Friday 6 November 2026 Export APEI’s income statement to Excel — free account

American Public Education, Inc.

APEI Consumer Defensive Education & Training Services

American Public Education, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $648.9 million, up 3.89% from fiscal 2024.

Revenue: +5.51%
EPS: +2,750.0%
Free cash flow: −78.0%
Total debt: −7.23%

Quarter to June 2026, against a year earlier

Operating cash flow growth 3 yrs

37.42 0.80 −2.09%

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Market cap: $699.5M
P/E: 15.1×
Fwd P/E: 15.6×
Dividend yield: —
F-score: 7/9
Altman Z: 3.73
Beneish M: −2.75
Dividend safety: n/a

Overview

	Older periods	Sep '25	Dec '25	Mar '26	Jun '26
ROE Full definition →	+8 more TTM periods Free account	9.13%	9.05%	12.34%	15.58%
Piotroski F-Score Full definition →		7	7	7	8
ROA Full definition →		4.42%	4.64%	6.37%	8.50%
ROIC Full definition →		17.48%	14.07%	20.66%	22.35%
Return on Tangible Assets Full definition →		10.15%	9.91%	13.88%	17.23%
Average Days of Receivables Full definition →		28.74	38.88	23.25	21.66
Free Cash Flow per Share Full definition →		4.59	3.83	5.26	3.82
Free Cash Flow Full definition →		82.92	69.06	96.24	70.08
Capital Expenditures Full definition →		7.81	7.10	7.97	(15.52)
Other line items
Cash ROIC Full definition →		14.63%	12.20%	15.64%	11.23%
Accounts Receivable Turnover Full definition →		13.15	9.79	15.72	16.76
Accounts Payable Turnover Full definition →		32.99	46.89	37.12	38.77
Inventory Turnover Full definition →		0.00	0.00	0.00	0.00
Average Days of Payables Full definition →		9.39	5.93	10.01	6.37
Days of Inventory on Hand Full definition →		0.00	0.00	0.00	0.00
Tax Rate Full definition →		(0.32)	(0.28)	(0.22)	(0.24)
Research and Development Expense of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →		42.91%	43.44%	43.15%	43.23%
Share Based Compensation of Revenue Full definition →		1.27%	1.29%	1.28%	1.26%
Interest Coverage Full definition →		13.84	8.98	11.08	—
Operating CF/Net income Full definition →		3.10	2.45	2.48	1.87
Depreciation/Fixed assets Full definition →		0.24	0.25	0.25	0.24
Capex/Depreciation Full definition →		0.45	0.41	0.45	(0.92)
Revenue per Share Full definition →		36.23	36.03	36.05	36.38
Operating CF per Share Full definition →		4.16	3.44	4.83	4.66
Capex per Share Full definition →		0.43	0.39	0.44	(0.85)
Capex to Sales Full definition →		(0.01)	(0.01)	(0.01)	0.02

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Columns are period end dates

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