New Oriental Education & Technology Group
EDU on NYSE. Educational services. Market value $87.2bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to May 2026.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Retail & consumer stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $0.88 of spare cash last year. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 66 of 100. Price score: 24 of 100. Our list needs 70 on quality and 60 on price.
$57.11 a share, 29% above its 1-year low
Over the past year the price has ranged from $44.25 to $64.97.
Dividend: 0.1% a year
Paid every year for 2 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $3.1bn | $3.0bn | $4.3bn | $4.9bn | $5.7bn |
| Operating margin | |||||
| Operating margin | -31.6% | 6.3% | 8.1% | 8.7% | 11.4% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 1.70bn | 1.64bn | 1.65bn | 1.58bn | 1.55bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)6 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsSlow, 5.8% a year
- Buying back its own sharesYes, 9% fewer since 2022
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 22 September 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 168 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Orbis Investment ManagementOrbis team (Allan Gray lineage) | $99m | 0.3% | Added |
| Southeastern Asset Management (Longleaf)Mason Hawkins | $19m | 1.0% | Cut |
| Oasis ManagementSeth Fischer | $7m | 0.9% | Cut |
| Boston PartnersBoston Partners team | $4m | <0.1% | Cut |
Largest holders overall
- First Beijing Investment$401mCut
- Invesco$221m
- Aspex Management (HK)$208m
- Discerene Group LP$141mAdded
- Renaissance Technologies$131mCut
- Orbis Investment Management$99mAdded
- Alkeon Capital Management$79m
- UBS Group AG$78mAdded
- UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS$68mCut
- Federated Hermes$66m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- First Beijing Investment LtdPassive investor10.9%−1.4 ptsSince 31 March 2026
- Invesco Ltd.Passive investor5.4%Since 31 March 2026
- Norges BankPassive investorSold down below 5%Since 30 June 2026
- GIC Private LtdPassive investorSold down below 5%Since 30 June 2025
| Holder | Stake | Since | |
|---|---|---|---|
First Beijing Investment Ltd Passive investor | 10.9%−1.4 pts | 31 March 2026 | |
Invesco Ltd. Passive investor | 5.4% | 31 March 2026 | |
Norges Bank Passive investor | Sold down below 5% | 30 June 2026 | |
GIC Private Ltd Passive investor | Sold down below 5% | 30 June 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 2 sold $4m.
- Zhou ChenggangDirectorSold
- Date
- 10 August 2026
- Shares
- 56,948
- Price
- $56.83
- Value
- $3m
- Zhou ChenggangDirectorSold
- Date
- 7 August 2026
- Shares
- 13,052
- Price
- $56.32
- Value
- $735,089
- Zhuge YueDirectorSold
- Date
- 3 August 2026
- Shares
- 1,600
- Price
- $59.55
- Value
- $95,286
- Zhuge YueDirectorSold
- Date
- 31 July 2026
- Shares
- 570
- Price
- $58.99
- Value
- $33,623
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 10 August 2026 | Zhou Chenggang Director | Sold | 56,948 | $56.83 | $3m |
| 7 August 2026 | Zhou Chenggang Director | Sold | 13,052 | $56.32 | $735,089 |
| 3 August 2026 | Zhuge Yue Director | Sold | 1,600 | $59.55 | $95,286 |
| 31 July 2026 | Zhuge Yue Director | Sold | 570 | $58.99 | $33,623 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
New Oriental Education & Technology Group doesn’t file a US annual report (10-K), so we haven’t checked it.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.