This page shows New Oriental Education & Technology Group Inc (NWOEF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Higher sales are dropping through to profit, but cash conversion softened in FY2025 despite stronger earnings.
From FY2023 to FY2025, operating margin rose from6.3% to8.7% , which suggests better fixed-cost absorption rather than a simple top-line rebound. But free cash flow slipped to$655M in FY2025 even as net income reached$372M , so part of the earnings improvement stayed tied up in timing or working-capital demands instead of arriving as spendable cash.
The balance sheet looks liability-heavy but not interest-heavy: debt-to-equity was 1.1x in FY2025, yet interest expense was only
Gross margin reached
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of New Oriental Education & Technology Group Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
New Oriental Education & Technology Group Inc has an operating margin of 8.7%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 40/100, indicating healthy but not exceptional operating efficiency. This is up from 8.1% the prior year.
New Oriental Education & Technology Group Inc's revenue grew 13.6% year-over-year to $4.9B, a solid pace of expansion. This earns a growth score of 80/100.
New Oriental Education & Technology Group Inc carries a low D/E ratio of 1.05, meaning only $1.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
New Oriental Education & Technology Group Inc's current ratio of 1.58 is below the typical benchmark, resulting in a score of 27/100. This tight liquidity could limit financial flexibility if cash inflows slow.
New Oriental Education & Technology Group Inc converts 13.4% of revenue into free cash flow ($654.7M). This strong cash generation earns a score of 71/100.
New Oriental Education & Technology Group Inc's ROE of 10.2% shows moderate profitability relative to equity, earning a score of 30/100. This is up from 8.2% the prior year.
New Oriental Education & Technology Group Inc scores 2.68, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
New Oriental Education & Technology Group Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, New Oriental Education & Technology Group Inc generates $2.41 in operating cash flow ($896.6M OCF vs $371.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
New Oriental Education & Technology Group Inc earns $1377.0 in operating income for every $1 of interest expense ($428.3M vs $311K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
New Oriental Education & Technology Group Inc generated $4.9B in revenue in fiscal year 2025. This represents an increase of 13.6% from the prior year.
New Oriental Education & Technology Group Inc's EBITDA was $568.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 25.9% from the prior year.
New Oriental Education & Technology Group Inc reported $371.7M in net income in fiscal year 2025. This represents an increase of 20.1% from the prior year.
New Oriental Education & Technology Group Inc earned $0.23 per diluted share (EPS) in fiscal year 2025. This represents an increase of 27.8% from the prior year.
Cash & Balance Sheet
New Oriental Education & Technology Group Inc generated $654.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 25.0% from the prior year.
New Oriental Education & Technology Group Inc held $1.6B in cash against $0 in long-term debt as of fiscal year 2025.
New Oriental Education & Technology Group Inc had 1.58B shares outstanding in fiscal year 2025. This represents a decrease of 4.1% from the prior year.
Margins & Returns
New Oriental Education & Technology Group Inc's gross margin was 55.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.0 percentage points from the prior year.
New Oriental Education & Technology Group Inc's operating margin was 8.7% in fiscal year 2025, reflecting core business profitability. This is up 0.6 percentage points from the prior year.
New Oriental Education & Technology Group Inc's net profit margin was 7.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.4 percentage points from the prior year.
New Oriental Education & Technology Group Inc's ROE was 10.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.
Capital Allocation
New Oriental Education & Technology Group Inc spent $445.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 607.8% from the prior year.
New Oriental Education & Technology Group Inc invested $241.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 3.0% from the prior year.
NWOEF Income Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NWOEF Balance Sheet
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.8B+3.6% | $7.5B+17.8% | $6.4B+5.9% | $6.0B-40.6% | $10.2B+54.8% | $6.6B+41.1% | $4.6B+16.8% | $4.0B |
| Current Assets | $5.2B-3.7% | $5.4B+22.1% | $4.4B-1.3% | $4.5B-31.9% | $6.6B+75.0% | $3.8B+8.4% | $3.5B+17.8% | $2.9B |
| Cash & Equivalents | $1.6B+16.1% | $1.4B-16.5% | $1.7B+44.8% | $1.1B-28.8% | $1.6B+76.2% | $915.1M-35.3% | $1.4B+43.8% | $983.3M |
| Inventory | $80.9M-12.8% | $92.8M+76.1% | $52.7M+88.7% | $27.9M-10.4% | $31.2M-0.5% | $31.3M+7.8% | $29.0M-27.7% | $40.2M |
| Accounts Receivable | $33.6M+13.3% | $29.7M-10.2% | $33.1M+101.3% | $16.4M+89.6% | $8.7M+107.4% | $4.2M+26.6% | $3.3M+3.8% | $3.2M |
| Goodwill | $43.8M-57.8% | $104.0M-1.5% | $105.5M+49.0% | $70.8M-3.3% | $73.3M-8.8% | $80.4M+0.9% | $79.6M+150.9% | $31.7M |
| Total Liabilities | $3.9B+10.6% | $3.5B+35.1% | $2.6B+15.0% | $2.2B-56.3% | $5.1B+39.2% | $3.7B+73.8% | $2.1B+20.3% | $1.8B |
| Current Liabilities | $3.3B+9.6% | $3.0B+33.3% | $2.3B+31.6% | $1.7B-50.7% | $3.5B+40.0% | $2.5B+23.6% | $2.0B+14.6% | $1.8B |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0-100.0% | $117.9M+22.2% | $96.5M | N/A |
| Total Equity | $3.7B-3.0% | $3.8B+4.8% | $3.6B-2.7% | $3.7B-24.6% | $4.9B+79.8% | $2.7B+15.8% | $2.4B+18.5% | $2.0B |
| Retained Earnings | $1.8B+16.9% | $1.5B+23.5% | $1.2B+15.1% | $1.1B-52.7% | $2.3B+13.4% | $2.0B+20.6% | $1.6B+21.8% | $1.4B |
NWOEF Cash Flow Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NWOEF Financial Ratios
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 1.58-0.2 | 1.80-0.2 | 1.96-0.7 | 2.62+0.7 | 1.89+0.4 | 1.52-0.2 | 1.73+0.0 | 1.68 |
| Debt-to-Equity | 1.05+0.1 | 0.92+0.2 | 0.72+0.1 | 0.60+0.6 | 0.00-0.0 | 0.040.0 | 0.04-0.8 | 0.89 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
What is New Oriental Education & Technology Group Inc's annual revenue?
New Oriental Education & Technology Group Inc (NWOEF) reported $4.9B in total revenue for fiscal year 2025. This represents a 13.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is New Oriental Education & Technology Group Inc's revenue growing?
New Oriental Education & Technology Group Inc (NWOEF) revenue grew by 13.6% year-over-year, from $4.3B to $4.9B in fiscal year 2025.
Is New Oriental Education & Technology Group Inc profitable?
Yes, New Oriental Education & Technology Group Inc (NWOEF) reported a net income of $371.7M in fiscal year 2025, with a net profit margin of 7.6%.
What is New Oriental Education & Technology Group Inc's EBITDA?
New Oriental Education & Technology Group Inc (NWOEF) had EBITDA of $568.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is New Oriental Education & Technology Group Inc's gross margin?
New Oriental Education & Technology Group Inc (NWOEF) had a gross margin of 55.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is New Oriental Education & Technology Group Inc's operating margin?
New Oriental Education & Technology Group Inc (NWOEF) had an operating margin of 8.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is New Oriental Education & Technology Group Inc's net profit margin?
New Oriental Education & Technology Group Inc (NWOEF) had a net profit margin of 7.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is New Oriental Education & Technology Group Inc's return on equity (ROE)?
New Oriental Education & Technology Group Inc (NWOEF) has a return on equity of 10.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is New Oriental Education & Technology Group Inc's free cash flow?
New Oriental Education & Technology Group Inc (NWOEF) generated $654.7M in free cash flow during fiscal year 2025. This represents a -25.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is New Oriental Education & Technology Group Inc's operating cash flow?
New Oriental Education & Technology Group Inc (NWOEF) generated $896.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are New Oriental Education & Technology Group Inc's total assets?
New Oriental Education & Technology Group Inc (NWOEF) had $7.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are New Oriental Education & Technology Group Inc's capital expenditures?
New Oriental Education & Technology Group Inc (NWOEF) invested $241.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is New Oriental Education & Technology Group Inc's current ratio?
New Oriental Education & Technology Group Inc (NWOEF) had a current ratio of 1.58 as of fiscal year 2025, which is generally considered healthy.
What is New Oriental Education & Technology Group Inc's debt-to-equity ratio?
New Oriental Education & Technology Group Inc (NWOEF) had a debt-to-equity ratio of 1.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is New Oriental Education & Technology Group Inc's return on assets (ROA)?
New Oriental Education & Technology Group Inc (NWOEF) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is New Oriental Education & Technology Group Inc's Altman Z-Score?
New Oriental Education & Technology Group Inc (NWOEF) has an Altman Z-Score of 2.68, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is New Oriental Education & Technology Group Inc's Piotroski F-Score?
New Oriental Education & Technology Group Inc (NWOEF) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are New Oriental Education & Technology Group Inc's earnings high quality?
New Oriental Education & Technology Group Inc (NWOEF) has an earnings quality ratio of 2.41x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can New Oriental Education & Technology Group Inc cover its interest payments?
New Oriental Education & Technology Group Inc (NWOEF) has an interest coverage ratio of 1377.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is New Oriental Education & Technology Group Inc?
New Oriental Education & Technology Group Inc (NWOEF) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.