Strategic Education financials
$75.78−0.17%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.27B | $1.22B | $1.13B | $1.07B | $1.13B | $1.03B | $997.1M | $634.2M | $454.9M | $441.1M |
| Gross profit | $1.27B | $1.22B | $1.13B | $1.07B | $1.13B | $1.03B | $997.1M | $634.2M | $454.9M | $441.1M |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating income | $174.2M | $155.6M | $95.3M | $70.8M | $73.9M | $109.4M | $110.5M | -$22.7M | $52.2M | $57.5M |
| Net income | $126.6M | $112.7M | $69.8M | $46.7M | $55.1M | $86.3M | $81.1M | -$15.7M | $20.6M | $34.8M |
| Net margin | 10.0% | 9.2% | 6.2% | 4.4% | 4.9% | 8.4% | 8.1% | −2.5% | 4.5% | 7.9% |
| Diluted EPS | $5.41 | $4.67 | $2.91 | $1.94 | $2.28 | $3.77 | $3.67 | $-1.03 | $1.84 | $3.21 |
| EBITDA | $244.6M | $201.7M | $170.4M | $137.1M | $214.0M | $244.7M | $237.3M | $97.5M | $75.2M | $70.4M |
| Operating cash flow | $198.2M | $169.3M | $117.1M | $126.1M | $180.5M | $142.9M | $202.1M | $46.9M | $56.2M | $44.5M |
| Free cash flow | $153.9M | $128.8M | $80.2M | $82.9M | $131.1M | $96.1M | $163.5M | $19.3M | $38.1M | $31.4M |
| Diluted shares | 23.4M | 24.1M | 24.0M | 24.0M | 24.1M | 22.9M | 22.1M | 15.2M | 11.2M | 10.8M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $140.8M | $137.1M | $168.5M | $213.7M | $268.9M | $187.5M |
| Short-term investments | $7.3M | $46.9M | $39.7M | $9.2M | $6.5M | $7.6M |
| Total debt | $0.00 | $0.00 | $61.4M | $101.4M | $141.6M | $141.8M |
| Total assets | $2.04B | $2.05B | $2.13B | $2.16B | $2.31B | $2.30B |
| Total liabilities | $392.1M | $387.2M | $472.7M | $526.0M | $591.9M | $547.5M |
| Shareholders' equity | $1.65B | $1.66B | $1.65B | $1.64B | $1.71B | $1.75B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology