What is Tal Education Group's earnings per share (EPS)?

Tal Education Group (TAL) reported diluted earnings per share of $2.75 for fiscal year 2026. This represents a 570.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tal Education Group Financials

TAL

Source SEC Filings (10-K/10-Q) Updated Feb 28, 2026 Currency USD FYE February

This page shows Tal Education Group (TAL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TAL FY2026 2026-06-12

A cash-first turnaround is visible as stable gross margins and modest reinvestment pulled earnings back toward break-even.

The non-obvious shift is that cash generation recovered before reported profit: free cash flow turned positive at $193M while net income was still slightly negative. Later, operating cash flow reached $398M while net income was only $85M, showing the business had become cash-productive before the income statement looked fully repaired.

Because gross margin stayed above 53.0% while operating margin improved from -8.9% to near break-even, the recovery looks driven more by fixed-cost absorption and expense control than by a dramatic change in the underlying margin structure. That matters because annual capital spending stayed near $112M, so more of each recovered revenue dollar could flow into cash instead of back into heavy reinvestment.

The balance sheet still looks liquid, with a current ratio of 2.9x and cash of $1.8B. But liabilities climbed to $1.7B as cash came down from its earlier peak, so the company still operates from a sizable liquidity base, yet the balance-sheet cushion is no longer widening on its own.

Financial Health Signals

Financial Profile 58/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Tal Education Group's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Tal Education Group has an operating margin of 9.2%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 30/100, indicating healthy but not exceptional operating efficiency. This is up from -0.1% the prior year.

Growth

100

Tal Education Group's revenue surged 33.7% year-over-year to $3.0B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Tal Education Group carries a low D/E ratio of 0.57, meaning only $0.57 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Tal Education Group's current ratio of 2.17 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Tal Education Group has a free cash flow margin of 16.9%, earning a moderate score of 62/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Tal Education Group generates a 14.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is up from 2.3% the prior year.

Altman Z-Score Grey Zone

2.46

Tal Education Group scores 2.46, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($5.1B) relative to total liabilities ($2.2B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

6/9

Tal Education Group passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.13x

For every $1 of reported earnings, Tal Education Group generates $1.13 in operating cash flow ($601.5M OCF vs $530.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.0B

YoY+33.7%

5Y CAGR-7.7%

10Y CAGR+17.1%

Tal Education Group generated $3.0B in revenue in fiscal year 2026. This represents an increase of 33.7% from the prior year.

EBITDA

$348.5M

YoY+675.5%

10Y CAGR+12.8%

Tal Education Group's EBITDA was $348.5M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 675.5% from the prior year.

Net Income

$530.8M

YoY+527.4%

10Y CAGR+17.8%

Tal Education Group reported $530.8M in net income in fiscal year 2026. This represents an increase of 527.4% from the prior year.

EPS (Diluted)

$2.75

YoY+570.7%

10Y CAGR+16.4%

Tal Education Group earned $2.75 per diluted share (EPS) in fiscal year 2026. This represents an increase of 570.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$508.3M

YoY+77.6%

5Y CAGR-6.5%

10Y CAGR+12.1%

Tal Education Group generated $508.3M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 77.6% from the prior year.

Cash & Debt

$1.5B

YoY-14.0%

5Y CAGR-14.0%

10Y CAGR+13.4%

Tal Education Group held $1.5B in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

135M

Tal Education Group had 135M shares outstanding in fiscal year 2026.

Margins & Returns

Gross Margin

55.4%

YoY+2.0pp

5Y CAGR+0.9pp

10Y CAGR+4.3pp

Tal Education Group's gross margin was 55.4% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 2.0 percentage points from the prior year.

Operating Margin

9.2%

YoY+9.3pp

5Y CAGR+18.9pp

10Y CAGR-4.5pp

Tal Education Group's operating margin was 9.2% in fiscal year 2026, reflecting core business profitability. This is up 9.3 percentage points from the prior year.

Net Margin

17.6%

YoY+13.9pp

5Y CAGR+20.2pp

10Y CAGR+1.1pp

Tal Education Group's net profit margin was 17.6% in fiscal year 2026, showing the share of revenue converted to profit. This is up 13.9 percentage points from the prior year.

Return on Equity

14.1%

YoY+11.8pp

5Y CAGR+16.3pp

10Y CAGR-9.5pp

Tal Education Group's ROE was 14.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 11.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$644.1M

YoY+4799.1%

5Y CAGR+130.7%

Tal Education Group spent $644.1M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 4799.1% from the prior year.

Capital Expenditures

$93.2M

YoY-16.6%

5Y CAGR-17.6%

10Y CAGR+10.3%

Tal Education Group invested $93.2M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 16.6% from the prior year.

TAL Income Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Revenue	$3.0B+33.7%	$2.3B+51.0%	$1.5B+46.2%	$1.0B-76.8%	$4.4B-2.3%	$4.5B
Cost of Revenue	$1.3B+27.9%	$1.0B+53.4%	$684.3M+56.8%	$436.4M-80.2%	$2.2B+7.6%	$2.0B
Gross Profit	$1.7B+38.8%	$1.2B+48.9%	$806.1M+38.2%	$583.4M-73.3%	$2.2B-10.6%	$2.4B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$500.4M+10.1%	$454.7M+10.0%	$413.5M-0.1%	$413.8M-65.5%	$1.2B+7.4%	$1.1B
Operating Income	$276.0M+8849.3%	-$3.2M+95.4%	-$69.2M+23.7%	-$90.7M+85.2%	-$614.5M-40.2%	-$438.2M
Interest Expense	N/A	N/A	N/A	N/A	$7.9M-53.6%	$16.9M
Income Tax	$154.4M+303.0%	$38.3M+149.2%	$15.4M-23.1%	$20.0M-95.0%	$397.0M+668.0%	-$69.9M
Net Income	$530.8M+527.4%	$84.6M+2467.5%	-$3.6M+97.4%	-$135.6M+88.1%	-$1.1B-879.5%	-$116.0M
EPS (Diluted)	$2.75+570.7%	$0.41+2150.0%	$-0.02+96.9%	$-0.64+87.9%	$-5.29-828.1%	$-0.57

Metric	Q4'26	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TAL Balance Sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Total Assets	$5.9B+7.9%	$5.5B+11.7%	$4.9B+4.3%	$4.7B-7.0%	$5.1B-58.0%	$12.1B
Current Assets	$3.8B-6.9%	$4.1B+11.6%	$3.7B+6.7%	$3.5B-4.4%	$3.6B-55.5%	$8.2B
Cash & Equivalents	$1.5B-14.0%	$1.8B-19.8%	$2.2B+9.2%	$2.0B+23.4%	$1.6B-49.5%	$3.2B
Inventory	$143.3M+36.7%	$104.9M+53.5%	$68.3M+75.2%	$39.0M+78.7%	$21.8M-43.6%	$38.7M
Accounts Receivable	$71.6M-24.0%	$94.2M+78.5%	$52.7M+17.7%	$44.8M+75.3%	$25.6M-1.3%	$25.9M
Goodwill	$45.5M+29283.9%	$155K-1.3%	$157K	N/A	N/A	$454.4M
Total Liabilities	$2.2B+24.5%	$1.7B+34.7%	$1.3B+42.7%	$903.4M-16.4%	$1.1B-84.4%	$6.9B
Current Liabilities	$1.8B+22.6%	$1.4B+33.2%	$1.1B+38.1%	$783.9M-13.2%	$902.6M-73.2%	$3.4B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.8B+0.2%	$3.8B+2.9%	$3.7B-4.7%	$3.8B-4.6%	$4.0B-22.5%	$5.2B
Retained Earnings	-$130.4M+79.1%	-$624.1M+10.1%	-$694.3M-1.2%	-$685.9M-26.0%	-$544.3M-187.1%	$624.9M

Metric	Q4'26	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Total Assets	$5.9B+7.9%	$5.5B+11.7%	$4.9B+4.3%	$4.7B-7.0%	$5.1B-58.0%	$12.1B+117.4%	$5.6B+49.2%	$3.7B
Current Assets	$3.8B-6.9%	$4.1B+11.6%	$3.7B+6.7%	$3.5B-4.4%	$3.6B-55.5%	$8.2B+226.8%	$2.5B+43.0%	$1.7B
Cash & Equivalents	$1.5B-14.0%	$1.8B-19.8%	$2.2B+9.2%	$2.0B+23.4%	$1.6B-49.5%	$3.2B+73.1%	$1.9B+50.3%	$1.2B
Inventory	$143.3M+36.7%	$104.9M+53.5%	$68.3M+75.2%	$39.0M+78.7%	$21.8M-43.6%	$38.7M+49.7%	$25.8M+233.3%	$7.8M
Accounts Receivable	$71.6M-24.0%	$94.2M+78.5%	$52.7M+17.7%	$44.8M+75.3%	$25.6M-1.3%	$25.9M-39.3%	$42.7M-15.1%	$50.2M
Goodwill	$45.5M+29283.9%	$155K-1.3%	$157K	N/A	N/A	$454.4M+19.9%	$378.9M-8.5%	$414.2M
Total Liabilities	$2.2B+24.5%	$1.7B+34.7%	$1.3B+42.7%	$903.4M-16.4%	$1.1B-84.4%	$6.9B+128.2%	$3.0B+151.3%	$1.2B
Current Liabilities	$1.8B+22.6%	$1.4B+33.2%	$1.1B+38.1%	$783.9M-13.2%	$902.6M-73.2%	$3.4B+86.8%	$1.8B+52.6%	$1.2B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$261.9M	$0
Total Equity	$3.8B+0.2%	$3.8B+2.9%	$3.7B-4.7%	$3.8B-4.6%	$4.0B-22.5%	$5.2B+106.8%	$2.5B+1.3%	$2.5B
Retained Earnings	-$130.4M+79.1%	-$624.1M+10.1%	-$694.3M-1.2%	-$685.9M-26.0%	-$544.3M-187.1%	$624.9M-20.5%	$786.1M-14.6%	$920.3M

TAL Cash Flow Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$601.5M+51.2%	$397.9M+30.0%	$306.2M+4061.1%	$7.4M+100.8%	-$939.2M-198.4%	$954.7M
Capital Expenditures	$93.2M-16.6%	$111.7M-0.9%	$112.7M+2.2%	$110.3M-55.2%	$246.3M+0.5%	$245.1M
Free Cash Flow	$508.3M+77.6%	$286.2M+48.0%	$193.4M+287.9%	-$103.0M+91.3%	-$1.2B-267.0%	$709.7M
Investing Cash Flow	-$175.7M+79.3%	-$847.0M-991.0%	$95.1M+131.5%	-$301.6M-122.0%	$1.4B+151.8%	-$2.6B
Financing Cash Flow	-$643.5M-4787.3%	-$13.2M+94.4%	-$233.1M-252.2%	-$66.2M+97.6%	-$2.8B-157.7%	$4.8B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$644.1M+4799.1%	$13.1M-94.4%	$233.6M+251.9%	$66.4M-66.2%	$196.3M+1892.3%	$9.9M

Metric	Q4'26	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TAL Financial Ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Gross Margin	55.4%+2.0pp	53.3%-0.8pp	54.1%-3.1pp	57.2%+7.4pp	49.8%-4.6pp	54.4%
Operating Margin	9.2%+9.3pp	-0.1%+4.5pp	-4.6%+4.3pp	-8.9%+5.1pp	-14.0%-4.3pp	-9.8%
Net Margin	17.6%+13.9pp	3.8%+4.0pp	-0.2%+13.1pp	-13.3%+12.6pp	-25.9%-23.3pp	-2.6%
Return on Equity	14.1%+11.8pp	2.3%+2.4pp	-0.1%+3.4pp	-3.5%+24.7pp	-28.2%-26.0pp	-2.2%
Return on Assets	8.9%+7.4pp	1.5%+1.6pp	-0.1%+2.8pp	-2.9%+19.5pp	-22.4%-21.4pp	-1.0%
Current Ratio	2.17-0.7	2.86-0.6	3.42-1.0	4.42+0.4	4.02+1.6	2.42
Debt-to-Equity	0.57+0.1	0.46+0.1	0.35+0.1	0.23-0.0	0.27-1.1	1.33
FCF Margin	16.9%+4.2pp	12.7%-0.3pp	13.0%+23.1pp	-10.1%+16.9pp	-27.0%-42.8pp	15.8%

Metric	Q4'26	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.17-0.7	2.86-0.6	3.42-1.0	4.42+0.4	4.02+1.6	2.42+1.0	1.38-0.1	1.47
Debt-to-Equity	0.57+0.1	0.46+0.1	0.35+0.1	0.23-0.0	0.27-1.1	1.33+1.2	0.10+0.1	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Tal Education Group's annual revenue?

Tal Education Group (TAL) reported $3.0B in total revenue for fiscal year 2026. This represents a 33.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Tal Education Group's revenue growing?

Tal Education Group (TAL) revenue grew by 33.7% year-over-year, from $2.3B to $3.0B in fiscal year 2026.

Is Tal Education Group profitable?

Yes, Tal Education Group (TAL) reported a net income of $530.8M in fiscal year 2026, with a net profit margin of 17.6%.

What is Tal Education Group's EBITDA?

Tal Education Group (TAL) had EBITDA of $348.5M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

What is Tal Education Group's gross margin?

Tal Education Group (TAL) had a gross margin of 55.4% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Tal Education Group's operating margin?

Tal Education Group (TAL) had an operating margin of 9.2% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Tal Education Group's net profit margin?

Tal Education Group (TAL) had a net profit margin of 17.6% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is Tal Education Group's return on equity (ROE)?

Tal Education Group (TAL) has a return on equity of 14.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Tal Education Group's free cash flow?

Tal Education Group (TAL) generated $508.3M in free cash flow during fiscal year 2026. This represents a 77.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Tal Education Group's operating cash flow?

Tal Education Group (TAL) generated $601.5M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Tal Education Group's total assets?

Tal Education Group (TAL) had $5.9B in total assets as of fiscal year 2026, including both current and long-term assets.

What are Tal Education Group's capital expenditures?

Tal Education Group (TAL) invested $93.2M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Does Tal Education Group buy back shares?

Yes, Tal Education Group (TAL) spent $644.1M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Tal Education Group have outstanding?

Tal Education Group (TAL) had 135M shares outstanding as of fiscal year 2026.

What is Tal Education Group's current ratio?

Tal Education Group (TAL) had a current ratio of 2.17 as of fiscal year 2026, which is generally considered healthy.

What is Tal Education Group's debt-to-equity ratio?

Tal Education Group (TAL) had a debt-to-equity ratio of 0.57 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tal Education Group's return on assets (ROA)?

Tal Education Group (TAL) had a return on assets of 8.9% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Tal Education Group's Altman Z-Score?

Tal Education Group (TAL) has an Altman Z-Score of 2.46, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Tal Education Group's Piotroski F-Score?

Tal Education Group (TAL) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tal Education Group's earnings high quality?

Tal Education Group (TAL) has an earnings quality ratio of 1.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Tal Education Group?

Tal Education Group (TAL) scores 58 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.