APEI (American Public Education, Inc.) Stock Financials & Earnings

APEIAmerican Public Education, Inc.

Mkt Cap$830M

Revenue (TTM)$655M

Net Income (TTM)$32M

EPS (TTM)$1.32

Free Cash Flow (TTM)$60M

Gross Margin54.2%

Op. Margin7.7%

Net Margin4.9%

FCF Margin9.2%

P/S Ratio (TTM)1.3x

P/E Ratio (TTM)26.0x

YoY Rev Growth+6.7%

Employees—

Earnings Reports

Next: Q4 2025 · Mar 12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 22	$152M	$80M	-$262K
Q1 23	$150M	$76M	-$5M
Q2 23	$147M	$72M	-$65M
Q3 23	$151M	$78M	$6M
Q4 23	$153M	$82M	$16M
Q1 24	$154M	$82M	$5M
Q2 24	$153M	$77M	$2M
Q3 24	$153M	$78M	$4M
Q4 24	$164M	$92M	$22M
Q1 25	$165M	$90M	$12M
Q2 25	$163M	$84M	$7M
Q3 25	$163M	$89M	$10M

Revenue Breakdown

Valuation

Operating Cash Flow

Capital Expenditures

CapEx

OpEx vs Revenue Growth (YoY)

Stock-Based Compensation

OpEx Breakdown

Revenue Segments

Quarter	Graduation Fees	Instructional Services, Net Of Grants And Scholarships	Other Fees	Textbook And Other Course Materials
Q4 22	$259K	$140M	$1M	$11M
Q1 23	$369K	$138M	$916K	$11M
Q2 23	$388K	$136M	$960K	$10M
Q3 23	$381K	$140M	$953K	$10M
Q4 23	$626K	$141M	$978K	$10M
Q1 24	$660K	$142M	$1M	$10M
Q2 24	$459K	$141M	$1M	$10M
Q3 24	$794K	$141M	$1M	$10M
Q1 25	$1M	$150M	$1M	$12M
Q2 25	$910K	$150M	$1M	$11M
Q3 25	$1M	$149M	$1M	$12M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$129M	$0	$129M
Q1 23	$109M	$0	$109M
Q2 23	$139M	$0	$139M
Q3 23	$128M	$0	$128M
Q4 23	$117M	$0	$117M
Q1 24	$153M	$0	$153M
Q2 24	$130M	$0	$130M
Q3 24	$162M	$0	$162M
Q4 24	$132M	$0	$132M
Q1 25	$162M	$0	$162M
Q2 25	$175M	$0	$175M
Q3 25	$191M	$0	$191M

Shares Outstanding

Revenue Per Employee

Revenue / Employee