Educational Development Corp is a US-listed company in the publishing industry. Its financial year ends in February.
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Under review: our cash-flow value ($5.52) was left out of our combined valuation (it is 5.30x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.
Under review: our cash-flow value ($5.52) was left out of our combined valuation (it is 5.30x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.
Educational Development Corp valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to August 2026 was $20m, down 32.0% on a year earlier, a smaller fall than the 34.3% decline a quarter earlier. Free-cash-flow margin fell to 0.9% from 12.9% a year earlier. It passes 2 of our 2 financial-health checks.
Our model value for Educational Development is under review, so past values are not shown until it is resolved.
Source: 10-Q filed October 14, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Educational Development Corp's trailing-twelve-month revenue fell 32.0% year on year, with a free-cash-flow margin of 0.9%. Where it stands out: stock pay as % of revenue of 0.0% ranks 1 of 8 publishing companies we cover. Where it lags: revenue growth of -32.0% ranks 9 of 9 publishing companies we cover.
Our discounted-cash-flow model values the business at ~$5.5 per share in the base case (~$4.2–$7.3 across growth scenarios) — model values under stated assumptions, not a price target.
Current signal Net margin expanding: TTM net margin reached 8.6%, up 24.1pp year over year.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Educational Development Corp's latest figures clears our strength thresholds.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
Our value per share comes from a discounted-cash-flow model of Educational Development Corp's free cash flow after stock-based pay ( $2.5M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value Educational Development Corp as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.78 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. | ~$5.5 ~$4.2–$7.3 | Left out: out of range vs price (5.31x) |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$0.2 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Educational Development Corp with Publishing in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Now |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share price | $4.89 | $4.25 | $8.61 | $7.31 | $4.83 | $14.98 | $7.88 | $3.68 | $1.84 | $1.45 | $1.36 | $1.04 |
| Market value | $40m | $35m | $70m | $60m | $40m | $126m | $67m | $30m | $15m | $12m | $12m | $9m |
| + Net debt (− = net cash) | $20m | $26m | $17m | $17m | $16m | $14m | $42m | $45m | $33m | $31m | −$1m | −$1m |
| Enterprise value | $60m | $60m | $88m | $76m | $56m | $141m | $109m | $75m | $48m | $43m | $11m | $8m |
| Multiples | ||||||||||||
| Price / sales | 0.6x | 0.3x | 0.6x | 0.5x | 0.4x | 0.6x | 0.5x | 0.3x | 0.3x | 0.4x | 0.5x | 0.4x |
| Price / earnings | 18.7x | 12.1x | 13.5x | 9.0x | 7.1x | 10.0x | 8.0x | — | 27.9x | — | 5.0x | 5.2x |
| Price / free cash flow | — | — | 9.0x | 23.5x | 11.2x | 34.4x | — | — | 1.9x | 4.4x | 8.0x | 50.2x |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — |
Moderate moat
How hard Educational Development's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Cash operating profit has been a median 49.4% of total assets over 10 years.
Gross margin has been a median 67.2%, moving by 3.6 percentage points (standard deviation) across 10 years.
Net margin has been a median 4.6%; its worst year was -15.5%.
Free cash flow was positive in 7 of 10 years, at a median 4.8% of revenue.
The diluted share count rose 0.6% over five years; stock-based pay has been a median 0.5% of revenue.
AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (64 before it).
No analyst estimates are published for Educational Development Corp: too few analysts cover it.
Last 12 months −33.3%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $29m | $20m | −32.0% |
| P/S multiple | 0.5x | 0.4x | −1.7% |
| Share count | 9m | 9m | −0.3% |
Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.
Last 3 years +8.3%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $70m | $20m | −71.6% |
| P/S multiple | 0.1x | 0.4x | +298.4% |
| Share count | 8m | 9m | −4.4% |
Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| EDUC | −39% | −65% | −63% | +42% | −20% | −21% |
| Industry peers (median) | +27% | −31% | +16% | +28% | −1% | +20% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| EDUC | 33% | 33% | 33% | 50% | 33% | 36% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| EDUC | −60% | −78% | −80% | −46% | −40% | −35% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 96% from March 11, 2021 to November 17, 2023. Getting back needed a 2165% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 14, 2026 | −16.8% | −0.8% | −21.4% | — |
| July 9, 2026 | −3.8% | +1.3% | −3.8% | −12.0% |
| May 19, 2026 | −4.0% | +0.4% | −3.3% | −0.7% |
| January 8, 2026 | +3.6% | +0.7% | +5.8% | +2.2% |
| October 9, 2025 | −4.6% | −3.0% | −3.9% | −11.2% |
| July 7, 2025 | −2.3% | −0.8% | −0.8% | −0.8% |
| May 19, 2025 | +2.4% | −0.2% | +4.7% | +3.9% |
| January 13, 2025 | −1.8% | +0.3% | −4.1% | −7.1% |
| October 10, 2024 | −4.2% | +0.4% | −3.7% | −5.6% |
| July 11, 2024 | +2.7% | −0.2% | +11.9% | +7.6% |
| May 21, 2024 | −2.9% | 0.0% | −6.3% | −2.9% |
| January 11, 2024 | +21.4% | 0.0% | +63.2% | +47.9% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY24 Q3 | $57M |
| FY24 Q4 | $51M |
| FY25 Q1 | $46.5M |
| FY25 Q2 | $42.4M |
| FY25 Q3 | $36.5M |
| FY25 Q4 | $34.2M |
| FY26 Q1 | $31.3M |
| FY26 Q2 | $29.4M |
| FY26 Q3 | $25.4M |
| FY26 Q4 | $22.9M |
| FY27 Q1 | $20.6M |
| FY27 Q2 | $20M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY24 Q3 | -40.7% |
| FY24 Q4 | -41.9% |
| FY25 Q1 | -41.3% |
| FY25 Q2 | -39.7% |
| FY25 Q3 | -36.0% |
| FY25 Q4 | -33.0% |
| FY26 Q1 | -32.7% |
| FY26 Q2 | -30.6% |
| FY26 Q3 | -30.5% |
| FY26 Q4 | -33.0% |
| FY27 Q1 | -34.3% |
| FY27 Q2 | -32.0% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY24 Q3 | 17.0% |
| FY24 Q4 | 15.5% |
| FY25 Q1 | 17.5% |
| FY25 Q2 | 9.2% |
| FY25 Q3 | 4.0% |
| FY25 Q4 | 8.1% |
| FY26 Q1 | 9.2% |
| FY26 Q2 | 12.9% |
| FY26 Q3 | 7.3% |
| FY26 Q4 | 6.4% |
| FY27 Q1 | 3.6% |
| FY27 Q2 | 0.9% |
| Fiscal year | 2011 Feb 2011 | 2012 Feb 2012 | 2013 Feb 2013 | 2014 Feb 2014 | 2015 Feb 2015 | 2016 Feb 2016 | 2017 Feb 2017 | 2018 Feb 2018 | 2019 Feb 2019 | 2020 Feb 2020 | 2021 Feb 2021 | 2022 Feb 2022 | 2023 Feb 2023 | 2024 Feb 2024 | 2025 Feb 2025 | 2026 Feb 2026 | LTM Aug 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||||||
| Revenue | 27 | 26 | 25 | 26 | 33 | 64 | 107 | 112 | 119 | 113 | 205 | 142 | 88 | 51 | 34 | 23 | 20 |
| Gross profit | 17 | 16 | 15 | 16 | 20 | 43 | 78 | 76 | 80 | 76 | 145 | 98 | 56 | 33 | 21 | 14 | 12 |
| Net income | 1 | 1 | 1 | 0 | 1 | 2 | 3 | 5 | 7 | 6 | 13 | 8 | −3 | 1 | −5 | 2 | 2 |
| Diluted EPS | $0.15 | $0.36 | $0.20 | $0.09 | $0.21 | $0.52 | $0.70 | $0.64 | $0.81 | $0.68 | $1.50 | $0.98 | −$0.31 | $0.07 | −$0.63 | $0.27 | $0.20 |
| Growth (year on year) | |||||||||||||||||
| Revenue | — | −3.6% | −3.0% | +2.4% | +24.7% | +95.5% | +67.6% | +5.0% | +6.1% | −4.9% | +81.1% | −30.5% | −38.2% | −41.9% | −33.0% | −33.0% | −32.0% |
| Net income | — | +21.6% | −43.5% | −55.5% | — | +146.7% | +35.0% | +82.3% | +28.1% | −15.5% | +123.6% | −34.2% | −130.2% | — | — | — | — |
| Diluted EPS | — | +140.0% | −44.4% | −55.0% | — | +147.6% | +34.6% | −8.6% | +26.6% | −16.0% | +120.6% | −34.7% | −131.6% | — | — | — | — |
| Margins | |||||||||||||||||
| Gross margin | 62.2% | 59.8% | 58.8% | 59.7% | 60.8% | 67.8% | 73.2% | 68.0% | 67.1% | 67.4% | 70.7% | 68.9% | 63.8% | 64.6% | 61.5% | 59.4% | 60.1% |
| Net margin | 4.3% | 5.4% | 3.2% | 1.4% | 2.6% | 3.3% | 2.7% | 4.7% | 5.6% | 5.0% | 6.2% | 5.8% | −2.9% | 1.1% | −15.4% | 10.1% | 8.6% |
| Free-cash-flow margin | 10.3% | 2.7% | 2.4% | 10.3% | −1.8% | −28.7% | −3.8% | 7.0% | 2.1% | 3.2% | 1.8% | −17.5% | −1.7% | 15.5% | 8.1% | 6.4% | 0.9% |
| Cash flow | |||||||||||||||||
| Cash from operations | 3 | 1 | 1 | 3 | −0 | 7 | −2 | 9 | 4 | 4 | 8 | −21 | 0 | 9 | 3 | 2 | 1 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 25 | 2 | 1 | 1 | 1 | 4 | 4 | 2 | 1 | 0 | 1 | 0 |
| Free cash flow | 3 | 1 | 1 | 3 | −1 | −18 | −4 | 8 | 3 | 4 | 4 | −25 | −2 | 8 | 3 | 1 | 0 |
| Stock-based pay | — | — | — | — | — | — | — | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | — |
| Free cash flow after stock pay | — | — | — | — | — | — | — | 8 | 2 | 3 | 3 | −26 | −2 | 8 | 2 | 1 | — |
| Balance sheet | |||||||||||||||||
| Cash | 2 | 1 | 0 | 1 | 0 | 1 | 1 | 3 | 3 | 3 | 2 | 0 | 1 | 1 | 0 | 1 | 1 |
| Total debt | 0 | 0 | 1 | 0 | 1 | 22 | 26 | 20 | 20 | 19 | 16 | 43 | 46 | 34 | 31 | 0 | 0 |
| Net debt (negative = net cash) | −2 | −1 | 1 | −1 | 1 | 20 | 26 | 17 | 17 | 16 | 14 | 42 | 45 | 33 | 31 | −1 | −1 |
| Diluted shares | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 9m | 9m |
| Returned to shareholders | |||||||||||||||||
| Dividends | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 0 | 1 | 2 | 2 | 3 | 1 | 0 | — | — | — |
| Buybacks | — | — | — | — | — | — | — | — | — | — | — | — | 0 | 1 | 0 | 0 | — |
| Total returned | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 0 | 1 | 2 | 2 | 3 | 1 | 1 | 0 | 0 | — |
| Quarter | 2025 Q3 Nov 2024 | 2025 Q4 Feb 2025 | 2026 Q1 May 2025 | 2026 Q2 Aug 2025 | 2026 Q3 Nov 2025 | 2026 Q4 Feb 2026 | 2027 Q1 May 2026 | 2027 Q2 Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 11 | 7 | 7 | 5 | 7 | 4 | 5 | 4 |
| Gross profit | 7 | 4 | 4 | 3 | 4 | 2 | 3 | 2 |
| Net income | −1 | −1 | −1 | −1 | 8 | −3 | −1 | −2 |
| Diluted EPS | −$0.10 | −$0.16 | −$0.13 | −$0.15 | $0.91 | −$0.37 | −$0.16 | −$0.19 |
| Growth (year on year) | ||||||||
| Revenue | −34.8% | −26.0% | −28.9% | −29.0% | −36.6% | −37.0% | −33.1% | −11.9% |
| Net income | −142.4% | — | — | — | — | — | — | — |
| Diluted EPS | −141.7% | — | — | — | — | — | — | — |
| Margins | ||||||||
| Gross margin | 62.5% | 60.5% | 58.2% | 58.2% | 61.5% | 59.1% | 59.3% | 59.7% |
| Net margin | −7.6% | −20.3% | −15.1% | −28.0% | 111.3% | −74.4% | −29.3% | −38.8% |
| Free-cash-flow margin | 39.2% | −25.6% | 16.7% | −0.8% | 34.3% | −50.1% | 9.8% | −14.8% |
| Cash flow | ||||||||
| Cash from operations | 4 | −2 | 1 | 0 | 3 | −2 | 1 | −1 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 4 | −2 | 1 | −0 | 2 | −2 | 0 | −1 |
| Stock-based pay | 0 | 0 | 0 | 0 | 0 | 0 | — | — |
| Free cash flow after stock pay | 4 | −2 | 1 | −0 | 2 | −2 | — | — |
| Last 12 months unless stated | EDUC | TNMG | DJCO | LEE | SCHL | WLY | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $20m | $45m | $98m | $517m | $1.6bn | $1.7bn | $1.6bn |
| Revenue growth, last 12 months | −32.0% | −7.2% | 23.4% | −11.1% | −2.5% | −0.3% | −2.5% |
| Revenue growth, 3-year average | −34.2% | — | 14.7% | −10.5% | −2.0% | −5.6% | −3.8% |
| Revenue growth, latest quarter | −11.9% | — | 15.3% | −10.8% | −3.9% | −2.6% | −3.3% |
| Gross margin | 60.1% | 31.1% | — | — | 56.5% | 74.6% | 58.3% |
| Operating margin | — | −110.1% | 13.7% | 4.0% | 1.0% | 14.9% | 4.0% |
| Operating margin, 3-year average | — | — | 10.0% | 2.0% | 1.1% | 11.2% | 6.0% |
| Net margin | 8.6% | −99.0% | −11.6% | −1.8% | 3.6% | 11.9% | 3.6% |
| Cash from operations / revenue | 3.0% | −10.9% | 17.9% | −0.0% | 2.4% | 17.4% | 5.1% |
| Free-cash-flow margin | 0.9% | −11.2% | 17.7% | −0.1% | −0.9% | 14.4% | 2.8% |
| Free-cash-flow margin, 3-year average | 7.6% | — | 12.5% | −0.8% | 2.4% | 10.1% | 7.9% |
| Stock pay / revenue | 0.0% | 1.1% | 0.2% | 0.2% | 0.6% | 1.2% | 0.5% |
| Change in share count | 0.3% | 40.1% | 0.1% | 99.6% | −15.7% | −4.2% | 0.1% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -32.0% | -2.5% | 9 of 9 |
| Change in growth rate Growth | +2.3pp | +0.1pp | 2 of 9 |
| Gross margin Profitability | 60.1% | 56.5% | 2 of 5 |
| Net margin Profitability | 8.6% | 3.6% | 3 of 9 |
| Free-cash-flow margin Cash generation | 0.9% | 2.8% | 6 of 9 |
| Stock pay as % of revenue Cash generation | 0.0% | 0.6% | 1 of 8 |
| Long-term debt as % of assets Balance sheet | 0.0% | 12.8% | 1 of 7 |
| Change in share count Balance sheet | 0.3% | 0.0% | 6 of 8 |
| Days sales outstanding Balance sheet | 13 days | 43 days | 1 of 9 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Paper Pie | $19.3M | 84.4% | ▼ 35.2% |
| Publishing | $3.6M | 15.6% | ▼ 17.8% |
| Line of business | Revenue | YoY |
|---|---|---|
| Products | $21.8M | ▼ 33.0% |
| Usborne Products | $9.1M | ▼ 26.2% |
| Transportation Revenue | $1.1M | ▼ 33.1% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Educational Development Corp's 10-K filed May 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Needham Investment Management LLC | $1.2M | 800K | 43.8% | 0.0% |
| Ameriprise Financial Inc | $785,345 | 520K | 28.5% | 0.0% |
| Renaissance Technologies LLC | $304,333 | 202K | 11.0% | ▲ 2.4% |
| Citadel Advisors LLC | $110,512 | 73K | 4.0% | ▲ 56.0% |
| Geode Capital Management, LLC | $74,936 | 50K | 2.7% | ▲ 61.4% |
| Vanguard Capital Management LLC | $70,399 | 47K | 2.6% | ▲ 4.8% |
| State Street Corp | $48,133 | 32K | 1.7% | 0.0% |
| Bridgeway Capital Management, LLC | $33,501 | 22K | 1.2% | 0.0% |
| Vanguard Fiduciary Trust Co | $30,618 | 20K | 1.1% | 0.0% |
| Dimensional Fund Advisors LP | $25,741 | 17K | 0.9% | 0.0% |
| Two Sigma Investments, LP | $19,105 | 13K | 0.7% | 0.0% |
| Northern Trust Corp | $16,423 | 11K | 0.6% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Educational Development Corp's complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Cobb Heather N. CHIEF SALES & MKTG OFFICER | November 14, 2025 | Buy | 18,158 | — | $0 |
| O Keefe Daniel E CHIEF FINANCIAL OFFICER | November 14, 2025 | Buy | 9,407 | — | $0 |
| White Craig M CHIEF EXECUTIVE OFFICER | November 14, 2025 | Buy | 33,029 | — | $0 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around January 7, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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