New Oriental Education & Technology Group Inc. (EDU)

EDU Cash Flow Statement

Financials in millions USD. Fiscal year is June - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 30, 2025	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Net Income	380.53	371.72	309.59	177.34	-1,188	334.41
Depreciation & Amortization	145.89	145.89	106.82	122.7	194.43	230.44
Other Amortization	-	-	-	0.22	0.47	0.55
Loss (Gain) From Sale of Assets	3.42	3.42	-	2.17	79.61	5.38
Asset Writedown & Restructuring Costs	60.3	60.3	-	-	435.66	65.56
Loss (Gain) From Sale of Investments	14.87	14.87	10.8	8.92	122.28	40.5
Loss (Gain) on Equity Investments	14.32	14.32	60.32	7.1	51.47	1.37
Stock-Based Compensation	59.93	59.93	122.46	89.79	132.97	68.88
Provision & Write-off of Bad Debts	0.64	0.64	-0.61	0.75	-0.08	3.11
Other Operating Activities	-14.74	-25.2	-5.6	24.15	44.43	-149.04
Change in Accounts Receivable	-16.95	-16.95	3.34	-3.87	-8.11	-4.63
Change in Inventory	12.43	12.43	-41.21	-21.9	1.82	3.75
Change in Accounts Payable	-23	-23	37.79	44.05	-15.12	12.81
Change in Unearned Revenue	163.82	163.82	468.2	469.34	-925.05	420.34
Change in Income Taxes	34.7	34.7	21.72	41.65	2.18	33.53
Change in Other Net Operating Assets	79.71	79.71	29.04	8.61	-209.68	63.12
Operating Cash Flow	915.87	896.59	1,123	971.01	-1,280	1,130
Operating Cash Flow Growth	-6.81%	-20.14%	15.62%	-	-	40.48%
Capital Expenditures	-241.94	-241.94	-249.39	-143.05	-150.74	-429.2
Sale of Property, Plant & Equipment	0.26	0.26	0.42	1.32	5.39	45.39
Cash Acquisitions	-	-	-	0.89	-	-12.7
Divestitures	-15.15	-15.15	-	-	-33.91	-
Sale (Purchase) of Intangibles	-17.27	-17.27	-34	2.11	4.99	-7.15
Investment in Securities	187.04	187.04	-869.57	103.7	1,378	-1,791
Other Investing Activities	-95.64	-6.37	-1.39	-2.39	-34.72	17.23
Investing Cash Flow	-182.69	-93.43	-1,154	-37.41	1,169	-2,178
Long-Term Debt Issued	-	-	-	-	-	297.08
Long-Term Debt Repaid	-	-	-0.24	-48.76	-222	-120
Net Debt Issued (Repaid)	-	-	-0.24	-48.76	-222	177.08
Issuance of Common Stock	12.95	12.95	3.93	12.88	0.18	1,485
Repurchase of Common Stock	-474.83	-474.83	-79.66	-193.8	-7.96	-16.17
Other Financing Activities	277.57	-24.9	-84.47	-17.18	-1.08	8.47
Financing Cash Flow	-282.5	-584.97	-160.44	-246.87	-230.86	1,654
Foreign Exchange Rate Adjustments	36.39	9.84	-24.61	-75.83	-94.82	106.17
Net Cash Flow	487.07	228.03	-216.32	610.9	-437.6	712.7
Free Cash Flow	673.93	654.65	873.25	827.96	-1,431	700.89
Free Cash Flow Growth	-8.11%	-25.03%	5.47%	-	-	41.62%
Free Cash Flow Margin	13.11%	13.36%	20.24%	27.62%	-46.09%	16.39%
Free Cash Flow Per Share	4.19	4.01	5.23	4.91	-8.44	4.24
Cash Interest Paid	0.31	0.31	0.36	0.8	5.05	4.22
Cash Income Tax Paid	147.55	147.55	109.15	55.2	53.05	144.38
Levered Free Cash Flow	707.57	488.72	673.92	609.57	-1,536	742.5
Unlevered Free Cash Flow	707.77	488.92	674.11	609.8	-1,534	746.16
Change in Working Capital	250.71	250.71	518.87	537.88	-1,154	528.92

Updated Jan 28, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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