May 2026 (Q1 FY27) — Jul 30, 2026
TAL Education Group Q1 FY27 — Strong Profitability and Strategic Expansion
Read the full callTAL Education Group (TAL) earnings
- May 2026 (Q1 FY27)
- Feb 2026
TAL Education Group earnings: last reported Thu, 30 Jul 2026, for the quarter ended May 2026.
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 2 open · verdicts reflect calls analysed to May 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-GAAP operating margin (FY27 vs. FY26) | continue to achieve improvements in operating margin, following FY26's ~8 percentage point improvement over FY25 | May 2026 | This year in fiscal '27, we aim to continue to achieve improvements in operating margin. | New |
| Total net revenue year-over-year growth rate (2H FY26 vs. 1H FY26) | year-over-year growth rate in the second half of this fiscal year is expected to be lower than in the first half | Nov 2025 | representing a year-over-year increase of 31.5% and 25.8% in U.S. dollar and RMB terms, respectively | Achieved |
2 of TAL Education Group's 5 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 3 more targets are in the full ledger.
Claimed
- Net revenues increased 32% year-over-year to $758 million (25% in RMB terms).
- Non-GAAP income from operations surged 492% year-over-year to $149 million.
- Non-GAAP operating margin expanded significantly to 19.6% from 4.4% in the prior year.
- Non-GAAP net income attributable to TAL reached $420 million, up from $42 million last year.
- Peiyou offline business delivered double-digit year-over-year revenue growth with a healthy retention rate over 80%.
Qualified
- The learning device market faces increased volatility due to competition, shifting consumer sentiment, and rising component costs, expected to persist into FY27.
Price
$11.89 −0.92% · −$0.11
Performance +7.2% 1Y
1Y: $11.09 on 17 Oct 2025 → $11.89. High $12.91 (30 Oct 2025), low $8.95 (25 Jun 2026).
- Previous close
- $12
- 52-week range
- $8.95 – $12.91
- One year
- +0.51%
Overview
- Symbol
- TAL
- Sector
- Consumer Discretionary
- Industry
- Services-Educational Services
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 2 open · verdicts reflect calls analysed to May 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-GAAP operating margin (FY27 vs. FY26) | continue to achieve improvements in operating margin, following FY26's ~8 percentage point improvement over FY25 | May 2026 | This year in fiscal '27, we aim to continue to achieve improvements in operating margin. | New |
| Total net revenue year-over-year growth rate (2H FY26 vs. 1H FY26) | year-over-year growth rate in the second half of this fiscal year is expected to be lower than in the first half | Nov 2025 | representing a year-over-year increase of 31.5% and 25.8% in U.S. dollar and RMB terms, respectively | Achieved |
Claimed
- Net revenues increased 32% year-over-year to $758 million (25% in RMB terms).
- Non-GAAP income from operations surged 492% year-over-year to $149 million.
- Non-GAAP operating margin expanded significantly to 19.6% from 4.4% in the prior year.
- Non-GAAP net income attributable to TAL reached $420 million, up from $42 million last year.
- Peiyou offline business delivered double-digit year-over-year revenue growth with a healthy retention rate over 80%.
Qualified
- The learning device market faces increased volatility due to competition, shifting consumer sentiment, and rising component costs, expected to persist into FY27.
The full ledger
Open TAL Education Group’s full ledger
A free account opens 5 company ledgers a month. All 5 tracked commitments, with each call’s wording and source.
Call summaries
Every analysed call
TAL Education Group earnings calls (TAL)
Financials
What the filings say
| Line item | Feb 2019 | Feb 2020 | Feb 2021 | Feb 2022 | Feb 2023 | Feb 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 920 | 786 | 625 | -544 | -686 | -694 | -624 | -130 |
| Total liabilities | 1,205 | 3,027 | 6,908 | 1,080 | 903 | 1,289 | 1,737 | 2,163 |
| Fixed assets | 288 | 367 | 511 | 281 | 289 | 405 | 472 | 501 |
| Investments | 268 | 345 | 2,695 | 1,071 | 1,150 | 1,095 | 1,847 | 1,715 |
| Total assets | 3,735 | 5,571 | 12,112 | 5,083 | 4,724 | 4,928 | 5,503 | 5,936 |
| Line item | Feb 2019 | Feb 2020 | Feb 2021 | Feb 2022 | Feb 2023 | Feb 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 194 | 856 | 955 | -939 | 7 | 306 | 398 | 601 |
| Cash from investing | -167 | -339 | -2,641 | 1,369 | -302 | 95 | -847 | -176 |
| Cash from financing | 475 | 131 | 4,795 | -2,767 | -66 | -233 | -13 | -644 |
| Net cash flow | 536 | 651 | 3,103 | -2,336 | -387 | 163 | -466 | -206 |
| Capital expenditure | -138 | -178 | -245 | -246 | -110 | -113 | -112 | -93 |
| Free cash flow | 56 | 678 | 710 | -1,185 | -103 | 193 | 286 | 508 |
Insider filings
9 filings between Apr 26, 2026 and Aug 3, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$1.24M
2 sales by 1 insider
Compensation
not trading decisions- 4
- Option exercise — converted options into shares
- 3
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| PENG ALEX ZHUANGZHUANG | — | $1.24M | Aug 3, 2026 |
Latest filings (9)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 3, 2026 | PENG ALEX ZHUANGZHUANG See Remarks | Sale | 30,000 | $368.4K |
| Apr 27, 2026 | WANG Edward Yi Director | Tax withheld | 4,276 | $46.2K |
| Apr 27, 2026 | LIU YACHAO See Remarks | Tax withheld | 18,967 | $204.9K |
| Apr 27, 2026 | PENG ALEX ZHUANGZHUANG See Remarks | Tax withheld | 15,659 | $169.2K |
| Apr 27, 2026 | PENG ALEX ZHUANGZHUANG See Remarks | Sale | 80,000 | $868.5K |
| Apr 26, 2026 | LIU YACHAO See Remarks | Option exercise | 39,672 | $0 |
| Apr 26, 2026 | WANG Edward Yi Director | Option exercise | 14,142 | $0 |
| Apr 26, 2026 | PENG ALEX ZHUANGZHUANG See Remarks | Option exercise | 30,360 | $0 |
| Apr 26, 2026 | PENG ALEX ZHUANGZHUANG See Remarks | Option exercise | 7,590 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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