TCTM Kids IT Education Inc. (VSA) Key Metrics
VSA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Chinese yuanVSA returns How much profit the business earns on the capital it uses.
Cash conversion (OCF / net income)
−0.11
2025 · hover or tap a bar for each year
20162025
Asset turnover−99.5%
0.01
2025 · hover or tap a bar for each year
20162025
VSA financial health Debt, liquidity and how easily interest is covered.
Net debt−CN¥261.3M
−CN¥53.4M
2025 · hover or tap a bar for each year
20162025
Current ratio+46,446.3%
14.43
2025 · hover or tap a bar for each year
20162025
VSA efficiency & capital use Working capital cycle and where the cash goes.
Capex / revenue+7,334.3 pts
7,339.9%
2025 · hover or tap a bar for each year
20162025
VSA returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
VSA debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
VSA cash returned to shareholders
DividendsBuybacksFree cash flow
VSA key metrics in Chinese yuan
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | — | — | — | — | −64.1% | −0.0% | 15.4% |
| Return on invested capital (ROIC) | — | — | — | — | — | — | — | — | −0.2% | 53.0% |
| Return on assets (ROA) | — | −104.8% | 0.8% | 5.6% | −26.4% | −34.3% | −47.2% | −30.3% | −0.0% | 12.1% |
| Return on tangible assets | — | −582.9% | 0.9% | 6.5% | −30.1% | −40.5% | −42.4% | −32.7% | −0.0% | 10.9% |
| Free cash flow margin | — | −16.0% | −11.2% | −4.1% | −3.1% | −9.9% | −9.4% | −5.4% | 7.1% | 7.4% |
| Income quality (OCF / net income) | −0.11 | — | −13.32 | −0.33 | — | — | — | — | — | 2.19 |
| Financial health | ||||||||||
| Total debt | — | CN¥223.2M | CN¥219.6M | CN¥287.7M | CN¥542.5M | CN¥616.0M | CN¥839.7M | CN¥13.7M | — | — |
| Cash & short-term investments | CN¥53.4M | CN¥15.3M | CN¥221.0M | CN¥198.5M | CN¥430.0M | CN¥326.4M | CN¥620.8M | CN¥689.6M | CN¥1.12B | CN¥1.23B |
| Net debt | −CN¥53.4M | CN¥207.9M | −CN¥1.3M | CN¥89.2M | CN¥112.5M | CN¥289.6M | CN¥218.9M | −CN¥675.8M | −CN¥1.12B | −CN¥1.23B |
| Debt / equity | — | — | — | — | — | — | — | 0.02 | — | — |
| Debt / assets | — | 2.22 | 0.22 | 0.22 | 0.33 | 0.31 | 0.33 | 0.01 | — | — |
| Net debt / EBITDA | — | — | −0.01 | 0.47 | — | — | — | — | −11.25 | −4.15 |
| Current ratio | 14.43 | 0.03 | 0.23 | 0.25 | 0.21 | 0.20 | 0.34 | 0.71 | 1.79 | 3.02 |
| Quick ratio | 14.43 | 0.03 | 0.23 | 0.25 | 0.21 | 0.20 | 0.34 | 0.71 | 1.79 | 3.02 |
| Working capital | CN¥51.3M | −CN¥1.76B | −CN¥1.85B | −CN¥1.99B | −CN¥2.32B | −CN¥2.13B | −CN¥1.57B | −CN¥374.8M | CN¥588.9M | CN¥971.1M |
| Invested capital | CN¥49.3M | −CN¥1.59B | −CN¥1.50B | −CN¥1.41B | −CN¥1.47B | −CN¥842.4M | −CN¥181.1M | −CN¥103.2M | CN¥150.3M | CN¥370.8M |
| Tangible asset value | CN¥51.3M | −CN¥1.80B | −CN¥1.56B | −CN¥1.56B | −CN¥1.66B | −CN¥1.21B | −CN¥473.5M | CN¥499.8M | CN¥1.26B | CN¥1.59B |
| Net current asset value | CN¥51.3M | −CN¥1.85B | −CN¥1.96B | −CN¥2.18B | −CN¥2.61B | −CN¥2.56B | −CN¥2.11B | −CN¥380.8M | CN¥584.6M | CN¥964.1M |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | CN¥0 | — | CN¥43.0M | CN¥63.1M | CN¥54.0M |
| Share buybacks (net) | CN¥0 | CN¥7.4M | CN¥2.4M | CN¥17.1M | CN¥0 | CN¥0 | CN¥5.1M | CN¥197.0M | CN¥143.4M | CN¥44.4M |
| Dividend payout ratio | — | — | — | — | — | — | — | — | — | 23.9% |
| Dividends + buybacks / free cash flow | — | — | — | — | — | — | — | — | 165.3% | 87.6% |
| Capex / revenue | 7,339.9% | 5.6% | 2.5% | 2.1% | 3.8% | 4.2% | 7.9% | 13.2% | 10.1% | 25.2% |
| Capex / operating cash flow | — | — | — | — | 544.8% | — | — | 169.4% | 58.6% | 77.3% |
| Capex / depreciation | 20.00 | 0.51 | 0.21 | 0.14 | 0.21 | 0.23 | 0.39 | 1.74 | 1.75 | 5.21 |
| Stock-based compensation / revenue | — | 0.1% | 0.2% | 0.8% | 1.1% | 1.9% | 2.9% | 6.0% | 4.4% | 4.5% |
| R&D / revenue | — | 1.6% | 0.8% | 1.4% | 3.3% | 5.3% | 6.5% | 8.0% | 5.7% | 4.3% |
| SG&A / revenue | 3,870.1% | 77.8% | 43.6% | 48.4% | 64.5% | 81.0% | 89.8% | 76.4% | 60.6% | 51.9% |
| Efficiency | ||||||||||
| Days sales outstanding | — | -6.7 | 0.0 | 6.4 | 15.2 | 11.7 | 14.1 | 15.2 | 20.0 | 32.3 |
| Days of inventory on hand | — | 4.8 | 4.6 | — | 2.4 | 1.7 | 1.1 | 0.7 | — | — |
| Days payables outstanding | — | 2.7 | 2.5 | 3.6 | 4.4 | 4.6 | 5.5 | 5.9 | 4.9 | 3.7 |
| Cash conversion cycle (days) | — | -4.5 | 2.1 | 2.9 | 13.2 | 8.8 | 9.7 | 10.0 | 15.1 | 28.6 |
| Receivables turnover | — | — | 20,223.41 | 56.69 | 24.05 | 31.21 | 25.92 | 23.98 | 18.26 | 11.30 |
| Payables turnover | — | 136.35 | 146.55 | 102.79 | 82.85 | 79.45 | 66.90 | 61.48 | 74.81 | 99.49 |
| Inventory turnover | — | 75.33 | 80.19 | — | 151.61 | 214.42 | 330.70 | 517.78 | — | — |
| Asset turnover | 0.01 | 2.09 | 1.17 | 0.94 | 0.69 | 0.85 | 0.93 | 1.07 | 0.85 | 0.81 |
| Average receivables | — | −CN¥21.5M | CN¥68,000 | CN¥24.7M | CN¥51.4M | CN¥60.8M | CN¥79.1M | CN¥87.0M | CN¥96.0M | CN¥134.5M |
| Average payables | — | CN¥5.5M | CN¥5.1M | CN¥7.1M | CN¥9.6M | CN¥13.4M | CN¥17.5M | CN¥14.9M | CN¥7.9M | CN¥4.5M |
| Average inventory | — | CN¥9.9M | CN¥9.4M | — | CN¥5.2M | CN¥5.0M | CN¥3.5M | CN¥1.8M | — | — |
| Intangibles / total assets | 48.3% | 0.0% | 5.4% | 4.2% | 3.8% | 3.4% | 2.8% | 3.8% | 0.4% | 0.2% |
Computed from VSA's annual financial statements (latest annual report filed May 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Chinese yuan; data from EODHD. Averages use the opening and closing balance of each year.
VSA valuation and financial ratios
See the VSA income statement, the VSA chart for price history, or the VSA stock overview for the latest quote and news.
VSA key metrics FAQ
What is TCTM Kids IT Education's current ratio?
TCTM Kids IT Education's current ratio was 14.43 at the end of fiscal 2025: current assets were 14.43 times current liabilities.