A Business at a Glance
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New Oriental Education & Technology Group Inc.
NWOEF
$7.3B
Mkt Cap
$4.52
+0.00%
ITEM 4. INFORMATION ON THE COMPANY A. History and Development of the Company Our first school was established by Mr. Michael Minhong Yu, our executive chairman, in Beijing, China in 1993 to offer TOEFL test preparation courses to college students. We established New Oriental China in 2001 as a domestic holding company to act as the sponsor of our schools and hold some operating subsidiaries. In order to facilitate foreign investment in our company, we established our offshore holding company, New Oriental Education & Technology Group Inc., in the British Virgin Islands in August 2004. We redomiciled to the Cayman Islands in March 2006 and are now a Cayman Islands company. We have three wholly-owned subsidiaries in Hong Kong that directly own our wholly-owned subsidiaries in China. We completed an initial public offering and listed our ADSs on the NYSE under the symbol “EDU” in September 2006.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.9B | 4.9B | 4.3B | 3.0B | 3.1B | 4.3B |
| Net Income | 372M | 372M | 310M | 177M | -1.2B | 334M |
| EPS | $0.23 | $0.23 | $0.18 | $0.10 | $-0.70 | $0.20 |
| Free Cash Flow | 655M | 655M | 873M | 828M | -1.4B | 701M |
| ROIC | 10.8% | 8.4% | 61.3% | 10.4% | -27.6% | 7.8% |
| Gross Margin | 55.4% | 55.4% | 52.5% | 53.0% | 43.5% | 52.4% |
| Debt/Equity | 0.22 | 0.22 | 0.18 | 0.13 | 0.60 | 0.44 |
| Dividends/Share | $0.06 | $0.06 | - | - | - | - |
| Operating Income | 428M | 428M | 350M | 190M | -983M | 117M |
| Operating Margin | 8.7% | 8.7% | 8.1% | 6.3% | -31.6% | 2.7% |
| ROE | 10.2% | 10.0% | 8.4% | 4.9% | -27.6% | 8.7% |
| Shares Outstanding | 1,616M | 1,616M | 1,720M | 1,773M | 1,697M | 1,672M |
| Metric | TTM | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.1B | 1.2B | 1.5B | 1.8B | 2.4B | 3.1B | 3.6B | 4.3B | 3.1B | 3.0B | 4.3B | 4.9B | 4.9B |
| Gross Margin | 60.3% | 57.8% | 58.4% | 58.3% | 56.5% | 55.6% | 55.6% | 52.4% | 43.5% | 53.0% | 52.5% | 55.4% | 55.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 324M | 378M | 471M | 555M | 794M | 1.0B | 1.1B | 1.5B | 1.9B | 954M | 1.3B | 1.4B | 1.4B |
| EBIT | 198M | 154M | 199M | 262M | 263M | 306M | 399M | 117M | -983M | 190M | 350M | 428M | 428M |
| Op. Margin | 17.3% | 12.3% | 13.4% | 14.6% | 10.7% | 9.9% | 11.1% | 2.7% | -31.6% | 6.3% | 8.1% | 8.7% | 8.7% |
| Net Income | 216M | 193M | 225M | 274M | 296M | 238M | 413M | 334M | -1.2B | 177M | 310M | 372M | 372M |
| Net Margin | 18.9% | 15.5% | 15.2% | 15.3% | 12.1% | 7.7% | 11.5% | 7.8% | -38.2% | 5.9% | 7.2% | 7.6% | 7.6% |
| Non-Recurring | -2.0M | -2.9M | -2.1M | -65K | -2.0M | -5.4M | -4.9M | 23M | 0 | -2.2M | 0 | 58M | 58M |
| Returns on Capital | |||||||||||||
| ROIC | 32.2% | 20.1% | 125.6% | 73.2% | 21.4% | 21.7% | 39.2% | 7.8% | -27.6% | 10.4% | 61.3% | 8.4% | 10.8% |
| ROE | 22.9% | 17.2% | 17.1% | 17.8% | 16.1% | 10.9% | 16.2% | 8.7% | -27.6% | 4.9% | 8.4% | 10.0% | 10.2% |
| ROA | 14.6% | 10.9% | 10.4% | 10.4% | 8.6% | 5.5% | 7.4% | 4.0% | -14.7% | 2.9% | 4.4% | 4.8% | 4.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 361M | 374M | 524M | 623M | 781M | 806M | 804M | 1.1B | -1.3B | 971M | 1.1B | 897M | 897M |
| Free Cash Flow | 330M | 319M | 460M | 517M | 567M | 537M | 495M | 701M | -1.4B | 828M | 873M | 655M | 655M |
| Owner Earnings | 298M | 312M | 460M | 549M | 647M | 624M | 596M | 836M | -1.6B | 764M | 900M | 697M | 697M |
| CapEx | 32M | 55M | 64M | 106M | 214M | 269M | 310M | 429M | 151M | 143M | 249M | 242M | 242M |
| Maint. CapEx | 44M | 47M | 47M | 54M | 77M | 110M | 146M | 226M | 192M | 117M | 101M | 140M | 140M |
| Growth CapEx | 0 | 8.7M | 17M | 52M | 137M | 159M | 163M | 204M | 0 | 26M | 149M | 102M | 102M |
| D&A | 44M | 47M | 47M | 54M | 77M | 110M | 146M | 226M | 192M | 117M | 101M | 140M | 140M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 27.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 54M | 71M | 63M | 71M | 71M | 0 | 0 | 0 | 0 | 0 | 0 | 98M | 98M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.3% |
| Share Buybacks | 21M | 59M | 0 | 0 | 0 | 56M | 0 | 0 | 0 | 192M | 63M | 445M | 445M |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 6.1% |
| Stock-Based Comp | 20M | 16M | 17M | 20M | 57M | 71M | 62M | 69M | 133M | 90M | 122M | 60M | 60M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 120M | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | -1.3B | -2.3B | -3.7B | N/A | -3.3B | -3.4B | -3.6B | -809M |
| Cash & Equiv. | 372M | 531M | 709M | 641M | 983M | 1.4B | 915M | 1.6B | 1.1B | 1.7B | 1.4B | 1.6B | 1.6B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | 96M | 118M | 0 | N/A | N/A | N/A | N/A | 804M |
| Debt/Equity | 0.56 | 0.60 | 0.66 | 0.72 | 0.89 | 0.04 | 0.58 | 0.44 | 0.60 | 0.13 | 0.18 | 0.22 | 0.22 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | 189.2 | 86.2 | 17.4 | -242.6 | 268.8 | 1175.9 | 1377.0 | 1377.0 |
| Equity | 1.0B | 1.2B | 1.4B | 1.7B | 2.0B | 2.4B | 2.7B | 4.9B | 3.7B | 3.6B | 3.8B | 3.7B | 3.7B |
| Total Assets | 1.6B | 2.0B | 2.4B | 2.9B | 4.0B | 4.6B | 6.6B | 10.2B | 6.0B | 6.4B | 7.5B | 7.8B | 7.8B |
| Total Liabilities | 578M | 728M | 920M | 1.2B | 1.8B | 2.1B | 3.7B | 5.1B | 2.2B | 2.6B | 3.5B | 3.9B | 3.9B |
| Intangibles | 736K | 3.9M | 2.6M | 4.0M | 8.5M | 14M | 10M | 4.8M | 2.8M | 25M | 19M | 13M | 13M |
| Retained Earnings | 655M | 824M | 932M | 1.2B | 1.4B | 1.6B | 2.0B | 2.3B | 1.1B | 1.2B | 1.5B | 1.8B | 1.8B |
| Working Capital | 658M | 624M | 951M | 1.1B | 1.2B | 1.5B | 1.3B | 3.1B | 2.8B | 2.2B | 2.4B | 1.9B | 1.9B |
| Current Assets | 1.2B | 1.3B | 1.9B | 2.3B | 2.9B | 3.5B | 3.8B | 6.6B | 4.5B | 4.4B | 5.4B | 5.2B | 5.2B |
| Current Liabilities | 576M | 725M | 918M | 1.2B | 1.8B | 2.0B | 2.5B | 3.5B | 1.7B | 2.3B | 3.0B | 3.3B | 3.3B |
| Per Share Data | |||||||||||||
| EPS | 0.12 | 0.11 | 0.13 | 0.16 | 0.17 | 0.14 | 0.24 | 0.20 | -0.70 | 0.10 | 0.18 | 0.23 | 0.23 |
| Owner EPS | 0.17 | 0.18 | 0.27 | 0.32 | 0.37 | 0.36 | 0.34 | 0.50 | -0.95 | 0.43 | 0.52 | 0.43 | 0.43 |
| Book Value | 0.59 | 0.71 | 0.81 | 0.97 | 1.14 | 1.35 | 1.57 | 2.94 | 2.18 | 2.03 | 2.20 | 2.27 | 2.27 |
| Cash Flow/Share | 0.21 | 0.22 | 0.30 | 0.36 | 0.45 | 0.46 | 0.46 | 0.68 | -0.75 | 0.55 | 0.65 | 0.55 | 0.32 |
| Dividends/Share | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | N/A | N/A | N/A | N/A | N/A | N/A | 0.06 | 0.06 |
| Shares Out. | 1.7B | 1.7B | 1.7B | 1.7B | 1.7B | 1.7B | 1.7B | 1.7B | 1.7B | 1.8B | 1.7B | 1.6B | 1.6B |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 19.7 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 11.2 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 15.2 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.0 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.5 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 9.0% |
| Market Cap | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.3B |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.52 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.52 |
New Oriental Education & Technology Group Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 12.0% with a gross margin of 51.4%. Total shareholder yield (dividends + buybacks) is 7.4%.
New Oriental Education & Technology Group Inc. (NWOEF) has a current P/E ratio of 19.7.
New Oriental Education & Technology Group Inc. (NWOEF) has a 5-year average return on invested capital (ROIC) of 12.0%. This indicates solid capital allocation.
New Oriental Education & Technology Group Inc. (NWOEF) has a market capitalization of $7.3B. It is classified as a mid-cap stock.
Yes, New Oriental Education & Technology Group Inc. (NWOEF) pays a dividend with a trailing twelve-month yield of 1.34%. The company also returns capital through share buybacks, with a buyback yield of 6.10%.
New Oriental Education & Technology Group Inc. (NWOEF) reported annual revenue of $4.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
New Oriental Education & Technology Group Inc. (NWOEF) has a net profit margin of 7.6%. This is a modest margin.
New Oriental Education & Technology Group Inc. (NWOEF) generated $655 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
New Oriental Education & Technology Group Inc. (NWOEF) has a debt-to-equity ratio of 0.22. This indicates a conservatively financed balance sheet.
New Oriental Education & Technology Group Inc. (NWOEF) reported earnings per share (EPS) of $0.23 in its most recent fiscal year.
New Oriental Education & Technology Group Inc. (NWOEF) has a return on equity (ROE) of 10.0%. This indicates moderate shareholder returns.
New Oriental Education & Technology Group Inc. (NWOEF) has a 5-year average gross margin of 51.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for New Oriental Education & Technology Group Inc. (NWOEF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
New Oriental Education & Technology Group Inc. (NWOEF) has a book value per share of $2.27, based on its most recent annual SEC filing.
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