Four Seasons Education (Cayman) Inc. (FEDU) intrinsic value & 10-year financials
Four Seasons Education (Cayman) Inc. (FEDU) has a Graham intrinsic value of $19.12 per share. At $10.03 on Oct 27, 2026, the stock trades 48% below that value. Over the last 10 fiscal years revenue grew 2.5% a year to $254.4M, with an average return on invested capital of 162.5%.
- Graham intrinsic value
- $19.12
- Share price (Oct 27, 2026)
- $10.03
- Price vs Graham value
- 48% below
- Market cap
- $229.8M
- Revenue (FY2026)
- $254.4M
- Revenue growth (10-yr CAGR)
- 2.5%
- ROIC (10-yr avg)
- 162.5%
- Free cash flow (FY2026)
- $23.8M
FEDU 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $254.4M | $30.8M | $1.34 | $23.8M | 2.6% | 1.7% |
| FY2025 | $251.1M | $801.0K | $0.04 | -$37.2M | -6.3% | -2.5% |
| FY2024 | $125.4M | $5.0M | $0.21 | -$40.1M | -7.4% | -2.5% |
| FY2023 | $34.2M | -$29.7M | -$1.40 | -$34.2M | -104.2% | -15.1% |
| FY2022 | $250.2M | -$113.5M | -$5.04 | -$101.2M | -26.5% | -26.9% |
| FY2021 | $280.3M | -$28.2M | -$1.22 | $20.7M | -13.0% | -10.8% |
| FY2020 | $389.0M | -$109.5M | -$4.63 | $73.0M | -33.7% | -35.1% |
| FY2019 | $335.6M | -$601.0K | -$0.02 | $35.3M | 0.3% | 0.1% |
| FY2018 | $300.5M | $44.4M | $1.98 | $72.8M | 20.5% | 11.8% |
| FY2017 | $203.2M | $17.7M | $0.94 | $112.8M | 31.1% | 1704.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Four Seasons Education (Cayman) Inc. has demonstrated mature, steady growth, with revenue compounding at 2.5% annually over the past decade.
Four Seasons Education (Cayman) Inc. has historically struggled to out-earn its cost of capital, averaging just -13.0% ROIC.
Four Seasons Education (Cayman) Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Four Seasons Education (Cayman) Inc. is modeled at 4.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $19.12 per share.