olivLaw · US equity research
Youdao, Inc. DAO
Services-Educational Services · SIC 8200 · Vertical: Services-Educational Services (SIC 8200)
Youdao, Inc. is an AI solutions provider for learning and advertising in China, offering educational services, smart devices and online marketing. Total net revenues reached 5909.0 million RMB in fiscal 2025, and online marketing has become the largest revenue source, at 43.0% of the total. The company is steering its strategy toward its own language models and AI agents.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Youdao, Inc. (DAO) stock was 20.69 USD (+4.87% on the day), with market capitalisation 2.5 bn USD, P/E 159.2 on diluted EPS of 0.13 USD over the last 12 months, beta 0.77, 52-week range 8.43–20.69 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 70.8
- overbought (≥ 70)
- Bollinger (20, 2)
- 16.88 – 20.79
- in the upper half of the band · %B 0.97 · band width 20.8%
- SMA 50 / 200
- 16.67 / 13.20
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.01 / 0.94
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +32.4% | −1.1% | +33.5 pp | — |
| 3 months | +20.0% | −0.5% | +20.5 pp | — |
| 6 months | +78.4% | +4.4% | +74.0 pp | — |
| Year to date | +105.3% | +12.3% | +92.9 pp | — |
| 1 year | +98.9% | +13.5% | +85.4 pp | −34.1% |
| 3 years | +375.6% | +76.4% | +299.2 pp | −16.5% |
| 5 years | +65.9% | +63.7% | +2.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 74.0, median 75.8, max 77.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | 187.4 m | 485.4 m | 630.2 m | 1.0 bn | 759.1 m | 770.7 m | 845.0 m |
| Revenue YoY | unavailable | unavailable | +159.0% | +29.8% | +60.8% | −25.1% | +1.5% | +9.6% |
| Net income | unavailable | -86.4 m | -268.6 m | -156.2 m | -108.1 m | -77.5 m | 10.3 m | 13.9 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | +34.6% |
| Diluted EPS | unavailable | -0.96 | -2.38 | -1.28 | -0.85 | -0.64 | 0.10 | 0.13 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | +30.0% |
| net % | unavailable | -46.1% | -55.3% | -24.8% | -10.7% | -10.2% | 1.3% | 1.6% |
| Free cash flow | unavailable | -56.1 m | -54.9 m | -221.2 m | -97.4 m | -64.2 m | -10.9 m | 4.2 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 62.9 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- -276.6 m USD
- Total assets
- 282.4 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.59x
- ROE
- unavailable
- ROA
- 5.2%
- FCF margin
- 0.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 485.4 m | 630.2 m | 1.0 bn | 759.1 m | 770.7 m | 845.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Cost of revenue | 262.6 m | 318.1 m | 351.8 m | 369.3 m | 394.2 m | 470.8 m | SEC (XBRL)· 15 Apr 2026verified |
| Gross profit | 222.9 m | 312.1 m | 375.0 m | 389.8 m | 376.5 m | 374.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Research & development | 65.1 m | 95.3 m | 116.5 m | 104.7 m | 74.0 m | 73.5 m | SEC (XBRL)· 15 Apr 2026verified |
| Operating income | -276.7 m | -148.0 m | -112.3 m | -65.7 m | 20.4 m | 31.6 m | SEC (XBRL)· 15 Apr 2026verified |
| Depreciation & amortisation | 2.5 m | 4.7 m | 6.1 m | 4.2 m | 4.0 m | 3.3 m | SEC (XBRL)· 15 Apr 2026verified |
| EBITDA | -274.3 m ≈ | -143.3 m ≈ | -106.2 m ≈ | -61.5 m ≈ | 24.4 m ≈ | 35.0 m ≈ | SEC (XBRL)· 15 Apr 2026derived |
| Interest expense | 4.8 m | 5.0 m | 6.6 m | 9.8 m | 10.0 m | 9.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Pre-tax income | -268.3 m | -144.3 m | -105.3 m | -75.9 m | 11.1 m | 16.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Income tax | 449.0 k | 1.0 m | 2.0 m | 1.6 m | 823.0 k | 2.4 m | SEC (XBRL)· 15 Apr 2026verified |
| Net income | -268.6 m | -156.2 m | -108.1 m | -77.5 m | 10.3 m | 13.9 m | SEC (XBRL)· 15 Apr 2026verified |
| Diluted EPS | -2.38 | -1.28 | -0.85 | -0.64 | 0.10 | 0.13 | SEC (XBRL)· 15 Apr 2026verified |
| Weighted average diluted shares | 112.9 m | 121.7 m | 123.6 m | 121.4 m | 118.2 m | 119.9 m | SEC (XBRL)· 15 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 93.4 m | 50.7 m | 113.6 m | 64.0 m | 81.2 m | 62.9 m | SEC (XBRL)· 15 Apr 2026verified |
| Receivables | 41.2 m | 39.0 m | 58.7 m | 49.9 m | 57.4 m | 54.5 m | SEC (XBRL)· 15 Apr 2026verified |
| Inventories | 22.8 m | 40.1 m | 33.7 m | 30.6 m | 23.9 m | 20.1 m | SEC (XBRL)· 15 Apr 2026verified |
| Current assets | 283.8 m | 356.2 m | 271.1 m | 183.1 m | 203.7 m | 246.3 m | SEC (XBRL)· 15 Apr 2026verified |
| Property, plant & equipment, net | 7.0 m | — | — | — | — | — | SEC (XBRL)· 28 Apr 2021verified |
| Goodwill | — | 17.3 m | 15.9 m | 15.5 m | 15.1 m | 15.7 m | SEC (XBRL)· 15 Apr 2026verified |
| Total assets | 317.3 m | 413.3 m | 330.0 m | 234.7 m | 248.6 m | 282.4 m | SEC (XBRL)· 15 Apr 2026verified |
| Accounts payable | 21.7 m | 25.3 m | 40.9 m | 22.4 m | 19.9 m | 15.7 m | SEC (XBRL)· 15 Apr 2026verified |
| Current liabilities | 520.1 m | 476.1 m | 460.9 m | 436.5 m | 403.7 m | 419.7 m | SEC (XBRL)· 15 Apr 2026verified |
| Total liabilities | 532.9 m | 528.0 m | 544.2 m | 534.6 m | 534.8 m | 559.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Equity | -215.6 m | -126.9 m | -223.5 m | -305.2 m | -286.2 m | -276.6 m | SEC (XBRL)· 15 Apr 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -49.3 m | -211.3 m | -87.4 m | -61.7 m | -9.3 m | 7.9 m | SEC (XBRL)· 15 Apr 2026verified |
| Capex | 5.6 m | 10.0 m | 10.0 m | 2.5 m | 1.6 m | 3.7 m | SEC (XBRL)· 15 Apr 2026verified |
| Free cash flow | -54.9 m ≈ | -221.2 m ≈ | -97.4 m ≈ | -64.2 m ≈ | -10.9 m ≈ | 4.2 m ≈ | SEC (XBRL)· 15 Apr 2026derived |
| Investing cash flow | 116.6 m | 7.4 m | 18.2 m | 17.7 m | -1.9 m | -36.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Financing cash flow | 4.1 m | 279.9 m | 26.8 m | -2.7 m | 31.3 m | 6.5 m | SEC (XBRL)· 15 Apr 2026verified |
| Share repurchases | — | — | 7.4 m | 18.0 m | 8.5 m | — | SEC (XBRL)· 15 Apr 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 56.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 2.5 bn USD
Key indicators
Coverage and freshness
Score by group
56% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.04 – 2.22 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E1.04 – 2.22 (Mid 1.64)16 companies used · median multiple 12.6x · quartiles 8.0x – 17.1xAPEI, CVSA, IH, LAUR, LFS, LGCY, LINC, LOPE, LRN, PRDO, PXED, STG, STRA, TAL, VSA, YOUL
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 56.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 1.6% | 47 (vs peers) | 11% |
| FCF conversion · Quality | 30.5% | 1 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | -5.9% | 0 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 3.5x | 31 (on a fixed band) | 11% |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 159.2x | 5 (vs peers) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 0.2% | 2 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 0.3% | 5 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet19/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality24/100 · 2/3 factors with a value
- Returns· partial5/100 · 1/2 factors with a value
- Valuation4/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Youdao, Inc. (DAO). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 845.0 m USD in 2025; YoY growth 9.6%; net margin 1.6%.
The estimated value range is 1.04–2.22 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.64 USD, the price of 20.69 USD leaves a potential of -92.1% (value / price − 1) and a margin of safety of -1,159.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 56.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- FCF conversion: 30.5%
- Revenue CAGR 3Y: -5.9%
- Current ratio: 0.6x
- P/E (TTM): 159.2x
- FCF yield: 0.2%
- Shareholder yield (distributions): 0.3%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Services-Educational Services (SIC 8200) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EDUNew Oriental Education & Technology Group Inc. | 80.7 bn | 169.7 | 12.4% | 8.4% | +15.5% | +2% / −36% |
| LAURLaureate Education, Inc. | 4.8 bn | 12.9 | 34.1% | 20.3% | +8.6% | +14% / +168% |
| CVSACovista Inc. | 4.1 bn | 17.0 | 17.9% | 12.8% | +9.3% | +34% / +118% |
| COE51Talk Online Education Group | 4.1 bn | — | — | -17.6% | +88.6% | −73% / +43% |
| LOPEGrand Canyon Education, Inc. | 3.8 bn | 16.1 | 35.9% | 21.9% | +7.1% | −4% / +10% |
| LRNStride, Inc. | 3.3 bn | 10.9 | 20.9% | 13.2% | +4.7% | +25% / +31% |
| NAMIJinxin Technology Holding Company | 2.6 bn | — | -89.7% | -22.8% | +6.1% | −89% / unavailable |
| DAOYoudao, Inc. | 2.5 bn | 159.2 | — | 1.6% | +9.6% | +99% / +376% |
| PRDOPerdoceo Education Corp | 1.9 bn | 10.9 | 17.6% | 20.6% | +24.2% | +7% / +72% |
| STRAStrategic Education, Inc. | 1.7 bn | 12.4 | 8.2% | 10.5% | +4.0% | −5% / −16% |
| YQ17 Education & Technology Group Inc. | 1.5 bn | — | -46.5% | -145.6% | −41.5% | −41% / +14% |
| UTIUniversal Technical Institute, Inc | 1.2 bn | 36.3 | 10.5% | 3.9% | +14.0% | −3% / +91% |
| PXEDPhoenix Education Partners, Inc. | 794.4 m | 9.5 | 30.1% | 8.7% | +1.0% | −36% / unavailable |
| APEIAmerican Public Education, Inc. | 776.2 m | 17.5 | 15.6% | 6.8% | +3.9% | +22% / +439% |
| LINCLincoln Educational Services Corporation | 637.9 m | 28.0 | 11.9% | 4.0% | +17.8% | −2% / +117% |
| JZJianzhi Education Technology Group Company Limited | 522.3 m | — | -44.4% | -22.4% | −70.6% | −98% / −100% |
| GOTUGaotu Techedu Inc. | 373.9 m | — | -20.8% | -5.3% | +40.9% | −0% / −9% |
| IHiHuman Inc. | 245.2 m | 22.8 | 10.0% | 11.8% | −8.7% | −60% / −59% |
| FEDUFour Seasons Education (Cayman) Inc. | 210.5 m | 46.6 | 6.8% | 12.1% | +7.6% | −30% / +13% |
| LXEHLixiang Education Holding Co. Ltd. | 155.2 m | — | -83.1% | -395.4% | −1.9% | −63% / −99% |
| LGCYLegacy Education Inc. | 118.1 m | 14.0 | 19.5% | 11.4% | +24.8% | −12% / unavailable |
| EEIQEpicQuest Education Group International Limited | 93.6 m | — | -34.8% | -27.2% | +9.6% | −23% / −81% |
| VSAVisionSys AI Inc | 81.8 m | 0.3 | — | 164,963.8% | −99.9% | −97% / −100% |
| CHGGChegg, Inc | 71.1 m | — | -30.7% | -17.2% | −39.0% | −34% / −94% |
| AMBOAmbow Education Holding Ltd. | 62.3 m | — | -2.9% | -2.6% | +0.8% | −61% / −10% |
1- and 3-year price returns: for DAO from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 9.95 Total return -52% · Per year -52% | 17.69 Total return -15% · Per year -15% | 26.76 Total return 29% · Per year 29% |
| 3 years | 7.90 Total return -62% · Per year -27% | 15.96 Total return -23% · Per year -8% | 26.76 Total return 29% · Per year 9% |
| 5 years | 6.28 Total return -70% · Per year -21% | 14.41 Total return -30% · Per year -7% | 26.76 Total return 29% · Per year 5% |
- Exit P/E± 3.99
- Net margin± 2.79
- Annual revenue growth± 2.52
- Annual dilution± 0.23
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 15 Apr 2026; since then the company filed 6-K (20 Aug 2026), 6-K (21 May 2026).
In brief
Youdao, Inc. is an AI solutions provider for learning and advertising in China, offering educational services, smart devices and online marketing. Total net revenues reached 5909.0 million RMB in fiscal 2025 1, and online marketing has become the largest revenue source, at 43.0% of the total 1. The company is steering its strategy toward its own language models and AI agents.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Dependence on the NetEase grouphigh
A significant part of online marketing demand comes from the NetEase group, and a change in that relationship could affect revenue 1.
- Regulatory risk in Chinahigh
Changes to rules on education and advertising could affect the business model and require restructuring 1.
- VIE structuremedium
Control over operating entities rests on contractual arrangements, which can create legal uncertainty 1.
- Margin pressuremedium
Lower gross margins in online marketing and learning services could reduce profitability 1.
- Loss of device sharelow
If new products do not find demand, the device segment could keep losing share 1.
Investment thesis
What would need to be true (bull case)
- If online marketing keeps growing and diversifying, the company could reduce its reliance on tutoring and on a single client 1.
- The Confucius model and its integration into products could support new subscriptions and margin recovery over time 1.
- A broad user base could support sales of digital content and smart devices 1.
What would break the thesis
- If pressure on traffic acquisition costs persists, advertising margins could decline further 1.
- A new round of education regulation could affect learning services, which remain the main source of revenue overall 1.
- If new devices fail to recover lost share, the segment could continue contributing less 1.
What to watch
- Trend in online marketing gross marginQ1 2027
- NetEase share of advertising revenue2027
- New Chinese education regulation measures2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 15 Apr 2026; since then the company filed 6-K (20 Aug 2026), 6-K (21 May 2026).
The business
Youdao, Inc. describes itself as a company that 'makes learning happen' and develops applications, content, devices and solutions for users of all ages 1. It positions itself as an AI solutions provider specializing in learning and advertising, pursuing an AI-native strategy built on vertical LLMs for education and marketing 1. Its corporate headquarters is in Hangzhou, China, and its ADSs trade on the NYSE under the symbol DAO 1.
The business runs three reportable segments: learning services, smart devices and online marketing services 1. After exiting the Academic AST Business in 2021, the company focused on digital learning content and STEAM courses 1. Its proprietary LLM, Confucius, is integrated into products such as Youdao Lingshi, Hi Echo and Mr. P AI Tutor 1.
The revenue mix has shifted in recent years, with online marketing growing from 2023 to 2025 while tutoring declined as a share 1. The consolidation structure includes VIEs in China, meaning a significant part of the business is operated through contractual arrangements 1.
Segments
Online marketing services
The segment sells performance-based advertising, mostly charged per click, and global marketing services, reaching 43.0% of revenue in fiscal 2025 1. Growth in 2025 was driven by demand from the NetEase group and overseas markets 1. Gross margin fell to 27.1% in fiscal 2025 as traffic acquisition costs rose 1.
Market context
The company operates in China's intelligent learning industry, where education spending is supported by internet and mobile penetration 1. Advertising revenue depends on advertisers' budgets, while learning revenue depends on private consumer demand 1. The falling share of traditional tutoring and the rising share of online marketing show how the market structure the company serves is changing 1.
The market is shaped by Chinese government regulation of education, which in 2021 required the exit from compulsory academic tutoring 1. Pressure on traffic acquisition costs and competition for advertising budgets affect segment margins 1.
Trends
- Generative AImixed
The company developed its own Confucius model and integrated it into services and devices, which could support new products and operating efficiency 1. Research and development costs could nonetheless remain high during the investment phase 1.
- Growth in digital advertisingtailwind
Demand from the NetEase group and overseas markets supported growth in online marketing, now the largest segment 1. If this demand extends to new vertical industries, the segment could keep growing 1.
- Education regulation in Chinaheadwind
Regulations adopted in the second half of 2021 led the company to exit compulsory academic tutoring, and the remaining business stays under supervision 1. New measures could further limit the learning services segment 1.
- Demand for educational devicesmixed
Demand for smart learning devices depends on product innovation and adaptation to user needs 1. Device sales have declined as a share of revenue in recent years, showing pressure on this product line 1.
Competitive position
The company competes in digital learning, online tutoring and performance-based advertising, where it must offer differentiated products to users and advertisers 1. Competitive pressure is most visible in online marketing, where traffic acquisition costs have increased 1. The provided sources do not detail all direct competitors 1.
In smart devices and educational content, the company faces similar offerings from other Chinese providers, and it differentiates through AI technology and its content ecosystem 1. Its advantage relates to the Confucius model and its integration into products 1.
- NetEase
The group from which the company separated and which remains an important client for the online marketing segment 1.
- Online tutoring providers in China
Competitors in learning services and digital courses, offering similar options to the same consumers 1.
- Performance advertising platforms in China
Competitors for advertiser budgets in per-click online marketing 1.
- Smart learning device manufacturers
Competitors for educational device sales, where product innovation is decisive 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)20 Aug 2026
- Current report (foreign issuer)21 May 2026
- Current report (foreign issuer)15 Apr 2026
- Annual report (foreign issuer)15 Apr 2026
- Current report (foreign issuer)11 Feb 2026
- Current report (foreign issuer)20 Nov 2025
- Current report (foreign issuer)20 Nov 2025
- Current report (foreign issuer)14 Aug 2025
- Current report (foreign issuer)15 May 2025
- Current report (foreign issuer)15 Apr 2025
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Youdao, Inc. · 15 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.