American Public Education Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	176.5	158.94	144.34	129.46	149.63
Cash & Short-Term Investments	176.5	158.94	144.34	129.46	149.63
Cash Growth	11.05%	10.11%	11.50%	-13.48%	-34.28%
Accounts Receivable	65.66	62.47	50.97	42.35	36.03
Other Receivables	3.46	0.95	0.47	2.87	5.3
Total Trade Receivables	69.12	63.41	51.45	45.22	41.33
Other Current Assets	14.2	38.22	21.59	11.41	11.68
Total Current Assets	259.82	260.57	217.38	186.09	202.64
Net Property, Plant & Equipment	128.28	168.16	187.53	209.76	180.36
Other Intangible Assets	28.22	28.22	31.54	54.73	85.08
Goodwill	59.59	59.59	59.59	112.59	243.49
Other Long-Term Assets	45.5	53.56	61.35	51.88	14.04
Total Assets	521.42	570.1	557.39	615.06	725.61
Accounts Payable	4.82	7.85	8.66	3.81	13.5
Accrued Expenses	35.84	34.28	28.19	28.79	25.95
Current Portion of Long-Term Debt	-	-	-	-	8.75
Current Portion of Leases	11.37	13.55	13.31	14.4	13.71
Unearned Revenue	23.02	23.47	23.83	23.76	21.78
Total Current Liabilities	75.05	79.16	73.99	70.76	83.68
Long-Term Debt	94.67	93.42	94.68	93.15	151.77
Long-Term Leases	56.92	93.65	96.74	101.42	69.49
Other Long-Term Liabilities	-	-	-	-	5.06
Total Long-Term Liabilities	151.59	187.07	191.42	194.57	226.32
Total Liabilities	226.64	266.22	265.41	265.33	310
Preferred Stock	-	39.69	39.69	39.69	-
Common Stock	0.18	0.18	0.18	0.19	0.19
Additional Paid-in Capital	311.12	305.82	299.56	292.85	286.39
Accumulated Other Comprehensive Income	-0.02	-0.01	1.64	3.1	0.11
Retained Earnings	-16.5	-41.81	-49.1	13.89	128.93
Shareholders' Equity	294.78	303.88	291.98	349.73	415.61
Total Liabilities & Equity	521.42	570.1	557.39	615.06	725.61
Total Debt	162.96	200.62	204.73	208.97	243.71
Net Cash (Debt)	13.54	-41.68	-60.39	-79.51	-94.09
Net Cash Per Share	0.73	-2.30	-3.32	-4.20	-5.15
Book Value	294.78	303.88	291.98	349.73	415.61
Book Value Per Share	15.80	16.74	16.05	18.49	22.77
Tangible Book Value	206.97	216.07	200.84	182.4	87.04
Tangible Book Value Per Share	11.09	11.91	11.04	9.64	4.77

Updated Mar 12, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q