China Online Education Group (COE) Key Metrics
COE valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $68.1M
- Enterprise value
- $32.0M
- P/E (TTM)
- —
- Forward P/E
- 3.0
- PEG ratio
- —
- Price / sales
- 0.6
- Price / book
- 2.9
- EV / EBITDA
- 2.1
- Dividend yield
- —
- Beta
- 0.73
COE key metrics, 2023–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCOE returns How much profit the business earns on the capital it uses.
COE financial health Debt, liquidity and how easily interest is covered.
COE efficiency & capital use Working capital cycle and where the cash goes.
COE returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
COE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
COE key metrics
2023–2025| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Valuation | |||
| Share price at fiscal year-end | $31.93 | $20.50 | $8.03 |
| Returns & profitability | |||
| Return on assets (ROA) | −30.6% | −19.3% | −48.2% |
| Return on tangible assets | −25.5% | −16.5% | −48.4% |
| Free cash flow margin | 9.9% | 10.9% | 1.0% |
| Financial health | |||
| Total debt | $2.9M | $2.7M | $631,000 |
| Cash & short-term investments | $39.0M | $29.2M | $23.4M |
| Net debt | −$36.0M | −$26.5M | −$22.8M |
| Debt / assets | 0.04 | 0.06 | 0.02 |
| Current ratio | 0.63 | 0.70 | 0.76 |
| Quick ratio | 0.63 | 0.70 | 0.63 |
| Working capital | −$35.0M | −$16.8M | −$9.3M |
| Invested capital | −$67.4M | −$41.5M | −$31.1M |
| Tangible asset value | −$31.4M | −$14.8M | −$8.3M |
| Net current asset value | −$36.9M | −$18.6M | −$9.6M |
| Capital allocation | |||
| Share buybacks (net) | — | — | $0 |
| Dividends + buybacks / free cash flow | — | — | 0.0% |
| Capex / revenue | 2.4% | 0.6% | 1.1% |
| Capex / operating cash flow | 19.4% | 5.3% | 51.3% |
| Capex / depreciation | 5.29 | 2.25 | 2.90 |
| Stock-based compensation / revenue | 1.4% | 1.8% | 3.4% |
| R&D / revenue | 5.7% | 7.0% | 11.4% |
| SG&A / revenue | 83.1% | 86.8% | 115.7% |
| Efficiency | |||
| Days sales outstanding | 23.2 | 4.4 | 7.1 |
| Days of inventory on hand | — | — | 305.6 |
| Days payables outstanding | — | — | 642.4 |
| Cash conversion cycle (days) | — | — | -329.6 |
| Receivables turnover | 15.73 | 82.03 | 51.15 |
| Payables turnover | — | — | 0.57 |
| Inventory turnover | — | — | 1.19 |
| Asset turnover | 1.74 | 1.35 | 0.87 |
| Average receivables | $6.1M | $618,000 | $530,000 |
| Average payables | — | — | $11.1M |
| Average inventory | — | — | $5.3M |
| Intangibles / total assets | 0.2% | 0.2% | 0.3% |
Computed from COE's annual financial statements (latest annual report filed April 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
COE valuation and financial ratios
It ended the year with $2.9 million of debt and $39.0 million in cash and short-term investments, a net cash position of $36.0 million.
See the COE income statement, the COE chart for price history, or the COE stock overview for the latest quote and news.
COE key metrics FAQ
How much debt does China Online Education have?
China Online Education had total debt of $2.9 million at the end of fiscal 2025 and more cash than debt.
What is China Online Education's current ratio?
China Online Education's current ratio was 0.63 at the end of fiscal 2025: current assets were 0.63 times current liabilities.