What is Sunlands Tech's earnings per share (EPS)?

Sunlands Tech (STG) reported diluted earnings per share of $7.76 for fiscal year 2025. This represents a 13.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sunlands Tech Financials

STG

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Sunlands Tech (STG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI STG FY2024 2026-04-24

Expense cuts and balance-sheet repair, not growth, now drive how Sunlands converts a shrinking revenue base into cash.

From FY2022 to FY2024, total liabilities fell from $385.1M to $208.4M even as revenue kept contracting. With equity moving from -$54.3M to $82.4M, the company looks less like a growth story and more like a cash-harvest operation using high gross profit to unwind past balance-sheet strain.

Gross margin stayed at 84.0% in FY2024, so the profit squeeze came more from lower enrollment volume than from the underlying economics of delivering the service deteriorating. Meanwhile, SG&A and R&D dropped to $21.6M from $33.1M in FY2022, showing cost discipline has been the main defense against shrinking sales.

Free cash flow reached $26.8M in FY2024 with capex of only $35K, making this a very low-capital-intensity model where accounting profit can turn into spendable cash without much reinvestment. That cash helped keep the current ratio above 1x while debt-to-equity fell to 0.1x, so liquidity is no longer being supported by heavy borrowing.

Financial Health Signals

Financial Profile 60/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Sunlands Tech's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Sunlands Tech has an operating margin of 18.6%, meaning the company retains $19 of operating profit per $100 of revenue. This strong profitability earns a score of 65/100, reflecting efficient cost management and pricing power. This is up from 15.0% the prior year.

Growth

Sunlands Tech's revenue grew 5.9% year-over-year to $288.8M, a solid pace of expansion. This earns a growth score of 29/100.

Leverage

100

Sunlands Tech carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Sunlands Tech's current ratio of 1.21 is below the typical benchmark, resulting in a score of 19/100. However, the company holds substantial cash reserves (76% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

Sunlands Tech has a free cash flow margin of 7.3%, earning a moderate score of 45/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

100

Sunlands Tech earns a strong 38.7% return on equity (ROE), meaning it generates $39 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 56.9% the prior year.

Altman Z-Score Distress

0.82

Sunlands Tech scores 0.82, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Strong

7/9

Sunlands Tech passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.40x

For every $1 of reported earnings, Sunlands Tech generates $0.40 in operating cash flow ($21.0M OCF vs $52.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

441.4x

Sunlands Tech earns $441.4 in operating income for every $1 of interest expense ($53.8M vs $122K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$288.8M

YoY+5.9%

5Y CAGR-3.1%

Sunlands Tech generated $288.8M in revenue in fiscal year 2025. This represents an increase of 5.9% from the prior year.

EBITDA

$58.0M

YoY+29.2%

Sunlands Tech's EBITDA was $58.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.2% from the prior year.

Net Income

$52.3M

YoY+11.6%

Sunlands Tech reported $52.3M in net income in fiscal year 2025. This represents an increase of 11.6% from the prior year.

EPS (Diluted)

$7.76

YoY+13.0%

Sunlands Tech earned $7.76 per diluted share (EPS) in fiscal year 2025. This represents an increase of 13.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$21.0M

YoY-21.6%

Sunlands Tech generated $21.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 21.6% from the prior year.

Cash & Debt

$82.3M

YoY+18.5%

5Y CAGR-6.7%

Sunlands Tech held $82.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

Sunlands Tech had 3M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

86.9%

YoY+2.9pp

5Y CAGR+4.5pp

Sunlands Tech's gross margin was 86.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.9 percentage points from the prior year.

Operating Margin

18.6%

YoY+3.7pp

5Y CAGR+48.1pp

Sunlands Tech's operating margin was 18.6% in fiscal year 2025, reflecting core business profitability. This is up 3.7 percentage points from the prior year.

Net Margin

18.1%

YoY+0.9pp

5Y CAGR+37.6pp

Sunlands Tech's net profit margin was 18.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.9 percentage points from the prior year.

Return on Equity

38.7%

YoY-18.2pp

Sunlands Tech's ROE was 38.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 18.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$4.2M

YoY+23.4%

5Y CAGR-16.2%

Sunlands Tech invested $4.2M in research and development in fiscal year 2025. This represents an increase of 23.4% from the prior year.

Share Buybacks

$882K

YoY-41.2%

5Y CAGR-26.4%

Sunlands Tech spent $882K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 41.2% from the prior year.

Capital Expenditures

$30K

YoY-14.3%

5Y CAGR-56.4%

Sunlands Tech invested $30K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 14.3% from the prior year.

STG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$288.8M+5.9%	$272.7M-10.4%	$304.2M-9.7%	$336.8M-14.4%	$393.5M+16.5%	$337.7M
Cost of Revenue	$37.8M-13.1%	$43.5M+16.3%	$37.4M-25.9%	$50.5M-14.5%	$59.0M-0.5%	$59.4M
Gross Profit	$251.0M+9.5%	$229.2M-14.1%	$266.8M-6.8%	$286.3M-14.4%	$334.5M+20.2%	$278.4M
R&D Expenses	$4.2M+23.4%	$3.4M-27.9%	$4.8M-23.5%	$6.2M-35.5%	$9.6M-5.6%	$10.2M
SG&A Expenses	$20.6M+13.0%	$18.2M-9.8%	$20.2M-25.0%	$26.9M-17.4%	$32.6M-22.8%	$42.2M
Operating Income	$53.8M+31.9%	$40.8M-49.6%	$81.0M-9.5%	$89.4M+398.9%	$17.9M+118.0%	-$99.5M
Interest Expense	$122K-83.2%	$725K-32.7%	$1.1M-26.1%	$1.5M-15.0%	$1.7M-4.3%	$1.8M
Income Tax	$8.5M+4663.5%	$178K-95.0%	$3.5M+103.9%	$1.7M+156.5%	-$3.1M-8450.0%	-$36K
Net Income	$52.3M+11.6%	$46.9M-48.1%	$90.3M-3.3%	$93.4M+171.6%	$34.4M+152.1%	-$66.0M
EPS (Diluted)	$7.76+13.0%	$6.87-47.5%	$13.08-4.2%	$13.65	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

STG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$292.8M+0.7%	$290.6M-2.6%	$298.4M-9.6%	$330.0M-18.9%	$406.8M-18.6%	$499.8M
Current Assets	$131.2M+8.3%	$121.2M-16.6%	$145.3M+3.4%	$140.5M-20.5%	$176.8M-25.8%	$238.2M
Cash & Equivalents	$82.3M+18.5%	$69.5M-35.4%	$107.6M-1.5%	$109.3M+11.1%	$98.3M-15.6%	$116.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$157.8M-24.3%	$208.4M-19.7%	$259.6M-32.6%	$385.1M-32.0%	$566.0M-17.4%	$685.5M
Current Liabilities	$108.6M-1.1%	$109.8M-22.8%	$142.3M-33.6%	$214.3M-28.3%	$299.1M-11.1%	$336.5M
Long-Term Debt	$0-100.0%	$4.8M-67.1%	$14.7M-29.1%	$20.8M-27.2%	$28.6M+16.0%	$24.6M
Total Equity	$135.2M+64.1%	$82.4M+111.1%	$39.0M+171.9%	-$54.3M+65.7%	-$158.4M+14.7%	-$185.7M
Retained Earnings	-$212.5M+15.7%	-$252.1M+17.6%	-$305.8M+25.0%	-$407.7M+24.8%	-$542.3M+3.7%	-$563.2M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$292.8M+0.7%	$290.6M-2.6%	$298.4M-9.6%	$330.0M-18.9%	$406.8M-18.6%	$499.8M-12.3%	$570.1M+4.8%	$543.8M
Current Assets	$131.2M+8.3%	$121.2M-16.6%	$145.3M+3.4%	$140.5M-20.5%	$176.8M-25.8%	$238.2M-18.9%	$293.6M-21.8%	$375.7M
Cash & Equivalents	$82.3M+18.5%	$69.5M-35.4%	$107.6M-1.5%	$109.3M+11.1%	$98.3M-15.6%	$116.6M-42.1%	$201.4M+10.9%	$181.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$157.8M-24.3%	$208.4M-19.7%	$259.6M-32.6%	$385.1M-32.0%	$566.0M-17.4%	$685.5M+1.4%	$676.1M+14.0%	$593.1M
Current Liabilities	$108.6M-1.1%	$109.8M-22.8%	$142.3M-33.6%	$214.3M-28.3%	$299.1M-11.1%	$336.5M+4.6%	$321.7M-4.4%	$336.6M
Long-Term Debt	$0-100.0%	$4.8M-67.1%	$14.7M-29.1%	$20.8M-27.2%	$28.6M+16.0%	$24.6M-11.3%	$27.7M-15.5%	$32.8M
Total Equity	$135.2M+64.1%	$82.4M+111.1%	$39.0M+171.9%	-$54.3M+65.7%	-$158.4M+14.7%	-$185.7M-75.1%	-$106.0M-115.0%	-$49.3M
Retained Earnings	-$212.5M+15.7%	-$252.1M+17.6%	-$305.8M+25.0%	-$407.7M+24.8%	-$542.3M+3.7%	-$563.2M-20.9%	-$466.1M-12.4%	-$414.5M

STG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$21.0M-21.6%	$26.8M+35.1%	$19.8M+1392.1%	$1.3M+102.3%	-$58.6M-102.6%	-$28.9M
Capital Expenditures	$30K-14.3%	$35K-95.7%	$812K+72.8%	$470K-78.1%	$2.1M+12.7%	$1.9M
Free Cash Flow	$21.0M-21.6%	$26.8M+40.7%	$19.0M+2114.0%	$859K+101.4%	-$60.7M-97.0%	-$30.8M
Investing Cash Flow	-$1.8M+96.3%	-$49.2M-386.0%	-$10.1M-172.5%	$13.9M-74.1%	$53.8M+200.4%	-$53.5M
Financing Cash Flow	-$6.8M+55.8%	-$15.4M-46.9%	-$10.5M-6.8%	-$9.8M-61.3%	-$6.1M+32.6%	-$9.1M
Dividends Paid	$0	N/A	$4.4M-6.8%	$4.7M	N/A	N/A
Share Buybacks	$882K-41.2%	$1.5M+124.2%	$669K-31.5%	$977K+27.9%	$764K-81.2%	$4.1M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

STG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	86.9%+2.9pp	84.0%-3.7pp	87.7%+2.7pp	85.0%0.0pp	85.0%+2.6pp	82.4%
Operating Margin	18.6%+3.7pp	15.0%-11.6pp	26.6%+0.1pp	26.6%+22.0pp	4.6%+34.0pp	-29.4%
Net Margin	18.1%+0.9pp	17.2%-12.5pp	29.7%+2.0pp	27.7%+19.0pp	8.7%+28.3pp	-19.5%
Return on Equity	38.7%-18.2pp	56.9%-174.4pp	231.3%	N/A	N/A	N/A
Return on Assets	17.9%+1.7pp	16.1%-14.1pp	30.3%+2.0pp	28.3%+19.8pp	8.5%+21.7pp	-13.2%
Current Ratio	1.21+0.1	1.10+0.1	1.02+0.4	0.66+0.1	0.59-0.1	0.71
Debt-to-Equity	0.00-0.1	0.06-0.3	0.38+0.8	-0.38-0.2	-0.18-0.0	-0.13
FCF Margin	7.3%-2.6pp	9.8%+3.6pp	6.3%+6.0pp	0.3%+15.7pp	-15.4%-6.3pp	-9.1%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.21+0.1	1.10+0.1	1.02+0.4	0.66+0.1	0.59-0.1	0.71-0.2	0.91-0.2	1.12
Debt-to-Equity	0.00-0.1	0.06-0.3	0.38+0.8	-0.38-0.2	-0.18-0.0	-0.13+0.1	-0.26+0.4	-0.67
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Sunlands Tech's annual revenue?

Sunlands Tech (STG) reported $288.8M in total revenue for fiscal year 2025. This represents a 5.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Sunlands Tech's revenue growing?

Sunlands Tech (STG) revenue grew by 5.9% year-over-year, from $272.7M to $288.8M in fiscal year 2025.

Is Sunlands Tech profitable?

Yes, Sunlands Tech (STG) reported a net income of $52.3M in fiscal year 2025, with a net profit margin of 18.1%.

What is Sunlands Tech's EBITDA?

Sunlands Tech (STG) had EBITDA of $58.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Sunlands Tech have?

As of fiscal year 2025, Sunlands Tech (STG) had $82.3M in cash and equivalents against $0 in long-term debt.

What is Sunlands Tech's gross margin?

Sunlands Tech (STG) had a gross margin of 86.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Sunlands Tech's operating margin?

Sunlands Tech (STG) had an operating margin of 18.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Sunlands Tech's net profit margin?

Sunlands Tech (STG) had a net profit margin of 18.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Sunlands Tech's return on equity (ROE)?

Sunlands Tech (STG) has a return on equity of 38.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Sunlands Tech's free cash flow?

Sunlands Tech (STG) generated $21.0M in free cash flow during fiscal year 2025. This represents a -21.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Sunlands Tech's operating cash flow?

Sunlands Tech (STG) generated $21.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Sunlands Tech's total assets?

Sunlands Tech (STG) had $292.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Sunlands Tech's capital expenditures?

Sunlands Tech (STG) invested $30K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Sunlands Tech spend on research and development?

Sunlands Tech (STG) invested $4.2M in research and development during fiscal year 2025.

Does Sunlands Tech buy back shares?

Yes, Sunlands Tech (STG) spent $882K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Sunlands Tech have outstanding?

Sunlands Tech (STG) had 3M shares outstanding as of fiscal year 2025.

What is Sunlands Tech's current ratio?

Sunlands Tech (STG) had a current ratio of 1.21 as of fiscal year 2025, which is considered adequate.

What is Sunlands Tech's debt-to-equity ratio?

Sunlands Tech (STG) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Sunlands Tech's return on assets (ROA)?

Sunlands Tech (STG) had a return on assets of 17.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Sunlands Tech's Altman Z-Score?

Sunlands Tech (STG) has an Altman Z-Score of 0.82, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Sunlands Tech's Piotroski F-Score?

Sunlands Tech (STG) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Sunlands Tech's earnings high quality?

Sunlands Tech (STG) has an earnings quality ratio of 0.40x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Sunlands Tech cover its interest payments?

Sunlands Tech (STG) has an interest coverage ratio of 441.4x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Sunlands Tech?

Sunlands Tech (STG) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.