American Public Education, Inc. (APEI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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APEI Revenue Growth
Revenue Breakdown (FY 2025)
APEI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
APEI Revenue Analysis (2014–2025)
As of May 8, 2026, American Public Education, Inc. (APEI) generated trailing twelve-month (TTM) revenue of $1.47 billion, reflecting explosive growth of +494.8% year-over-year. The most recent quarter (Q4 2025) recorded $976.2 million in revenue, up 498.1% sequentially.
Looking at the longer-term picture, APEI's 5-year compound annual growth rate (CAGR) stands at +15.1%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $648.9 million in 2025, representing a new all-time high.
Revenue diversification analysis shows APEI's business is primarily driven by Instructional Services, Net Of Grants And Scholarships (91%), Textbook And Other Course Materials (7%), and Other Fees (1%). With over half of revenue concentrated in Instructional Services, Net Of Grants And Scholarships, the company maintains significant focus in this area while developing other growth vectors.
When compared to Consumer Defensive sector peers including PRDO (+17.7% YoY), STRA (+3.0% YoY), and GPI (+7.2% YoY), APEI has outperformed the peer group in terms of revenue growth. Compare APEI vs PRDO →
APEI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| APEICurrent | $1.5B | +494.8% | +15.1% | - | |
 PRDO | $846M | +17.7% | +4.2% | 23.2% | |
 STRA | $1.3B | +3.0% | +4.3% | 15.5% | |
 GPI | $22.6B | +7.2% | +16.3% | 4.2% | |
 LAUR | $1.7B | +13.8% | +10.7% | 25.3% | |
 UTI | $836M | +11.0% | +22.7% | 10.0% |
APEI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $648.9M | +3.9% | $0 | - | $0 | - |
| 2024 | $624.6M | +4.0% | $328.9M | 52.7% | $33.1M | 5.3% |
| 2023 | $600.5M | -1.0% | $307.7M | 51.2% | $-48,306,000 | -8.0% |
| 2022 | $606.3M | +44.8% | $317.9M | 52.4% | $-137,348,000 | -22.7% |
| 2021 | $418.8M | +30.1% | $246.2M | 58.8% | $30.4M | 7.3% |
| 2020 | $321.8M | +12.4% | $199.6M | 62.0% | $24.8M | 7.7% |
| 2019 | $286.3M | -3.8% | $174.4M | 60.9% | $28.5M | 10.0% |
| 2018 | $297.7M | -0.5% | $182.4M | 61.3% | $33.4M | 11.2% |
| 2017 | $299.2M | -4.4% | $183.1M | 61.2% | $34.9M | 11.6% |
| 2016 | $313.1M | -4.5% | $196.1M | 62.6% | $38.3M | 12.2% |
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Start ComparisonAPEI — Frequently Asked Questions
Quick answers to the most common questions about buying APEI stock.
Is APEI's revenue growth accelerating or slowing?
APEI revenue is accelerating at +494.8% year-over-year, exceeding the 5-year CAGR of +15.1%. TTM revenue reached $1.5B. Growth momentum has increased versus prior periods.
What is APEI's long-term revenue growth rate?
American Public Education, Inc.'s 5-year revenue CAGR of +15.1% reflects the sustained expansion pattern. Current YoY growth of +494.8% is above this long-term average.
How is APEI's revenue distributed by segment?
APEI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.