Revenue plummeted 91.6% year-over-year in 2025Q2, while historical margin volatility reached a nadir with a -60.0% gross margin in 2024Q4.
| Sales/Revenue | 1.12B | 1.76B | 2.12B | 1.44B | 1.4B | 3.37B | 2.56B | 1.72B | 1.33B | 1.04B | 745.85M | 588.16M |
| Revenue Growth % | -47.93% | -17.35% | 47.56% | 2.68% | -58.36% | 31.35% | 49.11% | 29.4% | 27.69% | 39.48% | 26.81% | - |
| Cost of Goods Sold | 845.74M | 1.25B | 1.53B | 1.24B | 1.18B | 2.14B | 1.59B | 1.09B | 860.33M | 736.21M | 655.6M | 501.88M |
| COGS % of Revenue | - | 71.31% | 71.87% | 85.93% | 84.2% | 63.71% | 61.88% | 63.45% | 64.77% | 70.77% | 87.9% | 85.33% |
| Gross Profit | 272.03M | 503.59M | 597.33M | 478.11M | 221.52M | 1.22B | 976.99M | 628.28M | 468.04M | 304.12M | 90.25M | 86.28M |
| Gross Margin % | 24.34% | 28.69% | 28.13% | 33.22% | 15.8% | 36.29% | 38.12% | 36.55% | 35.23% | 29.23% | 12.1% | 14.67% |
| Gross Profit Growth % | - | -15.69% | 24.94% | 115.83% | -81.87% | 25.05% | 55.5% | 34.24% | 53.9% | 236.97% | 4.6% | - |
| Operating Expenses | 1.14B | 1.32B | 783.91M | 534.55M | 510.91M | 832.49M | 676.47M | 356.11M | 253.1M | 285.81M | 160.84M | 122.16M |
| OpEx % of Revenue | - | 75.43% | 36.91% | 37.14% | 36.45% | 24.73% | 26.39% | 20.72% | 19.05% | 27.47% | 21.56% | 20.77% |
| Selling, General & Admin | 273.12M | 469.05M | 617.18M | 539.89M | 535.88M | 871.15M | 691.9M | 368.14M | 261.97M | 290.1M | 166.08M | 125.78M |
| SG&A % of Revenue | - | 26.72% | 29.06% | 37.51% | 38.23% | 25.88% | 27% | 21.42% | 19.72% | 27.89% | 22.27% | 21.39% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 633K | 854.98M | 166.73M | -5.34M | -24.97M | -38.66M | -15.44M | -4.8M | -779K | -457K | -455K | -61K |
| Operating Income | -979.66M | -820.44M | -186.58M | -632.59M | -389.7M | 166.62M | 152.29M | 272.16M | 214.94M | 18.31M | -70.58M | -35.88M |
| Operating Margin % | -87.64% | -46.74% | -8.79% | -43.95% | -27.8% | 4.95% | 5.94% | 15.83% | 16.18% | 1.76% | -9.46% | -6.1% |
| Operating Income Growth % | - | -339.72% | 70.51% | -62.33% | -333.89% | 9.41% | -44.04% | 26.62% | 1073.95% | 125.94% | -96.74% | - |
| EBITDA | -923.98M | -757.36M | -102.66M | -516.66M | -167.96M | 364.04M | 283.11M | 358.04M | 293M | 90.4M | -13.47M | -2.41M |
| EBITDA Margin % | -82.66% | -43.15% | -4.83% | -35.9% | -11.98% | 10.81% | 11.05% | 20.83% | 22.06% | 8.69% | -1.81% | -0.41% |
| EBITDA Growth % | -1262.9% | -637.71% | 80.13% | -207.61% | -146.14% | 28.59% | -20.93% | 22.2% | 224.1% | 770.89% | -458.9% | - |
| D&A (Non-Cash Add-back) | 55.69M | 63.09M | 83.92M | 115.93M | 221.74M | 197.43M | 130.82M | 85.88M | 78.06M | 72.09M | 57.11M | 33.47M |
| EBIT | 12.04M | -826.97M | -193.2M | -477.03M | -304.16M | -111.03M | -190.83M | 272.16M | 214.94M | 18.31M | -70.58M | -35.88M |
| Net Interest Income | 1.41M | -1.31M | -7.37M | 8.32M | -169.69M | -162.91M | 19.68M | 27.3M | 4.9M | 2.15M | 1.81M | 1.6M |
| Interest Income | 1.43M | 0 | 0 | 7.47M | 0 | 108.75M | 33.86M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 22K | 1.31M | 7.37M | 0 | 169.69M | 0 | 0 | 27.3M | 4.9M | 2.15M | 1.81M | 1.6M |
| Other Income/Expense | -4.15M | -15.72M | 13.64M | 752K | -51.27M | -119.11M | 28.83M | 44.16M | 17.84M | 2.5M | 1.35M | 1.53M |
| Pretax Income | -984.29M | -836.16M | -172.95M | -631.84M | -439.95M | 243.76M | 333.58M | 316.32M | 232.78M | 20.8M | -69.23M | -34.34M |
| Pretax Margin % | -88.06% | -47.64% | -8.14% | -43.9% | -31.39% | 7.24% | 13.02% | 18.4% | 17.52% | 2% | -9.28% | -5.84% |
| Income Tax | 20.05M | 32.91M | 185.92M | 55.14M | 94.18M | 78.99M | 80.58M | 67.38M | 40.97M | 17.89M | -29.32M | 3.77M |
| Effective Tax Rate % | -2.04% | -3.94% | -107.5% | -8.73% | -21.41% | 32.41% | 24.16% | 21.3% | 17.6% | 85.98% | 42.35% | -10.99% |
| Net Income | -1.02B | -996.28M | -395.13M | -709.34M | -52.8M | 161M | 241.1M | 246.97M | 172.05M | -36.37M | -40.08M | -32.89M |
| Net Margin % | -90.92% | -56.76% | -18.61% | -49.28% | -3.77% | 4.78% | 9.41% | 14.37% | 12.95% | -3.5% | -5.37% | -5.59% |
| Net Income Growth % | -212.64% | -152.14% | 44.3% | -1243.32% | -132.8% | -33.22% | -2.38% | 43.54% | 573% | 9.24% | -21.87% | - |
| Net Income (Continuing) | -864.64M | -869.07M | -358.86M | -686.98M | -535.15M | 0 | -227.15M | 248.9M | 191.81M | 2.92M | -39.91M | -38.12M |
| Discontinued Operations | 0 | -163.79M | -35.45M | -22.99M | 369.34M | 471.5M | 479.91M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 11.07M | 89.3M | 155.05M | 225.64M | 260.05M | 386.45M | 361.83M | 170.02M | 3.33M | 44.83M | 5.54M | -2.49M |
| EPS (Diluted) | -136.27 | -134.32 | -53.28 | -92.52 | -0.80 | 21.44 | 31.52 | 32.32 | 26.24 | -6.00 | -6.92 | -5.68 |
| EPS Growth % | -243.58% | -152.1% | 42.41% | -11465% | -103.73% | -31.98% | -2.48% | 23.17% | 537.33% | 13.29% | -21.83% | - |
| EPS (Basic) | - | -114.84 | -48.48 | -92.52 | -0.80 | 3.04 | 31.24 | 32.36 | 26.24 | -6.08 | -6.92 | -5.68 |
| Diluted Shares Outstanding | 7.46M | 7.42M | 7.42M | 7.42M | 7.45M | 7.51M | 7.65M | 7.64M | 6.55M | 6.06M | 5.79M | 5.79M |
| Basic Shares Outstanding | 7.42M | 8.68M | 8.15M | 7.67M | 7.45M | 7.51M | 7.72M | 7.64M | 6.56M | 5.98M | 5.79M | 5.79M |
| Dividend Payout Ratio | - | - | - | - | - | 114.43% | - | - | - | - | - | - |
Regulatory and enrollment volatility
As reported in recent financial filings, BEDU's revenue experienced a severe 91.6% year-over-year decline in 2025Q2, signaling a profound erosion of the company's top-line scale that appears to transcend typical seasonal fluctuations or minor market adjustments within the Chinese private education sector.
The precipitous drop in revenue suggests that the company's core enrollment pipeline is facing significant disruption, likely exacerbated by the regulatory environment and the broader real estate downturn. Investors should monitor whether this trajectory represents a permanent downsizing of the school network or a temporary inability to recognize tuition revenue due to shifting operational constraints.
Based on the provided income statement data, BEDU's gross margin has fluctuated wildly, reaching a low of -60.0% in 2024Q4, which highlights the extreme difficulty in maintaining profitability when fixed facility costs are not adequately covered by declining student enrollment levels.
The inability to maintain consistent gross margins suggests that the company lacks the pricing power necessary to offset rising instructional costs or declining utilization rates. This structural weakness implies that the current business model may be fundamentally misaligned with the high-fixed-cost nature of operating physical school campuses in the current regulatory climate.
According to the company's historical income statements, the operating margin has frequently dipped into negative territory, including a -51.1% reading in 2023Q4, demonstrating that SG&A expenses are not scaling efficiently relative to the company's volatile and contracting revenue base.
The lack of positive operating leverage suggests that management has struggled to rationalize administrative overhead in response to the sharp revenue declines observed over the last ten quarters. This persistent inefficiency warrants further investigation into whether the company's cost structure is inherently too rigid to survive a prolonged period of enrollment contraction.
Data from recent quarterly reports indicates that BEDU's net income has been subject to massive, non-recurring impairments, such as the nearly $1 billion loss in 2024Q4, which raises significant questions regarding the long-term viability of the company's international and domestic asset portfolio.
Short-sellers would likely focus on the disconnect between the company's reported cash position and its inability to generate consistent operating income. The recurring nature of these large losses suggests that the company may be facing a fundamental breakdown in its ability to monetize its educational assets, potentially necessitating further asset divestitures or restructuring.
Quick answers to the most common questions about buying BEDU stock.
For fiscal year 2024, Bright Scholar Education Holdings Limited (BEDU) reported total revenue of $1.76B. This represents a 198.4% increase compared to $588.2M in 2014.
Bright Scholar Education Holdings Limited (BEDU) reported a net loss of $996.3M for the fiscal year ending 2024.
Bright Scholar Education Holdings Limited (BEDU) reported an operating income of $-820.4M, resulting in an operating profit margin of -46.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Bright Scholar Education Holdings Limited (BEDU) generated $503.6M in gross profit for the year, representing a gross profit margin of 28.7%. This demonstrates the company's core pricing power and production efficiency.