November 2, 2026
One on One Educational Services Limited (ONE)
Audited financials for the twelve months ended August 31, 2026:
One on One Educational Services Limited (ONE), for the twelve months ended August 31, 2026, reported a 5% decrease in revenues, totalling $354.03 million, compared to $374.11 million in the corresponding period of 2025.
Direct Costs amounted to $76.51 million (2025: $97.46 million), reflecting a 22% year-over-year decrease. Gross profit rose marginally, by $0.88 million, to $277.52 million, compared to $276.65 million for the twelve months ended August 31, 2025. The gross profit margin improved to 78.39% from 73.95%, as the cost of inventories sold fell to $1.17 million from $24.98 million, partly offset by a $9.02 million provision for inventory obsolescence and a $1.43 million inventory write-off.
Administrative Expenses decreased by 4%, from $158.42 million in 2025 to $151.58 million in the current period, with salaries and related charges falling 7% to $93.93 million. Selling Expenses for the twelve months amounted to $20.17 million, a 13% increase compared to $17.91 million reported in 2025. Other Income decreased by 42% to $3.46 million (2025: $5.97 million). As a result, total operating expenses amounted to $171.74 million, a 3% decrease relative to $176.33 million reported in 2025.
Consequently, Operating Profit for the twelve months ended August 31, 2026, amounted to $109.24 million, a 3% increase relative to $106.29 million in 2025, lifting the operating margin to 30.86% from 28.41%. Expected Credit Losses of $8.93 million were recognised below operating profit (2025: $1.55 million). Finance Costs totalled $20.73 million, a 10% increase over the $18.84 million recorded in 2025.
Profit Before Taxation for the twelve months amounted to $79.58 million, a 7% decrease relative to $85.90 million reported in 2025.
The tax charge for the twelve months ended August 31, 2026 amounted to $2.10 million, compared to a tax credit of $30,457 in 2025. As a result, Net Profit amounted to $77.47 million, a 10% decrease from the $85.93 million reported in 2025.
Consequently, Earnings Per Share for the twelve months amounted to $0.0408 (2025: EPS: $0.0452). The twelve-month trailing EPS was $0.04 and the number of shares used in these calculations was 1,900,000,000.
Notably, ONE’s stock price closed the trading period on October 30, 2026 at a price of $0.85 with a corresponding P/E ratio of 20.85x.
Balance Sheet Highlights
The company’s total assets amounted to $775.04 million as of August 31, 2026, compared to $750.65 million in the prior year, reflecting a year-over-year increase of 3%, or $24.39 million. This movement was primarily attributable to a $58.92 million increase in Intangible Assets to $467.18 million (2025: $408.26 million) and a $29.98 million increase in Cash and Bank Balances to $75.62 million (2025: $45.65 million). These increases were partially offset by a $48.73 million decline in Trade and Other Receivables to $152.52 million (2025: $201.25 million), a $7.94 million decline in Property, Plant and Equipment to $38.30 million (2025: $46.24 million) and a $7.11 million decline in Inventories to $12.32 million (2025: $19.43 million). Amounts Due from Director rose by $1.55 million to $26.25 million (2025: $24.70 million).
Shareholders’ equity was $568.42 million (2025: $490.95 million), representing a book value per share of $0.30 (2025: $0.26). The 16% increase in equity equals the year’s net profit, as no dividend was declared in the period.
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