New Oriental Education & Technology Group Inc. cash flow statement

In fiscal 2026, New Oriental Education & Technology Group Inc.'s operations generated $1.03bn of cash; it spent $247m on capital projects, leaving free cash flow of $780m. It returned $96.4m in dividends and $231m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

New Oriental Education & Technology Group Inc.: cash flow statement, annual
Fiscal year	2010May 2010	2011May 2011	2012May 2012	2013May 2013	2014May 2014	2015May 2015	2016May 2016	2017May 2017	2018May 2018	2019May 2019	2020May 2020	2021May 2021	2022May 2022	2023May 2023	2024May 2024	2025May 2025	2026May 2026
Cash from operations	142	216	249	284	361	374	524	623	781	806	804	1,130	−1,280	971	1,123	897	1,027
Depreciation and amortisation	12	16	26	39	44	47	47	54	77	110	146	226	192	117	101	140	172
Stock-based pay	16	15	24	27	20	16	17	20	57	71	62	69	133	90	122	60	88
Capital spending	20	49	72	61	32	55	64	106	214	269	310	429	151	143	249	242	247
Free cash flow	122	167	178	222	330	319	460	517	567	537	495	701	−1,431	828	873	655	780
Free cash flow after stock pay	106	152	153	195	310	303	443	497	509	465	433	632	−1,564	738	751	595	692
Dividends paid	—	—	—	47	54	—	63	—	71	—	—	—	—	—	—	98	96
Share buybacks	30	—	—	29	21	59	—	—	—	56	—	—	—	192	63	445	231

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from New Oriental Education & Technology Group Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to New Oriental Education & Technology Group Inc.