New Oriental (ADR)
Provides education and test preparation, study-abroad consulting, and private-label products through livestreaming commerce in China.
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Profile
Offers private educational services and test-preparation courses, overseas-study consulting, and private-label products sold through livestreaming e-commerce. The China-focused business was reshaped after 2021 rules ended K–9 academic after-school tutoring.
Provides private educational services in China, including educational services and test-preparation courses, overseas-study consulting, and private-label products sold through livestreaming e-commerce. Its education roots trace to a Beijing TOEFL-preparation school founded in 1993, while the current offering reaches students across China.
The online-education business reacquired from East Buy is recorded primarily under test-preparation courses. Substantially all business is conducted in China through contractual arrangements with variable-interest entities and related schools and subsidiaries.
China’s 2021 restrictions on for-profit tutoring in school-curriculum subjects caused K–9 Academic AST Services to stop by year-end. The business mix was reshaped by that regulatory boundary.
Company facts
Categories
Key statistics
Year to date +1.7% · Average volume (30d) 840.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | New Street | Target | $65 | $56.50 | ||
| Jul 30, 2026 | Macquarie | Upgrade | Outperform | Neutral | ||
| Jun 12, 2026 | Goldman Sachs | Upgrade | Neutral | Buy | ||
| Jun 11, 2026 | New Street | Target | $68 | $65 | ||
| Jan 28, 2026 | New Street | Target | $36.60 | $68 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q4 FY26 | $0.60 | $0.55 | −8.3% | $1.46B | $1.53B | +4.5% | −3.41% |
| Apr 22, 2026Q3 FY26 | $0.85 | $0.95 | +12.4% | $1.36B | $1.42B | +4.1% | −5.97% |
| Jan 28, 2026Q2 FY26 | $0.34 | $0.45 | +32.4% | $1.16B | $1.19B | +2.6% | +0.87% |
| Oct 28, 2025Q1 FY26 | $1.74 | $1.61 | −7.5% | $1.16B | $1.52B | +31.4% | −1.30% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.18B | $1.24B | $1.52B | $1.19B | $1.42B | $1.53B | |
| Gross profit | $651.5M | $673.3M | $885.2M | $635.9M | $761.2M | $813.3M | |
| Operating income | $124.5M | −$8.7M | $311.4M | $66.4M | $180.3M | $85.9M | |
| Net income | $87.3M | $7.1M | $241.1M | $45.5M | $126.8M | $62.3M | |
| Diluted EPS | $0.54 | $0.05 | $1.50 | $0.28 | $0.80 | $0.39 | |
| Gross margin | 55.1% | 54.2% | 58.1% | 53.3% | 53.7% | 53.1% | |
| Operating margin | 10.5% | -0.7% | 20.4% | 5.6% | 12.7% | 5.6% |
Fiscal years (4-quarter sums)FY22 $3.11B · FY23 $3.00B · FY24 $4.31B · FY25 $4.90B · FY26 $5.67B
Revenue by product · FY25
Balance sheet, May 31, 2026Cash & short-term investments $5.29B · Total debt $848.8M · Total assets $8.79B · Shareholders' equity $3.99B
Dividends
Last raised to $0.60 from $0.58 split-adjusted in Nov 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 15, 2026 | May 15 | Jun 5 | $0.60 | |
| Nov 18, 2025 | Nov 18 | Dec 5 | $0.60 | raised from $0.58 split-adjusted |
| Sep 9, 2024 | Sep 9 | Sep 26 | $0.60 |
Ownership
Shares outstanding 157.85M · Float —
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| First Beijing Investment Ltd | 9.00M | 5.70% | 13F | May 13, 2026 |
| Invesco Ltd. | 4.86M | 3.08% | 13F | May 12, 2026 |
| Aspex Management (HK) Ltd | 4.53M | 2.87% | 13F | May 15, 2026 |
| Renaissance Technologies LLC | 2.95M | 1.87% | 13F | May 14, 2026 |
| Morgan Stanley | 2.14M | 1.36% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Chenggang Zhou | director | −56,948 | $56.83 |
| Aug 7, 2026 | Chenggang Zhou | director | −13,052 | $56.32 |
| Aug 3, 2026 | Yue Zhuge | director | −1,600 | $59.55 |
| Jul 31, 2026 | Yue Zhuge | director | −570 | $58.99 |
Peers
- Education Group (TAL) (ADR)
Learning services and content solutions for China education users
- Gaotu Techedu (ADR)
AI-powered education solutions for China's lifelong-learning market
- Youdao (ADR)
Learning services and smart devices for China education users
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| New Oriental (ADR) | $58.83 | +0.07% | $9.29B | 19.8 | 15.2 | 1.6 | +23.0% |
| Education Group (TAL) (ADR) | $11.91 | −0.25% | $7.27B | 2.5 | 13.4 | 2.3 | +31.5% |
| Gaotu Techedu (ADR) | $1.87 | −0.80% | $682.0M | — | — | 0.7 | −81.2% |
| Youdao (ADR) | $16.65 | −0.60% | $1.97B | 84.1 | 56.8 | 2.2 | +9.2% |
| Median | 43.3 | 35.1 | 2.2 | +9.2% |