New Oriental Education & Technology Group (New Oriental Education & Technology Group) EBIT

: $460 Mil (TTM As of Nov. 2023)

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New Oriental Education & Technology Group's earnings before interest and taxes (EBIT) for the three months ended in Nov. 2023 was $21 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Nov. 2023 was $460 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. New Oriental Education & Technology Group's annualized ROC % for the quarter that ended in Nov. 2023 was 1.89%. New Oriental Education & Technology Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2023 was 9.85%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. New Oriental Education & Technology Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Nov. 2023 was 4.47%.

New Oriental Education & Technology Group EBIT Historical Data

The historical data trend for New Oriental Education & Technology Group's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

New Oriental Education & Technology Group Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

EBIT

317.46

492.46

321.72

-1,028.45

309.24

New Oriental Education & Technology Group Quarterly Data
	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
EBIT																-2.49	66.49	167.25	205.12	21.34

Competitive Comparison

For the Education & Training Services subindustry, New Oriental Education & Technology Group's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

New Oriental Education & Technology Group EV-to-EBIT Distribution

For the Education industry and Consumer Defensive sector, New Oriental Education & Technology Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where New Oriental Education & Technology Group's EV-to-EBIT falls into.

New Oriental Education & Technology Group EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Nov. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $460 Mil.

New Oriental Education & Technology Group (NYSE:EDU) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

New Oriental Education & Technology Group's annualized ROC % for the quarter that ended in Nov. 2023 is calculated as:

	ROC % (Q: Nov. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Aug. 2023 )	+	Invested Capital (Q: Nov. 2023 ))	/ count )
=	85.368 * ( 1 - 15.35% )	/	( (3668.98	+	3965.851)	/ 2 )
=	72.264012	/	3817.4155
=	1.89 %

where

	Invested Capital		(Q: Aug. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	6674.715	-	801.087	-	( 4117.041	-	max(0, 2366.368	-	4571.016	+	4117.041	))
=	3668.98

	Invested Capital		(Q: Nov. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	7131.494	-	853.664	-	( 4446.482	-	max(0, 2664.907	-	4976.886	+	4446.482	))
=	3965.851

Note: The Operating Income data used here is four times the quarterly (Nov. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

New Oriental Education & Technology Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Nov. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Aug. 2023		Q: Nov. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	85.368	/	( ( (828.686 + max(-1757.013, 0))	+	(904.404 + max(-1975.536, 0)) )	/	2 )
=	85.368	/	( ( 828.686	+	904.404 )	/	2 )
=	85.368	/	866.545
=	9.85 %

where Working Capital is:

	Working Capital		(Q: Aug. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(35.278	+	63.27	+	346.946)	-	(801.087	+	1401.42	+	0)
=	-1757.013

	Working Capital		(Q: Nov. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(33.484	+	86.638	+	402.997)	-	(853.664	+	1644.991	+	0)
=	-1975.536

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Nov. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

New Oriental Education & Technology Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Nov. 2023 )
	=	460.203	/	10286.250
	=	4.47 %

New Oriental Education & Technology Group EBIT Related Terms

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New Oriental Education & Technology Group (New Oriental Education & Technology Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » New Oriental Education & Technology Group Inc (NYSE:EDU) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

EDUN:Mexico 09901:Hong Kong 0K75:UK N1U0:Germany E1DU34:Brazil

Address

No. 6 Hai Dian Zhong Street, Haidian District, Beijing, CHN, 100080

Website

https://www.neworiental.org

New Oriental is a leading private education provider in China. K-9 academic after-school tutoring used to account for 50%-60% of New Oriental's revenue before the regulatory crackdown in 2021. After terminating its K-9 academic after-school tutoring business, New Oriental has identified a few new initiatives such as nonacademic tutoring and intelligent learning systems and devices. The remaining businesses include high school academic after-school tutoring and overseas-related test preparation and consulting business. It also owns 55.7% of East Buy (HKG: 01797), a market leader in livestreaming e-commerce.