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Graham vs TAL Education: revenue, profit, margins and growth compared

Graham brought in $4.9B of revenue in fiscal 2025, TAL Education $3B in fiscal 2026. Revenue changed by +2.5% at Graham and +33.7% at TAL Education on the year before, so TAL Education grew faster. Graham kept 6.0% of its revenue as net profit, TAL Education 17.6%. Free cash flow was $275.3M at Graham and $508.3M at TAL Education.

Side by side, latest fiscal year

GHCTAL
Fiscal year endedFY2025 (December 31, 2025)FY2026 (February 28, 2026)
Revenue$4.9B$3B
Revenue growth+2.5%+33.7%
Net income$292.3M$530.8M
Net margin6.0%17.6%
Free cash flow$275.3M$508.3M
Free cash flow margin5.6%16.9%
Earnings per share (diluted)$66.47$2.75
Cash$267M$1.5B
Debt$880.8Mn/a
Price to earnings17.4n/a
Market value$4.9B$6.7B
Dividend yield0.62%n/a
Rank by revenue in sector#12 of 162 · Real estate#21 of 162 · Real estate

Over the years

Revenue
GHC FY2018: $2.7BGHC FY2019: $2.9BGHC FY2020: $2.9BGHC FY2021: $3.2BGHC FY2022: $3.9BGHC FY2023: $4.4BGHC FY2024: $4.8BGHC FY2025: $4.9BTAL FY2019: $2.6BTAL FY2020: $3.3BTAL FY2021: $4.5BTAL FY2022: $4.4BTAL FY2023: $1BTAL FY2024: $1.5BTAL FY2025: $2.3BTAL FY2026: $3BFY18FY19FY20FY21FY22FY23FY24FY25FY26
GHC $4.9BTAL $3B
Net income
GHC FY2018: $271.2MGHC FY2019: $327.9MGHC FY2020: $300.4MGHC FY2021: $352.1MGHC FY2022: $67.1MGHC FY2023: $205.3MGHC FY2024: $724.6MGHC FY2025: $292.3MTAL FY2019: $367.2MTAL FY2020: -$110.2MTAL FY2021: -$116MTAL FY2022: -$1.1BTAL FY2023: -$135.6MTAL FY2024: -$3.6MTAL FY2025: $84.6MTAL FY2026: $530.8MFY18FY19FY20FY21FY22FY23FY24FY25FY26
GHC $292.3MTAL $530.8M
Net margin
GHC FY2018: 10.1%GHC FY2019: 11.2%GHC FY2020: 10.4%GHC FY2021: 11.1%GHC FY2022: 1.7%GHC FY2023: 4.6%GHC FY2024: 15.1%GHC FY2025: 6.0%TAL FY2019: 14.3%TAL FY2020: -3.4%TAL FY2021: -2.6%TAL FY2022: -25.9%TAL FY2023: -13.3%TAL FY2024: -0.2%TAL FY2025: 3.8%TAL FY2026: 17.6%FY18FY19FY20FY21FY22FY23FY24FY25FY26
GHC 6.0%TAL 17.6%
Revenue growth
GHC FY2019: +8.8%GHC FY2020: -1.5%GHC FY2021: +10.3%GHC FY2022: +23.2%GHC FY2023: +12.5%GHC FY2024: +8.5%GHC FY2025: +2.5%TAL FY2020: +27.7%TAL FY2021: +37.3%TAL FY2022: -2.3%TAL FY2023: -76.8%TAL FY2024: +46.2%TAL FY2025: +51.0%TAL FY2026: +33.7%FY19FY20FY21FY22FY23FY24FY25FY26
GHC +2.5%TAL +33.7%
Free cash flow
GHC FY2018: $188.8MGHC FY2019: $71.7MGHC FY2020: $141.1MGHC FY2021: $39.9MGHC FY2022: $152.9MGHC FY2023: $166.4MGHC FY2024: $324.1MGHC FY2025: $275.3MTAL FY2019: $56MTAL FY2020: $677.8MTAL FY2021: $709.7MTAL FY2022: -$1.2BTAL FY2023: -$103MTAL FY2024: $193.4MTAL FY2025: $286.2MTAL FY2026: $508.3MFY18FY19FY20FY21FY22FY23FY24FY25FY26
GHC $275.3MTAL $508.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Graham and TAL Education

Which is bigger by revenue, Graham or TAL Education?

Graham is bigger by revenue: $4.9B in fiscal 2025, against $3B for TAL Education in fiscal 2026.

Which keeps more of its revenue as profit, Graham or TAL Education?

Graham had a net margin of 6.0% in fiscal 2025; TAL Education had 17.6% in fiscal 2026.

Which grew revenue faster, Graham or TAL Education?

In their latest fiscal years revenue changed by +2.5% at Graham and +33.7% at TAL Education.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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