New Oriental Education & Technology Group Inc. Sponsored ADR (EDU) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q0 27	$0.46	$0.55	+19.6%	—	—	—
Q3 26	$0.84	$0.95	+13.1%	—	$1.4B	—
Q2 26	$0.34	$0.45	+32.4%	—	$1.2B	—
Q1 26	$1.65	$1.61	-2.4%	—	$1.5B	—
Q4 25	$0.42	$0.61	+45.2%	—	$1.2B	—
Q3 25	$0.74	$0.7	-5.4%	—	$1.2B	—
Q2 25	$0.3	$0.22	-26.7%	—	$1B	—
Q1 25	$1.54	$1.6	+3.9%	—	$1.4B	—
Q4 24	$0.45	$0.22	-51.1%	—	$1.1B	—
Q3 24	$0.76	$0.63	-17.1%	—	$1.2B	—
Q2 24	$0.28	$0.29	+3.6%	—	$869.6M	—
Q1 24	$0.8	$1.13	+41.2%	—	$1.1B	—
Q4 23	$0.5	$0.37	-26.0%	—	$860.6M	—
Q3 23	$0.26	$0.56	+115.4%	—	$754.2M	—
Q2 23	$0.09	$0.1	+11.1%	—	$638.2M	—
Q1 23	$0.33	$0.48	+45.5%	—	$744.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	—	—	—	$4.9B	—
FY24	—	$1.9	—	—	$4.3B	—
FY23	—	$1.1	—	—	$3B	—
FY22	—	-$7	—	—	$3.1B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.5B	$1.8B	$2.4B	$3.1B	$3.6B	$4.3B	$3.1B	$3B	$4.3B	$4.9B
YoY change	+18.6%	+21.7%	+36%	+26.5%	+15.6%	+19.5%	-27.4%	-3.46%	+43.9%	+13.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.5B	1.8B	2.4B	3.1B	3.6B	4.3B	3.1B	3B	4.3B	4.9B
Cost of revenue	614.4M	749.6M	1.1B	1.4B	1.6B	2B	1.8B	1.4B	2.1B	2.2B
Gross profit	864M	1B	1.4B	1.7B	2B	2.2B	1.4B	1.6B	2.3B	2.7B
Gross margin	58.4%	58.3%	56.5%	55.6%	55.6%	52.4%	43.5%	53%	52.5%	55.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	668.9M	787.8M	1.1B	1.4B	1.6B	2.1B	2.3B	1.4B	1.9B	2.2B
Operating expenses	668.9M	787.8M	1.1B	1.4B	1.6B	2.1B	2.3B	1.4B	1.9B	2.2B
Operating income	195.1M	262.1M	263M	307.2M	399M	149.1M	-982.5M	190M	350.4M	488.5M
Operating margin	13.2%	14.6%	10.7%	9.92%	11.1%	3.49%	-31.6%	6.34%	8.12%	9.97%
Non-operating income, net	5.3M	7.1M	9.2M	-87.2M	-22.7M	31.2M	-169.5M	4.7M	-9.9M	-71.5M
Pretax income	267.3M	330.7M	357M	315.8M	487.8M	315M	-1B	308.5M	493.8M	536.4M
Income tax	37.5M	50.6M	59.4M	85.7M	134.4M	83.6M	136.3M	66.1M	109.7M	146.3M
Net income	225.3M	276.8M	297.2M	227.8M	354.9M	230M	-1.2B	235.4M	325.2M	375.8M
Net margin	15.2%	15.4%	12.1%	7.36%	9.92%	5.38%	-39.3%	7.85%	7.54%	7.67%
EBITDA	239.8M	381.4M	429.7M	517.3M	693.3M	624.5M	-632.1M	440.1M	611.8M	757.8M
EPS	1.43	1.74	1.87	1.5	2.61	2	-7	1.1	1.9	—
Diluted EPS	1.43	1.74	1.87	1.5	2.59	2	-7	1	1.8	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	860.6M	1.1B	869.6M	1.2B	1.1B	1.4B	1B	1.2B	1.2B	1.5B	1.2B	1.4B
Cost of revenue	391.6M	441.2M	422.6M	644.8M	542.4M	583.5M	498.3M	531.6M	569.9M	637.8M	556.9M	656.2M
Gross profit	469M	658.8M	447M	562.5M	594.3M	851.9M	540.3M	651.5M	673.3M	885.2M	634.6M	761.2M
Gross margin	54.5%	59.9%	51.4%	46.6%	52.3%	59.3%	52%	55.1%	54.2%	58.1%	53.3%	53.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	420.9M	453.7M	425.7M	449.1M	583.8M	558.7M	521.1M	527M	621.7M	574.4M	568.2M	580.8M
Operating expenses	420.9M	453.7M	425.7M	449.1M	583.8M	558.7M	521.1M	527M	621.7M	574.4M	568.2M	580.8M
Operating income	48.1M	205.1M	21.3M	113.4M	10.5M	293.1M	19.3M	124.5M	51.6M	310.8M	66.3M	180.3M
Operating margin	5.58%	18.6%	2.45%	9.4%	0.93%	20.4%	1.85%	10.5%	4.15%	20.4%	5.57%	12.7%
Non-operating income, net	-90M	42M	36.8M	18.4M	-107.1M	27.2M	33.5M	28.9M	-161M	28.4M	20.9M	19.7M
Pretax income	71.8M	247.1M	58.2M	131.8M	56.8M	320.3M	52.8M	153.4M	9.9M	339.2M	87.2M	200M
Income tax	19.4M	62.5M	8.9M	32.7M	5.5M	77.6M	14.6M	52.6M	1.5M	91.5M	24.5M	54.7M
Net income	39.9M	176.1M	34.7M	85.8M	28.6M	243M	31.8M	89.7M	11.3M	247.5M	56.3M	139.9M
Net margin	4.64%	16%	3.99%	7.11%	2.52%	16.9%	3.07%	7.58%	0.91%	16.3%	4.72%	9.87%
EBITDA	182.1M	197.9M	21.5M	111.9M	173.7M	305.1M	16.8M	124.7M	165.3M	303M	67.6M	179.1M
EPS	0.2	1	0.2	0.5	0.2	1.5	0.2	0.5	0.4	1.5	0.3	0.8
Diluted EPS	0.2	1	0.2	0.5	0.2	1.5	0.2	0.5	0.4	1.5	0.3	0.8

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	6.6B	11.3B	15.7B	13.6B	19B	16.8B	2.2B	6.3B	13.2B	—	9.5B
Enterprise value	4.9B	9.1B	13B	10.5B	17.1B	12.7B	-1.3B	2.8B	9.1B	—	4.9B
Shares outstanding	156.8M	157.6M	158.2M	158.3M	158.4M	164.5M	169.6M	167.8M	165.4M	—	—

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	29.4	40.8	52.9	59.5	53.6	73.2	—	26.9	40.6	—	18.9
P/S	4.48	6.27	6.43	4.38	5.31	3.94	0.71	2.11	3.06	—	1.93
P/B	4.62	6.56	7.83	5.37	6.62	3.35	0.58	1.66	3.26	—	2.22
EV/EBITDA	20.4	23.9	30.3	20.2	24.6	20.4	2.05	6.33	14.9	—	6.15
EV/Sales	3.31	5.07	5.32	3.38	4.77	2.98	-0.42	0.93	2.11	—	0.86
Earnings yield	3.4%	2.45%	1.89%	1.68%	1.87%	1.37%	—	3.72%	2.46%	—	5.3%
FCF yield	6.94%	4.58%	3.57%	3.9%	2.6%	4.12%	-64.6%	13.1%	6.35%	—	10.1%
PEG	—	—	—	—	—	—	—	—	—	—	0.02

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	58.4%	58.3%	56.5%	55.6%	55.6%	52.4%	43.5%	53%	52.5%	55.4%	55%
Operating margin	13.2%	14.6%	10.7%	9.92%	11.1%	3.49%	-31.6%	6.34%	8.12%	9.97%	5.61%
Net margin	15.2%	15.4%	12.1%	7.36%	9.92%	5.38%	-39.3%	7.85%	7.54%	7.67%	8.39%
ROE	15.7%	16.1%	14.8%	9.02%	12.4%	4.58%	-32.2%	6.17%	8.03%	9.51%	12.5%
ROA	9.57%	9.46%	7.47%	4.9%	5.41%	2.27%	-20.2%	3.68%	4.32%	4.81%	4.84%
ROIC	-56%	-49.8%	-31%	-39.3%	31%	11.9%	-347.2%	54%	-427.5%	197.9%	105.1%
Return on tangible assets	9.71%	9.61%	7.64%	5.12%	5.58%	2.31%	-20.8%	3.84%	4.47%	4.96%	5.67%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.04	1.93	1.68	1.73	1.52	1.89	2.62	1.96	1.8	1.58	1.5
Quick ratio	2.01	1.91	1.66	1.71	1.5	1.88	2.6	1.94	1.76	1.55	1.63
Debt / equity	—	—	0	0.04	0.55	0.43	0.18	0.12	0.16	0.2	0.2
Debt / assets	—	—	0	0.02	0.24	0.21	0.11	0.07	0.09	0.1	0.1
Net debt / EBITDA	—	—	-6.32	-5.98	-2.8	-6.56	5.55	-8.04	-6.72	-4.98	-5.59
Interest coverage	—	—	—	196.6	106.4	47.7	-253.9	437.4	1.7K	1.7K	1.7K
Effective tax rate	14%	15.3%	16.6%	27.1%	27.5%	26.5%	0%	21.4%	22.2%	27.3%	27.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.43	11.4	15.5	19.6	22.6	26	18.3	17.9	26.1	—	35.9
EPS (basic)	1.43	1.74	1.87	1.5	2.61	2	-7	1.1	1.9	—	—
EPS (diluted)	1.43	1.74	1.87	1.5	2.59	2	-7	1	1.8	—	3
Book value per share	9.15	10.9	12.7	16	18.1	30.5	22.4	22.7	24.5	—	25.5
FCF per share	2.93	3.28	3.55	3.34	3.12	4.22	-8.44	4.93	5.08	—	4.05
Cash per share	11.1	13.7	17.2	20.2	22.2	38	24.7	23.8	28.9	—	32.8
Capex per share	0.4	0.65	1.29	1.59	1.8	2.33	0.86	0.84	1.51	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.27%	5.72%	8.35%	8.14%	7.97%	8.97%	4.68%	4.73%	5.77%	4.93%	4.93%
Capex / operating cash flow	13.5%	17.6%	26.7%	34.4%	41.7%	43.6%	-8.49%	16.8%	25.1%	35.1%	35.1%
Payout ratio	27.8%	0%	23.9%	0%	0%	—	—	—	—	26.1%	40%
Dividend yield	0.95%	0%	0.45%	0%	0%	—	—	—	—	—	2.13%

Yield

2.13%

trailing twelve months

Frequency

Annual

Last dividend

$0.60

ex-dividend May 15, 2026

Payout ratio

40%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
May 15, 2026	$0.60
Sep 9, 2024	$0.60
Sep 1, 2017	$4.30
Sep 2, 2015	$4.00
Sep 4, 2013	$3.50
Aug 29, 2012	$3.00

Split history

Date	Ratio
Apr 8, 2022	1:10
Apr 7, 2022	1:10
Mar 12, 2021	10:1
Aug 19, 2011	4:1

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$860.6M	$1.1B	$869.6M	$1.2B	$1.1B	$1.4B	$1B	$1.2B	$1.2B	$1.5B	$1.2B	$1.4B
YoY change	+64.2%	+47.7%	+36.3%	+60.1%	+32.1%	+30.5%	+19.4%	-2.01%	+9.37%	+6.1%	+14.7%	+19.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1.7B	2.2B	2.7B	3.2B	3.5B	6.3B	4.2B	4B	4.8B	4.6B
Receivables	3.7M	3.3M	3.2M	3.3M	4.2M	8.7M	16.4M	33.1M	29.7M	33.6M
Inventory	27.3M	31.7M	40.2M	29M	31.3M	31.2M	27.9M	52.7M	92.8M	80.9M
Total current assets	1.9B	2.3B	2.9B	3.5B	3.8B	6.6B	4.5B	4.4B	5.4B	5.2B
Property, plant & equipment	96.4M	146.3M	298.5M	398.1M	1.9B	2.5B	767.6M	643.3M	890.9M	1.2B
Goodwill & intangibles	34.1M	43.5M	88.1M	199.9M	193.3M	184.2M	154.5M	268M	254.2M	223.5M
Total assets	2.4B	2.9B	4B	4.6B	6.6B	10.2B	6B	6.4B	7.5B	7.8B
Accounts payable	21.4M	24.3M	39.9M	34.1M	33.1M	38.4M	22.3M	69.8M	105.7M	80.5M
Short-term debt	—	—	—	—	384.2M	514M	168.6M	155.8M	199.9M	256M
Total current liabilities	918.2M	1.2B	1.8B	2B	2.5B	3.5B	1.7B	2.3B	3B	3.3B
Long-term debt	—	—	0	96.5M	1.2B	1.6B	511.8M	302.8M	462.4M	547.8M
Total liabilities	920.2M	1.2B	2B	2.1B	3.7B	5.1B	2.2B	2.6B	3.5B	3.9B
Shareholders' equity	1.4B	1.7B	2B	2.5B	2.9B	5B	3.8B	3.8B	4B	4B
Total debt	—	—	0	96.5M	1.6B	2.2B	680.4M	458.6M	662.3M	803.8M
Net debt	—	—	-983.3M	-1.3B	665M	550.1M	-468.2M	-1.2B	-727M	-808.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	4B	4.1B	4.4B	4.6B	4.8B	4.8B	4.7B	4.3B	4.6B	4.7B	4.9B	4.8B
Receivables	33.1M	35.3M	33.5M	30.6M	29.7M	34.5M	35.6M	34M	33.6M	35.8M	37.7M	35.7M
Inventory	52.7M	63.3M	86.6M	96.5M	92.8M	95.4M	92.7M	85.7M	80.9M	86.3M	92.1M	86M
Total current assets	4.4B	4.6B	5B	5.1B	5.4B	5.5B	5.4B	4.9B	5.2B	5.3B	5.6B	5.4B
Property, plant & equipment	643.3M	828.7M	904.4M	1B	890.9M	1.4B	1.4B	1.5B	1.2B	1.6B	1.6B	1.6B
Goodwill & intangibles	268M	260M	260.7M	255.8M	254.2M	255.7M	248.3M	244.2M	223.5M	222.2M	220.5M	223.7M
Total assets	6.4B	6.7B	7.1B	7.2B	7.5B	7.7B	7.6B	7.4B	7.8B	8B	8.3B	8.2B
Accounts payable	69.8M	76.6M	108.9M	138.5M	105.7M	102M	92.1M	85.6M	80.5M	85.2M	94.5M	108.5M
Short-term debt	155.8M	163.9M	166.3M	178.3M	199.9M	222.4M	218.6M	239.6M	256M	260.2M	262.1M	273.3M
Total current liabilities	2.3B	2.4B	2.7B	2.6B	3B	3B	3.1B	2.9B	3.3B	3.2B	3.6B	3.3B
Long-term debt	302.8M	305.7M	344.4M	385.7M	462.4M	488M	504.2M	499.1M	547.8M	523.8M	517.8M	533.7M
Total liabilities	2.6B	2.7B	3B	3B	3.5B	3.5B	3.7B	3.5B	3.9B	3.8B	4.1B	3.8B
Shareholders' equity	3.8B	4B	4.1B	4.2B	4B	4.2B	4B	4B	4B	4.3B	4.2B	4.4B
Total debt	458.6M	469.6M	510.7M	564M	662.3M	710.5M	722.8M	738.6M	803.8M	784M	779.9M	807M
Net debt	-1.2B	-1.3B	-1.4B	-1.4B	-727M	-436.5M	-695.4M	-680.1M	-808.6M	-498.3M	-1.1B	-976.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	225.3M	276.8M	297.2M	227.8M	354.9M	230M	-1.2B	235.4M	325.2M	375.8M
Depreciation & amortization	48.5M	55.4M	79M	114M	151M	230.4M	194.4M	122.7M	106.8M	145.9M
Stock-based compensation	16.8M	20.3M	57.4M	71.3M	62.1M	68.9M	133M	89.8M	122.5M	59.9M
Change in working capital	179.1M	234.5M	346.8M	336.6M	124.6M	395.2M	-909.2M	425.4M	457.7M	136.9M
Operating cash flow	467.8M	586.4M	765.7M	732.6M	684M	880.4M	-1.7B	842M	991M	689.2M
Capital expenditure	-63.1M	-102.9M	-204.4M	-251.9M	-285.1M	-383.8M	-145.4M	-141.7M	-249M	-241.7M
Investing cash flow	-309.7M	-672.4M	-401.4M	-567M	-1.3B	-2.2B	1.2B	-39.5M	-1.1B	-76.2M
Dividends paid	-62.7M	0	-71.2M	0	0	—	—	—	—	-98.2M
Share repurchases	—	0	0	-56M	0	0	0	-191.6M	-62.9M	-445.5M
Financing cash flow	-3.1M	4.3M	-74.9M	266.6M	-21.5M	1.8B	-231M	-259.7M	-164.4M	-597.9M
Net change in cash	155M	-81.7M	289.5M	432.2M	-593.9M	539.2M	-779.5M	542.7M	-293.3M	15.2M
Free cash flow	459.9M	517M	561.5M	528.8M	494.9M	693.7M	-1.4B	828M	839.3M	637.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	—	—	—	—	—	—	—	—	—	192.3M	323.5M	-7.5M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	—	—	—	—	—	—	—	—	—	—	—	—
Net change in cash	—	—	—	—	—	—	—	—	—	192.3M	323.5M	-7.5M
Free cash flow	637.5M	335.8M	300.6M	109.4M	93.4M	183.2M	313.3M	963K	139.9M	192.3M	323.5M	-7.5M

New Oriental Education & Technology Group Inc. Sponsored ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement