What is Coursera's invested capital?

Coursera (COUR) reported invested capital of -$152M in Q4 2025.

How has Coursera's invested capital changed year-over-year?

Coursera's invested capital decreased by 18.8% year-over-year, from -$127.94M to -$152M.

What is the long-term trend for Coursera's invested capital?

Over 5 years (2020 to 2025), Coursera's invested capital has grown at a -11.2% compound annual growth rate (CAGR), from -$275.47M to -$152M.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Coursera COUR Invested capital

Discontinued — last reported Q4 '25

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-0.3%-0.1pp

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17.5%+14.2pp

Other financials

Income statement

See full

Revenue$195.7M+9.1%

Gross profit$108.6M+10.9%

Operating income-$25.3M-75.7%

Net income-$20.5M-163%

EPS (diluted)-$0.12-140%

Balance sheet

See full

Cash & equivalents$790.7M+5.6%

Total debt$5.7M+86.0%

Total equity$631.8M+3.5%

Total assets$1.0B+5.2%

Cash flow

See full

Operating cash flow$14.6M-56.4%

CapEx$200.0K-60.0%

Free cash flow$14.4M-56.4%

Valuation

See full

Market cap$1.55B-7.6%

P/S2×-0.4×

Profitability

See full

Gross margin54.8%+0.9pp

Operating margin-11.4%-1.7pp

Net margin-8.2%-0.9pp

FCF margin11.4%-3.1pp

Returns & leverage

See full

Return on equity-10.3%-0.5pp

Debt / equity0×0.0×

Current ratio2.5×-0.1×

Where this comes from

Calculated from Coursera’s reported figures.

$5.7Mtotal debt+$635.7Mtotal stockholders equity−$793.4Mcash and equivalents=-$152M

The official record: Coursera’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Coursera's invested capital?: Coursera (COUR) reported invested capital of -$152M in Q4 2025.
How has Coursera's invested capital changed year-over-year?: Coursera's invested capital decreased by 18.8% year-over-year, from -$127.94M to -$152M.
What is the long-term trend for Coursera's invested capital?: Over 5 years (2020 to 2025), Coursera's invested capital has grown at a -11.2% compound annual growth rate (CAGR), from -$275.47M to -$152M.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).