Latest Ratios: P/E Ratio 0.5x · EV/EBITDA -0.6x · ROE 6.0%. (2016–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2M | $2M | $2M | $2M | $2M | $3M | $7M | $7M | $9M | $41M | — |
| Enterprise Value | $-2104150 | $-27118095 | $-110724368 | $-135213301 | $-169482872 | $-250079068 | $-257923803 | $-198114122 | $-451327601 | $-542380614 | — |
| P/E Ratio → | 0.49 | 0.07 | 2.17 | 0.42 | — | — | — | — | — | 0.80 | — |
| P/S Ratio | 0.06 | 0.01 | 0.01 | 0.02 | 0.06 | 0.01 | 0.03 | 0.02 | 0.03 | 0.13 | — |
| P/B Ratio | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.06 | — |
| P/FCF | 0.65 | 0.10 | — | — | — | — | 0.35 | 0.10 | 0.26 | 0.56 | — |
| P/OCF | 0.50 | 0.08 | 0.09 | 0.13 | — | — | 0.23 | 0.09 | 0.17 | 0.42 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.11 | -0.44 | -1.08 | -4.95 | -1.00 | -0.92 | -0.51 | -1.34 | -1.80 | — |
| EV / EBITDA | -0.58 | -1.10 | — | — | — | — | — | -5.68 | -20.81 | -7.96 | — |
| EV / EBIT | -2.06 | -3.91 | — | — | — | — | — | -8.02 | -77.30 | -8.47 | — |
| EV / FCF | — | -1.17 | — | — | — | — | -12.47 | -2.71 | -12.79 | -7.45 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.8% | 25.8% | 18.8% | 36.3% | 41.8% | 40.2% | 39.8% | 48.4% | 48.8% | 63.6% | 58.0% |
| Operating Margin | 2.7% | 2.7% | -6.3% | -7.4% | -104.2% | -26.5% | -13.0% | 3.9% | 1.1% | 20.5% | 31.1% |
| Net Profit Margin | 12.1% | 12.1% | 0.3% | 4.0% | -86.7% | -45.3% | -10.1% | -28.1% | -0.2% | 12.2% | 6.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.0% | 6.0% | 0.2% | 1.0% | -5.8% | -19.8% | -4.3% | -14.9% | -0.1% | 8.8% | 16.0% |
| ROA | 4.2% | 4.2% | 0.1% | 0.8% | -4.9% | -14.4% | -2.8% | -11.1% | -0.1% | 6.7% | 7.0% |
| ROIC | 1.2% | 1.2% | -3.0% | -1.9% | -9.1% | -15.7% | -6.4% | 2.8% | 1.4% | 596.5% | — |
| ROCE | 1.2% | 1.2% | -2.7% | -1.7% | -7.0% | -10.6% | -4.7% | 1.9% | 0.5% | 14.9% | 60.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.21 | 0.21 | 0.19 | 0.08 | 0.01 | 0.02 | 0.22 | 0.30 | 0.01 | 0.00 | — |
| Debt / EBITDA | 4.31 | 4.31 | — | — | — | — | — | 5.71 | 0.49 | 0.01 | — |
| Net Debt / Equity | — | -0.06 | -0.22 | -0.26 | -0.34 | -0.50 | -0.41 | -0.30 | -0.58 | -0.89 | -1.35 |
| Net Debt / EBITDA | -1.19 | -1.19 | — | — | — | — | — | -5.88 | -21.23 | -8.56 | -3.56 |
| Debt / FCF | — | -1.27 | — | — | — | — | -12.82 | -2.81 | -13.05 | -8.00 | -2.05 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($136M) exceeds total debt ($107M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.85 | 1.85 | 2.19 | 3.02 | 5.85 | 5.62 | 2.28 | 2.89 | 3.21 | 4.43 | 2.27 |
| Quick Ratio | 1.85 | 1.85 | 2.19 | 3.02 | 5.85 | 8.42 | 2.89 | 3.83 | 3.55 | 4.47 | 2.22 |
| Cash Ratio | 1.70 | 1.70 | 1.96 | 2.77 | 5.63 | 5.43 | 2.37 | 2.80 | 3.07 | 4.34 | 1.85 |
| Asset Turnover | — | 0.34 | 0.34 | 0.19 | 0.06 | 0.42 | 0.29 | 0.37 | 0.36 | 0.38 | 0.69 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 15.33 |
| Days Sales Outstanding | — | 30.06 | 44.00 | 77.22 | 206.10 | 25.60 | 14.23 | 18.52 | 25.37 | 14.21 | 11.69 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 100.0% | — | — | — | — | — | 40.0% | 100.0% | — |
| Payout Ratio | — | — | 4355.4% | — | — | — | — | — | — | 333.5% | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 100.0% | 1359.4% | 46.2% | 236.0% | — | — | — | — | — | 125.3% | — |
| FCF Yield | 100.0% | 1020.7% | — | — | — | — | 284.8% | 1016.0% | 383.9% | 179.6% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 7.6% | 10.8% | 100.0% | 0.0% | 100.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 100.0% | 7.6% | 10.8% | 100.0% | 0.0% | 100.0% | 40.0% | 100.0% | — |
| Shares Outstanding | — | $224248 | $212349 | $236146 | $224911 | $224911 | $231312 | $236689 | $240534 | $256667 | $238222 |
Regulatory and operational pivot
Based on reported figures, FEDU trades at a P/S ratio of 0.06 and a P/B of 0.03, suggesting that the market is pricing the company as a distressed asset rather than an operating entity, effectively ignoring the potential value of its substantial cash reserves.
The extremely low valuation multiples indicate that investors have largely discounted the company's future earnings potential in the wake of regulatory shifts. This valuation appears to reflect a market consensus that the core business is a value-destroying operation, where the only tangible asset of interest is the net cash position.
As reported in financial statements, the gross margin has compressed from 52.6% in 2023Q3 to 15.0% by 2025Q4, indicating that the company's current non-academic enrichment offerings lack the pricing power and operational efficiency that characterized its historical math-centric tutoring model in the Shanghai market.
The consistent operating losses, evidenced by an operating margin of -8.7% in the most recent quarter, suggest that the company's fixed-cost structure is currently misaligned with its revenue generation capabilities. This trend implies that the pivot to new service segments has not yet achieved the scale necessary to reach profitability.
According to recent SEC filings, FEDU's ROIC has remained consistently negative, reaching -1.0% in 2025Q4, which demonstrates that the company is currently failing to generate a return on its invested capital that exceeds its cost of capital, signaling a period of significant value destruction.
The persistent negative ROIC trend suggests that the capital deployed into physical learning centers is not yielding adequate returns. Investors should monitor whether management can rationalize the asset base to improve capital efficiency, as the current trajectory indicates that the business is struggling to find a viable path to profitability.
Based on the reported figures, the asset turnover ratio has remained stagnant at 0.08 in 2025Q4, reflecting a persistent inability to generate meaningful revenue from the company's significant investment in physical learning centers and other long-term assets.
The low asset turnover, combined with the volatility in DSO, suggests that the company is facing challenges in optimizing its working capital cycle. This inefficiency appears to be a structural issue, as the company struggles to align its high fixed-cost base with the current demand for its services.
The P/E ratio is frequently misapplied to FEDU, as the company's net income is often driven by non-operating interest income from its cash pile rather than core educational operations, which can lead to a misleading perception of the company's true earning power.
Analysts should prioritize evaluating the company based on its net cash position and the sustainability of its core operating margins rather than traditional earnings multiples. Relying on P/E ratios in this context obscures the underlying operational losses and the potential for cash depletion over the long term.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying FEDU stock.
Four Seasons Education (Cayman) Inc.'s current P/E ratio is 0.5x. The historical average is 0.9x. This places it at the 50th percentile of its historical range.
Four Seasons Education (Cayman) Inc.'s current EV/EBITDA is -0.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Four Seasons Education (Cayman) Inc.'s return on equity (ROE) is 6.0%. The historical average is -1.3%.
Based on historical data, Four Seasons Education (Cayman) Inc. is trading at a P/E of 0.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Four Seasons Education (Cayman) Inc. has 25.8% gross margin and 2.7% operating margin.
Four Seasons Education (Cayman) Inc.'s Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.