New Oriental Education & Technology Group Inc. EDU

Industrials SIC 8200 - Services-Educational Services NAICS Educational Services derived NYSE

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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.

Valuation FY2024 figures against the last close

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P/E—
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EV/EBITDA—
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016FY2015
Revenue $4.90B$4.31B$3.00B$3.11B$4.28B$3.58B$3.10B$2.45B$1.80B$1.48B
Cost of revenue $2.18B$2.05B$1.41B$1.75B$2.04B$1.59B$1.38B$1.07B$749.6M$614.4M
Gross profit $2.72B$2.26B$1.59B$1.35B$2.24B$1.99B$1.72B$1.38B$1.05B$864.0M
SG&A $1.44B$1.25B$953.6M$1.87B$1.49B$1.15B$1.03B$794.5M$554.9M$471.0M
Total operating expenses $4.47B$3.96B$2.81B$4.09B$4.16B$3.18B$2.79B$2.18B$1.54B$1.28B
Operating income $428.2M$350.4M$190.0M-$982.5M$117.3M$399.0M$305.5M$263.0M$262.1M$198.8M
Interest expense $311.0K$298.0K$707.0K$4.0M$6.7M$4.6M$1.6M———
Pre-tax income $536.4M$493.8M$308.5M-$1.03B$315.0M$487.8M$315.8M$357.0M$330.7M$267.3M
Income tax $146.3M$109.7M$66.1M$136.3M$83.6M$134.4M$85.7M$59.4M$50.6M$37.5M
Net income $371.7M$309.6M$177.3M-$1.19B$334.4M$413.3M$238.1M$296.1M$274.5M$224.9M
Shares, diluted (wtd. avg.) 1.63B1.67B1.69B1.70B1.65B1.60B1.59B158.6M158.0M157.4M

Balance sheet

Fiscal year FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016FY2015
Cash and equivalents $1.61B$1.39B$1.81B$1.19B$1.63B$919.4M$1.42B$986.8M$644.7M$713.1M
Receivables $33.6M$29.7M$33.1M$16.4M$8.7M$4.2M$3.3M$3.2M$3.3M$3.7M
Inventory $80.9M$92.8M$52.7M$27.9M$31.2M$31.3M$29.0M$40.2M$31.7M$27.3M
Total current assets $5.19B$5.39B$4.41B$4.47B$6.57B$3.76B$3.47B$2.94B$2.33B$1.87B
Property, plant and equipment $767.3M$508.0M$359.8M$402.7M$865.0M$672.5M$532.0M$449.6M$282.8M$237.7M
Goodwill $43.8M$104.0M$105.5M$70.8M$73.3M$80.4M$79.6M$31.7M$14.1M$10.5M
Other intangibles $13.0M$18.7M$25.2M$2.8M$4.8M$10.2M$13.9M$8.5M$4.0M$2.6M
Total assets $7.81B$7.53B$6.39B$6.03B$10.15B$6.56B$4.65B$3.98B$2.92B$2.35B
Accounts payable $80.5M$105.7M$69.8M$22.3M$38.4M$33.1M$34.1M$39.9M$24.3M$21.4M
Total current liabilities $3.29B$3.00B$2.25B$1.71B$3.47B$2.48B$2.01B$1.75B$1.20B$918.2M
Long-term debt ————$0$117.9M$96.5M———
Total liabilities $3.85B$3.48B$2.58B$2.24B$5.13B$3.69B$2.12B$1.76B$1.20B$920.2M
Retained earnings $1.77B$1.51B$1.23B$1.07B$2.25B$1.99B$1.65B$1.35B$1.17B$931.9M
Total equity $3.66B$3.78B$3.81B$3.79B$5.02B$2.87B$2.53B$2.01B$1.72B$1.43B

Cash flow

Fiscal year FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016FY2015
Operating cash flow $896.6M$1.12B$971.0M-$1.28B$1.13B$804.5M$805.6M$781.1M$622.7M$524.3M
Depreciation and amortisation $139.8M$100.6M$117.0M$192.3M$225.7M$146.3M$110.0M$77.1M$53.9M$47.3M
Stock-based compensation $59.9M$122.5M$89.8M$133.0M$68.9M$62.1M$71.3M$57.4M$20.3M$16.8M
Capital expenditure $241.9M$249.4M$143.0M$150.7M$429.2M$309.5M$269.1M$214.3M$105.7M$64.4M
Investing cash flow -$93.4M-$1.15B-$37.4M$1.17B-$2.18B-$1.26B-$574.7M-$407.1M-$672.4M-$309.7M
Financing cash flow -$585.0M-$160.4M-$246.9M-$230.9M$1.65B-$17.9M$266.6M-$74.9M$4.8M-$916.0K
Dividends paid $98.2M——————$71.2M—$71.2M
Buybacks $445.5M$62.9M$191.6M———————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-25-216394.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2015: 1.5B Gross profit, FY2015: 864M Net income, FY2015: 224.9M Revenue, FY2016: 1.8B Gross profit, FY2016: 1B Net income, FY2016: 274.5M Revenue, FY2017: 2.4B Gross profit, FY2017: 1.4B Net income, FY2017: 296.1M Revenue, FY2018: 3.1B Gross profit, FY2018: 1.7B Net income, FY2018: 238.1M Revenue, FY2019: 3.6B Gross profit, FY2019: 2B Net income, FY2019: 413.3M Revenue, FY2020: 4.3B Gross profit, FY2020: 2.2B Net income, FY2020: 334.4M Revenue, FY2021: 3.1B Gross profit, FY2021: 1.4B Net income, FY2021: -1.2B Revenue, FY2022: 3B Gross profit, FY2022: 1.6B Net income, FY2022: 177.3M Revenue, FY2023: 4.3B Gross profit, FY2023: 2.3B Net income, FY2023: 309.6M Revenue, FY2024: 4.9B Gross profit, FY2024: 2.7B Net income, FY2024: 371.7M FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Fiscal year FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Revenue $1.48B $1.80B $2.45B $3.10B $3.58B $4.28B $3.11B $3.00B $4.31B $4.90B
Gross profit $864.0M $1.05B $1.38B $1.72B $1.99B $2.24B $1.35B $1.59B $2.26B $2.72B
Net income $224.9M $274.5M $296.1M $238.1M $413.3M $334.4M -$1.19B $177.3M $309.6M $371.7M

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