American Public Education, Inc. (APEI)

American Public Education Balance Sheet

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

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	145.35	174.1	131.93	116.66	102.52	122.63
Cash & Short-Term Investments	221.6	174.1	131.93	116.66	102.52	122.63
Cash Growth	26.67%	31.96%	13.09%	13.79%	-16.40%	-45.86%
Accounts Receivable	35.51	65.66	62.47	50.97	42.35	36.03
Other Receivables	4.14	3.46	0.95	0.47	2.87	5.3
Receivables	39.65	69.12	63.41	51.45	45.22	41.33
Prepaid Expenses	20.07	14.2	13.75	13.03	11.41	11.68
Restricted Cash	1.2	2.4	27.02	27.68	26.94	27
Other Current Assets	-	-	24.47	8.56	-	-
Total Current Assets	282.52	259.82	260.57	217.38	186.09	202.64
Property, Plant & Equipment	124.92	128.28	168.16	187.53	209.76	180.36
Goodwill	59.59	59.59	59.59	59.59	112.59	243.49
Other Intangible Assets	28.22	28.22	28.22	31.54	54.73	85.08
Long-Term Deferred Tax Assets	36.61	39.18	47.31	51.36	35.36	-
Other Long-Term Assets	5.88	6.33	6.25	9.99	16.52	14.04
Total Assets	537.75	521.42	570.1	557.39	615.06	725.61

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	5.15	4.82	7.85	8.66	3.81	13.5
Accrued Expenses	41.15	35.84	34.28	28.19	28.79	25.95
Current Portion of Long-Term Debt	5.63	-	-	-	-	8.75
Current Portion of Leases	11.11	11.37	13.55	13.31	14.4	13.71
Current Unearned Revenue	23.93	23.02	23.47	23.83	23.76	21.78
Total Current Liabilities	86.96	75.05	79.16	73.99	70.76	83.68
Long-Term Debt	81.64	94.67	93.42	94.68	93.15	151.77
Long-Term Leases	55.1	56.92	93.65	96.74	101.42	69.49
Long-Term Deferred Tax Liabilities	-	-	-	-	-	5.06
Total Liabilities	223.69	226.64	266.22	265.41	265.33	310

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	0.18	0.18	0.18	0.18	0.19	0.19
Additional Paid-In Capital	307.88	311.12	305.82	299.56	292.85	286.39
Retained Earnings	6	-16.5	-41.81	-49.1	13.89	128.93
Comprehensive Income & Other	-0.01	-0.02	-0.01	1.64	3.1	0.11
Total Common Equity	314.06	294.78	264.19	252.29	310.04	415.61
Shareholders' Equity	314.06	294.78	303.88	291.98	349.73	415.61
Total Liabilities & Equity	537.75	521.42	570.1	557.39	615.06	725.61

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	153.47	162.96	200.62	204.73	208.97	243.71
Net Cash (Debt)	68.14	11.14	-68.7	-88.07	-106.45	-121.09
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	3.62	0.60	-3.79	-4.86	-5.64	-6.63
Filing Date Shares Outstanding	18.3	18.38	18	17.51	19.03	18.86
Total Common Shares Outstanding	18.37	18.13	17.71	17.6	18.89	18.71
Working Capital	195.56	184.77	181.42	143.39	115.33	118.96
Book Value Per Share	17.10	16.26	14.92	14.33	16.41	22.21
Tangible Book Value	226.24	206.97	176.37	161.15	142.71	87.04
Tangible Book Value Per Share	12.32	11.42	9.96	9.15	7.55	4.65
Land	-	3.16	3.16	8.27	8.8	8.95
Buildings	-	16.72	16.72	40.11	50.59	51.94
Machinery	-	40.08	46.9	47.48	43.04	39.08
Leasehold Improvements	-	52.58	49.83	42.92	37.16	30.34

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Aug 10, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 5, 2026

Data Sources Report a data error