EDUNYSEServices-Educational ServicesFiscal year ends May 31Also trades as NWOEF
New Oriental Education & Technology Group Inc.
Financials through fiscal 2026, year ended May 31, 2026Last filing: 20-F on Sep 22, 2026
$60.50−0.38 (-0.62%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
54.6%+2.3 pts over 5 years
Operating margin
11.4%+8.6 pts over 5 years
Net margin
8.4%+0.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +15.5% | +23.6% | +5.8% | +14.4% | |
| Gross profit | +13.8% | +24.9% | +6.7% | +13.6% | |
| Operating income | +50.2% | +50.1% | +40.6% | +12.5% | |
| Net income | +27.8% | +38.9% | +7.3% | +7.8% | |
| Free cash flow | +19.2% | -2.0% | +2.2% | +5.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 17.8% | 8.7% | 12.4% | |
| Return on assets | 10.4% | 4.0% | 5.7% | |
| Current ratio | 1.93 | 1.89 | 1.50 | |
| Debt to equity | – | 0.00 | – | |
| Net debt to EBITDA | – | -4.76× | – | |
| Interest coverage | – | 17.4× | 22973.3× | |
| Inventory turnover | 25.4× | 65.2× | 27.5× | |
| Capex to revenue | 5.9% | 10.0% | 4.4% | |
| Diluted shares | 1.58B | 1.65B | 1.60B |
Where the cash went
Fiscal 2022 to 2026, five years combined
New Oriental Education & Technology generated $5.30B from operations and spent $2.16B on capital expenditure, dividends and share buybacks. 48% of that went back into the business.
Generated
$5.30B
Used
$2.16B
Capital expenditure$1.03B48%Dividends$194.56M9%Share buybacks$930.96M43%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.4%
×Asset turnover0.68×
×Equity multiplier2.17×
=Return on equity, FY202612.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 8.4% | 0.68× | 2.17× | 12.4% |
| FY2025 | 7.6% | 0.64× | 2.06× | 10.0% |
| FY2024 | 7.2% | 0.62× | 1.89× | 8.4% |
| FY2023 | 5.9% | 0.48× | 1.70× | 4.9% |
| FY2022 | -38.2% | 0.38× | 1.88× | -27.6% |
| FY2021 | 7.8% | 0.51× | 2.19× | 8.7% |
| FY2020 | 11.5% | 0.64× | 2.20× | 16.2% |
| FY2019 | 7.7% | 0.72× | 1.98× | 10.9% |
| FY2018 | 12.1% | 0.71× | 1.88× | 16.1% |
| FY2017 | 15.3% | 0.68× | 1.71× | 17.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
6of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$475.17M
- Cash generatingOperating cash flow above zero$1.03B
- Return on assets improvedROA up on the prior year4.9% → 6.1%
- Earnings backed by cashOperating cash flow above net income$1.03B vs $475.17M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.58 → 1.50
- No dilutionShare count did not rise1.63B → 1.60B
- Gross margin improvedGross margin up on the prior year55.45% → 54.64%
- More efficientAsset turnover rose0.65 → 0.73