Lincoln Educational Services Corporation (LINC)

LINC Balance Sheet

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	53.96	75.99	46.07	83.31	38.03	23.64
Short-Term Investments	-	-	14.76	-	-	-
Cash & Short-Term Investments	53.96	75.99	60.83	83.31	38.03	23.64
Cash Growth	-18.31%	24.92%	-26.98%	119.08%	60.83%	34.56%
Receivables	53.12	35.69	37.18	26.16	30.02	20.65
Inventory	2.71	2.95	2.62	2.72	2.39	1.61
Prepaid Expenses	5.64	5.56	4.74	4.88	3.72	4.19
Restricted Cash	-	4.28	4.21	-	-	-
Other Current Assets	-	10.2	4.56	4.56	-	0.38
Total Current Assets	115.44	134.66	114.14	121.63	74.16	50.48
Property, Plant & Equipment	232.5	156.58	117.04	114.61	103.58	98.41
Goodwill	10.74	10.74	14.54	14.54	14.54	14.54
Long-Term Deferred Tax Assets	22.76	23.22	22.31	23.71	35.72	-
Long-Term Deferred Charges	0.36	-	-	-	-	-
Other Long-Term Assets	22.22	20.05	23.55	20.82	17.2	31.34
Total Assets	404.02	345.25	291.57	295.3	245.19	194.76
Accounts Payable	27.86	18.15	10.5	12.3	15.68	14.58
Accrued Expenses	12.28	13.68	8.65	15.67	16.69	7.87
Current Portion of Long-Term Debt	-	-	-	-	2	2
Current Portion of Leases	10.34	11.81	9.63	11.48	8.5	9.14
Current Income Taxes Payable	-	2.83	2.06	1.02	0.49	-
Current Unearned Revenue	22.98	26.91	24.15	25.41	-	-
Other Current Liabilities	-	0.03	0.03	0.02	23.48	23.61
Total Current Liabilities	73.46	73.41	55.02	65.88	66.84	57.21
Long-Term Debt	-	-	-	-	15.91	32.13
Long-Term Leases	160.6	104.98	91	86.41	52.7	46.02
Long-Term Deferred Tax Liabilities	-	-	-	-	-	0.15
Other Long-Term Liabilities	-	0.06	-	-	2.43	0.11
Total Liabilities	234.06	178.45	146.69	153.9	142.14	139.63
Common Stock	48.18	48.18	49.07	141.38	141.38	141.38
Additional Paid-In Capital	49.48	49.38	45.54	32.44	30.51	30.15
Retained Earnings	72.34	69.28	51.23	39.7	6.2	-42.06
Treasury Stock	-	-	-	-82.86	-82.86	-82.86
Comprehensive Income & Other	-0.04	-0.04	-0.96	-1.24	-4.17	-3.46
Total Common Equity	169.96	166.8	144.88	129.42	91.07	43.15
Shareholders' Equity	169.96	166.8	144.88	141.4	103.05	55.13
Total Liabilities & Equity	404.02	345.25	291.57	295.3	245.19	194.76
Total Debt	170.94	116.79	100.63	97.89	79.12	89.29
Net Cash (Debt)	-116.98	-40.79	-39.8	-14.58	-41.09	-65.64
Net Cash Per Share	-3.80	-1.34	-1.54	-0.58	-1.66	-2.67
Filing Date Shares Outstanding	31.48	31.76	31.51	27.45	26.99	26.36
Total Common Shares Outstanding	31.48	31.36	31.15	27	26.48	25.23
Working Capital	41.98	61.25	59.12	55.75	7.32	-6.73
Book Value Per Share	5.40	5.32	4.65	4.79	3.44	1.71
Tangible Book Value	159.22	156.06	130.34	114.88	76.53	28.61
Tangible Book Value Per Share	5.06	4.98	4.18	4.25	2.89	1.13
Land	-	0.05	0.05	0.65	6.97	6.97
Buildings	-	101.54	86.03	88.06	134.53	131.74
Machinery	-	81.81	83.34	86.19	82.87	82.73
Construction In Progress	-	7.62	0.89	1.56	0.33	0.32

Source: S&P Capital IQ. Standard template. Financial Sources.