New Oriental Education & Technology Group Inc. (EDU) Balance Sheet
EDU balance sheet, FY2026
May 31, 2026 · U.S. dollars$8.79B assets = $4.47B liabilities + $4.32B equity
Both columns are drawn to the same scale: what EDU owns equals what it owes plus shareholders’ equity. Hover a block for its value.
EDU financial health
Current ratio1.50
Adequate · current assets cover current liabilities 1.50×
Debt / equity0.21
Low leverage · $0.21 of debt for each $1 of equity
Equity / assets45.3%
Equity-funded · of assets funded by shareholders
Cash / debt623.4%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.6%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
EDU balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.92BFY2017 | $8.79BFY2026 | +13.0%/yr | |
| Total liabilities | $1.20BFY2017 | $4.47BFY2026 | +15.7%/yr | |
| Shareholders’ equity | $1.68BFY2017 | $3.99BFY2026 | +10.1%/yr | |
| Cash & short-term investments | $2.17BFY2017 | $5.29BFY2026 | +10.4%/yr | |
| Total debt | $293.9MFY2017 | $848.8MFY2026 | +12.5%/yr | |
| Net cash (debt) | $1.87BFY2017 | $4.44BFY2026 | +$2.6B | |
| Working capital | $1.12BFY2017 | $1.94BFY2026 | +$818.5M | |
| Book value per share | $10.64FY2017 | $25.17FY2026 | +10.0%/yr | |
| Current ratio | 1.93FY2017 | 1.50FY2026 | −0.43 | |
| Debt / equity | 0.17FY2017 | 0.21FY2026 | +0.04 | |
| Shares outstanding | 158.0MFY2017 | 158.4MFY2026 | +0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EDU assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
EDU liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
EDU debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
EDU balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $5.29B | $4.58B | $4.78B | $4.00B | $4.19B | $6.26B | $3.52B | $3.19B | $2.71B | $2.17B |
| Cash & equivalents | $2.00B | $1.61B | $1.39B | $1.66B | $1.15B | $1.61B | $915.1M | $1.41B | $983.3M | $641.0M |
| Short-term investments | $3.29B | $2.97B | $3.39B | $2.33B | $3.04B | $4.65B | $2.60B | $1.78B | $1.73B | $1.52B |
| Receivables | $44.7M | $189.9M | $193.8M | $136.8M | $125.5M | $118.5M | $4.2M | $3.3M | $3.2M | $3.3M |
| Inventory | $105.8M | $80.9M | $92.8M | $52.7M | $27.9M | $31.2M | $31.3M | $29.0M | $40.2M | $31.7M |
| Other current assets | $389.1M | $338.9M | $327.1M | $227.8M | $129.6M | $163.5M | $202.8M | $242.4M | $183.7M | $125.4M |
| Total current assets | $5.83B | $5.19B | $5.39B | $4.41B | $4.47B | $6.57B | $3.76B | $3.47B | $2.94B | $2.33B |
| Property, plant & equipment (net) | $1.73B | $1.56B | $1.16B | $799.3M | $933.8M | $2.72B | $2.10B | $532.0M | $449.6M | $282.8M |
| Goodwill & intangible assets | $54.3M | $111.8M | $127.1M | $134.0M | $77.2M | $92.1M | $96.6M | $100.0M | $44.1M | $21.8M |
| Long-term investments | $830.4M | $744.1M | $525.0M | $862.3M | $437.9M | $537.7M | $431.1M | $404.7M | $433.3M | $217.3M |
| Other non-current assets | $341.1M | $200.7M | $328.8M | $182.9M | $111.8M | $224.5M | $174.8M | $143.6M | $108.8M | $76.9M |
| Total assets | $8.79B | $7.81B | $7.53B | $6.39B | $6.03B | $10.15B | $6.56B | $4.65B | $3.98B | $2.92B |
| Liabilities | ||||||||||
| Accounts payable | $126.9M | $80.5M | $105.7M | $69.8M | $22.3M | $38.4M | $33.1M | $34.1M | $39.9M | $24.3M |
| Short-term debt | $285.0M | $256.0M | $199.9M | $155.8M | $168.6M | $514.0M | $384.2M | $0 | $82.3M | $293.9M |
| Deferred revenue | $2.24B | $1.96B | $1.79B | $1.36B | $955.5M | $1.94B | $1.34B | $1.32B | $1.28B | $875.3M |
| Total current liabilities | $3.89B | $3.29B | $3.00B | $2.25B | $1.71B | $3.47B | $2.48B | $2.01B | $1.75B | $1.20B |
| Long-term debt | $0 | $14.4M | $14.4M | $14.7M | $65.4M | $297.6M | $117.9M | $96.5M | $0 | $0 |
| Lease obligations | $848.8M | $789.4M | $647.9M | $443.9M | $615.0M | $1.86B | $1.46B | — | — | — |
| Other long-term liabilities | $577.9M | $547.5M | $467.4M | $312.0M | $465.6M | $1.36B | $1.09B | $18.8M | $12.1M | $2.2M |
| Total liabilities | $4.47B | $3.85B | $3.48B | $2.58B | $2.24B | $5.13B | $3.69B | $2.12B | $1.76B | $1.20B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.6M | $1.6M | $1.6M | $1.6M |
| Retained earnings (deficit) | $2.03B | $1.77B | $1.51B | $1.23B | $1.07B | $2.25B | $1.99B | $1.65B | $1.35B | $1.17B |
| Treasury stock | — | — | — | — | — | — | −$3,000 | −$10,000 | −$1,000 | −$7,000 |
| Accumulated other comprehensive income | — | $422.3M | $390.0M | $437.3M | $576.8M | $709.3M | $289.2M | $282.5M | $508.4M | $259.1M |
| Minority interest | $338.1M | $291.9M | $273.1M | $210.4M | — | — | — | — | — | — |
| Total shareholders' equity | $3.99B | $3.66B | $3.78B | $3.60B | $3.71B | $4.91B | $2.74B | $2.36B | $1.98B | $1.68B |
| Key figures | ||||||||||
| Total debt | $848.8M | $803.8M | $662.3M | $458.6M | $680.4M | $2.16B | $1.58B | $96.5M | $82.3M | $293.9M |
| Net cash (debt) | $4.44B | $3.77B | $4.11B | $3.54B | $3.51B | $4.10B | $1.94B | $3.10B | $2.63B | $1.87B |
| Working capital | $1.94B | $1.90B | $2.39B | $2.16B | $2.76B | $3.10B | $1.28B | $1.46B | $1.19B | $1.12B |
| Tangible book value | $3.93B | $3.55B | $3.65B | $3.47B | $3.63B | $4.82B | $2.64B | $2.26B | $1.94B | $1.66B |
| Book value per share | $25.17 | $22.61 | $22.62 | $21.38 | $21.84 | $29.74 | $17.16 | $14.84 | $12.50 | $10.64 |
| Shares outstanding | 158.4M | 162.0M | 166.9M | 168.6M | 169.6M | 165.2M | 159.5M | 159.0M | 158.6M | 158.0M |
| Current ratio | 1.50 | 1.58 | 1.80 | 1.96 | 2.62 | 1.89 | 1.52 | 1.73 | 1.68 | 1.93 |
| Quick ratio | 1.37 | 1.45 | 1.66 | 1.84 | 2.52 | 1.84 | 1.42 | 1.59 | 1.55 | 1.80 |
| Debt / equity | 0.21 | 0.22 | 0.18 | 0.13 | 0.18 | 0.44 | 0.58 | 0.04 | 0.04 | 0.17 |
| Equity / assets | 45.3% | 46.9% | 50.1% | 56.4% | 61.4% | 48.4% | 41.7% | 50.8% | 49.8% | 57.5% |
| May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | Aug '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $5.29B | $4.96B | $4.94B | $4.67B | $4.76B | $4.29B | $4.71B | $4.81B | $4.95B | $4.57B | $4.45B | $4.12B |
| Cash & equivalents | $2.00B | $1.94B | $1.84B | $1.28B | $1.79B | $1.42B | $1.42B | $1.15B | $1.57B | $2.01B | $1.94B | $1.75B |
| Short-term investments | $3.29B | $3.02B | $3.09B | $3.39B | $2.97B | $2.88B | $3.29B | $3.66B | $3.39B | $2.55B | $2.50B | $2.37B |
| Receivables | $44.7M | $42.6M | $42.9M | $42.5M | $40.2M | $39.3M | $41.1M | $39.1M | $193.8M | $40.0M | $40.8M | $43.8M |
| Inventory | $105.8M | $86.0M | $92.1M | $86.3M | $80.9M | $85.7M | $92.7M | $95.4M | $92.8M | $96.5M | $86.6M | $63.3M |
| Other current assets | $389.1M | $338.5M | $515.0M | $513.0M | $307.9M | $453.1M | $525.3M | $549.9M | $149.7M | $425.1M | $403.0M | $346.9M |
| Total current assets | $5.83B | $5.43B | $5.59B | $5.31B | $5.19B | $4.87B | $5.37B | $5.49B | $5.39B | $5.13B | $4.98B | $4.57B |
| Property, plant & equipment (net) | $1.73B | $1.64B | $1.58B | $1.60B | $1.56B | $1.45B | $1.43B | $1.41B | $1.16B | $1.02B | $904.4M | $828.7M |
| Goodwill & intangible assets | $54.3M | $55.1M | $110.2M | $111.1M | $56.9M | $122.1M | $124.1M | $123.4M | $127.1M | $127.9M | $130.3M | $130.0M |
| Long-term investments | $830.4M | $808.0M | $761.1M | $755.9M | $744.1M | $778.7M | $501.1M | $467.8M | $525.0M | $608.7M | $794.8M | $854.7M |
| Other non-current assets | $341.1M | $317.8M | $252.6M | $240.2M | $255.6M | $221.5M | $211.8M | $221.3M | $328.8M | $304.7M | $325.1M | $290.2M |
| Total assets | $8.79B | $8.24B | $8.29B | $8.01B | $7.81B | $7.45B | $7.63B | $7.71B | $7.53B | $7.19B | $7.13B | $6.67B |
| Liabilities | ||||||||||||
| Accounts payable | $126.9M | $108.5M | $94.5M | $85.2M | $80.5M | $85.6M | $92.1M | $102.0M | $105.7M | $138.5M | $108.9M | $76.6M |
| Short-term debt | $285.0M | $273.3M | $262.1M | $260.2M | $256.0M | $239.6M | $218.6M | $222.4M | $199.9M | $178.3M | $166.3M | $163.9M |
| Deferred revenue | $2.24B | $1.89B | $2.16B | $1.91B | $1.95B | $1.75B | $1.96B | $1.73B | $1.78B | $1.52B | $1.64B | $1.40B |
| Total current liabilities | $3.89B | $3.28B | $3.55B | $3.21B | $3.29B | $2.94B | $3.13B | $2.97B | $3.00B | $2.63B | $2.66B | $2.37B |
| Long-term debt | $0 | $0 | $0 | $0 | $14.4M | $14.4M | $14.4M | $14.4M | $14.4M | $14.4M | $14.4M | $14.4M |
| Lease obligations | $848.8M | $807.0M | $779.9M | $784.0M | $789.4M | $724.2M | $708.4M | $696.1M | $647.9M | $549.6M | $496.3M | $455.2M |
| Other long-term liabilities | $577.9M | $547.8M | $531.8M | $542.6M | $547.5M | $514.6M | $504.4M | $490.2M | $467.4M | $397.2M | $356.4M | $314.4M |
| Total liabilities | $4.47B | $3.83B | $4.09B | $3.75B | $3.85B | $3.47B | $3.65B | $3.47B | $3.48B | $3.04B | $3.04B | $2.70B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | $1.7M | — | — | — | $1.7M | $1.7M | $3.87B | $3.83B | $1.7M |
| Retained earnings (deficit) | $2.03B | — | — | $1.77B | $1.77B | — | — | $1.51B | $1.51B | $1.51B | — | $1.23B |
| Accumulated other comprehensive income | — | — | — | $422.3M | — | — | — | $390.0M | $390.0M | $390.0M | — | $437.3M |
| Minority interest | $338.1M | $331.8M | $318.7M | $305.7M | $291.9M | — | — | — | — | — | — | — |
| Total shareholders' equity | $3.99B | $4.09B | $3.89B | $3.95B | $3.66B | $3.69B | $3.70B | $3.97B | $3.78B | $3.87B | $3.83B | $3.74B |
| Key figures | ||||||||||||
| Total debt | $848.8M | $806.9M | $779.9M | $784.0M | $803.8M | $738.6M | $722.8M | $710.5M | $662.3M | $564.0M | $510.7M | $469.6M |
| Net cash (debt) | $4.44B | $4.15B | $4.16B | $3.88B | $3.95B | $3.56B | $3.99B | $4.10B | $4.29B | $4.00B | $3.94B | $3.65B |
| Working capital | $1.94B | $2.15B | $2.03B | $2.10B | $1.90B | $1.93B | $2.24B | $2.53B | $2.39B | $2.50B | $2.31B | $2.20B |
| Tangible book value | $3.93B | $4.03B | $3.78B | $3.84B | $3.60B | $3.56B | $3.58B | $3.85B | $3.65B | $3.75B | $3.70B | $3.61B |
| Book value per share | $25.19 | $25.60 | $24.22 | $24.73 | $23.06 | $22.69 | $22.30 | $23.92 | $22.59 | $23.17 | $22.94 | $22.45 |
| Shares outstanding | 158.3M | 159.6M | 160.5M | 159.9M | 158.8M | 162.5M | 165.9M | 165.9M | 167.1M | 167.2M | 167.0M | 166.5M |
| Current ratio | 1.50 | 1.66 | 1.57 | 1.65 | 1.58 | 1.66 | 1.71 | 1.85 | 1.80 | 1.95 | 1.87 | 1.93 |
| Quick ratio | 1.37 | 1.53 | 1.40 | 1.47 | 1.46 | 1.47 | 1.52 | 1.63 | 1.71 | 1.75 | 1.68 | 1.76 |
| Debt / equity | 0.21 | 0.20 | 0.20 | 0.20 | 0.22 | 0.20 | 0.20 | 0.18 | 0.18 | 0.15 | 0.13 | 0.13 |
| Equity / assets | 45.3% | 49.6% | 46.9% | 49.3% | 46.9% | 49.5% | 48.5% | 51.5% | 50.1% | 53.9% | 53.7% | 56.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed September 22, 2026); data from EODHD.
EDU financial position
At the end of fiscal 2026 (May 31, 2026), New Oriental Education & Technology had total assets of $8.8 billion (up 12.6% from a year earlier), total liabilities of $4.5 billion and shareholders' equity of $4.0 billion. It held $5.3 billion in cash and short-term investments against $848.8 million of debt, a net cash position of $4.4 billion. Its current ratio was 1.50.
Related: EDU income statement, EDU cash flow statement, EDU key metrics. See the EDU stock overview for the latest quote and news.
EDU balance sheet FAQ
What are New Oriental Education & Technology's total assets?
New Oriental Education & Technology reported total assets of $8.8 billion at the end of fiscal 2026 (May 31, 2026), compared with $7.8 billion a year earlier.
How much debt does New Oriental Education & Technology have?
New Oriental Education & Technology had $848.8 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.21.
How much cash does New Oriental Education & Technology have?
New Oriental Education & Technology held $5.3 billion in cash and short-term investments at the end of fiscal 2026; with $848.8 million of debt that is net cash of $4.4 billion.
What is New Oriental Education & Technology's book value?
New Oriental Education & Technology's shareholders' equity (book value) was $4.0 billion at the end of fiscal 2026, or $25.17 per share.
What is New Oriental Education & Technology's current ratio?
New Oriental Education & Technology had current assets of $5.8 billion and current liabilities of $3.9 billion, a current ratio of 1.50 (it can cover its short-term obligations).
How much goodwill does New Oriental Education & Technology have?
New Oriental Education & Technology carried $54.3 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2026.