The company maintains a disciplined financial profile with a debt-to-equity ratio of 0.31 as of 2026Q3, providing a buffer against sector-specific regulatory risks.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'02 |
|---|
| Total Current Assets | 43.97M | 37.05M | 24.59M | 17.35M | 15.74M | 13.61M | 6.04M | 151.09M | 112.6M | 82.77M | 129.46M | 192.25M | 74.7M | 87.91M | 59.78M | 50.6M | 49.61M | 80.94M | 33.56M | 18.22M | 8.27M | 6.57M | 76K |
| Cash & Short-Term Investments | 21.68M | 20.32M | 10.38M | 9.29M | 8.77M | 7.85M | 1.42M | 1.1M | 1.25M | 2.56M | 2.01M | 725K | 2.58M | 18.67M | 3.15M | 3.48M | 4.22M | 2.5M | 9.6M | 1.06M | 1.95M | 768.76K | 76K |
| Cash Only | 21.68M | 20.32M | 10.38M | 9.29M | 8.77M | 7.85M | 1.42M | 1.1M | 1.25M | 2.56M | 2.01M | 725K | 2.58M | 3.51M | 3.15M | 3.48M | 4.22M | 2.5M | 9.6M | 1.06M | 1.95M | 768.76K | 76K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 19.81M | 15.26M | 13.08M | 7.3M | 6.21M | 4.75M | 4.25M | 3.01M | 90.18M | 66.61M | 59.41M | 65.86M | 64.59M | 65.95M | 45.99M | 37.52M | 22.98M | 19.52M | 23.3M | 11.97M | 6.27M | 5.75M | 0 |
| Days Sales Outstanding | 84.1 | 86.8 | 103.82 | 75.17 | 73.85 | 30 | 94.5 | 1.98 | 75.44 | 77.34 | 64.01 | 45.16 | 48.56 | 69.48 | 49.83 | 63.29 | 61.1 | 33.08 | 75.79 | 63.22 | 118.05 | 146.69 | - |
| Inventory | 0 | 1.19M | 0 | 470.74K | 442.86K | 369.5K | 126.88K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 2.62 | 12.55 | - | 8.27 | 8.92 | 4.86 | 3.99 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 2.47M | 0 | 0 | 0 | 0 | 0 | -106.85K | 0 | 21.18M | 13.61M | 68.05M | 125.67M | 7.53M | 3.29M | 10.64M | 9.6M | 22.41M | 58.91M | 650K | 5.19M | 46.67K | 48.25K | 0 |
| Total Non-Current Assets | 31.49M | 32.15M | 10.59M | 9.9M | 4.86M | 4.34M | 4.72M | 1.32B | 1.38B | 1.22B | 1.5B | 1.71B | 1.59B | 1.6B | 983.7M | 858.83M | 603.88M | 702.13M | 448.02M | 255.15M | 78.67M | 12.22M | 7.56M |
| Property, Plant & Equipment | 17.78M | 18.58M | 4.91M | 5.11M | 704.47K | 599.63K | 583.65K | 1.32B | 1.36B | 1.19B | 1.41B | 1.64B | 1.54B | 1.57B | 962.64M | 846.75M | 576.94M | 614.88M | 440.95M | 247.88M | 77.18M | 12.22M | 7.56M |
| Fixed Asset Turnover | 4.31x | 3.45x | 9.38x | 6.93x | 43.58x | 96.41x | 28.15x | 0.42x | 0.32x | 0.27x | 0.24x | 0.32x | 0.32x | 0.22x | 0.35x | 0.26x | 0.24x | 0.35x | 0.25x | 0.28x | 0.25x | 1.17x | 0.94x |
| Goodwill | 6.85M | 6.85M | 1.93M | 1.93M | 1.93M | 1.93M | 1.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.84M | 3.86M | 1.05M | 1.06M | 1.07M | 1.07M | 1.07M | 894K | 1.25M | 1.65M | 2.06M | 2.51M | 2.99M | 3.49M | 3.98M | 4.49M | 5.04M | 5.59M | 6.15M | 6.72M | 0 | 0 | 0 |
| Long-Term Investments | 1.96M | 0 | 1.38M | 1.53M | 974.25K | 320.18K | 750.55K | 0 | 0 | 647K | 646K | 3.05M | 4.09M | 393K | 282K | 144K | 47K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.63M | 2.47M | 416.61K | 98.38K | 1.07M | 418.56K | 848.94K | 6.18M | 22.91M | 29.43M | 80.2M | 57.05M | 38.93M | 23.64M | 16.8M | 7.44M | 21.86M | 81.66M | 914K | 541.74K | 1.49M | 0 | -7.56M |
| Total Assets | 75.46M | 69.21M | 35.17M | 27.25M | 20.61M | 17.95M | 10.76M | 1.47B | 1.49B | 1.3B | 1.63B | 1.9B | 1.66B | 1.69B | 1.04B | 909.43M | 653.49M | 783.07M | 481.58M | 273.37M | 86.94M | 18.79M | 3.92M |
| Asset Turnover | 1.08x | 0.93x | 1.31x | 1.30x | 1.49x | 3.22x | 1.53x | 0.38x | 0.29x | 0.24x | 0.21x | 0.28x | 0.29x | 0.21x | 0.32x | 0.24x | 0.21x | 0.28x | 0.23x | 0.25x | 0.22x | 0.76x | 1.81x |
| Asset Growth % | 0% | 96.76% | 29.1% | 32.21% | 14.81% | 66.85% | -99.27% | -1.22% | 14.87% | -20.06% | -14.36% | 14.39% | -1.79% | 61.96% | 14.74% | 39.16% | -16.55% | 62.61% | 76.16% | 214.43% | 362.65% | 378.78% | - |
| Total Current Liabilities | 13.09M | 13.78M | 10.47M | 8.49M | 6.38M | 6.23M | 3.85M | 984.65M | 144.81M | 86.61M | 81.09M | 97.58M | 93.89M | 103.72M | 97.45M | 72.95M | 54.23M | 57.01M | 43.46M | 10.83M | 4.56M | 4.9M | 3.92M |
| Accounts Payable | 0 | 1.39M | 1.53M | 722.71K | 668.27K | 642.61K | 350.99K | 368.57K | 13.09M | 9.09M | 13.58M | 2.79M | 6.02M | 1.82M | 3.29M | 631K | 1.58M | 5.95M | 2.32M | 2.93M | 451.65K | 56.22K | 0 |
| Days Payables Outstanding | 6.83 | 14.64 | 21.23 | 12.69 | 13.46 | 8.45 | 11.04 | 0.37 | 15.41 | 10.06 | 13.33 | 2.73 | 7.01 | 3.09 | 12.38 | 2.81 | 10.12 | 33.56 | 24.18 | 54.36 | 20.58 | 3.89 | - |
| Short-Term Debt | 2.55M | 925.35K | 624.24K | 728.26K | 825.8K | 821.91K | 832.73K | 217.28K | 18.18M | 17.7M | 19.01M | 21.18M | 11.91M | 8.51M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2M | 0 |
| Deferred Revenue (Current) | 10.31M | 4.96M | 2.59M | 3.47M | 3.1M | 1.8M | 779.06K | 5.25M | 5.81M | 5.3M | 8.72M | 9.38M | 9.46M | 4.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 10.54M | 2.32M | 1.67M | 614.69K | 383.11K | 598.71K | 1.32M | 982.45M | 107.73M | 54.52M | 39.78M | 64.23M | 66.5M | 88.59M | 94.16M | 72.32M | 52.65M | 51.06M | 41.14M | 7.9M | 4.11M | 2.84M | 3.92M |
| Current Ratio | 3.36x | 2.69x | 2.35x | 2.04x | 2.47x | 2.18x | 1.57x | 0.15x | 0.78x | 0.96x | 1.60x | 1.97x | 0.80x | 0.85x | 0.61x | 0.69x | 0.91x | 1.42x | 0.77x | 1.68x | 1.81x | 1.34x | 0.02x |
| Quick Ratio | 3.36x | 2.60x | 2.35x | 1.99x | 2.40x | 2.13x | 1.54x | 0.15x | 0.78x | 0.96x | 1.60x | 1.97x | 0.80x | 0.85x | 0.61x | 0.69x | 0.91x | 1.42x | 0.77x | 1.68x | 1.81x | 1.34x | 0.02x |
| Cash Conversion Cycle | 79.9 | 84.7 | - | 70.74 | 69.31 | 26.41 | 87.46 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 12.85M | 14.38M | 2.29M | 3.33M | 627.03K | 721.48K | 834.7K | 682.91M | 1.62B | 1.44B | 1.72B | 1.16B | 1.06B | 916M | 457.7M | 444.73M | 320.61M | 345.43M | 182.39M | 123.75M | 72.47M | 1.87M | 0 |
| Long-Term Debt | 12.74M | 481.26K | 123.86K | 45.33K | 127.44K | 222.93K | 308.15K | 45.44K | 1.35B | 1.16B | 1.44B | 938.88M | 878.69M | 775.84M | 337M | 325M | 237M | 282M | 110M | 115.8M | 67.19M | 0 | 0 |
| Capital Lease Obligations | 27.29M | 13.9M | 2.16M | 3.25M | 0 | 22.65K | 34.8K | 72.68K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | -2.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 114.44K | 0 | 905 | 33.77K | 37.64K | 0 | 0 | 0 | 273.19M | 273.9M | 284.09M | 224.95M | 176.85M | 140.16M | 120.7M | 119.73M | 83.61M | 63.43M | 72.39M | 7.95M | 5.28M | 1.87M | 0 |
| Total Liabilities | 25.94M | 28.16M | 12.75M | 11.82M | 7.01M | 6.95M | 4.68M | 1.67B | 1.76B | 1.52B | 1.81B | 1.26B | 1.15B | 1.02B | 555.15M | 517.69M | 374.83M | 402.44M | 225.85M | 134.58M | 77.03M | 6.77M | 3.92M |
| Total Debt | 15.29M | 17.68M | 4.84M | 5.56M | 953.24K | 1.1M | 1.21M | 1.33B | 1.36B | 1.18B | 1.44B | 938.88M | 878.69M | 775.84M | 337M | 325M | 237M | 282M | 110M | 115.8M | 67.19M | 2M | 0 |
| Net Debt | -6.39M | -2.64M | -5.54M | -3.74M | -7.81M | -6.74M | -206K | 1.33B | 1.36B | 1.18B | 1.44B | 938.15M | 876.11M | 772.33M | 333.85M | 321.52M | 232.78M | 279.5M | 100.4M | 114.74M | 65.23M | 1.23M | -76K |
| Debt / Equity | 0.31x | 0.43x | 0.22x | 0.36x | 0.07x | 0.10x | 0.20x | - | - | - | - | 2.49x | 1.72x | 1.16x | 0.69x | 0.83x | 0.85x | 0.74x | 0.43x | 0.83x | 6.78x | 0.17x | - |
| Debt / EBITDA | 1.30x | 1.70x | 0.75x | 1.44x | 0.28x | 0.12x | - | 6.40x | 9.41x | 18.02x | - | - | 4.72x | 5.05x | 1.95x | 3.21x | 4.29x | 4.44x | 1.68x | 3.80x | 6.66x | 0.26x | - |
| Net Debt / EBITDA | -0.54x | -0.25x | -0.85x | -0.97x | -2.26x | -0.71x | - | 6.40x | 9.41x | 17.99x | - | - | 4.71x | 5.03x | 1.93x | 3.18x | 4.21x | 4.40x | 1.53x | 3.77x | 6.46x | 0.16x | -0.02x |
| Interest Coverage | 136.29x | 98.78x | 60.12x | 41.15x | 32.66x | 71.76x | -7.82x | -0.01x | 0.41x | 0.31x | -8.14x | -3.23x | 0.31x | 4.44x | 4.94x | 1.44x | -5.98x | 8.31x | -6.77x | 0.20x | 5.57x | 40.57x | 58.58x |
| Total Equity | 49.52M | 41.04M | 22.42M | 15.42M | 13.6M | 11M | 6.08M | -217.38M | -531.95M | -482.35M | -439.94M | 376.94M | 510.4M | 670.28M | 488.33M | 391.74M | 278.66M | 380.63M | 255.73M | 138.79M | 9.91M | 12.02M | 0 |
| Equity Growth % | 0% | 83.07% | 45.37% | 13.39% | 23.66% | 81% | 102.8% | 59.14% | -10.28% | -9.64% | -216.72% | -26.15% | -23.85% | 37.26% | 24.66% | 40.58% | -26.79% | 48.84% | 84.26% | 1300.65% | -17.58% | - | - |
| Book Value per Share | 3.52 | 3.24 | 1.89 | 0.56 | 0.49 | 0.41 | 0.40 | -3.16 | -7.35 | -6.83 | -6.38 | 6.28 | 8.92 | 13.68 | 11.07 | 9.74 | 8.66 | 12.43 | 9.78 | 8.70 | 1.05 | 1.27 | - |
| Total Shareholders' Equity | 49.52M | 41.04M | 22.42M | 15.42M | 13.6M | 11M | 6.08M | -217.38M | -531.95M | -482.35M | -439.94M | 376.94M | 510.4M | 670.28M | 488.33M | 391.74M | 278.66M | 380.63M | 255.73M | 138.79M | 9.91M | 12.02M | 0 |
| Common Stock | 12.64K | 12.45K | 9.29K | 18.58K | 18.41K | 0 | 611K | 1.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 21.02M | 13.76M | 6.22M | 1.11M | -666.92K | 0 | 3.05M | -218.48M | -531.95M | -482.35M | -439.94M | 376.94M | 510.4M | 670.28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 380.63M | 255.73M | 138.79M | 9.91M | 12.02M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
California Regulatory Concentration Risk
As reported in recent financial statements, LGCY has successfully scaled its total assets from $31.7 million in 2023Q2 to $75.5 million by 2026Q3, a trajectory that suggests aggressive capital deployment into specialized medical training infrastructure while maintaining a relatively controlled expansion of its total liabilities.
The consistent growth in total assets relative to liabilities indicates that the company is effectively reinvesting earnings into its campus footprint. Investors should monitor whether this asset-heavy growth strategy continues to yield commensurate returns on invested capital as the firm reaches a larger scale.
Based on the provided balance sheet data, LGCY maintains a disciplined financial profile with a debt-to-equity ratio of 0.31 as of 2026Q3, reflecting a strategic preference for low leverage that provides a necessary buffer against the inherent volatility of the for-profit education sector's regulatory environment.
The company's reliance on minimal debt suggests that management is prioritizing balance sheet stability over aggressive financial engineering. This conservative stance appears prudent given the potential for sudden shifts in federal Title IV funding eligibility or state-level regulatory oversight in the California market.
According to quarterly filings, net property, plant, and equipment (PPE) has grown from $5.6 million in 2023Q2 to $17.8 million in 2026Q3, highlighting the capital-intensive nature of LGCY's business model which requires significant investment in specialized medical diagnostic equipment to maintain its competitive clinical placement moat.
The rising PPE balance confirms that the company's competitive advantage is tied to physical infrastructure that is difficult for new entrants to replicate. However, this also implies that future profitability will be increasingly sensitive to the maintenance and depreciation costs associated with this specialized medical hardware.
As indicated by the reported figures, LGCY maintains a current ratio of 3.36 as of 2026Q3, providing a substantial liquidity cushion that appears more than adequate to cover short-term operational obligations and potential fluctuations in student enrollment cycles within the highly competitive California vocational education landscape.
The company's ability to maintain a current ratio consistently above 2.0 suggests a strong defensive posture against short-term cash flow shocks. This liquidity position is essential for navigating the timing mismatches between tuition collection and the high fixed costs of faculty and facility maintenance.
Based on the balance sheet, the accumulation of $6.8 million in goodwill as of 2026Q3 warrants further investigation, as it represents a non-trivial portion of equity that could be subject to impairment if the company's specialized programs fail to meet evolving regulatory or market demand standards.
While the current goodwill balance is not yet alarming, it introduces a layer of valuation risk that investors should monitor closely. Any deterioration in the performance of acquired assets or programs could necessitate a write-down, which would negatively impact the company's book value and overall financial health.
Quick answers to the most common questions about buying LGCY stock.
As of 2025, Legacy Education Inc. (LGCY) had total assets of $69.2M including $37.1M in current assets.
Legacy Education Inc. (LGCY) carries total debt of $17.7M, offset by $20.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Legacy Education Inc. (LGCY) has total shareholders' equity (book value) of $41.0M ($3.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Legacy Education Inc. (LGCY) reported a current ratio of 2.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.