v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2026
May 31, 2025
Current assets    
Cash and cash equivalents $ 1,821,202 $ 1,612,379
Restricted cash, current 179,103 180,724
Term deposits, current 919,492 1,092,115
Short-term investments 2,372,290 1,873,502
Accounts receivable, net of allowance of US$1,579 and US$3,389 as of May 31, 2025 and 2026, respectively 36,991 33,629
Inventory, net 105,803 80,884
Prepaid expenses and other current assets, net of allowance of US$713 and US$784 as of May 31, 2025 and 2026, respectively 389,132 307,902
Total current assets 5,831,755 5,187,702
Restricted cash, non-current 96,185 24,030
Term deposits, non-current 447,295 355,665
Property and equipment, net 880,068 767,346
Land use rights, net 57,191 54,900
Amounts due from related parties, non-current 12,645 12,464
Long-term deposits 56,434 48,815
Intangible assets, net 7,773 13,020
Goodwill, net 46,558 43,832
Long-term investments, net (including available-for-sale investments of US$130,539 and US$150,788 as of May 31, 2025 and 2026, respectively) 383,063 388,481
Deferred tax assets, non-current, net 105,271 97,932
Right-of-use assets 854,358 793,842
Other non-current assets 13,424 17,470
Total assets 8,792,020 7,805,499
Current liabilities    
Accounts payable (including accounts payable of the consolidated variable interest entities without recourse to the Company of US$79,890 and US$126,153 as of May 31, 2025 and 2026, respectively) 126,942 80,484
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated variable interest entities without recourse to the Company of US$800,716 and US$912,317 as of May 31, 2025 and 2026, respectively) 937,749 830,583
Dividend payable (including dividend payable of the consolidated variable interest entities without recourse to the Company of nil and nil as of May 31, 2025 and 2026, respectively) 93,413 0
Income taxes payable (including income taxes payable of the consolidated variable interest entities without recourse to the Company of US$114,618 and US$139,837 as of May 31, 2025 and 2026, respectively) 203,531 167,881
Deferred revenue (including deferred revenue of the consolidated variable interest entities without recourse to the Company of US$1,951,555 and US$2,236,560 as of May 31, 2025 and 2026, respectively) 2,242,946 1,954,464
Operating lease liabilities, current (including operating lease liabilities, current of the consolidated variable interest entities without recourse to the Company of US$ 251,600 and US$280,888 as of May 31, 2025 and 2026, respectively) 285,016 255,997
Total current liabilities 3,889,685 3,289,814
Deferred tax liabilities (including deferred tax liabilities of the consolidated variable interest entities without recourse to the Company of US$13,956 and US$13,826 as of May 31, 2025 and 2026, respectively) 14,094 14,174
Unsecured senior notes (including unsecured senior notes of the consolidated variable interest entities without recourse to the Company of nil and nil as of May 31, 2025 and 2026, respectively)   14,403
Operating lease liabilities, non-current (including operating lease liabilities, non-current of the consolidated variable interest entities without recourse to the Company of US$529,550 and US$558,321 as of May 31, 2025 and 2026, respectively) 563,825 533,376
Total liabilities 4,467,604 3,851,767
Commitments and contingencies (Note 20)
Equity    
Common shares (US$0.001 par value; 3,000,000,000 and shares authorized as of May 31, 2025 and 2026; 1,714,218,870 and 1,712,060,870 shares issued as of May 31, 2025 and 2026; 1,580,288,613 and 1,549,068,783 shares outstanding as of May 31, 2025 and 2026, respectively) 1,701 1,703
Treasury stock (151) (122)
Additional paid-in capital 1,311,642 1,467,274
Statutory reserves 531,253 502,917
Retained earnings 2,028,957 1,770,716
Accumulated other comprehensive (loss)/income 112,921 (80,615)
Total New Oriental Education & Technology Group Inc. shareholders' equity 3,986,323 3,661,873
Non-controlling interests 338,093 291,859
Total equity 4,324,416 3,953,732
Total liabilities and equity 8,792,020 7,805,499
Related Party [Member]    
Current assets    
Amounts due from related parties, current 7,742 6,567
Current liabilities    
Amounts due to related parties (including amounts due to related parties of the consolidated variable interest entities without recourse to the Company of US$405 and US$88 as of May 31, 2025 and 2026, respectively) $ 88 $ 405