TAL Education Group
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.01B | $2.25B | $1.49B | $1.02B | $4.39B | $4.50B | $3.27B | $2.56B |
| Cost of Revenue | $1.34B | $1.05B | $684.3M | $436.4M | $2.20B | $2.05B | $1.47B | $1.16B |
| Gross Profit | $1.67B | $1.20B | $806.1M | $583.4M | $2.19B | $2.45B | $1.80B | $1.40B |
| Gross Margin | 55.4% | 53.3% | 54.1% | 57.2% | 49.8% | 54.4% | 55.1% | 54.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $500.4M | $454.7M | $413.5M | $413.8M | $1.20B | $1.12B | $795.0M | $579.7M |
| Operating Income | $276.0M | $-3.2M | $-69.2M | $-90.7M | $-614.5M | $-438.2M | $137.4M | $341.6M |
| Operating Margin | 9.2% | -0.1% | -4.6% | -8.9% | -14.0% | -9.7% | 4.2% | 13.3% |
| Interest Expense | — | — | — | — | $7.9M | $16.9M | $11.8M | $17.6M |
| Pretax Income | $685.4M | $132.1M | $17.5M | $-109.7M | $-778.1M | $-224.6M | $-50.7M | $457.2M |
| Income Tax Expense | $154.4M | $38.3M | $15.4M | $20.0M | $397.0M | $-69.9M | $69.3M | $76.5M |
| Net Income | $530.8M | $84.6M | $-3.6M | $-135.6M | $-1.14B | $-116.0M | $-110.2M | $367.2M |
| Net Margin | 17.6% | 3.8% | -0.2% | -13.3% | -25.9% | -2.6% | -3.4% | 14.3% |
| EPS (Basic) | $2.79 | $0.42 | $-0.02 | $-0.64 | $-5.29 | $-0.57 | $-0.56 | $1.93 |
| EPS (Diluted) | $2.75 | $0.41 | $-0.02 | $-0.64 | $-5.29 | $-0.57 | $-0.56 | $1.83 |
| Shares Outstanding (Basic) | 190.4M | 202.0M | 203.3M | 212.6M | 214.8M | 203.6M | 198.2M | 190.0M |
| Shares Outstanding (Diluted) | 192.9M | 205.2M | 203.3M | 212.6M | 214.8M | 203.6M | 198.2M | 200.2M |
| Dividends Per Share | — | — | — | — | — | — | — | — |