Udemy (UDMY) FCF Margin (2020 - 2026)
Udemy's (UDMY) quarterly FCF Margin came in at 7.78% in Q1 2026, up 287.0% year-on-year from 2.01% in Q1 2025, and up 0.66% quarter-over-quarter from 7.73% in Q4 2025.
Udemy (UDMY) FCF Margin (2020 - 2026) Analysis & Trends
Udemy has disclosed FCF Margin across 7 years of filings, most recently posting 7.78% for Q1 2026.
- FCF Margin for Q1 2026 came in at 7.78%, up 287.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 11.13% (up 570.0% YoY), and the FY2025 annual result was 10.36%, up 391.0% from the prior year.
- FCF Margin came in at 7.78% for Q1 2026 at Udemy, up from 7.73% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 20.97% in Q2 2025 to a low of 18.66% in Q4 2022.
- The 5-year median for FCF Margin is 4.2% (2024), against an average of 1.64%.
- Across the five-year window, FCF Margin tumbled 1808 bps in 2022 and surged 2033 bps in 2024, its largest moves.
- Udemy's FCF Margin stood at 18.66% in 2022, then surged by 46 bps to 10.16% in 2023, then surged by 141 bps to 4.2% in 2024, then soared by 84 bps to 7.73% in 2025, then climbed by 1 bps to 7.78% in 2026.
- The last three FCF Margin figures came in at 7.78% (Q1 2026), 7.73% (Q4 2025), and 7.72% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | 51Talk Online Education | 7.03 Bn | 6.99 Bn | 22.18 Mn | - |
| 2 | Laureate Education | 5.22 Bn | 5.06 Bn | -16.39 Mn | 19.66% |
| 3 | Graham Holdings | 5.09 Bn | 4.08 Bn | 841.00 Mn | 3.93% |
| 4 | Covista | 4.40 Bn | 4.40 Bn | 276.31 Mn | 41.97% |
| 5 | Stride | 4.17 Bn | 3.36 Bn | 231.57 Mn | 29.13% |
| 6 | Grand Canyon Education | 3.94 Bn | 3.69 Bn | 244.77 Mn | 28.01% |
| 7 | McGraw Hill | 2.19 Bn | 1.94 Bn | 388.89 Mn | -36.65% |
| 8 | Universal Technical Institute | 2.14 Bn | 1.97 Bn | 103.97 Mn | -11.94% |
| 9 | Perdoceo Education | 2.13 Bn | 1.45 Bn | 174.68 Mn | 30.51% |
| 10 | Udemy | 672.44 Mn | 419.78 Mn | 129.27 Mn | 7.78% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 7.78% |
| Dec 31, 2025 | 7.73% |
| Sep 30, 2025 | 7.72% |
| Jun 30, 2025 | 20.97% |
| Mar 31, 2025 | 4.91% |
| Dec 31, 2024 | 4.20% |
| Sep 30, 2024 | -0.26% |
| Jun 30, 2024 | 12.94% |
| Mar 31, 2024 | 9.00% |
| Dec 31, 2023 | -10.16% |
| Sep 30, 2023 | 9.54% |
| Jun 30, 2023 | 4.04% |
| Mar 31, 2023 | -11.33% |
| Dec 31, 2022 | -18.66% |
| Sep 30, 2022 | -5.42% |
| Jun 30, 2022 | -5.84% |
| Mar 31, 2022 | -9.28% |
| Dec 31, 2021 | -0.58% |
| Sep 30, 2021 | -5.42% |
| Jun 30, 2021 | 2.00% |