American Public Education Inc - Understand $apei stock

$APEI Market Cap: $373 Million

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$613.3M

TTM

Gross Margin

51.93%

TTM

Net Earnings

$14.62M

TTM

Current Assets

$236.5M

Q3 2024

Current Liabilities

$89.41M

Q3 2024

Current Ratio

264.52%

Q3 2024

Total Assets

$569.6M

Q3 2024

Total Liabilities

$279.2M

Q3 2024

Book Value

$290.4M

Q3 2024

Cash

$135.4M

Q3 2024

P/E

25.51

Nov 29, 2024 EST

Free Cash Flow

$22.01M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$600.5M	$606.3M	$418.8M	$321.8M	$286.3M	$297.7M	$299.2M	$313.1M	$327.9M	$350.0M	$329.5M	$313.5M	$260.4M	$198.2M	$149.0M	$107.1M	$69.10M	$40.00M	$28.20M	$23.10M	$17.80M
YoY Change	-0.95%	44.78%	30.15%	12.41%	-3.84%	-0.52%	-4.44%	-4.5%	-6.32%	6.23%	5.09%	20.41%	31.39%	33.0%	39.12%	54.99%	72.75%	41.84%	22.08%	29.78%	66.36%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$600.5M	$606.3M	$418.8M	$321.8M	$286.3M	$297.7M	$299.2M	$313.1M	$327.9M	$350.0M	$329.5M	$313.5M	$260.4M	$198.2M	$149.0M	$107.1M	$69.10M	$40.00M	$28.20M	$23.10M	$17.80M
Cost Of Revenue	$292.9M	$288.5M	$172.6M	$122.2M	$111.9M	$115.3M	$116.2M	$117.0M	$118.8M	$123.8M	$112.8M	$110.2M	$95.20M	$75.30M	$58.40M	$43.60M	$29.50M	$18.00M	$13.20M	$10.90M	$8.600M
Gross Profit	$307.7M	$317.9M	$246.2M	$199.6M	$174.4M	$182.4M	$183.1M	$196.1M	$209.1M	$226.3M	$216.7M	$203.3M	$165.2M	$122.9M	$90.60M	$63.60M	$39.60M	$22.10M	$14.90M	$12.20M	$9.200M
Gross Profit Margin	51.23%	52.42%	58.78%	62.04%	60.91%	61.27%	61.18%	62.63%	63.77%	64.65%	65.77%	64.85%	63.45%	62.02%	60.81%	59.38%	57.31%	55.25%	52.84%	52.81%	51.69%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Selling, General & Admin	$261.2M	$275.0M	$196.7M	$161.0M	$138.1M	$131.5M	$127.4M	$127.8M	$135.4M	$144.2M	$135.8M	$123.4M	$93.06M	$66.34M	$45.50M	$33.70M	$22.10M	$14.00M	$11.40M	$7.900M	$7.100M
YoY Change	-5.02%	39.81%	22.15%	16.6%	5.03%	3.25%	-0.31%	-5.67%	-6.06%	6.22%	10.03%	32.57%	40.28%	45.8%	35.01%	52.49%	57.86%	22.81%	44.3%	11.27%	33.96%
% of Gross Profit	84.89%	86.52%	79.9%	80.67%	79.21%	72.09%	69.56%	65.14%	64.77%	63.71%	62.64%	60.69%	56.33%	53.98%	50.22%	52.99%	55.81%	63.35%	76.51%	64.75%	77.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$15.60M	$16.20M	$12.70M	$13.00M	$15.30M	$16.90M	$18.20M	$18.67M	$19.63M	$14.98M	$13.23M	$11.00M	$9.089M	$6.352M	$5.230M	$4.240M	$2.830M	$1.950M	$1.300M	$670.0K	$200.0K
YoY Change	-3.7%	27.56%	-2.31%	-15.03%	-9.47%	-7.14%	-2.54%	-4.85%	31.01%	13.27%	20.27%	20.98%	43.09%	21.45%	23.35%	49.82%	45.13%	50.0%	94.03%	235.0%	100.0%
% of Gross Profit	5.07%	5.1%	5.16%	6.51%	8.78%	9.26%	9.94%	9.52%	9.39%	6.62%	6.1%	5.41%	5.5%	5.17%	5.77%	6.67%	7.15%	8.82%	8.72%	5.49%	2.17%
Operating Expenses	$261.2M	$275.0M	$196.7M	$161.0M	$138.1M	$131.5M	$127.4M	$127.8M	$135.4M	$144.2M	$135.8M	$123.4M	$93.06M	$66.34M	$50.70M	$37.90M	$24.90M	$16.00M	$12.80M	$8.700M	$7.300M
YoY Change	-5.02%	39.81%	22.15%	16.6%	5.03%	3.25%	-0.31%	-5.67%	-6.06%	6.22%	10.03%	32.57%	40.28%	30.85%	33.77%	52.21%	55.63%	25.0%	47.13%	19.18%	35.19%
Operating Profit	-$48.31M	-$137.3M	$30.37M	$24.76M	$12.76M	$32.53M	$34.86M	$38.28M	$52.28M	$65.83M	$67.44M	$68.80M	$62.86M	$50.02M	$39.90M	$25.70M	$14.70M	$6.100M	$2.100M	$3.500M	$1.900M
YoY Change	-64.83%	-552.23%	22.68%	94.08%	-60.78%	-6.69%	-8.93%	-26.79%	-20.58%	-2.38%	-1.98%	9.45%	25.66%	25.37%	55.25%	74.83%	140.98%	190.48%	-40.0%	84.21%	-733.33%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Interest Expense	-$4.459M	$3.900M	-$4.277M	$1.092M	$3.908M	$2.915M	$185.0K	$116.0K	$115.0K	$361.0K	$309.0K	$135.0K	$109.0K	$100.0K	$100.0K	$700.0K	$900.0K	$300.0K	$200.0K	$100.0K	$0.00
YoY Change	-214.33%	-191.19%	-491.67%	-72.06%	34.07%	1475.68%	59.48%	0.87%	-68.14%	16.83%	128.89%	23.85%	9.0%	0.0%	-85.71%	-22.22%	200.0%	50.0%	100.0%
% of Operating Profit			-14.08%	4.41%	30.64%	8.96%	0.53%	0.3%	0.22%	0.55%	0.46%	0.2%	0.17%	0.2%	0.25%	2.72%	6.12%	4.92%	9.52%	2.86%	0.0%
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Pretax Income	-$52.77M	-$151.2M	$26.09M	$25.85M	$16.66M	$35.44M	$35.04M	$38.39M	$52.40M	$66.19M	$67.75M	$68.94M	$62.97M	$50.13M	$40.00M	$26.40M	$15.60M	$3.200M	$2.400M	$3.600M	$1.900M
YoY Change	-65.11%	-679.63%	0.95%	55.12%	-52.98%	1.13%	-8.72%	-26.73%	-20.84%	-2.29%	-1.73%	9.48%	25.6%	25.33%	51.52%	69.23%	387.5%	33.33%	-33.33%	89.47%	-733.33%
Income Tax	-$10.72M	-$36.28M	$7.511M	$7.020M	$5.187M	$9.287M	$11.49M	$14.94M	$20.07M	$25.15M	$25.65M	$26.53M	$22.21M	$20.27M	$16.00M	$10.20M	$6.800M	$800.0K	$1.100M	$1.300M	$600.0K
% Of Pretax Income			28.78%	27.16%	31.13%	26.2%	32.8%	38.91%	38.31%	37.99%	37.85%	38.48%	35.27%	40.42%	40.0%	38.64%	43.59%	25.0%	45.83%	36.11%	31.58%
Net Earnings	-$47.29M	-$115.0M	$17.75M	$18.82M	$10.01M	$25.64M	$21.12M	$24.16M	$32.41M	$40.88M	$42.03M	$42.32M	$40.76M	$29.87M	$23.90M	$16.20M	$8.800M	$1.800M	$1.100M	$2.300M	$1.200M
YoY Change	-58.88%	-747.77%	-5.68%	87.98%	-60.95%	21.39%	-12.56%	-25.48%	-20.7%	-2.75%	-0.68%	3.84%	36.46%	24.97%	47.53%	84.09%	388.89%	63.64%	-52.17%	91.67%	-700.0%
Net Earnings / Revenue	-7.87%	-18.97%	4.24%	5.85%	3.5%	8.61%	7.06%	7.71%	9.89%	11.68%	12.76%	13.5%	15.65%	15.07%	16.04%	15.13%	12.74%	4.5%	3.9%	9.96%	6.74%
Basic Earnings Per Share	-$2.94	-$6.10	$0.98	$1.27	$0.62	$1.56	$1.30	$1.50	$1.94	$2.36	$2.38	$2.38	$2.28	$1.63
Diluted Earnings Per Share	-$2.93	-$6.08	$0.97	$1.25	$0.62	$1.54	$1.29	$1.49	$1.93	$2.33	$2.35	$2.35	$2.23	$1.59	$1.265M	$861.7K	$647.1K	$147.5K	$135.8K	$425.9K	$222.2K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005
Cash & Short-Term Investments	$144.3M	$129.5M	$149.6M	$227.7M	$202.7M	$212.1M	$179.2M	$146.4M	$105.7M	$115.6M	$94.80M	$114.9M	$119.0M	$81.40M	$74.90M	$47.70M	$27.00M	$11.70M	$5.500M
YoY Change	11.5%	-13.48%	-34.29%	12.33%	-4.43%	18.36%	22.4%	38.51%	-8.56%	21.94%	-17.49%	-3.45%	46.19%	8.68%	57.02%	76.67%	130.77%	112.73%
Cash & Equivalents	$144.3M	$129.5M	$149.6M	$227.7M	$202.7M	$212.1M	$179.2M	$146.4M	$105.7M	$115.6M	$94.80M	$114.9M	$119.0M	$81.40M	$74.90M	$47.70M	$27.00M	$11.70M	$5.500M
Short-Term Investments
Other Short-Term Assets	$21.59M	$11.41M	$11.68M	$6.500M	$7.100M	$5.500M	$4.800M	$5.300M	$13.00M	$12.40M	$9.000M	$10.80M	$8.700M	$5.600M	$4.000M	$2.800M	$1.900M	$1.200M	$800.0K
YoY Change	89.26%	-2.33%	79.71%	-8.45%	29.09%	14.58%	-9.43%	-59.23%	4.84%	37.78%	-16.67%	24.14%	55.36%	40.0%	42.86%	47.37%	58.33%	50.0%
Inventory
Prepaid Expenses
Receivables	$50.97M	$42.35M	$36.03M	$17.70M	$11.30M	$14.10M	$7.100M	$6.900M	$7.900M	$6.100M	$9.500M	$10.40M	$9.500M	$10.30M	$8.700M	$6.200M	$4.900M	$5.400M	$7.500M
Other Receivables	$474.0K	$2.871M	$5.303M	$0.00	$1.800M	$900.0K	$0.00	$0.00	$0.00	$2.100M	$3.200M	$5.000M	$1.600M	$700.0K	$800.0K	$1.300M	$1.100M	$700.0K	$1.300M
Total Short-Term Assets	$217.4M	$186.1M	$202.6M	$251.8M	$222.9M	$232.6M	$191.1M	$158.6M	$126.6M	$136.2M	$116.6M	$141.1M	$138.7M	$98.00M	$88.40M	$58.00M	$34.80M	$19.00M	$15.10M
YoY Change	16.81%	-8.17%	-19.52%	12.97%	-4.17%	21.72%	20.49%	25.28%	-7.05%	16.81%	-17.36%	1.73%	41.53%	10.86%	52.41%	66.67%	83.16%	25.83%
Property, Plant & Equipment	$187.5M	$209.8M	$180.4M	$77.20M	$90.20M	$86.90M	$92.40M	$97.70M	$109.3M	$102.4M	$90.70M	$82.80M	$58.80M	$42.40M	$25.30M	$19.60M	$13.40M	$9.400M	$9.500M
YoY Change	-10.6%	16.3%	133.63%	-14.41%	3.8%	-5.95%	-5.42%	-10.61%	6.74%	12.9%	9.54%	40.82%	38.68%	67.59%	29.08%	46.27%	42.55%	-1.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments				$10.50M	$10.50M	$12.00M	$12.50M	$14.60M	$15.90M	$12.10M	$10.60M	$6.700M
YoY Change				0.0%	-12.5%	-4.0%	-14.38%	-8.18%	31.4%	14.15%	58.21%
Other Assets	$61.35M	$51.88M	$14.04M	$1.300M	$1.000M	$1.600M	$4.500M	$10.80M	$9.000M	$1.800M	$1.600M	$1.000M	$1.400M	$1.400M	$2.100M	$1.200M	$800.0K	$400.0K	$1.200M
YoY Change	18.26%	269.41%	980.23%	30.0%	-37.5%	-64.44%	-58.33%	20.0%	400.0%	12.5%	60.0%	-28.57%	0.0%	-33.33%	75.0%	50.0%	100.0%	-66.67%
Total Long-Term Assets	$340.0M	$429.0M	$523.0M	$119.2M	$132.0M	$138.4M	$147.9M	$157.0M	$172.8M	$161.7M	$155.1M	$96.50M	$60.20M	$43.80M	$27.40M	$20.80M	$14.20M	$9.800M	$10.70M
YoY Change	-20.74%	-17.98%	338.73%	-9.7%	-4.62%	-6.42%	-5.8%	-9.14%	6.86%	4.26%	60.73%	60.3%	37.44%	59.85%	31.73%	46.48%	44.9%	-8.41%
Total Assets	$557.4M	$615.1M	$725.6M	$371.0M	$354.9M	$371.0M	$339.0M	$315.6M	$299.4M	$297.9M	$271.7M	$237.6M	$198.9M	$141.8M	$115.8M	$78.80M	$49.00M	$28.80M	$25.80M
YoY Change
Accounts Payable	$8.663M	$3.808M	$13.50M	$3.800M	$3.500M	$9.100M	$8.800M	$6.900M	$6.300M	$11.00M	$11.60M	$17.30M	$16.30M	$9.400M	$6.800M	$4.900M	$2.500M	$1.500M	$1.100M
YoY Change	127.49%	-71.79%	255.18%	8.57%	-61.54%	3.41%	27.54%	9.52%	-42.73%	-5.17%	-32.95%	6.13%	73.4%	38.24%	38.78%	96.0%	66.67%	36.36%
Accrued Expenses	$41.39M	$43.08M	$39.66M	$29.00M	$24.30M	$16.90M	$13.40M	$14.10M	$14.10M	$13.40M	$17.90M	$12.00M	$14.50M	$9.300M	$8.000M	$7.100M	$4.300M	$3.200M	$1.800M
YoY Change	-3.94%	8.64%	36.74%	19.34%	43.79%	26.12%	-4.96%	0.0%	5.22%	-25.14%	49.17%	-17.24%	55.91%	16.25%	12.68%	65.12%	34.38%	77.78%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$111.0K	$107.0K	$8.750M															$0.00	$0.00
YoY Change	3.74%	-98.78%
Total Short-Term Liabilities	$73.99M	$70.76M	$83.68M	$55.10M	$45.30M	$44.30M	$43.40M	$42.20M	$46.30M	$48.30M	$54.30M	$55.10M	$56.70M	$37.60M	$29.00M	$21.60M	$13.40M	$8.500M	$9.400M
YoY Change	4.57%	-15.44%	51.87%	21.63%	2.26%	2.07%	2.84%	-8.86%	-4.14%	-11.05%	-1.45%	-2.82%	50.8%	29.66%	34.26%	61.19%	57.65%	-9.57%
Long-Term Debt	$94.68M	$93.26M	$151.8M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.900M	$0.00
YoY Change	1.52%	-38.55%															-100.0%
Other Long-Term Liabilities	$96.74M	$101.3M	$69.49M	$6.500M	$9.500M
YoY Change	-4.51%	45.79%	969.05%	-31.58%
Total Long-Term Liabilities	$191.4M	$194.6M	$221.3M	$6.500M	$9.500M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.900M	$0.00
YoY Change	-1.62%	-12.06%	3303.98%	-31.58%													-100.0%
Total Liabilities	$265.4M	$265.3M	$310.0M	$64.10M	$58.20M	$49.70M	$49.60M	$51.00M	$62.30M	$63.70M	$64.60M	$66.50M	$65.10M	$44.50M	$33.70M	$25.30M	$15.50M	$11.90M	$11.30M
YoY Change	0.03%	-14.41%	383.61%	10.14%	17.1%	0.2%	-2.75%	-18.14%	-2.2%	-1.39%	-2.86%	2.15%	46.29%	32.05%	33.2%	63.23%	30.25%	5.31%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Basic Shares Outstanding	18.11M shares	18.86M shares	18.09M shares	14.88M shares	16.09M shares	16.40M shares	16.24M shares	16.07M shares	16.68M shares	17.36M shares	17.66M shares	17.77K shares	17.88M shares	18.28M shares
Diluted Shares Outstanding	18.19M shares	18.91M shares	18.26M shares	15.05M shares	16.26M shares	16.63M shares	16.38M shares	16.21M shares	16.80M shares	17.54M shares	17.92M shares	18.04K shares	18.30M shares	18.84M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $373.02 Million

About AMERICAN PUBLIC EDUCATION INC

American Public Education, Inc. provides online and on-campus postsecondary education services. The company is headquartered in Charles Town, West Virginia and currently employs 2,393 full-time employees. The company went IPO on 2007-11-09. Its segments include APUS, RU and HCN. APUS segment provides online postsecondary education directed primarily at the needs of the military, military-affiliated, public service and service-minded communities through American Military University (AMU), and American Public University (APU). APUS serves about 90,000 adult learners worldwide via accessible and affordable higher education. RU segment provides nursing and health sciences-focused postsecondary education to over 13,500 students at its 22 campuses in six states and online. HCN segment offers pre-licensure nursing programs that are designed to prepare individuals for productive careers at its eight campuses (six in Ohio, one in Indiana, and one in Michigan).

Industry: Services-Educational Services Peers: 2U, LLC ASPEN GROUP, INC. PERDOCEO EDUCATION Corp Duolingo, Inc. EpicQuest Education Group International Ltd LINCOLN EDUCATIONAL SERVICES CORP Nerdy Inc. UNIVERSAL TECHNICAL INSTITUTE INC