Fundies.
English

New Oriental Education & Technology Group Inc.

EDGAR
EDU Report (type unavailable) · filed 2026-10-08

Annual consolidated revenue for 2026: about USD 5.661B, using the latest reported figures. The previous period, 2025, was about USD 4.9B.

Inspect reported changes Compare with another company Historical disclosures Search filings Segments
Watchlist

Latest fiscal year

Revenue

5.66 billion USD

2026 · USD

Exact inputs and evidence
  • Revenue: 5661294000 USD Source

Operating margin

11.36%

2026 · %

Exact inputs and evidence
  • Operating Income: 643251000 USD Source
  • Revenue: 5661294000 USD Source

Operating cash flow

1.03 billion USD

2026 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1027080000 USD Source

Free cash flow

780 million USD

2026 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1027080000 USD Source
  • Capital Expenditure: 246869000 USD Source
Cash and cash equivalents
1.82 billion USD Source
Exact value

1821202000 USD

Long-term debt including current maturities
Not available
Shares outstanding
1.55 billion shares Source
Exact value

1549068783 shares

Reported share-count change

-1.98% · -31.2 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 1580288613 shares · 2025-05-31· Source
  • 1549068783 shares · 2026-05-31· Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-08.

Financial data available through: 2026-05-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2026-05-31
  • Operating income: 11 of 11 periods available· newest 2026-05-31
  • Net income: 11 of 11 periods available· newest 2026-05-31
  • Operating cash flow: 11 of 11 periods available· newest 2026-05-31
  • Capital expenditure: 11 of 11 periods available· newest 2026-05-31
  • Total assets: 11 of 11 periods available· newest 2026-05-31
  • Total liabilities: 11 of 11 periods available· newest 2026-05-31
  • Current assets: 11 of 11 periods available· newest 2026-05-31
  • Current liabilities: 11 of 11 periods available· newest 2026-05-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2026-05-31
  • long term debt: No compatible figures in this window
  • Shares outstanding: 11 of 11 periods available· newest 2026-05-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +15.5%

    Prior period

    USD 4.9 billion

    –

    Current period

    USD 5.66 billion

    –

    Exact inputs and evidence

    5661294000 − 4900262000 = 761032000 USD

    4900262000 USD · 2024-06-01 – 2025-05-31

    Inspect prior input Prior source

    5661294000 USD · 2025-06-01 – 2026-05-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Net income

    +27.8%

    Prior period

    USD 371.72 million

    –

    Current period

    USD 475.17 million

    –

    Exact inputs and evidence

    475172000 − 371716000 = 103456000 USD

    371716000 USD · 2024-06-01 – 2025-05-31

    Inspect prior input Prior source

    475172000 USD · 2025-06-01 – 2026-05-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Operating cash flow

    +14.6%

    Prior period

    USD 896.59 million

    –

    Current period

    USD 1.03 billion

    –

    Exact inputs and evidence

    1027080000 − 896592000 = 130488000 USD

    896592000 USD · 2024-06-01 – 2025-05-31

    Inspect prior input Prior source

    1027080000 USD · 2025-06-01 – 2026-05-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Capital expenditure

    +2%

    Prior period

    USD 241.94 million

    –

    Current period

    USD 246.87 million

    –

    Exact inputs and evidence

    246869000 − 241938000 = 4931000 USD

    241938000 USD · 2024-06-01 – 2025-05-31

    Inspect prior input Prior source

    246869000 USD · 2025-06-01 – 2026-05-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2026 2025-06-01 – 2026-05-31

  • Revenue USD 5.66 billion 100% of revenue
  • Operating costs Derived USD 5.02 billion 89% of revenue
  • Operating income USD 643.25 million 11% of revenue
  • Tax, interest and other Derived USD 168.08 million 3% of revenue
  • Net income USD 475.17 million 8.4% of revenue

Cash

  • Operating cash flow USD 1.03 billion 18% of revenue
  • Capital expenditure USD 246.87 million 4.4% of revenue
  • Free cash flow Derived USD 780.21 million 14% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2017 Net income was higher than operating income, so the split is not drawn.
  • 2018 Net income was higher than operating income, so the split is not drawn.
  • 2019 90%
  • 2020 Net income was higher than operating income, so the split is not drawn.
  • 2021 Net income was higher than operating income, so the split is not drawn.
  • 2022 Operating loss: operating costs were 132% of revenue.
  • 2023 94%
  • 2024 92%
  • 2025 91%
  • 2026 89%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2017 2016-06-01 – 2017-05-311799509000 1537360000 Derived 262149000 -12308000 Derived 274457000 516958000 Derived
Source
2018 2017-06-01 – 2018-05-312447430000 2184471000 Derived 262959000 -33171000 Derived 296130000 566872000 Derived
Source
2019 2018-06-01 – 2019-05-313096491000 2790957000 Derived 305534000 67469000 Derived 238065000 536508000 Derived
Source
2020 2019-06-01 – 2020-05-313578682000 3179679000 Derived 399003000 -14330000 Derived 413333000 494907000 Derived
Source
2021 2020-06-01 – 2021-05-314276539000 4159273000 Derived 117266000 -217148000 Derived 334414000 700888000 Derived
Source
2022 2021-06-01 – 2022-05-313105246000 4087759000 Derived -982513000 205208000 Derived -1187721000 -1431191000 Derived
Source
2023 2022-06-01 – 2023-05-312997760000 2807714000 Derived 190046000 12705000 Derived 177341000 827963000 Derived
Source
2024 2023-06-01 – 2024-05-314313586000 3963161000 Derived 350425000 40834000 Derived 309591000 873250000 Derived
Source
2025 2024-06-01 – 2025-05-314900262000 4472012000 Derived 428250000 56534000 Derived 371716000 654654000 Derived
Source
2026 2025-06-01 – 2026-05-315661294000 5018043000 Derived 643251000 168079000 Derived 475172000 780211000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 5.7B 2026
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.6.1B4.6B3.1B1.5B0.0201720222026
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Revenue1799509000
2018Revenue2447430000
2019Revenue3096491000
2020Revenue3578682000
2021Revenue4276539000
2022Revenue3105246000
2023Revenue2997760000
2024Revenue4313586000
2025Revenue4900262000
2026Revenue5661294000

Revenue growth

Change in revenue from the same financial period one year earlier.

15.5% 2026
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.50%29%8%-12%-33%201720222026
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2017Year over year21.7%
2018Year over year36%
2019Year over year26.5%
2020Year over year15.6%
2021Year over year19.5%
2022Year over year-27.4%
2023Year over year-3.5%
2024Year over year43.9%
2025Year over year13.6%
2026Year over year15.5%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 11.4% 2026
Net margin 8.4% 2026
Free cash flow margin 13.8% 2026
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.35%13%-9%-30%-52%201720222026
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2017Operating margin14.6%
2018Operating margin10.7%
2019Operating margin9.9%
2020Operating margin11.1%
2021Operating margin2.7%
2022Operating margin-31.6%
2023Operating margin6.3%
2024Operating margin8.1%
2025Operating margin8.7%
2026Operating margin11.4%
2017Net margin15.3%
2018Net margin12.1%
2019Net margin7.7%
2020Net margin11.5%
2021Net margin7.8%
2022Net margin-38.2%
2023Net margin5.9%
2024Net margin7.2%
2025Net margin7.6%
2026Net margin8.4%
2017Free cash flow margin28.7%
2018Free cash flow margin23.2%
2019Free cash flow margin17.3%
2020Free cash flow margin13.8%
2021Free cash flow margin16.4%
2022Free cash flow margin-46.1%
2023Free cash flow margin27.6%
2024Free cash flow margin20.2%
2025Free cash flow margin13.4%
2026Free cash flow margin13.8%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 1B 2026
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.3B623.9M-75.2M-774.2M-1.5B201720222026
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Operating cash flow622694000
2018Operating cash flow781127000
2019Operating cash flow805648000
2020Operating cash flow804455000
2021Operating cash flow1130085000
2022Operating cash flow-1280453000
2023Operating cash flow971008000
2024Operating cash flow1122643000
2025Operating cash flow896592000
2026Operating cash flow1027080000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 780.2M 2026
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.1B389.3M-279.0M-947.3M-1.6B201720222026
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Free cash flow516958000
2018Free cash flow566872000
2019Free cash flow536508000
2020Free cash flow494907000
2021Free cash flow700888000
2022Free cash flow-1431191000
2023Free cash flow827963000
2024Free cash flow873250000
2025Free cash flow654654000
2026Free cash flow780211000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

50.8% 2026
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.61%46%30%15%0%201720222026
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2017Liabilities / assets41.2%
2018Liabilities / assets44.3%
2019Liabilities / assets45.7%
2020Liabilities / assets56.2%
2021Liabilities / assets50.6%
2022Liabilities / assets37.1%
2023Liabilities / assets40.3%
2024Liabilities / assets46.2%
2025Liabilities / assets49.3%
2026Liabilities / assets50.8%

Current assets to current liabilities

Current assets divided by current liabilities.

1.5× 2026
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.83×2.12×1.41×0.71×0.00×201720222026
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2017Current assets / current liabilities1.93×
2018Current assets / current liabilities1.68×
2019Current assets / current liabilities1.73×
2020Current assets / current liabilities1.52×
2021Current assets / current liabilities1.89×
2022Current assets / current liabilities2.62×
2023Current assets / current liabilities1.96×
2024Current assets / current liabilities1.8×
2025Current assets / current liabilities1.58×
2026Current assets / current liabilities1.5×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2017 2016-06-01 – 2017-05-31
USD 274.46 million
Exact value

Exact value: 274457000 USD

2016-06-01 – 2017-05-31: 274457000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 622.69 million
Exact value

Exact value: 622694000 USD

2016-06-01 – 2017-05-31: 622694000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 105.74 million
Exact value

Exact value: 105736000 USD

2016-06-01 – 2017-05-31: 105736000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 516.96 million
Calculation and evidence

622694000 − 105736000 USD

Exact free cash flow: 516958000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2018 2017-06-01 – 2018-05-31
USD 296.13 million
Exact value

Exact value: 296130000 USD

2017-06-01 – 2018-05-31: 296130000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 781.13 million
Exact value

Exact value: 781127000 USD

2017-06-01 – 2018-05-31: 781127000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 214.26 million
Exact value

Exact value: 214255000 USD

2017-06-01 – 2018-05-31: 214255000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 566.87 million
Calculation and evidence

781127000 − 214255000 USD

Exact free cash flow: 566872000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2019 2018-06-01 – 2019-05-31
USD 238.07 million
Exact value

Exact value: 238065000 USD

2018-06-01 – 2019-05-31: 238065000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 805.65 million
Exact value

Exact value: 805648000 USD

2018-06-01 – 2019-05-31: 805648000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 269.14 million
Exact value

Exact value: 269140000 USD

2018-06-01 – 2019-05-31: 269140000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 536.51 million
Calculation and evidence

805648000 − 269140000 USD

Exact free cash flow: 536508000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2020 2019-06-01 – 2020-05-31
USD 413.33 million
Exact value

Exact value: 413333000 USD

2019-06-01 – 2020-05-31: 413333000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 804.46 million
Exact value

Exact value: 804455000 USD

2019-06-01 – 2020-05-31: 804455000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 309.55 million
Exact value

Exact value: 309548000 USD

2019-06-01 – 2020-05-31: 309548000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 494.91 million
Calculation and evidence

804455000 − 309548000 USD

Exact free cash flow: 494907000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2021 2020-06-01 – 2021-05-31
USD 334.41 million
Exact value

Exact value: 334414000 USD

2020-06-01 – 2021-05-31: 334414000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 1.13 billion
Exact value

Exact value: 1130085000 USD

2020-06-01 – 2021-05-31: 1130085000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 429.2 million
Exact value

Exact value: 429197000 USD

2020-06-01 – 2021-05-31: 429197000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 700.89 million
Calculation and evidence

1130085000 − 429197000 USD

Exact free cash flow: 700888000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2022 2021-06-01 – 2022-05-31
−USD 1.19 billion
Exact value

Exact value: -1187721000 USD

2021-06-01 – 2022-05-31: -1187721000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 1.28 billion
Exact value

Exact value: -1280453000 USD

2021-06-01 – 2022-05-31: -1280453000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 150.74 million
Exact value

Exact value: 150738000 USD

2021-06-01 – 2022-05-31: 150738000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−USD 1.43 billion
Calculation and evidence

-1280453000 − 150738000 USD

Exact free cash flow: -1431191000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2023 2022-06-01 – 2023-05-31
USD 177.34 million
Exact value

Exact value: 177341000 USD

2022-06-01 – 2023-05-31: 177341000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 971.01 million
Exact value

Exact value: 971008000 USD

2022-06-01 – 2023-05-31: 971008000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 143.05 million
Exact value

Exact value: 143045000 USD

2022-06-01 – 2023-05-31: 143045000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 827.96 million
Calculation and evidence

971008000 − 143045000 USD

Exact free cash flow: 827963000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2024 2023-06-01 – 2024-05-31
USD 309.59 million
Exact value

Exact value: 309591000 USD

2023-06-01 – 2024-05-31: 309591000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 1.12 billion
Exact value

Exact value: 1122643000 USD

2023-06-01 – 2024-05-31: 1122643000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 249.39 million
Exact value

Exact value: 249393000 USD

2023-06-01 – 2024-05-31: 249393000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 873.25 million
Calculation and evidence

1122643000 − 249393000 USD

Exact free cash flow: 873250000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2025 2024-06-01 – 2025-05-31
USD 371.72 million
Exact value

Exact value: 371716000 USD

2024-06-01 – 2025-05-31: 371716000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 896.59 million
Exact value

Exact value: 896592000 USD

2024-06-01 – 2025-05-31: 896592000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 241.94 million
Exact value

Exact value: 241938000 USD

2024-06-01 – 2025-05-31: 241938000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 654.65 million
Calculation and evidence

896592000 − 241938000 USD

Exact free cash flow: 654654000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2026 2025-06-01 – 2026-05-31
USD 475.17 million
Exact value

Exact value: 475172000 USD

2025-06-01 – 2026-05-31: 475172000 USD Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 1.03 billion
Exact value

Exact value: 1027080000 USD

2025-06-01 – 2026-05-31: 1027080000 USD Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 246.87 million
Exact value

Exact value: 246869000 USD

2025-06-01 – 2026-05-31: 246869000 USD Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

USD 780.21 million
Calculation and evidence

1027080000 − 246869000 USD

Exact free cash flow: 780211000 USD

Share or cite

The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

206 filings · 1,956 latest values · 1,956 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001372920, 1372920, EDU, NWOEF, edgar:1372920

Also known as NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC., New Oriental Education & Technology Group Inc.