Gaotu Techedu Inc. (GOTU) Balance Sheet

NYSE: GOTUAssets, liabilities, debt and equity over 9 years.

GOTU balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥6.20B assets = CN¥4.95B liabilities + CN¥1.25B equity

Both columns are drawn to the same scale: what GOTU owns equals what it owes plus shareholders’ equity. Hover a block for its value.

GOTU financial health

Current ratio0.94

Tight · current assets cover current liabilities 0.94×

Debt / equity0.47

Low leverage · CN¥0.47 of debt for each $1 of equity

Equity / assets20.2%

Balanced · of assets funded by shareholders

Cash / debt584.5%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles2.1%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

GOTU balance sheet trends, 2017–2025

Gaotu Techedu Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥103.2M2017	CN¥6.20B2025	+66.9%/yr
Total liabilities	CN¥582.6M2017	CN¥4.95B2025	+30.7%/yr
Shareholders’ equity	−CN¥479.4M2017	CN¥1.25B2025	—
Cash & short-term investments	CN¥27.3M2017	CN¥3.42B2025	+83.0%/yr
Total debt	CN¥254.2M2019	CN¥585.7M2025	+14.9%/yr
Net cash (debt)	CN¥1.29B2019	CN¥2.84B2025	+CN¥1.5B
Working capital	−CN¥102.7M2017	−CN¥265.1M2025	−CN¥162.4M
Current ratio	0.342017	0.942025	+0.60
Debt / equity	0.162019	0.472025	+0.30
Shares outstanding	356.9M2017	367.0M2025	+0.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

GOTU assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

GOTU liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

GOTU debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

GOTU balance sheet in Chinese yuan

Gaotu Techedu Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017
Assets
Cash & short-term investments	CN¥3.42B	CN¥3.17B	CN¥2.89B	CN¥3.74B	CN¥3.50B	CN¥7.69B	CN¥1.55B	CN¥231.2M	CN¥27.3M
Cash & equivalents	CN¥712.5M	CN¥1.32B	CN¥636.1M	CN¥819.9M	CN¥728.9M	CN¥355.2M	CN¥74.0M	CN¥33.3M	CN¥19.3M
Short-term investments	CN¥2.71B	CN¥1.85B	CN¥2.25B	CN¥2.92B	CN¥2.77B	CN¥7.33B	CN¥1.47B	CN¥198.0M	CN¥8.0M
Receivables	CN¥228.4M	CN¥148.5M	CN¥71.7M	CN¥24.5M	CN¥50.0M	CN¥11.6M	CN¥26.6M	CN¥25.1M	CN¥20.4M
Inventory	CN¥55.0M	CN¥36.4M	CN¥24.6M	CN¥22.8M	CN¥15.6M	CN¥48.1M	CN¥8.8M	CN¥23.2M	CN¥0
Other current assets	CN¥276.7M	CN¥288.6M	CN¥600.4M	CN¥375.4M	CN¥368.3M	CN¥711.1M	CN¥226.1M	CN¥1.3M	CN¥4.7M
Total current assets	CN¥3.98B	CN¥3.64B	CN¥3.59B	CN¥4.17B	CN¥3.94B	CN¥8.46B	CN¥1.81B	CN¥280.8M	CN¥52.3M
Property, plant & equipment (net)	CN¥1.49B	CN¥1.17B	CN¥723.2M	CN¥635.7M	CN¥1.03B	CN¥1.51B	CN¥346.8M	CN¥16.8M	CN¥7.1M
Goodwill & intangible assets	CN¥131.6M	CN¥44.1M	CN¥43.1M	CN¥46.6M	CN¥28.6M	CN¥85.8M	CN¥431,000	CN¥568,000	CN¥20.4M
Long-term investments	CN¥551.6M	CN¥922.7M	CN¥1.03B	CN¥0	CN¥0	CN¥530.7M	CN¥1.19B	CN¥5.2M	CN¥7.6M
Other non-current assets	CN¥50.6M	CN¥47.6M	CN¥30.7M	CN¥27.4M	CN¥25.4M	CN¥101.1M	CN¥50.1M	CN¥34.8M	CN¥15.7M
Total assets	CN¥6.20B	CN¥5.83B	CN¥5.41B	CN¥4.88B	CN¥5.02B	CN¥10.69B	CN¥3.39B	CN¥338.2M	CN¥103.2M
Liabilities
Accounts payable	—	—	CN¥736.9M	—	CN¥608.4M	CN¥1.20B	CN¥183.9M	—	—
Short-term debt	CN¥236.7M	CN¥147.6M	CN¥50.5M	CN¥38.3M	CN¥80.0M	CN¥152.6M	CN¥60.0M	—	—
Deferred revenue	CN¥2.29B	—	CN¥1.11B	CN¥906.9M	CN¥987.0M	CN¥2.72B	CN¥1.33B	CN¥263.3M	CN¥45.8M
Total current liabilities	CN¥4.25B	CN¥3.26B	CN¥1.97B	CN¥1.61B	CN¥1.76B	CN¥4.20B	CN¥1.64B	CN¥355.9M	CN¥155.0M
Long-term debt	CN¥31.9M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥453.4M	CN¥492.2M	CN¥188.1M	CN¥82.5M	CN¥356.0M	CN¥796.8M	CN¥254.2M	—	—
Other long-term liabilities	CN¥669.0M	CN¥634.0M	CN¥333.8M	CN¥171.1M	CN¥383.5M	CN¥758.5M	CN¥199.9M	CN¥474.8M	CN¥427.6M
Total liabilities	CN¥4.95B	CN¥3.89B	CN¥2.31B	CN¥1.78B	CN¥2.14B	CN¥4.96B	CN¥1.84B	CN¥830.7M	CN¥582.6M
Shareholders' equity
Common stock & paid-in capital	CN¥116,070	CN¥116,000	CN¥116,000	CN¥115,000	CN¥114,000	CN¥113,000	CN¥106,000	CN¥60,000	CN¥60,000
Retained earnings (deficit)	−CN¥6.21B	−CN¥5.81B	−CN¥4.81B	−CN¥4.80B	−CN¥4.81B	−CN¥1.71B	−CN¥272.9M	−CN¥493.8M	−CN¥480.4M
Accumulated other comprehensive income	CN¥18.0M	−CN¥2.8M	CN¥17.0M	−CN¥23.7M	−CN¥102.7M	−CN¥19.5M	CN¥17.8M	CN¥1.2M	CN¥925,000
Total shareholders' equity	CN¥1.25B	CN¥1.93B	CN¥3.11B	CN¥3.10B	CN¥2.88B	CN¥5.73B	CN¥1.56B	−CN¥492.5M	−CN¥479.4M
Key figures
Total debt	CN¥585.7M	CN¥492.2M	CN¥188.1M	CN¥82.5M	CN¥356.0M	CN¥796.8M	CN¥254.2M	—	—
Net cash (debt)	CN¥2.84B	CN¥2.67B	CN¥2.70B	CN¥3.66B	CN¥3.15B	CN¥6.89B	CN¥1.29B	—	—
Working capital	−CN¥265.1M	CN¥379.2M	CN¥1.61B	CN¥2.56B	CN¥2.18B	CN¥4.26B	CN¥171.7M	−CN¥75.1M	−CN¥102.7M
Tangible book value	CN¥1.12B	CN¥1.89B	CN¥3.06B	CN¥3.05B	CN¥2.85B	CN¥5.64B	CN¥1.56B	−CN¥493.1M	−CN¥499.8M
Shares outstanding	367.0M	385.7M	386.8M	396.0M	384.3M	359.4M	313.8M	356.9M	356.9M
Current ratio	0.94	1.12	1.82	2.59	2.24	2.01	1.10	0.79	0.34
Quick ratio	0.86	1.02	1.50	2.34	2.02	1.83	0.96	0.72	0.31
Debt / equity	0.47	0.25	0.06	0.03	0.12	0.14	0.16	—	—
Equity / assets	20.2%	33.2%	57.4%	63.5%	57.3%	53.6%	45.9%	−145.6%	−464.5%

Gaotu Techedu Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥3.35B	CN¥2.73B	CN¥3.42B	CN¥2.41B	CN¥3.41B	CN¥2.44B	CN¥3.17B	CN¥2.34B	CN¥3.20B	CN¥2.79B	CN¥2.89B	CN¥2.46B
Cash & equivalents	CN¥929.9M	CN¥654.2M	CN¥712.5M	CN¥318.7M	CN¥814.4M	CN¥1.02B	CN¥1.32B	CN¥855.8M	CN¥1.41B	CN¥1.20B	CN¥636.1M	CN¥885.6M
Short-term investments	CN¥2.42B	CN¥2.07B	CN¥2.71B	CN¥2.10B	CN¥2.60B	CN¥1.42B	CN¥1.85B	CN¥1.48B	CN¥1.78B	CN¥1.59B	CN¥2.25B	CN¥1.58B
Receivables	CN¥7.5M	CN¥228.4M	CN¥0	CN¥0	CN¥0	CN¥148.5M	CN¥0	CN¥0	CN¥2.4M	CN¥71.7M	CN¥71.7M	CN¥10.7M
Inventory	CN¥49.4M	CN¥43.3M	CN¥55.0M	CN¥53.4M	CN¥53.3M	CN¥31.3M	CN¥36.4M	CN¥53.4M	CN¥38.4M	CN¥23.1M	CN¥24.6M	CN¥29.8M
Other current assets	CN¥459.3M	CN¥282.7M	CN¥505.1M	CN¥652.3M	CN¥555.0M	CN¥308.7M	CN¥437.1M	CN¥562.6M	CN¥594.6M	CN¥575.1M	CN¥600.4M	CN¥602.6M
Total current assets	CN¥3.87B	CN¥3.28B	CN¥3.98B	CN¥3.12B	CN¥4.02B	CN¥2.92B	CN¥3.64B	CN¥2.95B	CN¥3.83B	CN¥3.46B	CN¥3.59B	CN¥3.11B
Property, plant & equipment (net)	CN¥1.63B	CN¥1.55B	CN¥1.49B	CN¥1.34B	CN¥1.35B	CN¥1.18B	CN¥1.17B	CN¥1.20B	CN¥1.02B	CN¥820.6M	CN¥723.2M	CN¥650.8M
Goodwill & intangible assets	CN¥77.2M	CN¥88.7M	CN¥131.6M	CN¥45.4M	CN¥46.3M	CN¥25.9M	CN¥26.1M	CN¥26.0M	CN¥26.2M	CN¥26.7M	CN¥43.1M	CN¥26.8M
Long-term investments	CN¥642.9M	CN¥501.4M	CN¥551.6M	CN¥500.4M	CN¥387.5M	CN¥995.9M	CN¥922.7M	CN¥964.4M	CN¥905.8M	CN¥974.1M	CN¥1.03B	CN¥1.06B
Other non-current assets	CN¥96.6M	CN¥87.3M	CN¥50.6M	CN¥106.9M	CN¥66.3M	CN¥66.2M	CN¥65.6M	CN¥61.7M	CN¥59.2M	CN¥48.3M	CN¥30.7M	CN¥41.1M
Total assets	CN¥6.31B	CN¥5.51B	CN¥6.20B	CN¥5.11B	CN¥5.87B	CN¥5.19B	CN¥5.83B	CN¥5.21B	CN¥5.85B	CN¥5.33B	CN¥5.41B	CN¥4.89B
Liabilities
Accounts payable	—	—	—	—	—	—	—	—	—	—	CN¥736.9M	—
Short-term debt	CN¥678.6M	CN¥442.2M	CN¥236.9M	CN¥188.9M	CN¥137.4M	CN¥151.4M	CN¥147.6M	CN¥164.2M	CN¥107.5M	CN¥70.5M	CN¥50.5M	CN¥36.9M
Deferred revenue	CN¥2.37B	CN¥1.63B	CN¥2.29B	CN¥1.53B	CN¥1.98B	CN¥1.23B	—	CN¥1.22B	CN¥1.39B	CN¥856.8M	CN¥1.11B	CN¥631.2M
Total current liabilities	CN¥4.50B	CN¥3.62B	CN¥4.25B	CN¥3.04B	CN¥3.62B	CN¥2.64B	CN¥3.26B	CN¥2.46B	CN¥2.60B	CN¥1.79B	CN¥1.97B	CN¥1.30B
Long-term debt	CN¥155.2M	CN¥117.5M	CN¥31.9M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥437.1M	CN¥443.2M	CN¥453.4M	CN¥483.5M	CN¥500.4M	CN¥479.7M	CN¥492.2M	CN¥561.6M	CN¥416.3M	CN¥267.0M	CN¥188.1M	CN¥124.5M
Other long-term liabilities	CN¥606.0M	CN¥539.1M	CN¥669.0M	CN¥658.2M	CN¥648.7M	CN¥611.7M	CN¥634.0M	CN¥683.7M	CN¥570.1M	CN¥414.4M	CN¥333.8M	CN¥290.2M
Total liabilities	CN¥5.26B	CN¥4.28B	CN¥4.95B	CN¥3.70B	CN¥4.26B	CN¥3.25B	CN¥3.89B	CN¥3.14B	CN¥3.17B	CN¥2.20B	CN¥2.31B	CN¥1.59B
Shareholders' equity
Common stock & paid-in capital	CN¥116,037	CN¥116,000	CN¥116,070	CN¥116,000	CN¥116,000	CN¥116,000	CN¥116,000	CN¥116,000	CN¥116,000	CN¥116,000	CN¥116,000	CN¥116,000
Retained earnings (deficit)	−CN¥6.31B	−CN¥6.17B	−CN¥6.21B	−CN¥6.05B	−CN¥5.97B	−CN¥5.75B	−CN¥5.81B	−CN¥5.73B	−CN¥5.26B	−CN¥4.83B	−CN¥4.81B	−CN¥4.68B
Accumulated other comprehensive income	−CN¥16.4M	−CN¥5.1M	CN¥18.0M	−CN¥25.7M	CN¥43.4M	CN¥58.8M	−CN¥2.8M	CN¥15.3M	CN¥39.2M	CN¥35.0M	CN¥17.0M	CN¥30.3M
Total shareholders' equity	CN¥1.05B	CN¥1.23B	CN¥1.25B	CN¥1.41B	CN¥1.60B	CN¥1.93B	CN¥1.93B	CN¥2.07B	CN¥2.67B	CN¥3.13B	CN¥3.11B	CN¥3.29B
Key figures
Total debt	CN¥972.7M	CN¥860.7M	CN¥585.7M	CN¥532.0M	CN¥500.4M	CN¥479.7M	CN¥492.2M	CN¥561.6M	CN¥416.3M	CN¥267.0M	CN¥188.1M	CN¥124.5M
Net cash (debt)	CN¥2.38B	CN¥1.87B	CN¥2.84B	CN¥1.88B	CN¥2.91B	CN¥1.96B	CN¥2.67B	CN¥1.78B	CN¥2.78B	CN¥2.52B	CN¥2.70B	CN¥2.34B
Working capital	−CN¥634.3M	−CN¥342.9M	−CN¥265.1M	CN¥76.3M	CN¥401.8M	CN¥282.8M	CN¥379.2M	CN¥496.4M	CN¥1.23B	CN¥1.67B	CN¥1.61B	CN¥1.80B
Tangible book value	CN¥969.7M	CN¥1.14B	CN¥1.12B	CN¥1.37B	CN¥1.56B	CN¥1.91B	CN¥1.91B	CN¥2.04B	CN¥2.65B	CN¥3.10B	CN¥3.06B	CN¥3.26B
Shares outstanding	355.5M	361.8M	361.2M	364.3M	367.5M	381.6M	253.7M	385.1M	389.3M	387.7M	259.1M	392.9M
Current ratio	0.86	0.91	0.94	1.03	1.11	1.11	1.12	1.20	1.47	1.94	1.82	2.38
Quick ratio	0.75	0.82	0.81	0.79	0.94	0.98	0.97	0.95	1.23	1.60	1.50	1.90
Debt / equity	0.93	0.70	0.47	0.38	0.31	0.25	0.25	0.27	0.16	0.09	0.06	0.04
Equity / assets	16.6%	22.3%	20.2%	27.6%	27.3%	37.3%	33.2%	39.7%	45.7%	58.7%	57.4%	67.4%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 22, 2026); data from EODHD.

GOTU financial position

At the end of fiscal 2025 (December 31, 2025), Gaotu Techedu had total assets of CN¥6.2 billion (up 6.4% from a year earlier), total liabilities of CN¥4.9 billion and shareholders' equity of CN¥1.3 billion. It held CN¥3.4 billion in cash and short-term investments against CN¥585.7 million of debt, a net cash position of CN¥2.8 billion. Its current ratio was 0.94. In the latest quarter (ended June 30, 2026) total assets were CN¥6.3 billion and equity CN¥1.0 billion.

Related: GOTU income statement, GOTU cash flow statement, GOTU key metrics. See the GOTU stock overview for the latest quote and news.

GOTU balance sheet FAQ

What are Gaotu Techedu's total assets?

Gaotu Techedu reported total assets of CN¥6.2 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥5.8 billion a year earlier.

How much debt does Gaotu Techedu have?

Gaotu Techedu had CN¥585.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.47.

How much cash does Gaotu Techedu have?

Gaotu Techedu held CN¥3.4 billion in cash and short-term investments at the end of fiscal 2025; with CN¥585.7 million of debt that is net cash of CN¥2.8 billion.

What is Gaotu Techedu's book value?

Gaotu Techedu's shareholders' equity (book value) was CN¥1.3 billion at the end of fiscal 2025.

What is Gaotu Techedu's current ratio?

Gaotu Techedu had current assets of CN¥4.0 billion and current liabilities of CN¥4.2 billion, a current ratio of 0.94 (current liabilities exceed current assets).

How much goodwill does Gaotu Techedu have?

Gaotu Techedu carried CN¥131.6 million of goodwill and intangible assets, 2.1% of total assets, at the end of fiscal 2025.