{
  "docId": "019dd923-622c-750b-8b96-b0abca350504",
  "docSlug": "2516c0710aa5",
  "documentTitle": "TAL Education Group (TAL)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Muddy Waters Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-07-23 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 4,
  "pageCount": 10,
  "prevPage": 3,
  "nextPage": 5,
  "slideType": "appendix_data",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 6,
  "notes": "The slide uses a common-sizing approach to demonstrate the mathematical inconsistency in reported growth figures.",
  "elementsJson": [
    "headline_text",
    "data_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b96-b0abca350504/4",
  "deckHref": "/decks/019dd923-622c-750b-8b96-b0abca350504",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b96-b0abca350504.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-b0abca350504#slide-4",
  "components": [
    {
      "bbox": {
        "h": 0.035,
        "w": 0.25,
        "x": 0.59,
        "y": 0.65
      },
      "kind": "callout",
      "text": "\"high single digit\" growth",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e7c832d1-58f1-42e0-86ce-671e272b1142",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Revenue: 16,240.0",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-ee3c-76df-9658-d3c23d4c36ed",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"high single digit\" growth — TAL Education Group",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-ee3c-76df-9658-cf3bada279e1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.315,
        "w": 0.503,
        "x": 0.248,
        "y": 0.325
      },
      "kind": "table",
      "text": "FY2017 Q3\nTotal Peiyou (All of Which Was Offline in FY2017 Q3)\nEnrollment 100.0\nASP 100.0\nRevenue (Enrollment x ASP) 10,000.0\n\nFY2018 Q3\nTotal Peiyou (All of Which Was Offline in FY2017 Q3)\nEnrollment 191.7\nASP \"high single digit\" growth\nRevenue (Enrollment x ASP) 16,240.0",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "38da26a7-60cb-4101-9d3e-3e3878fed2b7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.64,
        "x": 0.18,
        "y": 0.11
      },
      "kind": "title",
      "text": "1. Common Size the Data",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "85f1fe38-79b4-4109-a12a-5aa6ae4863ea",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "common-size-analysis",
      "slug": null,
      "matchId": "3903248e-89b2-43a8-a14f-4e4b937f70cd",
      "evidence": "The slide explicitly uses the title 'Common Size the Data' to perform a mathematical check on reported figures.",
      "confidence": 1
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}