T.H. Data Flash - New Oriental Education & Technology – FY4Q17: High Growth of Courses and Attendees to Drive Strong FY4Q17; Raise Price Target
​March 1, 2017 – May 31, 2017 Data Highlights:
Data in this report is extracted from public resources and processed with our proprietary methodology.
- Increase in course offerings and utilization rate driven by K-12 – According to our proprietary data for FY4Q17, the number of total courses offered was 61K in FY4Q17, up 41% Y/Y from 43K in FY4Q16, and the number of fully registered courses increased 98% to 14K in FY4Q17 from 7K in FY4Q16 (Figure 1). The growth of total fully registered courses was driven by the higher growth in K-12, which increased 83% Y/Y to 11K in FY4Q17 from 6K in FY4Q16.
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