Lincoln Educational Services Corporation (LINC)

LINC Balance Sheet

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
Cash & Equivalents	16.7	59.27	75.99	46.07	83.31	38.03
Short-Term Investments	-	-	-	14.76	-	-
Cash & Short-Term Investments	16.7	59.27	75.99	60.83	83.31	38.03
Cash Growth	-75.07%	-22.00%	24.92%	-26.98%	119.08%	60.83%
Receivables	47.26	42.98	35.69	37.18	26.16	30.02
Inventory	4.5	3.05	2.95	2.62	2.72	2.39
Prepaid Expenses	8.37	4.79	5.56	4.74	4.88	3.72
Restricted Cash	-	-	4.28	4.21	-	-
Other Current Assets	2.79	1.15	10.2	4.56	4.56	-
Total Current Assets	79.63	111.25	134.66	114.14	121.63	74.16
Property, Plant & Equipment	307.77	266.31	156.58	117.04	114.61	103.58
Goodwill	10.74	10.74	10.74	14.54	14.54	14.54
Long-Term Deferred Tax Assets	24.81	25.36	23.22	22.31	23.71	35.72
Long-Term Deferred Charges	0.35	0.32	-	-	-	-
Other Long-Term Assets	24.02	22.57	20.05	23.55	20.82	17.2
Total Assets	447.32	436.56	345.25	291.57	295.3	245.19
Accounts Payable	33.99	37.03	18.15	10.5	12.3	15.68
Accrued Expenses	15.44	11.99	13.68	8.65	15.67	16.69
Current Portion of Long-Term Debt	-	-	-	-	-	2
Current Portion of Leases	10.74	9.5	11.81	9.63	11.48	8.5
Current Income Taxes Payable	-	1.07	2.83	2.06	1.02	0.49
Current Unearned Revenue	28.08	30.63	26.91	24.15	25.41	-
Other Current Liabilities	-	-	0.03	0.03	0.02	23.48
Total Current Liabilities	88.25	90.21	73.41	55.02	65.88	66.84
Long-Term Debt	13	-	-	-	-	15.91
Long-Term Leases	165.39	168.06	104.98	91	86.41	52.7
Other Long-Term Liabilities	-	0.02	0.06	-	-	2.43
Total Liabilities	266.64	258.29	178.45	146.69	153.9	142.14
Common Stock	48.18	48.18	48.18	49.07	141.38	141.38
Additional Paid-In Capital	49.55	50.64	49.38	45.54	32.44	30.51
Retained Earnings	82.67	79.17	69.28	51.23	39.7	6.2
Treasury Stock	-	-	-	-	-82.86	-82.86
Comprehensive Income & Other	0.27	0.27	-0.04	-0.96	-1.24	-4.17
Total Common Equity	180.68	178.26	166.8	144.88	129.42	91.07
Shareholders' Equity	180.68	178.26	166.8	144.88	141.4	103.05
Total Liabilities & Equity	447.32	436.56	345.25	291.57	295.3	245.19
Total Debt	189.13	177.56	116.79	100.63	97.89	79.12
Net Cash (Debt)	-172.43	-118.29	-40.79	-39.8	-14.58	-41.09
Net Cash Per Share	-5.52	-3.83	-1.34	-1.54	-0.58	-1.66
Filing Date Shares Outstanding	31.62	31.59	31.76	31.51	27.45	26.99
Total Common Shares Outstanding	31.63	31.46	31.36	31.15	27	26.48
Working Capital	-8.62	21.04	61.25	59.12	55.75	7.32
Book Value Per Share	5.71	5.67	5.32	4.65	4.79	3.44
Tangible Book Value	169.94	167.52	156.06	130.34	114.88	76.53
Tangible Book Value Per Share	5.37	5.32	4.98	4.18	4.25	2.89
Land	0.05	0.05	0.05	0.05	0.65	6.97
Buildings	133.55	104.08	101.54	86.03	88.06	134.53
Machinery	102.61	85.91	81.81	83.34	86.19	82.87
Construction In Progress	58.4	54.76	7.62	0.89	1.56	0.33

Updated Aug 11, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q