TAL Education Group (TAL) Cash Flow: Operating & Free Cash Flow

TAL Education Group Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for TAL Education Group (TAL) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Feb 2026	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017
Operating Activities
Net Income	0.53	0.08	0.00	-0.14	-1.16	-0.14	-0.13	0.36	0.19	0.11
Depreciation & Amortization	0.08	0.05	0.03	0.04	0.19	0.17	0.12	0.09	0.06	0.03
Deferred Income Tax	0.00	0.00	0.00	0.00	0.30	0.16	0.00	0.01	5.18	-3.34
Stock Based Compensation	0.04	0.06	0.09	0.11	0.17	0.20	0.12	0.08	0.05	0.04
Change in Working Capital	0.26	0.21	0.18	-0.07	-1.31	0.57	0.44	-0.27	0.38	0.19
Change in Accounts Receivable	0.00	0.00	0.01	0.01	0.00	0.07	-0.01	0.11	0.03	-0.01
Change in Inventory	-0.09	-0.05	-0.03	-0.02	0.01	-0.02	-0.02	0.00	0.00	0.00
Change in Accounts Payable	0.02	0.02	0.02	0.00	-0.25	0.23	0.00	0.05	0.03	0.01
Change in Other Working Capital	-0.04	-0.09	-0.05	-0.06	0.27	0.29	0.47	-0.43	0.33	0.19
Other Operating Activities	-0.25	-0.01	0.01	0.07	1.48	0.00	0.31	-0.07	-5.18	3.34
Net Cash from Operating Activities	0.60	0.40	0.31	0.01	-0.94	0.95	0.86	0.19	0.69	0.36
Investing Activities
Capital Expenditures	-0.09	-0.11	-0.12	-0.11	-0.25	-0.25	-0.19	-0.36	-0.13	-0.07
Acquisitions	-0.09	0.00	0.00	0.00	0.02	-0.01	-0.01	-0.07	-0.01	-0.03
Purchases of Investments	-2.37	-2.19	-0.86	-1.88	-1.48	-2.59	-0.68	-0.83	-1.44	-0.45
Sales/Maturities of Investments	2.38	1.45	1.07	1.66	3.07	0.21	0.58	1.11	0.68	0.14
Other Investing Activities	0.00	0.00	0.01	0.02	0.00	0.00	-0.05	-0.02	0.06	-0.11
Net Cash from Investing Activities	-0.18	-0.85	0.10	-0.30	1.37	-2.64	-0.34	-0.17	-0.84	-0.52
Financing Activities
Debt Repayment	0.00	-0.06	0.00	0.00	-2.30	2.30	0.06	-0.02	0.00	0.21
Common Stock Issued	0.00	0.00	0.00	0.00	0.00	2.50	0.00	0.50	0.50	0.00
Common Stock Repurchased	-0.64	-0.01	-0.23	-0.07	-0.20	-0.01	0.00	0.00	0.00	-0.02
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.04	0.00
Other Financing Activities	-0.64	0.00	0.00	0.00	0.00	0.01	0.07	-0.01	-0.03	-0.01
Net Cash from Financing Activities	-0.64	-0.01	-0.23	-0.07	-2.77	4.79	0.13	0.48	0.43	0.20
Summary
Effect of Forex Changes on Cash	0.01	0.00	-0.01	-0.03	0.00	-0.01	0.00	0.03	-0.03	0.00
Net Change in Cash	-0.21	-0.47	0.16	-0.39	-2.34	3.10	0.65	0.54	0.24	0.04
Cash at Beginning of Period	1.96	2.46	2.29	2.68	5.02	1.92	1.26	0.73	0.47	0.43
Cash at End of Period	1.75	1.99	2.46	2.29	2.68	5.02	1.92	1.26	0.71	0.47
Free Cash Flow	0.51	0.29	0.18	-0.10	-1.19	0.71	0.67	-0.16	0.56	0.29
Supplemental Disclosures
Interest Paid	-	-	-	-	0.01	0.01	-	-	-	-
Income Taxes Paid	-	0.02	0.00	0.01	0.12	0.16	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of May 31, 2026. Data sources and methodology

Frequently Asked Questions About TAL Education Group Cash Flow

What is TAL Education Group's free cash flow?

TAL Education Group generated free cash flow of $508.28M in fiscal 2026 (fiscal year ended Feb 28, 2026), operating cash flow of $601.47M minus $93.19M of capital expenditures. That was up 78.1% from $285.45M a year earlier. Free cash flow equaled 16.8% of revenue.

How much does TAL Education Group spend on capital expenditures?

TAL Education Group spent $93.19M on capital expenditures in fiscal 2026, compared with $112.47M a year earlier. That equals 15.5% of operating cash flow.

Does TAL Education Group pay dividends or buy back shares?

Yes. In fiscal 2026 TAL Education Group returned $644.09M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition