Wah Fu Education Group Limited (WAFU) 10-Year Financial Performance & Capital Metrics

WAFU • • Industrial / General

Consumer DefensiveEducation & TrainingOnline Learning PlatformsEducational Technology & Content

AboutWah Fu Education Group Limited, through its subsidiaries, provides online exam preparation services and related technology solutions in the People's Republic of China. The company operates through two segments, Online Education Services; and Technological Development and Operation Services. The Online Education Services segment offers online education platforms to institutions, such as universities and training institutions, and online course development service companies. This segment provides self-study examination, continuing education, and non-diploma training platforms that allow students to enroll in courses for college credit; vocational education 1+X and higher vocational enrollment expansion teaching and educational administration platform; Huafu e-school system and paperless examination platform; and online training and examination preparation services directly to students. The Technological Development and Operation Services segment develops and maintains online education platforms and online courses for its clients, including universities and government agencies, as well as private clients, such as publishers; and provides consulting, maintenance, and updating services related to online education programs. In addition, it produces online training course materials. Wah Fu Education Group Limited was founded in 1999 and is headquartered in Beijing, the People's Republic of China.Show more

Revenue $6M -14.4%
EBITDA -$68K -163.9%
Net Income -$465K -741.6%
EPS (Diluted) -0.11 -780.0%
Gross Margin 41.65% +0.6%
EBITDA Margin -1.1% -174.6%
Operating Margin -6.34% -90.5%
Net Margin -7.52% -882.6%
ROE -3.89% -786.4%
ROIC -18.38% -18.4%
Debt/Equity 0.01 -58.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.6x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.0%
✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y1.88%

3Y-18.61%

TTM-27.81%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-144.15%

EPS CAGR

10Y-

5Y-

3Y-

TTM-128.48%

ROCE

10Y Avg6.42%

5Y Avg6.09%

3Y Avg3.59%

Latest-3.27%

Peer Comparison

Educational Technology & Content

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOPEGrand Canyon Education, Inc.	5.03B	180.00	23.29	7.5%	19.38%	27.88%	5.02%	0.14
DAOYoudao, Inc.	390.07M	12.47	17.81	5.89%	4.07%
VSTAVasta Platform Limited	79.21M	4.96	0.82	12.64%	28.1%	10.01%	59.55%	0.24
MYNDMynd.ai, Inc.	20.22M	0.44	-0.02	-35.35%	-35.81%	-124.42%		2.64
CHGGChegg, Inc.	96.16M	0.88	-0.11	-13.78%	-17.14%	-52.54%	52.26%	2.61
YQ17 Education & Technology Group Inc.	22.43M	3.44	-0.14	10.67%	-96.33%	-39.99%		0.03
JZJianzhi Education Technology Group Company Limited	7.63M	0.99	-0.59	-43.52%	-24.83%	-5.25%		0.29
SKILSkillsoft Corp.	86.45M	9.87	-0.66	-4.02%	-26.02%	-33.66%	13.42%	6.28

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	7.04M	5.17M	5.97M	5.36M	5.64M	8.52M	11.47M	10.69M	7.22M	6.19M
Revenue Growth %	-	-0.27%	0.15%	-0.1%	0.05%	0.51%	0.35%	-0.07%	-0.32%	-0.14%
Cost of Goods Sold+	2.55M	2.15M	2.23M	2.85M	3.39M	4M	6.01M	5.01M	4.23M	3.61M
COGS % of Revenue	0.36%	0.42%	0.37%	0.53%	0.6%	0.47%	0.52%	0.47%	0.59%	0.58%
Gross Profit+	4.49M	3.02M	3.74M	2.5M	2.25M	4.52M	5.46M	5.69M	2.99M	2.58M
Gross Margin %	0.64%	0.58%	0.63%	0.47%	0.4%	0.53%	0.48%	0.53%	0.41%	0.42%
Gross Profit Growth %	-	-0.33%	0.24%	-0.33%	-0.1%	1.01%	0.21%	0.04%	-0.47%	-0.14%
Operating Expenses+	1.87M	2.36M	2.67M	3.74M	3.82M	3.43M	4.42M	3.67M	3.23M	2.97M
OpEx % of Revenue	0.27%	0.46%	0.45%	0.7%	0.68%	0.4%	0.39%	0.34%	0.45%	0.48%
Selling, General & Admin	1.87M	2.36M	2.67M	3.74M	3.82M	3.43M	4.42M	3.67M	3.23M	2.97M
SG&A % of Revenue	0.27%	0.46%	0.45%	0.7%	0.68%	0.4%	0.39%	0.34%	0.45%	0.48%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-7.24K	-11.14K	-3.4K	7.24K	-17.04K	-21.51K	-4.56K	0	0
Operating Income+	2.62M	658.81K	1.07M	-1.24M	-1.57M	1.09M	1.04M	2.01M	-240.52K	-392.46K
Operating Margin %	0.37%	0.13%	0.18%	-0.23%	-0.28%	0.13%	0.09%	0.19%	-0.03%	-0.06%
Operating Income Growth %	-	-0.75%	0.63%	-2.15%	-0.27%	1.69%	-0.05%	0.93%	-1.12%	-0.63%
EBITDA+	2.75M	777.67K	1.19M	-1.11M	-1.2M	1.29M	1.22M	2.42M	106.27K	-67.86K
EBITDA Margin %	0.39%	0.15%	0.2%	-0.21%	-0.21%	0.15%	0.11%	0.23%	0.01%	-0.01%
EBITDA Growth %	-	-0.72%	0.54%	-1.93%	-0.09%	2.07%	-0.05%	0.99%	-0.96%	-1.64%
D&A (Non-Cash Add-back)	125.91K	118.86K	121.93K	131.02K	366.69K	195.24K	179.21K	410.36K	346.79K	324.6K
EBIT	2.62M	723.18K	1.3M	-1.24M	-1.57M	1.09M	1.04M	2.01M	-240.52K	-392.46K
Net Interest Income+	0	107.78K	177.72K	126.66K	135.36K	127.14K	122.18K	139.34K	155.36K	169.64K
Interest Income	114.05K	107.78K	177.72K	126.66K	135.36K	127.14K	122.18K	139.34K	155.36K	169.64K
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	43.61K	64.37K	223.01K	123.26K	142.59K	110.09K	100.67K	91K	-5.45K	119.72K
Pretax Income+	2.67M	723.18K	1.3M	-1.12M	-1.43M	1.2M	1.14M	2.1M	-245.97K	-272.74K
Pretax Margin %	0.38%	0.14%	0.22%	-0.21%	-0.25%	0.14%	0.1%	0.2%	-0.03%	-0.04%
Income Tax+	434.31K	105.95K	92.02K	-96.8K	212.5K	180.33K	238.88K	430.53K	130.89K	100.1K
Effective Tax Rate %	0.84%	0.79%	0.88%	0.85%	1.15%	0.85%	0.65%	0.43%	0.22%	1.71%
Net Income+	2.24M	572.7K	1.14M	-946.18K	-1.64M	1.02M	743.13K	905.89K	-55.29K	-465.3K
Net Margin %	0.32%	0.11%	0.19%	-0.18%	-0.29%	0.12%	0.06%	0.08%	-0.01%	-0.08%
Net Income Growth %	-	-0.74%	1%	-1.83%	-0.73%	1.62%	-0.27%	0.22%	-1.06%	-7.42%
Net Income (Continuing)	2.23M	617.23K	1.2M	-1.02M	-1.64M	1.02M	902.53K	1.67M	-376.86K	-372.85K
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-7.47K	101.8K	217.6K	211.35K	234.54K	606.94K	788.66K	1.33M	1.01M	1.06M
EPS (Diluted)+	0.43	0.11	0.22	-0.18	-0.38	0.23	0.17	0.20	-0.01	-0.11
EPS Growth %	-	-0.74%	1%	-1.82%	-1.11%	1.61%	-0.26%	0.18%	-1.06%	-7.8%
EPS (Basic)	0.43	0.11	0.22	-0.18	-0.38	0.23	0.17	0.20	-0.01	-0.11
Diluted Shares Outstanding	5.2M	5.2M	5.2M	5.2M	4.29M	4.38M	4.44M	4.44M	4.43M	4.41M
Basic Shares Outstanding	5.2M	5.2M	5.2M	5.2M	4.29M	4.38M	4.44M	4.44M	4.43M	4.41M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	6.34M	6.61M	8.21M	6.84M	10.25M	15.03M	16.2M	16M	14.67M	14.23M
Cash & Short-Term Investments	5.17M	5.6M	4.72M	3.93M	6.83M	12.05M	11.76M	12.57M	11.05M	10.13M
Cash Only	5.17M	5.6M	4.72M	3.93M	6.83M	12.05M	11.76M	12.57M	11.05M	10.13M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.1M	972.95K	2.07M	2.35M	3.27M	2.84M	4.35M	3.36M	3.53M	4M
Days Sales Outstanding	56.77	68.65	126.55	159.88	211.51	121.7	138.32	114.66	178.45	236.1
Inventory	7.53K	8.8K	7.73K	417.1K	0	0	0	0	0	0
Days Inventory Outstanding	1.08	1.49	1.27	53.34	-	-	-	-	-	-
Other Current Assets	67.13K	0	337.11K	146.06K	150.21K	139.94K	90.63K	69.1K	95.58K	94.95K
Total Non-Current Assets+	423.21K	679.46K	1.4M	1.64M	2.31M	1.94M	1.8M	1.54M	1.48M	1.22M
Property, Plant & Equipment	256.71K	193.38K	667.02K	868.8K	1.38M	1.13M	869.42K	886.44K	827.55K	552.29K
Fixed Asset Turnover	27.43x	26.75x	8.95x	6.17x	4.09x	7.53x	13.20x	12.06x	8.73x	11.20x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	29.76K	0	0	0	137.99K	54.38K	7.46K	0
Long-Term Investments	113.58K	346.68K	384.18K	283.11K	10.98K	11.88K	12.28K	171K	138.5K	137.8K
Other Non-Current Assets	52.92K	139.4K	0	492.87K	652.38K	157.93K	84.09K	56.04K	247.53K	268.82K
Total Assets+	6.76M	7.29M	9.61M	8.48M	12.57M	16.97M	18M	17.54M	16.16M	15.45M
Asset Turnover	1.04x	0.71x	0.62x	0.63x	0.45x	0.50x	0.64x	0.61x	0.45x	0.40x
Asset Growth %	-	0.08%	0.32%	-0.12%	0.48%	0.35%	0.06%	-0.03%	-0.08%	-0.04%
Total Current Liabilities+	798.42K	1.04M	1.43M	1.78M	2.9M	6.06M	5.99M	4.31M	3.92M	3.66M
Accounts Payable	14.22K	0	0	2.35M	0	0	108.73K	233.47K	210.35K	154.26K
Days Payables Outstanding	2.03	-	-	300.12	-	-	6.6	17.02	18.14	15.6
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	234.88K	518.7K	341.44K	620.33K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	313.82K	0	0	0	0	0	1.5M	1.57M	1.46M	0
Current Ratio	7.94x	6.37x	5.72x	3.83x	3.53x	2.48x	2.71x	3.72x	3.74x	3.88x
Quick Ratio	7.93x	6.36x	5.72x	3.60x	3.53x	2.48x	2.71x	3.72x	3.74x	3.88x
Cash Conversion Cycle	55.82	-	-	-86.9	-	-	-	-	-	-
Total Non-Current Liabilities+	0	0	217.6K	211.35K	361.6K	105.87K	6.06K	203.17K	72.97K	29.42K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	361.6K	105.87K	6.06K	203.17K	72.97K	14.54K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	14.88K
Total Liabilities	798.42K	1.04M	1.43M	1.78M	3.27M	6.16M	5.99M	4.51M	4M	3.69M
Total Debt+	0	0	0	0	615.93K	362.47K	142.53K	413.44K	333.26K	132.25K
Net Debt	-5.17M	-5.6M	-4.72M	-3.93M	-6.22M	-11.69M	-11.62M	-12.15M	-10.71M	-10M
Debt / Equity	-	-	-	-	0.07x	0.03x	0.01x	0.03x	0.03x	0.01x
Debt / EBITDA	-	-	-	-	-	0.28x	0.12x	0.17x	3.14x	-
Net Debt / EBITDA	-1.88x	-7.20x	-3.95x	-	-	-9.09x	-9.53x	-5.02x	-100.81x	-
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	5.97M	6.25M	8.17M	6.7M	9.3M	10.81M	12.01M	13.03M	12.16M	11.75M
Equity Growth %	-	0.05%	0.31%	-0.18%	0.39%	0.16%	0.11%	0.08%	-0.07%	-0.03%
Book Value per Share	1.15	1.20	1.57	1.29	2.17	2.47	2.71	2.93	2.75	2.67
Total Shareholders' Equity	5.97M	6.15M	7.96M	6.49M	9.06M	10.2M	11.22M	11.7M	11.15M	10.7M
Common Stock	32K	32K	32K	32K	43.81K	43.81K	44.4K	44.4K	44.11K	29.23K
Retained Earnings	5.87M	6.38M	7.37M	6.42M	4.72M	5.31M	5.72M	6.42M	6.36M	5.9M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-148.49K	-480.66K	333.02K	-184.99K	-502.6K	45.64K	656.14K	115.14K	-381.12K	-368.84K
Minority Interest	-7.47K	101.8K	217.6K	211.35K	234.54K	606.94K	788.66K	1.33M	1.01M	1.06M

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	1.85M	1.29M	-441.65K	-513.31K	937.52K	2.33M	1.08M	1.61M	-767.31K	-965.59K
Operating CF Margin %	0.26%	0.25%	-0.07%	-0.1%	0.17%	0.27%	0.09%	0.15%	-0.11%	-0.16%
Operating CF Growth %	-	-0.3%	-1.34%	-0.16%	2.83%	1.48%	-0.54%	0.5%	-1.48%	-0.26%
Net Income	2.24M	617.23K	1.2M	-1.02M	-1.64M	1.02M	902.53K	1.67M	-55.29K	-372.85K
Depreciation & Amortization	125.91K	118.86K	121.93K	131.02K	164.94K	195.24K	179.21K	410.36K	346.79K	324.6K
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	33.27K	-92.03K	-155.84K	-106.43K	111.76K	-333.05K	-36.67K	270.09K	94.5K	9
Other Non-Cash Items	679.93K	112.18K	-2.42K	-287.17K	112.02K	177.86K	488.9K	-49.42K	74.33K	81.45K
Working Capital Changes	-624.42K	581.11K	-1.7M	244.39K	1.99M	1.13M	-458.79K	-1.24M	-1.23M	-998.81K
Change in Receivables	-355.21K	304.74K	-1.38M	-227.29K	1.23M	-1.42M	-132.91K	252.31K	-695.81K	-614.2K
Change in Inventory	885	-1.8K	1.83K	0	0	0	0	0	0	0
Change in Payables	4.95K	-27.86K	-106.9K	0	0	0	0	0	0	0
Cash from Investing+	144.65K	-580.72K	-1.26M	7.37K	-2.62M	2.36M	-1.68M	36.88K	-231.44K	-10.63K
Capital Expenditures	-155.65K	-75.68K	-556.28K	-350.28K	-75.04K	-74.24K	-35K	-37.24K	-95.02K	-10.88K
CapEx % of Revenue	0.02%	0.01%	0.09%	0.07%	0.01%	0.01%	0%	0%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	300.29K	-222.74K	-754.49K	292.42K	-2.54M	2.43M	-1.64M	-26.27K	-136.42K	249
Cash from Financing+	0	66.86K	351.33K	11.72K	4.85M	11.31K	-17.66K	0	0	63.02K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	66.86K	351.33K	11.72K	29.72K	11.31K	-17.66K	0	0	48.14K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.7M	1.22M	-997.92K	-863.59K	862.48K	2.25M	1.04M	1.58M	-862.33K	-976.47K
FCF Margin %	0.24%	0.24%	-0.17%	-0.16%	0.15%	0.26%	0.09%	0.15%	-0.12%	-0.16%
FCF Growth %	-	-0.28%	-1.82%	0.13%	2%	1.61%	-0.54%	0.51%	-1.55%	-0.13%
FCF per Share	0.33	0.23	-0.19	-0.17	0.20	0.51	0.23	0.35	-0.19	-0.22
FCF Conversion (FCF/Net Income)	0.83x	2.26x	-0.39x	0.54x	-0.57x	2.28x	1.45x	1.78x	13.88x	2.08x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	195K	135.43K	141.59K	91.52K	174.06K	13.72K	33.63K	34.33K	55.55K

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	37.53%	9.37%	15.87%	-12.73%	-20.52%	10.15%	6.51%	7.24%	-0.44%	-3.89%
Return on Invested Capital (ROIC)	247.41%	68.33%	39.22%	-29.87%	-40.28%	74.45%	200.54%	238.54%	-15.53%	-18.38%
Gross Margin	63.78%	58.41%	62.64%	46.73%	39.92%	53.06%	47.59%	53.19%	41.41%	41.65%
Net Margin	31.79%	11.07%	19.18%	-17.66%	-29.11%	11.99%	6.48%	8.47%	-0.77%	-7.52%
Debt / Equity	-	-	-	-	0.07x	0.03x	0.01x	0.03x	0.03x	0.01x
FCF Conversion	0.83x	2.26x	-0.39x	0.54x	-0.57x	2.28x	1.45x	1.78x	13.88x	2.08x
Revenue Growth	-	-26.55%	15.37%	-10.22%	5.21%	51.06%	34.75%	-6.81%	-32.45%	-14.35%

Revenue by Segment

	2022
RevenueMember	11.47M
RevenueMember Growth	-

Frequently Asked Questions

Growth & Financials

Wah Fu Education Group Limited (WAFU) reported $15.3M in revenue for fiscal year 2025. This represents a 117% increase from $7.0M in 2016.

Wah Fu Education Group Limited (WAFU) saw revenue decline by 14.4% over the past year.

Wah Fu Education Group Limited (WAFU) reported a net loss of $0.8M for fiscal year 2025.

Dividend & Returns

Wah Fu Education Group Limited (WAFU) has a return on equity (ROE) of -3.9%. Negative ROE indicates the company is unprofitable.

Wah Fu Education Group Limited (WAFU) had negative free cash flow of $0.8M in fiscal year 2025, likely due to heavy capital investments.

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Wah Fu Education Group Limited (WAFU) 10-Year Financial Performance & Capital Metrics

WAFU • • Industrial / General

Consumer DefensiveEducation & TrainingOnline Learning PlatformsEducational Technology & Content

Revenue $6M -14.4%
EBITDA -$68K -163.9%
Net Income -$465K -741.6%
EPS (Diluted) -0.11 -780.0%
Gross Margin 41.65% +0.6%
EBITDA Margin -1.1% -174.6%
Operating Margin -6.34% -90.5%
Net Margin -7.52% -882.6%
ROE -3.89% -786.4%
ROIC -18.38% -18.4%
Debt/Equity 0.01 -58.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.6x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.0%
✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y1.88%

3Y-18.61%

TTM-27.81%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-144.15%

EPS CAGR

10Y-

5Y-

3Y-

TTM-128.48%

ROCE

10Y Avg6.42%

5Y Avg6.09%

3Y Avg3.59%

Latest-3.27%

Peer Comparison

Educational Technology & Content

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOPEGrand Canyon Education, Inc.	5.03B	180.00	23.29	7.5%	19.38%	27.88%	5.02%	0.14
DAOYoudao, Inc.	390.07M	12.47	17.81	5.89%	4.07%
VSTAVasta Platform Limited	79.21M	4.96	0.82	12.64%	28.1%	10.01%	59.55%	0.24
MYNDMynd.ai, Inc.	20.22M	0.44	-0.02	-35.35%	-35.81%	-124.42%		2.64
CHGGChegg, Inc.	96.16M	0.88	-0.11	-13.78%	-17.14%	-52.54%	52.26%	2.61
YQ17 Education & Technology Group Inc.	22.43M	3.44	-0.14	10.67%	-96.33%	-39.99%		0.03
JZJianzhi Education Technology Group Company Limited	7.63M	0.99	-0.59	-43.52%	-24.83%	-5.25%		0.29
SKILSkillsoft Corp.	86.45M	9.87	-0.66	-4.02%	-26.02%	-33.66%	13.42%	6.28

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	7.04M	5.17M	5.97M	5.36M	5.64M	8.52M	11.47M	10.69M	7.22M	6.19M
Revenue Growth %	-	-0.27%	0.15%	-0.1%	0.05%	0.51%	0.35%	-0.07%	-0.32%	-0.14%
Cost of Goods Sold+	2.55M	2.15M	2.23M	2.85M	3.39M	4M	6.01M	5.01M	4.23M	3.61M
COGS % of Revenue	0.36%	0.42%	0.37%	0.53%	0.6%	0.47%	0.52%	0.47%	0.59%	0.58%
Gross Profit+	4.49M	3.02M	3.74M	2.5M	2.25M	4.52M	5.46M	5.69M	2.99M	2.58M
Gross Margin %	0.64%	0.58%	0.63%	0.47%	0.4%	0.53%	0.48%	0.53%	0.41%	0.42%
Gross Profit Growth %	-	-0.33%	0.24%	-0.33%	-0.1%	1.01%	0.21%	0.04%	-0.47%	-0.14%
Operating Expenses+	1.87M	2.36M	2.67M	3.74M	3.82M	3.43M	4.42M	3.67M	3.23M	2.97M
OpEx % of Revenue	0.27%	0.46%	0.45%	0.7%	0.68%	0.4%	0.39%	0.34%	0.45%	0.48%
Selling, General & Admin	1.87M	2.36M	2.67M	3.74M	3.82M	3.43M	4.42M	3.67M	3.23M	2.97M
SG&A % of Revenue	0.27%	0.46%	0.45%	0.7%	0.68%	0.4%	0.39%	0.34%	0.45%	0.48%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-7.24K	-11.14K	-3.4K	7.24K	-17.04K	-21.51K	-4.56K	0	0
Operating Income+	2.62M	658.81K	1.07M	-1.24M	-1.57M	1.09M	1.04M	2.01M	-240.52K	-392.46K
Operating Margin %	0.37%	0.13%	0.18%	-0.23%	-0.28%	0.13%	0.09%	0.19%	-0.03%	-0.06%
Operating Income Growth %	-	-0.75%	0.63%	-2.15%	-0.27%	1.69%	-0.05%	0.93%	-1.12%	-0.63%
EBITDA+	2.75M	777.67K	1.19M	-1.11M	-1.2M	1.29M	1.22M	2.42M	106.27K	-67.86K
EBITDA Margin %	0.39%	0.15%	0.2%	-0.21%	-0.21%	0.15%	0.11%	0.23%	0.01%	-0.01%
EBITDA Growth %	-	-0.72%	0.54%	-1.93%	-0.09%	2.07%	-0.05%	0.99%	-0.96%	-1.64%
D&A (Non-Cash Add-back)	125.91K	118.86K	121.93K	131.02K	366.69K	195.24K	179.21K	410.36K	346.79K	324.6K
EBIT	2.62M	723.18K	1.3M	-1.24M	-1.57M	1.09M	1.04M	2.01M	-240.52K	-392.46K
Net Interest Income+	0	107.78K	177.72K	126.66K	135.36K	127.14K	122.18K	139.34K	155.36K	169.64K
Interest Income	114.05K	107.78K	177.72K	126.66K	135.36K	127.14K	122.18K	139.34K	155.36K	169.64K
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	43.61K	64.37K	223.01K	123.26K	142.59K	110.09K	100.67K	91K	-5.45K	119.72K
Pretax Income+	2.67M	723.18K	1.3M	-1.12M	-1.43M	1.2M	1.14M	2.1M	-245.97K	-272.74K
Pretax Margin %	0.38%	0.14%	0.22%	-0.21%	-0.25%	0.14%	0.1%	0.2%	-0.03%	-0.04%
Income Tax+	434.31K	105.95K	92.02K	-96.8K	212.5K	180.33K	238.88K	430.53K	130.89K	100.1K
Effective Tax Rate %	0.84%	0.79%	0.88%	0.85%	1.15%	0.85%	0.65%	0.43%	0.22%	1.71%
Net Income+	2.24M	572.7K	1.14M	-946.18K	-1.64M	1.02M	743.13K	905.89K	-55.29K	-465.3K
Net Margin %	0.32%	0.11%	0.19%	-0.18%	-0.29%	0.12%	0.06%	0.08%	-0.01%	-0.08%
Net Income Growth %	-	-0.74%	1%	-1.83%	-0.73%	1.62%	-0.27%	0.22%	-1.06%	-7.42%
Net Income (Continuing)	2.23M	617.23K	1.2M	-1.02M	-1.64M	1.02M	902.53K	1.67M	-376.86K	-372.85K
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-7.47K	101.8K	217.6K	211.35K	234.54K	606.94K	788.66K	1.33M	1.01M	1.06M
EPS (Diluted)+	0.43	0.11	0.22	-0.18	-0.38	0.23	0.17	0.20	-0.01	-0.11
EPS Growth %	-	-0.74%	1%	-1.82%	-1.11%	1.61%	-0.26%	0.18%	-1.06%	-7.8%
EPS (Basic)	0.43	0.11	0.22	-0.18	-0.38	0.23	0.17	0.20	-0.01	-0.11
Diluted Shares Outstanding	5.2M	5.2M	5.2M	5.2M	4.29M	4.38M	4.44M	4.44M	4.43M	4.41M
Basic Shares Outstanding	5.2M	5.2M	5.2M	5.2M	4.29M	4.38M	4.44M	4.44M	4.43M	4.41M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	6.34M	6.61M	8.21M	6.84M	10.25M	15.03M	16.2M	16M	14.67M	14.23M
Cash & Short-Term Investments	5.17M	5.6M	4.72M	3.93M	6.83M	12.05M	11.76M	12.57M	11.05M	10.13M
Cash Only	5.17M	5.6M	4.72M	3.93M	6.83M	12.05M	11.76M	12.57M	11.05M	10.13M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.1M	972.95K	2.07M	2.35M	3.27M	2.84M	4.35M	3.36M	3.53M	4M
Days Sales Outstanding	56.77	68.65	126.55	159.88	211.51	121.7	138.32	114.66	178.45	236.1
Inventory	7.53K	8.8K	7.73K	417.1K	0	0	0	0	0	0
Days Inventory Outstanding	1.08	1.49	1.27	53.34	-	-	-	-	-	-
Other Current Assets	67.13K	0	337.11K	146.06K	150.21K	139.94K	90.63K	69.1K	95.58K	94.95K
Total Non-Current Assets+	423.21K	679.46K	1.4M	1.64M	2.31M	1.94M	1.8M	1.54M	1.48M	1.22M
Property, Plant & Equipment	256.71K	193.38K	667.02K	868.8K	1.38M	1.13M	869.42K	886.44K	827.55K	552.29K
Fixed Asset Turnover	27.43x	26.75x	8.95x	6.17x	4.09x	7.53x	13.20x	12.06x	8.73x	11.20x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	29.76K	0	0	0	137.99K	54.38K	7.46K	0
Long-Term Investments	113.58K	346.68K	384.18K	283.11K	10.98K	11.88K	12.28K	171K	138.5K	137.8K
Other Non-Current Assets	52.92K	139.4K	0	492.87K	652.38K	157.93K	84.09K	56.04K	247.53K	268.82K
Total Assets+	6.76M	7.29M	9.61M	8.48M	12.57M	16.97M	18M	17.54M	16.16M	15.45M
Asset Turnover	1.04x	0.71x	0.62x	0.63x	0.45x	0.50x	0.64x	0.61x	0.45x	0.40x
Asset Growth %	-	0.08%	0.32%	-0.12%	0.48%	0.35%	0.06%	-0.03%	-0.08%	-0.04%
Total Current Liabilities+	798.42K	1.04M	1.43M	1.78M	2.9M	6.06M	5.99M	4.31M	3.92M	3.66M
Accounts Payable	14.22K	0	0	2.35M	0	0	108.73K	233.47K	210.35K	154.26K
Days Payables Outstanding	2.03	-	-	300.12	-	-	6.6	17.02	18.14	15.6
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	234.88K	518.7K	341.44K	620.33K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	313.82K	0	0	0	0	0	1.5M	1.57M	1.46M	0
Current Ratio	7.94x	6.37x	5.72x	3.83x	3.53x	2.48x	2.71x	3.72x	3.74x	3.88x
Quick Ratio	7.93x	6.36x	5.72x	3.60x	3.53x	2.48x	2.71x	3.72x	3.74x	3.88x
Cash Conversion Cycle	55.82	-	-	-86.9	-	-	-	-	-	-
Total Non-Current Liabilities+	0	0	217.6K	211.35K	361.6K	105.87K	6.06K	203.17K	72.97K	29.42K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	361.6K	105.87K	6.06K	203.17K	72.97K	14.54K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	14.88K
Total Liabilities	798.42K	1.04M	1.43M	1.78M	3.27M	6.16M	5.99M	4.51M	4M	3.69M
Total Debt+	0	0	0	0	615.93K	362.47K	142.53K	413.44K	333.26K	132.25K
Net Debt	-5.17M	-5.6M	-4.72M	-3.93M	-6.22M	-11.69M	-11.62M	-12.15M	-10.71M	-10M
Debt / Equity	-	-	-	-	0.07x	0.03x	0.01x	0.03x	0.03x	0.01x
Debt / EBITDA	-	-	-	-	-	0.28x	0.12x	0.17x	3.14x	-
Net Debt / EBITDA	-1.88x	-7.20x	-3.95x	-	-	-9.09x	-9.53x	-5.02x	-100.81x	-
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	5.97M	6.25M	8.17M	6.7M	9.3M	10.81M	12.01M	13.03M	12.16M	11.75M
Equity Growth %	-	0.05%	0.31%	-0.18%	0.39%	0.16%	0.11%	0.08%	-0.07%	-0.03%
Book Value per Share	1.15	1.20	1.57	1.29	2.17	2.47	2.71	2.93	2.75	2.67
Total Shareholders' Equity	5.97M	6.15M	7.96M	6.49M	9.06M	10.2M	11.22M	11.7M	11.15M	10.7M
Common Stock	32K	32K	32K	32K	43.81K	43.81K	44.4K	44.4K	44.11K	29.23K
Retained Earnings	5.87M	6.38M	7.37M	6.42M	4.72M	5.31M	5.72M	6.42M	6.36M	5.9M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-148.49K	-480.66K	333.02K	-184.99K	-502.6K	45.64K	656.14K	115.14K	-381.12K	-368.84K
Minority Interest	-7.47K	101.8K	217.6K	211.35K	234.54K	606.94K	788.66K	1.33M	1.01M	1.06M

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	1.85M	1.29M	-441.65K	-513.31K	937.52K	2.33M	1.08M	1.61M	-767.31K	-965.59K
Operating CF Margin %	0.26%	0.25%	-0.07%	-0.1%	0.17%	0.27%	0.09%	0.15%	-0.11%	-0.16%
Operating CF Growth %	-	-0.3%	-1.34%	-0.16%	2.83%	1.48%	-0.54%	0.5%	-1.48%	-0.26%
Net Income	2.24M	617.23K	1.2M	-1.02M	-1.64M	1.02M	902.53K	1.67M	-55.29K	-372.85K
Depreciation & Amortization	125.91K	118.86K	121.93K	131.02K	164.94K	195.24K	179.21K	410.36K	346.79K	324.6K
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	33.27K	-92.03K	-155.84K	-106.43K	111.76K	-333.05K	-36.67K	270.09K	94.5K	9
Other Non-Cash Items	679.93K	112.18K	-2.42K	-287.17K	112.02K	177.86K	488.9K	-49.42K	74.33K	81.45K
Working Capital Changes	-624.42K	581.11K	-1.7M	244.39K	1.99M	1.13M	-458.79K	-1.24M	-1.23M	-998.81K
Change in Receivables	-355.21K	304.74K	-1.38M	-227.29K	1.23M	-1.42M	-132.91K	252.31K	-695.81K	-614.2K
Change in Inventory	885	-1.8K	1.83K	0	0	0	0	0	0	0
Change in Payables	4.95K	-27.86K	-106.9K	0	0	0	0	0	0	0
Cash from Investing+	144.65K	-580.72K	-1.26M	7.37K	-2.62M	2.36M	-1.68M	36.88K	-231.44K	-10.63K
Capital Expenditures	-155.65K	-75.68K	-556.28K	-350.28K	-75.04K	-74.24K	-35K	-37.24K	-95.02K	-10.88K
CapEx % of Revenue	0.02%	0.01%	0.09%	0.07%	0.01%	0.01%	0%	0%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	300.29K	-222.74K	-754.49K	292.42K	-2.54M	2.43M	-1.64M	-26.27K	-136.42K	249
Cash from Financing+	0	66.86K	351.33K	11.72K	4.85M	11.31K	-17.66K	0	0	63.02K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	66.86K	351.33K	11.72K	29.72K	11.31K	-17.66K	0	0	48.14K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.7M	1.22M	-997.92K	-863.59K	862.48K	2.25M	1.04M	1.58M	-862.33K	-976.47K
FCF Margin %	0.24%	0.24%	-0.17%	-0.16%	0.15%	0.26%	0.09%	0.15%	-0.12%	-0.16%
FCF Growth %	-	-0.28%	-1.82%	0.13%	2%	1.61%	-0.54%	0.51%	-1.55%	-0.13%
FCF per Share	0.33	0.23	-0.19	-0.17	0.20	0.51	0.23	0.35	-0.19	-0.22
FCF Conversion (FCF/Net Income)	0.83x	2.26x	-0.39x	0.54x	-0.57x	2.28x	1.45x	1.78x	13.88x	2.08x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	195K	135.43K	141.59K	91.52K	174.06K	13.72K	33.63K	34.33K	55.55K

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	37.53%	9.37%	15.87%	-12.73%	-20.52%	10.15%	6.51%	7.24%	-0.44%	-3.89%
Return on Invested Capital (ROIC)	247.41%	68.33%	39.22%	-29.87%	-40.28%	74.45%	200.54%	238.54%	-15.53%	-18.38%
Gross Margin	63.78%	58.41%	62.64%	46.73%	39.92%	53.06%	47.59%	53.19%	41.41%	41.65%
Net Margin	31.79%	11.07%	19.18%	-17.66%	-29.11%	11.99%	6.48%	8.47%	-0.77%	-7.52%
Debt / Equity	-	-	-	-	0.07x	0.03x	0.01x	0.03x	0.03x	0.01x
FCF Conversion	0.83x	2.26x	-0.39x	0.54x	-0.57x	2.28x	1.45x	1.78x	13.88x	2.08x
Revenue Growth	-	-26.55%	15.37%	-10.22%	5.21%	51.06%	34.75%	-6.81%	-32.45%	-14.35%

Revenue by Segment

	2022
RevenueMember	11.47M
RevenueMember Growth	-

Frequently Asked Questions

Growth & Financials

Wah Fu Education Group Limited (WAFU) reported $15.3M in revenue for fiscal year 2025. This represents a 117% increase from $7.0M in 2016.

Wah Fu Education Group Limited (WAFU) saw revenue decline by 14.4% over the past year.

Wah Fu Education Group Limited (WAFU) reported a net loss of $0.8M for fiscal year 2025.

Dividend & Returns

Wah Fu Education Group Limited (WAFU) has a return on equity (ROE) of -3.9%. Negative ROE indicates the company is unprofitable.

Wah Fu Education Group Limited (WAFU) had negative free cash flow of $0.8M in fiscal year 2025, likely due to heavy capital investments.