← Four Seasons Education (Cayman) Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | — | $92.2m | $65.7m | $57.9m | $58.5m | $41.6m | $25.3m | $25.0m | $28.9m | $19.9m | |
| Short-term Investments | — | — | $4.9m | $1.4m | $4.8m | $14.2m | $3.5m | $2.6m | $1.9m | $0 | |
| Cash and cash equivalents | $231.0m | $583.3m | $439.6m | $404.7m | $378.4m | $262.4m | $175.7m | $180.2m | $210.8m | $136.2m | |
| Accounts receivable, net of allowance for credit losses of nil and nil as of February 28, 2025 and 2026, respectively | $223k | $5.7m | — | — | — | $2.0m | $887k | $3.2m | $2.0m | $3.2m | |
| Other receivables, deposits and other assets, net of allowance for credit losses of RMB3,652 and RMB3,784 as of February 28, 2025 and 2026, respectively | — | — | $22.5m | $18.5m | $10.6m | $12.0m | $7.3m | $15.0m | $24.9m | $16.4m | |
| Short-term investments under fair value | — | — | — | — | — | — | $156.6m | $82.8m | $38.0m | $88.3m | |
| Restricted cash, non-current | — | — | — | — | — | — | — | $122.0m | $128.0m | $130.4m | |
| Assets, Current | — | $94.0m | $74.1m | $88.1m | $79.8m | $83.4m | $73.7m | $44.8m | $40.8m | $36.8m | |
| Total current assets | $282.6m | $595.0m | $495.7m | $616.2m | $516.8m | $526.0m | $511.2m | $322.6m | $297.0m | $252.3m | |
| Long-term investments under fair value, current | — | — | — | $181.8m | $96.6m | $156.5m | $135.2m | $14.1m | $3.6m | $7.0m | |
| Long-term investments, net | — | — | $219k | $1.3m | $36.8m | $14.0m | $27.5m | $36.0m | $36.0m | $45.0m | |
| Long-term investments under fair value, non-current | — | — | $162.9m | $104.4m | $163.3m | — | $13.6m | $94.8m | $99.6m | $143.9m | |
| Property, Plant and Equipment, Net | $7.4m | $3.8m | $4.0m | $2.8m | $2.4m | $1.4m | $2.0m | $9.2m | $17.2m | $17.6m | |
| Goodwill | $557k | $88k | $22.4m | $5.0m | $5.7m | — | — | $156k | $154k | $164k | |
| Intangible Assets, Net (Excluding Goodwill) | — | — | $6.6m | $1.3m | $1.1m | $518k | $357k | $258k | $197k | $326k | |
| Intangible assets, net | — | — | $43.9m | $8.8m | $7.1m | $3.3m | $2.5m | $1.9m | $1.4m | $2.2m | |
| Operating Lease, Right-of-Use Asset | — | — | — | $27.2m | $23.3m | $5.6m | $4.2m | $3.8m | $5.5m | $5.9m | |
| Other Assets, Noncurrent | — | — | — | — | $1.9m | $637k | $140k | $337k | $359k | $545k | |
| Operating lease right-of-use assets | — | — | — | $190.1m | $150.7m | $35.5m | $29.4m | $27.2m | $40.2m | $40.3m | |
| Additional Financial Items | |||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | — | $899k | — | — | — | — | $128k | $451k | $281k | $463k | |
| Amounts due from related parties, net | — | — | — | — | — | — | $11.1m | $8.3m | $3.3m | $1.4m | |
| Deferred tax assets | $1.0m | $4.1m | $9.5m | $13.4m | $16.3m | $869k | $601k | — | — | — | |
| Other non-current assets | — | — | — | $10.8m | $12.6m | $4.0m | $972k | $2.4m | $2.6m | $3.7m | |
| Amounts due to related parties | — | — | — | — | $1.5m | $883k | $867k | $3.4m | $5.3m | $5.0m | |
| Accrued expenses and other current liabilities | $32.2m | $29.2m | $56.6m | $75.1m | $86.9m | $68.3m | $59.5m | $66.0m | $71.9m | $60.4m | |
| Operating lease liabilities, current | — | — | $0 | $51.8m | $52.7m | $3.2m | $2.5m | $1.2m | $7.9m | $9.5m | |
| Income tax payable | $7.2m | $14.6m | $9.1m | $12.8m | $10.6m | $14.7m | $17.2m | $18.2m | $18.9m | $19.4m | |
| Operating lease liabilities, non-current | — | — | $0 | $147.5m | $92.1m | $5.7m | $1.2m | $1.2m | $8.3m | $7.3m | |
| Ordinary shares (US$0.0001 par value; 500,000,000 shares authorized, 22,600,576 and 22,614,376 shares issued and outstanding as of February 28, 2025 and 2026, respectively) | 9k | 15k | 15k | 15k | 15k | 14k | 14k | 14k | 15k | 15k | |
| Treasury shares (2,363,567 and 2,363,567 shares as of February 28, 2025 and 2026, respectively) | — | — | — | ($27.9m) | ($27.9m) | ($55.7m) | ($55.9m) | ($56.1m) | ($45.1m) | ($45.1m) | |
| Shareholders’ equity | $1.9m | $651.5m | $712.7m | $630.8m | $588.7m | $445.9m | $457.7m | $475.0m | $454.6m | $473.6m | |
| Non-controlling interests | $5.8m | $6.4m | $44.2m | $44.2m | $57.7m | $56.6m | $54.2m | $51.1m | $50.5m | $41.2m | |
| Total non-current assets | $13.5m | $197.3m | $436.3m | $421.4m | $450.4m | $76.6m | $89.9m | $351.6m | $434.2m | $487.2m | |
| Total non-current liabilities | — | — | $10.9m | $149.6m | $93.8m | $6.5m | $1.8m | $41.2m | $90.4m | $88.3m | |
| Total equity | $7.6m | $657.9m | $756.9m | $675.0m | $646.4m | $502.5m | $511.9m | $526.1m | $505.2m | $514.8m | |
| Assets | — | $125.2m | $139.3m | $148.4m | $149.4m | $95.5m | $86.7m | $93.7m | $100.4m | $107.8m | |
| TOTAL ASSETS | $296.1m | $792.3m | $932.1m | $1.0b | $967.2m | $602.5m | $601.0m | $674.2m | $731.1m | $739.5m | |
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Operating Lease, Liability, Current | — | — | — | $7.4m | $8.1m | $505k | $365k | $164k | $1.1m | $1.4m | |
| Accounts Payable, Current | — | — | — | — | — | — | — | — | $514k | $439k | |
| Operating Lease, Liability, Noncurrent | — | — | — | $21.1m | $14.2m | $910k | $172k | $166k | $1.1m | $1.1m | |
| Deferred Revenue, Current | $84.8m | $14.2m | $13.1m | $10.3m | $11.6m | $1.0m | $1.0m | $2.5m | $3.8m | $4.4m | |
| Dividends Payable, Current | — | $1 | — | — | — | — | — | — | — | — | |
| Long-term Debt, Current Maturities | — | — | — | — | — | — | — | — | — | $1.3m | |
| Long-term Debt, Excluding Current Maturities | — | — | — | — | — | — | — | $5.6m | $11.3m | $11.8m | |
| Liabilities, Current | — | $21.2m | $24.5m | $30.5m | $35.1m | $14.8m | $12.6m | $14.8m | $18.6m | $19.9m | |
| Total current liabilities | $124.7m | $134.3m | $164.2m | $213.0m | $227.0m | $93.6m | $87.4m | $106.8m | $135.6m | $136.5m | |
| Deferred Income Tax Liabilities, Net | — | — | — | $306k | $258k | $115k | $83k | — | — | — | |
| Deferred tax liabilities | — | — | $10.9m | $2.1m | $1.7m | $725k | $575k | — | — | — | |
| Deferred Tax Liabilities, Net | — | — | $1.6m | — | — | — | — | — | — | — | |
| Liabilities | — | $21.2m | $26.2m | $51.9m | $49.6m | $15.9m | $12.9m | $20.6m | $31.0m | $32.8m | |
| TOTAL LIABILITIES | $124.7m | $134.3m | $175.1m | $362.7m | $320.8m | $100.0m | $89.2m | $148.0m | $226.0m | $224.7m | |
| Stockholders’ equity: | |||||||||||
| Common Stock, Value, Issued | — | $2k | $2k | $2k | $2k | $2k | $2k | $2k | $2k | $2k | |
| Additional Paid in Capital | $8.3m | $107.4m | $106.4m | $106.2m | $118.7m | $123.2m | $112.5m | $108.8m | $102.6m | $109.2m | |
| Retained Earnings (Accumulated Deficit) | — | — | ($90k) | ($15.7m) | ($21.4m) | ($40.0m) | ($40.7m) | ($38.5m) | ($38.0m) | ($35.8m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | — | ($4.5m) | $240k | $3.7m | ($2.1m) | ($3.6m) | $2.3m | $3.5m | $4.0m | $2.2m | |
| Accumulated deficit | ($12.9m) | — | ($601k) | ($110.1m) | ($138.3m) | ($252.6m) | ($282.3m) | ($277.3m) | ($276.5m) | ($245.8m) | |
| Accumulated other comprehensive income | $6.5m | ($28.3m) | $1.6m | $26.1m | ($13.3m) | ($22.8m) | $15.8m | $25.1m | $28.9m | $15.4m | |
| Stockholders' Equity Attributable to Parent | — | $103.0m | $106.5m | $90.2m | $90.9m | $70.7m | $66.0m | $66.0m | $62.4m | $69.1m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $1.0m | $6.6m | $6.3m | $8.9m | $9.0m | $7.8m | $7.1m | $6.9m | $6.0m | |
| Liabilities and Equity | — | $125.2m | $139.3m | $148.4m | $149.4m | $95.5m | $86.7m | $93.7m | $100.4m | $107.8m | |
| TOTAL LIABILITIES AND EQUITY | $296.1m | $792.3m | $932.1m | $1.0b | $967.2m | $602.5m | $601.0m | $674.2m | $731.1m | $739.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.