TAL on NYSE

TAL Education Group

Logo: TAL Education Group, Public domain, via Wikimedia Commons5

Education institution of China

TAL Education Group (Chinese: 好未来), which stands for "Tomorrow Advancing Life", is a Chinese holding company that offers after-school education and tutoring for students in primary and secondary school. It is headquartered in Beijing, China. The company was founded in August 2003 by Zhang Bangxin and Cao Yundong, as "Xueersi" (Study and think).3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 20, 2026.

Overview

$3.0BRevenue, fiscal 20266
$530.8MNet income, fiscal 20266
Aug 2003Founded1

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  • TickerTAL on NYSE1
  • IndustryElementary and Secondary Schools1
  • HeadquartersBeijing1
  • Websiteen.100tal.com
  • Incorporated inCayman Islands7
  • Business address4/F, Tal Building No.1, Courtyard No. 9, Qixin Middle Street, Changping District, Beijing, F4 1022067
  • Filer categoryLarge accelerated filer7
  • Legal formexempted limited duration company4
  • LEI5493003PJZS0EC085V724
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address89 Nexus Way, KY1-9009 Camana Bay, Grand Cayman, Cayman Islands4
  • Registered withGeneral Registry, 2030474

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Heying Center (20230310101117)
Photo: N509FZ, CC BY-SA 4.0, via Wikimedia Commons8

TAL Education Group (Chinese: 好未来), which stands for "Tomorrow Advancing Life", is a Chinese holding company that offers after-school education and tutoring for students in primary and secondary school. It is headquartered in Beijing, China. The company was founded in August 2003 by Zhang Bangxin and Cao Yundong, as "Xueersi" (Study and think).3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

55.4%Gross margin6
9.2%Operating margin6
17.6%Net margin6
33.7%Revenue growth, 20266
14.1%Return on equity6
$508.3MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Learning Services and Others brought in 65% of the revenue TAL Education Group broke down this way in fiscal 2026.

  1. Learning Services and Others$1.9B665%up 27% from 2025
  2. Learning Content Solutions$1.1B635%up 48% from 2025
Products and services by year
Products and services202420252026
Learning Services and Others$1.1B$1.5B$1.9B
Learning Content Solutions$438.7M$715.4M$1.1B

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue45¢$1.3B
  • Other costs33¢$980.3M
  • Income tax5¢$154.4M
  • Profit18¢$530.8M

Out of $3.0B in revenue.6

Where each dollar of operating cash went, fiscal 2026

  • Capital spending13¢$93.2M
  • Share buybacks87¢$644.1M

Out of $601.5M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6

Financial statements

Revenue9101112136$3.0B in 2026+17% since 2019
0$2.0B$4.0B$6.0B2019: $2.6B$2.6B20192020: $3.3B$3.3B2020+28%2021: $4.5B$4.5B2021+37%2022: $4.4B$4.4B2022−2%2023: $1.0B$1.0B2023−77%2024: $1.5B$1.5B2024+46%2025: $2.3B$2.3B2025+51%2026: $3.0B$3.0B2026+34%
Gross profit9101112136$1.7B in 2026+19% since 2019
0$1.0B$2.0B$3.0B2019: $1.4B$1.4B20192020: $1.8B$1.8B2020+29%2021: $2.4B$2.4B2021+36%2022: $2.2B$2.2B2022−11%2023: $583.4M$583.4M2023−73%2024: $806.1M$806.1M2024+38%2025: $1.2B$1.2B2025+49%2026: $1.7B$1.7B2026+39%
Operating income9101112136$276.0M in 2026−19% since 2019
-$750.0M-$500.0M-$250.0M0$250.0M$500.0M2019: $341.6M$341.6M20192020: $137.4M$137.4M2020−60%2021: -$438.2M-$438.2M20212022: -$614.5M-$614.5M2022+40%2023: -$90.7M-$90.7M2023−85%2024: -$69.2M-$69.2M2024−24%2025: -$3.2M-$3.2M2025−95%2026: $276.0M$276.0M2026
Net income9101112136$530.8M in 2026+45% since 2019
-$1.5B-$1.0B-$500.0M0$500.0M$1.0B2019: $367.2M$367.2M20192020: -$110.2M-$110.2M20202021: -$116.0M-$116.0M2021+5%2022: -$1.1B-$1.1B2022+879%2023: -$135.6M-$135.6M2023−88%2024: -$3.6M-$3.6M2024−97%2025: $84.6M$84.6M20252026: $530.8M$530.8M2026+527%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2026-02-282025-02-282024-02-29
Total net revenues$3.0B$2.3B$1.5B
Cost of revenues-$1.3B-$1.0B-$684.3M
Gross profit$1.7B$1.2B$806.1M
Selling and marketing-$889.1M-$748.8M-$461.9M
General and administrative-$500.4M-$454.7M-$413.5M
Total operating expenses-$1.4B-$1.2B-$875.4M
(Loss) / income from operations$276.0M-$3.2M-$69.2M
Interest income, net$62.0M$83.5M$84.9M
Other income, net$390.2M$64.7M$48.8M
Impairment loss on long-term investments-$42.8M-$12.9M-$47.0M
Income before provision for income tax and loss from equity method investments$685.4M$132.1M$17.5M
Income tax expenses-$154.4M-$38.3M-$15.4M
Loss from equity method investments-$855.0K-$9.5M-$6.2M
Net (loss) / income$530.1M$84.3M-$4.1M
Add: Net loss attributable to non-controlling interests shareholders$613.0K$331.0K$565.0K
Net (loss) / income attributable to TAL Education Group's shareholders$530.8M$84.6M-$3.6M
Basic (in dollars per share)$2.79$0.42-$0.02
Diluted (in dollars per share)$2.75$0.41-$0.02
Basic (in shares)190.4M shares202.0M shares203.3M shares
Diluted (in shares)192.9M shares205.2M shares203.3M shares

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Corporate structure

TAL Education Group sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of TAL Education Group

  • FMR LLC Filed SCHEDULE 13G/A on TAL Education Group, latest May 6, 2026 (2 filings since May 12, 2025)
  • Morgan Stanley Filed SCHEDULE 13G/A on TAL Education Group, latest Aug 6, 2025 (4 filings since Feb 11, 2022)
  • ANGLEPOINT ASSET MANAGEMENT, LTD. Filed SC 13G/A on TAL Education Group, latest Feb 14, 2022
  • HHLR ADVISORS, LTD. Filed SC 13G/A on TAL Education Group, latest Feb 14, 2022
  • Bright Unison Ltd Filed SC 13G/A on TAL Education Group, latest Feb 4, 2022
  • Perfect Wisdom International Ltd Filed SC 13G/A on TAL Education Group, latest Feb 4, 2022
  • BAILLIE GIFFORD & CO Filed SC 13G/A on TAL Education Group, latest Oct 5, 2021
  • TAL Education Group Camana Bay, Grand Cayman, Cayman Islands

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What TAL Education Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$739.5M6 Feb 28, 2026$644.8M6 Feb 28, 2025+14.7%
Accumulated depreciation$213.6M6 Feb 28, 2026$163.9M6 Feb 28, 2025+30.4%
Property and equipment, net$500.7M6 Feb 28, 2026$472.4M6 Feb 28, 2025+6.0%
Operating-lease assets (leased space)$379.7M6 Feb 28, 2026$329.1M6 Feb 28, 2025+15.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5B6 Feb 28, 2026$1.8B6 Feb 28, 2025−14.0%
Marketable securities, current$1.7B6 Feb 28, 2026$1.8B6 Feb 28, 2025−7.1%
Debt securities available for sale$82.4M6 Feb 28, 2026$139.0M6 Feb 28, 2025−40.7%
Equity securities at fair value$272.0M6 Feb 28, 2026
Stakes in other companies (equity method)$19.7M6 Feb 28, 2026$26.2M6 Feb 28, 2025−25.0%
Long-term investments$828.2M6 Feb 28, 2026$305.1M6 Feb 28, 2025+171.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$45.5M6 Feb 28, 2026$155.0K6 Feb 28, 2025+29283.9%
Intangible assets, net (excluding goodwill)$46.0M6 Feb 28, 2026$394.0K6 Feb 28, 2025+11568.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$143.3M6 Feb 28, 2026$104.9M6 Feb 28, 2025+36.7%

Leadership

Who has led TAL Education Group, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (9)

Timeline

  1. Oct 20, 2010Went public Listed on NYSE1
  2. Aug 2003Founded Founded1

Calendar

Coming up

  1. Oct 29, 2026 · Before the openReports results for the quarter ending Aug/2026 A year earlier it reported $0.21 a share, on Oct 30, 2025.23

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

108 filings to the SEC since October 2021: 6 annual reports, 11 insider forms, 11 large holders, 80 other. The latest 20:

  1. Aug 4, 20264 OWNERSHIP DOCUMENT EDGAR
  2. Aug 3, 2026144 EDGAR
  3. Jul 30, 20266-K EDGAR
  4. Jun 12, 202620-F EDGAR
  5. May 6, 2026SCHEDULE 13G/A EDGAR
  6. Apr 28, 20264 OWNERSHIP DOCUMENT EDGAR
  7. Apr 28, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Apr 28, 20264 OWNERSHIP DOCUMENT EDGAR
  9. Apr 27, 2026144 EDGAR
  10. Apr 27, 2026144 EDGAR
  11. Apr 27, 2026144 EDGAR
  12. Apr 27, 2026144 EDGAR
  13. Apr 23, 20266-K EDGAR
  14. Mar 18, 20263 OWNERSHIP DOCUMENT EDGAR
  15. Mar 18, 20263 OWNERSHIP DOCUMENT EDGAR
  16. Mar 18, 20263 OWNERSHIP DOCUMENT EDGAR
  17. Mar 18, 20263 OWNERSHIP DOCUMENT EDGAR
  18. Mar 18, 20263 OWNERSHIP DOCUMENT EDGAR
  19. Mar 18, 20263 OWNERSHIP DOCUMENT EDGAR
  20. Mar 18, 20263 OWNERSHIP DOCUMENT EDGAR

The 108 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 0 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 3, 2026PENG ALEX ZHUANGZHUANGSee RemarksSale30,000$12.28$368.4KForm 4
Apr 27, 2026PENG ALEX ZHUANGZHUANGSee RemarksSale80,000$10.86$868.8KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.23,137,168$221.4M0.0%−3,699,989
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC20,707,024$198.2M0.0%+20,704,410
Krane Funds Advisors LLC17,323,005$165.8M5.9%−1,656,039
Robeco Institutional Asset Management B.V.14,743,438$141.1M0.2%+3,993,360
Morgan Stanley13,396,879$128.2M0.0%+451,328
CoreView Capital Management Ltd11,221,069$107.4M19.6%+223,904
Vanguard Capital Management LLC9,961,984$95.3M0.0%−2,933,396
Tiger Pacific Capital LP7,977,772$76.3M35.5%No change
Arrowstreet Capital, Limited Partnership7,606,512$72.8M0.0%+211,078
State Street Corp7,527,721$72.0M0.0%−177,799
Goldman Sachs Group Inc6,748,256$64.6M0.0%+908,557
Point72 Asset Management, L.P.6,559,258$62.8M0.1%+4,896,147
Bank Of America Corp /de/6,036,304$57.8M0.0%−260,191
Connor, Clark & Lunn Investment Management Ltd.5,203,572$49.8M0.1%+1,772,077
Capitolis Liquid Global Markets LLC4,862,300$46.5M0.2%+1,672,400
Serenity Capital Management Pte. Ltd.4,730,377$45.3M13.7%No change
Geode Capital Management, LLC4,250,283$40.5M0.0%+1,580,686
Causeway Capital Management LLC4,125,430$39.5M0.4%+647,013
Norges Bank4,073,516$39.0M0.0%New
Hsbc Holdings PLC3,465,692$33.2M0.0%+607,340
Bnp Paribas Financial Markets2,855,263$27.3M0.0%−148,409
Jpmorgan Chase & Co2,862,528$27.1M0.0%+2,752,060
Vanguard Fiduciary Trust Co2,675,536$25.6M0.0%−837,874
E Fund Management Co., Ltd.2,625,452$25.1M0.6%+484,932
Fmr LLC2,434,993$23.3M0.0%−591,158

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How TAL Education Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTAL Education Group2
  • CIK0001499620
  • Filer statusLarge accelerated filer not an emerging growth company; not a shell company31
  • Incorporated inCayman Islands31
  • Industry code (SIC)8200 Services-Educational Services2
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance2
  • Business address4/F, Tal Building No.1, Courtyard No. 9, Qixin Middle Street, Changping District, Beijing, F4 1022062
  • Phone86 (10) 5292-66692
  • Shares outstanding135,324,668 Common Class A shares; 49,153,604 Common Class B shares as of Feb 28, 202631
  • AuditorDeloitte Touche Tohmatsu Certified Public Accountants LLP, Beijing, the People’s Republic of China PCAOB ID 1113; it also attests to the company’s internal control over financial reporting31
  • On EDGAR sinceSep 29, 20102
  • Filings335 in all: 6-K (101), SC 13G/A (78), 144 (36), SC 13G (23), 20-F (16), CORRESP (15), SC 13D/A (15), UPLOAD (11)2
    All 27 form types

    3 (7), 4 (4), 20-F/A (3), EFFECT (3), F-1/A (3), S-8 (3), F-6 (2), F-6EF (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 424B4 (1), 8-A12B (1), CERTNYS (1), F-1 (1), F-6 POS (1), FWP (1), SC 13D (1), SC TO-I (1), SC TO-I/A (1)

  • Latest filingsAnnual report (20-F) Jun 12, 2026

Securities registered for trading

ClassSymbolExchange
American Depositary Shares, each three representing one Class A common shareTALThe New York Stock Exchange
Class A common shares, par value $0.001 per shareTALThe New York Stock Exchange

From the cover page of the 20-F filed Jun 12, 2026 (Section 12(b) of the Exchange Act).31

Sources

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