ATGE

MKT CAP:$4B

Adtalem Global Education Inc.

Market Cap

$4B

Consumer Defensive·Education & Training Services·🇺🇸 United States·NYSE

Consumer Def.·Education·🇺🇸·NYSE

Stock Price

$113.13+$8.66 (+8.29%)

Apr 13, 2026

Company Details

Adtalem Global Education Inc. provides workforce solutions worldwide. It operates through three segments, Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers degree and non-degree programs in the nursing and heal...

CEO

Stephen W. Beard

IPO Date

Jun 21, 1991

Website

www.adtalem.com

Key Metrics TTM

Revenue

$1.8B

— YoY

Net Income

$238M

EPS (Diluted)

$6.32

Free Cash Flow

$332M

Revenue / Share

$50.90

Gross Margin

57.9%

Operating Margin

18.9%

Net Margin

12.9%

FCF Margin

18.0%

P/S

2.1x

P/E

16.1x

Earnings Reports

Q2 2026

Jan 28, 2026

$503MEPS $2.10

FY 2025

Aug 7, 2025

$1.8BEPS $6.07

Q4 2025

Aug 7, 2025

$457MEPS $1.45

Q3 2025

May 8, 2025

$466MEPS $1.59

Q1 2025

Oct 29, 2024

$417MEPS $1.18

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 16	$474M	$221M	$61M
Q1 17	$450M	$199M	$33M
Q3 17	$452M	$213M	$47M
Q1 25	$417M	$231M	$70M
Q3 25	$466M	$266M	$91M
Q4 25	$457M	$272M	$77M
Q2 26	$503M	$298M	$111M

Valuation

Quarter	P/S	P/E
Q3 16	—	—
Q1 17	—	—
Q3 17	—	—
Q1 25	2.1x	23.4x
Q3 25	2.1x	22.2x
Q4 25	2.1x	19.0x
Q2 26	2.1x	16.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 16	$143M	$133M
Q1 17	$98M	$86M
Q3 17	$135M	$122M
Q1 25	$89M	$79M
Q3 25	$208M	$198M
Q4 25	$60M	$41M
Q2 26	$30M	$15M

Capital Expenditures

Quarter	CapEx
Q3 16	$10M
Q1 17	$11M
Q3 17	$12M
Q1 25	$10M
Q3 25	$10M
Q4 25	$19M
Q2 26	$15M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 25	-1.7%	-9.2%
Q4 25	+1.6%	-8.8%
Q2 26	+11.3%	-3.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 16	$4M	0.8%
Q1 17	$6M	1.3%
Q3 17	$4M	0.9%
Q1 25	$9M	2.3%
Q3 25	$10M	2.2%
Q4 25	$10M	2.3%
Q2 26	$13M	2.6%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q3 16	$161M	—	—
Q1 17	$79M	$24M	—
Q3 17	$78M	$25M	—
Q1 25	$159M	—	—
Q3 25	$175M	—	—
Q4 25	—	$247M	—
Q2 26	—	—	$183M

Revenue Segments

Quarter	Business Technology And Management	International K Twelve And Professional Education	Intersegment Revenues	Medical And Healthcare	Professional Education	Technology And Business	U.s. Traditional Postsecondary	Chamberlain	Medical and Veterinary	Walden University
Q3 16	$156M	$72M	-$747.0K	$247M	—	—	—	—	—	—
Q1 17	$121M	$93M	-$722.0K	$237M	—	—	—	—	—	—
Q3 17	—	—	—	$208M	$30M	$62M	$153M	—	—	—
Q1 25	—	—	—	—	—	—	—	$168M	$88M	$162M
Q3 25	—	—	—	—	—	—	—	$193M	$95M	$178M
Q4 25	—	—	—	—	—	—	—	$184M	$91M	$182M
Q2 26	—	—	—	—	—	—	—	$184M	$102M	$218M

Revenue by Geography

Quarter	Brazil	Domestic Operations	Dominica And S T Kitts Nevis	Barbados, St. Kitts, and St. Maarten
Q3 16	$48M	$337M	$88M	—
Q1 17	$58M	$302M	$88M	—
Q3 17	$62M	$306M	$83M	—
Q1 25	—	$329M	—	$88M
Q3 25	—	$371M	—	$95M
Q4 25	—	$366M	—	$91M
Q2 26	—	$401M	—	$102M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$789M	$0	$789M
Q4 22	$347M	$0	$347M
Q1 23	$328M	$0	$328M
Q2 23	$208M	$0	$208M
Q3 23	$315M	$0	$315M
Q4 23	$219M	$0	$219M
Q1 24	$265M	$0	$265M
Q2 24	$194M	$0	$194M
Q3 24	$219M	$0	$219M
Q4 24	$219M	$0	$219M
Q1 25	$265M	$0	$265M
Q2 25	$194M	$0	$194M
Q3 25	$219M	$0	$219M
Q4 25	$200M	$0	$200M
Q1 26	$265M	$0	$265M
Q2 26	$56M	$0	$56M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 16	64M	—	—
Q1 17	64M	-0.7%	—
Q3 17	64M	+0.6%	—
Q1 25	39M	-39.1%	—
Q3 25	38M	-2.2%	-40.6%
Q4 25	38M	-1.7%	-41.2%
Q2 26	36M	-3.6%	-43.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 16	$46.8K	10K
Q1 17	$44.7K	10K
Q3 17	$44.9K	10K
Q1 25	$90.3K	5K
Q3 25	$100.8K	5K
Q4 25	$97.2K	5K
Q2 26	$107.0K	5K

Revenue / Employee