Saturday 17 October 2026 Export TAL’s income statement to Excel — free account

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. In the quarter to May 2026, revenue grew 31.9%, EPS grew 1,380.0% and free cash flow grew 37.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.

11.96 0.58 −4.63%

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Market cap: $4.2B
P/E: 7.3×
Fwd P/E: 12.0×
Dividend yield: —
F-score: 8/9
Altman Z: 2.77
Beneish M: −2.11
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.24

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	1	—	—	—	1	—	—

Insider Ownership 39.69%

Capital & Financial Ratios $m

Market Cap 4,190.00

Revenue 3,192.29

Net Income 530.14

Free Cash Flow 731.92

Net Debt (3,149.06)

Current Ratio 1.69

Debt/Equity 0.00

P/E ratio 7.29

Fwd P/E 12.00

P/S ratio 2.07

P/B ratio 1.62

Past 5Y EPS Growth —

This Y EPS Growth 43.02%

Next Y EPS Growth 22.66%

Next Y revenue growth 24.16%

Next 5Y EPS Growth 13.40%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 3.93%

10-year low 10-year high

P/S against its own 10 years 15.92%

10-year low 10-year high

P/B against its own 10 years 27.90%

10-year low 10-year high

EV/Sales against its own 10 years 19.69%

10-year low 10-year high

EV/FCF against its own 10 years 30.46%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack
2016	0.99	0.45 0.45 0.09

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	3,471	3,806	3,467	3,149
Receivables	0	0	0	0
Inventory	68	105	143	185
Other	—	—	—	—
	3,699	4,127	3,843	3,690

	2024	2025	2026	Q'26
Payables	127	146	153	139
ST’ Debt	—	—	—	—
Other	0	0	0	0
	1,082	1,441	1,767	2,181

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%)

Revenue $m

	May	Aug	Nov	Feb	Year
’26	758	—	—	—	—
’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	—	—	—	—
’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	—	—	—	—
’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.

EPS $

	May	Aug	Nov	Feb	Year
’26	0.73	—	—	—	—
’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	(0.01)
’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.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	11.70	21.08	24.66	44.24	3.40	1.60	5.09	7.35	8.50	8.88	Analyst estimates 2027–2029 Powerpack
	High	36.16	47.63	49.04	83.68	90.96	10.45	13.49	15.52	15.30	13.23
People
People	Employees	20,240	28,637	34,733	45,271	34,733	16,200	11,700	15,000	23,000	26,100
	Revenue/emp, $m	0.00	0.00	0.00	0.07	0.00	0.00	0.00	0.10	0.10	0.12
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
	Gross margin, %	49.95	48.57	54.58	55.14	54.43	49.83	57.16	54.09	53.34	55.35
	EBT	155	247	457	(51)	(225)	(778)	(110)	17	132	685
	EBT margin, %	14.86	14.40	17.83	(1.55)	(5.00)	(17.72)	(10.78)	1.17	5.87	22.78
	Net income	112	195	365	(128)	(143)	(1,164)	(132)	(4)	84	530
	Depreciation	34	59	89	118	165	190	41	30	52	77
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
	Earnings	0.24	0.38	0.64	(0.19)	(0.19)	(1.76)	(0.21)	(0.01)	0.14	0.93
	Cash flow	0.78	1.31	0.42	1.44	1.92	(1.79)	0.01	0.50	0.66	1.05
	Capex	0.00	0.00	0.00	(0.30)	0.00	0.00	0.00	(0.18)	(0.18)	(0.16)
	Free cash flow	0.78	1.31	0.42	1.13	1.92	(1.79)	0.01	0.32	0.47	0.89
	Book value	1.32	3.09	5.36	4.27	10.47	7.69	7.41	5.96	6.21	6.60
	Shares, m	488	525	570	595	611	644	638	611	606	572
Valuation, ×
Valuation, ×	P/E	64.98	94.29	54.62	0.00	0.00	0.00	0.00	0.00	92.29	11.12
	P/S	7.14	10.92	7.89	10.55	10.84	0.42	4.63	6.03	3.48	2.01
	P/B	10.94	11.41	7.99	13.57	9.37	0.47	1.24	2.47	2.08	1.60
	EV/Sales	6.90	10.18	7.47	10.03	9.70	(0.31)	1.55	5.28	2.84	1.64
	EV/FCF	15.59	17.09	17.90	27.07	43.84	1.64	(2.15)	(21.62)	(46.87)	25.13
Cash, $m
Cash, $m	Operating cash flow	379	685	194	856	955	(939)	7	306	398	601
	Capex	(71)	(128)	(355)	(181)	(246)	(246)	(110)	(112)	(111)	(92)
	Free cash flow	379	685	194	675	955	(939)	7	195	286	510
Balance, $m
Balance, $m	Working capital	204	529	562	689	4,783	2,726	2,684	2,617	2,686	2,076
	Total debt	450	236	215	567	4,147	242	158	—	—	—
	Net debt	(252)	(1,269)	(1,310)	(1,680)	(3,549)	(3,222)	(3,140)	(3,471)	(3,806)	(3,467)
	Shareholders’ equity	681	1,640	2,530	2,544	5,203	4,002	3,821	3,639	3,766	3,774
Returns, %
Returns, %	ROA	0.00	0.00	0.00	(2.37)	0.00	0.00	0.00	(0.07)	1.62	9.28
	ROIC	0.00	0.00	0.00	9.95	0.00	0.00	0.00	(25.79)	0.00	56.23
	ROE	0.00	0.00	0.00	(4.34)	0.00	0.00	0.00	(0.10)	2.28	14.08

Negative figures in brackets.

All 10 years →

Fiscal years to Feb 2026 · latest quarter May 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EDU New Oriental Education & Technology Group, Inc.	$8.4B	20.2×	11.4×	+23.04% (above 0%: growing)	+900.00% (above 0%: growing)	+72.87% (above 0%: growing)	53.10%	5.61%	Compare
LAUR Laureate Education	$5.4B	17.2×	15.8×	+17.50% (above 0%: growing)	+50.77% (above 0%: growing)	+37.68% (above 0%: growing)	38.59%	36.28%	Compare
GHC Graham Holdings Company	$5.1B	9.6×	15.5×	+7.13% (above 0%: growing)	+677.34% (above 0%: growing)	−58.54% (below 0%: shrinking)	30.10%	6.42%	Compare
CVSA Covista Inc.	$4.3B	17.7×	15.0×	+9.69% (above 0%: growing)	+40.67% (above 0%: growing)	+102.24% (above 0%: growing)	56.77%	19.04%	Compare
LOPE Grand Canyon Education, Inc.	$4.2B	19.4×	16.3×	+6.69% (above 0%: growing)	+18.24% (above 0%: growing)	−15.15% (below 0%: shrinking)	49.36%	22.02%	Compare
TAL TAL Education Group	$4.2B	7.3×	12.0×	+31.89% (above 0%: growing)	+1,380.00% (above 0%: growing)	+37.51% (above 0%: growing)	57.78%	18.09%
LRN Stride, Inc.	$3.5B	10.4×	13.4×	−2.69% (below 0%: shrinking)	+62.18% (above 0%: growing)	+3.70% (above 0%: growing)	34.16%	16.64%	Compare
MH McGraw Hill, Inc.	$2.7B	27.7×	15.6×	+2.65% (above 0%: growing)	+9,900.00% (above 0%: growing)	+57.50% (above 0%: growing)	79.87%	20.78%	Compare
PRDO Perdoceo Education Corporation	$2.1B	12.0×	11.7×	+1.80% (above 0%: growing)	+22.22% (above 0%: growing)	−3.87% (below 0%: shrinking)	76.15%	25.72%	Compare
Median of peers	$4.3B	17.5×	15.3×	+6.91%	+56.48%	+20.69%	51.23%	19.91%

All 46 Education & Training Services stocks →