Tal Education Group Financials

TAL

Source SEC Filings (10-K/10-Q) Updated Feb 28, 2025 Currency USD FYE February

This page shows Tal Education Group (TAL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

Financial Health Signals

Financial Profile 60/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Tal Education Group has an operating margin of -0.1%, meaning the company retains $-0 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -4.6% the prior year.

Growth

100

Tal Education Group's revenue surged 51.0% year-over-year to $2.3B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Tal Education Group carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.86, Tal Education Group holds $2.86 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.

Cash Flow

Tal Education Group has a free cash flow margin of 12.7%, earning a moderate score of 64/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Tal Education Group generates a 2.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 9/100.

Piotroski F-Score Neutral

5/9

Tal Education Group passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

4.70x

For every $1 of reported earnings, Tal Education Group generates $4.70 in operating cash flow ($397.9M OCF vs $84.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$2.3B

YoY+51.0%

5Y CAGR-7.2%

10Y CAGR+17.9%

Tal Education Group generated $2.3B in revenue in fiscal year 2025. This represents an increase of 51.0% from the prior year.

EBITDA

$44.9M

YoY+201.8%

5Y CAGR-29.2%

10Y CAGR-5.6%

Tal Education Group's EBITDA was $44.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 201.8% from the prior year.

Free Cash Flow

$286.2M

YoY+48.0%

5Y CAGR-15.8%

10Y CAGR+9.4%

Tal Education Group generated $286.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 48.0% from the prior year.

Net Income

$84.6M

YoY+2467.5%

10Y CAGR+2.3%

Tal Education Group reported $84.6M in net income in fiscal year 2025. This represents an increase of 2467.5% from the prior year.

EPS (Diluted)

$0.41

YoY+2150.0%

10Y CAGR+0.0%

Tal Education Group earned $0.41 per diluted share (EPS) in fiscal year 2025. This represents an increase of 2150.0% from the prior year.

Cash & Debt

$1.8B

YoY-19.8%

5Y CAGR-1.1%

10Y CAGR+14.2%

Tal Education Group held $1.8B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

53.3%

YoY-0.8pp

5Y CAGR-1.8pp

10Y CAGR+0.1pp

Tal Education Group's gross margin was 53.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.

Operating Margin

-0.1%

YoY+4.5pp

5Y CAGR-4.3pp

10Y CAGR-15.6pp

Tal Education Group's operating margin was -0.1% in fiscal year 2025, reflecting core business profitability. This is up 4.5 percentage points from the prior year.

Net Margin

3.8%

YoY+4.0pp

5Y CAGR+7.1pp

10Y CAGR-11.7pp

Tal Education Group's net profit margin was 3.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.0 percentage points from the prior year.

Return on Equity

2.3%

10Y CAGR-19.2pp

Tal Education Group's ROE was 2.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

$13.1M

YoY-94.4%

Tal Education Group spent $13.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 94.4% from the prior year.

Capital Expenditures

$111.7M

YoY-0.9%

5Y CAGR-8.9%

10Y CAGR+13.8%

Tal Education Group invested $111.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.9% from the prior year.

TAL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.3B+51.0%	$1.5B+46.2%	$1.0B-76.8%	$4.4B-2.3%	$4.5B+37.3%	$3.3B
Cost of Revenue	$1.0B+53.4%	$684.3M+56.8%	$436.4M-80.2%	$2.2B+7.6%	$2.0B+39.5%	$1.5B
Gross Profit	$1.2B+48.9%	$806.1M+38.2%	$583.4M-73.3%	$2.2B-10.6%	$2.4B+35.6%	$1.8B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$458.9M+6.7%	$429.9M+3.9%	$413.8M-65.5%	$1.2B+7.4%	$1.1B+40.6%	$795.0M
Operating Income	-$3.2M+95.4%	-$69.2M+23.7%	-$90.7M+85.2%	-$614.5M-40.2%	-$438.2M-418.8%	$137.4M
Interest Expense	N/A	N/A	N/A	$7.9M-53.6%	$16.9M+43.4%	$11.8M
Income Tax	$38.3M+149.2%	$15.4M-23.1%	$20.0M-95.0%	$397.0M+668.0%	-$69.9M-200.8%	$69.3M
Net Income	$84.6M+2467.5%	-$3.6M+97.4%	-$135.6M+88.1%	-$1.1B-879.5%	-$116.0M-5.3%	-$110.2M
EPS (Diluted)	$0.41+2150.0%	$-0.02+96.9%	$-0.64+87.9%	$-5.29-828.1%	$-0.57-1.8%	$-0.56

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19	Q1'18
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

TAL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.5B+11.7%	$4.9B+4.3%	$4.7B-7.0%	$5.1B-58.0%	$12.1B+117.4%	$5.6B
Current Assets	$4.1B+11.6%	$3.7B+6.7%	$3.5B-4.4%	$3.6B-55.5%	$8.2B+226.8%	$2.5B
Cash & Equivalents	$1.8B-19.8%	$2.2B+9.2%	$2.0B+23.4%	$1.6B-49.5%	$3.2B+73.1%	$1.9B
Inventory	$104.9M+53.5%	$68.3M+75.2%	$39.0M+78.7%	$21.8M-43.6%	$38.7M+49.7%	$25.8M
Accounts Receivable	$94.2M+78.5%	$52.7M+17.7%	$44.8M+75.3%	$25.6M-1.3%	$25.9M-39.3%	$42.7M
Goodwill	N/A	N/A	N/A	N/A	$454.4M+19.9%	$378.9M
Total Liabilities	$1.7B+34.7%	$1.3B+42.7%	$903.4M-16.4%	$1.1B-84.4%	$6.9B+128.2%	$3.0B
Current Liabilities	$1.4B+33.2%	$1.1B+38.1%	$783.9M-13.2%	$902.6M-73.2%	$3.4B+86.8%	$1.8B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$261.9M
Total Equity	$3.8B+2.9%	$3.7B-4.7%	$3.8B-4.6%	$4.0B-22.5%	$5.2B+106.8%	$2.5B
Retained Earnings	-$624.1M+10.1%	-$694.3M-1.2%	-$685.9M-26.0%	-$544.3M-187.1%	$624.9M-20.5%	$786.1M

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19	Q1'18
Total Assets	$5.5B+11.7%	$4.9B+4.3%	$4.7B-7.0%	$5.1B-58.0%	$12.1B+117.4%	$5.6B+49.2%	$3.7B+22.3%	$3.1B
Current Assets	$4.1B+11.6%	$3.7B+6.7%	$3.5B-4.4%	$3.6B-55.5%	$8.2B+226.8%	$2.5B+43.0%	$1.7B+5.0%	$1.7B
Cash & Equivalents	$1.8B-19.8%	$2.2B+9.2%	$2.0B+23.4%	$1.6B-49.5%	$3.2B+73.1%	$1.9B+50.3%	$1.2B+75.3%	$711.5M
Inventory	$104.9M+53.5%	$68.3M+75.2%	$39.0M+78.7%	$21.8M-43.6%	$38.7M+49.7%	$25.8M+233.3%	$7.8M+47.0%	$5.3M
Accounts Receivable	$94.2M+78.5%	$52.7M+17.7%	$44.8M+75.3%	$25.6M-1.3%	$25.9M-39.3%	$42.7M-15.1%	$50.2M+205.1%	$16.5M
Goodwill	N/A	N/A	N/A	N/A	$454.4M+19.9%	$378.9M-8.5%	$414.2M+42.2%	$291.4M
Total Liabilities	$1.7B+34.7%	$1.3B+42.7%	$903.4M-16.4%	$1.1B-84.4%	$6.9B+128.2%	$3.0B+151.3%	$1.2B-14.8%	$1.4B
Current Liabilities	$1.4B+33.2%	$1.1B+38.1%	$783.9M-13.2%	$902.6M-73.2%	$3.4B+86.8%	$1.8B+52.6%	$1.2B+4.4%	$1.1B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$261.9M	$0-100.0%	$225.0M
Total Equity	$3.8B+2.9%	$3.7B-4.7%	$3.8B-4.6%	$4.0B-22.5%	$5.2B+106.8%	$2.5B+1.3%	$2.5B+53.2%	$1.6B
Retained Earnings	-$624.1M+10.1%	-$694.3M-1.2%	-$685.9M-26.0%	-$544.3M-187.1%	$624.9M-20.5%	$786.1M-14.6%	$920.3M+62.8%	$565.2M

TAL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$397.9M+30.0%	$306.2M+4061.1%	$7.4M+100.8%	-$939.2M-198.4%	$954.7M+11.6%	$855.9M
Capital Expenditures	$111.7M-0.9%	$112.7M+2.2%	$110.3M-55.2%	$246.3M+0.5%	$245.1M+37.6%	$178.1M
Free Cash Flow	$286.2M+48.0%	$193.4M+287.9%	-$103.0M+91.3%	-$1.2B-267.0%	$709.7M+4.7%	$677.8M
Investing Cash Flow	-$847.0M-991.0%	$95.1M+131.5%	-$301.6M-122.0%	$1.4B+151.8%	-$2.6B-679.6%	-$338.8M
Financing Cash Flow	-$13.2M+94.4%	-$233.1M-252.2%	-$66.2M+97.6%	-$2.8B-157.7%	$4.8B+3553.7%	$131.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$13.1M-94.4%	$233.6M+251.9%	$66.4M-66.2%	$196.3M+1892.3%	$9.9M	N/A

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19	Q1'18
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

TAL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	53.3%-0.8pp	54.1%-3.1pp	57.2%+7.4pp	49.8%-4.6pp	54.4%-0.7pp	55.1%
Operating Margin	-0.1%+4.5pp	-4.6%+4.3pp	-8.9%+5.1pp	-14.0%-4.3pp	-9.8%-14.0pp	4.2%
Net Margin	3.8%+4.0pp	-0.2%+13.1pp	-13.3%+12.6pp	-25.9%-23.3pp	-2.6%+0.8pp	-3.4%
Return on Equity	2.3%	N/A	N/A	N/A	N/A	N/A
Return on Assets	1.5%+1.6pp	-0.1%+2.8pp	-2.9%+19.5pp	-22.4%-21.4pp	-1.0%+1.0pp	-2.0%
Current Ratio	2.86-0.6	3.42-1.0	4.42+0.4	4.02+1.6	2.42+1.0	1.38
Debt-to-Equity	0.46+0.1	0.35+0.1	0.23-0.0	0.27-1.1	1.33+1.2	0.10
FCF Margin	12.7%-0.3pp	13.0%+23.1pp	-10.1%+16.9pp	-27.0%-42.8pp	15.8%-4.9pp	20.7%

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19	Q1'18
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	2.86-0.6	3.42-1.0	4.42+0.4	4.02+1.6	2.42+1.0	1.38-0.1	1.470.0	1.47
Debt-to-Equity	0.46+0.1	0.35+0.1	0.23-0.0	0.27-1.1	1.33+1.2	0.10+0.1	0.00-0.1	0.14
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Tal Education Group's annual revenue?

Tal Education Group (TAL) reported $2.3B in total revenue for fiscal year 2025. This represents a 51.0% 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 Tal Education Group's revenue growing?

Tal Education Group (TAL) revenue grew by 51% year-over-year, from $1.5B to $2.3B in fiscal year 2025.

Is Tal Education Group profitable?

Yes, Tal Education Group (TAL) reported a net income of $84.6M in fiscal year 2025, with a net profit margin of 3.8%.

What is Tal Education Group's earnings per share (EPS)?

Tal Education Group (TAL) reported diluted earnings per share of $0.41 for fiscal year 2025. This represents a 2150.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Tal Education Group's EBITDA?

Tal Education Group (TAL) had EBITDA of $44.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Tal Education Group's gross margin?

Tal Education Group (TAL) had a gross margin of 53.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Tal Education Group's operating margin?

Tal Education Group (TAL) had an operating margin of -0.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Tal Education Group's net profit margin?

Tal Education Group (TAL) had a net profit margin of 3.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Tal Education Group's return on equity (ROE)?

Tal Education Group (TAL) has a return on equity of 2.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tal Education Group's free cash flow?

Tal Education Group (TAL) generated $286.2M in free cash flow during fiscal year 2025. This represents a 48.0% 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 Tal Education Group's operating cash flow?

Tal Education Group (TAL) generated $397.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Tal Education Group's total assets?

Tal Education Group (TAL) had $5.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Tal Education Group's capital expenditures?

Tal Education Group (TAL) invested $111.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Tal Education Group buy back shares?

Yes, Tal Education Group (TAL) spent $13.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Tal Education Group's current ratio?

Tal Education Group (TAL) had a current ratio of 2.86 as of fiscal year 2025, which is generally considered healthy.

What is Tal Education Group's debt-to-equity ratio?

Tal Education Group (TAL) had a debt-to-equity ratio of 0.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tal Education Group's return on assets (ROA)?

Tal Education Group (TAL) had a return on assets of 1.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tal Education Group's Piotroski F-Score?

Tal Education Group (TAL) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tal Education Group's earnings high quality?

Tal Education Group (TAL) has an earnings quality ratio of 4.70x, 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.

How financially healthy is Tal Education Group?

Tal Education Group (TAL) scores 60 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.