TAL Education Group (TAL) Key Metrics
TAL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $6.66B
- Enterprise value
- $4.18B
- P/E (TTM)
- 7.5 10-yr median 69.9
- Forward P/E
- 9.5
- PEG ratio
- 2.79
- Price / sales
- 2.1 10-yr median 6.9
- Price / book
- 1.6 10-yr median 5.4
- EV / EBITDA
- 10.5 10-yr median 63.7
- Dividend yield
- —
- Beta
- 0.08
TAL key metrics, FY2017–FY2026
Fiscal year ended February 28, 2026 · U.S. dollarsTAL valuation Price multiples at each fiscal year-end price.
TAL returns How much profit the business earns on the capital it uses.
TAL per-share figures Results divided by the shares outstanding at year-end.
TAL financial health Debt, liquidity and how easily interest is covered.
TAL efficiency & capital use Working capital cycle and where the cash goes.
TAL valuation history
TAL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TAL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TAL cash returned to shareholders
TAL price vs earnings per share
TAL key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.03B | $7.87B | $8.89B | $4.44B | $1.81B | $46.89B | $32.01B | $21.17B | $22.02B | $8.15B |
| Enterprise value | −$820.3M | $4.59B | $5.83B | $1.42B | −$654.6M | $45.10B | $31.31B | $19.87B | $20.79B | $8.04B |
| P/E ratio | 3.8 | 93.1 | — | — | — | — | — | 57.7 | 110.3 | 69.9 |
| Price / sales | 0.7 | 3.5 | 6.0 | 4.4 | 0.4 | 10.4 | 9.8 | 8.3 | 12.8 | 7.8 |
| Price / book | 0.5 | 2.1 | 2.4 | 1.2 | 0.5 | 9.0 | 12.6 | 8.4 | 13.4 | 12.0 |
| Price / free cash flow | 4.0 | 27.6 | 48.1 | — | — | 66.1 | 47.9 | — | 39.5 | 28.3 |
| Price / operating cash flow | 3.4 | 19.8 | 29.0 | 603.2 | — | 49.1 | 37.4 | 108.9 | 32.1 | 22.7 |
| EV / sales | -0.3 | 2.0 | 3.9 | 1.4 | -0.1 | 10.0 | 9.6 | 7.8 | 12.1 | 7.7 |
| EV / EBITDA | — | 26.2 | 141.8 | — | — | — | 113.9 | 47.0 | 78.5 | 48.8 |
| EV / free cash flow | — | 16.1 | 31.5 | — | — | 63.6 | 46.9 | — | 37.3 | 27.9 |
| Earnings yield | 26.2% | 1.1% | −0.0% | −3.0% | −62.8% | −0.2% | −0.3% | 1.7% | 0.9% | 1.4% |
| Free cash flow yield | 25.1% | 3.6% | 2.1% | −2.3% | −65.4% | 1.5% | 2.1% | −0.8% | 2.5% | 3.5% |
| Dividend yield | — | — | — | — | 0.1% | — | 0.0% | 0.0% | 0.2% | 0.5% |
| Shareholder yield (dividends + buybacks) | 31.8% | 0.2% | 2.6% | 1.5% | 10.9% | 0.0% | 0.0% | 0.0% | 0.2% | 0.7% |
| Share price at fiscal year-end | $10.53 | $12.92 | $14.73 | $7.03 | $2.84 | $77.54 | $54.39 | $35.60 | $37.76 | $14.41 |
| Per share | ||||||||||
| Revenue per share | $15.65 | $3.69 | $2.47 | $1.61 | $6.89 | $7.46 | $5.56 | $4.30 | $2.96 | $1.84 |
| Earnings per share | $2.76 | $0.14 | −$0.01 | −$0.21 | −$1.78 | −$0.19 | −$0.19 | $0.62 | $0.34 | $0.21 |
| Operating cash flow per share | $3.13 | $0.65 | $0.51 | $0.01 | −$1.47 | $1.58 | $1.45 | $0.33 | $1.18 | $0.64 |
| Free cash flow per share | $2.64 | $0.47 | $0.31 | −$0.16 | −$1.86 | $1.17 | $1.13 | −$0.27 | $0.96 | $0.51 |
| Cash per share | $16.79 | $5.94 | $5.47 | $5.02 | $4.25 | $9.82 | $3.77 | $2.55 | $2.57 | $1.24 |
| Book value per share | $19.56 | $6.18 | $6.03 | $6.05 | $6.27 | $8.61 | $4.32 | $4.26 | $2.81 | $1.20 |
| Tangible book value per share | $18.11 | $5.88 | $5.71 | $5.74 | $5.93 | $7.39 | $3.23 | $3.43 | $2.24 | $0.66 |
| Dividends per share | — | — | — | — | $0.00 | — | $0.00 | $0.00 | $0.07 | $0.07 |
| Capex per share | $0.48 | $0.18 | $0.20 | $0.17 | $0.39 | $0.41 | $0.32 | $0.60 | $0.22 | $0.13 |
| Debt per share | $2.01 | $0.55 | $0.40 | $0.25 | $0.38 | $6.86 | $2.58 | $0.36 | $0.47 | $1.04 |
| Shares outstanding | 192.9M | 609.5M | 603.8M | 631.4M | 638.0M | 604.7M | 588.6M | 594.7M | 583.1M | 565.6M |
| Change in shares outstanding | −68.3% | +0.9% | −4.4% | −1.0% | +5.5% | +2.7% | −1.0% | +2.0% | +3.1% | +3.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.1% | 2.3% | −0.1% | −3.5% | −24.7% | −3.0% | −4.3% | 17.6% | 17.2% | 20.8% |
| Return on invested capital (ROIC) | 30.6% | −0.4% | −6.2% | −7.6% | −4.2% | −10.6% | 8.1% | 33.6% | 34.0% | 23.7% |
| Return on assets (ROA) | 9.3% | 1.6% | −0.1% | −2.8% | −13.2% | −1.3% | −2.4% | 10.8% | 8.2% | 8.1% |
| Return on tangible assets | 9.4% | 1.6% | −0.1% | −3.0% | −23.4% | −1.0% | −2.2% | 11.3% | 7.3% | 7.7% |
| Free cash flow margin | 16.9% | 12.7% | 12.4% | −10.1% | −27.0% | 15.7% | 20.4% | −6.3% | 32.3% | 27.7% |
| Income quality (OCF / net income) | 1.13 | 4.70 | — | — | — | — | — | 0.53 | 3.43 | 3.08 |
| Financial health | ||||||||||
| Total debt | $387.5M | $333.3M | $239.2M | $157.7M | $242.1M | $4.15B | $1.52B | $215.3M | $272.6M | $590.4M |
| Cash & short-term investments | $3.24B | $3.62B | $3.30B | $3.17B | $2.71B | $5.94B | $2.22B | $1.52B | $1.50B | $699.7M |
| Net debt | −$2.85B | −$3.29B | −$3.06B | −$3.01B | −$2.47B | −$1.79B | −$702.5M | −$1.30B | −$1.23B | −$109.3M |
| Debt / equity | 0.10 | 0.09 | 0.07 | 0.04 | 0.06 | 0.80 | 0.60 | 0.09 | 0.17 | 0.87 |
| Debt / assets | 0.07 | 0.06 | 0.05 | 0.03 | 0.05 | 0.34 | 0.27 | 0.06 | 0.09 | 0.32 |
| Net debt / EBITDA | −3.73 | −18.78 | −74.54 | — | — | — | −2.56 | −3.07 | −4.63 | −0.66 |
| Current ratio | 2.17 | 2.86 | 3.42 | 4.42 | 4.02 | 2.42 | 1.38 | 1.47 | 1.47 | 1.30 |
| Quick ratio | 2.09 | 2.79 | 3.36 | 4.37 | 4.00 | 2.41 | 1.37 | 1.47 | 1.46 | 1.30 |
| Interest coverage | — | — | — | -4.5 | -16.6 | -20.7 | 13.3 | 19.0 | 12.3 | 10.0 |
| Working capital | $2.08B | $2.69B | $2.62B | $2.68B | $2.73B | $4.78B | $689.2M | $562.0M | $528.6M | $201.9M |
| Invested capital | $922.6M | $481.4M | $574.6M | $807.1M | $1.54B | $3.41B | $1.84B | $1.23B | $414.1M | $569.5M |
| Tangible asset value | $3.49B | $3.58B | $3.45B | $3.63B | $3.78B | $4.47B | $1.90B | $2.04B | $1.31B | $373.6M |
| Net current asset value | $1.68B | $2.39B | $2.41B | $2.56B | $2.55B | $1.25B | −$531.3M | $541.1M | $247.9M | −$279.0M |
| Graham number | $34.86 | $4.39 | — | — | — | — | — | $7.68 | $4.65 | $2.36 |
| Graham net-net per share | $6.28 | $3.30 | $3.49 | $3.68 | $2.60 | −$1.54 | −$1.30 | $0.59 | $0.17 | −$0.79 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $1.4M | — | $0 | $0 | $41.2M | $41.2M |
| Share buybacks (net) | $646.5M | $13.1M | $233.6M | $66.4M | $196.3M | $9.9M | $0 | $0 | $0 | $19.5M |
| Dividend payout ratio | — | — | — | — | — | — | — | 0.0% | 20.6% | 35.3% |
| Dividends + buybacks / free cash flow | 126.7% | 4.6% | 126.3% | — | — | 1.4% | 0.0% | — | 7.4% | 21.0% |
| Capex / revenue | 3.1% | 5.0% | 8.1% | 10.9% | 5.6% | 5.4% | 5.7% | 13.9% | 7.4% | 6.8% |
| Capex / operating cash flow | 15.5% | 28.2% | 39.6% | 1,499.4% | — | 25.7% | 22.0% | 182.7% | 18.7% | 19.8% |
| Capex / depreciation | 1.22 | 2.15 | 4.06 | 2.71 | 1.30 | 1.49 | 1.59 | 4.00 | 2.17 | 2.12 |
| Stock-based compensation / revenue | 1.4% | 2.9% | 6.0% | 10.7% | 4.0% | 4.5% | 3.6% | 3.0% | 2.7% | 3.5% |
| SG&A / revenue | 46.0% | 53.7% | 59.9% | 68.6% | 52.7% | 62.0% | 50.4% | 41.6% | 36.4% | 37.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 11.4 | 15.1 | 15.4 | 12.6 | 2.1 | 2.8 | 5.2 | 4.9 | 2.3 | 1.1 |
| Days of inventory on hand | 33.6 | 30.1 | 28.6 | 25.5 | 5.0 | 5.7 | 4.2 | 2.0 | 1.7 | 1.2 |
| Days payables outstanding | 40.4 | 47.6 | 50.0 | 62.9 | 36.7 | 41.9 | 27.9 | 25.8 | 16.5 | 11.6 |
| Cash conversion cycle (days) | 4.6 | -2.3 | -6.0 | -24.7 | -29.5 | -33.4 | -18.5 | -18.8 | -12.5 | -9.3 |
| Receivables turnover | 31.97 | 24.12 | 23.73 | 28.87 | 170.92 | 131.55 | 70.47 | 74.67 | 157.57 | 337.81 |
| Payables turnover | 9.03 | 7.67 | 7.30 | 5.80 | 9.95 | 8.72 | 13.09 | 14.17 | 22.12 | 31.56 |
| Inventory turnover | 10.87 | 12.12 | 12.74 | 14.29 | 72.96 | 63.71 | 87.44 | 178.57 | 219.23 | 304.56 |
| Asset turnover | 0.53 | 0.43 | 0.31 | 0.21 | 0.51 | 0.51 | 0.70 | 0.75 | 0.71 | 0.72 |
| Average receivables | $94.5M | $93.3M | $62.8M | $35.2M | $25.7M | $34.3M | $46.4M | $34.3M | $10.9M | $3.1M |
| Average payables | $149.4M | $136.8M | $93.7M | $74.9M | $221.8M | $235.8M | $112.1M | $82.0M | $40.1M | $16.5M |
| Average inventory | $124.1M | $86.6M | $53.7M | $30.4M | $30.3M | $32.3M | $16.8M | $6.5M | $4.0M | $1.7M |
| Intangibles / total assets | 4.7% | 3.3% | 3.9% | 4.1% | 4.3% | 6.1% | 11.5% | 13.1% | 11.0% | 16.7% |
Computed from TAL's annual financial statements (latest annual report filed June 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TAL valuation and financial ratios
At the end of fiscal 2026 (February 28, 2026), TAL Education traded at 3.8 times earnings, against a 10-year median of 69.9. Based on the latest twelve months, the trailing P/E is 7.5 and the forward P/E is 9.5. TAL Education earned a return on equity of 14.1% and a return on invested capital of 30.6% in fiscal 2026. It ended the year with $387.5 million of debt and $3.2 billion in cash and short-term investments, a net cash position of $2.9 billion. It returned $646.5 million to shareholders: $0 in dividends and $646.5 million in share buybacks, 127% of free cash flow. The share count fell 65.9% from 565.6M to 192.9M over 9 years.
See the TAL income statement, the TAL chart for price history, or the TAL stock overview for the latest quote and news.
TAL key metrics FAQ
What is TAL Education's P/E ratio?
TAL Education's trailing P/E ratio is 7.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.5. At the end of fiscal 2026 it was 3.8, compared with a 10-year median of 69.9.
What is TAL Education's return on equity?
TAL Education's return on equity (ROE) was 14.1% in fiscal 2026: net income of $532.7 million on average shareholders' equity of $3.8 billion.
What is TAL Education's ROIC?
TAL Education's return on invested capital was 30.6% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does TAL Education have?
TAL Education had total debt of $387.5 million at the end of fiscal 2026, a debt-to-equity ratio of 0.10 and more cash than debt.
Does TAL Education buy back its shares?
Yes. TAL Education spent $646.5 million on net share repurchases in fiscal 2026 Shares outstanding changed −68.3% over the year, to 192.9M..
What is TAL Education's free cash flow yield?
TAL Education generated $510.2 million of free cash flow in fiscal 2026, a free cash flow yield of 25.1% on its market value at year-end ($2.0 billion).
What is TAL Education's current ratio?
TAL Education's current ratio was 2.17 at the end of fiscal 2026: current assets were 2.17 times current liabilities.