* 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 Piotroski F-Score Chart
New Oriental Education & Technology Group Annual Data
Competitive Comparison of New Oriental Education & Technology Group's Piotroski F-Score
For the Education & Training Services subindustry, New Oriental Education & Technology Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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's Piotroski F-Score Distribution in the Education Industry
* The bar in red indicates where New Oriental Education & Technology Group's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* 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.
This Year (Aug24) TTM:
Last Year (Aug23) TTM:
Net Income was 234.728 + 681.803 + 210.703 + 1913.421 = HK$3,041 Mil. Cash Flow from Operations was 2346.705 + 855.987 + 2943.797 + 1428.342 = HK$7,575 Mil. Revenue was 6789.054 + 9443.15 + 8879.623 + 11190.79 = HK$36,303 Mil. Gross Profit was 3490.102 + 4399.762 + 4642.464 + 6641.544 = HK$19,174 Mil.
Average Total Assets from the begining of this year (Aug23)
to the end of this year (Aug24) was
(52238.322 + 55676.287 + 56235.167 + 58836.676 + 60101.826) / 5 = HK$56617.6556 Mil. Total Assets at the begining of this year (Aug23) was HK$52,238 Mil. Long-Term Debt & Capital Lease Obligation was HK$3,805 Mil. Total Current Assets was HK$42,811 Mil. Total Current Liabilities was HK$23,120 Mil.
Net Income was 5.732 + 640.7 + 226.96 + 1294.36 = HK$2,168 Mil.
Revenue was 4997.726 + 5917.914 + 6744.553 + 8609.094 = HK$26,269 Mil. Gross Profit was 2365.043 + 3017.94 + 3675.349 + 5155.99 = HK$14,214 Mil.
Average Total Assets from the begining of last year (Aug22)
to the end of last year (Aug23) was
(47234.894 + 47169.239 + 48371.855 + 50099.611 + 52238.322) / 5 = HK$49022.7842 Mil. Total Assets at the begining of last year (Aug22) was HK$47,235 Mil. Long-Term Debt & Capital Lease Obligation was HK$2,392 Mil. Total Current Assets was HK$35,774 Mil. Total Current Liabilities was HK$18,520 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
New Oriental Education & Technology Group's current Net Income (TTM) was 3,041.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
New Oriental Education & Technology Group's current Cash Flow from Operations (TTM) was 7,575.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
New Oriental Education & Technology Group's return on assets of this year was 0.05820736. New Oriental Education & Technology Group's return on assets of last year was 0.04589302.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
New Oriental Education & Technology Group's gearing of this year was 0.06720128. New Oriental Education & Technology Group's gearing of last year was 0.04880351.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
New Oriental Education & Technology Group's current ratio of this year was 1.85169836. New Oriental Education & Technology Group's current ratio of last year was 1.93165899.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
New Oriental Education & Technology Group's number of shares in issue this year was 1659.034. New Oriental Education & Technology Group's number of shares in issue last year was 1665.319.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
New Oriental Education & Technology Group's gross margin of this year was 0.52816776. New Oriental Education & Technology Group's gross margin of last year was 0.54110041.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
New Oriental Education & Technology Group's asset turnover of this year was 0.69494225. New Oriental Education & Technology Group's asset turnover of last year was 0.55614155.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
1
+
1
+
0
+
0
+
1
+
0
+
1
=
6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
New Oriental Education & Technology Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.
New Oriental Education & Technology Group (HKSE:09901) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
New Oriental Education & Technology Group Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of New Oriental Education & Technology Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
New Oriental Education & Technology Group Business Description
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. The company also owns 55% of East Buy, a market leader in livestreaming e-commerce.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:09901 has been successfully added to your 