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New Oriental Education & Technology Group Balance Sheet 2025-2008 | EDU
Brief overview of New Oriental Education & Technology Group 's balance sheet structure
The review uses the five latest available annual reports between 2020 and 2025.
Assets increased from $6.6 billion to $7.8 billion, or +19%; CAGR of about 3.5% indicates steady balance sheet expansion.
Liability growth of +4.5% trailed asset growth of +19%. The funding structure became more resilient.
The equity ratio is 46.9% versus 43.8% five periods ago. Capitalization remains workable.
Net debt moved below zero to -$1.3 billion, reflecting surplus cash over debt.
The cash share moved from 14% to 20.7%. A higher figure generally provides more room in an adverse scenario.
Retained earnings reached $1.8 billion, changing -10.9% over the period. A positive accumulated result supports equity.
Overall assessment
New Oriental Education & Technology Group has a solid balance sheet cushion. Capital and liquidity support development without excessive reliance on debt.
Annual Balance Sheet New Oriental Education & Technology Group
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-1.34 B | -1.18 B | - | -915 M | -801 M | -417 M | 460 M | -983 M | -641 M | -709 M | -531 M | -372 M | -417 M | -428 M | -317 M | - | - | - |
Long Term Debt |
14.4 M | 14.4 M | - | 65.4 M | 298 M | 118 M | 96.5 M | - | - | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
256 M | 200 M | - | 169 M | 514 M | 384 M | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 115 M | 219 M | 2.22 M | 1.98 M | 2.46 M | 1.72 M | 6.35 M | 112 K | 1.15 M | - | - | - |
Total Current Liabilities |
3.29 B | 3 B | - | 1.71 B | 3.47 B | 2.48 B | 2.01 B | 1.75 B | 1.2 B | 918 M | 725 M | 576 M | 490 M | 438 M | 288 M | 169 M | - | - |
Total Liabilities |
3.85 B | 3.48 B | - | 2.24 B | 5.13 B | 3.69 B | 2.12 B | 1.97 B | 1.2 B | 920 M | 728 M | 578 M | 496 M | 438 M | 289 M | 169 M | - | - |
Deferred Revenue |
1.95 B | 1.78 B | - | 933 M | 1.93 B | 1.34 B | 1.32 B | 1.28 B | 875 M | 653 M | 511 M | 394 M | 342 M | 269 M | 194 M | 107 M | - | - |
Retained Earnings |
1.77 B | 1.51 B | - | 1.07 B | 2.25 B | 1.99 B | 1.65 B | 1.35 B | 1.17 B | 932 M | 824 M | 655 M | 501 M | 387 M | 323 M | 225 M | - | - |
Total Assets |
7.81 B | 7.53 B | 6.39 B | 6.03 B | 10.2 B | 6.56 B | 4.65 B | 3.98 B | 2.92 B | 2.35 B | 1.95 B | 1.6 B | 1.35 B | 1.13 B | 863 M | 596 M | - | - |
Cash and Cash Equivalents |
1.61 B | 1.39 B | 1.81 B | 1.15 B | 1.61 B | 919 M | 1.41 B | 983 M | 641 M | 709 M | 531 M | 372 M | 417 M | 428 M | 317 M | 281 M | 255 M | 208 M |
Book Value |
3.95 B | 4.05 B | 6.39 B | 3.79 B | 5.02 B | 2.87 B | 2.53 B | 2.01 B | 1.72 B | 1.43 B | 1.22 B | 1.03 B | 857 M | 690 M | 574 M | 428 M | - | - |
Total Shareholders Equity |
3.66 B | 3.78 B | 3.81 B | 3.71 B | 4.91 B | 2.87 B | 2.36 B | 1.99 B | 1.68 B | 1.4 B | 1.22 B | 1.03 B | 857 M | 690 M | 574 M | 428 M | 351 M | 299 M |
All numbers in USD currency
Quarterly Balance Sheet New Oriental Education & Technology Group
| 2025-Q2 | 2024-Q2 | 2023-Q2 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q2 | 2009-Q2 | 2008-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
14.4 M | 14.4 M | - | - | - | - | - | - | - | - | - | - | - | 118 M | - | - | - | 96.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
3.85 B | 3.48 B | - | - | - | - | - | - | - | 5.13 B | - | - | - | 3.69 B | - | - | - | 2.12 B | - | - | - | 1.76 B | - | - | - | 1.2 B | - | - | - | 920 M | - | - | - | 728 M | - | - | - | 578 M | - | - | - | 496 M | - | - | - | 438 M | - | - | - | 289 M | - | 169 M | - | - |
Deferred Revenue |
1.95 B | 1.78 B | - | - | - | - | - | - | - | 1.93 B | - | - | - | 1.32 B | - | - | - | 1.3 B | - | - | - | 1.27 B | - | - | - | 867 M | - | - | - | 647 M | - | - | - | 501 M | - | - | - | 381 M | - | - | - | 332 M | - | - | - | 269 M | - | - | - | 194 M | - | 107 M | - | - |
Retained Earnings |
1.77 B | 1.51 B | - | - | - | - | - | - | - | 2.25 B | - | - | - | 1.99 B | - | - | - | 1.65 B | - | - | - | 1.35 B | - | - | - | 1.17 B | - | - | - | 932 M | - | - | - | 824 M | - | - | - | 655 M | - | - | - | 501 M | - | - | - | 387 M | - | - | - | 323 M | - | 225 M | - | - |
Total Assets |
7.81 B | 7.53 B | 6.39 B | - | - | - | - | - | - | 10.2 B | - | - | - | 6.56 B | - | - | - | 4.65 B | - | - | - | 3.98 B | - | - | - | 2.92 B | - | - | - | 2.35 B | - | - | - | 1.95 B | - | - | - | 1.6 B | - | - | - | 1.35 B | - | - | - | 1.13 B | - | - | - | 863 M | - | 596 M | - | - |
Cash and Cash Equivalents |
1.61 B | 1.39 B | 1.81 B | - | - | - | - | - | - | 1.61 B | - | - | - | 915 M | - | - | - | 1.41 B | - | - | - | 983 M | - | - | - | 641 M | - | - | - | 709 M | - | - | - | 531 M | - | - | - | 372 M | - | - | - | 417 M | - | - | - | 428 M | - | - | - | 317 M | - | 281 M | 255 M | 208 M |
Book Value |
3.95 B | 4.05 B | 6.39 B | - | - | - | - | - | - | 5.02 B | - | - | - | 2.87 B | - | - | - | 2.53 B | - | - | - | 2.21 B | - | - | - | 1.72 B | - | - | - | 1.43 B | - | - | - | 1.22 B | - | - | - | 1.03 B | - | - | - | 857 M | - | - | - | 690 M | - | - | - | 574 M | - | 428 M | - | - |
Total Shareholders Equity |
3.66 B | 3.78 B | 3.81 B | - | - | - | - | - | - | 4.91 B | - | - | - | 2.73 B | - | - | - | 2.36 B | - | - | - | 1.99 B | - | - | - | 1.68 B | - | - | - | 1.4 B | - | - | - | 1.22 B | - | - | - | 1.03 B | - | - | - | 857 M | - | - | - | 690 M | - | - | - | 574 M | - | 428 M | 351 M | 299 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of New Oriental Education & Technology Group , providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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