AMERICAN PUBLIC EDUCATION, INC. financials

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APEI CIK 0001201792

Source: EDGAR filings · Built 2026-06-02T02:21:05Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 46.10M 27.79M 31.62M 12.83M 4.44M 39.88M
EBITDA 64.08M 52.37M -20.49M -105.22M 48.20M 37.74M
Working Capital 184.77M 181.42M 143.39M 115.33M 118.96M 196.75M
Net Debt -11.13M 68.70M 88.07M 106.45M 94.09M -218.84M
Gross Margin 54.22% 52.65% 51.23% 52.42% 58.78% 62.04%
Operating Margin 7.39% 5.29% -8.04% -22.65% 7.25% 7.69%
Net Margin 4.86% 2.58% -7.87% -18.97% 4.24% 5.85%
Return on Equity (ROE) 10.71% 5.30% -16.20% -32.88% 4.27% 6.13%
Return on Assets (ROA) 6.05% 2.83% -8.48% -18.70% 2.45% 5.07%
Current Ratio 3.46× 3.29× 2.94× 2.63× 2.42× 4.57×
Debt-to-Equity 0.55× 0.66× 0.70× 0.60× 0.59× 0.03×
Effective Tax Rate 27.80% 33.68% 20.31% 23.98% 28.78% 27.16%
Cash Conversion Ratio 1.96× 3.03× -0.96× -0.25× 0.92× 2.38×
Accruals Ratio -0.06× -0.06× -0.17× -0.23× 0.00× -0.07×
SBC % of Revenue 1.29% 1.23% 1.29% 1.32% 1.83% 2.20%
CapEx Coverage 3.91× 2.32× 3.28× 1.78× 1.38× 9.10×
Free Cash Flow Per Share $2.47 $0.00 $0.00 $0.68 $0.00 $0.00

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 27.79× 39.22× — — 22.94× 24.38×
P/FCF 15.30× — 5676.47× 18.12× — —
FCF Yield 6.54% 0.01% 0.02% 5.52% 0.00% 0.01%
EV / EBITDA 10.52× 8.61× — — 10.59× 6.16×
P/S 1.06× 0.61× 0.28× 0.38× 0.99× 1.40×
P/B 2.32× 1.45× 0.67× 0.75× 1.00× 1.47×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 648.86M 624.56M 600.54M 606.33M 418.80M 321.79M
Cost of Goods and Services Sold 297.02M 295.70M 292.86M 288.47M 172.62M 122.16M
Operating Income (Loss) 47.94M 33.07M -48.31M -137.35M 30.37M 24.76M
Income Tax Expense (Benefit) 12.15M 10.42M -10.71M -36.28M 7.51M 7.02M
Net Income (Loss) Attributable to Parent 31.56M 16.11M -47.29M -114.99M 17.75M 18.82M
Earnings Per Share, Basic $1.40 $0.57 $-2.94 $-6.10 $0.98 $1.27
Weighted Average Number of Shares Outstanding, Basic 18.01M 17.63B 18.11M 18.86M 18.09M 14.88B
Earnings Per Share, Diluted $1.36 $0.55 $-2.93 $-6.08 $0.97 $1.25
Weighted Average Number of Shares Outstanding, Diluted 18.66M 18.15B 18.19B 18.91M 18.25B 15.05B

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 174.09M 131.93M 116.66M 102.52M — —
Assets, Current 259.82M 260.57M 217.38M 186.09M 202.64M 251.81M
Assets 521.42M 570.10M 557.39M 615.06M 725.61M 371.02M
Long-term Debt 94.67M 93.42M 94.68M 93.15M 160.52M —
Liabilities, Current 75.05M 79.16M 73.99M 70.76M 83.68M 55.06M
Long-term Debt, Excluding Current Maturities 94.67M 93.42M 94.68M 93.15M 151.77M 0
Liabilities 226.64M 266.22M 265.41M 265.33M 310.00M 64.09M
Stockholders' Equity Attributable to Parent 294.78M 303.88M 291.98M 349.73M 415.61M 306.93M
Common Stock, Shares, Outstanding 18.13M 17.71M 17.60M 18.89M 18.71M 14.81M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 61.97M 48.87M 45.51M 29.21M 16.27M 44.81M
Payments to Acquire Property, Plant, and Equipment 15.86M 21.08M 13.89M 16.39M 11.83M 4.93M
Net Cash Provided by (Used in) Investing Activities 4.80M -21.08M -13.77M -13.67M -336.67M -4.16M
Payments for Repurchase of Common Stock 4.26M 4.24M 10.74M 1.54M 3.03M 15.71M
Net Cash Provided by (Used in) Financing Activities -49.21M -13.19M -16.86M -35.71M 242.34M -15.71M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (APEI CIK 0001201792), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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