TAL Education Group ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Feb 28, 2026 · FY), TAL Education Group ADR reported revenue of $3.0B (+33.7% year on year).
| Line item | Feb 28, 2026 · FY | Feb 28, 2025 · FY | Feb 29, 2024 · FY | Feb 28, 2023 · FY |
|---|---|---|---|---|
| Total net revenues | $3.0B | $2.3B | $1.5B | $1.0B |
| Cost of revenues | ($1.3B) | ($1.0B) | ($684.3M) | ($436.4M) |
| Gross profit | $1.7B | $1.2B | $806.1M | $583.4M |
| Selling and marketing | ($889.1M) | ($748.8M) | ($461.9M) | ($283.0M) |
| General and administrative | ($500.4M) | ($458.9M) | ($429.9M) | ($413.8M) |
| Total operating expenses | ($1.4B) | ($1.2B) | ($891.8M) | ($696.8M) |
| (Loss) / income from operations | $276.0M | ($3.2M) | ($69.2M) | ($90.7M) |
| Interest income, net | $62.0M | $83.5M | $84.9M | $61.6M |
| Other income, net | $390.2M | $64.7M | $48.8M | ($82.4M) |
| Impairment loss on long-term investments | ($42.8M) | ($12.9M) | ($47.0M) | ($7.7M) |
| Income before provision for income tax and loss from equity method investments | $685.4M | $132.1M | $17.5M | ($109.7M) |
| Income tax expenses | ($154.4M) | ($38.3M) | ($15.4M) | ($20.0M) |
| Loss from equity method investments | ($855.0K) | ($9.5M) | ($6.2M) | ($2.2M) |
| Net (loss) / income | $530.1M | $84.3M | ($4.1M) | ($132.0M) |
| Add: Net loss attributable to non-controlling interests shareholders | $613.0K | $331.0K | $565.0K | ($3.6M) |
| Net (loss) / income attributable to TAL Education Group's shareholders | $530.8M | $84.6M | ($3.6M) | ($135.6M) |
| Basic (in dollars per share) | $2.79 | $0.42 | -$0.02 | -$0.64 |
| Diluted (in dollars per share) | $2.75 | $0.41 | -$0.02 | -$0.64 |
| Basic (in shares) | 190.4M | 202.0M | 203.3M | 212.6M |
| Diluted (in shares) | 192.9M | 205.2M | 203.3M | 212.6M |
| Line item | Feb 28, 2026 · FY | Feb 28, 2025 · FY | Feb 29, 2024 · FY | Feb 28, 2023 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.5B | $1.8B | $2.2B | $2.0B |
| Restricted cash, current | $227.6M | $187.8M | $167.7M | $126.9M |
| Short-term investments | $1.7B | $1.8B | $1.1B | $1.1B |
| Inventories, net | $143.3M | $104.9M | $68.3M | $39.0M |
| Amounts due from related parties, current | $46.0K | $37.0K | $343.0K | $423.0K |
| Prepaid expenses and other current assets | $232.9M | $215.8M | $159.5M | $125.5M |
| Total current assets | $3.8B | $4.1B | $3.7B | $3.5B |
| Restricted cash, non-current | $34.6M | $32.6M | $81.1M | $146.1M |
| Property and equipment, net | $500.7M | $472.4M | $405.3M | $288.9M |
| Deferred tax assets | $3.2M | $3.5M | $4.6M | $6.0M |
| Rental deposits | $28.1M | $22.1M | $16.9M | $12.7M |
| Intangible assets, net | $46.0M | — | $2.0M | $485.0K |
| Land use rights, net | $189.8M | $182.9M | $189.0M | $193.9M |
| Goodwill | $45.5M | — | — | — |
| Long-term investments (including available-for-sale investments of $139,002 and $82,386 as of February 28, 2025 and 2026, respectively) | $828.2M | $305.1M | $284.3M | $453.4M |
| Amounts due from related parties, non-current | $134.0K | $96.0K | $59.0K | — |
| Long-term prepayments and other non-current assets | $37.2M | $28.4M | $14.4M | $5.5M |
| Operating lease right-of-use assets | $379.7M | $329.1M | $231.1M | $149.0M |
| Total assets | $5.9B | $5.5B | $4.9B | $4.7B |
| Accounts payable (including accounts payable of the consolidated VIEs without recourse to TAL Education Group of $108,578 and $93,047 as of February 28, 2025 and 2026, respectively) | $152.5M | $146.3M | $127.3M | $60.0M |
| Deferred revenue, current (including deferred revenue, current, of the consolidated VIEs without recourse to TAL Education Group of $531,655 and $686,406 as of February 28, 2025 and 2026, respectively) | $832.8M | $624.3M | $400.3M | $234.9M |
| Amounts due to related parties, current | $97.0K | $93.0K | $96.0K | — |
| Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to TAL Education Group of $442,731 and $514,616 as of February 28, 2025 and 2026, respectively) | $672.3M | $582.2M | $491.9M | $446.7M |
| Operating lease liabilities, current (including operating lease liabilities, current, of the consolidated VIEs without recourse to TAL Education Group of $78,486 and $97,564 as of February 28, 2025 and 2026, respectively) | $109.4M | $88.5M | $62.6M | $42.2M |
| Total current liabilities | $1.8B | $1.4B | $1.1B | $783.9M |
| Deferred revenue, non-current (including deferred revenue, non-current, of the consolidated VIEs without recourse to TAL Education Group of $19,995 and $14,610 as of February 28, 2025 and 2026, respectively) | $49.4M | $47.0M | $28.0M | $2.5M |
| Deferred tax liabilities (including deferred tax liabilities of the consolidated VIEs without recourse to TAL Education Group of $3,395 and $67,088 as of February 28, 2025 and 2026, respectively) | $68.0M | $3.5M | $2.4M | $1.6M |
| Operating lease liabilities, non-current (including operating lease liabilities, non-current, of the consolidated VIEs without recourse to TAL Education Group of $169,991 and $192,058 as of February 28, 2025 and 2026, respectively) | $278.1M | $244.9M | $176.6M | $115.5M |
| Total liabilities | $2.2B | $1.7B | $1.3B | $903.4M |
| Common shares | 205.0K | 203.0K | 201.0K | 218.0K |
| Treasury stock | ($20.0K) | — | — | ($6.0K) |
| Additional paid-in capital | $3.7B | $4.3B | $4.3B | $4.4B |
| Statutory reserve | $216.6M | $179.5M | $165.1M | $160.4M |
| Accumulated deficit | ($130.4M) | ($624.1M) | ($694.3M) | ($685.9M) |
| Accumulated other comprehensive loss | ($6.4M) | ($83.9M) | ($65.9M) | ($30.7M) |
| Total TAL Education Group shareholders' equity | $3.8B | $3.8B | $3.7B | $3.8B |
| Non-controlling interests | ($751.0K) | ($169.0K) | ($23.3M) | ($23.7M) |
| Total equity | $3.8B | $3.8B | $3.6B | $3.8B |
| Total liabilities and equity | $5.9B | $5.5B | $4.9B | $4.7B |
| Line item | Feb 28, 2026 · FY | Feb 28, 2025 · FY | Feb 29, 2024 · FY | Feb 28, 2023 · FY |
|---|---|---|---|---|
| Net (loss) / income | $530.1M | $84.3M | ($4.1M) | ($132.0M) |
| Depreciation of property and equipment | $68.6M | $45.8M | $23.7M | $35.3M |
| Amortization of intangible assets | $3.8M | $2.3M | $1.4M | $1.2M |
| Amortization of land use rights | $4.3M | $4.2M | $4.8M | $4.3M |
| Gain on disposal of property and equipment | ($1.2M) | ($395.0K) | ($1.6M) | $546.0K |
| Share-based compensation | $43.1M | $64.9M | $88.9M | $108.6M |
| Impairment loss on long-lived assets | $20.0M | — | — | — |
| Inventories provision and others | $37.7M | — | — | — |
| Impairment loss on long-term investments | $42.8M | $12.9M | $47.0M | $7.7M |
| Loss from equity method investments | $855.0K | $9.5M | $6.2M | $2.2M |
| Gain from fair value change of investments | ($412.4M) | ($42.5M) | ($21.7M) | $68.5M |
| Gain from disposal of long-term investments | ($10.0K) | ($1.1M) | ($17.8M) | ($7.4M) |
| Inventories | ($89.2M) | ($54.1M) | ($34.8M) | ($20.4M) |
| Amounts due from related parties | ($40.0K) | $264.0K | $6.0K | $210.0K |
| Prepaid expenses and other current assets | ($27.6M) | ($70.6M) | ($50.2M) | ($12.0M) |
| Deferred income taxes | $65.8M | $1.3M | $1.3M | $400.0K |
| Rental deposits | ($4.1M) | ($545.0K) | $10.3M | $12.7M |
| Other non-current assets | ($9.1M) | ($12.9M) | ($9.4M) | ($3.1M) |
| Accounts payable | $23.5M | $18.2M | $24.4M | ($2.9M) |
| Deferred revenue | $211.0M | $242.9M | $190.9M | $54.1M |
| Amounts due to related parties | $4.0K | ($3.0K) | ($4.0K) | ($105.0K) |
| Accrued expenses and other current liabilities | $90.1M | $90.3M | $45.9M | ($109.8M) |
| Operating lease right-of-use assets | ($50.7M) | ($98.0M) | ($82.1M) | $76.4M |
| Operating lease liabilities | $54.1M | $94.1M | $81.5M | ($82.6M) |
| Net cash provided by operating activities | $601.5M | $397.9M | $306.2M | $7.4M |
| Repayment of loan to employees | $66.0K | $239.0K | $382.0K | $1.5M |
| Purchase of property and equipment | ($93.2M) | ($111.7M) | ($112.7M) | ($110.3M) |
| Purchase of intangible assets | ($385.0K) | ($531.0K) | ($1.5M) | — |
| Purchase of short-term investments | ($2.0B) | ($2.1B) | ($670.6M) | ($1.7B) |
| Proceeds from short-term investments | $2.4B | $1.4B | $992.6M | $1.6B |
| Proceeds from disposal of property and equipment | $1.6M | $1.0M | $2.7M | $20.0M |
| Business acquisitions, net of cash acquired | ($95.5M) | $80.0K | — | ($250.0K) |
| Purchase of long-term investments | ($406.8M) | ($101.8M) | ($194.2M) | ($200.7M) |
| Proceeds from disposal of long-term investments and a subsidiary | $6.9M | $21.0M | $75.6M | $42.3M |
| Net cash provided by / (used in) investing activities | ($175.7M) | ($847.0M) | $95.1M | ($301.6M) |
| Proceeds from exercise of share options | $573.0K | $407.0K | $462.0K | $184.0K |
| Share repurchase | ($644.1M) | ($13.1M) | ($233.6M) | ($66.4M) |
| Net cash used in financing activities | ($643.5M) | ($13.2M) | ($233.1M) | ($66.2M) |
| Effect of exchange rate changes | $12.1M | ($3.5M) | ($5.6M) | ($26.4M) |
| Net increase / (decrease) in cash, cash equivalents and restricted cash | ($205.7M) | ($465.7M) | $162.6M | ($386.9M) |
| Cash, cash equivalents and restricted cash at the beginning of year | $2.0B | $2.5B | $2.3B | $2.7B |
| Cash, cash equivalents and restricted cash at the end of year | $1.8B | $2.0B | $2.5B | $2.3B |
| Income tax paid | $72.4M | $18.9M | $2.5M | $5.6M |
| Payable for purchase of property and equipment | $44.8M | $52.3M | $56.9M | $15.5M |
TAL Education Group ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.