EDUCATIONAL DEVELOPMENT CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data EDUCATIONAL DEVELOPMENT CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	107	112	119	113	205	142	87.8	51	34.2	22.9
Cost of revenue	28.6	35.8	39.1	36.9	60	44.3	31.8	18	13.2	9.31
Gross profit	78	76.2	79.7	76.1	145	97.9	56.1	33	21	13.6
Selling, general and administrative	23.1	17.7	18.6	18.6	36.1	23	15.8	8.79	5.75	3.46
General and administrative	15.9	15.7	16.2	15.5	22.5	20.3	17.2	14	12	10.9
Operating expenses	74.1	68.8	71.2	69.1	129	87.7	58.7	38.9	27.8	20.8
Interest expense	1.03	1.12	0.93	0.89	0.56	0.92	2.17	2.76	2.19	1.48
Other non-operating income							1.33	9.39	2.11	14
Pre-tax income	4.61	7.83	9.18	7.75	17.2	11.2	-3.43	0.73	-6.86	5.35
Income tax	1.75	2.62	2.5	2.11	4.61	2.93	-0.92	0.19	-1.59	3.02
Net income	2.86	5.21	6.68	5.65	12.6	8.31	-2.5	0.55	-5.26	2.33
EPS, basic	0.44	0.64	0.82	0.68	1.51	1.03	-0.31	0.07	-0.63	0.27
EPS, diluted	0.44	0.64	0.81	0.68	1.50	0.98	-0.31	0.07	-0.63	0.27
Shares, basic (weighted)	6.52	8.18	8.19	8.32	8.35	8.04	8.16	8.27	8.35	8.56
Shares, diluted (weighted)	6.53	8.18	8.2	8.32	8.43	8.45	8.16	8.29	8.35	8.56
Dividend per share		0.00	0.20	0.20	0.32	0.40	0.00	0.00	0.00	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	0.7	2.72	3.2	3	1.81	0.36	0.69	0.84	0.43	1.12
Receivables	2.92	2.91	3.26	2.97	3.35	3.64	2.91	1.94	2.13	0.86
Inventory	34.3	26.6	33.4	30.1	51.8	71.6	59.1	43.9	29.1	17.4
Other current assets	0.7	1.26	1.6	0.95	1.22	0.96	0.87	0.63	0.77	0.37
Total current assets	38.6	33.5	41.5	37.2	58.1	76.5	63.6	66	52.2	20.6
Property, plant and equipment	27	27.9	27.2	26.4	30	30.5	29.7	8.94	6.4	6.29
Lease right-of-use assets				0.05	0.03	0.5	0.82	1.61	1.11	6.72
Other non-current assets	0.06	0.03	0.02	0.08	0.07	0.76	0.39	0.43	0.43	0.5
Total assets	66	61.8	69.3	64.7	88.9	110	99.9	90.1	78.3	54.3
Accounts payable	17.6	12.5	14.2	9.66	19.7	12.4	3.86	3.91	1.85	1.69
Accrued liabilities	1.18	0.63	0.83	0.82	1.7	1.61	1.19	1.39	0.9	0.27
Deferred revenue	0.63	0.69	0.97	0.39	2.48	0.68	0.6	0.58	0.49	0.32
Short-term debt	0.9	0.95	0.95	1.03	0.53	2.54	34.9	1.8	26.7	0
Total current liabilities	30.1	21.4	23.5	16.4	37.9	40.3	54.1	17	37.2	6.17
Long-term debt	20.7	18.8	18.8	17.8	10.5	22.4	0	26.6	0	0
Lease liabilities				0.03	0.02	0.38	0.48	0.89	0.41	5.34
Other non-current liabilities	0	0.11	0.11	0.15	0.13	0.5	0.11	0.11	0.11	0.01
Total liabilities	50.8	41.4	43.3	35.3	48.6	63.2	54.7	44.7	37.7	11.5
Total debt	21.6	19.8	19.8	18.8	11	25	35.1	28.6	26.8	0
Paid-in capital	8.55	8.57	8.98	9.84	10.9	12.2	13.2	13.4	13.8	13.8
Retained earnings	16.3	20.7	25.8	29.7	39.7	44.5	42	42.6	37.3	39.6
Treasury stock	-10.9	-11.3	-11.2	-12.7	-12.8	-12.5	-12.5	-13.1	-13.1	-13.1
Other comprehensive income							0	0.02	-0.02	0
Shareholders' equity	15.2	20.4	25.9	29.4	40.3	46.8	45.2	45.5	40.6	42.8
Total equity	15.2	20.4	25.9	29.4	40.3	46.8	45.2	45.5	40.6	42.8
Total liabilities and equity	66	61.8	69.3	64.7	88.9	110	99.9	90.1	78.3	54.3
Shares outstanding	6.54	8.18	8.2	8.35	8.35	8.71	8.71	8.58	8.58	8.51

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	2.86	5.21	6.68	5.65	12.6	8.31	-2.5	0.55	-5.26	2.33
Depreciation and amortization	1.08	1.25	1.46	1.43	1.63	2.13	2.48	2.49	1.72	1.39
Stock-based compensation		0	0.4	0.67	0.94	1.05	0.91	0.21	0.4	0
Deferred income tax	0.22	0.26	0.74	0.12	0.47	-0.36	-0.92	0.19	-1.59	2.7
Change in receivables	-0.69	-0.41	-0.42	0.23	-0.52	-0.41	0.73	0.94	-0.24	1.23
Change in inventory	-16.8	7.08	-7.11	2.6	-21.5	-21.4	9.09	8.13	10.8	6.88
Change in payables	11.4	-5.1	2.4	-4.57	8.95	-6.2	-8.55	0.05	-2.06	-0.16
Cash from operations	-1.57	9.23	3.95	4.24	7.82	-21.1	0.06	8.75	3.21	2.01
Capital expenditures	-2.49	-1.44	-1.4	-0.64	-4.15	-3.72	-1.58	-0.82	-0.44	-0.54
Cash from investing	-2.49	-1.44	-1.4	-0.64	-4.15	-3.94	-1.76	4.04	-0.43	29.4
Debt issued	4	1.02	0	0	1.45	15.2	36	0
Debt repaid	-0.74	-1.88	-0.93	-0.96	-9.27	-1.28	-25.9	-6.5	-1.8	-26.7
Stock issued	0	0.03	0	0.03	0
Share buybacks							0	-0.56	-0	-0.14
Dividends paid	-1.47	0	-1.23	-1.66	-2.26	-3.43	-0.87	0
Cash from financing	3.57	-5.77	-2.07	-3.81	-4.86	23.6	2.03	-12.2	-3.08	-31
Net change in cash	-0.48	2.02	0.48	-0.2	-1.19	-1.45	0.33	0.59	-0.3	0.36
Free cash flow	-4.06	7.8	2.55	3.61	3.67	-24.9	-1.52	7.93	2.77	1.46
Interest paid	1.01	1.12	0.93	0.9	0.58	0.89	1.99	2.81	2.16	1.34
Income taxes paid	0.54	2.07	2.87	3.08	4.81	2.97	-0	0.02	-0.27	-0.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to May 31, 2026; growth uses fiscal years. Valuation uses the share price of $1.30 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	59.8%	Gross profit / revenue.
Pre-tax margin	26.3%	Pre-tax income / revenue.
Net margin	9.7%	Net income / revenue.
FCF margin	3.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	5.7%	Cash from operations / revenue.
Effective tax rate	63.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.8%	Net income / average total assets.
SG&A / revenue	15.3%	Selling, general and administrative expense / revenue.
Capex / revenue	2.1%	Capital expenditures / revenue.
D&A / revenue	6.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-33.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-36.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-35.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-35.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-37.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-37.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 5y	-28.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 5y	-29.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-37.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	224.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-23.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-47.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-16.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	5.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-30.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-18.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-9.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	2.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.20x	Current assets / current liabilities.
Quick ratio	0.37x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.27x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	21.7%	Total liabilities / total assets.
Working capital	$13.3M	Current assets - current liabilities.
Tangible book value	$41.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.39x	Revenue / average total assets.
Fixed asset turnover	3.36x	Revenue / average property, plant and equipment.
Inventory turnover	0.52x	Cost of revenue / average inventory.
Days inventory	708 days	365 x average inventory / cost of revenue.
Receivables turnover	36.0x	Revenue / average receivables.
Days sales outstanding	10 days	365 x average receivables / revenue.
Days payables	71 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	647 days	Days inventory + days sales outstanding - days payables.
FCF conversion	37.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	36.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.23	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$2.42	Revenue / diluted weighted shares.
FCF per share	$0.09	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.14	Cash from operations / diluted weighted shares.
Book value per share	$4.86	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.86	Tangible book value / shares outstanding.
Cash per share	$0.20	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$11.1M	Share price x shares outstanding.
Enterprise value	$9.4M	Market cap + total debt - cash - short-term investments.
P/E	5.53x	Market cap / net income. Only when net income is positive.
P/S	0.54x	Market cap / revenue.
P/B	0.27x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.27x	Market cap / tangible book value, when positive.
P/FCF	14.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.45x	Market cap / cash from operations, when positive.
EV/Sales	0.46x	Enterprise value / revenue.
EV/FCF	12.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.7%	Free cash flow / market cap.
Earnings yield	18.1%	Net income / market cap (the inverse of P/E).

What was EDUCATIONAL DEVELOPMENT CORP's revenue in fiscal 2026?

EDUCATIONAL DEVELOPMENT CORP reported revenue of $22.9M for fiscal 2026, 33% lower than the year before.

Was EDUCATIONAL DEVELOPMENT CORP profitable in fiscal 2026?

Yes. Net income was $2.3M, a net margin of 10.1%.

How much free cash flow did EDUCATIONAL DEVELOPMENT CORP generate in fiscal 2026?

Cash from operations of $2.0M minus capital expenditures of $542.8K left free cash flow of $1.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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