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General information

Country: CHINA

Sector: Education and Training Services

Four Seasons Education (Cayman), Inc. is an after-school education service provider for students in Shanghai. The company is headquartered in Shanghai, Shanghai and currently employs 828 full-time employees. The Company’s courses are divided into elementary school programs, middle school and kindergarten programs. Elementary school programs account for a majority of its students. The firm provides three types of programs for elementary school students and middle school students: standard programs, Ivy programs and special programs. Additionally, the Company provides courses in various subjects for each grade level, while its kindergarten programs offer courses in critical thinking and Chinese language.
Website: sijiedu.com



Growth: Good revenue growth rate >200%, there is acceleration compared to average historical growth rates 13.1%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is negative, -10.0%. On average the margin is improving steadily. Gross margin is high, +40.3%. In the last quarter the company did not beat the estimated EPS.

Cash Flow Generation: Dividend yield for the last twelve months 0.0%. Free cash flow yield 1 389.0% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 31.6% higher than minimum and 72.4% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 10.2x by EV / Sales multiple

Key Financials (Download financials)

Ticker: FEDU
Share price, USD:  (-8.0%)8
year average price 9.34  


year start price 10.80 2023-04-28

min close price 7.52 2023-06-14

max close price 11.35 2024-03-18

current price 8.00 2024-04-26
Common stocks: 2 123 880

Dividend Yield:  0.0%
Last revenue growth (y/y):  > 200.0%
Last growth of EBITDA (y/y):  ---
Historical revenue growth:  13.1%
Historical growth of EBITDA:  -47.0%
EV / Sales: -2.5x
Margin (EBITDA LTM / Revenue): -10.0%
Fundamental value created in LTM:
Market Cap ($m): 17
Net Debt ($m): -265
EV (Enterprise Value): -248
Price to Book: 0.3x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q3 2023 q2 2022 q1 2021 q1 2020 q4
date 2023-08-31 2023-05-31 2022-02-28 2021-02-28 2020-11-30
symbol FEDU FEDU FEDU FEDU FEDU
reportedCurrency USD USD USD CNY CNY
cik 2M 2M 2M 2M 2M
fillingDate 2023-08-31 2023-05-31 2022-06-30 2021-07-02 2020-11-30
acceptedDate 2023-08-29 20:00:00 2023-05-29 20:00:00 2022-06-30 16:25:53 2021-07-02 16:01:27 2020-11-30 00:00:00
calendarYear 2024.000 2024.000 2022.000 2021.000 2021.000
period Q2 Q1 Q4 Q4 Q3
revenue 9M 0 167M 70M 68M
costOfRevenue 5M 0 68M 42M 42M
grossProfit 4M 0 99M 28M 25M
grossProfitRatio 0.432 0 0.592 0.403 0.372
researchAndDevelopmentExpenses 0 0 0 0 0
generalAndAdministrativeExpenses 0 0 50M 28M 30M
sellingAndMarketingExpenses 0 0 -58M 9M 8M
sellingGeneralAndAdministrativeExpenses 4M 0 -8M 37M 38M
otherExpenses 0 0 8M -2M -2M
operatingExpenses 4M 0 406 000 35M 36M
costAndExpenses 9M 0 69M 77M 78M
interestIncome 314 713 0 -2M 687 000 824 000
interestExpense 0 0 0 0 0
depreciationAndAmortization -93 961 0 0 2M 2M
ebitda 32 689 0 -107M -6M -11M
ebitdaratio 0.004 0 -0.640 -0.092 -0.159
operatingIncome 126 650 0 -107M -9M -13M
operatingIncomeRatio 0.014 0 -0.640 -0.121 -0.189
totalOtherIncomeExpensesNet 703 433 0 10M 3M 3M
incomeBeforeTax 830 083 0 -97M -5M -9M
incomeBeforeTaxRatio 0.095 0 -0.577 -0.074 -0.137
incomeTaxExpense 21 792 0 -734 000 5M -1M
netIncome 714 330 0 -92M -10M -8M
netIncomeRatio 0.082 0 -0.550 -0.141 -0.117
eps 0.340 0 -0.004 -4.280 -3.430
epsdiluted 0.340 0 -0.004 -4.280 -3.430
weightedAverageShsOut 2M 0 23 669M 2M 2M
weightedAverageShsOutDil 2M 0 23 669M 2M 2M
link Link Link
finalLink Link Link

Balance Sheet Statement

Property 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3 2022 q1
date 2023-08-31 2023-05-31 2023-02-28 2022-11-18 2022-08-31 2022-02-28
symbol FEDU FEDU FEDU FEDU FEDU FEDU
reportedCurrency CNY CNY CNY USD CNY CNY
cik 2M 2M 2M 2M 2M 2M
fillingDate 2023-08-31 2023-05-31 2023-06-28 2022-11-18 2022-08-31 2022-02-28
acceptedDate 2023-08-30 20:00:00 2023-05-30 20:00:00 2023-06-28 16:30:09 2022-11-18 06:10:46 2022-08-30 20:00:00 2022-02-27 19:00:00
calendarYear 2024.000 2024.000 2023.000 2023.000 2023.000 2022.000
period Q2 Q1 Q4 Q3 Q2 Q4
cashAndCashEquivalents 221M 221M 176M 48M 328M 262M
shortTermInvestments 276M 276M 316M 2M 33M 246M
cashAndShortTermInvestments 498M 498M 492M 50M 361M 508M
netReceivables 25M 6M 19M 153 000 16M 18M
inventory -19M 0 0 0 0 0
otherCurrentAssets 19M 19M 0 5M 0 0
totalCurrentAssets 523M 523M 511M 55M 377M 526M
propertyPlantEquipmentNet 54M 54M 43M 7M 47M 44M
goodwill 1M 1M 0 0 0 0
intangibleAssets 2M 2M 2M 417 000 3M 3M
goodwillAndIntangibleAssets 3M 3M 2M 417 000 3M 3M
longTermInvestments 51M 51M 41M 0 174M 14M
taxAssets 881 000 0 601 000 202 000 1M 869 000
otherNonCurrentAssets 3M 3M 2M 27M 11M 14M
totalNonCurrentAssets 111M 111M 90M 34M 237M 77M
otherAssets 0 0 0 0 0 0
totalAssets 634M 634M 601M 89M 614M 603M
accountPayables 0 0 70M 0 0 0
shortTermDebt 2M 0 3M 657 000 5M 3M
taxPayables 18M 0 18M 2M 15M 16M
deferredRevenue 13M 0 7M 969 000 7M 6M
otherCurrentLiabilities 85M 100M 8M 12M 80M 84M
totalCurrentLiabilities 100M 100M 87M 13M 91M 94M
longTermDebt 2M 2M 1M 0 7M 6M
deferredRevenueNonCurrent -575 000 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 575 000 0 575 000 0 571 000 725 000
otherNonCurrentLiabilities 575 000 575 000 0 2M 0 -3M
totalNonCurrentLiabilities 2M 2M 2M 2M 7M 6M
otherLiabilities 0 0 0 0 0 0
capitalLeaseObligations 3M 3M 4M 657 000 11M 9M
totalLiabilities 102M 102M 89M 15M 99M 100M
preferredStock 0 0 0 0 0 0
commonStock 532M 532M 14 000 0 0 14 000
retainedEarnings 0 0 -282M 0 0 -253M
accumulatedOtherComprehensiveIncomeLoss 0 0 16M 0 0 -23M
othertotalStockholdersEquity -54M 0 724M 0 458M 721M
totalStockholdersEquity 478M 532M 458M 74M 458M 446M
totalEquity 478M 532M 512M 74M 458M 446M
totalLiabilitiesAndStockholdersEquity 580M 634M 601M 89M 557M 546M
minorityInterest 0 0 54M 0 0 0
totalLiabilitiesAndTotalEquity 580M 634M 601M 89M 557M 546M
totalInvestments 327M 327M 357M 2M 207M 260M
totalDebt 3M 2M 4M 657 000 11M 9M
netDebt -218M -220M -172M -47M -317M -254M
link Link Link
finalLink Link Link

Cash Flow Statement

Property 2023 q3 2023 q2 2020 q3 2018 q1
date 2023-08-31 2023-05-31 2020-08-31 2018-02-28
symbol FEDU FEDU FEDU FEDU
reportedCurrency USD USD CNY CNY
cik 2M 2M 2M 2M
fillingDate 2023-08-31 2023-05-31 2020-08-31 2018-06-27
acceptedDate 2023-08-29 20:00:00 2023-05-29 20:00:00 2020-08-30 20:00:00 2018-06-27 16:25:56
calendarYear 2024.000 2024.000 2021.000 2018.000
period Q2 Q1 Q2 Q4
netIncome 0 0 3M 4M
depreciationAndAmortization 0 0 0 5M
deferredIncomeTax 0 0 0 -1M
stockBasedCompensation 0 0 0 0
changeInWorkingCapital 0 0 0 -3M
accountsReceivables 0 0 0 -5M
inventory 0 0 0 0
accountsPayables 0 0 0 0
otherWorkingCapital 0 0 0 2M
otherNonCashItems 0 0 -3M 22M
netCashProvidedByOperatingActivities 0 0 0 26M
investmentsInPropertyPlantAndEquipment 0 0 0 -10M
acquisitionsNet 0 0 0 0
purchasesOfInvestments 0 0 0 0
salesMaturitiesOfInvestments 0 0 0 0
otherInvestingActivites 0 0 0 -159M
netCashUsedForInvestingActivites 0 0 0 -168M
debtRepayment 0 0 0 0
commonStockIssued 0 0 0 0
commonStockRepurchased 0 0 0 580M
dividendsPaid 0 0 0 -122M
otherFinancingActivites 0 0 0 4M
netCashUsedProvidedByFinancingActivities 0 0 0 462M
effectOfForexChangesOnCash 0 0 0 -31M
netChangeInCash 0 0 0 289M
cashAtEndOfPeriod 0 0 0 583M
cashAtBeginningOfPeriod 0 0 0 295M
operatingCashFlow 0 0 0 26M
capitalExpenditure 0 0 0 -10M
freeCashFlow 0 0 0 17M
link Link
finalLink Link

Earning call transcript

Press-releases

Show financial reports only

2023-12-29 05:49 ET
Four Seasons Education Secures Standby Letter of Credit Loan Facility with China Merchants Bank
2023-11-22 11:30 ET
Four Seasons Education Reports First Half of Fiscal Year 2024 Unaudited Financial Results
2023-06-28 20:36 ET
Four Seasons Education Files Annual Report on Form 20-F for Fiscal Year 2023
2022-06-30 20:43 ET
Four Seasons Education Files Fiscal Year 2022 Annual Report on Form 20-F
2022-06-10 10:30 ET
Four Seasons Education Announces Change to American Depositary Share Ratio
2022-01-24 10:00 ET
Four Seasons Education Announces Receipt of NYSE Non-Compliance Letter Regarding ADS Trading Price
2021-12-23 10:00 ET
Four Seasons Education Provides Updates on Business Operations
2021-12-03 21:30 ET
Four Seasons Education Appoints MBP as its Independent Registered Public Accounting Firm
2021-09-23 11:00 ET
Four Seasons Education Announces Board Authorization to Repurchase up to US$15 Million
2021-07-26 20:30 ET
Four Seasons Education Provides Update on New Regulations
2021-07-09 10:00 ET
Four Seasons Education Announces Receipt of NYSE Non-Compliance Letter Regarding ADS Trading Price
2021-07-02 20:16 ET
Four Seasons Education Files Fiscal Year 2021 Annual Report on Form 20-F
2021-05-13 10:45 ET
Four Seasons Education Reports Fourth Quarter and Fiscal 2021 Unaudited Financial Results
2021-05-07 10:30 ET
Four Seasons Education to Report Four Quarter and Fiscal Year 2021 Unaudited Financial Results
2021-01-12 11:30 ET
Four Seasons Education Reports Third Quarter Fiscal 2021 Unaudited Financial Results
2021-01-05 11:00 ET
Four Seasons Education to Report Third Quarter Fiscal Year 2021 Unaudited Financial Results
2020-10-26 10:00 ET
Four Seasons Education Reports Second Quarter Fiscal 2021 Unaudited Financial Results
2020-10-21 10:00 ET
Four Seasons Education Announces Receipt of NYSE Non-Compliance Letter Regarding ADS Trading Price
2020-10-19 10:00 ET
Four Seasons Education to Report Second Quarter Fiscal Year 2021 Unaudited Financial Results
2020-08-20 10:30 ET
Four Seasons Education Reports First Quarter Fiscal 2021 Unaudited Financial Results
2020-08-13 10:00 ET
Four Seasons Education to Report First Quarter Fiscal Year 2021 Unaudited Financial Results
2020-07-01 20:30 ET
Four Seasons Education Announces Changes to Board of Directors
2020-06-24 20:32 ET
Four Seasons Education Files Fiscal Year 2020 Annual Report on Form 20-F
2020-05-18 10:30 ET
Four Seasons Education Reports Fourth Quarter and Fiscal 2020 Unaudited Financial Results
2020-05-11 10:00 ET
Four Seasons Education to Report Fourth Quarter and Fiscal Year 2020 Unaudited Financial Results
2020-01-16 11:00 ET
Four Seasons Education Reports Third Quarter Fiscal 2020 Unaudited Financial Results
2019-11-11 21:30 ET
Four Seasons Education Announces Executive Responsibility Changes
2019-10-23 10:30 ET
Four Seasons Education Reports Second Quarter Fiscal 2020 Unaudited Financial Results
2019-10-17 10:00 ET
Four Seasons Education to Report Second Quarter Fiscal Year 2020 Unaudited Financial Results

SEC forms

Show financial reports only

SEC form 6
2023-11-22 06:34 ET
Four Seasons Education (Cayman) reported for 2023 q3
SEC form 6
2023-11-22 06:34 ET
Four Seasons Education (Cayman) published news for 2023 q3
SEC form 6
2023-06-28 16:30 ET
Four Seasons Education (Cayman) reported for 2023 q1
SEC form 6
2023-03-10 06:09 ET
Four Seasons Education (Cayman) published news for 2022 q4
SEC form 6
2022-11-18 06:10 ET
Four Seasons Education (Cayman) reported for 2022 q3
SEC form 6
2022-06-30 16:25 ET
Four Seasons Education (Cayman) reported for 2022 q1
SEC form 6
2022-06-10 07:40 ET
Four Seasons Education (Cayman) published news for 2022 q1
SEC form 6
2022-02-24 06:41 ET
Four Seasons Education (Cayman) published news for 2021 q4
SEC form 6
2022-01-24 07:05 ET
Four Seasons Education (Cayman) published news for 2021 q4
SEC form 6
2021-12-23 06:44 ET
Four Seasons Education (Cayman) published news for 2021 q3
SEC form 6
2021-12-06 06:09 ET
Four Seasons Education (Cayman) published news for 2021 q3
SEC form 6
2021-09-23 07:17 ET
Four Seasons Education (Cayman) published news for 2021 q2
SEC form 6
2021-07-28 06:25 ET
Four Seasons Education (Cayman) published news for 2021 q2
SEC form 6
2021-07-09 06:16 ET
Four Seasons Education (Cayman) published news for 2021 q2
SEC form 6
2021-07-02 16:01 ET
Four Seasons Education (Cayman) published news for 2021 q2
SEC form 6
2021-06-30 08:42 ET
Four Seasons Education (Cayman) published news for 2021 q1
SEC form 6
2021-05-13 09:16 ET
Four Seasons Education (Cayman) published news for 2021 q1
SEC form 6
2021-01-12 08:58 ET
Four Seasons Education (Cayman) published news for 2020 q4
SEC form 6
2020-10-26 08:59 ET
Four Seasons Education (Cayman) published news for 2020 q3
SEC form 6
2020-10-21 06:30 ET
Four Seasons Education (Cayman) published news for 2020 q3