TALNYSEServices-Educational Services
TAL Education Group
Financials through fiscal 2026, year ended Feb 28, 2026Last filing: 20-F on Jun 12, 2026
$11.89−0.11 (-0.92%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 4.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
55.4%+0.9 pts over 5 years
Operating margin
9.2%+18.9 pts over 5 years
Net margin
17.6%+20.2 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 | +33.7% | +43.4% | -7.7% | +17.1% | |
| Gross profit | +38.8% | +41.9% | -7.4% | +18.1% | |
| Operating income | – | – | – | +12.5% | |
| Net income | +527.4% | – | – | +17.8% | |
| EPS, diluted | +570.7% | – | – | +16.4% | |
| Free cash flow | +77.6% | – | -6.5% | +12.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 21.6% | -3.0% | 14.1% | |
| Return on assets | 8.1% | -1.3% | 9.3% | |
| Current ratio | 1.31 | 2.42 | 2.17 | |
| Debt to equity | 0.35 | – | – | |
| Interest coverage | 10.2× | -25.9× | – | |
| Inventory turnover | 305.1× | 63.5× | 10.8× | |
| Capex to revenue | 6.8% | 5.5% | 3.1% | |
| Diluted shares | 189M | 204M | 193M |
Where the cash went
Fiscal 2022 to 2026, five years combined
TAL Education generated $2.25B from operations and spent $1.83B on capital expenditure, dividends and share buybacks. 37% of that went back into the business.
Generated
$2.25B
Used
$1.83B
Capital expenditure$674.28M37%Dividends$00%Share buybacks$1.15B63%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin17.6%
×Asset turnover0.53×
×Equity multiplier1.52×
=Return on equity, FY202614.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 17.6% | 0.53× | 1.52× | 14.1% |
| FY2025 | 3.8% | 0.43× | 1.40× | 2.3% |
| FY2024 | -0.2% | 0.31× | 1.29× | -0.1% |
| FY2023 | -13.3% | 0.21× | 1.25× | -3.4% |
| FY2022 | -25.9% | 0.51× | 1.86× | -24.6% |
| FY2021 | -2.6% | 0.51× | 2.29× | -3.0% |
| FY2020 | -3.4% | 0.70× | 1.86× | -4.4% |
| FY2019 | 14.3% | 0.75× | 1.65× | 17.9% |
| FY2018 | 11.6% | 0.70× | 2.16× | 17.5% |
| FY2017 | 11.2% | 0.72× | 2.67× | 21.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
7of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$530.75M
- Cash generatingOperating cash flow above zero$601.47M
- Return on assets improvedROA up on the prior year1.7% → 9.6%
- Earnings backed by cashOperating cash flow above net income$601.47M vs $530.75M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.86 → 2.17
- No dilutionShare count did not rise205M → 193M
- Gross margin improvedGross margin up on the prior year53.34% → 55.35%
- More efficientAsset turnover rose0.46 → 0.55