← Sunlands Technology Group
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $643.0m | $640.8m | $342.1m | $365.6m | $365.6m | |
| Net Income (Loss) Attributable to Parent | ($253.6m) |
($918.6m)
-262.26%
|
($134.8m)
+85.32%
|
($56.7m)
+57.94%
|
($66.0m)
-16.35%
|
$34.4m
+152.09%
|
$93.4m
+171.63%
|
$90.3m
-3.33%
|
$46.9m
-48.08%
|
$52.3m
+11.56%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | ($918.7m) | ($134.8m) | ($56.8m) | ($66.1m) | $33.3m | $93.2m | $90.3m | $46.9m | $52.3m | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | ($136k) | $10k | ($50k) | ($68k) | ($1.1m) | ($138k) | $0 | $0 | $0 | — | |
| Depreciation, Depletion and Amortization | $5.5m | $8.1m | $3.7m | $5.3m | $6.2m | $6.0m | $6.8m | $4.3m | $4.0m | $4.1m | $28.8m | |
| Amortization of Intangible Assets | — | $776k | $848k | $973k | $602k | $1.3m | $1.3m | $1.5m | $682k | $473k | — | |
| Depreciation | $5.5m | $7.3m | $24.9m | $36.2m | $39.6m | $36.4m | $45.4m | $29.1m | $28.8m | $28.3m | $28.3m | |
| Amortization Cash Flow | — | — | — | — | — | — | $1.3m | $1.5m | $682k | $473k | — | |
| Amortization Of Intangibles | — | — | — | — | — | — | $1.3m | $1.5m | $682k | $473k | $473k | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $46.7m | $30.6m | $29.5m | $28.8m | $28.8m | |
| Deferred tax assets | — | — | — | ($85.5m) | $72.5m | ($26.2m) | $12.5m | $26.8m | ($24.7m) | $5.6m | — | |
| Deferred tax liabilities | — | — | — | $88.0m | ($72.7m) | $6.6m | ($15.8m) | ($2.2m) | $2.0m | $62k | — | |
| Share-based Payment Arrangement, Noncash Expense | — | $288.8m | $560k | $427k | $4.6m | $120k | $1.0m | — | — | — | $0 | |
| Share-based Payment Arrangement, Expense | — | $288.8m | $3.9m | $3.0m | $29.7m | $768k | $7.2m | — | — | $0 | $0 | |
| Share-based compensation | — | $288.8m | $3.9m | $3.0m | $29.7m | $768k | $7.2m | — | — | — | $0 | |
| Impairment loss on deferred costs | — | — | — | — | — | — | — | $1.4m | $4.2m | $217k | — | |
| Impairment loss on long-lived assets | — | — | — | — | — | — | — | $0 | $0 | $67.9m | — | |
| Impairment loss on long-term investments | — | — | — | — | $882k | $5.0m | $500k | $61k | $0 | $0 | — | |
| Asset Impairment Charge | — | — | — | — | — | — | $500k | $1.5m | $4.2m | $68.1m | $68.1m | |
| Income (Loss) from Equity Method Investments | — | ($4.9m) | $249k | ($20k) | $207k | ($767k) | $936k | ($1.4m) | ($1.9m) | ($648k) | — | |
| Other Nonoperating Income (Expense) | — | $276k | $4.7m | $3.1m | $31.1m | $6.1m | $3.6m | $4.8m | $3.6m | $4.3m | — | |
| Loss from equity method investments | $253.6m | $4.9m | ($1.7m) | $136k | ($1.3m) | $4.9m | ($6.5m) | $10.1m | $13.5m | $4.5m | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($6.5m) | $10.1m | $13.5m | $4.5m | $4.5m | |
| Change In Working Capital | — | — | — | — | — | — | ($709.3m) | ($492.9m) | ($209.7m) | ($330.1m) | ($330.1m) | |
| Payables for leasehold improvement and intangible assets | $1.9m | $2.2m | $7.2m | $6.8m | $7.1m | $6.1m | $4.4m | $1.1m | $796k | $570k | — | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | ($178.9m) | $35.1m | ($4.8m) | ($38.4m) | ($38.4m) | |
| Accrued expenses and other current liabilities | $35.7m | $164.2m | $214.7m | $25.2m | $172.2m | ($22.6m) | ($178.9m) | $35.1m | ($4.8m) | ($38.4m) | — | |
| Deferred revenue | $313.5m | $1.4b | $1.2b | ($57.3m) | ($204.3m) | ($646.7m) | ($657.0m) | ($553.8m) | ($194.0m) | ($331.2m) | — | |
| Change In Accrued Expense | — | — | — | — | — | — | ($178.9m) | $35.1m | ($4.8m) | ($38.4m) | ($38.4m) | |
| Prepaid expenses and other current assets | $3.1m | ($30.2m) | ($92.3m) | ($39.8m) | $63.7m | ($24.9m) | $77.8m | ($13.1m) | $5.3m | $12.4m | — | |
| Change In Other Current Assets | — | — | — | — | — | — | $65.0m | $145.4m | $8.0m | $285k | $285k | |
| Change In Other Current Liabilities | — | — | — | — | — | — | ($89.5m) | ($168.4m) | ($19.6m) | ($6.6m) | ($6.6m) | |
| Net Cash Provided by (Used in) Operating Activities | $89.3m |
$819.5m
+818.02%
|
$26.3m
-96.80%
|
($76.6m)
-391.84%
|
($28.9m)
+62.28%
|
($58.6m)
-102.60%
|
$1.3m
+102.27%
|
$19.8m
+1392.10%
|
$26.8m
+35.09%
|
$21.0m
-21.63%
|
$146.8m
+599.29%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | ($15.9m) | ($120k) | ($517.8m) | ($262k) | ($1.2m) | ($852k) | ($241k) | $15k | $2k | $0 | $4.5m | |
| Payments to Acquire Property, Plant, and Equipment | — | $398.2m | $75.3m | $3.6m | $1.9m | $2.1m | $470k | $812k | $35k | $30k | ($654k) | |
| Gain from fair value change of long-term investments | — | — | — | — | — | — | $391k | ($1.9m) | ($1.6m) | ($2.0m) | — | |
| Payment for long-term investments | — | — | — | — | ($25.4m) | ($638k) | ($13.1m) | ($2.0m) | ($235.3m) | ($84.6m) | — | |
| Proceeds received from disposal of long-term investments | — | — | — | — | — | — | — | $5.9m | $1.0m | $6.9m | — | |
| Purchase of short-term investments | ($858.5m) | ($2.1b) | ($4.4b) | ($2.1b) | ($2.2b) | ($1.8b) | ($1.2b) | ($773.2m) | ($1.7b) | ($1.5b) | — | |
| Proceeds from maturity of short-term investments | $757.5m | $1.9b | $3.7b | $2.9b | $1.9b | $2.2b | $1.4b | $701.6m | $1.6b | $1.6b | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $699k | — | — | — | — | — | — | — | — | $0 | |
| Net Other Investing Changes | — | — | — | — | — | — | $123k | $2.4m | $7.4m | $4.0m | $4.0m | |
| Net cash generated from/(used in) investing activities | ($117.7m) | ($615.9m) | ($1.2b) | $729.5m | ($349.3m) | $342.7m | $96.2m | ($71.8m) | ($358.9m) | ($12.7m) | — | |
| Net Cash Provided by (Used in) Investing Activities | — | ($615.9m) | ($172.6m) | $104.8m | ($53.5m) | $53.8m | $13.9m | ($10.1m) | ($49.2m) | ($1.8m) | ($12.7m) | |
| Cash flows from financing activities: | ||||||||||||
| Issuance Of Debt | — | — | — | — | — | — | $0 | $0 | $0 | $20.0m | $20.0m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $0 | $0 | $0 | $20.0m | $20.0m | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($38.7m) | ($38.7m) | ($101.8m) | ($41.5m) | ($41.5m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($38.7m) | ($38.7m) | ($101.8m) | ($41.5m) | ($41.5m) | |
| Long Term Debt Payments | — | — | — | — | — | — | ($38.7m) | ($38.7m) | ($101.8m) | ($61.5m) | ($61.5m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($38.7m) | ($38.7m) | ($101.8m) | ($61.5m) | ($61.5m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($6.7m) | ($4.8m) | ($10.9m) | ($6.2m) | ($6.2m) | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($6.7m) | ($4.8m) | ($10.9m) | ($6.2m) | ($6.2m) | |
| Common Stock Payments | — | — | — | — | — | — | ($6.7m) | ($4.8m) | ($10.9m) | ($6.2m) | ($6.2m) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($32.6m) | ($31.3m) | $0 | $0 | $0 | |
| Dividends paid | — | — | — | — | — | — | $4.7m | $4.4m | — | $0 | $0 | |
| Dividends Payable, Current | — | — | — | — | — | — | $31 | — | — | — | — | |
| Payment for cash dividend | — | — | — | — | — | — | ($32.6m) | ($31.3m) | $0 | $0 | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($32.6m) | ($31.3m) | $0 | $0 | $0 | |
| Net Cash Provided by (Used in) Financing Activities | — | $341.5m |
$230.9m
-32.39%
|
($9.2m)
-103.99%
|
($9.1m)
+1.74%
|
($6.1m)
+32.57%
|
($9.8m)
-61.26%
|
($10.5m)
-6.81%
|
($15.4m)
-46.88%
|
($6.8m)
+55.83%
|
($47.7m)
-599.33%
|
|
| Net increase/(decrease) in cash, cash equivalents and restricted cash | $18.7m | $536.4m | $689.4m | $153.4m | ($641.5m) | ($84.0m) | $80.7m | $9.0m | ($259.1m) | $69.5m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $536.4m | $100.3m | $22.0m | ($98.3m) | ($13.2m) | $11.7m | $1.3m | ($35.5m) | $9.9m | $576.8m | |
| Beginning Cash Position | — | — | — | — | — | — | $676.7m | $757.4m | $766.4m | $507.2m | $507.2m | |
| Cash, cash equivalents and restricted cash at beginning of the year | $23.1m | $559.5m | $1.2b | $1.4b | $760.7m | $676.7m | $757.4m | $766.4m | $507.2m | $576.8m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | — | $107.9m | $69.5m | $82.5m | $576.8m | |
| Restricted cash | — | — | — | — | — | $50.0m | $3.8m | $2.6m | $0 | $1.0m | — | |
| Total cash, cash equivalents and restricted cash | — | — | — | — | — | $676.7m | $757.4m | $766.4m | $507.2m | $576.8m | — | |
| Effect of exchange rate changes | — | ($8.8m) | $108.2m | $21.6m | ($44.5m) | ($14.5m) | $43.3m | $14.7m | $16.9m | ($16.8m) | ($16.8m) | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Income Tax Expense (Benefit) | — | $0 | $0 | $350k | ($36k) | ($3.1m) | $1.7m | $3.5m | $178k | $8.5m | — | |
| Operating Lease, Expense | — | — | — | $96.2m | — | — | — | — | — | — | — | |
| Gain from early termination of operating leases (Note 17) | — | — | — | — | — | — | — | ($27.2m) | ($1.3m) | ($352k) | — | |
| Additional Financial Items | ||||||||||||
| Equity Securities, FV-NI, Gain (Loss) | — | — | — | — | — | — | ($391k) | $1.9m | $1.6m | $2.0m | — | |
| Gain (Loss) on Termination of Lease | — | — | — | — | — | — | — | $3.8m | $179k | $50k | — | |
| General and Administrative Expense | — | $342.9m | $64.5m | $52.2m | $42.2m | $32.6m | $26.9m | $20.2m | $18.2m | $20.6m | — | |
| Investment Income, Interest | — | — | — | — | $4.0m | $2.5m | $2.4m | $4.4m | $5.3m | $3.4m | — | |
| Operating Expenses | — | $1.7b | $388.7m | $324.2m | $377.9m | $316.6m | $196.9m | $185.8m | $188.3m | $197.2m | — | |
| Proceeds from Stock Options Exercised | — | — | — | — | — | — | $1.5m | — | — | — | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | $974.7m | $2.0b | $2.2b | $2.2b | $2.5b | $2.3b | $2.2b | $2.0b | $2.0b | — | |
| Non-cash lease expenses | — | — | — | — | — | $55.2m | $26.9m | $23.7m | $18.1m | $12.2m | — | |
| (Gain)/loss from disposal of subsidiaries | — | — | — | — | — | ($44.0m) | ($1.4m) | ($43.7m) | $838k | $0 | — | |
| Deferred costs | ($14.1m) | ($73.0m) | ($229.0m) | ($121.7m) | $120.7m | $129.9m | $76.6m | $37.3m | $18.1m | $27.8m | — | |
| Right-of-use asset | — | — | — | ($38.8m) | $110.1m | $126.5m | $87.7m | $142.3m | $8.8m | ($812k) | — | |
| Other non-current assets | ($914k) | ($7.5m) | ($4.3m) | $3.4m | $88k | $2.6m | $4.2m | $3.1m | ($832k) | $1.1m | — | |
| Lease liabilities | — | — | — | $49.3m | ($93.2m) | ($144.8m) | ($84.5m) | ($168.6m) | ($19.9m) | ($6.7m) | — | |
| Other non-current liabilities | — | — | $14.9m | ($3.4m) | ($3.8m) | $4.0m | ($4.9m) | $225k | $315k | $82k | — | |
| Acquisition of intangible assets | ($824k) | ($746k) | ($665k) | ($780k) | ($880k) | ($2.9m) | — | ($595k) | ($147k) | ($441k) | — | |
| Disposal of subsidiaries, net of cash received | — | — | — | — | — | $15.2m | ($886k) | ($317k) | ($67k) | $0 | — | |
| Repayment of employee loans | — | — | — | — | — | $101k | $123k | $2.4m | $7.4m | $4.0m | — | |
| Share repurchase | — | — | ($34.0m) | ($31.6m) | ($26.6m) | ($4.9m) | ($6.7m) | ($4.8m) | ($10.9m) | ($6.2m) | — | |
| Proceeds from bank loans | — | — | $260.0m | — | — | $61.5m | — | $0 | $0 | $20.0m | — | |
| Proceeds from exercise of share options | — | — | — | — | — | — | $10.0m | $0 | $0 | — | — | |
| Repayment of bank loans | — | — | ($1.9m) | ($32.5m) | ($32.5m) | ($34.0m) | ($38.7m) | ($38.7m) | ($101.8m) | ($61.5m) | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($67.9m) | ($74.7m) | ($112.7m) | ($47.7m) | ($47.7m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | $96.2m | ($71.8m) | ($358.9m) | ($12.7m) | ($12.7m) | |
| Change In Other Working Capital | — | — | — | — | — | — | ($583.7m) | ($492.0m) | ($198.6m) | ($297.7m) | ($297.7m) | |
| Change In Prepaid Assets | — | — | — | — | — | — | $77.8m | ($13.1m) | $5.3m | $12.4m | $12.4m | |
| Changes In Cash | — | — | — | — | — | — | $37.4m | ($5.7m) | ($276.1m) | $86.4m | $86.4m | |
| End Cash Position | — | — | — | — | — | — | $757.4m | $766.4m | $507.2m | $576.8m | $576.8m | |
| Financing Cash Flow | — | — | — | — | — | — | ($67.9m) |
($74.7m)
-9.94%
|
($112.7m)
-50.99%
|
($47.7m)
+57.68%
|
($47.7m)
0.00%
|
|
| Free Cash Flow | — | — | — | — | — | — | $5.9m | $134.4m | $195.1m | $146.2m | $146.2m | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | $391k | ($1.9m) | ($1.6m) | ($2.0m) | ($1.6m) | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | ($1.4m) | ($43.7m) | $838k | $0 | $0 | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | — | $1.7m | ($104k) | ($18k) | ($2k) | ($2k) | |
| Investing Cash Flow | — | — | — | — | — | — | $96.2m | ($71.8m) | ($358.9m) | ($12.7m) | ($12.7m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($886k) | ($317k) | ($67k) | $0 | $0 | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | — | $0 | ($595k) | ($147k) | ($441k) | ($441k) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($3.2m) | ($5.6m) | ($220k) | ($211k) | ($211k) | |
| Operating Gains Losses | — | — | — | — | — | — | ($6.2m) | ($33.7m) | $14.3m | $4.5m | $4.5m | |
| Other Non Cash Items | — | — | — | — | — | — | $26.9m | ($3.5m) | $16.8m | $11.9m | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | $0 | $10.0m | $0 | $0 | — | $0 | |
| Purchase Of Business | — | — | — | — | — | — | ($886k) | ($317k) | ($67k) | $0 | $0 | |
| Purchase Of Intangibles | — | — | — | — | — | — | $0 | ($595k) | ($147k) | ($441k) | ($441k) | |
| Purchase Of PPE | — | — | $75.3m | $3.6m | $1.9m | $2.1m | ($3.2m) | ($5.8m) | ($259k) | ($213k) | ($654k) | |
| Sale Of Business | — | — | — | — | — | $15.2m | $0 | — | — | — | — | |
| Sale Of Intangibles | — | — | — | — | — | $13.8m | $0 | $0 | — | — | $0 | |
| Sale Of PPE | — | — | — | — | — | — | $75k | $118k | $39k | $2k | $2k | |
| Stock Based Compensation | — | — | — | — | — | $768k | $7.2m | $0 | $0 | — | $0 | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | $100.1m | ($67.6m) | ($365.9m) | ($16.1m) | ($16.1m) | |
| Purchase Of Investment | — | — | — | — | — | — | ($1.3b) | ($775.2m) | ($2.0b) | ($1.6b) | ($1.6b) | |
| Sale Of Investment | — | — | — | — | — | — | $1.4b | $707.6m | $1.6b | $1.6b | $1.6b | |
| Proceeds from Noncontrolling Interests | — | $200k | — | — | — | — | — | — | — | — | — | |
| Cash and cash equivalents | — | — | — | — | — | $626.7m | $753.6m | $763.8m | $507.2m | $575.7m | $507.2m | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $80.7m | $9.0m | ($259.1m) | $69.5m | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $1.1m | $2.2m | $1.8m | $1.6m | $1.5m | $1.1m | $755k | $147k | — | |
| Income tax paid | — | — | — | — | $18k | — | $13.6m | $11.2m | $8.9m | $23.7m | $23.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.