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Stocks · Consumer discretionary · Services-Educational Services

TAL Education Group

TAL Clue Score65
China CIK 0001499620
$12.86 +2.96% Close, 9 Oct 2026
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Price $12.86 +164.07% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue1.04Operating income0.13Net income0.12EPS, diluted0.66Fiscal year 2018Revenue1.72 +64.4%Operating income0.21Net income0.20 +69.8%EPS, diluted1.03 +56.1%Fiscal year 2019Revenue2.56 +49.4%Operating income0.34Net income0.37 +85.1%EPS, diluted1.83 +77.7%Fiscal year 2020Revenue3.27 +27.7%Operating income0.14Net income−0.11 −130.0%EPS, diluted−0.56 −130.6%Fiscal year 2021Revenue4.50 +37.3%Operating income−0.44Net income−0.12EPS, diluted−0.57Fiscal year 2022Revenue4.39 −2.3%Operating income−0.61Net income−1.14EPS, diluted−5.29Fiscal year 2023Revenue1.02 −76.8%Operating income−0.09Net income−0.14EPS, diluted−0.64Fiscal year 2024Revenue1.49 +46.2%Operating income−0.07Net income−0.00EPS, diluted−0.02Fiscal year 2025Revenue2.25 +51.0%Operating income−0.00Net income0.08EPS, diluted0.41Fiscal year 2026Revenue3.01 +33.7%Operating income0.28Net income0.53 +527.4%EPS, diluted2.75 +570.7%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 1.04 1.72 2.56 3.27 4.50 4.39 1.02 1.49 2.25 3.01
Growth +64.4% +49.4% +27.7% +37.3% −2.3% −76.8% +46.2% +51.0% +33.7%
Operating income 0.13 0.21 0.34 0.14 −0.44 −0.61 −0.09 −0.07 −0.00 0.28
Net income 0.12 0.20 0.37 −0.11 −0.12 −1.14 −0.14 −0.00 0.08 0.53
Growth +69.8% +85.1% −130.0% +527.4%
EPS, diluted 0.66 1.03 1.83 −0.56 −0.57 −5.29 −0.64 −0.02 0.41 2.75
Growth +56.1% +77.7% −130.6% +570.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin49.9%Operating margin12.9%Net margin11.2%Free cash flow margin29.5%Fiscal year 2018Gross margin48.6%Operating margin12.2%Net margin11.6%Free cash flow margin32.6%Fiscal year 2019Gross margin54.6%Operating margin13.3%Net margin14.3%Free cash flow margin2.2%Fiscal year 2020Gross margin55.1%Operating margin4.2%Net margin−3.4%Free cash flow margin20.7%Fiscal year 2021Gross margin54.4%Operating margin−9.7%Net margin−2.6%Free cash flow margin15.8%Fiscal year 2022Gross margin49.8%Operating margin−14.0%Net margin−25.9%Free cash flow margin−27.0%Fiscal year 2023Gross margin57.2%Operating margin−8.9%Net margin−13.3%Free cash flow margin−10.1%Fiscal year 2024Gross margin54.1%Operating margin−4.6%Net margin−0.2%Free cash flow margin13.0%Fiscal year 2025Gross margin53.3%Operating margin−0.1%Net margin3.8%Free cash flow margin12.7%Fiscal year 2026Gross margin55.4%Operating margin9.2%Net margin17.6%Free cash flow margin16.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 49.9% 48.6% 54.6% 55.1% 54.4% 49.8% 57.2% 54.1% 53.3% 55.4%
Operating margin 12.9% 12.2% 13.3% 4.2% −9.7% −14.0% −8.9% −4.6% −0.1% 9.2%
Net margin 11.2% 11.6% 14.3% −3.4% −2.6% −25.9% −13.3% −0.2% 3.8% 17.6%
Free cash flow margin 29.5% 32.6% 2.2% 20.7% 15.8% −27.0% −10.1% 13.0% 12.7% 16.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow0.38Capital expenditure−0.07Free cash flow0.31Dividends paid0.00Fiscal year 2018Operating cash flow0.69Capital expenditure−0.13Free cash flow0.56 +81.5%Dividends paid−0.04Fiscal year 2019Operating cash flow0.19Capital expenditure−0.14Free cash flow0.06 −90.0%Dividends paid0.00Fiscal year 2020Operating cash flow0.86Capital expenditure−0.18Free cash flow0.68 +1,111.3%Fiscal year 2021Operating cash flow0.95Capital expenditure−0.25Free cash flow0.71 +4.7%Buybacks−0.01Fiscal year 2022Operating cash flow−0.94Capital expenditure−0.25Free cash flow−1.19 −267.0%Buybacks−0.20Fiscal year 2023Operating cash flow0.01Capital expenditure−0.11Free cash flow−0.10Buybacks−0.07Fiscal year 2024Operating cash flow0.31Capital expenditure−0.11Free cash flow0.19Buybacks−0.23Fiscal year 2025Operating cash flow0.40Capital expenditure−0.11Free cash flow0.29 +48.0%Buybacks−0.01Fiscal year 2026Operating cash flow0.60Capital expenditure−0.09Free cash flow0.51 +77.6%Buybacks−0.64
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 0.38 0.69 0.19 0.86 0.95 −0.94 0.01 0.31 0.40 0.60
Capital expenditure −0.07 −0.13 −0.14 −0.18 −0.25 −0.25 −0.11 −0.11 −0.11 −0.09
Free cash flow 0.31 0.56 0.06 0.68 0.71 −1.19 −0.10 0.19 0.29 0.51
Growth +81.5% −90.0% +1,111.3% +4.7% −267.0% +48.0% +77.6%
Buybacks n/a n/a n/a n/a −0.01 −0.20 −0.07 −0.23 −0.01 −0.64
Dividends paid 0.00 −0.04 0.00 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.47Total debt0.23Net cash (debt)0.25Shareholders’ equity0.64Debt to equity0.35Fiscal year 2018Cash0.71Total debt0.23Net cash (debt)0.49Shareholders’ equity1.62Debt to equity0.14Fiscal year 2019Cash1.25Total debt0.00Net cash (debt)1.25Shareholders’ equity2.48Debt to equity0.00Fiscal year 2020Cash1.87Total debt0.26Net cash (debt)1.61Shareholders’ equity2.52Debt to equity0.10Fiscal year 2021Cash3.24Total debt0.27Net cash (debt)2.97Shareholders’ equity5.20Debt to equity0.05Fiscal year 2022Cash1.64Shareholders’ equity4.03Fiscal year 2023Cash2.02Shareholders’ equity3.84Fiscal year 2024Cash2.21Shareholders’ equity3.66Fiscal year 2025Cash1.77Shareholders’ equity3.77Fiscal year 2026Cash1.52Shareholders’ equity3.77
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 0.47 0.71 1.25 1.87 3.24 1.64 2.02 2.21 1.77 1.52
Total debt 0.23 0.23 0.00 0.26 0.27 n/a n/a n/a n/a n/a
Net cash (debt) 0.25 0.49 1.25 1.61 2.97 n/a n/a n/a n/a n/a
Shareholders’ equity 0.64 1.62 2.48 2.52 5.20 4.03 3.84 3.66 3.77 3.77
Debt to equity 0.35 0.14 0.00 0.10 0.05 n/a n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending February, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 28 Feb 2017 FY2018 28 Feb 2018 FY2019 28 Feb 2019 FY2020 29 Feb 2020 FY2021 28 Feb 2021 FY2022 28 Feb 2022 FY2023 28 Feb 2023 FY2024 29 Feb 2024 FY2025 28 Feb 2025 FY2026 28 Feb 2026
Revenue and profit
1.04 1.72 2.56 3.27 4.50 4.39 1.02 1.49 2.25 3.01
Growth +64.4% +49.4% +27.7% +37.3% −2.3% −76.8% +46.2% +51.0% +33.7%
0.52 0.88 1.16 1.47 2.05 2.20 0.44 0.68 1.05 1.34
0.52 0.83 1.40 1.80 2.45 2.19 0.58 0.81 1.20 1.67
Growth +59.9% +68.0% +29.0% +35.6% −10.6% −73.3% +38.2% +48.9% +38.8%
0.26 0.39 0.58 0.79 1.12 1.20 0.41 0.41 0.45 0.50
0.13 0.21 0.34 0.14 −0.44 −0.61 −0.09 −0.07 −0.00 0.28
Growth +55.0% +63.7% −59.8% −418.8%
0.15 0.25 0.46 −0.05 −0.22 −0.78 −0.11 0.02 0.13 0.69
0.03 0.04 0.08 0.07 −0.07 0.40 0.02 0.02 0.04 0.15
0.12 0.20 0.37 −0.11 −0.12 −1.14 −0.14 −0.00 0.08 0.53
Growth +69.8% +85.1% −130.0% +527.4%
Per share
0.72 1.13 1.93 −0.56 −0.57 −5.29 −0.64 −0.02 0.42 2.79
0.66 1.03 1.83 −0.56 −0.57 −5.29 −0.64 −0.02 0.41 2.75
Growth +56.1% +77.7% −130.6% +570.7%
162.5 175.0 190.0 198.2 203.6 214.8 212.6 203.3 202.0 190.4
188.5 194.3 200.2 198.2 203.6 214.8 212.6 203.3 205.2 192.9
Growth +3.1% +3.0% −1.0% +2.7% +5.5% −1.0% −4.4% +0.9% −6.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 7.7% a year over five years.
  • The diluted share count fell 5.2% in five years, so buybacks did some of the work per share.
  • Operating margin is up 18.9 points on five years ago, at 9.2%.
  • A net loss in 5 of 10 years on file.