Discounted Cash Flow

New Oriental Education & Technology Group Inc. ADR

EDU · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.5b $224.9m $453.5m 15.2%
2017 $1.8b (21.7%) $274.5m (22.0%) $512.4m (13.0%) 15.3% (0.3%)
2018 $2.4b (36.0%) $296.1m (7.9%) $566.9m (10.6%) 12.1% (-20.7%)
2019 $3.1b (26.5%) $238.1m (-19.6%) $536.5m (-5.4%) 7.7% (-36.5%)
2020 $3.6b (15.6%) $413.3m (73.6%) $494.9m (-7.8%) 11.5% (50.2%)
2021 $4.3b (19.5%) $334.4m (-19.1%) $700.9m (41.6%) 7.8% (-32.3%)
2022 $3.1b (-27.4%) $-1.2b (-455.2%) $-1.4b (-304.2%) -38.2% (-589.1%)
2023 $3.0b (-3.5%) $177.3m (114.9%) $828.0m (157.9%) 5.9% (115.5%)
2024 $4.3b (43.9%) $309.6m (74.6%) $873.2m (5.5%) 7.2% (21.3%)
2025 $4.9b (13.6%) $371.7m (20.1%) $654.7m (-25.0%) 7.6% (5.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model