Lincoln Educational Services LINC · USD
Consumer Discretionary · US listing · 🇺🇸 United States
22.00
+24.58%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$518.2m
FY2016FY2025
Net income
$20.0m
FY2016FY2025
Free cash flow
−$27.4m
FY2016FY2025
Shareholders' equity
$199.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $518.2m | $440.1m | $378.1m | $348.3m | $335.3m | $293.1m | $273.3m | $263.2m | $261.9m | $196.9m |
| Gross profit | $312.9m | $258.3m | $215.8m | $199.5m | $196.4m | $170.9m | $149.8m | $137.8m | $132.4m | $102.0m |
| Operating income | $29.9m | $15.2m | $33.4m | $16.3m | $49.3m | $14.7m | $5.2m | −$4.0m | −$4.7m | −$5.2m |
| Net income | $20.0m | $9.9m | $26.0m | $12.6m | $34.7m | $48.6m | $2.0m | −$6.5m | −$11.5m | −$28.3m |
| Diluted earnings per share | 0.64 | 0.32 | 0.84 | 0.48 | 1.38 | 1.96 | 0.08 | -0.27 | -0.47 | -1.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $493.2m | $436.6m | $345.2m | $291.6m | $295.3m | $245.2m | $194.8m | $146.0m | $155.2m | $163.2m |
| Cash and short-term investments | $28.5m | $59.3m | $76.0m | $60.8m | $83.3m | $38.0m | $23.6m | $17.6m | $14.6m | $21.1m |
| Total liabilities | $293.5m | $258.3m | $178.4m | $146.7m | $153.9m | $142.1m | $139.6m | $106.2m | $109.4m | $90.8m |
| Debt | $11.1m | $29.3m | $16.2m | — | — | $17.2m | $34.0m | $48.8m | $52.6m | $42.0m |
| Shareholders' equity | $199.7m | $178.3m | $166.8m | $144.9m | $141.4m | $103.0m | $55.1m | $39.9m | $45.8m | $72.4m |
| Shares outstanding | 31m | 31m | 31m | 26m | 25m | 25m | 25m | 25m | 25m | 24m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $59.2m | $29.3m | $25.6m | $882,000 | $27.4m | $23.5m | $988,000 | −$1.7m | −$11.3m | −$6.1m |
| Capital spending | −$86.6m | −$56.9m | −$40.7m | −$9.0m | −$7.5m | −$5.6m | −$5.4m | −$4.7m | −$4.8m | −$3.6m |
| Free cash flow | −$27.4m | −$27.6m | −$15.1m | −$8.1m | $19.9m | $17.9m | −$4.4m | −$6.4m | −$16.1m | −$9.7m |
| Dividends paid | — | — | −$199,000 | −$1.1m | −$1.2m | −$1.4m | −$1.4m | −$1.4m | −$1.4m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $142.6m | $144.0m | $142.9m | $141.4m | $116.5m | $117.5m | $119.4m | $114.4m |
| Gross profit | $82.9m | $85.6m | $89.0m | $84.1m | $69.7m | $70.1m | $74.3m | $66.4m |
| Operating income | $3.3m | $6.4m | $17.8m | $6.3m | $2.6m | $3.2m | $10.9m | $5.8m |
| Net income | $1.9m | $4.4m | $12.7m | $3.8m | $1.6m | $1.9m | $6.8m | $4.0m |
| Diluted earnings per share | 0.06 | 0.14 | 0.41 | 0.12 | 0.05 | 0.06 | 0.22 | 0.13 |
| Cash from operations | $22.0m | $4.0m | $43.0m | $23.0m | — | −$8.0m | $30.0m | $5.0m |
| Capital spending | −$14.0m | −$14.0m | −$18.0m | −$21.0m | −$26.0m | −$19.0m | −$24.0m | −$19.0m |
| Free cash flow | $8.0m | −$10.0m | $25.0m | $2.0m | — | −$27.0m | $6.0m | −$14.0m |
| Total assets | $529.8m | $486.7m | $493.2m | $466.9m | $447.3m | $427.4m | $436.6m | $404.0m |
| Cash and short-term investments | $44.2m | $16.7m | $28.5m | $13.5m | $16.7m | $28.7m | $59.3m | $54.0m |
| Debt | $11.7m | $15.9m | $11.1m | $18.5m | $23.7m | $9.8m | $9.5m | $10.3m |
| Shareholders' equity | $202.4m | $198.8m | $199.7m | $185.9m | $180.7m | $177.8m | $178.3m | $170.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.2% | 12.1% | 10.4% |
| Operating income | 22.5% | 15.3% | 44.0% |
| Net income | 16.5% | -16.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 59.6% | 58.6% | 58.5% | 56.5% |
| Operating margin | 4.7% | 5.6% | 6.9% | 4.3% |
| Net margin | 3.1% | 4.1% | 6.6% | 3.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 37.8 | 49.8 | 11.9 | 12.1 | 5.4 | 3.3 | 32.9 | -12.0 | -4.3 | -1.6 |
| Price to sales | 1.5 | 1.1 | 0.8 | 0.4 | 0.6 | 0.6 | 0.2 | 0.3 | 0.2 | 0.2 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 58% | 54% | 83% | -28% | 4% | 219% | -4% | 14% | -2% | -5% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Dec 2014.
| FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|
| Paid in the year | 0.25 | 0.28 | 0.28 | 0.57 | 0.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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