Consumer Defensive · Education & Training Services
Price
$4.26
Market Cap
$57.3M
Employees
2,071
Beta
1.42
Avg Volume
444,834
CEO
Tongbo Liu
Business Description
Sunlands Technology Group, operating through its various divisions, delivers online educational services throughout the People's Republic of China. The company specializes in post-secondary academic programs, including comprehensive preparation for the Self-Taught Higher Education Examination (STE) — a pathway for students seeking associate diplomas or bachelor's degrees — as well as training for Master of Business Administration (MBA) entrance exams. Its extensive STE course offerings span numerous disciplines, such as Chinese language and literature, legal studies, pre-school education, marketing, English, human resource management, various business administration and management fields (including modern corporate governance, financial management), advertising, accounting, administrative management, computer information management, finance, convention management, chain operation management, and visual communication and design. In addition to academic degrees, Sunlands also facilitates career development through professional certification preparation courses in diverse sectors like accounting, human resources, teaching, and finance. Established in 2003, the enterprise was formerly known as Sunlands Online Education Group before adopting its current name, Sunlands Technology Group, in August 2018. Its main offices are located in Beijing, China.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
0.16
Stock Price: $4.26
EPS (Diluted): 26.43
EPS (Diluted): 26.43
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.59
Stock Price: $4.26
Total Equity: $946.16M
Shares: 13,472,746
Total Equity: $946.16M
Shares: 13,472,746
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
0.26
Market Cap: $57.26M
Total Debt: $9.11M
Cash: $577.13M
EBITDA: $459.10M
Total Debt: $9.11M
Cash: $577.13M
EBITDA: $459.10M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$119.3M
Market Cap: $57.26M
Total Debt: $9.11M
Cash: $577.13M
Total Debt: $9.11M
Cash: $577.13M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
86.9%
Gross Profit: $1.76B
Revenue: $2.02B
Revenue: $2.02B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
22.0%
Operating Income: $444.48M
Revenue: $2.02B
Revenue: $2.02B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
18.1%
Net Income: $365.63M
Revenue: $2.02B
Revenue: $2.02B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
38.6%
Net Income: $365.63M
Total Equity: $946.16M
Total Equity: $946.16M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
101.1%
Operating Income: $444.48M
Tax Rate: 14.0%
Equity: $946.16M
Total Debt: $9.11M
Cash: $577.13M
Tax Rate: 14.0%
Equity: $946.16M
Total Debt: $9.11M
Cash: $577.13M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.18
Current Assets: $895.84M
Current Liabilities: $759.93M
Current Liabilities: $759.93M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.01
Short-Term Debt: $9.11M
Long-Term Debt: $0.00
Total Debt: $9.11M
Total Equity: $946.16M
Long-Term Debt: $0.00
Total Debt: $9.11M
Total Equity: $946.16M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$149.92
Revenue: $2.02B
Shares: 13,472,746
Shares: 13,472,746
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$70.23
Total Equity: $946.16M
Shares: 13,472,746
Shares: 13,472,746
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$10.58
Operating CF: $142.81M
CapEx: -$207,162
Shares: 13,472,746
CapEx: -$207,162
Shares: 13,472,746
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.26
Stock Price: $4.26
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $365.63M
Net Income: $365.63M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares STG against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 11:39am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.5B | $2.3B | $2.2B | $2.0B | $2.0B |
| Cost of Revenue | $376.2M | $348.2M | $265.5M | $317.6M | $264.4M |
| Gross Profit | $2.1B | $2.0B | $1.9B | $1.7B | $1.8B |
| Operating Expenses | $2.0B | $1.4B | $1.3B | $1.4B | $1.3B |
| Operating Income | $114.3M | $616.9M | $574.9M | $297.9M | $444.5M |
| Net Income | $219.1M | $644.0M | $640.8M | $342.1M | $365.6M |
| EBITDA | $246.5M | $663.6M | $714.4M | $391.7M | $459.1M |
| EPS | $16.28 | $47.07 | $46.44 | $25.06 | $26.43 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 11:39am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $626.7M | $753.6M | $763.8M | $507.2M | $577.1M |
| Total Current Assets | $1.1B | $969.1M | $1.0B | $884.3M | $895.8M |
| Total Assets | $2.6B | $2.3B | $2.1B | $2.1B | $2.0B |
| Current Liabilities | $1.9B | $1.5B | $1.0B | $801.4M | $759.9M |
| Long-Term Debt | $182.0M | $143.3M | $104.7M | $35.4M | $0 |
| Total Liabilities | $3.6B | $2.7B | $1.8B | $1.5B | $1.1B |
| Total Equity | -$1.0B | -$374.5M | $277.0M | $601.3M | $946.2M |
| Retained Earnings | -$3.5B | -$2.8B | -$2.2B | -$1.8B | -$1.5B |
Cash Flow (Annual)
Last updated: Jun 24, 2026 11:39am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$373.3M | $62.7M | $140.8M | $195.5M | $142.8M |
| Capital Expenditure | -$16.5M | -$22.2M | -$6.4M | $-406,000 | $-207,162 |
| Free Cash Flow | -$389.8M | $40.4M | $134.4M | $195.1M | $142.6M |
| Acquisitions (net) | $14.6M | -$6.1M | $-317,000 | $-67,000 | $1,945 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$4.9M | -$6.7M | -$4.8M | -$10.9M | -$6.0M |
| Net Change in Cash | -$84.0M | $552.8M | $9.0M | -$259.1M | $91.2M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 5:05pm (15h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$2.0B $2.0B – $2.0B
|
$2.1B $2.1B – $2.1B
|
$2.3B $2.3B – $2.3B
|
$2.3B $2.3B – $2.3B
|
| EBITDA |
$597.2M $597.2M – $597.2M
|
$633.7M $633.7M – $633.7M
|
$671.5M $671.5M – $671.5M
|
$682.6M $682.6M – $682.6M
|
| Net Income |
-$929.7M -$929.7M – -$929.7M
|
-$354.9M -$354.9M – -$354.9M
|
-$555.6M -$555.6M – -$555.6M
|
-$476.8M -$476.8M – -$476.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 11:39am (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -7.4% | -7.0% | -7.8% | +1.5% |
| Gross Profit Growth | -7.4% | -4.1% | -11.7% | +5.0% |
| Operating Income Growth | +439.9% | -6.8% | -48.2% | +49.2% |
| Net Income Growth | +194.0% | -0.5% | -46.6% | +6.9% |
| EBITDA Growth | +169.2% | +7.6% | -45.2% | +17.2% |
Dividend History (Last 20)
Last updated: Jun 24, 2026 11:39am (2d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2022-06-29 | $0.63 | 2022-06-13 | 2022-06-30 | 2022-07-29 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for STG — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30