Saturday 17 October 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. In the quarter to June 2026, revenue grew 5.51%, EPS grew 2,750.0%, free cash flow fell 78.0% and total debt fell 7.23%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

49.20 0.07 +0.14%

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Market cap: $899.2M
P/E: 19.6×
Fwd P/E: 20.9×
Dividend yield: —
F-score: 7/9
Altman Z: 3.73
Beneish M: −2.75
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

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

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Columns are period end dates

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