COMP <GO>

FEDU vs EDU // ALTMAN Z-SCORE & DEBT/EQUITY

Four Seasons Education (Cayman) Inc. each ADS representing 10 (NYSE) VS. New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) (NYSE) • 15-METRIC TALLY: FEDU 4 — EDU 7

■ METRIC PARITY

FEDU — Four Seasons Education (Cayman) Inc. each ADS representing 10 ROARABLE D+ • RQD 57/100

LAST: $10.30 (-10.40%) • MKT CAP: $23.3M

DES <GO> FA <GO> 10-K RED <GO>

balance-sheet

—

EDU — New Oriental Education & Technology Group Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) ROARABLE B- • RQD 70/100

LAST: $49.09 (-3.21%) • MKT CAP: $7.61B

DES <GO> FA <GO> 10-K RED <GO>

balance-sheet

4.92

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (FEDU VS. EDU) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	FEDU	EDU	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	25.80%	54.60%	-28.80	EDU	/gross-margins <GO>
Return on Invested Capital (ROIC)	—	21.30%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	13.2x	9.3x	+3.90	EDU	/valuation <GO>
Free Cash Flow Yield	14.88%	10.25%	+4.63	FEDU	/fcf-yield <GO>
Operating Margin	2.60%	11.40%	-8.80	EDU	/operating-margins <GO>
Net Profit Margin	12.10%	8.40%	+3.70	FEDU	/net-margins <GO>
Revenue Growth (YoY)	7.60%	15.50%	-7.90	EDU	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	1.27%	-1.27	EDU	/dividend-safety <GO>
Altman Z-Score & Debt/Equity ACTIVE	—	4.92	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	9/9	-3.00	EDU	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	44.1	26.9	+17.22	FEDU	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	0.96	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	4.8x	13.4x	-8.60	FEDU	/forward-pe <GO>
Enterprise Scale & Market Cap	$23.3M	$7.61B	-$7.59B	EDU	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	FEDU REV	EDU REV	FEDU GROSS %	EDU GROSS %	FEDU FCF	EDU FCF
FY 2025	$37.1M	$5.66B	25.8%	54.6%	$3.5M	$780.2M
FY 2024	$34.5M	$4.90B	18.8%	55.4%	-$5.1M	$654.7M
FY 2023	$17.4M	$4.31B	—	—	$2.3M	$928.5M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

FEDU // BETA —

EDU // BETA 0.96