Lincoln Educational Services Corporation (LINC)

LINC Cash Flow Statement

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
Net Income	14.29	9.89	26	12.63	34.72	48.57
Depreciation & Amortization	15.14	12.96	6.77	6.36	7.14	7.4
Other Amortization	0.17	0.13	-	-	0.62	0.18
Loss (Gain) From Sale of Assets	0.73	2.12	-30.92	-0.18	-22.48	-0.08
Asset Writedown & Restructuring Costs	-	-	4.22	1.05	0.7	-
Stock-Based Compensation	5.07	4.63	5.89	3.11	2.89	1.69
Provision & Write-off of Bad Debts	56.05	56.58	41.64	34.92	26.79	26.89
Other Operating Activities	-2.41	-2.52	1.39	0.89	9.95	-36.21
Change in Accounts Receivable	-63.8	-65.98	-45.76	-48.64	-26.5	-37.38
Change in Inventory	-2.24	-0.18	-0.33	0.1	-0.33	-0.79
Change in Accounts Payable	2.29	11.58	5.04	-2.03	-3.68	0.86
Change in Unearned Revenue	3.8	3.77	2.75	-1.25	1.95	0.04
Change in Income Taxes	-0.41	-1.76	0.78	1.04	0.53	0.87
Change in Other Net Operating Assets	-0.85	-1.91	8.08	-7.12	-4.87	11.45
Operating Cash Flow	27.83	29.31	25.56	0.88	27.45	23.49
Operating Cash Flow Growth	225.22%	14.67%	2797.73%	-96.79%	16.87%	2277.02%
Capital Expenditures	-90.42	-56.87	-40.7	-8.99	-7.53	-5.58
Sale of Property, Plant & Equipment	0.68	9.9	33.31	2.39	45.38	-
Investment in Securities	-	-	14.76	-14.76	-	-
Other Investing Activities	-	-	-	-	-	0.1
Investing Cash Flow	-89.74	-46.97	7.37	-21.35	37.85	-5.48
Long-Term Debt Issued	-	-	-	-	-	11
Long-Term Debt Repaid	-	-0.27	-	-	-17.83	-28
Net Debt Issued (Repaid)	12.62	-0.27	-	-	-17.83	-17
Repurchase of Common Stock	-	-	-0.89	-9.45	-	-
Preferred Dividends Paid	-	-	-	-1.11	-1.22	-1.38
Dividends Paid	-	-	-	-1.11	-1.22	-1.38
Other Financing Activities	-0.99	-3.06	-2.05	-1.99	-0.96	-0.24
Financing Cash Flow	11.62	-3.33	-2.95	-12.55	-20.01	-18.62
Net Cash Flow	-50.29	-21	29.98	-33.02	45.28	-0.62
Free Cash Flow	-62.59	-27.56	-15.14	-8.1	19.92	17.91
Free Cash Flow Growth	-	-	-	-	11.23%	-
Free Cash Flow Margin	-13.38%	-6.26%	-4.00%	-2.33%	5.94%	6.11%
Free Cash Flow Per Share	-2.00	-0.89	-0.50	-0.31	0.79	0.72
Cash Interest Paid	2.68	2.35	0.11	0.17	1.53	1.11
Cash Income Tax Paid	9.34	8.84	7.2	1.47	0.74	0.18
Levered Free Cash Flow	-46.66	-5.88	-13.24	-12.89	-2.21	13.05
Unlevered Free Cash Flow	-45.04	-4.41	-13.03	-12.79	-1.57	13.66
Change in Working Capital	-61.21	-54.48	-29.44	-57.9	-32.89	-24.95

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

SEC Filings: 10-K · 10-Q