American Public Education, Inc. (APEI)
NASDAQ: APEI · Real-Time Price · USD
41.75
+2.66 (6.80%)
Nov 10, 2026, 1:41 PM EST - Market open
American Public Education Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
| 673.94 | 648.86 | 624.56 | 600.55 | 606.33 | 418.8 | |
Revenue Growth | 2.95% | 3.89% | 4.00% | -0.95% | 44.78% | 30.15% |
Cost of Revenue | 295.17 | 297.02 | 295.7 | 292.86 | 288.47 | 172.62 |
Gross Profit | 378.78 | 351.84 | 328.86 | 307.68 | 317.86 | 246.18 |
Selling, General & Admin | 299.09 | 281.83 | 269.97 | 261.19 | 273.6 | 189.1 |
Operating Expenses | 315.22 | 297.98 | 289.27 | 289.01 | 305.73 | 206.93 |
Operating Income | 63.56 | 53.86 | 39.58 | 18.67 | 12.13 | 39.25 |
Interest Expense | -0.8 | -4.23 | -2.13 | -4.46 | -17.73 | -4.28 |
Earnings From Equity Investments | - | - | -4.41 | -5.24 | -0.02 | -0.83 |
EBT Excluding Unusual Items | 62.76 | 49.63 | 33.05 | 8.98 | -5.62 | 34.15 |
Merger & Restructuring Charges | - | - | -0.8 | - | -1.4 | -7.6 |
Gain (Loss) on Sale of Assets | -1.43 | -5.85 | -2 | -2.98 | -1.18 | -1.28 |
Asset Writedown | - | - | - | -64 | -146.9 | - |
Other Unusual Items | -1.75 | -0.08 | -3.72 | - | 3.83 | - |
Pretax Income | 59.58 | 43.71 | 26.53 | -58 | -151.27 | 25.26 |
Income Tax Expense | 13.58 | 12.15 | 10.42 | -10.72 | -36.28 | 7.51 |
Net Income | 46 | 31.56 | 16.11 | -47.29 | -114.99 | 17.75 |
Preferred Dividends & Other Adjustments | - | 6.25 | 6.06 | 6.01 | 0.05 | - |
Net Income to Common | 46 | 25.31 | 10.06 | -53.29 | -115.04 | 17.75 |
Net Income Growth | 90.08% | 151.62% | - | - | - | -5.68% |
Shares Outstanding (Basic) | 18 | 18 | 18 | 18 | 19 | 18 |
Shares Outstanding (Diluted) | 19 | 19 | 18 | 18 | 19 | 18 |
Shares Change | 1.34% | 2.82% | 0.20% | -3.96% | 3.31% | 21.32% |
EPS (Basic) | 2.52 | 1.40 | 0.57 | -2.94 | -6.10 | 0.98 |
EPS (Diluted) | 2.46 | 1.36 | 0.55 | -2.94 | -6.10 | 0.97 |
EPS Growth | 89.11% | 147.27% | - | - | - | -22.40% |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 56.37 | 46.1 | 27.79 | 31.62 | 12.83 | 4.44 |
Free Cash Flow Per Share | 3.00 | 2.47 | 1.53 | 1.75 | 0.68 | 0.24 |
Gross Margin | 56.20% | 54.22% | 52.65% | 51.23% | 52.42% | 58.78% |
Operating Margin | 9.43% | 8.30% | 6.34% | 3.11% | 2.00% | 9.37% |
Profit Margin | 6.83% | 3.90% | 1.61% | -8.87% | -18.97% | 4.24% |
Free Cash Flow Margin | 8.36% | 7.11% | 4.45% | 5.27% | 2.11% | 1.06% |
EBITDA | 79.76 | 70.01 | 58.89 | 46.49 | 44.26 | 57.09 |
EBITDA Margin | 11.83% | 10.79% | 9.43% | 7.74% | 7.30% | 13.63% |
D&A For EBITDA | 16.2 | 16.15 | 19.3 | 27.82 | 32.13 | 17.83 |
EBIT | 63.56 | 53.86 | 39.58 | 18.67 | 12.13 | 39.25 |
EBIT Margin | 9.43% | 8.30% | 6.34% | 3.11% | 2.00% | 9.37% |
Effective Tax Rate | 22.79% | 27.79% | 39.27% | - | - | 29.73% |
Advertising Expenses | - | 84.4 | 78.6 | 82.6 | 90.5 | 60.3 |