New Oriental Education & Technology Group Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $475.2M | $371.7M | $309.6M | $177.3M | $-1.19B | $334.4M | $413.3M | $238.1M |
| Depreciation & Amortization | $171.7M | $139.8M | $100.6M | $117.0M | $192.3M | $225.7M | $146.3M | $110.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $5.8M | $5.7M | $6.1M | $5.6M | $1.9M | $4.5M | $4.5M | $3.7M |
| Stock-Based Compensation | $88.5M | $59.9M | $122.5M | $89.8M | $133.0M | $68.9M | $62.1M | $71.3M |
| Net Cash from Operating Activities | $1.03B | $896.6M | $1.12B | $971.0M | $-1.28B | $1.13B | $804.5M | $805.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $246.9M | $241.9M | $249.4M | $143.0M | $150.7M | $429.2M | $309.5M | $269.1M |
| Business Acquisitions | — | — | — | $-886.0K | — | $12.7M | $-1.1M | $36.4M |
| Net Cash from Investing Activities | $-457.7M | $-93.4M | $-1.15B | $-37.4M | $1.17B | $-2.18B | $-1.26B | $-574.7M |
| Financing Activities | ||||||||
| Dividends Paid | $96.4M | $98.2M | — | — | — | — | — | — |
| Stock Repurchases | $230.9M | $445.5M | $62.9M | $191.6M | — | — | — | — |
| Net Cash from Financing Activities | $-380.2M | $-585.0M | $-160.4M | $-246.9M | $-230.9M | $1.65B | $-17.9M | $266.6M |
| Net Change in Cash | $279.4M | $228.0M | $-216.3M | $610.9M | $-437.6M | $712.7M | $-498.8M | $431.5M |
| Free Cash Flow | $780.2M | $654.7M | $873.3M | $828.0M | $-1.43B | $700.9M | $494.9M | $536.5M |