Kingswood Oxford

Kingswood Oxford is burning the cushion faster than the 24-month buffer suggests. Expenses are outpacing revenue 5.0% vs -1.3% per year over three years, and the latest operating margin is -5.3% on a 81% tuition-dependent revenue mix. Covering the deficit at today's rate, it would take more than a decade to exhaust reserves — the full budget, by contrast, is covered for about 2.0 years if every revenue line stopped. The board conversation here is the recovery plan for the operating model and the timeline to break-even. NACUBO Composite Financial Index: 3.1 / 10, adequate — monitor.

Kingswood Oxford reported $29.0M in revenue against $30.6M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $60.1M — about 1.97x annual operating expense.

Operating margin landed at -5.3%, with 80.9% of revenue coming from tuition. Among same-size peers, that puts Kingswood Oxford at the p20 on operating margin.