Lincoln Educational Services Corporation (LINC)

LINC Balance Sheet

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	16.69	28.52	59.27	75.99	46.07	83.31
Short-Term Investments	-	-	-	-	14.76	-
Cash & Short-Term Investments	16.69	28.52	59.27	75.99	60.83	83.31
Cash Growth	-41.75%	-51.89%	-22.00%	24.92%	-26.98%	119.08%
Accounts Receivable	41.73	36.93	42.98	35.69	37.18	26.16
Other Receivables	0.5	1.6	-	-	-	-
Total Trade Receivables	42.24	38.53	42.98	35.69	37.18	26.16
Inventory	2.49	3.99	3.05	2.95	2.62	2.72
Other Current Assets	14.99	16	5.94	20.03	13.51	9.44
Total Current Assets	76.4	87.03	111.25	134.66	114.14	121.63
Net Property, Plant & Equipment	355.22	350.9	266.31	156.58	117.04	114.61
Goodwill	10.74	10.74	10.74	10.74	14.54	14.54
Other Long-Term Assets	44.37	44.49	48.25	43.27	45.86	44.53
Total Assets	486.73	493.16	436.56	345.25	291.57	295.3
Accounts Payable	28.25	27.02	37.03	18.15	10.5	12.3
Accrued Expenses	13.82	18.43	11.99	13.68	8.65	15.67
Current Portion of Leases	10.94	11.1	9.5	11.81	9.63	11.48
Unearned Revenue	39.29	44.16	30.63	26.91	24.15	25.41
Other Current Liabilities	-	-	1.07	2.87	2.09	1.03
Total Current Liabilities	92.3	100.71	90.21	73.41	55.02	65.88
Long-Term Debt	5	-	-	-	-	-
Long-Term Leases	190.61	192.77	168.06	104.98	91	86.41
Other Long-Term Liabilities	-	-	0.02	0.06	0.67	1.61
Total Long-Term Liabilities	195.61	192.77	168.08	105.04	91.67	88.02
Total Liabilities	287.91	293.48	258.29	178.45	146.69	153.9
Common Stock	48.18	48.18	48.18	48.18	49.07	141.38
Treasury Stock	-	-	-	-	-	-82.86
Additional Paid-in Capital	47.12	52.34	50.64	49.38	45.54	32.44
Accumulated Other Comprehensive Income	-	-	0.27	-0.04	-0.96	-1.24
Retained Earnings	103.52	99.17	79.17	69.28	51.23	39.7
Total Common Shareholders' Equity	198.83	199.69	178.26	166.8	144.88	129.42
Minority Interest	-	-	-	-	-	11.98
Shareholders' Equity	198.83	199.69	178.26	166.8	144.88	141.4
Total Liabilities & Equity	486.73	493.16	436.56	345.25	291.57	295.3
Total Debt	206.55	203.86	177.56	116.79	100.63	97.89
Net Cash (Debt)	-189.86	-175.35	-118.29	-40.79	-39.8	-14.58
Net Cash Per Share	-6.06	-5.61	-3.83	-1.34	-1.24	-0.45
Book Value	198.83	199.69	178.26	166.8	144.88	129.42
Book Value Per Share	6.35	6.39	5.77	5.46	4.53	4.02
Tangible Book Value	188.09	188.95	167.52	156.06	130.34	114.88
Tangible Book Value Per Share	6.00	6.04	5.42	5.11	4.07	3.57

Updated May 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q