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Chinese online education and language-technology company making the Youdao Dictionary app, learning devices and online courses.
Chinese online education and language-technology company making the Youdao Dictionary app, learning devices and online courses.
Paid three ways: course fees, sales of learning devices, and advertising sold against its large audience of dictionary and translation app users. NetEase is the controlling shareholder.
In one line: NetEase's answer to Duolingo/Chegg.
Moat: narrow (brand, installed base, data). Large installed user base for its dictionary/translation app under NetEase's brand umbrella.
Headquarters: Beijing, China · Founded: 2006 · Employees: 3,595
Size Youdao, Inc. Sponsored ADR (DAO) is a United States Information Technology company (Internet Software/Services) with a market value of $2.50B, the 1656th largest of 3,117 United States companies the cockpit tracks. Shares closed at $19.71 on 6 Nov 2026.
Performance Over six months the shares gained 58.7%, against -4.5% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 10.0% over the last twelve months (peer median +6.2%); the operating margin is 4.3% (peer median 10.5%).
Valuation It trades at 59.4× forward earnings against a peer median of 35.0× (3rd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Short interest Short interest is 2.1% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $858M | $822M | $782M | $761M | $744M |
| Revenue growth | — | +5% | +3% | +2% | — |
| Gross profit | $388M | $364M | $382M | $391M | $384M |
| EBITDA | n/a | $34.0M | $24.7M | -$61.7M | -$109M |
| Net income | $23.2M | $14.9M | $11.4M | -$77.6M | -$108M |
| Free cash flow | n/a | $4.12M | -$11.1M | -$64.4M | -$99.8M |
| Capital expenditure | n/a | $3.56M | $1.64M | $2.52M | $10.4M |
| Total debt | $252M | $264M | $254M | $225M | $213M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Youdao, Inc. Sponsored ADR DAO | $2.50B | +59% | +10% | 4% | 59.4× | 33.6% |
| New Oriental Education & Technology Group, Inc. Sponsored ADR EDU | $7.19B | +3% | +21% | 12% | 13.0× | n/a |
| TAL Education Group Sponsored ADR TAL | $4.77B | -8% | +26% | 16% | 9.8× | n/a |
| iflytek 002230.SZ | $13.2B | -20% | +11% | -4% | 106.3× | n/a |
| Duolingo DUOL | $7.51B | +49% | +23% | 12% | 52.6× | 19.8% |
| Gaotu Techedu, Inc. Sponsored ADR GOTU | $552M | +18% | +25% | -7% | 386.9× | -11.9% |
| Baidu, Inc. Sponsored ADR BIDU | $25.8B | -42% | -1% | 7% | 17.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DAO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.9% | +0.7% | highest of 21 |
| 6-month return | +58.7% | -4.5% | highest of 21 |
| Distance from 52-week high | -6.1% | -31.5% | highest of 21 |
| Revenue growth (TTM) | +10.0% | +6.2% | 10th highest of 21 |
| Operating margin | 4.3% | 10.5% | 6th lowest of 21 |
| Forward P/E | 59.4× | 35.0× | 3rd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 33.6% | 18.3% | 3rd most demanding of 13 |
| Growth delivered (Del g) | +17.6% | +7.1% | 3rd highest of 13 |
| Hurdle (Req g minus delivered) | +16.1 pp | +10.8 pp | 5th most demanding of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Youdao, Inc. Sponsored ADR DAO | United States | $2.50B | +59% | +10% | 4% | 59.4× | 33.6% | +17.6% |
| Shanghai Great Wisdom 601519.SS | China | $2.49B | -18% | +6% | -8% | n/a | n/a | n/a |
| Aditya Birla Sun Life Amc ABSLAMC.NS | India | $2.68B | -19% | +4% | 60% | 23.9× | n/a | n/a |
| People.cn 603000.SS | China | $2.69B | -15% | 0% | 12% | 77.2× | 28.6% | -0.4% |
| Winning Health Technology 300253.SZ | China | $2.31B | -19% | +6% | -20% | 351.5× | 18.9% | -1.4% |
| People PPLI | United States | $3.16B | -4% | -29% | 2% | 38.9× | 36.5% | -2.8% |
| XinhuaNet 603888.SS | China | $1.89B | -7% | -1% | 8% | n/a | 22.6% | +9.3% |
| Crisil CRISIL.NS | India | $3.40B | +6% | +24% | 26% | 35.0× | n/a | n/a |
| TBO Tek TBOTEK.NS | India | $1.80B | +24% | +74% | 11% | 41.6× | n/a | n/a |
| Seek SEK.AX | Australia | $3.59B | +8% | +17% | 24% | 25.8× | 17.7% | +11.1% |
| Ziff Davis ZD | United States | $1.70B | +21% | -8% | 10% | 8.9× | -10.6% | +4.6% |
| SMG Swiss Marketplace SMG.SW | Switzerland | $3.77B | +7% | +13% | 35% | 23.9× | 5.8% | +12.4% |
| Weibo 9898.HK | Hong Kong | $1.58B | -24% | +2% | 25% | 5.2× | n/a | n/a |
| AUTO1 AG1.DE | Germany | $4.34B | -14% | +21% | 1% | 29.2× | n/a | n/a |
| Mony MONY.L | United Kingdom | $1.42B | +21% | +2% | 26% | 11.1× | -0.7% | +5.3% |
| CarTrade Tech CARTRADE.NS | India | $1.39B | +40% | +16% | 30% | 47.7× | 34.5% | +25.6% |
| Trustpilot TRST.L | United Kingdom | $1.36B | +12% | +19% | 5% | 52.4× | 32.7% | +20.0% |
| NHN 181710.KS | South Korea | $1.34B | +44% | +12% | 6% | 16.3× | -4.4% | +8.9% |
| PB Fintech POLICYBZR.NS | India | $4.74B | -43% | +37% | 7% | 41.0× | n/a | n/a |
| WEBTOON Entertainment WBTN | United States | $1.31B | -27% | 0% | -3% | n/a | n/a | n/a |
| Vend Marketplaces VEND.OL | Norway | $5.11B | -4% | -14% | 29% | 35.2× | 10.7% | -13.2% |