EDU FY 2018 Earnings Report — New Oriental Education & Technology Group Inc. Revenue & Financial Results | Market Cap Arena

New Oriental Education & Technology Group Inc.EDU

FY 2018 Earnings

Reported September 27, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$2.4B	—	$1.8B	—	36.0%
Op. Income	$263M	—	$262M	—	0.3%
Gross Margin	56.5%	—	58.3%	—	-1.9pp
Net Margin	12.1%	—	15.3%	—	-3.2pp
EPS (Diluted)	$1.90	—	$1.70	—	11.8%
Free Cash Flow	$562M	—	$512M	—	9.6%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$324M
General & Administrative	$794M
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$2.2B
OPERATING INCOME	$263M
Interest Income	$85M
Interest Expense	$0
Other Income/Expenses	$94M
INCOME BEFORE TAX	$357M
Income Tax Expense	$59M
Net Income from Continuing Ops	$297M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$296M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$296M
D&A	$79M
EBIT	$357M
EBITDA	$436M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$324M
General & Administrative	$794M
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$2.2B
OPERATING INCOME	$263M
Interest Income	$85M
Interest Expense	$0
Other Income/Expenses	$94M
INCOME BEFORE TAX	$357M
Income Tax Expense	$59M
Net Income from Continuing Ops	$297M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$296M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$296M
D&A	$79M
EBIT	$357M
EBITDA	$436M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$297M
Depreciation & Amortization	$79M
Stock-Based Compensation	$57M
Deferred Income Tax	-$15M
Other Non-Cash Items	-$4M
Change in Working Capital	$366M
OPERATING CASH FLOW	$781M
Capital Expenditure	-$220M
Acquisitions (Net)	-$999.0K
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$1.2B
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$407M
Net Debt Issuance	$0
Common Stock Repurchased	-$90M
Common Dividends Paid	-$71M
Other Financing Activities	$86M
NET CASH FROM FINANCING	-$75M
FREE CASH FLOW	$562M
Net Change in Cash	$342M

Balance Sheet

Item	Amount
Cash & Equivalents	$983M
Short-Term Investments	$1.7B
Net Receivables	$3M
Inventory	$40M
Other Current Assets	$120M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$450M
Goodwill	$32M
Intangible Assets	$12M
Long-Term Investments	$433M
Tax Assets	$43M
Other Non-Current Assets	$65M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$4.0B
Account Payables	$40M
Short-Term Debt	$0
Deferred Revenue	$1.3B
Other Current Liabilities	$26M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$12M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$12M
TOTAL LIABILITIES	$1.8B
Common Stock	$2M
Additional Paid-In Capital	$129M
Retained Earnings	$1.4B
Treasury Stock	-$1.0K
Accum. Other Comp. Income	$508M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$17M
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$4.0B
Total Debt	$0
Net Debt	-$983M