New Oriental reports revenue jump in FY2025

For the fiscal year ended May 31, 2025, New Oriental Education & Technology Group Inc. reported total net revenues of $4,900.3 million, a 13.6% increase from $4,313.6 million in FY2024. This growth was primarily driven by a 23.8% rise in net service revenues to $4,334.1 million, mainly from new educational business initiatives and non-academic tutoring courses. However, net product revenues saw a 30.3% decrease to $566.2 million due to lower sales of private label products and livestreaming e-commerce.

Total operating cost and expenses increased by 12.8% to $4,472.0 million, including a $60.3 million goodwill impairment loss in the kindergarten business. Despite this, net income for FY2025 rose by 15.6% to $375.8 million, up from $325.2 million in FY2024. Net cash provided by operating activities reached $896.6 million, though net cash used in financing activities amounted to $585.0 million, including $445.5 million for share repurchases and $98.2 million for dividends.