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Adtalem Global Education Inc. (ATGE) 10-Year Financial Performance & Capital Metrics

ATGE • • Industrial / General
Consumer DefensiveEducation & TrainingHigher Education & Professional TrainingMedical & Healthcare Education
AboutAdtalem Global Education Inc. provides workforce solutions worldwide. It operates through three segments, Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers degree and non-degree programs in the nursing and health professions postsecondary education industry. This segment operates Chamberlain University. The Walden segment offers online certificates, bachelor's, master's, and doctoral degrees, including nursing, education, counseling, business, psychology, public health, social work and human services, public administration and public policy, and criminal justice. This segment also operates Walden University. The Medical and Veterinary segment provides degree and non-degree programs in the medical and veterinary postsecondary education industry. This segment operates American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. The company was formerly known as DeVry Education Group Inc. and changed its name to Adtalem Global Education Inc. in May 2017. Adtalem Global Education Inc. was incorporated in 1987 and is based in Chicago, Illinois.Show more
  • Revenue $1.79B +12.9%
  • EBITDA $393M +34.6%
  • Net Income $237M +73.3%
  • EPS (Diluted) 6.07 +79.1%
  • Gross Margin 56.86% +1.7%
  • EBITDA Margin 22% +19.3%
  • Operating Margin 19.1% +39.4%
  • Net Margin 13.26% +53.6%
  • ROE 16.92% +74.8%
  • ROIC 12.8% +60.2%
  • Debt/Equity 0.54 -12.8%
  • Interest Coverage 6.53 +91.5%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 8/9
  • ✓FCF machine: 16.1% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 15.6%
  • ✓Share count reduced 4.9% through buybacks
  • ✓Healthy 5Y average net margin of 11.7%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.66%
5Y15.6%
3Y8.97%
TTM12.24%

Profit (Net Income) CAGR

10Y5.42%
5Y-
3Y-8.65%
TTM46.24%

EPS CAGR

10Y10.99%
5Y6.17%
3Y-
TTM51.25%

ROCE

10Y Avg7.18%
5Y Avg7.81%
3Y Avg10.43%
Latest15.19%

Peer Comparison

Medical & Healthcare Education
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ATGEAdtalem Global Education Inc.4.26B117.3919.3412.85%13.74%17.29%6.74%0.54
AFYAAfya Limited674.82M14.392.0814.9%20.08%15.24%100%0.74

Profit & Loss

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+1.84B1.81B1.23B1.24B866.43M899.25M1.38B1.45B1.58B1.79B
Revenue Growth %-0.03%-0.02%-0.32%0.01%-0.3%0.04%0.54%0.05%0.09%0.13%
Cost of Goods Sold+986.78M962.19M645.6M623.54M457.17M457.9M659.78M648.49M698.55M771.43M
COGS % of Revenue0.54%0.53%0.52%0.5%0.53%0.51%0.48%0.45%0.44%0.43%
Gross Profit+856.76M847.61M585.61M616.15M409.26M441.34M722.07M802.34M886.1M1.02B
Gross Margin %0.46%0.47%0.48%0.5%0.47%0.49%0.52%0.55%0.56%0.57%
Gross Profit Growth %-0.06%-0.01%-0.31%0.05%-0.34%0.08%0.64%0.11%0.1%0.15%
Operating Expenses+654.05M618.15M373.06M400.41M299.19M330.94M645.32M634.17M669.05M675.32M
OpEx % of Revenue0.35%0.34%0.3%0.32%0.35%0.37%0.47%0.44%0.42%0.38%
Selling, General & Admin352.65M369.04M327.71M400.41M280.29M292.48M566.49M576.01M614.47M671.11M
SG&A % of Revenue0.19%0.2%0.27%0.32%0.32%0.33%0.41%0.4%0.39%0.38%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses000018.9M38.46M78.83M58.16M54.59M4.21M
Operating Income+-12.14M138.61M207.48M185.99M110.07M110.4M76.75M168.17M217.05M341.54M
Operating Margin %-0.01%0.08%0.17%0.15%0.13%0.12%0.06%0.12%0.14%0.19%
Operating Income Growth %-1.08%12.42%0.5%-0.1%-0.41%0%-0.3%1.19%0.29%0.57%
EBITDA+73.41M195.59M260.3M226.69M195.13M144.29M218.59M270.79M292.37M393.46M
EBITDA Margin %0.04%0.11%0.21%0.18%0.23%0.16%0.16%0.19%0.18%0.22%
EBITDA Growth %-0.7%1.66%0.33%-0.13%-0.14%-0.26%0.51%0.24%0.08%0.35%
D&A (Non-Cash Add-back)85.55M56.97M52.82M40.71M85.06M33.89M141.85M102.61M75.32M51.92M
EBIT156.76M200.62M213.3M170.22M224.5M148.86M155.57M226.33M271.64M345.75M
Net Interest Income+-5.27M-4.24M-10.98M-15.93M-15.82M-38.74M-124.97M-52.52M-63.66M-44.1M
Interest Income666K4.92M598K3.97M3.69M4.09M3.82M10.65M08.22M
Interest Expense5.93M9.14M11.58M19.9M19.51M42.84M129.35M63.17M63.66M52.32M
Other Income/Expense-173.39M-4.24M-8.79M-16.08M94.92M-34.63M-128.24M-56.13M-53.12M-43.03M
Pretax Income+-17.3M134.39M198.68M170.18M204.99M75.77M-51.49M112.03M163.94M298.51M
Pretax Margin %-0.01%0.07%0.16%0.14%0.24%0.08%-0.04%0.08%0.1%0.17%
Income Tax+-14.54M10.42M84.1M34.16M-14.94M12.32M-15.54M10.28M26.22M65.84M
Effective Tax Rate %0.18%0.91%0.17%0.8%-0.42%0.92%-6.04%0.83%0.83%0.79%
Net Income+-3.17M122.28M33.77M136.02M-85.33M70.03M310.99M93.36M136.78M237.06M
Net Margin %-0%0.07%0.03%0.11%-0.1%0.08%0.23%0.06%0.09%0.13%
Net Income Growth %-1.02%39.62%-0.72%3.03%-1.63%1.82%3.44%-0.7%0.47%0.73%
Net Income (Continuing)125.5M120.97M114.58M106.87M219.93M63.45M-35.95M101.75M137.71M232.68M
Discontinued Operations02.31M-80.15M21.52M-305.7M6.58M346.95M-8.39M-936K4.39M
Minority Interest5.11M6.29M8.32M9.54M2.85M1.79M0000
EPS (Diluted)+-0.051.910.542.294.501.49-3.362.053.396.07
EPS Growth %-1.02%39.82%-0.72%3.24%0.97%-0.67%-3.26%1.61%0.65%0.79%
EPS (Basic)-0.051.930.552.324.541.50-3.362.083.476.27
Diluted Shares Outstanding64.37M64.02M62.28M59.33M54.09M51.65M48.39M45.6M40.31M38.33M
Basic Shares Outstanding64.04M63.36M61.46M58.54M53.66M51.32M48.39M44.78M39.41M37.09M
Dividend Payout Ratio-0.09%--------

Balance Sheet

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+518.11M471.21M688M504.7M692.77M1.51B557.1M480.3M418.08M416.19M
Cash & Short-Term Investments311.77M245.99M434.94M308.13M509.48M1.32B365.74M287.57M234.4M213.96M
Cash Only308.16M241.98M430.69M299.44M500.52M1.3B347.94M275.07M221.2M201.16M
Short-Term Investments3.61M4.01M4.25M8.68M8.97M20.6M17.8M12.5M13.2M12.8M
Accounts Receivable162.39M130.88M146.73M66.96M87.04M43.04M81.64M102.75M126.83M146.19M
Days Sales Outstanding32.1526.443.519.7136.6717.4721.5625.8529.2129.84
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets7.18M63.39M47.44M204.22M45.57M155.93M109.73M89.97M56.85M56.04M
Total Non-Current Assets+1.58B1.84B1.66B1.74B1.54B1.57B2.47B2.33B2.32B2.34B
Property, Plant & Equipment521.76M488.83M388.65M364.68M461.04M451.06M467.92M419.33M425.28M447.32M
Fixed Asset Turnover3.53x3.70x3.17x3.40x1.88x1.99x2.95x3.46x3.73x4.00x
Goodwill588.01M851.28M813.89M874.45M686.21M310.21M961.26M961.26M961.26M961.26M
Intangible Assets342.86M413.8M362.93M418.1M287.51M137.5M873.58M812.34M776.69M765.47M
Long-Term Investments40.75M21.8M23.1M25.1M56.1M69.79M68.84M27.04M26.13M64.66M
Other Non-Current Assets32.91M33.34M29.61M37.35M22.78M547.84M50.44M53.59M84.88M64.49M
Total Assets+2.1B2.31B2.34B2.24B2.23B3.08B3.03B2.81B2.74B2.75B
Asset Turnover0.88x0.78x0.53x0.55x0.39x0.29x0.46x0.52x0.58x0.65x
Asset Growth %0.01%0.1%0.01%-0.04%-0.01%0.38%-0.02%-0.07%-0.02%0%
Total Current Liabilities+361.84M377.33M365.78M311.63M345.98M408.81M423.65M431.2M487.66M507.93M
Accounts Payable64.69M43.08M47.48M53.38M46.48M42.42M57.14M81.81M102.63M105.02M
Days Payables Outstanding23.9316.3426.8431.2537.1133.8131.6146.0553.6249.69
Short-Term Debt003M3M54.64M56.99M50.78M37.67M31.43M35.16M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities0257.34M137.24M208.58M52.79M186.26M98.12M105.81M96.96M77.29M
Current Ratio1.43x1.25x1.88x1.62x2.00x3.71x1.32x1.11x0.86x0.82x
Quick Ratio1.43x1.25x1.88x1.62x2.00x3.71x1.32x1.11x0.86x0.82x
Cash Conversion Cycle----------
Total Non-Current Liabilities+147.96M261.38M450.78M529.99M569.43M1.37B1.12B922M884.63M810.8M
Long-Term Debt0125M290.07M398.09M286.12M1.07B838.91M695.08M648.71M552.67M
Capital Lease Obligations0000176.03M167.07M177.04M163.44M167.71M186.17M
Deferred Tax Liabilities29.94M34.71M29.11M29.43M24.98M26.18M25.55M26.07M29.53M31.86M
Other Non-Current Liabilities118.03M102.66M131.6M102.47M82.31M112.22M73.7M37.42M38.67M15.1M
Total Liabilities509.8M638.71M816.57M841.62M915.41M1.78B1.54B1.35B1.37B1.32B
Total Debt+0125M293.07M401.09M568.43M1.29B1.07B896.19M847.85M774M
Net Debt-308.16M-116.98M-137.62M101.65M67.92M-3.61M718.8M621.12M626.65M572.84M
Debt / Equity-0.07x0.19x0.29x0.43x0.99x0.72x0.61x0.62x0.54x
Debt / EBITDA-0.64x1.13x1.77x2.91x8.95x4.88x3.31x2.90x1.97x
Net Debt / EBITDA-4.20x-0.60x-0.53x0.45x0.35x-0.03x3.29x2.29x2.14x1.46x
Interest Coverage-2.05x15.16x17.92x9.35x5.64x2.58x0.59x2.66x3.41x6.53x
Total Equity+1.59B1.68B1.53B1.4B1.31B1.3B1.49B1.46B1.37B1.43B
Equity Growth %-0%0.06%-0.09%-0.08%-0.06%-0.01%0.14%-0.02%-0.06%0.05%
Book Value per Share24.6626.1724.5423.6124.2825.2330.8231.9633.9737.40
Total Shareholders' Equity1.58B1.67B1.52B1.39B1.31B1.3B1.49B1.46B1.37B1.43B
Common Stock765K781K793K801K807K811K818K822K832K839K
Retained Earnings1.77B1.88B1.92B2.01B1.93B2.01B2.31B2.4B2.54B2.78B
Treasury Stock-519.45M-569.93M-711.37M-970.94M-1.11B-1.22B-1.34B-1.51B-1.78B-2.01B
Accumulated OCI-42.47M-59.12M-142.17M-137.29M-9.05M-7.37M-2.23M-2.23M-2.23M-2.23M
Minority Interest5.11M6.29M8.32M9.54M2.85M1.79M0000

Cash Flow

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+231.57M227.96M239.19M204.86M107.69M192.2M10.6M191.91M295.77M337.9M
Operating CF Margin %0.13%0.13%0.19%0.17%0.12%0.21%0.01%0.13%0.19%0.19%
Operating CF Growth %0.14%-0.02%0.05%-0.14%-0.47%0.78%-0.94%17.1%0.54%0.14%
Net Income-2.76M123.28M114.44M136.02M71.39M70.03M-35.95M101.75M137.71M237.06M
Depreciation & Amortization85.55M84.06M52.82M51.74M100.97M84.54M186.6M151.09M107.96M84.47M
Stock-Based Compensation22.37M16.6M14.5M13.22M13.88M12.82M22.61M14.3M25.95M41.59M
Deferred Taxes-41.65M5.6M-10.6M20.76M-4.55M62K-544K-5.09M11.07M18.41M
Other Non-Cash Items236.8M101.47M86.11M29.56M36.17M32.23M-78.91M33.65M65.99M70.94M
Working Capital Changes-68.75M-103.05M-18.09M-46.45M-110.18M-7.48M-83.2M-103.79M-52.91M-114.58M
Change in Receivables-91.65M-100.12M-43.29M-27.71M-12.84M13.26M-41.39M-56.31M-76.36M-80.82M
Change in Inventory20.09M-5.97M11.86M-17.85M-71.64M-22.63M0000
Change in Payables-9.61M755K9.96M9.2M-6.34M8.53M-15.72M24.74M18.33M140K
Cash from Investing+-215.41M-379.65M-71.45M-213.84M382.52M-56.69M-551.8M23.74M-47.85M-41.92M
Capital Expenditures-69.4M-48.99M-66.53M-64.75M-44.14M-48.66M-31.05M-26.01M-48.89M-50.33M
CapEx % of Revenue0.04%0.03%0.05%0.05%0.05%0.05%0.02%0.02%0.03%0.03%
Acquisitions----------
Investments----------
Other Investing31.07M-48.99M-62.25M-26.2M271.99M-48.66M967.48M43.63M00
Cash from Financing+-65.62M88.8M37.2M-137.53M-256.11M676.47M-424.48M-288.51M-301.8M-316.02M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-22.98M-11.41M00000000
Share Repurchases----------
Other Financing1.49M28.54M3.44M15.12M-11.42M-16.33M-74.76M-14.52M10.17M-14.2M
Net Change in Cash----------
Free Cash Flow+162.17M178.97M172.66M140.11M63.55M143.53M-20.45M165.9M246.88M287.57M
FCF Margin %0.09%0.1%0.14%0.11%0.07%0.16%-0.01%0.11%0.16%0.16%
FCF Growth %0.42%0.1%-0.04%-0.19%-0.55%1.26%-1.14%9.11%0.49%0.16%
FCF per Share2.522.802.772.361.172.78-0.423.646.137.50
FCF Conversion (FCF/Net Income)-73.14x1.86x7.08x1.51x-1.26x2.74x0.03x2.06x2.16x1.43x
Interest Paid3.51M7.33M11.51M20.41M20.16M14.43M107.09M53.13M57.84M46.6M
Taxes Paid-1.42M14.9M8.37M3.23M12.44M26.43M94.36M12.31M31.48M32.78M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-0.2%7.5%2.11%9.29%-6.29%5.35%22.26%6.33%9.68%16.92%
Return on Invested Capital (ROIC)-0.72%7.33%10.55%9.64%5.72%6.18%3.28%5.88%7.99%12.8%
Gross Margin46.47%46.83%47.56%49.7%47.24%49.08%52.25%55.3%55.92%56.86%
Net Margin-0.17%6.76%2.74%10.97%-9.85%7.79%22.51%6.43%8.63%13.26%
Debt / Equity-0.07x0.19x0.29x0.43x0.99x0.72x0.61x0.62x0.54x
Interest Coverage-2.05x15.16x17.92x9.35x5.64x2.58x0.59x2.66x3.41x6.53x
FCF Conversion-73.14x1.86x7.08x1.51x-1.26x2.74x0.03x2.06x2.16x1.43x
Revenue Growth-3.48%-1.83%-31.97%0.69%-30.11%3.79%53.67%4.99%9.22%12.85%

Revenue by Segment

2016201720182019202020212022202320242025
Chamberlain------557.54M571.03M633.52M725.77M
Chamberlain Growth-------2.42%10.94%14.56%
Walden University------485.39M533.73M595.33M693.43M
Walden University Growth-------9.96%11.54%16.48%
Medical and Veterinary------344.19M346.07M355.8M369.09M
Medical and Veterinary Growth-------0.54%2.81%3.73%
Medical And Healthcare936.33M802.46M815.67M849.86M866.43M906.9M----
Medical And Healthcare Growth--14.30%1.65%4.19%1.95%4.67%----
Financial Services----185.57M205.48M----
Financial Services Growth-----10.73%----
Business And Law---225.84M------
Business And Law Growth----------
Financial Service---167.21M------
Financial Service Growth----------
Home Office And Other---2.59M-3.23M------
Home Office And Other Growth----24.58%------
Technology And Business-276.34M270.93M-------
Technology And Business Growth---1.96%-------
Professional Education-131.77M147.19M-------
Professional Education Growth--11.71%-------
U.s. Traditional Postsecondary-601.92M--------
U.s. Traditional Postsecondary Growth----------
Business Technology And Management611.13M---------
Business Technology And Management Growth----------
International K Twelve And Professional Education299.02M---------
International K Twelve And Professional Education Growth----------
Intersegment Revenues-2.94M---------
Intersegment Revenues Growth----------

Revenue by Geography

2016201720182019202020212022202320242025
Domestic Operations1.29B1.19B610.97M640.73M651.34M717.97M1.04B1.1B1.23B1.42B
Domestic Operations Growth--8.25%-48.56%4.87%1.66%10.23%45.26%5.93%11.23%15.49%
Barbados, St. Kitts, and St. Maarten--------355.8M369.09M
Barbados, St. Kitts, and St. Maarten Growth---------3.73%
Barbados, Dominica, St. Kitts and St. Maarten------344.19M346.07M--
Barbados, Dominica, St. Kitts and St. Maarten Growth-------0.54%--
Barbados Dominica St. Kitts And St. Maarten---362.43M354.77M343.09M----
Barbados Dominica St. Kitts And St. Maarten Growth-----2.11%-3.29%----
Dominica And S T Kitts Nevis346.24M340.86M342.83M-------
Dominica And S T Kitts Nevis Growth--1.55%0.58%-------
BRAZIL196.1M276.34M270.93M-------
BRAZIL Growth-40.92%-1.96%-------

Frequently Asked Questions

Valuation & Price

Adtalem Global Education Inc. (ATGE) has a price-to-earnings (P/E) ratio of 19.3x. This is roughly in line with market averages.

Growth & Financials

Adtalem Global Education Inc. (ATGE) reported $1.83B in revenue for fiscal year 2025. This represents a 12% decrease from $2.09B in 2012.

Adtalem Global Education Inc. (ATGE) grew revenue by 12.9% over the past year. This is steady growth.

Yes, Adtalem Global Education Inc. (ATGE) is profitable, generating $252.0M in net income for fiscal year 2025 (13.3% net margin).

Dividend & Returns

Adtalem Global Education Inc. (ATGE) has a return on equity (ROE) of 16.9%. This is reasonable for most industries.

Adtalem Global Education Inc. (ATGE) generated $323.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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