Sunlands Technology Group (STG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 24, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the STG SEC filings page.
Sunlands Technology Group (STG) reported $288.8M in revenue for fiscal year 2025, up 5.9% from the prior fiscal year. This page shows its 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).
Sunlands operates with high gross margins, but recent earnings depend more on cost structure and balance-sheet repair than sustained sales growth.
From FY2023 through FY2025, revenue remained below FY2023 while operating margin fell and then recovered, indicating that profitability is moving with costs or mix rather than sustained volume expansion. In FY2025, operating cash flow of$21.0M nearly matched free cash flow of$21.0M , but both were well below net income of$52.3M , showing that accounting profit is not converting one-for-one into cash even though capital spending is minimal.
Gross margin remained above
The balance sheet is being rebuilt: total liabilities fell from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Sunlands Technology Group'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.
Sunlands Technology Group 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 77/100, reflecting efficient cost management and pricing power. This is up from 15.0% the prior year.
Sunlands Technology Group's revenue grew 5.9% year-over-year to $288.8M, a solid pace of expansion. This earns a growth score of 22/100.
Sunlands Technology Group 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 97/100, indicating a strong balance sheet with room for future borrowing.
Sunlands Technology Group's current ratio of 1.21 is below the typical benchmark, resulting in a score of 29/100. 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.
Sunlands Technology Group has a free cash flow margin of 7.3%, earning a moderate score of 58/100. The company generates positive cash flow after capital investments, but with room for improvement.
Sunlands Technology Group 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 82/100. This is down from 56.9% the prior year.
Sunlands Technology Group scores 0.81, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Sunlands Technology Group passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Sunlands Technology Group 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.
Sunlands Technology Group earns $441.35 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
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Sunlands Technology Group held $82.3M in cash against $0 in long-term debt as of Q4 2025, with $108.6M of liabilities due within a year.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
STG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
STG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q4'2410-K | Q4'2310-K | Q4'2210-K | Q4'2110-K | Q4'2010-K | Q4'1910-K | Q4'1810-K |
|---|---|---|---|---|---|---|---|---|
| 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 |
| Short-Term Investments | $33.7M-10.8% | $37.8M+89.0% | $20.0M+95.7% | $10.2M-64.6% | $28.9M-63.6% | $79.4M+153.9% | $31.3M-79.1% | $149.6M |
| Long-Term Investments | $45.6M+27.9% | $35.6M+312.3% | $8.6M-18.9% | $10.7M+23.8% | $8.6M-12.4% | $9.8M+70.9% | $5.7M+31.7% | $4.4M |
| 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 |
| Non-Current Liabilities | $49.1M-50.2% | $98.6M-15.9% | $117.3M-31.3% | $170.8M-36.0% | $266.9M-23.5% | $349.0M-1.5% | $354.4M+38.2% | $256.5M |
| Long-Term Debt | $0-100.0% | $4.8M-67.1% | $14.7M-29.1% | $20.8M-27.2% | $28.6M+16.0% | $24.6M-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 |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
STG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
STG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Sunlands Technology Group STG | FY2025 | $288.8M | $52.3M | 18.1% | $35.5M | 61/100 |
| Skillsoft Corp. SKIL | FY2026 | $512.7M | -$139.8M | -27.3% | $51.3M | 21/100 |
| Legacy Education Inc. LGCY | FY2026 | $80.1M | $9.1M | 11.4% | $125.3M | 81/100 |
| CHEGG, INC. CHGG | FY2025 | $376.9M | -$103.0M | -27.3% | $80.0M | 21/100 |
| iHuman Inc. IH | FY2025 | $115.4M | $13.6M | 11.8% | $58.8M | 54/100 |
| Genius Group Limited GNS | FY2025 | $8.4M | -$55.5M | N/A | $31.3M | 14/100 |
Where Sunlands Technology Group Ranks
Frequently Asked Questions
What is Sunlands Technology Group's annual revenue?
Sunlands Technology Group (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 Technology Group's revenue growing?
Sunlands Technology Group (STG) revenue grew by 5.9% year-over-year, from $272.7M to $288.8M in fiscal year 2025.
Is Sunlands Technology Group profitable?
Yes, Sunlands Technology Group (STG) reported a net income of $52.3M in fiscal year 2025, with a net profit margin of 18.1%.
What is Sunlands Technology Group's EBITDA?
Sunlands Technology Group (STG) had EBITDA of $58.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sunlands Technology Group have?
As of fiscal year 2025, Sunlands Technology Group (STG) had $82.3M in cash and equivalents against $0 in long-term debt.
What is Sunlands Technology Group's gross margin?
Sunlands Technology Group (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 Technology Group's operating margin?
Sunlands Technology Group (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 Technology Group's net profit margin?
Sunlands Technology Group (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 Technology Group's return on equity (ROE)?
Sunlands Technology Group (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 Technology Group's free cash flow?
Sunlands Technology Group (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 Technology Group's operating cash flow?
Sunlands Technology Group (STG) generated $21.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sunlands Technology Group's total assets?
Sunlands Technology Group (STG) had $292.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Sunlands Technology Group's capital expenditures?
Sunlands Technology Group (STG) invested $30K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Sunlands Technology Group spend on research and development?
Sunlands Technology Group (STG) invested $4.2M in research and development during fiscal year 2025.
What is Sunlands Technology Group's current ratio?
Sunlands Technology Group (STG) had a current ratio of 1.21 as of fiscal year 2025, which is considered adequate.
What is Sunlands Technology Group's debt-to-equity ratio?
Sunlands Technology Group (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 Technology Group's return on assets (ROA)?
Sunlands Technology Group (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 Technology Group's P/E ratio?
Sunlands Technology Group (STG) trades at 0.7x earnings, its market capitalization divided by net income of $52.3M net income, FY2025. The market capitalization is $35.5M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sunlands Technology Group's price-to-sales ratio?
Sunlands Technology Group (STG) trades at 0.1x sales, its market capitalization divided by revenue of $288.8M revenue, FY2025. The market capitalization is $35.5M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sunlands Technology Group's Altman Z-Score?
Sunlands Technology Group (STG) has an Altman Z-Score of 0.81, 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 Technology Group's Piotroski F-Score?
Sunlands Technology Group (STG) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Technology Group's earnings high quality?
Sunlands Technology Group (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 Technology Group cover its interest payments?
Sunlands Technology Group (STG) has an interest coverage ratio of 441.35x, 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 Technology Group?
Sunlands Technology Group (STG) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.