New Oriental Education & Technology Group Inc. income statement NWOEF
In fiscal 2026, which ended May 31, 2026, New Oriental Education & Technology Group Inc. reported revenue of $5.7 billion, up 15.5% from the year before. Net income was $475.2 million, a profit margin of 8.4%. Operating income came to $643.3 million, an operating margin of 11.4%. Across the 10 fiscal years shown, revenue grew from $1.8 billion in fiscal 2017 to $5.7 billion in fiscal 2026, about 13.6% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2026
May 31, 2026
|
FY 2025
May 31, 2025
|
FY 2024
May 31, 2024
|
FY 2023
May 31, 2023
|
FY 2022
May 31, 2022
|
FY 2021
May 31, 2021
|
FY 2020
May 31, 2020
|
FY 2019
May 31, 2019
|
FY 2018
May 31, 2018
|
FY 2017
May 31, 2017
|
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
5,661
+15.5%
|
4,900
+13.6%
|
4,314
+43.9%
|
2,998
-3.5%
|
3,105
-27.4%
|
4,277
+19.5%
|
3,579
+15.6%
|
3,096
+26.5%
|
2,447
+36.0%
|
1,800
+21.7%
|
| Cost of revenue |
2,568
+17.6%
|
2,183
+6.5%
|
2,051
+45.5%
|
1,409
-19.7%
|
1,754
-13.9%
|
2,037
+28.2%
|
1,589
+15.4%
|
1,376
+29.1%
|
1,066
+42.2%
|
750
+22.0%
|
| Gross profit |
3,093
+13.8%
|
2,717
+20.1%
|
2,263
+42.5%
|
1,588
+17.6%
|
1,351
-39.7%
|
2,240
+12.6%
|
1,990
+15.7%
|
1,720
+24.5%
|
1,382
+31.6%
|
1,050
+21.5%
|
| Selling, general and administrative |
2,450
+9.9%
|
2,228
+16.5%
|
1,912
+36.8%
|
1,398
-40.1%
|
2,333
+11.6%
|
2,091
+31.4%
|
1,591
+12.6%
|
1,413
+26.3%
|
1,119
+42.0%
|
788
+17.8%
|
| Operating expenses |
2,450
|
—
|
1,912
+36.8%
|
1,398
-40.1%
|
2,333
|
—
|
1,591
|
—
|
1,119
+42.0%
|
788
|
| Operating income |
643
+50.2%
|
428
+22.2%
|
350
+84.4%
|
190
+119.3%
|
-983
-937.8%
|
117
-70.6%
|
399
+30.6%
|
306
+16.2%
|
263
+0.3%
|
262
+31.8%
|
| Pretax income |
731
+36.2%
|
536
+8.6%
|
494
+60.1%
|
309
+129.9%
|
-1,032
-427.8%
|
315
-35.4%
|
488
+54.5%
|
316
-11.5%
|
357
+8.0%
|
331
+23.7%
|
| Income tax |
196
+34.1%
|
146
+33.4%
|
110
+66.0%
|
66
-51.5%
|
136
+63.1%
|
84
-37.8%
|
134
+56.8%
|
86
+44.3%
|
59
+17.4%
|
51
+34.9%
|
| Net income |
475
+27.8%
|
372
+20.1%
|
310
+74.6%
|
177
+114.9%
|
-1,188
-455.2%
|
334
-19.1%
|
413
+73.6%
|
238
-19.6%
|
296
+7.9%
|
274
+22.0%
|
| Weighted average shares, basic |
1,578
-2.5%
|
1,620
-2.0%
|
1,654
-1.5%
|
1,678
-1.1%
|
1,696
+3.1%
|
1,645
+3.9%
|
1,584
+0.1%
|
1,583
+900.8%
|
158
+0.4%
|
158
+0.5%
|
| Weighted average shares, diluted |
1,596
-2.2%
|
1,631
-2.3%
|
1,669
-1.0%
|
1,686
-0.6%
|
1,696
+2.7%
|
1,652
+3.5%
|
1,595
+0.3%
|
1,590
+903.0%
|
159
+0.4%
|
158
+0.4%
|
| Other measures | ||||||||||
| Depreciation and amortization |
172
+22.8%
|
140
+38.9%
|
101
-14.0%
|
117
-39.1%
|
192
-14.8%
|
226
+54.2%
|
146
+33.0%
|
110
+42.8%
|
77
+43.1%
|
54
+13.9%
|
| EBITDA |
815
+43.5%
|
568
+25.9%
|
451
+46.9%
|
307
+138.9%
|
-790
-330.4%
|
343
-37.1%
|
545
+31.2%
|
416
+22.2%
|
340
+7.6%
|
316
+28.4%
|
| Interest coverage |
22,973.25x
|
1,377.01x
|
1,175.92x
|
268.81x
|
-242.60x
|
17.38x
|
86.23x
|
189.19x
|
—
|
—
|
| Margins | ||||||||||
| Gross margin |
54.64%
|
55.45%
|
52.45%
|
52.98%
|
43.51%
|
52.37%
|
55.60%
|
55.55%
|
56.45%
|
58.34%
|
| Operating margin |
11.36%
|
8.74%
|
8.12%
|
6.34%
|
-31.64%
|
2.74%
|
11.15%
|
9.87%
|
10.74%
|
14.57%
|
| Pretax margin |
12.90%
|
10.95%
|
11.45%
|
10.29%
|
-33.25%
|
7.37%
|
13.63%
|
10.20%
|
14.59%
|
18.38%
|
| Profit margin |
8.39%
|
7.59%
|
7.18%
|
5.92%
|
-38.25%
|
7.82%
|
11.55%
|
7.69%
|
12.10%
|
15.25%
|
| EBITDA margin |
14.40%
|
11.59%
|
10.46%
|
10.24%
|
-25.45%
|
8.02%
|
15.24%
|
13.42%
|
13.89%
|
17.56%
|
| Effective tax rate |
26.84%
|
27.27%
|
22.21%
|
21.41%
|
—
|
26.54%
|
27.54%
|
27.14%
|
16.64%
|
15.31%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Services-Educational Services (SIC 8200)
- Listed as
- EDU (NYSE), NWOEF (OTC)
- Fiscal year ends
- May 31
- Incorporated in
- Cayman Islands
- Headquarters
- Beijing
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1372920
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Source: SEC EDGAR filings. This is company-reported data, not investment advice.