American Public Education, Inc. (APEI)

American Public Education Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	28.62	16.11	-47.29	-114.99	17.75	18.82
Depreciation & Amortization	17.02	19.3	27.82	32.13	17.83	12.98
Other Amortization	1.41	1.48	1.63	6.48	0.89	-
Loss (Gain) From Sale of Assets	3.58	2	2.98	1.18	1.28	0.85
Asset Writedown & Restructuring Costs	-	-	64	146.9	-	-
Loss (Gain) on Equity Investments	-	4.41	5.24	0.02	0.83	0.01
Stock-Based Compensation	8.43	7.67	7.74	8.01	7.65	7.08
Other Operating Activities	5.15	4.05	-16.01	-45.72	5.55	-0.79
Change in Accounts Receivable	1.26	-11.49	-8.62	-2.05	-7.64	-6.33
Change in Accounts Payable	3.07	-0.82	4.86	-10.21	8.03	-0.09
Change in Unearned Revenue	-0.66	-0.36	0.07	0.02	-23.06	4.68
Change in Income Taxes	1.58	-0.48	2.4	2.43	-5.48	1.94
Change in Other Net Operating Assets	-1.98	6.99	0.7	5.02	-7.36	5.66
Operating Cash Flow	67.48	48.87	45.51	29.22	16.27	44.81
Operating Cash Flow Growth	34.39%	7.38%	55.79%	79.62%	-63.70%	16.78%
Capital Expenditures	-17.27	-21.08	-13.9	-16.39	-11.83	-4.93
Cash Acquisitions	-	-	-	1.95	-325.51	-
Sale (Purchase) of Real Estate	22.95	-	0.12	0.77	0.67	0.77
Investing Cash Flow	5.68	-21.08	-13.77	-13.67	-336.67	-4.16
Long-Term Debt Issued	-	-	-	-	175	-
Long-Term Debt Repaid	-	-2.96	-0.11	-73.86	-2.19	-
Net Debt Issued (Repaid)	-0.27	-2.96	-0.11	-73.86	172.81	-
Issuance of Common Stock	0.16	0.07	-	-	86.21	-
Repurchase of Common Stock	-3.83	-4.24	-10.74	-1.54	-3.03	-15.71
Preferred Dividends Paid	-5.74	-6.06	-6.01	-	-	-
Dividends Paid	-5.74	-6.06	-6.01	-	-	-
Other Financing Activities	-	-	-	-	-13.64	-
Financing Cash Flow	-52.78	-13.19	-16.86	-35.71	242.34	-15.71
Net Cash Flow	20.39	14.6	14.88	-20.17	-78.06	24.95
Free Cash Flow	50.22	27.79	31.62	12.83	4.44	39.88
Free Cash Flow Growth	59.64%	-12.11%	146.52%	189.07%	-88.88%	28.18%
Free Cash Flow Margin	7.79%	4.45%	5.27%	2.11%	1.06%	12.39%
Free Cash Flow Per Share	2.73	1.53	1.75	0.68	0.24	2.65
Cash Interest Paid	10.11	10.73	10.6	12.5	3.68	-
Cash Income Tax Paid	6.07	6.3	2.42	4	7.46	5.9
Levered Free Cash Flow	76.75	7.28	20.84	18.3	-9.73	39.64
Unlevered Free Cash Flow	77.35	7.13	22	22.9	-7.94	39.64
Change in Working Capital	3.27	-6.15	-0.6	-4.78	-35.52	5.86

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q