| Global Education |
| CHGG |
Chegg, Inc. |
32.37 |
3,873MM |
3,951MM |
9.8x |
8.0x |
32.8x |
25.0x |
43.9x |
35.6x |
| PS |
Pluralsight, Inc. |
16.79 |
2,351MM |
2,376MM |
7.6x |
5.8x |
- |
- |
- |
- |
| RST |
Rosetta Stone |
18.60 |
447MM |
444MM |
- |
- |
- |
- |
- |
- |
| Mean |
|
|
|
|
8.7x |
6.9x |
32.8x |
25.0x |
43.9x |
35.6x |
| Median |
|
|
|
|
8.7x |
6.9x |
32.8x |
25.0x |
43.9x |
35.6x |
| China Schools |
| 6169.HK |
China YuHua Education 中国宇华教育集团 |
4.51 |
1,899MM |
1,767MM |
7.7x |
5.8x |
13.3x |
10.3x |
19.1x |
15.2x |
| HLG |
Hailiang Education |
66.23 |
1,707MM |
1,473MM |
- |
- |
- |
- |
- |
- |
| 1317.HK |
China Maple Leaf Educational Systems 中国枫叶教育集团 |
2.36 |
906MM |
694MM |
3.0x |
2.5x |
7.8x |
6.5x |
9.8x |
8.4x |
| 1569.HK |
Minsheng Education Group 民生教育集团 |
1.32 |
680MM |
673MM |
4.8x |
3.9x |
8.6x |
7.1x |
11.6x |
9.6x |
| Mean |
|
|
|
|
5.2x |
4.1x |
9.9x |
8.0x |
13.5x |
11.1x |
| Median |
|
|
|
|
4.8x |
3.9x |
8.6x |
7.1x |
11.6x |
9.6x |
| China After-School Tutoring |
| TAL |
TAL Education Group |
38.96 |
23,054MM |
22,254MM |
6.5x |
4.8x |
44.6x |
29.4x |
57.2x |
36.4x |
| EDU |
New Oriental Education & Technology Group, Inc. |
113.82 |
18,032MM |
15,210MM |
3.8x |
3.1x |
24.3x |
17.8x |
33.8x |
25.6x |
| 1797.HK |
Koolearn Technology Holding 新东方在线科技控股 |
15.32 |
1,839MM |
1,420MM |
7.3x |
4.8x |
- |
- |
- |
- |
| BEDU |
Bright Scholar Education Holdings |
9.41 |
1,171MM |
891MM |
2.6x |
2.0x |
12.1x |
9.6x |
23.1x |
20.5x |
| ONE |
OneSmart International Education |
6.95 |
1,116MM |
1,090MM |
1.9x |
1.5x |
13.6x |
9.7x |
20.7x |
16.0x |
| STG |
Sunlands Technology Group |
2.80 |
478MM |
333MM |
- |
- |
- |
- |
- |
- |
| REDU |
RISE Education Cayman |
7.25 |
412MM |
422MM |
1.9x |
1.6x |
10.2x |
8.7x |
16.8x |
14.9x |
| RYB |
RYB Education, Inc. |
6.30 |
180MM |
207MM |
1.1x |
0.8x |
14.3x |
11.0x |
35.0x |
21.0x |
| LAIX |
LAIX Inc. |
3.18 |
156MM |
75MM |
0.5x |
0.3x |
- |
- |
- |
- |
| COE |
China Online Education Group |
6.90 |
141MM |
39MM |
- |
- |
- |
- |
- |
- |
| FEDU |
Four Seasons Education (Cayman) Inc. |
1.80 |
89MM |
43MM |
- |
- |
- |
- |
- |
- |
| TEDU |
Tarena International, Inc. |
0.93 |
49MM |
-23MM |
- |
- |
0.6x |
25.7x |
- |
- |
| Mean |
|
|
|
|
3.2x |
2.4x |
17.1x |
16.0x |
31.1x |
22.4x |
| Median |
|
|
|
|
2.3x |
1.8x |
13.6x |
11.0x |
28.4x |
20.7x |