Lincoln Educational Services Corporation (LINC)

LINC Financials Overview

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

Revenue & Profits

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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
Revenue Revenue Growth	570.78	518.24	440.06	378.07	348.29	335.34
Revenue Growth	22.02%	17.77%	16.40%	8.55%	3.86%	14.41%
Gross Profit Gross Profit Growth	341.56	312.85	258.31	215.8	199.54	196.41
Operating Income Operating Income Growth	32.86	28.98	14.5	6.66	17.15	0.08
Net Income Net Income Growth	22.8	20	9.89	26	9.21	26.1
Earnings Per Share EPS Growth	0.73	0.64	0.32	0.85	0.36	1.04
EPS Growth	59.97%	100.00%	-62.35%	138.82%	-65.78%	-30.08%

Revenue by Segment

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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
Campus Operations Campus Operations Growth	570.78	518.24	432.97	367.23	330.9	-
Transitional Transitional Growth	-	-	7.1	10.84	17.39	6.81
Total Total Growth	570.78	518.24	440.06	378.07	348.29	335.34

Cash & Debt

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Fiscal Year	Current	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 & Investments Cash & Investments Growth	44.18	28.52	59.27	75.99	60.83	83.31
Total Debt Total Debt Growth	228.1	203.86	177.56	116.79	100.63	97.89
Net Cash (Debt) Net Cash Growth	-183.92	-175.35	-118.29	-40.79	-39.8	-14.58
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-5.86	-5.61	-3.83	-1.34	-1.54	-0.58

Cash Flow & CapEx

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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
Operating Cash Flow Operating Cash Flow Growth	94.02	59.31	29.31	25.56	0.88	27.45
Capital Expenditures CapEx Growth	-69.49	-86.63	-56.87	-40.7	-8.99	-7.53
Free Cash Flow Free Cash Flow Growth	24.53	-27.32	-27.56	-15.14	-8.1	19.92
Free Cash Flow Growth	-	-	-	-	-	11.23%

Margins

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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
Gross Margin	59.84%	60.37%	58.70%	57.08%	57.29%	58.57%
Operating Margin	5.76%	5.59%	3.29%	1.76%	4.92%	0.02%
Pretax Margin	5.09%	5.04%	3.34%	9.43%	4.72%	14.09%
Profit Margin	4.00%	3.86%	2.25%	6.88%	2.65%	7.78%
FCF Margin	4.30%	-5.27%	-6.26%	-4.00%	-2.33%	5.94%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 2, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	33.35	38.19	50.35	12.11	19.89	7.73
Forward PE	25.13	36.15	21.87	19.75	10.72	10.88
P/FCF Ratio	31.42	-	-	-	-	10.13
PS Ratio	1.35	1.47	1.13	0.83	0.53	0.60

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 2, 2026

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