Lincoln Educational Services Corporation (LINC)

LINC Balance Sheet

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

Assets

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
Cash & Equivalents	44.18	28.52	59.27	75.99	46.07	83.31
Short-Term Investments	-	-	-	-	14.76	-
Cash & Short-Term Investments	44.18	28.52	59.27	75.99	60.83	83.31
Cash Growth	164.52%	-51.89%	-22.00%	24.92%	-26.98%	119.08%
Accounts Receivable	45.87	36.93	42.98	35.69	37.18	26.16
Other Receivables	1.92	1.6	-	-	-	-
Total Trade Receivables	47.79	38.53	42.98	35.69	37.18	26.16
Inventory	4.08	3.99	3.05	2.95	2.62	2.72
Other Current Assets	10.2	16	5.94	20.03	13.51	9.44
Total Current Assets	106.25	87.03	111.25	134.66	114.14	121.63
Net Property, Plant & Equipment	366.49	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	46.3	44.49	48.25	43.27	45.86	44.53
Total Assets	529.78	493.16	436.56	345.25	291.57	295.3

Liabilities

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
Accounts Payable	30.68	27.02	37.03	18.15	10.5	12.3
Accrued Expenses	16.7	18.43	11.99	13.68	8.65	15.67
Current Portion of Leases	11.66	11.1	9.5	11.81	9.63	11.48
Unearned Revenue	51.92	44.16	30.63	26.91	24.15	25.41
Other Current Liabilities	-	-	1.07	2.87	2.09	1.03
Total Current Liabilities	110.95	100.71	90.21	73.41	55.02	65.88
Long-Term Debt	26	-	-	-	-	-
Long-Term Leases	190.44	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	216.44	192.77	168.08	105.04	91.67	88.02
Total Liabilities	327.39	293.48	258.29	178.45	146.69	153.9

Shareholders' Equity

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
Common Stock	48.18	48.18	48.18	48.18	49.07	141.38
Treasury Stock	-	-	-	-	-	-82.86
Additional Paid-in Capital	48.74	52.34	50.64	49.38	45.54	32.44
Accumulated Other Comprehensive Income	-	-	0.27	-0.04	-0.96	-1.24
Retained Earnings	105.47	99.17	79.17	69.28	51.23	39.7
Total Common Shareholders' Equity	202.39	199.69	178.26	166.8	144.88	129.42
Minority Interest	-	-	-	-	-	11.98
Shareholders' Equity	202.39	199.69	178.26	166.8	144.88	141.4
Total Liabilities & Equity	529.78	493.16	436.56	345.25	291.57	295.3

Additional Metrics

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
Total Debt	228.1	203.86	177.56	116.79	100.63	97.89
Net Cash (Debt)	-183.92	-175.35	-118.29	-40.79	-39.8	-14.58
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-5.86	-5.61	-3.83	-1.34	-1.24	-0.45
Book Value	202.39	199.69	178.26	166.8	144.88	129.42
Book Value Per Share	6.45	6.39	5.77	5.46	4.53	4.02
Tangible Book Value	191.65	188.95	167.52	156.06	130.34	114.88
Tangible Book Value Per Share	6.11	6.04	5.42	5.11	4.07	3.57

SEC Filings: 10-K · 10-Q

Data Source: Fiscal.ai Last updated: Aug 10, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 12, 2026

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