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TAL Education Group

TAL Consumer Defensive Education & Training Services

TAL Education Group’s revenue for fiscal 2026 (year ended February 2026) was $3.0 billion, up 33.7% from fiscal 2025.

Revenue
+15.5%
EPS
−139.1%
Free cash flow
−208.2%

Quarter to August 2026, against a year earlier

10.17 0.26 +2.62%
Market cap
$3.4B
P/E
7.6×
Fwd P/E
9.5×
Dividend yield
—
F-score
8/9
Altman Z
2.77
Beneish M
−2.11
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.24
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — 1 — — — 1 — — —
Insider Ownership 39.48%

Capital & Financial Ratios $m

Size
Market Cap 3,400.00
Revenue ttm 3,325.58
Net income ttm 530.14
Free cash flow ttm 610.95
Net debt Q (2,940.36)
Valuation
P/E 7.62
Forward P/E 9.47
Price / sales 1.69
Forward P/S Powerpack
Price / FCF 27.31
Price / book 1.35
Financial health
Current ratio Q 1.84 (at or above 1.5: strong)
Debt / equity Q 0.01 (at or below 0.5: strong)
Interest coverage Q 1.52
Growth
Revenue growth Q +15.48% (above 0%: growing)
Operating income growth Q +145.44% (above 0%: growing)
EPS, this year +14.90%
EPS, next year A +22.66% (at or above 15%: strong)
Revenue, next year A +17.82% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +13.31%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 4.9×; over the ten years it ranged from −0.2× in 2021 to 12.6× in 2020.
P/E against its own 10 years 4.13%
10-year low 10-year high
P/S against its own 10 years 13.13%
10-year low 10-year high
P/B against its own 10 years 21.09%
10-year low 10-year high
EV/Sales against its own 10 years 13.15%
10-year low 10-year high
EV/FCF against its own 10 years 49.91%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–25
−100.0%/yr
  1. 0.99 ’16
  2. 0.00 ’18 −100
  3. 0.00 ’19
  4. 0.00 ’20
  5. 0.00 ’21
  6. 0.00 ’22
  7. 0.00 ’23
  8. 0.00 ’24
  9. 0.00 ’25
paid change on the year, %

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 3,471 3,806 3,467 2,970
Receivables 0 0 0 0
Inventory 68 105 143 254
Other — — — —
3,699 4,127 3,843 3,538
2024 2025 2026 Q'26
Payables 127 146 153 142
ST’ Debt — — — 30
Other 0 0 0 0
1,082 1,441 1,767 1,927

Compound Annual Growth %

10y 5y 3y
Sales 17.11% (7.72%) 43.43%
Cash Flow 12.35% (8.83%) 333.99%
Earnings 17.83% 0.00% 0.00%
Book Value 23.95% (6.22%) (0.41%)

Earnings Trends EPS, adjusted, against the consensus

Aug 2026 Estimate 0.01 Actual −0.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Nov 2025 0.06 0.25 Beat by 0.19
Feb 2026 0.22 0.45 Beat by 0.23
May 2026 0.16 0.75 Beat by 0.59
Aug 2026 0.01 −0.06 Miss by 0.07
Nov 2026 0.29 — Reports 4 February 2027

EPS $

May Aug Nov Feb Year
’26 0.73 (0.09) — — —
’26 0.05 0.21 0.23 0.44 0.92
’25 0.02 0.09 0.04 (0.01) 0.14
’24 (0.07) 0.06 (0.04) 0.04 (0.02)
’23 (0.07) 0.00 (0.08) (0.06) (0.21)
’22 (0.17) (1.31) (0.15) (0.17) (1.76)
’21 0.13 0.02 (0.07) (0.27) (0.19)
Fiscal quarters ending in the months shown.

Revenue $m

May Aug Nov Feb Year
’26 758 995 — — —
’26 575 861 770 802 3,009
’25 414 619 606 610 2,250
’24 275 412 374 430 1,490
’23 224 294 233 269 1,020
’22 1,385 1,444 1,021 541 4,391
’21 911 1,103 1,119 1,363 4,496
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

May Aug Nov Feb Year
’26 478 (179) — — —
’26 348 (58) 527 (215) 601
’25 247 (1) 378 (226) 398
’24 126 (43) 247 (24) 306
’23 (45) (3) 96 (41) 7
’22 — — — (939) (939)
’21 793 (56) 1,581 (627) 955
Fiscal quarters ending in the months shown.

Free Cash Flow $m

May Aug Nov Feb Year
’26 478 (179) — — —
’26 348 (58) 527 (307) 510
’25 247 (1) 378 (337) 286
’24 126 (43) 247 (134) 195
’23 — — — — 7
’23 (45) (3) 96 (131) (83)
’22 — — — — (939)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to February

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Aug ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 1,043 1,715 2,563 3,273 4,496 4,391 1,020 1,490 2,250 3,009 3,326 +12.5% 3,545 4,234 4,805 +16.9%
Gross margin, % 49.95 48.57 54.58 55.14 54.43 49.83 57.16 54.09 53.34 55.35 56.89 +5.4 pt
EBT 155 247 457 (51) (225) (778) (110) 17 132 685 1,074 +18.0%
EBT margin, % 14.86 14.40 17.83 (1.55) (5.00) (17.72) (10.78) 1.17 5.87 22.78 32.28 +7.9 pt
Net income 112 195 365 (128) (143) (1,164) (132) (4) 84 530 530 +18.8%
Per share, $
Per share, $ Revenue 2.14 3.27 5.53 5.50 9.05 8.38 1.97 2.44 3.71 5.26 6.03 +10.5%
Earnings 0.24 0.38 0.64 (0.19) (0.19) (1.76) (0.21) (0.02) 0.14 0.93 1.33 +16.5%
Cash flow 0.78 1.31 0.42 1.44 1.92 (1.79) 0.01 0.50 0.66 1.05 1.11 +3.4%
Capex 0.00 0.00 0.00 (0.30) 0.00 0.00 0.00 (0.18) (0.18) (0.16) 0.00 n/m
Free cash flow 0.78 1.31 0.42 1.13 1.92 (1.79) 0.01 0.32 0.47 0.89 1.11 +1.5%
Book value 1.32 3.09 5.36 4.27 10.47 7.69 7.41 5.96 6.21 6.60 7.56 +19.6%
Shares, m 488 525 570 595 611 644 638 611 606 572 558 +1.8%
Valuation, ×
Valuation, × P/E 64.98 94.29 54.62 0.00 0.00 0.00 0.00 0.00 92.29 11.12 7.62 31.7
P/S 7.14 10.92 7.89 10.55 10.84 0.42 4.63 6.03 3.48 2.01 1.69 6.4
P/B 10.94 11.41 7.99 13.57 9.37 0.47 1.24 2.47 2.08 1.60 1.35 6.1
EV/Sales 6.90 10.18 7.47 10.03 9.70 (0.31) 1.55 5.28 2.84 1.64 1.50 5.5
EV/FCF 15.59 17.09 17.90 27.07 43.84 1.64 (2.15) (21.62) (46.87) 25.13 24.19 7.8
Cash, $m
Cash, $m Operating cash flow 379 685 194 856 955 (939) 7 306 398 601 611 +5.3%
Capex (71) (128) (355) (181) (246) (246) (110) (112) (111) (92) (405) +2.9%
Free cash flow 379 685 194 675 955 (939) 7 195 286 510 611 +3.3%
Balance, $m
Balance, $m Working capital 204 529 562 689 4,783 2,726 2,684 2,617 2,686 2,076 1,611 +29.4%
Net debt (252) (1,269) (1,310) (1,680) (3,549) (3,222) (3,140) (3,471) (3,806) (3,467) (2,940) +33.8%
Shareholders’ equity 681 1,640 2,530 2,544 5,203 4,002 3,821 3,639 3,766 3,774 4,172 +21.0%
Returns, %
Returns, % ROA 0.00 0.00 0.00 (2.37) 0.00 0.00 0.00 (0.07) 1.62 9.28 12.15 +9.3 pt
ROIC 0.00 0.00 0.00 9.95 0.00 0.00 0.00 (25.79) 0.00 56.23 27.33 +56.2 pt
ROE 0.00 0.00 0.00 (4.34) 0.00 0.00 0.00 (0.10) 2.28 14.08 19.35 +14.1 pt
People
People Employees 20,240 28,637 34,733 45,271 34,733 16,200 11,700 15,000 23,000 26,100 — +2.9%
Revenue/emp, $m 0.00 0.00 0.00 0.07 0.00 0.00 0.00 0.10 0.10 0.12 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Feb 2026 · latest quarter Aug 2026 · fundamentals updated 2 Nov 2026

TAL Education Group vs peers in Education & Training Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LAUR Laureate Education $4.5B 12.1× 15.8× +21.20% (above 0%: growing) +220.83% (above 0%: growing) +2.65% (above 0%: growing) 27.15% 24.56% Compare
CVSA Covista Inc. $3.8B 15.2× 14.6× +10.65% (above 0%: growing) +16.14% (above 0%: growing) −33.25% (below 0%: shrinking) 56.84% 19.16% Compare
XXI Twenty One Capital, Inc. $3.5B — (loss-making) — — n/m −7,925,300.00% (below 0%: shrinking) — 0.00% Compare
TAL TAL Education Group $3.4B 7.6× 9.5× +15.48% (above 0%: growing) n/m −208.23% (below 0%: shrinking) 59.78% 23.71%
LOPE Grand Canyon Education, Inc. $3.2B 13.0× 16.3× +2.38% (above 0%: growing) +183.05% (above 0%: growing) +38.23% (above 0%: growing) 0.00% 19.25% Compare
LRN Stride, Inc. $3.2B 9.5× 9.7× +2.98% (above 0%: growing) −1.26% (below 0%: shrinking) +31.36% (above 0%: growing) 37.71% 13.18% Compare
MH McGraw Hill, Inc. $2.2B 29.6× 13.6× −5.53% (below 0%: shrinking) −21.05% (below 0%: shrinking) −56.14% (below 0%: shrinking) 79.16% 22.31% Compare
PRDO Perdoceo Education Corporation $1.7B 9.2× 10.1× +1.88% (above 0%: growing) +14.52% (above 0%: growing) +97.05% (above 0%: growing) 0.00% 25.52% Compare
STRA Strategic Education Inc. $1.3B 200× 8.8× +1.60% (above 0%: growing) n/m +15.56% (above 0%: growing) 49.66% (26.94%) Compare
Median of peers $3.2B 13.0× 13.6× +2.38% +15.33% +9.10% 37.71% 19.21%

All 44 Education & Training Services stocks →

TAL Education Group (TAL) Latest News

29 Oct

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5 Jun

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8 May

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24 Apr

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23 Apr

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25 Feb

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4 Feb

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TAL metrics, ten years each

stockrow.com/TAL · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com