Legacy Education Inc. (LGCY) 10-Year Financial Performance & Capital Metrics

LGCY • • Industrial / General

Consumer DefensiveEducation & TrainingVocational & Technical EducationTechnical & Trade Schools

AboutLegacy Education Inc. provides education services to students, high school graduates, and working parents in the United States. The company offers a range of certificate or degree programs, including ultrasound technician (UT), vocational nursing (VN), VN Associate of Applied Science degree, Associate degree of nursing, nursing assistant, magnetic resonance imaging (MRI) Associate of Applied Science, cardiac sonography, pharmacy technician, dental assisting, clinical medical assisting, medical administrative assisting, medical billing and coding, and veterinary assistant. It also provides a range of certificate or degree programs, such as phlebotomy technician avocational, nursing assistant avocational, UT Associate of Applied Science degree, business administrative specialist, computer specialist, accounting, medical administrative assistant, medical assisting, veterinary technology Associate of Applied Science, avocational phlebotomy technician program, registered nurse to Bachelor of Science in nursing, and diagnostic medical sonography program. The company operates under the High Desert Medical College, Central Coast College, and Integrity College of Health academic institutions. Legacy Education Inc. was incorporated in 2020 and is based in Temecula, California.Show more

Revenue $46M +29.7%
EBITDA $6M +68.5%
Net Income $5M +91.8%
EPS (Diluted) 0.44 +100.0%
Gross Margin 42.71% -57.0%
EBITDA Margin 14.09% +29.9%
Operating Margin 13.51% +32.3%
Net Margin 11.12% +47.8%
ROE 27.03% +47.1%
ROIC 32.64% +5.0%
Debt/Equity 0.22 -40.1%
Interest Coverage 52.61 +39.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.5%
✓Strong Piotroski F-Score: 7/9
✓Share count reduced 57.3% through buybacks
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗Profits declining 34.9% over 5 years
✗Low quality earnings: Net income not backed by cash flow
✗Sales declining 39.2% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-20.99%

5Y-39.23%

3Y-7.33%

TTM-5.73%

Profit (Net Income) CAGR

10Y-

5Y-34.93%

3Y-18.96%

TTM176.86%

EPS CAGR

10Y-

5Y-7.22%

3Y6.92%

TTM882.06%

ROCE

10Y Avg10.94%

5Y Avg34.7%

3Y Avg25.14%

Latest28.61%

Peer Comparison

Technical & Trade Schools

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LINCLincoln Educational Services Corporation	844.67M	26.71	83.47	16.4%	2.86%	7.6%		1.00
UTIUniversal Technical Institute, Inc.	1.51B	27.77	24.58	14.05%	7.54%	19.21%	3.66%	0.79
LGCYLegacy Education Inc.	128.31M	10.21	23.20	29.74%	32.53%	48.84%	0.95%	0.22

Profit & Loss

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Sales/Revenue+	532.3M	338.78M	314.36M	436.3M	554.86M	16.43M	57.81M	30.7M	35.46M	46M
Revenue Growth %	0.1%	-0.36%	-0.07%	0.39%	0.27%	-0.97%	2.52%	-0.47%	0.15%	0.3%
Cost of Goods Sold+	372.49M	371.75M	329.75M	310.16M	360.28M	11.61M	27.75M	18.12M	20.79M	26.35M
COGS % of Revenue	0.7%	1.1%	1.05%	0.71%	0.65%	0.71%	0.48%	0.59%	0.59%	0.57%
Gross Profit+	159.81M	-32.97M	-15.39M	126.14M	194.58M	5.04M	30.06M	12.59M	35.23M	19.65M
Gross Margin %	0.3%	-0.1%	-0.05%	0.29%	0.35%	0.31%	0.52%	0.41%	0.99%	0.43%
Gross Profit Growth %	-0.07%	-1.21%	0.53%	9.2%	0.54%	-0.97%	4.96%	-0.58%	1.8%	-0.44%
Operating Expenses+	70.51M	62.89M	57.91M	69.2M	102.57M	7.43M	20.83M	9.36M	11.05M	13.43M
OpEx % of Revenue	0.13%	0.19%	0.18%	0.16%	0.18%	0.45%	0.36%	0.3%	0.31%	0.29%
Selling, General & Admin	38.98M	46.51M	43.64M	49.37M	73.04M	7.2M	20.25M	9.12M	10.82M	13.17M
SG&A % of Revenue	0.07%	0.14%	0.14%	0.11%	0.13%	0.44%	0.35%	0.3%	0.31%	0.29%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	31.53M	16.38M	14.27M	19.82M	29.53M	225.52K	186.78K	239.64K	224.49K	0
Operating Income+	-356.94M	-725.7M	-85M	18.06M	47.83M	-2.38M	9.23M	3.22M	3.62M	6.22M
Operating Margin %	-0.67%	-2.14%	-0.27%	0.04%	0.09%	-0.14%	0.16%	0.11%	0.1%	0.14%
Operating Income Growth %	-13.91%	-1.03%	0.88%	1.21%	1.65%	-1.05%	4.87%	-0.65%	0.12%	0.72%
EBITDA+	-183.25M	-548.44M	65.42M	145M	207.83M	-2.15M	9.44M	3.46M	3.85M	6.48M
EBITDA Margin %	-0.34%	-1.62%	0.21%	0.33%	0.37%	-0.13%	0.16%	0.11%	0.11%	0.14%
EBITDA Growth %	-1.98%	-1.99%	1.12%	1.22%	0.43%	-1.01%	5.39%	-0.63%	0.11%	0.69%
D&A (Non-Cash Add-back)	173.69M	177.26M	150.41M	126.94M	160M	232.83K	209.76K	239.64K	224.49K	265.04K
EBIT	-217.29M	-626.15M	24.47M	36.71M	-1.53M	-935.63K	12.25M	3.43M	3.96M	7.1M
Net Interest Income+	-66.34M	-76.56M	-78.99M	-89.14M	-152.47K	-75.66K	-45.77K	99.27K	242.84K	768.67K
Interest Income	873K	329K	67K	64K	36K	44K	124.99K	204.26K	339.1K	886.83K
Interest Expense	67.22M	76.89M	79.06M	89.21M	117.01M	119.67K	170.76K	104.99K	96.26K	118.16K
Other Income/Expense	72.43M	22.66M	30.41M	-70.56M	-241.04K	1.33M	2.86M	99.27K	242.84K	768.67K
Pretax Income+	-284.5M	-703.04M	-54.59M	-52.5M	46.8M	-1.06M	12.08M	3.32M	3.86M	6.99M
Pretax Margin %	-0.53%	-2.08%	-0.17%	-0.12%	0.08%	-0.06%	0.21%	0.11%	0.11%	0.15%
Income Tax+	-859K	-1.5M	1.23M	1.4M	2.97M	-367.65K	2.47M	986.35K	1.2M	1.87M
Effective Tax Rate %	1%	1%	1.02%	1.03%	0.94%	0.65%	0.8%	0.7%	0.69%	0.73%
Net Income+	-283.64M	-701.54M	-55.82M	-53.9M	43.83M	-687.64K	9.61M	2.34M	2.67M	5.11M
Net Margin %	-0.53%	-2.07%	-0.18%	-0.12%	0.08%	-0.04%	0.17%	0.08%	0.08%	0.11%
Net Income Growth %	-7.04%	-1.47%	0.92%	0.03%	1.81%	-1.02%	14.98%	-0.76%	0.14%	0.92%
Net Income (Continuing)	-283.64M	-701.54M	-55.82M	-53.9M	-1.22M	-687.64K	9.61M	2.34M	2.67M	5.11M
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)+	-4.72	-10.18	-0.79	-0.74	0.64	-0.05	0.36	0.20	0.22	0.44
EPS Growth %	-6.61%	-1.16%	0.92%	0.06%	1.86%	-1.07%	8.89%	-0.44%	0.1%	1%
EPS (Basic)	-4.72	-10.18	-0.79	-0.74	0.64	-0.05	0.38	0.20	0.22	0.44
Diluted Shares Outstanding	60.05M	68.93M	70.61M	72.41M	68.89M	15.07M	26.81M	27.78M	27.78M	11.87M
Basic Shares Outstanding	60.05M	68.93M	70.61M	72.41M	68.89M	15.07M	25.45M	11.87M	26.42M	11.87M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	0.34%	-

Balance Sheet

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Total Current Assets+	192.25M	129.46M	82.77M	112.6M	151.09M	6.04M	13.61M	15.74M	17.35M	24.59M
Cash & Short-Term Investments	725K	2.01M	2.56M	1.25M	1.1M	1.42M	7.85M	8.77M	9.29M	10.38M
Cash Only	725K	2.01M	2.56M	1.25M	1.1M	1.42M	7.85M	8.77M	9.29M	10.38M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	65.86M	59.41M	66.61M	90.18M	3.01M	4.25M	4.75M	6.21M	7.3M	13.08M
Days Sales Outstanding	45.16	64.01	77.34	75.44	1.98	94.5	30	73.85	75.17	103.82
Inventory	0	0	0	0	0	126.88K	369.5K	442.86K	470.74K	0
Days Inventory Outstanding	-	-	-	-	-	3.99	4.86	8.92	8.27	-
Other Current Assets	125.67M	68.05M	13.61M	21.18M	0	-106.85K	0	0	0	0
Total Non-Current Assets+	1.71B	1.5B	1.22B	1.38B	1.32B	4.72M	4.34M	4.86M	9.9M	10.59M
Property, Plant & Equipment	1.64B	1.41B	1.19B	1.36B	1.32B	583.65K	599.63K	704.47K	5.11M	4.91M
Fixed Asset Turnover	0.32x	0.24x	0.27x	0.32x	0.42x	28.15x	96.41x	43.58x	6.93x	9.38x
Goodwill	0	0	0	0	0	1.93M	1.93M	1.93M	1.93M	1.93M
Intangible Assets	2.51M	2.06M	1.65M	1.25M	894K	1.07M	1.07M	1.07M	1.06M	1.05M
Long-Term Investments	3.05M	646K	647K	0	0	750.55K	320.18K	974.25K	1.53M	1.38M
Other Non-Current Assets	57.05M	80.2M	29.43M	22.91M	6.18M	848.94K	418.56K	1.07M	98.38K	416.61K
Total Assets+	1.9B	1.63B	1.3B	1.49B	1.47B	10.76M	17.95M	20.61M	27.25M	35.17M
Asset Turnover	0.28x	0.21x	0.24x	0.29x	0.38x	1.53x	3.22x	1.49x	1.30x	1.31x
Asset Growth %	0.14%	-0.14%	-0.2%	0.15%	-0.01%	-0.99%	0.67%	0.15%	0.32%	0.29%
Total Current Liabilities+	97.58M	81.09M	86.61M	144.81M	984.65M	3.85M	6.23M	6.38M	8.49M	10.47M
Accounts Payable	2.79M	13.58M	9.09M	13.09M	368.57K	350.99K	642.61K	668.27K	722.71K	1.53M
Days Payables Outstanding	2.73	13.33	10.06	15.41	0.37	11.04	8.45	13.46	12.69	21.23
Short-Term Debt	21.18M	19.01M	17.7M	18.18M	217.28K	832.73K	821.91K	825.8K	728.26K	624.24K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	779.06K	1000K	1000K	1000K	1000K
Other Current Liabilities	64.23M	39.78M	54.52M	107.73M	982.45M	1.32M	598.71K	383.11K	614.69K	1.67M
Current Ratio	1.97x	1.60x	0.96x	0.78x	0.15x	1.57x	2.18x	2.47x	2.04x	2.35x
Quick Ratio	1.97x	1.60x	0.96x	0.78x	0.15x	1.54x	2.13x	2.40x	1.99x	2.35x
Cash Conversion Cycle	-	-	-	-	-	87.46	26.41	69.31	70.74	-
Total Non-Current Liabilities+	1.16B	1.72B	1.44B	1.62B	682.91M	834.7K	721.48K	627.03K	3.33M	2.29M
Long-Term Debt	938.88M	1.44B	1.16B	1.35B	45.44K	308.15K	222.93K	127.44K	45.33K	123.86K
Capital Lease Obligations	0	0	0	0	72.68K	34.8K	22.65K	0	3.25M	2.16M
Deferred Tax Liabilities	0	0	0	0	0	-2.06M	0	0	0	0
Other Non-Current Liabilities	224.95M	284.09M	273.9M	273.19M	0	0	0	37.64K	33.77K	905
Total Liabilities	1.26B	1.81B	1.52B	1.76B	1.67B	4.68M	6.95M	7.01M	11.82M	12.75M
Total Debt+	938.88M	1.44B	1.18B	1.36B	1.33B	1.21M	1.1M	953.24K	5.56M	4.84M
Net Debt	938.15M	1.44B	1.18B	1.36B	1.33B	-206K	-6.74M	-7.81M	-3.74M	-5.54M
Debt / Equity	2.49x	-	-	-	-	0.20x	0.10x	0.07x	0.36x	0.22x
Debt / EBITDA	-	-	18.02x	9.41x	6.40x	-	0.12x	0.28x	1.44x	0.75x
Net Debt / EBITDA	-	-	17.99x	9.41x	6.40x	-	-0.71x	-2.26x	-0.97x	-0.85x
Interest Coverage	-5.31x	-9.44x	-1.08x	0.20x	0.41x	-19.90x	54.03x	30.71x	37.62x	52.61x
Total Equity+	376.94M	-439.94M	-482.35M	-531.95M	-217.38M	6.08M	11M	13.6M	15.42M	22.42M
Equity Growth %	-0.26%	-2.17%	-0.1%	-0.1%	0.59%	1.03%	0.81%	0.24%	0.13%	0.45%
Book Value per Share	6.28	-6.38	-6.83	-7.35	-3.16	0.40	0.41	0.49	0.56	1.89
Total Shareholders' Equity	376.94M	-439.94M	-482.35M	-531.95M	-217.38M	6.08M	11M	13.6M	15.42M	22.42M
Common Stock	0	0	0	0	1.09M	611K	0	18.41K	18.58K	9.29K
Retained Earnings	376.94M	-439.94M	-482.35M	-531.95M	-218.48M	3.05M	0	-666.92K	1.11M	6.22M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Cash from Operations+	207.22M	2.05M	-310K	100.21M	175.94M	-596.95K	4.84M	1.09M	1.77M	1.65M
Operating CF Margin %	0.39%	0.01%	-0%	0.23%	0.32%	-0.04%	0.08%	0.04%	0.05%	0.04%
Operating CF Growth %	-0.14%	-0.99%	-1.15%	324.25%	0.76%	-1%	9.1%	-0.77%	0.63%	-0.07%
Net Income	-283.64M	-701.54M	-55.82M	-53.9M	43.83M	-687.64K	3.25M	2.34M	2.67M	5.11M
Depreciation & Amortization	0	0	0	0	0	232.83K	209.76K	239.64K	224.49K	265.04K
Stock-Based Compensation	0	0	0	0	0	2.26M	12.93K	0	0	1.88M
Deferred Taxes	0	0	0	0	0	114.14K	-45.06K	232.97K	-75.79K	-730K
Other Non-Cash Items	484.83M	712.72M	62.31M	153.76M	109.63M	-150K	150.6K	-42.61K	-152.89K	348.79K
Working Capital Changes	3.95M	-15.58M	-13.84M	-5.66M	15.86M	-1.05M	1.26M	-1.68M	-893.11K	-5.23M
Change in Receivables	-1.28M	6.46M	-7.2M	-23.57M	18.19M	-1.03M	-675.04K	-2.56M	-1.99M	348.79K
Change in Inventory	9.64M	-33.16M	-1.21M	13.49M	-2.63M	828.63M	0	0	0	0
Change in Payables	-3.23M	10.79M	-4.49M	4M	-1.86M	624.08K	1.05M	204.12K	163.41K	1.28M
Cash from Investing+	-632.41M	-377.42M	119.99M	-279.24M	-188.13M	-271.01K	-199.59K	-294.87K	-195.08K	-423.71K
Capital Expenditures	-640.41M	-579.46M	-41.93M	-314.49M	-228.26M	-86.48K	-199.59K	-294.87K	-195.08K	-423.71K
CapEx % of Revenue	1.2%	1.71%	0.13%	0.72%	0.41%	0.01%	0%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	8M	202.04M	161.92M	35.26M	40.13M	-115K	0	0	0	0
Cash from Financing+	423.34M	376.65M	-119.13M	177.72M	12.11M	2.06M	1.79M	129.03K	-1.05M	-238.55K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	-916.72K	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	423.34M	376.65M	-119.13M	177.72M	558.2K	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-433.2M	-577.42M	-42.24M	-214.28M	-52.32M	-683.43K	4.64M	793.73K	1.57M	1.23M
FCF Margin %	-0.81%	-1.7%	-0.13%	-0.49%	-0.09%	-0.04%	0.08%	0.03%	0.04%	0.03%
FCF Growth %	-12.96%	-0.33%	0.93%	-4.07%	0.76%	0.99%	7.79%	-0.83%	0.98%	-0.22%
FCF per Share	-7.21	-8.38	-0.60	-2.96	-0.76	-0.05	0.17	0.03	0.06	0.10
FCF Conversion (FCF/Net Income)	-0.73x	-0.00x	0.01x	-1.86x	4.01x	0.87x	0.50x	0.47x	0.66x	0.32x
Interest Paid	0	0	0	0	93.47K	75.06K	110.96K	104.99K	96.26K	118.16K
Taxes Paid	0	0	0	0	117.99K	330.64K	165.59K	1.94M	1.03M	1.3M

Key Ratios

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Return on Equity (ROE)	-63.93%	-	-	-	-	-11.32%	112.58%	19%	18.38%	27.03%
Return on Invested Capital (ROIC)	-19.82%	-47.05%	-7.53%	1.78%	3.69%	-0.32%	136.68%	48.17%	31.09%	32.64%
Gross Margin	30.02%	-9.73%	-4.9%	28.91%	35.07%	30.7%	51.99%	41%	99.37%	42.71%
Net Margin	-53.29%	-207.08%	-17.76%	-12.35%	7.9%	-4.19%	16.63%	7.61%	7.52%	11.12%
Debt / Equity	2.49x	-	-	-	-	0.20x	0.10x	0.07x	0.36x	0.22x
Interest Coverage	-5.31x	-9.44x	-1.08x	0.20x	0.41x	-19.90x	54.03x	30.71x	37.62x	52.61x
FCF Conversion	-0.73x	-0.00x	0.01x	-1.86x	4.01x	0.87x	0.50x	0.47x	0.66x	0.32x
Revenue Growth	9.64%	-36.36%	-7.21%	38.79%	27.17%	-97.04%	251.91%	-46.89%	15.48%	29.74%

Frequently Asked Questions

Valuation & Price

Legacy Education Inc. (LGCY) has a price-to-earnings (P/E) ratio of 23.2x. This is roughly in line with market averages.

Growth & Financials

Legacy Education Inc. (LGCY) reported $59.0M in revenue for fiscal year 2023. This represents a 73% decrease from $216.4M in 2010.

Legacy Education Inc. (LGCY) grew revenue by 29.7% over the past year. This is strong growth.

Yes, Legacy Education Inc. (LGCY) is profitable, generating $19.2M in net income for fiscal year 2023 (11.1% net margin).

Dividend & Returns

Legacy Education Inc. (LGCY) has a return on equity (ROE) of 27.0%. This is excellent, indicating efficient use of shareholder capital.

Legacy Education Inc. (LGCY) generated $3.0M in free cash flow for fiscal year 2023. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Legacy Education Inc. (LGCY) 10-Year Financial Performance & Capital Metrics

LGCY • • Industrial / General

Consumer DefensiveEducation & TrainingVocational & Technical EducationTechnical & Trade Schools

Revenue $46M +29.7%
EBITDA $6M +68.5%
Net Income $5M +91.8%
EPS (Diluted) 0.44 +100.0%
Gross Margin 42.71% -57.0%
EBITDA Margin 14.09% +29.9%
Operating Margin 13.51% +32.3%
Net Margin 11.12% +47.8%
ROE 27.03% +47.1%
ROIC 32.64% +5.0%
Debt/Equity 0.22 -40.1%
Interest Coverage 52.61 +39.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.5%
✓Strong Piotroski F-Score: 7/9
✓Share count reduced 57.3% through buybacks
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗Profits declining 34.9% over 5 years
✗Low quality earnings: Net income not backed by cash flow
✗Sales declining 39.2% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-20.99%

5Y-39.23%

3Y-7.33%

TTM-5.73%

Profit (Net Income) CAGR

10Y-

5Y-34.93%

3Y-18.96%

TTM176.86%

EPS CAGR

10Y-

5Y-7.22%

3Y6.92%

TTM882.06%

ROCE

10Y Avg10.94%

5Y Avg34.7%

3Y Avg25.14%

Latest28.61%

Peer Comparison

Technical & Trade Schools

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LINCLincoln Educational Services Corporation	844.67M	26.71	83.47	16.4%	2.86%	7.6%		1.00
UTIUniversal Technical Institute, Inc.	1.51B	27.77	24.58	14.05%	7.54%	19.21%	3.66%	0.79
LGCYLegacy Education Inc.	128.31M	10.21	23.20	29.74%	32.53%	48.84%	0.95%	0.22

Profit & Loss

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Sales/Revenue+	532.3M	338.78M	314.36M	436.3M	554.86M	16.43M	57.81M	30.7M	35.46M	46M
Revenue Growth %	0.1%	-0.36%	-0.07%	0.39%	0.27%	-0.97%	2.52%	-0.47%	0.15%	0.3%
Cost of Goods Sold+	372.49M	371.75M	329.75M	310.16M	360.28M	11.61M	27.75M	18.12M	20.79M	26.35M
COGS % of Revenue	0.7%	1.1%	1.05%	0.71%	0.65%	0.71%	0.48%	0.59%	0.59%	0.57%
Gross Profit+	159.81M	-32.97M	-15.39M	126.14M	194.58M	5.04M	30.06M	12.59M	35.23M	19.65M
Gross Margin %	0.3%	-0.1%	-0.05%	0.29%	0.35%	0.31%	0.52%	0.41%	0.99%	0.43%
Gross Profit Growth %	-0.07%	-1.21%	0.53%	9.2%	0.54%	-0.97%	4.96%	-0.58%	1.8%	-0.44%
Operating Expenses+	70.51M	62.89M	57.91M	69.2M	102.57M	7.43M	20.83M	9.36M	11.05M	13.43M
OpEx % of Revenue	0.13%	0.19%	0.18%	0.16%	0.18%	0.45%	0.36%	0.3%	0.31%	0.29%
Selling, General & Admin	38.98M	46.51M	43.64M	49.37M	73.04M	7.2M	20.25M	9.12M	10.82M	13.17M
SG&A % of Revenue	0.07%	0.14%	0.14%	0.11%	0.13%	0.44%	0.35%	0.3%	0.31%	0.29%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	31.53M	16.38M	14.27M	19.82M	29.53M	225.52K	186.78K	239.64K	224.49K	0
Operating Income+	-356.94M	-725.7M	-85M	18.06M	47.83M	-2.38M	9.23M	3.22M	3.62M	6.22M
Operating Margin %	-0.67%	-2.14%	-0.27%	0.04%	0.09%	-0.14%	0.16%	0.11%	0.1%	0.14%
Operating Income Growth %	-13.91%	-1.03%	0.88%	1.21%	1.65%	-1.05%	4.87%	-0.65%	0.12%	0.72%
EBITDA+	-183.25M	-548.44M	65.42M	145M	207.83M	-2.15M	9.44M	3.46M	3.85M	6.48M
EBITDA Margin %	-0.34%	-1.62%	0.21%	0.33%	0.37%	-0.13%	0.16%	0.11%	0.11%	0.14%
EBITDA Growth %	-1.98%	-1.99%	1.12%	1.22%	0.43%	-1.01%	5.39%	-0.63%	0.11%	0.69%
D&A (Non-Cash Add-back)	173.69M	177.26M	150.41M	126.94M	160M	232.83K	209.76K	239.64K	224.49K	265.04K
EBIT	-217.29M	-626.15M	24.47M	36.71M	-1.53M	-935.63K	12.25M	3.43M	3.96M	7.1M
Net Interest Income+	-66.34M	-76.56M	-78.99M	-89.14M	-152.47K	-75.66K	-45.77K	99.27K	242.84K	768.67K
Interest Income	873K	329K	67K	64K	36K	44K	124.99K	204.26K	339.1K	886.83K
Interest Expense	67.22M	76.89M	79.06M	89.21M	117.01M	119.67K	170.76K	104.99K	96.26K	118.16K
Other Income/Expense	72.43M	22.66M	30.41M	-70.56M	-241.04K	1.33M	2.86M	99.27K	242.84K	768.67K
Pretax Income+	-284.5M	-703.04M	-54.59M	-52.5M	46.8M	-1.06M	12.08M	3.32M	3.86M	6.99M
Pretax Margin %	-0.53%	-2.08%	-0.17%	-0.12%	0.08%	-0.06%	0.21%	0.11%	0.11%	0.15%
Income Tax+	-859K	-1.5M	1.23M	1.4M	2.97M	-367.65K	2.47M	986.35K	1.2M	1.87M
Effective Tax Rate %	1%	1%	1.02%	1.03%	0.94%	0.65%	0.8%	0.7%	0.69%	0.73%
Net Income+	-283.64M	-701.54M	-55.82M	-53.9M	43.83M	-687.64K	9.61M	2.34M	2.67M	5.11M
Net Margin %	-0.53%	-2.07%	-0.18%	-0.12%	0.08%	-0.04%	0.17%	0.08%	0.08%	0.11%
Net Income Growth %	-7.04%	-1.47%	0.92%	0.03%	1.81%	-1.02%	14.98%	-0.76%	0.14%	0.92%
Net Income (Continuing)	-283.64M	-701.54M	-55.82M	-53.9M	-1.22M	-687.64K	9.61M	2.34M	2.67M	5.11M
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)+	-4.72	-10.18	-0.79	-0.74	0.64	-0.05	0.36	0.20	0.22	0.44
EPS Growth %	-6.61%	-1.16%	0.92%	0.06%	1.86%	-1.07%	8.89%	-0.44%	0.1%	1%
EPS (Basic)	-4.72	-10.18	-0.79	-0.74	0.64	-0.05	0.38	0.20	0.22	0.44
Diluted Shares Outstanding	60.05M	68.93M	70.61M	72.41M	68.89M	15.07M	26.81M	27.78M	27.78M	11.87M
Basic Shares Outstanding	60.05M	68.93M	70.61M	72.41M	68.89M	15.07M	25.45M	11.87M	26.42M	11.87M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	0.34%	-

Balance Sheet

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Total Current Assets+	192.25M	129.46M	82.77M	112.6M	151.09M	6.04M	13.61M	15.74M	17.35M	24.59M
Cash & Short-Term Investments	725K	2.01M	2.56M	1.25M	1.1M	1.42M	7.85M	8.77M	9.29M	10.38M
Cash Only	725K	2.01M	2.56M	1.25M	1.1M	1.42M	7.85M	8.77M	9.29M	10.38M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	65.86M	59.41M	66.61M	90.18M	3.01M	4.25M	4.75M	6.21M	7.3M	13.08M
Days Sales Outstanding	45.16	64.01	77.34	75.44	1.98	94.5	30	73.85	75.17	103.82
Inventory	0	0	0	0	0	126.88K	369.5K	442.86K	470.74K	0
Days Inventory Outstanding	-	-	-	-	-	3.99	4.86	8.92	8.27	-
Other Current Assets	125.67M	68.05M	13.61M	21.18M	0	-106.85K	0	0	0	0
Total Non-Current Assets+	1.71B	1.5B	1.22B	1.38B	1.32B	4.72M	4.34M	4.86M	9.9M	10.59M
Property, Plant & Equipment	1.64B	1.41B	1.19B	1.36B	1.32B	583.65K	599.63K	704.47K	5.11M	4.91M
Fixed Asset Turnover	0.32x	0.24x	0.27x	0.32x	0.42x	28.15x	96.41x	43.58x	6.93x	9.38x
Goodwill	0	0	0	0	0	1.93M	1.93M	1.93M	1.93M	1.93M
Intangible Assets	2.51M	2.06M	1.65M	1.25M	894K	1.07M	1.07M	1.07M	1.06M	1.05M
Long-Term Investments	3.05M	646K	647K	0	0	750.55K	320.18K	974.25K	1.53M	1.38M
Other Non-Current Assets	57.05M	80.2M	29.43M	22.91M	6.18M	848.94K	418.56K	1.07M	98.38K	416.61K
Total Assets+	1.9B	1.63B	1.3B	1.49B	1.47B	10.76M	17.95M	20.61M	27.25M	35.17M
Asset Turnover	0.28x	0.21x	0.24x	0.29x	0.38x	1.53x	3.22x	1.49x	1.30x	1.31x
Asset Growth %	0.14%	-0.14%	-0.2%	0.15%	-0.01%	-0.99%	0.67%	0.15%	0.32%	0.29%
Total Current Liabilities+	97.58M	81.09M	86.61M	144.81M	984.65M	3.85M	6.23M	6.38M	8.49M	10.47M
Accounts Payable	2.79M	13.58M	9.09M	13.09M	368.57K	350.99K	642.61K	668.27K	722.71K	1.53M
Days Payables Outstanding	2.73	13.33	10.06	15.41	0.37	11.04	8.45	13.46	12.69	21.23
Short-Term Debt	21.18M	19.01M	17.7M	18.18M	217.28K	832.73K	821.91K	825.8K	728.26K	624.24K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	779.06K	1000K	1000K	1000K	1000K
Other Current Liabilities	64.23M	39.78M	54.52M	107.73M	982.45M	1.32M	598.71K	383.11K	614.69K	1.67M
Current Ratio	1.97x	1.60x	0.96x	0.78x	0.15x	1.57x	2.18x	2.47x	2.04x	2.35x
Quick Ratio	1.97x	1.60x	0.96x	0.78x	0.15x	1.54x	2.13x	2.40x	1.99x	2.35x
Cash Conversion Cycle	-	-	-	-	-	87.46	26.41	69.31	70.74	-
Total Non-Current Liabilities+	1.16B	1.72B	1.44B	1.62B	682.91M	834.7K	721.48K	627.03K	3.33M	2.29M
Long-Term Debt	938.88M	1.44B	1.16B	1.35B	45.44K	308.15K	222.93K	127.44K	45.33K	123.86K
Capital Lease Obligations	0	0	0	0	72.68K	34.8K	22.65K	0	3.25M	2.16M
Deferred Tax Liabilities	0	0	0	0	0	-2.06M	0	0	0	0
Other Non-Current Liabilities	224.95M	284.09M	273.9M	273.19M	0	0	0	37.64K	33.77K	905
Total Liabilities	1.26B	1.81B	1.52B	1.76B	1.67B	4.68M	6.95M	7.01M	11.82M	12.75M
Total Debt+	938.88M	1.44B	1.18B	1.36B	1.33B	1.21M	1.1M	953.24K	5.56M	4.84M
Net Debt	938.15M	1.44B	1.18B	1.36B	1.33B	-206K	-6.74M	-7.81M	-3.74M	-5.54M
Debt / Equity	2.49x	-	-	-	-	0.20x	0.10x	0.07x	0.36x	0.22x
Debt / EBITDA	-	-	18.02x	9.41x	6.40x	-	0.12x	0.28x	1.44x	0.75x
Net Debt / EBITDA	-	-	17.99x	9.41x	6.40x	-	-0.71x	-2.26x	-0.97x	-0.85x
Interest Coverage	-5.31x	-9.44x	-1.08x	0.20x	0.41x	-19.90x	54.03x	30.71x	37.62x	52.61x
Total Equity+	376.94M	-439.94M	-482.35M	-531.95M	-217.38M	6.08M	11M	13.6M	15.42M	22.42M
Equity Growth %	-0.26%	-2.17%	-0.1%	-0.1%	0.59%	1.03%	0.81%	0.24%	0.13%	0.45%
Book Value per Share	6.28	-6.38	-6.83	-7.35	-3.16	0.40	0.41	0.49	0.56	1.89
Total Shareholders' Equity	376.94M	-439.94M	-482.35M	-531.95M	-217.38M	6.08M	11M	13.6M	15.42M	22.42M
Common Stock	0	0	0	0	1.09M	611K	0	18.41K	18.58K	9.29K
Retained Earnings	376.94M	-439.94M	-482.35M	-531.95M	-218.48M	3.05M	0	-666.92K	1.11M	6.22M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Cash from Operations+	207.22M	2.05M	-310K	100.21M	175.94M	-596.95K	4.84M	1.09M	1.77M	1.65M
Operating CF Margin %	0.39%	0.01%	-0%	0.23%	0.32%	-0.04%	0.08%	0.04%	0.05%	0.04%
Operating CF Growth %	-0.14%	-0.99%	-1.15%	324.25%	0.76%	-1%	9.1%	-0.77%	0.63%	-0.07%
Net Income	-283.64M	-701.54M	-55.82M	-53.9M	43.83M	-687.64K	3.25M	2.34M	2.67M	5.11M
Depreciation & Amortization	0	0	0	0	0	232.83K	209.76K	239.64K	224.49K	265.04K
Stock-Based Compensation	0	0	0	0	0	2.26M	12.93K	0	0	1.88M
Deferred Taxes	0	0	0	0	0	114.14K	-45.06K	232.97K	-75.79K	-730K
Other Non-Cash Items	484.83M	712.72M	62.31M	153.76M	109.63M	-150K	150.6K	-42.61K	-152.89K	348.79K
Working Capital Changes	3.95M	-15.58M	-13.84M	-5.66M	15.86M	-1.05M	1.26M	-1.68M	-893.11K	-5.23M
Change in Receivables	-1.28M	6.46M	-7.2M	-23.57M	18.19M	-1.03M	-675.04K	-2.56M	-1.99M	348.79K
Change in Inventory	9.64M	-33.16M	-1.21M	13.49M	-2.63M	828.63M	0	0	0	0
Change in Payables	-3.23M	10.79M	-4.49M	4M	-1.86M	624.08K	1.05M	204.12K	163.41K	1.28M
Cash from Investing+	-632.41M	-377.42M	119.99M	-279.24M	-188.13M	-271.01K	-199.59K	-294.87K	-195.08K	-423.71K
Capital Expenditures	-640.41M	-579.46M	-41.93M	-314.49M	-228.26M	-86.48K	-199.59K	-294.87K	-195.08K	-423.71K
CapEx % of Revenue	1.2%	1.71%	0.13%	0.72%	0.41%	0.01%	0%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	8M	202.04M	161.92M	35.26M	40.13M	-115K	0	0	0	0
Cash from Financing+	423.34M	376.65M	-119.13M	177.72M	12.11M	2.06M	1.79M	129.03K	-1.05M	-238.55K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	-916.72K	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	423.34M	376.65M	-119.13M	177.72M	558.2K	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-433.2M	-577.42M	-42.24M	-214.28M	-52.32M	-683.43K	4.64M	793.73K	1.57M	1.23M
FCF Margin %	-0.81%	-1.7%	-0.13%	-0.49%	-0.09%	-0.04%	0.08%	0.03%	0.04%	0.03%
FCF Growth %	-12.96%	-0.33%	0.93%	-4.07%	0.76%	0.99%	7.79%	-0.83%	0.98%	-0.22%
FCF per Share	-7.21	-8.38	-0.60	-2.96	-0.76	-0.05	0.17	0.03	0.06	0.10
FCF Conversion (FCF/Net Income)	-0.73x	-0.00x	0.01x	-1.86x	4.01x	0.87x	0.50x	0.47x	0.66x	0.32x
Interest Paid	0	0	0	0	93.47K	75.06K	110.96K	104.99K	96.26K	118.16K
Taxes Paid	0	0	0	0	117.99K	330.64K	165.59K	1.94M	1.03M	1.3M

Key Ratios

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Return on Equity (ROE)	-63.93%	-	-	-	-	-11.32%	112.58%	19%	18.38%	27.03%
Return on Invested Capital (ROIC)	-19.82%	-47.05%	-7.53%	1.78%	3.69%	-0.32%	136.68%	48.17%	31.09%	32.64%
Gross Margin	30.02%	-9.73%	-4.9%	28.91%	35.07%	30.7%	51.99%	41%	99.37%	42.71%
Net Margin	-53.29%	-207.08%	-17.76%	-12.35%	7.9%	-4.19%	16.63%	7.61%	7.52%	11.12%
Debt / Equity	2.49x	-	-	-	-	0.20x	0.10x	0.07x	0.36x	0.22x
Interest Coverage	-5.31x	-9.44x	-1.08x	0.20x	0.41x	-19.90x	54.03x	30.71x	37.62x	52.61x
FCF Conversion	-0.73x	-0.00x	0.01x	-1.86x	4.01x	0.87x	0.50x	0.47x	0.66x	0.32x
Revenue Growth	9.64%	-36.36%	-7.21%	38.79%	27.17%	-97.04%	251.91%	-46.89%	15.48%	29.74%

Frequently Asked Questions

Valuation & Price

Legacy Education Inc. (LGCY) has a price-to-earnings (P/E) ratio of 23.2x. This is roughly in line with market averages.

Growth & Financials

Legacy Education Inc. (LGCY) reported $59.0M in revenue for fiscal year 2023. This represents a 73% decrease from $216.4M in 2010.

Legacy Education Inc. (LGCY) grew revenue by 29.7% over the past year. This is strong growth.

Yes, Legacy Education Inc. (LGCY) is profitable, generating $19.2M in net income for fiscal year 2023 (11.1% net margin).

Dividend & Returns

Legacy Education Inc. (LGCY) has a return on equity (ROE) of 27.0%. This is excellent, indicating efficient use of shareholder capital.

Legacy Education Inc. (LGCY) generated $3.0M in free cash flow for fiscal year 2023. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.