Tearsheet

Chegg (CHGG)


Market Price (10/21/2025): $1.34 | Market Cap: $143.3 Mil
Sector: Consumer Discretionary | Industry: Education Services

Chegg (CHGG)


Market Price (10/21/2025): $1.34
Market Cap: $143.3 Mil
Sector: Consumer Discretionary
Industry: Education Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%
Weak multi-year price returns
2Y Excs Rtn is -138%, 3Y Excs Rtn is -177%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -117 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -23%
1 Attractive yield
FCF Yield is 22%
  Stock price has recently run up significantly
6M Rtn6 month market price return is 148%
2   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -26%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13%, Rev Chg QQuarterly Revenue Change % is -36%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -193%
4   High stock price volatility
Vol 12M is 109%
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%
1 Attractive yield
FCF Yield is 22%
2 Weak multi-year price returns
2Y Excs Rtn is -138%, 3Y Excs Rtn is -177%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -117 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -23%
4 Stock price has recently run up significantly
6M Rtn6 month market price return is 148%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -26%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13%, Rev Chg QQuarterly Revenue Change % is -36%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -193%
7 High stock price volatility
Vol 12M is 109%

Market Valuation & Key Metrics

CHGG Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
CHGG Return138%-66%-18%-55%-86%-16%-97%
Peers Return-3%34%6%40%12%3%123%
S&P 500 Return16%27%-19%24%23%15%106%

Monthly Win Rates [3]
CHGG Win Rate67%50%50%50%17%67% 
Peers Win Rate35%43%47%52%55%51% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
CHGG Max Drawdown-27%-72%-46%-70%-87%-71% 
Peers Max Drawdown-31%-18%-28%-13%-27%-21% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: LRN, COCO, MATW, GDEN, EDTK. See CHGG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/20/2025 (YTD)

Downturns Compared

Unique KeyEventCHGGS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-93.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven1413.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-37.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven61.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven48 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-37.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven60.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven216 days120 days


How Low Can It Go?

Chegg's stock fell -93.4% during the 2022 Inflation Shock from a high on 2/12/2021. A -93.4% loss requires a 1413.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Better Bets than Chegg (CHGG)

Trade Ideas

Select past ideas related to CHGG. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-20.0%-20.0%-20.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.5%-1.5%-6.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-6.8%-6.8%-7.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.5%0.5%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
-8.1%-8.1%-11.7%
CHGG_1312023_Dip_Buyer_High_CFO_Margins_ExInd_DE01312023CHGGCheggDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-50.2%-52.6%-63.9%
CHGG_5312022_Dip_Buyer_High_CFO_Margins_ExInd_DE05312022CHGGCheggDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.5%-53.9%-53.9%
CHGG_11302021_Dip_Buyer_High_CFO_Margins_ExInd_DE11302021CHGGCheggDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-30.1%7.1%-40.9%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-20.0%-20.0%-20.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.5%-1.5%-6.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-6.8%-6.8%-7.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.5%0.5%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
-8.1%-8.1%-11.7%
CHGG_1312023_Dip_Buyer_High_CFO_Margins_ExInd_DE01312023CHGGCheggDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-50.2%-52.6%-63.9%
CHGG_5312022_Dip_Buyer_High_CFO_Margins_ExInd_DE05312022CHGGCheggDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.5%-53.9%-53.9%
CHGG_11302021_Dip_Buyer_High_CFO_Margins_ExInd_DE11302021CHGGCheggDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-30.1%7.1%-40.9%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Chegg

Financials

CHGGLRNCOCOMATWGDENEDTKMedian
NameChegg Stride Vita CocoMatthews.Golden E.Skillful. 
Mkt Price1.35145.5941.6123.1623.131.0423.14
Mkt Cap0.16.32.40.70.6-0.7
Rev LTM5072,4055601,626650-650
Op Inc LTM-11742069-344-44
FCF LTM3237326-3650-32
FCF 3Y Avg9424260842-60
CFO LTM7743328291-77
CFO 3Y Avg1683056256106-106

Growth & Margins

CHGGLRNCOCOMATWGDENEDTKMedian
NameChegg Stride Vita CocoMatthews.Golden E.Skillful. 
Rev Chg LTM-25.9%17.9%12.0%-11.1%-21.7%--11.1%
Rev Chg 3Y Avg-12.7%12.6%10.6%-2.1%-16.1%--2.1%
Rev Chg Q-35.6%22.4%17.1%-18.3%-2.2%--2.2%
QoQ Delta Rev Chg LTM-10.3%5.2%4.6%-4.6%-0.6%--0.6%
Op Mgn LTM-23.2%17.4%12.4%-0.2%6.8%-6.8%
Op Mgn 3Y Avg-11.2%12.9%11.6%2.4%9.0%-9.0%
QoQ Delta Op Mgn LTM-8.2%1.0%-1.5%0.7%-0.3%--0.3%
CFO/Rev LTM15.3%18.0%5.0%0.1%14.0%-14.0%
CFO/Rev 3Y Avg24.9%14.2%12.3%3.0%12.1%-12.3%
FCF/Rev LTM6.4%15.5%4.7%-2.2%7.6%-6.4%
FCF/Rev 3Y Avg13.7%11.2%12.1%0.3%4.8%-11.2%

Valuation

CHGGLRNCOCOMATWGDENEDTKMedian
NameChegg Stride Vita CocoMatthews.Golden E.Skillful. 
Mkt Cap0.16.32.40.70.6-0.7
P/S0.32.64.20.40.9-0.9
P/EBIT-0.516.033.020.614.7-16.0
P/E-0.521.836.7-11.039.8-21.8
P/CFO1.914.583.6348.46.7-14.5
Total Yield-188.4%4.6%2.7%-4.6%7.0%-2.7%
Dividend Yield0.0%0.0%0.0%4.5%4.5%-0.0%
FCF Yield 3Y Avg22.2%7.3%3.7%-0.1%4.2%-4.2%
D/E0.60.10.01.00.8-0.6
Net D/E-0.0-0.1-0.11.00.8--0.0

Returns

CHGGLRNCOCOMATWGDENEDTKMedian
NameChegg Stride Vita CocoMatthews.Golden E.Skillful. 
1M Rtn-18.2%2.7%4.7%-7.5%-5.9%-1.0%-3.4%
3M Rtn-1.5%9.9%6.6%-5.0%-19.3%9.7%2.6%
6M Rtn148.4%9.5%35.0%22.3%-7.3%6.4%15.9%
12M Rtn-16.1%125.7%44.3%6.1%-22.3%7.2%6.7%
3Y Rtn-93.7%212.7%288.9%-0.3%-37.5%2.0%0.8%
1M Excs Rtn-19.2%1.7%3.7%-8.6%-6.9%-2.0%-4.5%
3M Excs Rtn-27.3%5.5%-0.3%-13.2%-25.1%-3.8%-8.5%
6M Excs Rtn117.9%-21.1%4.4%-8.3%-37.8%-24.2%-14.7%
12M Excs Rtn-28.7%112.1%26.1%-7.1%-37.6%-8.1%-7.6%
3Y Excs Rtn-177.3%138.5%178.6%-74.7%-119.9%-76.3%-75.5%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Subscription Services641672617  
Skills and Other7695159  
Chegg Services   521332
Required Materials   12379
Total716767776644411


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity5,325,852
Short Interest: % Change Since 9152025-15.3%
Average Daily Volume5,077,979
Days-to-Cover Short Interest1.05
Basic Shares Quantity106,908,000
Short % of Basic Shares5.0%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/2025-14.0%-14.0%29.5%
5/12/20257.5%29.9%126.1%
2/24/2025-31.4%-33.3%-60.2%
11/12/2024-10.7%-5.1%26.6%
8/5/2024-22.2%-30.0%-29.0%
4/29/2024-27.9%-28.0%-48.8%
2/5/2024-6.1%-5.1%-14.5%
10/30/2023-15.1%-9.6%15.0%
...
SUMMARY STATS   
# Positive10910
# Negative141514
Median Positive8.3%11.6%28.0%
Median Negative-16.1%-15.9%-21.0%
Max Positive32.3%39.7%126.1%
Max Negative-48.8%-51.0%-60.2%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025808202510-Q 6/30/2025
3312025512202510-Q 3/31/2025
12312024224202510-K 12/31/2024
93020241112202410-Q 9/30/2024
6302024805202410-Q 6/30/2024
3312024429202410-Q 3/31/2024
12312023220202410-K 12/31/2023
93020231030202310-Q 9/30/2023
6302023807202310-Q 6/30/2023
3312023501202310-Q 3/31/2023
12312022221202310-K 12/31/2022
93020221101202210-Q 9/30/2022
6302022804202210-Q 6/30/2022
3312022502202210-Q 3/31/2022
12312021222202210-K 12/31/2021
93020211101202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0BUDIG RENEE VARNI 6102025Sell1.4127,97339,554121,239Form