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Graham vs Gaotu Techedu: revenue, profit, margins and growth compared

Graham brought in $4.9B of revenue in fiscal 2025, Gaotu Techedu $879M in fiscal 2025. Revenue changed by +2.5% at Graham and +40.9% at Gaotu Techedu on the year before, so Gaotu Techedu grew faster. Graham kept 6.0% of its revenue as net profit, Gaotu Techedu -5.3%. Free cash flow was $275.3M at Graham and $35.3M at Gaotu Techedu.

Side by side, latest fiscal year

GHCGOTU
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.9B$879M
Revenue growth+2.5%+40.9%
Net income$292.3M-$46.2M
Net margin6.0%-5.3%
Free cash flow$275.3M$35.3M
Free cash flow margin5.6%4.0%
Earnings per share (diluted)$66.47-$0.28
Cash$267M$85.3M
Debt$880.8M$4.6M
Price to earnings17.4n/a
Market value$4.9B$586.6M
Dividend yield0.62%n/a
Rank by revenue in sector#12 of 162 · Real estate#66 of 162 · Real estate

Over the years

Revenue
GHC FY2018: $2.7BGHC FY2019: $2.9BGHC FY2020: $2.9BGHC FY2021: $3.2BGHC FY2022: $3.9BGHC FY2023: $4.4BGHC FY2024: $4.8BGHC FY2025: $4.9BGOTU FY2019: $303.8MGOTU FY2020: $1.1BGOTU FY2021: $1BGOTU FY2022: $362.2MGOTU FY2023: $417MGOTU FY2024: $623.8MGOTU FY2025: $879MFY18FY19FY20FY21FY22FY23FY24FY25
GHC $4.9BGOTU $879M
Net income
GHC FY2018: $271.2MGHC FY2019: $327.9MGHC FY2020: $300.4MGHC FY2021: $352.1MGHC FY2022: $67.1MGHC FY2023: $205.3MGHC FY2024: $724.6MGHC FY2025: $292.3MGOTU FY2019: $32.6MGOTU FY2020: -$213.5MGOTU FY2021: -$487MGOTU FY2022: $1.9MGOTU FY2023: -$1MGOTU FY2024: -$143.7MGOTU FY2025: -$46.2MFY18FY19FY20FY21FY22FY23FY24FY25
GHC $292.3MGOTU -$46.2M
Net margin
GHC FY2018: 10.1%GHC FY2019: 11.2%GHC FY2020: 10.4%GHC FY2021: 11.1%GHC FY2022: 1.7%GHC FY2023: 4.6%GHC FY2024: 15.1%GHC FY2025: 6.0%GOTU FY2019: 10.7%GOTU FY2020: -19.6%GOTU FY2021: -47.3%GOTU FY2022: 0.5%GOTU FY2023: -0.2%GOTU FY2024: -23.0%GOTU FY2025: -5.3%FY18FY19FY20FY21FY22FY23FY24FY25
GHC 6.0%GOTU -5.3%
Revenue growth
GHC FY2019: +8.8%GHC FY2020: -1.5%GHC FY2021: +10.3%GHC FY2022: +23.2%GHC FY2023: +12.5%GHC FY2024: +8.5%GHC FY2025: +2.5%GOTU FY2020: +259.4%GOTU FY2021: -5.7%GOTU FY2022: -64.8%GOTU FY2023: +15.1%GOTU FY2024: +49.6%GOTU FY2025: +40.9%FY19FY20FY21FY22FY23FY24FY25
GHC +2.5%GOTU +40.9%
Free cash flow
GHC FY2018: $188.8MGHC FY2019: $71.7MGHC FY2020: $141.1MGHC FY2021: $39.9MGHC FY2022: $152.9MGHC FY2023: $166.4MGHC FY2024: $324.1MGHC FY2025: $275.3MGOTU FY2019: $175.8MGOTU FY2020: $48.9MGOTU FY2021: -$699.6MGOTU FY2022: $5.2MGOTU FY2023: $44.1MGOTU FY2024: $10.9MGOTU FY2025: $35.3MFY18FY19FY20FY21FY22FY23FY24FY25
GHC $275.3MGOTU $35.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Graham and Gaotu Techedu

Which is bigger by revenue, Graham or Gaotu Techedu?

Graham is bigger by revenue: $4.9B in fiscal 2025, against $879M for Gaotu Techedu in fiscal 2025.

Which keeps more of its revenue as profit, Graham or Gaotu Techedu?

Graham had a net margin of 6.0% in fiscal 2025; Gaotu Techedu had -5.3% in fiscal 2025.

Which grew revenue faster, Graham or Gaotu Techedu?

In their latest fiscal years revenue changed by +2.5% at Graham and +40.9% at Gaotu Techedu.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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