EDU Q3 2020 Earnings Report — New Oriental Education & Technology Group Inc. Revenue & Financial Results | Market Cap Arena

New Oriental Education & Technology Group Inc.EDU

Q3 2020 Earnings

Reported April 22, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2020	Q2 2020	Q3 2019	QoQ Change	YoY Change
Revenue	$923M	$785M	$797M	17.6%	15.9%
Op. Income	$117M	$25M	$96M	363.5%	22.4%
Gross Margin	56.8%	54.3%	57.6%	2.5pp	-0.8pp
Net Margin	14.9%	6.8%	12.2%	8.1pp	2.7pp
EPS (Diluted)	$0.86	$0.34	$0.61	152.9%	41.0%
Free Cash Flow	$40M	$292M	$0	-86.4%	—

Revenue Flow

Item	Amount
REVENUE	$923M
Cost of Revenue	$399M
GROSS PROFIT	$525M
R&D Expenses	$0
Selling & Marketing	$118M
General & Administrative	$289M
SG&A Expenses	$407M
Other Expenses	$0
Operating Expenses	$407M
Cost & Expenses	$806M
OPERATING INCOME	$117M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$33M
INCOME BEFORE TAX	$150M
Income Tax Expense	$33M
Net Income from Continuing Ops	$117M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$138M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$138M
D&A	$29M
EBIT	$117M
EBITDA	$146M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$923M
Cost of Revenue	$399M
GROSS PROFIT	$525M
R&D Expenses	$0
Selling & Marketing	$118M
General & Administrative	$289M
SG&A Expenses	$407M
Other Expenses	$0
Operating Expenses	$407M
Cost & Expenses	$806M
OPERATING INCOME	$117M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$33M
INCOME BEFORE TAX	$150M
Income Tax Expense	$33M
Net Income from Continuing Ops	$117M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$138M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$138M
D&A	$29M
EBIT	$117M
EBITDA	$146M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$138M
Depreciation & Amortization	$0
Stock-Based Compensation	$18M
Deferred Income Tax	$0
Other Non-Cash Items	-$116M
Change in Working Capital	$0
OPERATING CASH FLOW	$40M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$33M
NET CASH FROM INVESTING	-$33M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$2M
FREE CASH FLOW	$40M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$2.5B
Net Receivables	$42M
Inventory	$33M
Other Current Assets	$43.0K
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$2.0B
Goodwill	$82M
Intangible Assets	$18M
Long-Term Investments	$473M
Tax Assets	$89M
Other Non-Current Assets	$121M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$6.6B
Account Payables	$38M
Short-Term Debt	$0
Deferred Revenue	$1.4B
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.6B
Long-Term Debt	$118M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$18M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$3.7B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$2.8B
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	$151M
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$1.5B
Net Debt	$488M