American Public Education, Inc. (APEI) vs Lincoln Educational Services Corporation (LINC)

American Public Education, Inc. and Lincoln Educational Services Corporation are both Education & Training Services companies. American Public Education, Inc. and Lincoln Educational Services Corporation are of similar size ($781.7M and $757.5M). American Public Education, Inc. trades at the lower P/E: 16.6× against 30.8×. Lincoln Educational Services Corporation grew revenue faster over the last twelve months: 22.0% against 3.64%. American Public Education, Inc. has the higher net margin (6.84% vs 3.99%) and the higher return on invested capital (22.4% vs 9.83%). Across the 22 metrics below, American Public Education, Inc. leads on 20 and Lincoln Educational Services Corporation on 2.

Valuation

Metric APEI LINC Education & Training Services median
P/E 16.58 30.77 11.19
P/S 1.14 1.23 0.92
P/B 2.43 3.47 1.63
Price to free cash flow 10.91 28.67 9.62
EV/EBITDA 7.79 11.59 7.02
EV/Sales 0.94 1.25 0.82
Earnings yield 6.03% 3.25% 3.17%
Free cash flow yield 9.17% 3.49% 2.30%

Profitability

Metric APEI LINC Education & Training Services median
Gross margin 55.85% 59.84% 54.64%
Operating margin 9.56% 5.91% 0.00%
Net margin 6.84% 3.99% 3.29%
Free cash flow margin 10.49% 4.29% 0.00%
Return on equity 15.58% 11.90% 0.00%
Return on assets 8.50% 4.67% 0.00%
Return on invested capital 22.35% 9.83% 0.00%

Growth

Metric APEI LINC Education & Training Services median
Revenue growth (TTM) 3.64% 22.02% 6.97%
EPS growth (last fiscal year) 147.27% 100.00% —
Revenue growth, 5-year CAGR 15.06% 12.07% 4.27%
Net income growth, 5-year CAGR 6.10% (15.78%) 0.00%

Health

Metric APEI LINC Education & Training Services median
Debt to equity 0.28 0.28 0.08
Current ratio 3.25 0.96 1.33
Net debt to EBITDA (1.25) 0.04 (0.15)

Dividend

Metric APEI LINC Education & Training Services median
Dividend yield — — 1.13%
Payout ratio 0.00 0.00 0.00

Size

Metric APEI LINC Education & Training Services median
Market cap 781.66m 757.51m 68.93m

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