Strategic Education, Inc. (STRA)

Strategic Education Cash Flow Statement

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
Net Income	129.68	126.61	112.68	69.79	46.67	55.09
Depreciation & Amortization	48.14	48.41	44.38	57.31	63.12	103.41
Stock-Based Compensation	22.87	22.95	25.57	19.77	21.79	18.15
Other Adjustments	10.65	10.22	-5.26	-2.97	-10.97	9.91
Change in Receivables	4.27	-1.09	0.22	-12.87	-12.56	-0.2
Changes in Accounts Payable	14.49	4.22	11.58	0.55	-4.34	-6.7
Changes in Income Taxes Payable	-8.81	-5.56	1.07	-4.69	7.58	1.2
Changes in Unearned Revenue	5.71	6.06	-2.95	4.5	18.96	14
Changes in Other Operating Activities	-9.08	-13.63	-17.96	-14.27	-4.21	-14.33
Operating Cash Flow	217.92	198.2	169.33	117.12	126.05	180.53
Operating Cash Flow Growth	36.75%	17.05%	44.58%	-7.09%	-30.18%	26.33%
Capital Expenditures	-44	-44.25	-40.58	-36.94	-43.17	-49.43
Sale of Property, Plant & Equipment	-	2.2	-	5.89	6.53	8.33
Purchases of Investments	-2.46	-28.09	-54.12	-26.91	-	-
Proceeds from Sale of Investments	44.77	79.08	31.05	10.26	6.42	9.3
Payments for Business Acquisitions	-0.03	-0.04	-0.18	-0.53	-0.8	-
Other Investing Activities	-0.44	-0.39	-0.53	-0.31	-0.34	-1.29
Investing Cash Flow	0.03	8.51	-64.36	-48.55	-31.36	-33.09
Long-Term Debt Repaid	-	-	-61.28	-40	-40	-
Net Long-Term Debt Issued (Repaid)	-	-	-61.28	-40	-40	-
Repurchase of Common Stock	-159.81	-148.61	-14.83	-14.83	-43.12	-8.84
Net Common Stock Issued (Repurchased)	-159.81	-148.61	-14.83	-14.83	-43.12	-8.84
Common Dividends Paid	-56.32	-57.54	-58.97	-58.78	-59.24	-59.05
Other Financing Activities	-	-	-1.7	-	-	-
Financing Cash Flow	-216.14	-206.16	-136.77	-113.61	-142.36	-67.89
Effect of Exchange Rate Changes on Cash and Cash Equivalents	2.42	2.31	-3.47	-0.5	-4.09	-2.35
Net Cash Flow	4.24	2.86	-35.27	-45.53	-51.76	77.19
Free Cash Flow	173.92	153.95	128.75	80.18	82.88	131.09
Free Cash Flow Growth	12.97%	19.57%	60.59%	-3.26%	-36.78%	36.42%
FCF Margin	13.69%	12.14%	10.55%	7.08%	7.78%	11.58%
Free Cash Flow Per Share	7.59	6.58	5.33	3.35	3.45	5.43
Levered Free Cash Flow	136.13	121.86	46.94	36.25	44.62	103.23
Unlevered Free Cash Flow	134.55	119.61	104.16	72.51	85.42	101.29

Updated Apr 23, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q