LINCOLN EDUCATIONAL SERVICES CORP
LINCOLN EDUCATIONAL SERVICES CORP
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Financial Statements
Values in Millions ($) | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Financial statements beyond 3 years are for subscribers only. Unlock 17+ years of income statements, balance sheets, and cash flow statements Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 44 | 17 | 29 | 13 | 17 | 29 | 59 | 54 | 67 | 69 | 76 | 42 | |||||
Accounts Receivable Net Current | 46 | 42 | 37 | 51 | 47 | 47 | 43 | 53 | 44 | 40 | 36 | 40 | |||||
Short Term Investments | - | - | - | - | - | - | - | - | - | - | 0 | 24 | |||||
Restricted Cash Current | - | - | - | - | - | - | 0 | 0 | 0 | 1 | 4 | 4 | |||||
Inventory Net | 4 | 2 | 4 | 3 | 5 | 2 | 3 | 3 | 2 | 2 | 3 | 3 | |||||
Prepaid Taxes | - | - | - | - | 3 | - | - | - | - | - | - | - | |||||
Income Taxes Receivable | 2 | 1 | 2 | 1 | - | - | 0 | - | - | - | - | - | |||||
Prepaid Expense And Other Assets Current | 5 | 7 | 8 | 8 | 8 | 8 | 4 | 4 | 4 | 6 | 6 | 7 | |||||
Assets Held For Sale Not Part Of Disposal Group Cu… | - | - | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 10 | 10 | |||||
Assets Current | 106 | 76 | 87 | 77 | 80 | 86 | 111 | 115 | 119 | 119 | 135 | 131 | |||||
Property Plant And Equipment Net | 191 | 179 | 172 | 160 | 149 | 126 | 104 | 75 | 59 | 52 | 51 | 38 | |||||
Other Assets | |||||||||||||||||
Assets Noncurrent | |||||||||||||||||
Accounts Receivable Net Noncurrent | 22 | 21 | 21 | 23 | 21 | 17 | 20 | 20 | 17 | 17 | 18 | 17 | |||||
Deferred Finance Costs Net | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |||||
Deferred Income Tax Assets Net | 22 | 22 | 22 | 25 | 25 | 25 | 25 | 23 | 23 | 23 | 23 | 25 | |||||
Operating Lease Right Of Use Asset | 152 | 151 | 154 | 142 | 133 | 133 | 136 | 130 | 107 | 103 | 90 | 93 | |||||
Finance Lease Right Of Use Asset | - | 25 | 25 | 25 | 26 | 26 | 27 | 27 | 28 | 28 | 16 | - | |||||
Goodwill | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | |||||
Defined Benefit Plan Assets For Plan Benefits Nonc… | - | - | 0 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | - | |||||
Other Assets Noncurrent | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | |||||
Assets Noncurrent Other Than Noncurrent Investment… | 233 | 231 | 235 | 229 | 219 | 215 | 222 | 213 | 187 | 184 | 160 | 147 | |||||
Assets | 530 | 487 | 493 | 467 | 447 | 427 | 437 | 404 | 366 | 355 | 345 | 316 | |||||
Liabilities Current | |||||||||||||||||
Contract With Customer Liability Current | 52 | 39 | 44 | 33 | 28 | 29 | 31 | 23 | 24 | 22 | 27 | 22 | |||||
Accounts Payable Current | 31 | 28 | 27 | 35 | 34 | 34 | 37 | 28 | 19 | 14 | 18 | 18 | |||||
Accrued Liabilities Current | 17 | 14 | 18 | 17 | 15 | 9 | 12 | 12 | 12 | 9 | 14 | 13 | |||||
Accrued Income Taxes Current | - | - | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 2 | 3 | 3 | |||||
Operating Lease Liability Current | 11 | 10 | 11 | 10 | 11 | 10 | 9 | 10 | 12 | 12 | 12 | 11 | |||||
Finance Lease Liability Current | - | 0 | 0 | 0 | - | - | 0 | 0 | 0 | 0 | 0 | - | |||||
Liabilities Current | 111 | 92 | 101 | 96 | 88 | 83 | 90 | 73 | 67 | 60 | 73 | 66 | |||||
Liabilities Noncurrent | |||||||||||||||||
Defined Benefit Pension Plan Liabilities Noncurren… | - | - | - | - | - | - | - | - | - | - | 0 | 1 | |||||
Other Liabilities Current | - | - | - | - | - | - | 0 | - | - | - | 0 | 0 | |||||
Operating Lease Liability Noncurrent | 160 | 160 | 162 | 146 | 134 | 136 | 139 | 131 | 106 | 102 | 89 | 92 | |||||
Finance Lease Liability Noncurrent | - | 31 | 31 | 31 | 31 | 30 | 29 | 29 | 29 | 29 | 16 | - | |||||
Other Liabilities Noncurrent | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |||||
Long Term Debt Noncurrent | 26 | 5 | - | 8 | 13 | - | - | - | - | - | - | - | |||||
Liabilities | 327 | 288 | 293 | 281 | 267 | 250 | 258 | 234 | 202 | 191 | 178 | 159 | |||||
Stockholders Equity | |||||||||||||||||
Common Stock Value Outstanding | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | |||||
Additional Paid In Capital | 49 | 47 | 52 | 51 | 50 | 48 | 51 | 49 | 48 | 47 | 49 | 48 | |||||
Retained Earnings Accumulated Deficit | 105 | 104 | 99 | 86 | 83 | 81 | 79 | 72 | 68 | 69 | 69 | 62 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | - | - | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -1 | |||||
Stockholders Equity | 202 | 199 | 200 | 186 | 181 | 178 | 178 | 170 | 165 | 164 | 167 | 157 | |||||
Liabilities And Stockholders Equity | 530 | 487 | 493 | 467 | 447 | 427 | 437 | 404 | 366 | 355 | 345 | 316 | |||||
Allowance For Doubtful Accounts Receivable Current | 41 | 45 | 44 | 48 | 43 | 51 | 43 | 40 | 39 | 37 | 34 | 35 | |||||
Accumulated Depreciation Depletion And Amortizatio… | 161 | 155 | 148 | 150 | 145 | 144 | 141 | 141 | 143 | 142 | 140 | 140 | |||||
Allowance For Doubtful Accounts Receivable Noncurr… | 27 | 26 | 26 | 27 | 25 | 20 | 23 | 22 | 19 | 19 | 19 | 17 | |||||
Common Stock No Par Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Assets | |||||||||||||||||
Common Stock Shares Authorized | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | |||||
Common Stock Shares Issued | 32 | 32 | 32 | 32 | 32 | 32 | 31 | 31 | 31 | 31 | 31 | 31 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Temporary Equity | |||||||||||||||||
Shares Outstanding | 32 | 32 | 32 | 32 | 32 | 32 | 31 | 31 | 31 | 31 | 31 | 31 | |||||
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Interactive Financial Visualizations
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -3.05% | 5.72% | -15.52% | - | - | - | - | - | - | - | - | - |
| 2025 | 8.11% | 7.79% | 8.07% | -3.92% | 12.54% | -3.72% | 10.96% | 16.09% | 32.77% | 11.08% | 6.19% | 31.41% |
| 2024 | -4.17% | -3.03% | 16.93% | 2.22% | -1.64% | 1.97% | -3.73% | -8.88% | -3.43% | -11.34% | -1.92% | 24.27% |
| 2023 | - | - | - | - | - | - | 0.53% | 5.68% | -2.21% | 4.87% | 2.64% | 20.20% |
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Performance and Valuation Metrics
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Metrics | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Metric history beyond 3 years is for subscribers only. Unlock 17+ years of history across 90+ calculated metrics Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.96 | 0.83 | 0.86 | 0.81 | 0.90 | 1.04 | 1.23 | 1.57 | 1.78 | 1.98 | 1.83 | 1.98 | |||||
| Quick Ratio | 0.88 | 0.73 | 0.75 | 0.69 | 0.76 | 0.91 | 1.15 | 1.49 | 1.69 | 1.84 | 1.72 | 1.83 | |||||
| Working Capital | -4.70M | -15.90M | -13.68M | -18.55M | -8.62M | 3.28M | 21.04M | 41.98M | 52.50M | 58.87M | 61.25M | 64.58M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 1.62 | 1.45 | 1.47 | 1.51 | 1.48 | 1.40 | 1.45 | 1.38 | 1.22 | 1.16 | 1.07 | 1.01 | |||||
| Interest Coverage TTM | 8.94 | 9.44 | 8.93 | 7.40 | 8.10 | 7.06 | 5.92 | 6.10 | 6.14 | 38.26 | 96.13 | 297.69 | |||||
| Debt Ratio | 0.62 | 0.59 | 0.60 | 0.60 | 0.60 | 0.58 | 0.59 | 0.58 | 0.55 | 0.54 | 0.52 | 0.50 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 1.17 | 1.19 | 1.11 | 1.14 | 1.15 | 1.16 | 1.13 | 1.18 | 1.21 | 1.24 | 1.19 | 1.21 | |||||
| Days Sales Outstanding TTM | 29.78 | 29.82 | 28.14 | 38.46 | 35.44 | 35.26 | 32.63 | 40.27 | 33.80 | 34.88 | 35.17 | 35.85 | |||||
| Receivables Turnover TTM | 12.26 | 12.24 | 12.97 | 9.49 | 10.30 | 10.35 | 11.19 | 9.06 | 10.80 | 10.46 | 10.38 | 10.18 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 0.73 | 0.72 | 0.64 | 0.45 | 0.46 | 0.39 | 0.32 | 0.32 | 0.26 | 0.85 | 0.85 | 0.90 | |||||
| Free Cash Flow Per Share TTM | 0.78 | -0.29 | -0.88 | -1.51 | -2.02 | -1.27 | -0.90 | -0.75 | -1.11 | -0.93 | -0.50 | -0.89 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 59.84% | 60.28% | 60.37% | 60.26% | 59.94% | 59.02% | 58.70% | 58.02% | 57.71% | 57.58% | 57.08% | 57.05% | |||||
| Operating Profit Margin TTM | 5.91% | 6.11% | 5.85% | 4.75% | 4.93% | 4.19% | 3.45% | 3.12% | 2.30% | 8.63% | 8.82% | 9.73% | |||||
| Net Profit Margin TTM | 3.99% | 4.11% | 3.86% | 2.86% | 3.05% | 2.65% | 2.25% | 2.33% | 1.95% | 6.57% | 6.88% | 7.56% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 22.02% | 19.92% | 17.76% | 16.90% | 14.53% | 15.24% | 16.40% | 15.21% | 13.60% | 11.65% | 8.55% | 6.68% | |||||
| Net Income Growth (1Y) | 59.62% | 85.99% | 102.18% | 43.48% | 79.46% | -53.46% | -61.95% | -64.53% | -72.78% | 111.31% | 105.77% | -0.98% | |||||
| EPS Growth (1Y) | 58.26% | 84.07% | 99.82% | 42.00% | 77.55% | -54.23% | -62.54% | -65.12% | -73.24% | 109.48% | 76.89% | -16.68% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 68.41 | 56.51 | 37.37 | 51.55 | 50.01 | 40.58 | 48.91 | 37.20 | 45.68 | 12.09 | 11.63 | 9.18 | |||||
| P/B TTM | 7.71 | 6.37 | 3.74 | 3.92 | 3.95 | 2.75 | 2.71 | 2.16 | 2.21 | 1.90 | 1.81 | 1.62 | |||||
| P/S TTM | 2.73 | 2.32 | 1.44 | 1.47 | 1.53 | 1.08 | 1.10 | 0.87 | 0.89 | 0.79 | 0.80 | 0.69 | |||||
| Market Cap | 1.56B | 1.27B | 747.25M | 728.50M | 714.33M | 488.94M | 483.78M | 366.34M | 363.63M | 313.01M | 302.26M | 254.88M | |||||
| Enterprise Value | 1.54B | 1.26B | 749.85M | 723.45M | 710.63M | 490.66M | 453.76M | 341.74M | 325.34M | 272.05M | 238.18M | 208.89M | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 24.53M | -9.12M | -27.32M | -46.80M | -62.59M | -39.21M | -27.56M | -23.16M | -33.97M | -28.30M | -15.14M | -26.74M | |||||
| Net Debt | -18.18M | -11.19M | 2.60M | -5.05M | -3.70M | 1.71M | -30.01M | -24.60M | -38.29M | -40.97M | -64.07M | -45.99M | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
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| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
| NCAV | |||||||||||||||||
| NCAV Per Share TTM | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
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| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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Institutional Ownership
LINCOLN EDUCATIONAL SERVICES CORP (LINC) — SEC Financial Statements & Analysis
LINCOLN EDUCATIONAL SERVICES CORP (LINC) is a services-educational services company, incorporated in NJ. LINCOLN EDUCATIONAL SERVICES CORP trades on Nasdaq as: LINC. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), LINCOLN EDUCATIONAL SERVICES CORP reported a 22.02% year-over-year revenue growth, a Gross Profit Margin of 59.84% (TTM), a Debt-to-Equity ratio of 1.62x, a Price-to-Sales (P/S) ratio of 2.73x (TTM), a Price-to-Book (P/B) ratio of 7.71x (TTM), at a market cap of $1.56B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 22.02%
- Gross Profit Margin TTM
- 59.84%
- Debt To Equity
- 1.62x
- P/S TTM
- 2.73x
- P/B TTM
- 7.71x
- Market Cap
- $1.56B
Data as of 2026-06-30 · Source: SEC EDGAR
Frequently Asked Questions
What industry is LINCOLN EDUCATIONAL SERVICES CORP in?
LINCOLN EDUCATIONAL SERVICES CORP (LINC) operates in the Services-Educational Services industry.
What is LINC's market cap?
LINCOLN EDUCATIONAL SERVICES CORP (LINC) has a market capitalization of $1.56B as of 2026-06-30.
What is LINC's P/E ratio?
LINCOLN EDUCATIONAL SERVICES CORP (LINC)'s trailing twelve month P/E ratio is 68.41x as of 2026-06-30.
What exchange does LINC trade on?
LINCOLN EDUCATIONAL SERVICES CORP (LINC) trades on the Nasdaq.
Where is LINCOLN EDUCATIONAL SERVICES CORP incorporated?
LINCOLN EDUCATIONAL SERVICES CORP is incorporated in NJ.