Sunlands Technology (STG) Research & Development (2017 - 2025)
Sunlands Technology (STG) posted quarterly Research & Development of -$36.5 million for Q4 2025, up 16.83% year-over-year from -$31.2 million in Q4 2024, and up 7.22% quarter-over-quarter from -$39.3 million in Q3 2025.
Sunlands Technology (STG) Research & Development (2017 - 2025) Analysis & Trends
Sunlands Technology's Research & Development history runs 9 years deep, the most recent figure standing at -$36.5 million for Q4 2025.
- In Q4 2025, Research & Development rose 16.83% year-over-year to -$36.5 million; the TTM figure through Dec 2025 stood at -$161.8 million (up 4.66% YoY), while the FY2025 annual figure was $4.2 million, down 97.47% from the prior year.
- Research & Development for Q4 2025 stood at -$36.5 million, up from -$39.3 million in the prior quarter.
- The five-year high for Research & Development was -$36.5 million in Q4 2025, with the low at -$92.6 million in Q1 2021.
- The 5-year median for Research & Development is -$42.2 million (2025), against an average of -$46.7 million.
- The sharpest annual moves came in 2021 and 2022: Research & Development slumped 43.15% in 2021, then surged 49.72% in 2022.
- Sunlands Technology's Research & Development stood at -$53.3 million in 2021, then increased by 25.82% to -$39.5 million in 2022, then retreated by 7.51% to -$42.5 million in 2023, then declined by 3.2% to -$43.8 million in 2024, then advanced by 16.83% to -$36.5 million in 2025.
- Business Quant data shows STG's Research & Development at -$36.5 million in Q4 2025, -$39.3 million in Q3 2025, and -$42.2 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | New Oriental Education & Technology | 84.71 Bn | 82.71 Bn | 812.22 Mn | 262.52 Mn |
| 2 | 51Talk Online Education | 7.32 Bn | 7.28 Bn | 22.97 Mn | -1.93 Mn |
| 3 | Laureate Education | 5.21 Bn | 5.05 Bn | 237.67 Mn | - |
| 4 | Graham Holdings | 4.98 Bn | 3.74 Bn | 777.03 Mn | - |
| 5 | Covista | 4.66 Bn | 4.66 Bn | 284.63 Mn | - |
| 6 | Grand Canyon Education | 3.78 Bn | 3.50 Bn | 204.08 Mn | - |
| 7 | Stride | 3.50 Bn | 2.55 Bn | 217.28 Mn | - |
| 8 | McGraw Hill | 2.38 Bn | 2.13 Bn | 388.89 Mn | - |
| 9 | TAL Education | 2.28 Bn | -401.26 Mn | 227.32 Mn | 125.95 Mn |
| 10 | Sunlands Technology | 22.36 Mn | -58.95 Mn | 58.35 Mn | -36.46 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -36.46 Mn |
| Sep 30, 2025 | -39.29 Mn |
| Jun 30, 2025 | -42.23 Mn |
| Dec 31, 2024 | -43.83 Mn |
| Sep 30, 2024 | -43.18 Mn |
| Jun 30, 2024 | -40.93 Mn |
| Mar 31, 2024 | -41.77 Mn |
| Dec 31, 2023 | -42.47 Mn |
| Sep 30, 2023 | -40.43 Mn |
| Jun 30, 2023 | -38.54 Mn |
| Mar 31, 2023 | -39.52 Mn |
| Dec 31, 2022 | -39.51 Mn |
| Sep 30, 2022 | -37.82 Mn |
| Jun 30, 2022 | -43.74 Mn |
| Mar 31, 2022 | -46.54 Mn |
| Dec 31, 2021 | -53.25 Mn |
| Sep 30, 2021 | -54.86 Mn |
| Jun 30, 2021 | -69.56 Mn |
| Mar 31, 2021 | -92.56 Mn |
| Dec 31, 2020 | -93.25 Mn |