HIQ Global 100 Education Index
A market-capitalization-weighted index of the 100 largest publicly traded companies in the education sector around the world by market value.
11 July 2018
Tracking the world's 100 largest publicly traded education companies.
Education is one of the world’s largest social and economic activities. Global annual expenditure on education is approximately $5 Trillion dollars, forecast to grow to $10 Trillion by 2030. Whilst measures like these help us understand the scale and impact of the sector, the potential of education must not be measured by money alone. What is being “sold” is the education of future generations.
Education has been slow to leverage private capital to fuel research, investment and development in human capital. The HIQ Global 100 Education Index seeks to measure the change in this dynamic over time by tracking the cumulative value of the world’s 100 largest publicly traded education companies. The index tracks the market capitalization of those 100 companies, measuring what the companies are worth on the open market, as well as the market’s perception of their future prospects, because it reflects what investors are willing to pay for its stock.
100 companies valued at US$150B powered by 450,000 teachers and professionals
The index was launched in July 2018 with 100 constituents set-out comparatively below and in detail at the bottom of this note. Check out our deep dive on Global Education Stocks here too.
Index Characteristics compared to the S&P Global 1200 Healthcare Index
Healthcare is often cited as a benchmark for education given their respective social and economic characteristics. The S&P Global 1200 Health Care index consists of 104 constituents, all members of the S&P Global 1200 that are classified within the GICS® health care sector, essentially the largest healthcare companies from around the world.
The table below compares some of the basic characteristics of the two indexes.
| Characteristics | Education | Healthcare |
| Number of Constituents | 100 | 104 |
| Mean Company Market Cap | $1.6B | $47.3B |
| Largest Company Market Cap | $20.2B | $325.5B |
| Smallest Company Market Cap | $8.8M | $5.3B |
| Median Company Market Cap | $449M | $27.5B |
| Weight Largest Constituent | 12.9% | 6.9% |
| Weight Top 10 Constituents | 55.2% | 37.7% |
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Constituents - July 2018
| Company | Ticker | HQ Country | USD Millions Market Cap 9 Jul 2018 | |
| TAL | TAL | China | 20,185 | |
| New Oriental | EDU | China | 14,764 | |
| Informa | INF | Switzerland | 13,673 | |
| Pearson | PSON | UK | 9,219 | |
| Bright Horizons | BFAM | US | 6,178 | |
| Grand Canyon | LOPE | US | 5,580 | |
| 2U | TWOU | US | 4,636 | |
| Kroton | KROTY | Brazil | 4,409 | |
| Pluralsight | PS | US | 3,499 | |
| Lagardere | MMB | France | 3,486 | |
| Chna Edu Group | 839 | China | 3,300 | |
| Laureate | LAUR | US | 3,286 | |
| Chegg | CHGG | US | 3,239 | |
| Graham Holdings | GHC | US | 3,171 | |
| Adtalem | ATGE | US | 3,048 | |
| Unite Group | UTG | UK | 2,939 | |
| Mapleleaf | 1317 | China | 2,558 | |
| Yuhua | 6169 | China | 2,213 | |
| Estacio | ESTC3 | Brazil | 2,078 | |
| Bright Scholar | BEDU | China | 2,073 | |
| Hailian | HLG | China | 2,061 | |
| Virscend | 1565 | Hong Kong | 2,041 | |
| Puxin | NEW | China | 1,877 | |
| IDP | IEL | Australia | 1,849 | |
| Wisdom | 6068 | China | 1,754 | |
| Scholastic | SCHL | US | 1,608 | |
| Instructure | INST | US | 1,508 | |
| Sunlands | STG | China | 1,459 | |
| Somos | SEDU3 | Brazil | 1,439 | |
| Strayer | STRA | US | 1,331 | |
| New Higher Edu | 2001 | China | 1,281 | |
| Capela | CPLA | US | 1,202 | |
| Navitas | NVT | Australia | 1,153 | |
| Career Education | CECO | US | 1,153 | |
| Houghton Mifflin Harcourt | HMHC | US | 967 | |
| Minsheng | 1569 | China | 946 | |
| Learning Technologies | LTG | UK | 939 | |
| Rise | REDU | China | 856 | |
| G8 | GEM | Australia | 795 | |
| APE | APEI | US | 728 | |
| K12 Inc | LRN | US | 721 | |
| OneSmart | ONE | China | 694 | |
| CH Xinhua | 2779 | China | 663 | |
| Qtone | 300359 | China | 659 | |
| Cambium Lerning | ABCD | US | 570 | |
| Ser | SEER3 | Brazil | 548 | |
| Tokyo Individualized Education | 4745 | Japan | 527 | |
| RYB | RYB | China | 507 | |
| Navneet | NAVNETEDUL | India | 452 | |
| Tarena | TEDU | China | 447 | |
| Rosetta Stone | RST | US | 375 | |
| China Online Education Group | COE | China | 333 | |
| GP Strategies | GPX | US | 315 | |
| Meiko Network Japan | 4668 | Japan | 310 | |
| Four Seasons Education | FEDU | China | 309 | |
| Wilmington | WIL | UK | 279 | |
| RM | RM. | UK | 260 | |
| 21 Century Edu | 1598 | China | 259 | |
| Barnes & Noble Education | BNED | US | 258 | |
| China Distance Education | DL | China | 251 | |
| Bloomsbury Publishing | BMY | UK | 240 | |
| Tribal Group | TRB | UK | 217 | |
| Alkhaleej Training and Education | 4290 | Saudi Arabia | 190 | |
| Top Education | 1752 | Australia | 185 | |
| Raffles | NR7 | Singapore | 183 | |
| Bridgepoint | BPI | US | 182 | |
| Prestariang Berhad | 5204 | Malaysia | 144 | |
| APTech | APTECHT | India | 143 | |
| Aspen Group | ASPU | US | 134 | |
| 3P | 3PL | Australia | 129 | |
| Overseas Education | RQ1 | Singapore | 108 | |
| ATA | ATAI | China | 98 | |
| Ambow | AMBO | China | 92 | |
| Universal Technical Institute | UTI | US | 80 | |
| Educational Development Corp | EDUC | US | 76 | |
| Redhill | RDH | Australia | 70 | |
| Evolve | EVO | New Zealand | 67 | |
| Evolve | EVO | Australia | 67 | |
| MT EduCare | MTEDUCARE | India | 59 | |
| CL Education Fin | 2371 | China | 54 | |
| Kingsley Edu | 8105 | Malaysia | 52 | |
| VR Education Holdings | VRE | UK | 48 | |
| CIBT | MBA | Canada | 44 | |
| Boxlight | BOXL | US | 43 | |
| Lincoln Education Services | LINC | US | 42 | |
| Goldway Education | 8160 | Hong Kong | 39 | |
| Shanti Educatonal Initiatives | SEIL | India | 38 | |
| HK Education International | 1082 | Hong Kong | 33 | |
| CL Educate | CLEDUCATE | India | 30 | |
| Dadi Edu | 8417 | Hong Kong | 30 | |
| WEY Education | WEY | UK | 26 | |
| National American Unviersity Holdings | NAUH | US | 23 | |
| Malvern | MLVN | Singapore | 21 | |
| BetterU | BTRU | Canada | 17 | |
| Icollege | ICT | Australia | 17 | |
| VJTF EduServices | VJTFEDU | India | 16 | |
| EduSpec Holdings | 0107 | India | 15 | |
| JM Education Group | 3003 | India | 9 | |
| Legacy Education Alliance | LEAI | US | 9 |
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