New Street Research - New Oriental Education Technology Group Inc. Sponsored ADR (N1U) EDU 4QFY25 Results: Conservative Guide for 1Q and FY26

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New Street Research

Jin Yoon

EDU 4QFY25 Results: Conservative Guide for 1Q and FY26

What’s new: New Oriental’s reported 4QFY25 results that were above consensus and our expectations. Guidance implies 1Q rev growth could further decelerate partly due to tougher comps in both core academic segment and East Buy. As comps normalize, rev growth could start to accelerate in 2Q and throughout FY26. We maintain our PT at USD50.

Analysts:
Jin Yoon

31/07/2025 1 EN

Underlying

New Oriental Education & Technology Group Inc. Sponsored ADR

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US6475811070 Germany

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New Street Research

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Analysts

Jin Yoon

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New Oriental Education & Technology Group (EDU US/9901 HK): 4QFY25 earnings beat; soft 1QFY26 top-line growth but margin outlook intact.

EDU’s 4QFY25 results beat expectations. Revenue grew 9% yoy to US$1,243m, 5% better than our and consensus forecasts. Non-GAAP net profit came in at US$7m, beating our and consensus estimates, while net margin expanded 2ppt yoy to 8% for 4QFY25. EDU expects 1QFY26 revenue to rise 2-5% yoy to US$1,464.1m-1,507.2m, 5- 8ppt below expectations. Maintain BUY with a lower target price of US$55.00 (HK$43.00).

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EDU 4QFY25 Results: Conservative Guide for 1Q and FY26

New Oriental Education & Technology Group (EDU US/9901 HK): 4QFY25 earnings beat; soft 1QFY26 top-line growth but margin outlook intact.

Greater China Daily: Thursday, July 31, 2025

Orange (Buy, TP: €15.8, +19%) MasOrange (Equal Weight) It’s not all about French M&A (although that should help)

Global EM Telcos & Towers Another monster month: NSR GEM Top-10 August ‘25 Update

Reddit (RDDT, Neutral, $120 target) Ad business continues to rev, as focus turns to growing logged in users

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