TAL Q1 2019 Earnings Report — TAL Education Group Revenue & Financial Results | Market Cap Arena

TAL Education GroupTAL

Q1 2019 Earnings

Reported June 26, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$551M	—	$322M	—	71.1%
Op. Income	$70M	—	$28M	—	147.9%
Gross Margin	52.6%	—	47.3%	—	5.3pp
Net Margin	12.1%	—	8.9%	—	3.2pp
EPS (Diluted)	$0.98	—	$0.48	—	104.2%
Free Cash Flow	$0	—	$0	—	—

Revenue Flow

Item	Amount
REVENUE	$551M
Cost of Revenue	$261M
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$220M
Other Expenses	$0
Operating Expenses	$220M
Cost & Expenses	$481M
OPERATING INCOME	$70M
Interest Income	$17M
Interest Expense	$4M
Other Income/Expenses	$14M
INCOME BEFORE TAX	$84M
Income Tax Expense	$17M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$0
EBIT	$70M
EBITDA	$70M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$551M
Cost of Revenue	$261M
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$220M
Other Expenses	$0
Operating Expenses	$220M
Cost & Expenses	$481M
OPERATING INCOME	$70M
Interest Income	$17M
Interest Expense	$4M
Other Income/Expenses	$14M
INCOME BEFORE TAX	$84M
Income Tax Expense	$17M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$0
EBIT	$70M
EBITDA	$70M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$67M
Depreciation & Amortization	$0
Stock-Based Compensation	$15M
Deferred Income Tax	$0
Other Non-Cash Items	-$82M
Change in Working Capital	$0
OPERATING CASH FLOW	$0
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$0
FREE CASH FLOW	$0
Net Change in Cash	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$924M
Short-Term Investments	$1.0B
Net Receivables	$29M
Inventory	$5M
Other Current Assets	$2M
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$262M
Goodwill	$289M
Intangible Assets	$61M
Long-Term Investments	$776M
Tax Assets	$16M
Other Non-Current Assets	$182M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$3.8B
Account Payables	$64M
Short-Term Debt	$0
Deferred Revenue	$1.3B
Other Current Liabilities	$91M
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$235M
Deferred Revenue NC	$8M
Deferred Tax Liabilities	$7M
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$253M
TOTAL LIABILITIES	$2.0B
Common Stock	$190.0K
Additional Paid-In Capital	$901M
Retained Earnings	$640M
Treasury Stock	$0
Accum. Other Comp. Income	$258M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$20M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$235M
Net Debt	-$689M