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American Public Education, Inc.(APEI)Earnings, Financials & Key Ratios
APEI•NASDAQ
38.8× P/E·Price updated Jun 19, 2026
SectorConsumer DefensiveIndustryEducation & TrainingSub-IndustryDegree-Granting Colleges and Universities
AboutAmerican Public Education, Inc., together with its subsidiaries, provides online and campus-based postsecondary education. The company operates through three segments: American Public University System, Rasmussen University, and Hondros College of Nursing. It offers 130 degree programs and 111 certificate programs in various fields of study, including business administration, health science, technology, criminal justice, education, and liberal arts, as well as national security, military studies, intelligence, and homeland security. The company also provides nursing-and health sciences-focused postsecondary education, diploma in practical nursing, an associate degree in nursing, and an associate degree in medical laboratory technology. American Public Education, Inc. was incorporated in 1991 and is headquartered in Charles Town, West Virginia.Show more
- Revenue$649M+3.9%
- EBITDA$70M+33.7%
- Net Income$32M+95.8%
- EPS (Diluted)1.36+147.3%
- Gross Margin51.74%-1.7%
- EBITDA Margin10.79%+28.7%
- Operating Margin8.3%+56.8%
- Net Margin4.86%+88.5%
- ROE10.54%+94.9%
APEI Key Insights
American Public Education, Inc. (APEI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong Piotroski F-Score: 7/9
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 15.1%
- ✓Efficient asset utilization: 1.2x turnover
✗Weaknesses
- ✗Weak 3Y average ROE of 0.4%
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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APEI Price & Volume
American Public Education, Inc. (APEI) stock price & volume — 10-year historical chart
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APEI Growth Metrics
American Public Education, Inc. (APEI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years7.06%
5 Years15.06%
3 Years2.29%
TTM3.84%
Profit CAGR
10 Years-0.27%
5 Years10.89%
3 Years-
TTM64.94%
EPS CAGR
10 Years-3.44%
5 Years1.7%
3 Years-
TTM87.33%
Return on Capital
10 Years4.79%
5 Years-1.26%
3 Years3.07%
Last Year11.23%
APEI Recent Earnings
American Public Education, Inc. (APEI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 11, 2026Metric
Actual
Est
EPS
$0.94+54.1%
$0.61
Rev
$175M+0.6%
$174M
Q2 2026
Mar 12, 2026Metric
Actual
Est
EPS
$0.67+71.8%
$0.39
Rev
$158M+4.3%
$152M
Q4 2025
Nov 10, 2025Metric
Actual
Est
EPS
$0.30+433.3%
$0.09
Rev
$163M+7.7%
$152M
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$0.02+71.4%
$0.07
Rev
$163M+1.7%
$160M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 11, 2026 | $0.94vs $0.61+54.1% | $175Mvs $174M+0.6% |
| Q2 2026 | Mar 12, 2026 | $0.67vs $0.39+71.8% | $158Mvs $152M+4.3% |
| Q4 2025 | Nov 10, 2025 | $0.30vs $0.09+433.3% | $163Mvs $152M+7.7% |
| Q3 2025 | Aug 6, 2025 | $0.02vs $0.07+71.4% | $163Mvs $160M+1.7% |
Based on last 12 quarters of dataView full earnings history →
APEI Peer Comparison
American Public Education, Inc. (APEI) competitors in Degree-Granting Colleges and Universities — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PRDO | 2.01B | 32.03 | 13.24 | 24.2% | 19.91% | 17.21% | 0.11 | |
 STRA | 1.71B | 75.33 | 13.90 | 3.96% | 10.21% | 7.85% | 0.07 | |
 GPI | 3.72B | 313.16 | 12.47 | 13.23% | 1.45% | 11.04% | 2.10 | |
 LAUR | 5.2B | 36.43 | 19.28 | 8.64% | 16.08% | 25.36% | 0.71 | |
 UTI | 2.22B | 40.35 | 35.71 | 14.05% | 4.91% | 13.02% | 0.85 | |
 LOPE | 3.84B | 141.59 | 18.36 | 7.07% | 26.92% | 29.53% | 0.27 | |
 COUR | 905.83M | 5.35 | -17.26 | 9.04% | -8.23% | -10.06% | 0.01 | |
 ATGE | 3.7B | 106.64 | 17.57 | 12.85% | 13.41% | 18.37% | 0.54 |
Compare APEI vs Peers
American Public Education, Inc. (APEI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
APEI Income Statement
American Public Education, Inc. (APEI) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 299.25M | 297.69M | 286.27M | 321.79M | 418.8M | 606.33M | 600.54M | 624.56M | 648.86M | 659.05M |
Revenue Growth % | -4.44% | -0.52% | -3.84% | 12.41% | 30.15% | 44.78% | -0.95% | 4% | 3.89% | 3.84% |
Cost of Goods Sold | 116.16M | 115.28M | 111.92M | 122.16M | 172.62M | 288.47M | 292.86M | 295.7M | 313.17M | 304.98M |
COGS % of Revenue | 38.82% | 38.73% | 39.09% | 37.96% | 41.22% | 47.58% | 48.77% | 47.35% | 48.26% | - |
Gross Profit | 183.09M▲ 0% | 182.41M▼ 0.4% | 174.35M▼ 4.4% | 199.62M▲ 14.5% | 246.18M▲ 23.3% | 317.86M▲ 29.1% | 307.68M▼ 3.2% | 328.86M▲ 6.9% | 335.69M▲ 2.1% | 354.07M▲ 0% |
Gross Margin % | 61.18% | 61.27% | 60.91% | 62.04% | 58.78% | 52.42% | 51.23% | 52.65% | 51.74% | 53.72% |
Gross Profit Growth % | -6.65% | -0.37% | -4.41% | 14.49% | 23.32% | 29.11% | -3.2% | 6.88% | 2.08% | - |
Operating Expenses | 146.13M | 149M | 153.71M | 174.87M | 215.81M | 455.2M | 355.99M | 295.79M | 281.83M | 296.49M |
OpEx % of Revenue | 48.83% | 50.05% | 53.69% | 54.34% | 51.53% | 75.08% | 59.28% | 47.36% | 43.44% | - |
Selling, General & Admin | 127.36M | 131.5M | 138.11M | 161.03M | 196.7M | 275M | 261.19M | 270.77M | 281.83M | 284.38M |
SG&A % of Revenue | 42.56% | 44.17% | 48.24% | 50.04% | 46.97% | 45.36% | 43.49% | 43.35% | 43.44% | - |
Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
Other Operating Expenses | 18.78M | 17.5M | 15.6M | 13.84M | 19.11M | 180.2M | 94.8M | 25.02M | 0 | 2M |
Operating Income | 34.86M▲ 0% | 33.41M▼ 4.2% | 28.54M▼ 14.6% | 24.76M▼ 13.3% | 30.37M▲ 22.7% | -137.35M▼ 552.2% | -48.31M▲ 64.8% | 33.07M▲ 168.5% | 53.86M▲ 62.9% | 57.57M▲ 0% |
Operating Margin % | 11.65% | 11.22% | 9.97% | 7.69% | 7.25% | -22.65% | -8.04% | 5.29% | 8.3% | 8.74% |
Operating Income Growth % | -8.93% | -4.16% | -14.57% | -13.26% | 22.68% | -552.23% | 64.83% | 168.45% | 62.89% | - |
EBITDA | 53.63M | 50.91M | 44.14M | 37.74M | 48.2M | -105.22M | -20.49M | 52.37M | 70.01M | 73.88M |
EBITDA Margin % | 17.92% | 17.1% | 15.42% | 11.73% | 11.51% | -17.35% | -3.41% | 8.38% | 10.79% | 11.21% |
EBITDA Growth % | -6.98% | -5.08% | -13.3% | -14.49% | 27.72% | -318.29% | 80.53% | 355.58% | 33.68% | 26.74% |
D&A (Non-Cash Add-back) | 18.78M | 17.5M | 15.6M | 12.98M | 17.83M | 32.13M | 27.82M | 19.3M | 16.15M | 16.31M |
EBIT | 36.95M | 33.41M | 20.65M | 25.61M | 30.37M | -133.52M | -48.31M | 33.07M | 53.86M | 57.61M |
Net Interest Income | 185K | 2.92M | 3.91M | 1.09M | -4.28M | -17.73M | -4.46M | -2.13M | -4.23M | -4.07M |
Interest Income | 185K | 2.92M | 3.91M | 1.09M | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense | 0 | 0 | 0 | 0 | 4.28M | 17.73M | 4.46M | 2.13M | 4.23M | 4.07M |
Other Income/Expense | 185K | 2.03M | -3.98M | 1.09M | -5.11M | -13.92M | -9.7M | -2.13M | -10.15M | -5.98M |
Pretax Income | 35.04M▲ 0% | 35.44M▲ 1.1% | 16.66M▼ 53.0% | 25.85M▲ 55.1% | 25.26M▼ 2.3% | -151.27M▼ 698.8% | -58M▲ 61.7% | 30.94M▲ 153.3% | 43.7M▲ 41.3% | 51.59M▲ 0% |
Pretax Margin % | 11.71% | 11.91% | 5.82% | 8.03% | 6.03% | -24.95% | -9.66% | 4.95% | 6.74% | 7.83% |
Income Tax | 11.49M | 9.29M | 5.19M | 7.02M | 7.51M | -36.28M | -10.71M | 10.42M | 12.15M | 11.2M |
Effective Tax Rate % | 32.8% | 26.2% | 31.13% | 27.16% | 29.73% | 23.98% | 18.47% | 33.68% | 27.8% | 21.7% |
Net Income | 21.12M▲ 0% | 25.64M▲ 21.4% | 10.01M▼ 60.9% | 18.82M▲ 88.0% | 17.75M▼ 5.7% | -114.99M▼ 747.8% | -47.29M▲ 58.9% | 16.11M▲ 134.1% | 31.56M▲ 95.8% | 40.4M▲ 0% |
Net Margin % | 7.06% | 8.61% | 3.5% | 5.85% | 4.24% | -18.97% | -7.87% | 2.58% | 4.86% | 6.13% |
Net Income Growth % | -12.56% | 21.39% | -60.95% | 87.98% | -5.68% | -747.77% | 58.88% | 134.08% | 95.85% | 64.94% |
Net Income (Continuing) | 21.12M | 25.64M | 10.01M | 18.82M | 17.75M | -114.99M | -47.29M | 20.52M | 31.56M | 40.4M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | 1.29▲ 0% | 1.54▲ 19.4% | 0.62▼ 59.7% | 1.25▲ 101.6% | 0.97▼ 22.4% | -6.08▼ 726.8% | -2.94▲ 51.6% | 0.55▲ 118.7% | 1.36▲ 147.3% | 2.15▲ 0% |
EPS Growth % | -13.42% | 19.38% | -59.74% | 101.61% | -22.4% | -726.8% | 51.64% | 118.71% | 147.27% | 87.33% |
EPS (Basic) | 1.30 | 1.56 | 0.62 | 1.27 | 0.98 | -6.10 | -2.94 | 0.57 | 1.40 | - |
Diluted Shares Outstanding | 16.38M | 16.63M | 16.25M | 15.05M | 18.25M | 18.91M | 18.19M | 18.15M | 18.66M | 18.8M |
Basic Shares Outstanding | 16.24M | 16.4M | 16.09M | 14.88M | 18.09M | 18.86M | 18.11M | 17.63M | 18.01M | 18.28M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
APEI Balance Sheet
American Public Education, Inc. (APEI) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 191.13M | 232.57M | 222.91M | 251.81M | 202.64M | 186.09M | 217.38M | 260.57M | 259.82M | 282.13M |
Cash & Short-Term Investments | 179.21M | 212.13M | 201.44M | 226.49M | 122.63M | 129.46M | 116.66M | 131.93M | 176.5M | 221M |
Cash Only | 179.21M | 212.13M | 201.44M | 226.49M | 122.63M | 129.46M | 116.66M | 131.93M | 176.5M | 221M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 7.14M | 14.96M | 11.32M | 17.65M | 41.33M | 45.22M | 51.45M | 63.41M | 65.66M | 38.71M |
Days Sales Outstanding | 8.7 | 18.34 | 14.44 | 20.02 | 36.02 | 27.22 | 31.27 | 37.06 | 36.94 | 27.14 |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
Other Current Assets | 0 | 0 | 3.06M | 1.2M | 27M | 0 | 36.24M | 51.48M | 17.66M | 22.42M |
Total Non-Current Assets | 147.91M | 138.39M | 131.99M | 119.21M | 522.97M | 499.16M | 340M | 309.53M | 283.62M | 255.79M |
Property, Plant & Equipment | 92.37M | 86.88M | 90.15M | 77.18M | 180.36M | 209.76M | 187.53M | 168.16M | 128.28M | 123.72M |
Fixed Asset Turnover | 3.24x | 3.43x | 3.18x | 4.17x | 2.32x | 2.89x | 3.20x | 3.71x | 5.06x | 4.82x |
Goodwill | 33.9M | 33.9M | 26.56M | 26.56M | 243.49M | 112.59M | 59.59M | 59.59M | 59.59M | 59.59M |
Intangible Assets | 4.61M | 3.72M | 3.72M | 3.72M | 85.08M | 54.73M | 31.54M | 28.22M | 28.22M | 28.22M |
Long-Term Investments | 12.48M | 11.97M | 10.5M | 10.49M | -5.06M | 4.5M | 2.6M | 0 | 0 | 0 |
Other Non-Current Assets | 2.87M | 278K | 1.05M | 1.25M | 14.04M | 12.02M | 7.39M | 6.25M | 6.33M | 6M |
Total Assets | 339.04M▲ 0% | 370.96M▲ 9.4% | 354.9M▼ 4.3% | 371.02M▲ 4.5% | 725.61M▲ 95.6% | 685.25M▼ 5.6% | 557.39M▼ 18.7% | 570.1M▲ 2.3% | 543.43M▼ 4.7% | 537.91M▲ 0% |
Asset Turnover | 0.88x | 0.80x | 0.81x | 0.87x | 0.58x | 0.88x | 1.08x | 1.10x | 1.19x | 1.23x |
Asset Growth % | 5.71% | 9.41% | -4.33% | 4.54% | 95.57% | -5.56% | -18.66% | 2.28% | -4.68% | -23.66% |
Total Current Liabilities | 43.35M | 44.33M | 45.28M | 55.06M | 83.68M | 70.76M | 73.99M | 79.16M | 75.05M | 94.54M |
Accounts Payable | 8.84M | 9.11M | 3.55M | 3.76M | 13.5M | 3.81M | 8.66M | 7.85M | 4.82M | 8.14M |
Days Payables Outstanding | 27.79 | 28.84 | 11.56 | 11.23 | 28.54 | 4.82 | 10.8 | 9.69 | 5.62 | 9.2 |
Short-Term Debt | 0 | 0 | 0 | 0 | 22.45M | 14.4M | 0 | 0 | 11.37M | 16.25M |
Deferred Revenue (Current) | 19.37M | 18.31M | 0 | 22.1M | 21.78M | 23.76M | 23.83M | 23.47M | 23.02M | 97.13M |
Other Current Liabilities | 9.8M | 3.81M | 17.43M | 15.66M | 1.43M | 13.78M | 16.71M | 20.55M | 35.84M | 44.96M |
Current Ratio | 4.41x | 5.25x | 4.92x | 4.57x | 2.42x | 2.63x | 2.94x | 3.29x | 3.46x | 2.98x |
Quick Ratio | 4.41x | 5.25x | 4.92x | 4.57x | 2.42x | 2.63x | 2.94x | 3.29x | 3.46x | 2.98x |
Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | 17.94 |
Total Non-Current Liabilities | 6.28M | 5.36M | 12.89M | 9.04M | 226.32M | 264.76M | 191.42M | 187.07M | 173.6M | 137.21M |
Long-Term Debt | 0 | 0 | 0 | 0 | 151.77M | 93.15M | 94.68M | 93.42M | 94.67M | 54.01M |
Capital Lease Obligations | 0 | 0 | 9.49M | 6.46M | 69.49M | 101.42M | 96.74M | 93.64M | 56.92M | 205.28M |
Deferred Tax Liabilities | 6.28M | 5.36M | 0 | 2.58M | 5.06M | 70.19M | 0 | 0 | 22.01M | 22.01M |
Other Non-Current Liabilities | 0 | 0 | 3.39M | 0 | 5.06M | 0 | 0 | 0 | 0 | 83.2M |
Total Liabilities | 49.63M | 49.69M | 58.16M | 64.09M | 310M | 335.52M | 265.41M | 266.22M | 248.65M | 231.75M |
Total Debt | 0 | 0 | 11.78M | 8.85M | 257.42M | 208.97M | 204.73M | 200.62M | 162.96M | 70.25M |
Net Debt | -179.21M | -212.13M | -189.66M | -217.64M | 134.79M | 79.51M | 88.07M | 68.7M | -13.54M | -150.74M |
Debt / Equity | - | - | 0.04x | 0.03x | 0.62x | 0.60x | 0.70x | 0.66x | 0.55x | 0.23x |
Debt / EBITDA | - | - | 0.27x | 0.23x | 5.34x | - | - | 3.83x | 2.33x | 0.95x |
Net Debt / EBITDA | -3.34x | -4.17x | -4.30x | -5.77x | 2.80x | - | - | 1.31x | -0.19x | -2.04x |
Interest Coverage | - | - | - | - | 7.10x | -7.53x | -10.83x | 15.55x | 12.73x | 14.16x |
Total Equity | 289.41M▲ 0% | 321.27M▲ 11.0% | 296.73M▼ 7.6% | 306.93M▲ 3.4% | 415.61M▲ 35.4% | 349.73M▼ 15.9% | 291.98M▼ 16.5% | 303.88M▲ 4.1% | 294.78M▼ 3.0% | 306.17M▲ 0% |
Equity Growth % | 9.35% | 11.01% | -7.64% | 3.43% | 35.41% | -15.85% | -16.51% | 4.08% | -2.99% | -13.75% |
Book Value per Share | 17.67 | 19.31 | 18.25 | 20.40 | 22.77 | 18.49 | 16.05 | 16.74 | 15.80 | 16.28 |
Total Shareholders' Equity | 289.41M | 321.27M | 296.73M | 306.93M | 415.61M | 349.73M | 291.98M | 303.88M | 294.78M | 306.17M |
Common Stock | 163K | 164K | 152K | 148K | 187K | 189K | 176K | 177K | 181K | 184K |
Retained Earnings | 108.57M | 133.93M | 105.96M | 111.18M | 128.93M | 13.89M | -49.1M | -41.8M | -16.5M | 231K |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -99.18M | -114.36M | 0 | 0 | 108K | 3.1M | 1.64M | -7K | -18K | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
APEI Cash Flow Statement
American Public Education, Inc. (APEI) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 47.94M | 44.18M | 38.37M | 44.81M | 16.27M | 29.21M | 45.51M | 48.87M | 61.97M | 88.27M |
Operating CF Margin % | 16.02% | 14.84% | 13.4% | 13.93% | 3.88% | 4.82% | 7.58% | 7.83% | 9.55% | - |
Operating CF Growth % | -14.42% | -7.84% | -13.15% | 16.78% | -63.7% | 79.62% | 55.79% | 7.38% | 26.79% | -678.14% |
Net Income | 21.12M | 25.64M | 10.01M | 18.82M | 17.75M | -114.99M | -47.29M | 16.11M | 31.56M | 40.4M |
Depreciation & Amortization | 18.78M | 17.5M | 15.6M | 12.98M | 17.83M | 32.13M | 27.82M | 19.3M | 16.15M | 16.31M |
Stock-Based Compensation | 6.25M | 7.18M | 5.96M | 7.08M | 7.65M | 8.01M | 7.74M | 7.67M | 8.35M | 6.09M |
Deferred Taxes | -2.49M | -917K | -1.97M | -811K | 5.53M | -41.91M | -16M | 4.05M | 8.13M | 7.82M |
Other Non-Cash Items | 4.88M | 1.7M | 9.5M | 882K | 3.01M | 150.76M | 73.85M | 7.89M | 5.86M | 8.1M |
Working Capital Changes | -587K | -6.92M | -727K | 5.86M | -35.52M | -4.78M | -597K | -6.15M | -8.09M | 9.56M |
Change in Receivables | -187K | -6.92M | 2.73M | -6.33M | -7.64M | -2.04M | -8.62M | -11.49M | -5.32M | 1.03M |
Change in Inventory | -1.13M | -2.22M | 2.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 1.99M | 266K | -5.56M | -86K | 8.03M | -10.21M | 4.86M | -816K | -1.85M | 1.46M |
Cash from Investing | -13.6M | -9.43M | -7.25M | -4.16M | -336.67M | -13.67M | -13.77M | -21.08M | 4.8M | 5.68M |
Capital Expenditures | -14.79M | -9.43M | -7.25M | -4.93M | -11.83M | -16.39M | -13.89M | -21.08M | -15.86M | -14.49M |
CapEx % of Revenue | 4.94% | 3.17% | 2.53% | 1.53% | 2.82% | 2.7% | 2.31% | 3.38% | 2.44% | 2.2% |
Acquisitions | -300K | 0 | 0 | 0 | -325.51M | 1.95M | 0 | 0 | 20.66M | 21.75M |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | -9.06M | 0 | 0 | 767K | 672K | 765K | 123K | 0 | 0 | -1.58M |
Cash from Financing | -1.49M | -1.82M | -40.51M | -15.71M | 242.34M | -35.71M | -16.86M | -13.19M | -49.21M | -60.45M |
Debt Issued (Net) | 0 | 0 | 0 | 0 | 172.81M | -73.86M | -114K | -2.96M | -213K | -7.74M |
Equity Issued (Net) | -1.49M | -1.82M | -40.51M | -15.71M | 83.17M | 38.15M | -10.74M | -4.24M | -46.24M | -8.31M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | -6M | -6.06M | -2.75M | -1.32M |
Share Repurchases | -1.59M | -1.82M | -40.51M | -15.71M | -3.03M | -1.54M | -10.74M | -4.24M | -47.45M | -9.38M |
Other Financing | 0 | 0 | 0 | 0 | -13.64M | 0 | 0 | 67K | 0 | -43.08M |
Net Change in Cash | 32.85M▲ 0% | 32.93M▲ 0.2% | -9.39M▼ 128.5% | 24.95M▲ 365.6% | -78.06M▼ 412.9% | -20.17M▲ 74.2% | 14.88M▲ 173.8% | 14.6M▼ 1.9% | 17.56M▲ 20.3% | 33.5M▲ 0% |
Free Cash Flow | 33.15M▲ 0% | 34.75M▲ 4.8% | 31.11M▼ 10.5% | 39.88M▲ 28.2% | 4.44M▼ 88.9% | 12.83M▲ 189.1% | 31.62M▲ 146.5% | 27.79M▼ 12.1% | 46.1M▲ 65.9% | 73.78M▲ 0% |
FCF Margin % | 11.08% | 11.67% | 10.87% | 12.39% | 1.06% | 2.12% | 5.27% | 4.45% | 7.1% | 11.2% |
FCF Growth % | -16.32% | 4.82% | -10.46% | 28.18% | -88.88% | 189.07% | 146.52% | -12.11% | 65.89% | 59.15% |
FCF per Share | 2.02 | 2.09 | 1.91 | 2.65 | 0.24 | 0.68 | 1.74 | 1.53 | 2.47 | 3.92 |
FCF Conversion (FCF/Net Income) | 2.27x | 1.72x | 3.83x | 2.38x | 0.92x | -0.25x | -0.96x | 3.03x | 1.96x | 1.83x |
Interest Paid | 0 | 0 | 0 | 0 | 3.68M | 12.5M | 10.6M | 10.72M | 0 | 2.42M |
Taxes Paid | 12.84M | 12.71M | 8.02M | 5.9M | 7.46M | 4M | 2.42M | 6.3M | 0 | 3.98M |
APEI Key Ratios
American Public Education, Inc. (APEI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 7.62% | 8.4% | 3.24% | 6.24% | 4.91% | -30.05% | -14.74% | 5.41% | 10.54% | 14.02% |
Return on Invested Capital (ROIC) | 22.88% | 22.85% | 19.8% | 18.91% | 7.12% | -21.03% | -8.95% | 6.59% | 12.36% | 17.56% |
Gross Margin | 61.18% | 61.27% | 60.91% | 62.04% | 58.78% | 52.42% | 51.23% | 52.65% | 51.74% | 53.72% |
Net Margin | 7.06% | 8.61% | 3.5% | 5.85% | 4.24% | -18.97% | -7.87% | 2.58% | 4.86% | 6.13% |
Debt / Equity | - | - | 0.04x | 0.03x | 0.62x | 0.60x | 0.70x | 0.66x | 0.55x | 0.23x |
Interest Coverage | - | - | - | - | 7.10x | -7.53x | -10.83x | 15.55x | 12.73x | 14.16x |
FCF Conversion | 2.27x | 1.72x | 3.83x | 2.38x | 0.92x | -0.25x | -0.96x | 3.03x | 1.96x | 1.83x |
Revenue Growth | -4.44% | -0.52% | -3.84% | 12.41% | 30.15% | 44.78% | -0.95% | 4% | 3.89% | 3.84% |
Related:APEI Dividend History·APEI Revenue History·APEI Price History·APEI P/E History·APEI Financial Ratios·APEI Institutional Holders
APEI SEC Filings & Documents
American Public Education, Inc. (APEI) SEC filings — annual & quarterly reports (10-K, 10-Q)
APEI Frequently Asked Questions
American Public Education, Inc. (APEI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
American Public Education, Inc. (APEI) reported $659.0M in revenue for fiscal year 2025. This represents a 3611% increase from $17.8M in 2003.
American Public Education, Inc. (APEI) grew revenue by 3.9% over the past year. Growth has been modest.
Yes, American Public Education, Inc. (APEI) is profitable, generating $40.4M in net income for fiscal year 2025 (4.9% net margin).
Dividend & Returns
Yes, American Public Education, Inc. (APEI) pays a dividend with a yield of 0.28%. This makes it attractive for income-focused investors.
American Public Education, Inc. (APEI) has a return on equity (ROE) of 10.5%. This is reasonable for most industries.
American Public Education, Inc. (APEI) generated $73.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.