American Public Education, Inc. (APEI) quarterly balance sheet — complete assets, liabilities & equity history
American Public Education, Inc. (APEI) balance sheet — 22-year assets, liabilities & shareholders' equity history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Total Current Assets | 282.52M | 282.13M | 259.82M | 259.11M | 234.96M | 272.51M | 260.57M | 236.5M | 223.5M | 223.76M | 217.38M | 203.13M | 188.98M | 195.86M | 186.09M | 228.67M | 230.74M | 224.9M | 202.64M | 189.91M |
| Cash & Short-Term Investments | 76.26M | 221M | 176.5M | 191.34M | 174.95M | 161.6M | 131.93M | 162.25M | 129.8M | 153.2M | 116.66M | 127.86M | 139.4M | 108.96M | 129.46M | 158.8M | 157.72M | 144.54M | 122.63M | 114.89M |
| Cash Only | 0 | 221M | 176.5M | 191.34M | 174.95M | 161.6M | 131.93M | 162.25M | 129.8M | 153.2M | 116.66M | 127.86M | 139.4M | 108.96M | 129.46M | 158.8M | 157.72M | 144.54M | 122.63M | 114.89M |
| Short-Term Investments | 76.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 39.65M | 41.98M | 65.66M | 51.54M | 40.07M | 41.87M | 63.41M | 48.01M | 42.91M | 44.89M | 51.45M | 29.05M | 34.16M | 42.26M | 45.22M | 31.69M | 31.59M | 33.66M | 41.33M | 29.45M |
| Days Sales Outstanding | 21.63 | 27.72 | 34.05 | 25.82 | 22.91 | 28.79 | 31.23 | 27.31 | 26.13 | 28.38 | 24.23 | 19.27 | 23.62 | 26.3 | 23.21 | 19.46 | 19.84 | 21.81 | 21.14 | 22.66 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 146.55M | 0 | 17.66M | 1.8M | 1.63M | 48.37M | 51.48M | 8.56M | 34.95M | 8.56M | 36.24M | 31.47M | 0 | 27.2M | 0 | 26.7M | 26.8M | 31.17M | 27M | 32.42M |
| Total Non-Current Assets | 255.23M | 255.79M | 283.62M | 266.19M | 302.41M | 306.15M | 309.53M | 333.09M | 337.21M | 335.22M | 340M | 352.15M | 369.83M | 422.67M | 499.16M | 432.15M | 431.33M | 546.51M | 522.97M | 533.28M |
| Property, Plant & Equipment | 124.92M | 123.72M | 128.28M | 132.34M | 162.09M | 165.69M | 168.16M | 190.29M | 192.19M | 187.41M | 187.53M | 200.09M | 204.75M | 208.33M | 209.76M | 209.64M | 210.23M | 204.54M | 180.36M | 186.45M |
| Fixed Asset Turnover | 1.38x | 1.39x | 1.22x | 1.11x | 0.99x | 0.99x | 0.92x | 0.80x | 0.81x | 0.82x | 0.79x | 0.75x | 0.71x | 0.72x | 0.73x | 0.71x | 0.72x | 0.80x | 0.84x | 0.75x |
| Goodwill | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 59.59M | 112.59M | 112.59M | 112.59M | 112.59M | 243.99M | 243.49M | 243.77M |
| Intangible Assets | 28.22M | 28.22M | 28.22M | 28.22M | 28.22M | 28.22M | 28.22M | 28.23M | 29.02M | 30.28M | 31.54M | 32.8M | 35.84M | 50.79M | 54.73M | 60.69M | 64.64M | 82.09M | 85.08M | 88.94M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 600K | 0 | 2.2M | 2.6M | 7M | 4.2M | 0 | 4.5M | 4.5M | 3M | 2.3M | -5.06M | 9.67M |
| Other Non-Current Assets | 5.88M | 6M | 6.33M | 5.96M | 6.55M | 6.59M | 6.25M | 3.82M | 5.29M | 4.72M | 7.39M | 52.66M | 12.76M | 16.28M | 12.02M | 12.37M | 12.34M | 13.59M | 14.04M | 4.46M |
| Total Assets | 537.75M | 537.91M | 543.43M | 525.3M | 537.37M | 578.66M | 570.1M | 569.59M | 560.7M | 558.98M | 557.39M | 555.27M | 558.81M | 618.52M | 685.25M | 660.83M | 662.07M | 771.41M | 725.61M | 723.19M |
| Asset Turnover | 0.32x | 0.32x | 0.30x | 0.31x | 0.29x | 0.29x | 0.29x | 0.27x | 0.27x | 0.28x | 0.27x | 0.27x | 0.25x | 0.23x | 0.23x | 0.23x | 0.21x | 0.21x | 0.21x | 0.16x |
| Asset Growth % | 0.07% | -7.04% | -4.68% | -7.78% | -4.16% | 3.52% | 2.28% | 2.58% | 0.34% | -9.63% | -18.66% | -15.97% | -15.6% | -19.82% | -5.56% | -8.62% | 41.19% | 66.54% | 95.57% | 95.35% |
| Total Current Liabilities | 86.96M | 94.54M | 75.05M | 91.39M | 82.91M | 83.43M | 79.16M | 89.41M | 78.88M | 79.63M | 73.99M | 82.28M | 79.19M | 79.33M | 70.76M | 95.84M | 95.06M | 93.7M | 83.68M | 90.13M |
| Accounts Payable | 5.15M | 8.14M | 4.82M | 7.71M | 10.07M | 7.85M | 7.85M | 10.46M | 7M | 7.34M | 8.66M | 7.98M | 5.66M | 6.8M | 3.81M | 26.58M | 26.55M | 11.27M | 13.5M | 9.07M |
| Days Payables Outstanding | 7.89 | 7.4 | 7.89 | 10.95 | 10.39 | 9.42 | 11.75 | 10.65 | 8.56 | 10.05 | 10.82 | 8.56 | 7.56 | 6.46 | 19.18 | 34.03 | 23.87 | 15.55 | 15.41 | 13.1 |
| Short-Term Debt | 0 | 16.25M | 11.37M | 0 | 0 | 0 | 0 | 13.54M | 0 | 0 | 0 | 0 | 14.03M | 0 | 14.4M | 23.09M | 23.45M | 8.75M | 22.45M | 8.75M |
| Deferred Revenue (Current) | 23.93M | 25.19M | 23.02M | 23.95M | 24.97M | 25.09M | 23.47M | 27.32M | 25.62M | 26.93M | 23.83M | 0 | 28.55M | 28.87M | 23.76M | 27.59M | 27.39M | 0 | 21.78M | 0 |
| Other Current Liabilities | 5.63M | 44.96M | 13.38M | 30.03M | 20.32M | 18.04M | 20.55M | 15.99M | 17.4M | 15.36M | 16.71M | 29.24M | 13.23M | 16.36M | 13.78M | 4.25M | 2.96M | 27.92M | 1.43M | 25.99M |
| Current Ratio | 3.25x | 2.98x | 3.46x | 2.84x | 2.83x | 3.27x | 3.29x | 2.65x | 2.83x | 2.81x | 2.94x | 2.47x | 2.39x | 2.47x | 2.63x | 2.39x | 2.43x | 2.40x | 2.42x | 2.11x |
| Quick Ratio | 3.25x | 2.98x | 3.46x | 2.84x | 2.83x | 3.27x | 3.29x | 2.65x | 2.83x | 2.81x | 2.94x | 2.47x | 2.39x | 2.47x | 2.63x | 2.39x | 2.43x | 2.40x | 2.42x | 2.11x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 136.73M | 137.21M | 173.6M | 154.57M | 182.22M | 185.22M | 187.07M | 189.76M | 193.13M | 190.88M | 191.42M | 191.6M | 194.74M | 196.28M | 264.76M | 249.64M | 251.01M | 254.53M | 226.32M | 228.62M |
| Long-Term Debt | 81.64M | 54.01M | 94.67M | 94.37M | 94.06M | 93.75M | 93.42M | 93.09M | 92.75M | 95.04M | 94.68M | 94.32M | 93.94M | 93.56M | 93.15M | 147.07M | 148.65M | 150.21M | 151.77M | 153.34M |
| Capital Lease Obligations | 55.1M | 0 | 56.92M | 60.2M | 88.16M | 91.47M | 93.64M | 96.67M | 100.38M | 95.84M | 96.74M | 97.29M | 100.8M | 102.73M | 101.42M | 102.57M | 102.37M | 96.86M | 69.49M | 73.42M |
| Deferred Tax Liabilities | 0 | 0 | 22.01M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70.19M | 0 | 0 | 0 | 5.06M | 0 |
| Other Non-Current Liabilities | 0 | 83.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.46M | 5.06M | 1.86M |
| Total Liabilities | 223.69M | 231.75M | 248.65M | 245.96M | 265.13M | 268.65M | 266.22M | 279.17M | 272.01M | 270.51M | 265.41M | 273.88M | 273.93M | 275.61M | 335.52M | 345.48M | 346.07M | 348.23M | 310M | 318.75M |
| Total Debt | 147.84M | 70.25M | 162.96M | 166.24M | 195.67M | 198.71M | 200.62M | 203.3M | 205.38M | 204.13M | 204.73M | 205.81M | 208.77M | 209.8M | 208.97M | 287.06M | 289.17M | 270.24M | 257.42M | 249.38M |
| Net Debt | 147.84M | -150.74M | -13.54M | -25.1M | 20.72M | 37.11M | 68.7M | 41.05M | 75.58M | 50.93M | 88.07M | 77.95M | 69.37M | 100.84M | 79.51M | 128.26M | 131.45M | 125.69M | 134.79M | 134.5M |
| Debt / Equity | 0.47x | 0.23x | 0.55x | 0.60x | 0.72x | 0.64x | 0.66x | 0.70x | 0.71x | 0.71x | 0.70x | 0.73x | 0.73x | 0.61x | 0.60x | 0.91x | 0.92x | 0.64x | 0.62x | 0.62x |
| Debt / EBITDA | 8.46x | 2.71x | 7.03x | 12.19x | 17.61x | 12.24x | 7.90x | 22.08x | 27.56x | 19.80x | 9.74x | 15.33x | - | 87.93x | 27.44x | 41.27x | - | 20.25x | 10.39x | 44.15x |
| Net Debt / EBITDA | 8.46x | -5.81x | -0.58x | -1.84x | 1.86x | 2.29x | 2.70x | 4.46x | 10.14x | 4.94x | 4.19x | 5.81x | - | 42.26x | 10.44x | 18.44x | - | 9.42x | 5.44x | 23.81x |
| Interest Coverage | - | 27.55x | 16.27x | 12.86x | 6.37x | 15.79x | 41.20x | 6.54x | 4.05x | 41.35x | 26.92x | 8.08x | -59.50x | -3.02x | 1.05x | -0.24x | -41.88x | 2.90x | 6.49x | 0.97x |
| Total Equity | 314.06M | 306.17M | 294.78M | 279.34M | 272.24M | 310.01M | 303.88M | 290.42M | 288.69M | 288.47M | 291.98M | 281.39M | 284.88M | 342.91M | 349.73M | 315.35M | 316M | 423.18M | 415.61M | 404.44M |
| Equity Growth % | 15.36% | -1.24% | -2.99% | -3.82% | -5.7% | 7.47% | 4.08% | 3.21% | 1.34% | -15.88% | -16.51% | -10.77% | -9.85% | -18.97% | -15.85% | -22.03% | -21.61% | 5.63% | 35.41% | 35.7% |
| Book Value per Share | 16.70 | 16.28 | 15.80 | 14.89 | 15.10 | 16.83 | 16.55 | 15.92 | 15.92 | 16.20 | 16.32 | 15.79 | 15.83 | 17.98 | 18.43 | 16.66 | 16.71 | 22.42 | 22.04 | 21.45 |
| Total Shareholders' Equity | 314.06M | 306.17M | 294.78M | 279.34M | 272.24M | 310.01M | 303.88M | 290.42M | 288.69M | 288.47M | 291.98M | 281.39M | 284.88M | 342.91M | 349.73M | 315.35M | 316M | 423.18M | 415.61M | 404.44M |
| Common Stock | 183K | 184K | 181K | 181K | 180K | 180K | 177K | 177K | 177K | 176K | 176K | 178K | 178K | 190K | 189K | 189K | 189K | 189K | 187K | 187K |
| Retained Earnings | 6M | 231K | -16.5M | -29.11M | -34.67M | -34.34M | -41.8M | -53.31M | -54.04M | -52.88M | -49.1M | -58.86M | -54.01M | 6.32M | 13.89M | 20.47M | 24.24M | 134.26M | 128.93M | 119.55M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -7K | 0 | -18K | -27K | -28K | -48K | -7K | 190K | 867K | 1.35M | 1.64M | 2.54M | 2.88M | 2.63M | 3.1M | 3.14M | 1.94M | 1.43M | 108K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |