Strategic Education Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,268	1,220	1,133	1,065	1,132
Revenue Growth (YoY)	3.96%	7.68%	6.33%	-5.85%	10.12%
Gross Profit	1,268	1,220	1,133	1,065	1,132
Selling, General & Admin	424.97	412.16	384.44	379.82	361.35
Depreciation & Amortization Expenses	-	-	11.46	14.35	51.5
Other Operating Expenses	669.02	652.14	641.7	600.55	644.93
Total Operating Expenses	1,094	1,064	1,038	994.72	1,058
Operating Income	174.23	155.63	95.32	70.76	73.91
Total Non-Operating Income (Expense)	3.16	5.8	5.41	-1.19	2.69
Pretax Income	177.39	161.43	100.73	69.57	76.6
Provision for Income Taxes	50.78	48.75	30.94	22.9	21.51
Net Income	126.61	112.68	69.79	46.67	55.09
Net Income to Common	126.61	112.68	69.79	46.67	55.09
Net Income Growth	12.36%	61.46%	49.54%	-15.28%	-36.14%
Shares Outstanding (Basic)	23	23	23	24	24
Shares Outstanding (Diluted)	23	24	24	24	24
Shares Change (YoY)	-3.06%	0.77%	-0.18%	-0.51%	5.52%
EPS (Basic)	5.57	4.81	2.98	1.97	2.30
EPS (Diluted)	5.41	4.67	2.91	1.94	2.28
EPS Growth	15.85%	60.48%	50.00%	-14.91%	-39.52%
Free Cash Flow	153.95	128.75	80.18	82.88	131.09
Free Cash Flow Growth	19.57%	60.59%	-3.26%	-36.78%	36.42%
Free Cash Flow Per Share	6.58	5.33	3.35	3.45	5.43
Dividends Per Share	2.400	2.400	2.400	2.400	2.400
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	13.74%	12.76%	8.41%	6.64%	6.53%
Profit Margin	9.98%	9.24%	6.16%	4.38%	4.87%
FCF Margin	12.14%	10.55%	7.08%	7.78%	11.58%
EBITDA	222.64	200.01	152.63	133.88	177.33
EBITDA Margin	17.56%	16.39%	13.47%	12.57%	15.67%
EBIT	174.23	155.63	95.32	70.76	73.91
EBIT Margin	13.74%	12.76%	8.41%	6.64%	6.53%
Effective Tax Rate	28.63%	30.20%	30.71%	32.92%	28.08%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q