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Coursera

COUR NYSE Education Services Financials FY2019–FY2025

Coursera's revenue rose 9.0% to $758 million in fiscal 2025. Its operating margin was −10.2%, up from −16.3% a year earlier. Free cash flow was $107 million, up 14.3%. The diluted share count rose 4.1%.

Last close · Oct 23, 2026

$5.08

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$758M
9.0% vs prior year
Operating margin Operating income as a share of revenue.
−10.2%
6.1 pts
Net income Profit after all expenses, interest and tax.
−$51.0M
Free cash flow Cash from operations minus capital spending.
$107M
14.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
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Market cap Last close times the latest diluted share count, so it is approximate.
$1.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. Coursera has no borrowings, so debt is counted as zero.

What Coursera does

No business description yet.

Legal name
COURSERA, INC.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001651562-26-000015
0001651562

Revenue and margins

Coursera had $758M of revenue in fiscal 2025, up 9.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $107M in fiscal 2025, 14.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Coursera returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 4.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Coursera yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of $793M and divides by 163.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Coursera can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $822M$781M$722M$726M$793M
Debt incl. finance leases $0.0M$0.0M$0.0M$0.0M$0.0M
Debt / equity 0.0x0.0x0.0x0.0x0.0x
Current ratio 4.4x3.6x2.8x2.5x2.5x
Quick ratio 4.4x3.6x2.8x2.5x2.5x
Total assets $959M$948M$921M$930M$1.0B
Total liabilities $217M$253M$304M$333M$364M
Shareholders' equity $742M$695M$616M$597M$636M
Net debt (− = net cash) −$822M−$781M−$722M−$726M−$793M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$11.4M

1 insider

Sold, 12 months

$10.8M

2 insiders

Of sales under plans

2%

$0.2M

DateInsiderTradeSharesPriceValueFiling
Sep 29, 2026 Pale Fire Capital investicni spolecnost a.s.10% owner Bought 1,000,000 $4.61 $4.6M Form 4
Sep 25, 2026 Pale Fire Capital investicni spolecnost a.s.10% owner Bought 1,332,742 $5.06 $6.7M Form 4
Aug 17, 2026 Alan B CardenasSVP, General Counsel Sold plan 9,139 $5.71 $0.1M Form 4
May 20, 2026 Insight Holdings Group LLC10% owner Sold 1,466,372 $5.24 $7.7M Form 4
May 19, 2026 Insight Holdings Group LLC10% owner Sold 455,000 $5.41 $2.5M Form 4
May 18, 2026 Alan B CardenasSVP, General Counsel Sold plan 9,139 $5.52 $0.1M Form 4
May 18, 2026 Insight Holdings Group LLC10% owner Sold 78,628 $5.69 $0.4M Form 4
Feb 17, 2026 Alan B CardenasSVP, General Counsel Sold plan 9,710 $5.92 $0.1M Form 4
Dec 15, 2025 Alan B CardenasSVP, General Counsel Sold plan 8,078 $8.17 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✕ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✕ ✕ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✓
F-score 4 / 95 / 95 / 9
Accruals ratio −15.7%−18.9%−16.6%
Altman Z'' 2.111.601.89

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Coursera COUR $1.2B 9.0% −10.2% 14.2% — — 5
Universal Technical Institute UTI $1.2B 14.1% 10.0% 6.6% 24.0% 35.8x 6 Compare →
Perdoceo Education PRDO $2.2B 24.2% 23.2% 25.6% — 12.3x — Compare →
Duolingo DUOL $7.2B 38.7% 13.1% 35.6% 77.6% 17.0x 4 Compare →
Grand Canyon Education LOPE $4.3B 7.1% 24.0% 21.6% 45.3% 19.8x 4 Compare →

7 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $184M $294M $415M $524M $636M $695M $758M
Gross profit $94.8M $155M $250M $332M $330M $371M $413M
Research and development $56.4M $76.8M $135M $165M $160M $132M $122M
Operating income −$48.4M −$66.6M −$143M −$177M −$146M −$113M −$77.4M
Interest expense $0.6M $0.0M $0.0M $0.0M — — —
Pretax income −$46.0M −$65.3M −$143M −$171M −$111M −$78.5M −$45.9M
Income tax $0.7M $1.5M $2.1M $4.7M $5.4M $1.0M $5.1M
Net income −$46.7M −$66.8M −$145M −$175M −$117M −$79.5M −$51.0M
Diluted EPS −$1.45 −$1.80 −$1.28 −$1.21 −$0.77 −$0.51 −$0.31
Diluted shares 0.03B 0.04B 0.11B 0.15B 0.15B 0.16B 0.16B
Cash flow
Cash from operations −$21.3M −$15.0M $1.7M −$38.1M $29.7M $95.4M $109M
Capital expenditure $4.4M $3.1M $1.6M $1.6M $1.1M $1.6M $1.5M
Free cash flow −$25.7M −$18.1M $0.2M −$39.6M $28.6M $93.8M $107M
Depreciation and amortization $5.3M $9.6M $14.8M $18.5M $22.3M $25.1M $28.8M
Stock-based compensation $16.3M $16.8M $91.2M $111M $110M $108M $95.1M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $58.5M $36.7M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $58.5M $36.7M $0.0M
Balance sheet
Cash and short-term investments $56.0M $285M $822M $781M $722M $726M $793M
Total debt $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets — $355M $892M $876M $833M $831M $898M
Current liabilities — $154M $201M $242M $298M $328M $358M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net — $18.6M $24.7M $27.1M $30.4M $36.9M $43.4M
Total assets — $418M $959M $948M $921M $930M $1.0B
Total liabilities — $177M $217M $253M $304M $333M $364M
Shareholders' equity −$187M −$222M $742M $695M $616M $597M $636M
Margins
Gross margin 51.4% 52.7% 60.1% 63.3% 51.9% 53.5% 54.6%
Operating margin −26.2% −22.7% −34.5% −33.9% −22.9% −16.3% −10.2%
EBITDA margin −23.4% −19.4% −30.9% −30.3% −19.4% −12.7% −6.4%
Net margin −25.3% −22.8% −35.0% −33.5% −18.3% −11.4% −6.7%
FCF margin −14.0% −6.2% 0.1% −7.6% 4.5% 13.5% 14.2%
Returns
Return on capital employed — — −28.0% −24.3% −21.9% −18.5% −12.4%
Return on equity — — −55.9% −24.4% −17.8% −13.1% −8.3%
Return on assets — — −21.1% −18.4% −12.5% −8.6% −5.3%
Growth
Revenue growth — 59.2% 41.5% 26.1% 21.4% 9.3% 9.0%
FCF growth — — — −20,740.1% — 228.0% 14.3%
Share count change — 15.3% 205.3% 27.9% 4.0% 4.2% 4.1%
Financial health
Debt / equity — — 0.0x 0.0x 0.0x 0.0x 0.0x
Interest coverage −77.4x −5,548.6x — — — — —
Current ratio — 2.3x 4.4x 3.6x 2.8x 2.5x 2.5x
Quick ratio — 2.3x 4.4x 3.6x 2.8x 2.5x 2.5x
Capital allocation
Capex / revenue 2.4% 1.1% 0.4% 0.3% 0.2% 0.2% 0.2%
Stock comp / revenue 8.9% 5.7% 22.0% 21.2% 17.2% 15.6% 12.6%
Payouts / FCF — — 0.0% — 204.6% 39.1% 0.0%
Quality scores
Piotroski F-score — — — 3.0 4.0 5.0 5.0
Altman Z'' — −1.9 5.7 3.7 2.1 1.6 1.9
Accruals ratio — — −21.4% −14.4% −15.7% −18.9% −16.6%

Source: SEC EDGAR XBRL filings (CIK 0001651562). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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