Four Seasons Education (Cayman) Inc. (FEDU) Balance Sheet
FEDU balance sheet, FY2026
February 28, 2026 · Chinese yuanCN¥739.5M assets = CN¥224.7M liabilities + CN¥514.8M equity
Both columns are drawn to the same scale: what FEDU owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FEDU financial health
Current ratio1.85
Comfortable · current assets cover current liabilities 1.85×
Debt / equity0.23
Low leverage · CN¥0.23 of debt for each $1 of equity
Equity / assets64.0%
Equity-funded · of assets funded by shareholders
Cash / debt216.7%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.5%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
FEDU balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | CN¥296.1MFY2017 | CN¥739.5MFY2026 | +10.7%/yr | |
| Total liabilities | CN¥124.7MFY2017 | CN¥224.7MFY2026 | +6.8%/yr | |
| Shareholders’ equity | CN¥171.4MFY2017 | CN¥473.6MFY2026 | +12.0%/yr | |
| Cash & short-term investments | CN¥231.0MFY2017 | CN¥231.4MFY2026 | +0.0%/yr | |
| Total debt | CN¥420,000FY2017 | CN¥106.8MFY2026 | +85.0%/yr | |
| Net cash (debt) | CN¥230.5MFY2017 | CN¥124.6MFY2026 | −CN¥106.0M | |
| Working capital | CN¥157.9MFY2017 | CN¥115.9MFY2026 | −CN¥42.0M | |
| Current ratio | 2.27FY2017 | 1.85FY2026 | −0.42 | |
| Debt / equity | 0.00FY2017 | 0.23FY2026 | +0.22 | |
| Shares outstanding | 2.4MFY2017 | 224KFY2026 | −23.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FEDU assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
FEDU liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
FEDU debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FEDU balance sheet in Chinese yuan
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | CN¥231.4M | CN¥266.2M | CN¥296.0M | CN¥491.9M | CN¥508.4M | CN¥506.6M | CN¥596.5M | CN¥503.9M | CN¥583.3M | CN¥231.0M |
| Cash & equivalents | CN¥136.2M | CN¥210.8M | CN¥180.2M | CN¥175.7M | CN¥262.4M | CN¥410.0M | CN¥404.7M | CN¥471.2M | CN¥583.3M | CN¥231.0M |
| Short-term investments | CN¥95.2M | CN¥55.4M | CN¥115.8M | CN¥316.2M | CN¥246.0M | CN¥127.6M | CN¥191.8M | CN¥32.7M | CN¥0 | CN¥0 |
| Receivables | CN¥21.0M | CN¥30.3M | CN¥26.5M | CN¥19.3M | CN¥17.6M | CN¥10.9M | CN¥19.7M | CN¥23.3M | CN¥11.7M | CN¥45.4M |
| Inventory | CN¥0 | CN¥0 | −CN¥23.3M | CN¥1 | −CN¥261.5M | −CN¥138.1M | −CN¥200.3M | −CN¥55.4M | −CN¥6.0M | CN¥5.6M |
| Other current assets | CN¥0 | CN¥496,000 | CN¥23.3M | CN¥0 | CN¥261.5M | CN¥138.1M | CN¥200.3M | CN¥55.5M | CN¥6.0M | CN¥714,000 |
| Total current assets | CN¥252.3M | CN¥297.0M | CN¥322.6M | CN¥511.2M | CN¥526.0M | CN¥517.5M | CN¥616.2M | CN¥527.4M | CN¥595.0M | CN¥282.6M |
| Property, plant & equipment (net) | CN¥160.8M | CN¥165.4M | CN¥93.3M | CN¥43.4M | CN¥44.1M | CN¥166.5M | CN¥209.8M | CN¥27.0M | CN¥23.9M | CN¥7.4M |
| Goodwill & intangible assets | CN¥3.4M | CN¥2.6M | CN¥3.0M | CN¥2.5M | CN¥3.3M | CN¥44.1M | CN¥43.9M | CN¥193.7M | CN¥557,000 | CN¥557,000 |
| Long-term investments | CN¥188.9M | CN¥135.6M | CN¥130.8M | CN¥41.1M | CN¥14.0M | CN¥203.4M | CN¥105.7M | CN¥163.2M | CN¥158.2M | CN¥0 |
| Other non-current assets | CN¥134.1M | CN¥130.6M | CN¥124.5M | CN¥2.9M | CN¥15.2M | CN¥39.0M | CN¥61.9M | CN¥20.8M | CN¥14.5M | CN¥5.6M |
| Total assets | CN¥739.5M | CN¥731.1M | CN¥674.2M | CN¥601.0M | CN¥602.5M | CN¥970.5M | CN¥1.04B | CN¥932.1M | CN¥792.3M | CN¥296.1M |
| Liabilities | ||||||||||
| Accounts payable | CN¥3.0M | CN¥3.7M | CN¥75.2M | CN¥70.0M | — | CN¥73.1M | CN¥55.8M | CN¥0 | CN¥0 | CN¥0 |
| Short-term debt | CN¥18.5M | CN¥7.9M | CN¥1.7M | CN¥2.8M | CN¥3.9M | CN¥54.1M | CN¥51.8M | CN¥10.7M | CN¥390,000 | CN¥420,000 |
| Deferred revenue | CN¥30.1M | CN¥27.9M | CN¥18.0M | CN¥7.3M | CN¥6.5M | CN¥75.2M | CN¥71.9M | CN¥87.9M | CN¥90.1M | CN¥84.8M |
| Total current liabilities | CN¥136.5M | CN¥135.6M | CN¥106.8M | CN¥87.4M | CN¥93.6M | CN¥227.0M | CN¥213.0M | CN¥164.2M | CN¥134.3M | CN¥124.7M |
| Long-term debt | CN¥81.0M | CN¥82.1M | CN¥40.0M | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Lease obligations | CN¥16.8M | CN¥16.2M | CN¥2.4M | CN¥3.7M | CN¥8.9M | CN¥144.8M | CN¥199.4M | CN¥0 | CN¥0 | CN¥0 |
| Other long-term liabilities | CN¥7.3M | CN¥8.3M | CN¥1.2M | CN¥1.8M | CN¥6.5M | CN¥93.8M | CN¥149.6M | CN¥10.9M | CN¥0 | CN¥0 |
| Total liabilities | CN¥224.7M | CN¥226.0M | CN¥148.0M | CN¥89.2M | CN¥100.0M | CN¥320.8M | CN¥362.7M | CN¥175.1M | CN¥134.3M | CN¥124.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | CN¥15,000 | CN¥15,000 | CN¥14,000 | CN¥14,000 | CN¥14,000 | CN¥15,000 | CN¥15,000 | CN¥15,000 | CN¥15,000 | CN¥9,000 |
| Retained earnings (deficit) | −CN¥245.8M | −CN¥276.5M | −CN¥277.3M | −CN¥282.3M | −CN¥252.6M | −CN¥138.3M | −CN¥110.1M | −CN¥601,000 | CN¥0 | −CN¥12.9M |
| Treasury stock | — | — | — | — | — | — | −CN¥27.9M | CN¥0 | CN¥0 | CN¥0 |
| Accumulated other comprehensive income | CN¥15.4M | CN¥28.9M | CN¥25.1M | CN¥15.8M | −CN¥22.8M | −CN¥13.3M | CN¥26.1M | CN¥1.6M | −CN¥28.3M | CN¥6.5M |
| Minority interest | CN¥41.2M | CN¥50.5M | CN¥51.1M | CN¥54.2M | — | — | — | CN¥0 | CN¥0 | CN¥0 |
| Total shareholders' equity | CN¥473.6M | CN¥454.6M | CN¥475.0M | CN¥457.7M | CN¥445.9M | CN¥588.7M | CN¥630.8M | CN¥750.5M | CN¥651.5M | CN¥171.4M |
| Key figures | ||||||||||
| Total debt | CN¥106.8M | CN¥98.3M | CN¥42.9M | CN¥4.0M | CN¥9.7M | CN¥144.8M | CN¥199.4M | CN¥10.7M | CN¥390,000 | CN¥420,000 |
| Net cash (debt) | CN¥124.6M | CN¥167.9M | CN¥253.2M | CN¥487.9M | CN¥498.8M | CN¥361.7M | CN¥397.1M | CN¥493.2M | CN¥582.9M | CN¥230.5M |
| Working capital | CN¥115.9M | CN¥161.4M | CN¥215.8M | CN¥423.8M | CN¥432.4M | CN¥290.5M | CN¥403.2M | CN¥363.2M | CN¥460.7M | CN¥157.9M |
| Tangible book value | CN¥470.3M | CN¥452.1M | CN¥472.0M | CN¥455.3M | CN¥442.7M | CN¥544.6M | CN¥586.8M | CN¥556.8M | CN¥651.0M | CN¥170.9M |
| Shares outstanding | 224K | 212K | 236K | 225K | 225K | 231K | 237K | 241K | 257K | 2.4M |
| Current ratio | 1.85 | 2.19 | 3.02 | 5.85 | 5.62 | 2.28 | 2.89 | 3.21 | 4.43 | 2.27 |
| Quick ratio | 1.85 | 2.19 | 3.02 | 5.85 | 5.62 | 2.28 | 2.89 | 3.21 | 4.43 | 2.22 |
| Debt / equity | 0.23 | 0.22 | 0.09 | 0.01 | 0.02 | 0.25 | 0.32 | 0.01 | 0.00 | 0.00 |
| Equity / assets | 64.0% | 62.2% | 70.5% | 76.2% | 74.0% | 60.7% | 60.8% | 80.5% | 82.2% | 57.9% |
| 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 | CN¥231.4M | CN¥231.4M | CN¥231.4M | CN¥220.3M | CN¥220.3M | CN¥266.2M | CN¥266.2M | CN¥233.1M | CN¥233.1M | CN¥296.0M | CN¥296.0M | CN¥497.6M |
| Cash & equivalents | CN¥136.2M | CN¥136.2M | CN¥136.2M | CN¥87.9M | CN¥87.9M | CN¥210.8M | CN¥210.8M | CN¥156.1M | CN¥156.1M | CN¥180.2M | CN¥180.2M | CN¥221.2M |
| Short-term investments | CN¥95.2M | CN¥95.2M | CN¥95.2M | CN¥132.3M | CN¥132.3M | CN¥55.4M | CN¥55.4M | CN¥77.1M | CN¥77.1M | CN¥115.8M | CN¥115.8M | CN¥276.4M |
| Receivables | CN¥21.0M | CN¥3.2M | CN¥3.2M | CN¥35.6M | CN¥2.9M | CN¥2.0M | CN¥2.0M | CN¥5.5M | CN¥5.5M | CN¥3.2M | CN¥3.2M | CN¥25.2M |
| Inventory | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | −CN¥23.3M | CN¥0 | CN¥0 | −CN¥19.0M |
| Other current assets | CN¥0 | CN¥17.8M | CN¥17.8M | CN¥0 | CN¥32.7M | CN¥28.7M | CN¥28.7M | CN¥36.5M | CN¥59.8M | CN¥23.3M | CN¥23.3M | CN¥19.0M |
| Total current assets | CN¥252.3M | CN¥252.3M | CN¥252.3M | CN¥255.9M | CN¥255.9M | CN¥297.0M | CN¥297.0M | CN¥275.2M | CN¥275.2M | CN¥322.6M | CN¥322.6M | CN¥522.8M |
| Property, plant & equipment (net) | CN¥160.8M | CN¥160.8M | CN¥160.8M | CN¥159.3M | CN¥159.3M | CN¥165.4M | CN¥165.4M | CN¥160.2M | CN¥160.2M | CN¥93.3M | CN¥93.3M | CN¥53.8M |
| Goodwill & intangible assets | CN¥3.4M | CN¥3.4M | CN¥3.4M | CN¥3.7M | CN¥3.7M | CN¥2.6M | CN¥2.6M | CN¥2.8M | CN¥2.8M | CN¥3.0M | CN¥3.0M | CN¥3.2M |
| Long-term investments | CN¥0 | CN¥188.9M | CN¥0 | CN¥195.8M | CN¥0 | CN¥135.6M | CN¥0 | CN¥208.4M | CN¥0 | CN¥130.8M | CN¥0 | CN¥50.6M |
| Other non-current assets | CN¥323.0M | CN¥134.1M | CN¥323.0M | CN¥129.4M | CN¥325.2M | CN¥130.6M | CN¥266.2M | CN¥126.1M | CN¥334.5M | CN¥124.5M | CN¥255.3M | CN¥3.5M |
| Total assets | CN¥739.5M | CN¥739.5M | CN¥739.5M | CN¥744.1M | CN¥744.1M | CN¥731.1M | CN¥731.1M | CN¥772.7M | CN¥772.7M | CN¥674.2M | CN¥674.2M | CN¥634.0M |
| Liabilities | ||||||||||||
| Accounts payable | CN¥3.0M | CN¥3.0M | CN¥3.0M | CN¥3.8M | CN¥3.8M | CN¥3.7M | CN¥3.7M | CN¥2.9M | CN¥2.9M | CN¥0 | — | — |
| Short-term debt | CN¥18.5M | — | CN¥18.8M | CN¥10.7M | CN¥10.7M | — | CN¥8.2M | CN¥6.1M | CN¥6.1M | — | CN¥1.7M | CN¥1.8M |
| Deferred revenue | CN¥30.1M | — | — | CN¥30.2M | CN¥27.9M | — | — | — | CN¥18.0M | — | — | CN¥12.9M |
| Total current liabilities | CN¥136.5M | CN¥136.5M | CN¥136.5M | CN¥144.8M | CN¥144.8M | CN¥135.6M | CN¥135.6M | CN¥193.2M | CN¥193.2M | CN¥106.8M | CN¥106.8M | CN¥99.9M |
| Long-term debt | CN¥0 | CN¥81.0M | CN¥0 | CN¥78.4M | CN¥0 | CN¥82.1M | CN¥0 | CN¥68.0M | CN¥0 | CN¥40.0M | CN¥0 | CN¥0 |
| Lease obligations | — | CN¥16.8M | — | CN¥12.3M | — | CN¥16.2M | — | CN¥13.0M | — | CN¥2.4M | — | CN¥3.3M |
| Other long-term liabilities | CN¥88.3M | CN¥7.3M | CN¥88.3M | CN¥5.7M | CN¥84.1M | CN¥8.3M | CN¥90.4M | CN¥6.9M | CN¥74.9M | CN¥1.2M | CN¥41.2M | CN¥2.1M |
| Total liabilities | CN¥224.7M | CN¥224.7M | CN¥224.7M | CN¥228.9M | CN¥228.9M | CN¥226.0M | CN¥226.0M | CN¥268.1M | CN¥268.1M | CN¥148.0M | CN¥148.0M | CN¥102.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | CN¥15,000 | — | CN¥15,000 | — | CN¥515.2M | — | CN¥15,000 | CN¥504.6M | CN¥504.6M | — | CN¥14,000 | CN¥532.0M |
| Retained earnings (deficit) | −CN¥245.8M | −CN¥245.8M | −CN¥245.8M | — | −CN¥276.5M | −CN¥276.5M | −CN¥276.5M | — | −CN¥277.3M | −CN¥277.3M | −CN¥277.3M | — |
| Accumulated other comprehensive income | CN¥15.4M | — | CN¥15.4M | — | CN¥28.9M | — | CN¥28.9M | — | CN¥25.1M | — | CN¥25.1M | — |
| Minority interest | — | CN¥41.2M | — | — | — | CN¥50.5M | — | — | — | — | — | — |
| Total shareholders' equity | CN¥473.6M | CN¥473.6M | CN¥473.6M | CN¥464.7M | CN¥515.2M | CN¥454.6M | CN¥454.6M | CN¥504.6M | CN¥504.6M | CN¥475.0M | CN¥475.0M | CN¥477.8M |
| Key figures | ||||||||||||
| Total debt | CN¥106.8M | CN¥81.0M | CN¥107.1M | CN¥94.8M | CN¥94.8M | CN¥82.1M | CN¥98.6M | CN¥81.0M | CN¥81.0M | CN¥40.0M | CN¥42.9M | CN¥3.3M |
| Net cash (debt) | CN¥124.6M | CN¥150.4M | CN¥124.3M | CN¥125.5M | CN¥125.5M | CN¥184.1M | CN¥167.6M | CN¥152.1M | CN¥152.1M | CN¥256.0M | CN¥253.2M | CN¥494.3M |
| Working capital | CN¥115.9M | CN¥115.9M | CN¥115.9M | CN¥111.1M | CN¥111.1M | CN¥161.4M | CN¥161.4M | CN¥82.0M | CN¥82.0M | CN¥215.8M | CN¥215.8M | CN¥422.9M |
| Tangible book value | CN¥470.3M | CN¥470.3M | CN¥470.3M | CN¥461.0M | CN¥511.5M | CN¥452.1M | CN¥452.1M | CN¥501.8M | CN¥501.8M | CN¥472.0M | CN¥472.0M | CN¥474.6M |
| Shares outstanding | 2.3M | 22.6M | 230K | 228K | 228K | 22.6M | 224K | 212K | 212K | 2.1M | 211K | 212K |
| Current ratio | 1.85 | 1.85 | 1.85 | 1.77 | 1.77 | 2.19 | 2.19 | 1.42 | 1.42 | 3.02 | 3.02 | 5.23 |
| Quick ratio | 1.85 | 1.72 | 1.72 | 1.77 | 1.54 | 1.98 | 1.98 | 1.24 | 1.24 | 2.80 | 2.80 | 5.23 |
| Debt / equity | 0.23 | 0.17 | 0.23 | 0.20 | 0.18 | 0.18 | 0.22 | 0.16 | 0.16 | 0.08 | 0.09 | 0.01 |
| Equity / assets | 64.0% | 64.0% | 64.0% | 62.4% | 69.2% | 62.2% | 62.2% | 65.3% | 65.3% | 70.5% | 70.5% | 75.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed June 17, 2026); data from EODHD.
FEDU financial position
At the end of fiscal 2026 (February 28, 2026), Four Seasons Education had total assets of CN¥739.5 million (up 1.1% from a year earlier), total liabilities of CN¥224.7 million and shareholders' equity of CN¥473.6 million. It held CN¥231.4 million in cash and short-term investments against CN¥106.8 million of debt, a net cash position of CN¥124.6 million. Its current ratio was 1.85. In the latest quarter (ended May 31, 2026) total assets were CN¥739.5 million and equity CN¥473.6 million.
Related: FEDU income statement, FEDU cash flow statement, FEDU key metrics. See the FEDU stock overview for the latest quote and news.
FEDU balance sheet FAQ
What are Four Seasons Education's total assets?
Four Seasons Education reported total assets of CN¥739.5 million at the end of fiscal 2026 (February 28, 2026), compared with CN¥731.1 million a year earlier.
How much debt does Four Seasons Education have?
Four Seasons Education had CN¥106.8 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.23.
How much cash does Four Seasons Education have?
Four Seasons Education held CN¥231.4 million in cash and short-term investments at the end of fiscal 2026; with CN¥106.8 million of debt that is net cash of CN¥124.6 million.
What is Four Seasons Education's book value?
Four Seasons Education's shareholders' equity (book value) was CN¥473.6 million at the end of fiscal 2026.
What is Four Seasons Education's current ratio?
Four Seasons Education had current assets of CN¥252.3 million and current liabilities of CN¥136.5 million, a current ratio of 1.85 (it can cover its short-term obligations).
How much goodwill does Four Seasons Education have?
Four Seasons Education carried CN¥3.4 million of goodwill and intangible assets, 0.5% of total assets, at the end of fiscal 2026.