Strategic Education (STRA) Financials

$88.37 -1.83 (-2.03%)

Closing price 04:00 PM Eastern

Extended Trading

$88.32 -0.05 (-0.06%)

As of 04:04 PM Eastern

Annual Income Statements for Strategic Education

This table shows Strategic Education's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	113	70	47
Consolidated Net Income / (Loss)	113	70	47
Net Income / (Loss) Continuing Operations	113	70	47
Total Pre-Tax Income	161	101	70
Total Operating Income	156	95	71
Total Gross Profit	1,220	1,133	1,065
Total Revenue	1,220	1,133	1,065
Operating Revenue	1,220	1,133	1,065
Total Cost of Revenue	0.00	0.00	0.00
Total Operating Expenses	1,064	1,038	995
Selling, General & Admin Expense	1,063	1,008	977
Amortization Expense	0.00	11	14
Restructuring Charge	1.65	18	3.23
Total Other Income / (Expense), net	5.80	5.41	-1.19
Other Income / (Expense), net	5.80	5.41	-1.19
Income Tax Expense	49	31	23
Basic Earnings per Share	$4.81	$2.98	$1.97
Weighted Average Basic Shares Outstanding	23.41M	23.40M	23.68M
Diluted Earnings per Share	$4.67	$2.91	$1.94
Weighted Average Diluted Shares Outstanding	24.14M	23.96M	24.00M
Weighted Average Basic & Diluted Shares Outstanding	24.50M	24.41M	24.40M
Cash Dividends to Common per Share	$2.40	$2.40	$2.40

This table shows Strategic Education's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	30	25	28	30	30	39	18	14	-2.03	18	6.09
Consolidated Net Income / (Loss)	30	25	28	30	30	39	18	14	-2.03	18	6.09
Net Income / (Loss) Continuing Operations	30	25	28	30	30	39	18	14	-2.03	18	6.09
Total Pre-Tax Income	42	38	39	42	43	55	26	20	-0.95	28	7.55
Total Operating Income	40	36	36	42	41	54	26	17	-1.35	28	7.81
Total Gross Profit	304	311	306	312	290	303	286	288	257	270	263
Total Revenue	304	311	306	312	290	303	286	288	257	270	263
Operating Revenue	304	311	306	312	290	303	286	288	257	270	263
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	264	275	270	270	249	248	260	271	258	242	255
Selling, General & Admin Expense	262	271	269	268	254	246	253	260	248	243	251
Restructuring Charge	1.91	4.41	0.76	2.00	-5.51	1.26	3.59	6.93	6.02	-3.83	0.88
Total Other Income / (Expense), net	2.21	1.87	2.26	-0.12	1.79	0.99	0.84	3.17	0.40	-0.06	-0.26
Other Income / (Expense), net	2.21	1.87	2.26	-0.12	1.79	0.99	0.84	3.17	0.40	-0.06	-0.26
Income Tax Expense	12	13	11	12	13	16	8.01	5.76	1.08	9.26	1.45
Basic Earnings per Share	$1.28	$1.08	$1.18	$1.28	$1.27	$1.67	$0.79	$0.61	($0.09)	$0.78	$0.26
Weighted Average Basic Shares Outstanding	23.32M	23.41M	23.42M	23.44M	23.39M	23.40M	23.37M	23.45M	23.43M	23.68M	23.55M
Diluted Earnings per Share	$1.24	$1.05	$1.15	$1.24	$1.23	$1.64	$0.77	$0.59	($0.09)	$0.77	$0.25
Weighted Average Diluted Shares Outstanding	24.07M	24.14M	24.17M	24.18M	24.06M	23.96M	23.87M	23.96M	23.43M	24.00M	23.90M
Weighted Average Basic & Diluted Shares Outstanding	24.16M	24.50M	24.57M	24.62M	24.61M	24.41M	24.42M	24.46M	24.59M	24.40M	24.45M
Cash Dividends to Common per Share	$0.60	-	$0.60	$0.60	$0.60	-	$0.60	$0.60	$0.60	-	$0.60

This table details how cash moves in and out of Strategic Education's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-35	-46	-52
Net Cash From Operating Activities	169	117	126
Net Cash From Continuing Operating Activities	169	117	126
Net Income / (Loss) Continuing Operations	113	70	47
Consolidated Net Income / (Loss)	113	70	47
Depreciation Expense	44	57	63
Amortization Expense	0.38	0.49	0.58
Non-Cash Adjustments To Reconcile Net Income	20	23	19
Changes in Operating Assets and Liabilities, net	-8.20	-33	-3.23
Net Cash From Investing Activities	-64	-49	-31
Net Cash From Continuing Investing Activities	-64	-49	-31
Purchase of Property, Plant & Equipment	-41	-37	-43
Acquisitions	-0.18	-0.53	-0.80
Purchase of Investments	-55	-27	-0.34
Sale of Property, Plant & Equipment	0.00	5.89	6.53
Sale and/or Maturity of Investments	31	10	6.42
Net Cash From Financing Activities	-137	-114	-142
Net Cash From Continuing Financing Activities	-137	-114	-142
Repayment of Debt	-63	-40	-40
Repurchase of Common Equity	-12	-10.00	-40
Payment of Dividends	-59	-59	-59
Other Financing Activities, net	-3.32	-4.83	-3.00
Effect of Exchange Rate Changes	-3.47	-0.50	-4.09

This table details how cash moves in and out of Strategic Education's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	9.93	-61	-36	6.26	56	0.48	-17	-21	-8.65	-51	2.05
Net Cash From Operating Activities	68	16	51	24	78	30	46	5.50	35	1.32	44
Net Cash From Continuing Operating Activities	68	16	51	24	78	30	46	5.50	35	1.32	44
Net Income / (Loss) Continuing Operations	30	25	28	30	30	39	18	14	-2.03	18	6.09
Consolidated Net Income / (Loss)	30	25	28	30	30	39	18	14	-2.03	18	6.09
Depreciation Expense	11	11	11	11	11	12	15	16	15	14	16
Amortization Expense	0.02	0.01	0.13	0.13	0.11	0.12	0.11	0.13	0.14	0.14	0.14
Non-Cash Adjustments To Reconcile Net Income	5.55	7.46	6.89	6.57	-0.84	4.53	4.08	4.75	9.28	1.51	5.68
Changes in Operating Assets and Liabilities, net	21	-28	5.92	-23	38	-26	9.11	-29	13	-33	16
Net Cash From Investing Activities	-1.70	-49	-8.96	-5.21	-1.00	-18	-6.71	-0.47	-23	-1.04	-9.51
Net Cash From Continuing Investing Activities	-1.70	-49	-8.96	-5.21	-1.00	-18	-6.71	-0.47	-23	-1.04	-9.51
Purchase of Property, Plant & Equipment	-10	-11	-9.42	-11	-9.19	-9.63	-9.52	-9.52	-8.27	-11	-9.82
Purchase of Investments	-26	-39	-6.52	-8.65	-0.03	-10	-0.16	0.17	-17	-0.11	-
Sale and/or Maturity of Investments	34	1.50	7.00	14	8.22	1.63	3.22	3.00	2.42	3.82	0.50
Net Cash From Financing Activities	-56	-23	-81	-15	-18	-15	-55	-25	-20	-58	-27
Net Cash From Continuing Financing Activities	-56	-23	-81	-15	-18	-15	-55	-25	-20	-58	-27
Repurchase of Common Equity	-32	-6.51	-5.00	-	-	-	-	-	-	-3.20	-12
Payment of Dividends	-15	-15	-15	-15	-15	-15	-15	-15	-15	-15	-15
Other Financing Activities, net	-9.27	0.20	-	0.17	-3.69	0.10	0.04	-	-4.96	-0.03	-0.09
Effect of Exchange Rate Changes	0.07	-4.96	2.03	1.77	-2.31	3.16	-1.73	-1.04	-0.89	6.64	-

This table presents Strategic Education's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	2,050	2,125	2,162
Total Current Assets	305	329	329
Cash & Equivalents	137	168	214
Short-Term Investments	47	40	9.16
Accounts Receivable	76	76	63
Other Current Assets	45	45	43
Plant, Property, & Equipment, net	111	119	133
Total Noncurrent Assets	1,634	1,678	1,700
Long-Term Investments	15	0.48	13
Goodwill	1,207	1,252	1,251
Intangible Assets	245	252	261
Other Noncurrent Operating Assets	167	174	175
Total Liabilities & Shareholders' Equity	2,050	2,125	2,162
Total Liabilities	387	473	526
Total Current Liabilities	216	210	210
Accounts Payable	102	91	91
Current Deferred Revenue	90	92	88
Current Deferred & Payable Income Tax Liabilities	2.93	2.20	6.99
Other Current Liabilities	22	24	24
Total Noncurrent Liabilities	171	263	316
Long-Term Debt	0.00	61	101
Noncurrent Deferred & Payable Income Tax Liabilities	28	28	35
Other Noncurrent Operating Liabilities	143	173	180
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,662	1,653	1,636
Total Preferred & Common Equity	1,662	1,653	1,636
Total Common Equity	1,662	1,653	1,636
Common Stock	1,533	1,518	1,511
Retained Earnings	218	169	160
Accumulated Other Comprehensive Income / (Loss)	-89	-34	-35

This table presents Strategic Education's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	2,074	2,188	2,178	2,155	2,114	2,142	2,166	2,215
Total Current Assets	328	384	399	390	351	351	357	403
Cash & Equivalents	144	196	230	222	168	181	203	263
Short-Term Investments	38	26	26	31	29	25	24	11
Accounts Receivable	90	106	90	83	97	82	72	82
Other Current Assets	55	56	53	54	49	52	54	47
Plant, Property, & Equipment, net	110	116	116	116	118	121	124	136
Total Noncurrent Assets	1,636	1,688	1,662	1,648	1,646	1,670	1,684	1,676
Long-Term Investments	15	0.00	0.00	0.00	1.91	8.61	13	15
Goodwill	1,210	1,261	1,241	1,230	1,228	1,238	1,243	1,226
Intangible Assets	245	252	249	249	250	253	257	260
Other Noncurrent Operating Assets	166	175	172	170	166	170	172	175
Total Liabilities & Shareholders' Equity	2,074	2,188	2,178	2,155	2,114	2,142	2,166	2,215
Total Liabilities	431	471	499	513	519	544	555	617
Total Current Liabilities	259	286	253	262	265	242	242	260
Accounts Payable	103	107	94	99	102	90	93	101
Current Deferred Revenue	127	154	134	129	140	129	123	132
Current Deferred & Payable Income Tax Liabilities	10	1.66	2.19	11	0.00	0.00	2.37	3.32
Other Current Liabilities	20	23	24	23	23	23	23	24
Total Noncurrent Liabilities	171	185	246	251	254	301	314	357
Noncurrent Deferred & Payable Income Tax Liabilities	31	26	28	30	28	31	36	34
Other Noncurrent Operating Liabilities	141	159	157	159	164	169	176	182
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,643	1,717	1,678	1,643	1,595	1,599	1,610	1,598
Total Preferred & Common Equity	1,643	1,717	1,678	1,643	1,595	1,599	1,610	1,598
Total Common Equity	1,643	1,717	1,678	1,643	1,595	1,599	1,610	1,598
Common Stock	1,503	1,530	1,526	1,520	1,513	1,509	1,512	1,508
Retained Earnings	225	210	199	184	144	140	143	157
Accumulated Other Comprehensive Income / (Loss)	-85	-23	-47	-61	-63	-51	-44	-66

This table displays calculated financial ratios and metrics derived from Strategic Education's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	7.68%	6.33%	-5.85%
EBITDA Growth	30.07%	18.95%	-26.22%
EBIT Growth	60.27%	44.79%	-9.18%
NOPAT Growth	64.48%	39.14%	-10.70%
Net Income Growth	61.46%	49.54%	-15.28%
EPS Growth	60.48%	50.00%	-14.91%
Operating Cash Flow Growth	44.58%	-7.09%	-30.18%
Free Cash Flow Firm Growth	142.29%	-39.78%	-36.05%
Invested Capital Growth	-2.77%	0.27%	-3.57%
Revenue Q/Q Growth	0.72%	2.98%	-0.20%
EBITDA Q/Q Growth	-8.24%	19.71%	-2.34%
EBIT Q/Q Growth	-9.69%	37.80%	-2.64%
NOPAT Q/Q Growth	-11.67%	43.35%	-4.46%
Net Income Q/Q Growth	-10.91%	42.46%	-6.70%
EPS Q/Q Growth	-11.22%	42.65%	-5.83%
Operating Cash Flow Q/Q Growth	-7.66%	32.35%	-12.52%
Free Cash Flow Firm Q/Q Growth	75.49%	56.81%	-19.66%
Invested Capital Q/Q Growth	-2.09%	3.28%	3.47%
Profitability Metrics	-	-	-
Gross Margin	100.00%	100.00%	100.00%
EBITDA Margin	16.90%	13.99%	12.51%
Operating Margin	12.76%	8.41%	6.64%
EBIT Margin	13.23%	8.89%	6.53%
Profit (Net Income) Margin	9.24%	6.16%	4.38%
Tax Burden Percent	69.80%	69.29%	67.08%
Interest Burden Percent	100.00%	100.00%	100.00%
Effective Tax Rate	30.20%	30.71%	32.92%
Return on Invested Capital (ROIC)	7.32%	4.39%	3.10%
ROIC Less NNEP Spread (ROIC-NNEP)	4.98%	1.74%	3.65%
Return on Net Nonoperating Assets (RNNOA)	-0.52%	-0.15%	-0.32%
Return on Equity (ROE)	6.80%	4.24%	2.79%
Cash Return on Invested Capital (CROIC)	10.13%	4.13%	6.74%
Operating Return on Assets (OROA)	7.73%	4.70%	3.11%
Return on Assets (ROA)	5.40%	3.26%	2.09%
Return on Common Equity (ROCE)	6.80%	4.24%	2.79%
Return on Equity Simple (ROE_SIMPLE)	6.78%	4.22%	2.85%
Net Operating Profit after Tax (NOPAT)	109	66	47
NOPAT Margin	8.90%	5.83%	4.46%
Net Nonoperating Expense Percent (NNEP)	2.34%	2.66%	-0.55%
Return On Investment Capital (ROIC_SIMPLE)	6.53%	3.85%	2.73%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	87.11%	89.00%	91.71%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	87.24%	91.59%	93.36%
Earnings before Interest and Taxes (EBIT)	161	101	70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	206	159	133
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.38	1.33	1.11
Price to Tangible Book Value (P/TBV)	10.90	14.79	14.66
Price to Revenue (P/Rev)	1.88	1.94	1.71
Price to Earnings (P/E)	20.37	31.57	38.94
Dividend Yield	2.57%	2.66%	3.23%
Earnings Yield	4.91%	3.17%	2.57%
Enterprise Value to Invested Capital (EV/IC)	1.43	1.37	1.12
Enterprise Value to Revenue (EV/Rev)	1.72	1.81	1.58
Enterprise Value to EBITDA (EV/EBITDA)	10.17	12.97	12.63
Enterprise Value to EBIT (EV/EBIT)	12.99	20.41	24.19
Enterprise Value to NOPAT (EV/NOPAT)	19.30	31.13	35.45
Enterprise Value to Operating Cash Flow (EV/OCF)	12.38	17.55	13.35
Enterprise Value to Free Cash Flow (EV/FCFF)	13.94	33.13	16.33
Leverage & Solvency	-	-	-
Debt to Equity	0.00	0.04	0.06
Long-Term Debt to Equity	0.00	0.04	0.06
Financial Leverage	-0.10	-0.09	-0.09
Leverage Ratio	1.26	1.30	1.33
Compound Leverage Factor	1.26	1.30	1.33
Debt to Total Capital	0.00%	3.58%	5.84%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	3.58%	5.84%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	96.42%	94.16%
Debt to EBITDA	0.00	0.39	0.76
Net Debt to EBITDA	0.00	-0.93	-1.01
Long-Term Debt to EBITDA	0.00	0.39	0.76
Debt to NOPAT	0.00	0.93	2.14
Net Debt to NOPAT	0.00	-2.23	-2.83
Long-Term Debt to NOPAT	0.00	0.93	2.14
Altman Z-Score	4.61	3.66	2.84
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.41	1.57	1.57
Quick Ratio	1.20	1.36	1.36
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	150	62	103
Operating Cash Flow to CapEx	417.28%	377.16%	343.98%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.58	0.53	0.48
Accounts Receivable Turnover	16.03	16.29	18.66
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	10.62	9.01	7.52
Accounts Payable Turnover	0.00	0.00	0.00
Days Sales Outstanding (DSO)	22.77	22.40	19.57
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	22.77	22.40	19.57
Capital & Investment Metrics	-	-	-
Invested Capital	1,463	1,505	1,501
Invested Capital Turnover	0.82	0.75	0.70
Increase / (Decrease) in Invested Capital	-42	3.99	-56
Enterprise Value (EV)	2,096	2,056	1,683
Market Capitalization	2,295	2,203	1,817
Book Value per Share	$67.67	$67.68	$66.89
Tangible Book Value per Share	$8.57	$6.10	$5.07
Total Capital	1,662	1,714	1,737
Total Debt	0.00	61	101
Total Long-Term Debt	0.00	61	101
Net Debt	-199	-147	-135
Capital Expenditures (CapEx)	41	31	37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-96	-89	-104
Debt-free Net Working Capital (DFNWC)	88	119	119
Net Working Capital (NWC)	88	119	119
Net Nonoperating Expense (NNE)	-4.05	-3.75	0.80
Net Nonoperating Obligations (NNO)	-199	-147	-135
Total Depreciation and Amortization (D&A)	45	58	64
Debt-free, Cash-free Net Working Capital to Revenue	-7.83%	-7.83%	-9.73%
Debt-free Net Working Capital to Revenue	7.25%	10.54%	11.18%
Net Working Capital to Revenue	7.25%	10.54%	11.18%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$4.81	$2.98	$1.97
Adjusted Weighted Average Basic Shares Outstanding	23.41M	23.40M	23.68M
Adjusted Diluted Earnings per Share	$4.67	$2.91	$1.94
Adjusted Weighted Average Diluted Shares Outstanding	24.14M	23.96M	24.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.50M	24.41M	24.40M
Normalized Net Operating Profit after Tax (NOPAT)	110	78	50
Normalized NOPAT Margin	9.00%	6.92%	4.66%
Pre Tax Income Margin	13.23%	8.89%	6.53%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	52.33%	84.22%	126.93%
Augmented Payout Ratio	62.55%	98.55%	212.89%

This table displays calculated financial ratios and metrics derived from Strategic Education's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.60%	2.89%	7.00%	8.55%	13.11%	12.14%	8.67%	5.16%	-0.87%	-0.79%	-2.58%
EBITDA Growth	-2.05%	-27.33%	20.03%	48.86%	292.54%	62.66%	76.03%	-9.67%	-51.77%	-7.12%	-13.87%
EBIT Growth	-2.65%	-31.38%	45.78%	109.13%	4,637.33%	100.15%	250.84%	-9.82%	-107.75%	-6.40%	37.18%
NOPAT Growth	-1.01%	-37.32%	46.15%	150.44%	3,114.63%	109.20%	183.52%	-20.25%	-112.26%	-10.38%	22.42%
Net Income Growth	0.14%	-35.25%	50.32%	110.09%	1,564.60%	113.48%	203.00%	-6.50%	-128.85%	-15.46%	58.07%
EPS Growth	0.81%	-35.98%	49.35%	110.17%	1,466.67%	112.99%	208.00%	-6.35%	-131.03%	-13.48%	56.25%
Operating Cash Flow Growth	-12.85%	-46.89%	10.89%	342.31%	120.28%	2,168.64%	5.40%	-77.18%	-37.73%	-93.18%	24.69%
Free Cash Flow Firm Growth	-29.02%	91.11%	-198.32%	2.69%	-38.99%	-53.43%	-86.60%	-64.55%	13.23%	-42.44%	114.43%
Invested Capital Growth	-0.32%	-2.77%	2.56%	-0.11%	-1.21%	0.27%	0.45%	-1.25%	-4.96%	-3.57%	-5.14%
Revenue Q/Q Growth	-2.53%	1.80%	-2.02%	7.59%	-4.11%	5.86%	-0.61%	12.11%	-4.94%	2.59%	-3.82%
EBITDA Q/Q Growth	8.07%	-0.57%	-6.70%	-2.29%	-19.82%	64.23%	15.71%	157.65%	-66.78%	77.73%	-40.63%
EBIT Q/Q Growth	10.86%	-1.81%	-7.68%	-3.13%	-21.86%	108.60%	32.43%	2,201.79%	-103.45%	265.66%	-65.96%
NOPAT Q/Q Growth	16.99%	-7.79%	-12.89%	5.34%	-25.91%	115.00%	49.26%	1,367.96%	-105.14%	191.38%	-58.02%
Net Income Q/Q Growth	17.40%	-8.69%	-7.19%	0.66%	-24.09%	111.98%	29.71%	801.73%	-111.06%	200.87%	-59.97%
EPS Q/Q Growth	18.10%	-8.70%	-7.26%	0.81%	-25.00%	112.99%	30.51%	755.56%	-111.69%	208.00%	-60.32%
Operating Cash Flow Q/Q Growth	325.38%	-69.11%	111.85%	-68.69%	159.23%	-35.51%	745.06%	-84.41%	2,569.85%	-97.00%	82.95%
Free Cash Flow Firm Q/Q Growth	-50.22%	688.45%	-135.38%	-31.52%	34.03%	202.73%	-63.05%	-59.32%	2.32%	-12.88%	-2.24%
Invested Capital Q/Q Growth	-1.22%	-2.09%	0.78%	2.27%	-3.65%	3.28%	-1.84%	1.15%	-2.22%	3.47%	-3.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	17.53%	15.81%	16.19%	17.00%	18.72%	22.39%	14.43%	12.40%	5.39%	15.43%	8.91%
Operating Margin	13.11%	11.57%	11.87%	13.43%	14.25%	17.91%	8.96%	5.85%	-0.53%	10.24%	2.97%
EBIT Margin	13.84%	12.17%	12.61%	13.39%	14.87%	18.24%	9.26%	6.95%	-0.37%	10.22%	2.87%
Profit (Net Income) Margin	9.80%	8.13%	9.07%	9.57%	10.23%	12.93%	6.46%	4.95%	-0.79%	6.79%	2.32%
Tax Burden Percent	70.81%	66.87%	71.90%	71.52%	68.83%	70.86%	69.73%	71.20%	213.25%	66.44%	80.74%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	29.19%	33.13%	28.10%	28.48%	31.17%	29.14%	30.27%	28.80%	0.00%	33.56%	19.26%
Return on Invested Capital (ROIC)	7.91%	6.36%	7.01%	7.71%	7.84%	9.57%	4.73%	3.00%	-0.26%	4.74%	1.72%
ROIC Less NNEP Spread (ROIC-NNEP)	7.10%	5.63%	6.10%	7.76%	7.10%	9.07%	4.32%	1.28%	0.41%	4.77%	1.85%
Return on Net Nonoperating Assets (RNNOA)	-0.84%	-0.59%	-0.66%	-0.73%	-0.73%	-0.78%	-0.39%	-0.10%	-0.04%	-0.42%	-0.18%
Return on Equity (ROE)	7.06%	5.77%	6.34%	6.98%	7.11%	8.79%	4.34%	2.90%	-0.30%	4.33%	1.54%
Cash Return on Invested Capital (CROIC)	7.80%	10.13%	5.80%	7.84%	7.84%	4.13%	2.72%	3.56%	7.57%	6.74%	8.61%
Operating Return on Assets (OROA)	8.07%	7.11%	7.10%	7.38%	8.03%	9.64%	4.71%	3.40%	-0.17%	4.88%	1.35%
Return on Assets (ROA)	5.71%	4.75%	5.11%	5.28%	5.53%	6.83%	3.28%	2.42%	-0.37%	3.24%	1.09%
Return on Common Equity (ROCE)	7.06%	5.77%	6.34%	6.98%	7.11%	8.79%	4.34%	2.90%	-0.30%	4.33%	1.54%
Return on Equity Simple (ROE_SIMPLE)	6.86%	0.00%	7.37%	6.98%	6.18%	0.00%	3.07%	2.29%	2.34%	0.00%	3.13%
Net Operating Profit after Tax (NOPAT)	28	24	26	30	28	38	18	12	-0.94	18	6.30
NOPAT Margin	9.28%	7.73%	8.54%	9.60%	9.81%	12.69%	6.25%	4.16%	-0.37%	6.80%	2.40%
Net Nonoperating Expense Percent (NNEP)	0.80%	0.72%	0.91%	-0.06%	0.74%	0.50%	0.41%	1.72%	-0.67%	-0.03%	-0.14%
Return On Investment Capital (ROIC_SIMPLE)	1.71%	1.45%	-	-	-	2.24%	-	-	-	1.06%	-
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	86.26%	87.02%	87.88%	85.94%	87.65%	81.31%	88.60%	90.55%	96.80%	89.92%	95.36%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	86.89%	88.43%	88.13%	86.57%	85.75%	82.09%	91.04%	94.15%	100.53%	89.76%	97.03%
Earnings before Interest and Taxes (EBIT)	42	38	39	42	43	55	26	20	-0.95	28	7.55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	53	49	50	53	54	68	41	36	14	42	23
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.25	1.38	1.33	1.62	1.54	1.33	1.13	1.02	1.32	1.11	0.90
Price to Tangible Book Value (P/TBV)	10.93	10.90	11.16	14.51	15.43	14.79	15.38	15.16	19.22	14.66	12.87
Price to Revenue (P/Rev)	1.67	1.88	1.88	2.29	2.17	1.94	1.63	1.51	2.00	1.71	1.35
Price to Earnings (P/E)	18.25	20.37	18.02	23.24	24.90	31.57	36.68	44.41	56.40	38.94	28.84
Dividend Yield	2.86%	2.57%	2.59%	2.17%	2.32%	2.66%	3.27%	3.63%	2.76%	3.23%	4.10%
Earnings Yield	5.48%	4.91%	5.55%	4.30%	4.02%	3.17%	2.73%	2.25%	1.77%	2.57%	3.47%
Enterprise Value to Invested Capital (EV/IC)	1.29	1.43	1.38	1.70	1.61	1.37	1.14	1.02	1.35	1.12	0.89
Enterprise Value to Revenue (EV/Rev)	1.51	1.72	1.70	2.12	2.00	1.81	1.51	1.40	1.86	1.58	1.21
Enterprise Value to EBITDA (EV/EBITDA)	9.07	10.17	9.15	11.68	11.74	12.97	12.53	13.20	16.74	12.63	9.49
Enterprise Value to EBIT (EV/EBIT)	11.60	12.99	11.51	15.17	16.13	20.41	22.70	27.93	35.18	24.19	18.13
Enterprise Value to NOPAT (EV/NOPAT)	17.16	19.30	16.72	22.04	24.14	31.13	36.02	43.94	53.07	35.45	26.07
Enterprise Value to Operating Cash Flow (EV/OCF)	11.67	12.38	11.22	14.18	14.64	17.55	18.75	17.57	18.94	13.35	8.99
Enterprise Value to Free Cash Flow (EV/FCFF)	16.47	13.94	24.00	21.73	20.41	33.13	41.93	28.42	17.40	16.33	10.10
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.04	0.04	0.04	0.04	0.06	0.06	0.06	0.09
Long-Term Debt to Equity	0.00	0.00	0.00	0.04	0.04	0.04	0.04	0.06	0.06	0.06	0.09
Financial Leverage	-0.12	-0.10	-0.11	-0.09	-0.10	-0.09	-0.09	-0.08	-0.10	-0.09	-0.10
Leverage Ratio	1.29	1.26	1.30	1.32	1.33	1.30	1.36	1.35	1.36	1.33	1.38
Compound Leverage Factor	1.29	1.26	1.30	1.32	1.33	1.30	1.36	1.35	1.36	1.33	1.38
Debt to Total Capital	0.00%	0.00%	0.00%	3.53%	3.60%	3.58%	3.70%	5.96%	5.92%	5.84%	8.12%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	3.53%	3.60%	3.58%	3.70%	5.96%	5.92%	5.84%	8.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	96.47%	96.40%	96.42%	96.30%	94.04%	94.08%	94.16%	91.88%
Debt to EBITDA	0.00	0.00	0.00	0.28	0.31	0.39	0.46	0.88	0.86	0.76	1.03
Net Debt to EBITDA	0.00	0.00	0.00	-0.90	-0.97	-0.93	-1.04	-0.99	-1.17	-1.01	-1.08
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.28	0.31	0.39	0.46	0.88	0.86	0.76	1.03
Debt to NOPAT	0.00	0.00	0.00	0.53	0.63	0.93	1.33	2.94	2.71	2.14	2.84
Net Debt to NOPAT	0.00	0.00	0.00	-1.70	-1.99	-2.23	-2.98	-3.31	-3.71	-2.83	-2.97
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.53	0.63	0.93	1.33	2.94	2.71	2.14	2.84
Altman Z-Score	3.72	4.41	3.70	4.09	3.76	3.59	2.78	2.48	2.94	2.78	2.07
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.27	1.41	1.34	1.57	1.49	1.57	1.32	1.45	1.48	1.57	1.55
Quick Ratio	1.05	1.20	1.15	1.36	1.29	1.36	1.11	1.19	1.24	1.36	1.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	33	66	-11	32	46	34	11	31	76	74	85
Operating Cash Flow to CapEx	655.71%	141.58%	546.73%	226.30%	844.91%	311.13%	487.57%	57.70%	426.14%	31.91%	448.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.58	0.56	0.55	0.54	0.53	0.51	0.49	0.47	0.48	0.47
Accounts Receivable Turnover	14.22	16.03	11.92	13.85	15.06	16.29	12.29	13.61	15.56	18.66	12.65
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.91	10.62	10.35	10.04	9.69	9.01	8.66	8.20	7.68	7.52	7.54
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	25.66	22.77	30.62	26.35	24.24	22.40	29.71	26.82	23.46	19.57	28.85
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	25.66	22.77	30.62	26.35	24.24	22.40	29.71	26.82	23.46	19.57	28.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,446	1,463	1,495	1,483	1,450	1,505	1,457	1,485	1,468	1,501	1,451
Invested Capital Turnover	0.85	0.82	0.82	0.80	0.80	0.75	0.76	0.72	0.71	0.70	0.72
Increase / (Decrease) in Invested Capital	-4.58	-42	37	-1.62	-18	3.99	6.50	-19	-77	-56	-79
Enterprise Value (EV)	1,860	2,096	2,057	2,528	2,336	2,056	1,660	1,513	1,983	1,683	1,295
Market Capitalization	2,057	2,295	2,279	2,723	2,528	2,203	1,797	1,627	2,121	1,817	1,443
Book Value per Share	$67.07	$67.67	$69.72	$68.19	$67.30	$67.68	$65.21	$65.01	$65.99	$66.89	$64.88
Tangible Book Value per Share	$7.68	$8.57	$8.29	$7.63	$6.71	$6.10	$4.78	$4.36	$4.52	$5.07	$4.55
Total Capital	1,643	1,662	1,717	1,739	1,704	1,714	1,656	1,700	1,712	1,737	1,740
Total Debt	0.00	0.00	0.00	61	61	61	61	101	101	101	141
Total Long-Term Debt	0.00	0.00	0.00	61	61	61	61	101	101	101	141
Net Debt	-198	-199	-222	-195	-192	-147	-137	-114	-139	-135	-148
Capital Expenditures (CapEx)	10	11	9.42	11	9.19	9.63	9.52	9.52	8.27	4.14	9.82
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-114	-96	-124	-111	-125	-89	-112	-98	-112	-104	-131
Debt-free Net Working Capital (DFNWC)	69	88	98	145	129	119	85	109	115	119	143
Net Working Capital (NWC)	69	88	98	145	129	119	85	109	115	119	143
Net Nonoperating Expense (NNE)	-1.57	-1.25	-1.63	0.09	-1.23	-0.70	-0.59	-2.26	1.08	0.04	0.21
Net Nonoperating Obligations (NNO)	-198	-199	-222	-195	-192	-147	-137	-114	-142	-135	-148
Total Depreciation and Amortization (D&A)	11	11	11	11	11	13	15	16	15	14	16
Debt-free, Cash-free Net Working Capital to Revenue	-9.23%	-7.83%	-10.27%	-9.30%	-10.70%	-7.83%	-10.14%	-9.07%	-10.53%	-9.73%	-12.30%
Debt-free Net Working Capital to Revenue	5.58%	7.25%	8.06%	12.21%	11.03%	10.54%	7.74%	10.10%	10.84%	11.18%	13.38%
Net Working Capital to Revenue	5.58%	7.25%	8.06%	12.21%	11.03%	10.54%	7.74%	10.10%	10.84%	11.18%	13.38%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.28	$1.08	$1.18	$1.28	$1.27	$1.67	$0.79	$0.61	($0.09)	$0.78	$0.26
Adjusted Weighted Average Basic Shares Outstanding	23.32M	23.41M	23.42M	23.44M	23.39M	23.40M	23.37M	23.45M	23.43M	23.68M	23.55M
Adjusted Diluted Earnings per Share	$1.24	$1.05	$1.15	$1.24	$1.23	$1.64	$0.77	$0.59	($0.09)	$0.77	$0.25
Adjusted Weighted Average Diluted Shares Outstanding	24.07M	24.14M	24.17M	24.18M	24.06M	23.96M	23.87M	23.96M	23.43M	24.00M	23.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.16M	24.50M	24.57M	24.62M	24.61M	24.41M	24.42M	24.46M	24.59M	24.40M	24.45M
Normalized Net Operating Profit after Tax (NOPAT)	30	27	27	31	25	39	20	17	3.27	16	7.01
Normalized NOPAT Margin	9.73%	8.68%	8.72%	10.06%	8.50%	12.99%	7.13%	5.88%	1.27%	5.86%	2.67%
Pre Tax Income Margin	13.84%	12.17%	12.61%	13.39%	14.87%	18.24%	9.26%	6.95%	-0.37%	10.22%	2.87%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	52.37%	52.33%	46.57%	50.19%	57.88%	84.22%	119.98%	160.61%	156.80%	126.93%	118.66%
Augmented Payout Ratio	90.99%	62.55%	50.53%	50.19%	57.88%	98.55%	146.92%	229.26%	156.80%	212.89%	192.46%

Frequently Asked Questions About Strategic Education's Financials

When does Strategic Education's fiscal year end?

According to the most recent income statement we have on file, Strategic Education's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Strategic Education's net income changed over the last 2 years?

Strategic Education's net income appears to be on an upward trend, with a most recent value of $112.68 million in 2024, rising from $46.67 million in 2022. The previous period was $69.79 million in 2023. View Strategic Education's forecast to see where analysts expect Strategic Education to go next.

What is Strategic Education's operating income?

Strategic Education's total operating income in 2024 was $155.63 million, based on the following breakdown:

Total Gross Profit: $1.22 billion
Total Operating Expenses: $1.06 billion

How has Strategic Education revenue changed over the last 2 years?

Over the last 2 years, Strategic Education's total revenue changed from $1.07 billion in 2022 to $1.22 billion in 2024, a change of 14.5%.

How much debt does Strategic Education have?

Strategic Education's total liabilities were at $387.24 million at the end of 2024, a 18.1% decrease from 2023, and a 26.4% decrease since 2022.

How much cash does Strategic Education have?

In the past 2 years, Strategic Education's cash and equivalents has ranged from $137.07 million in 2024 to $213.67 million in 2022, and is currently $137.07 million as of their latest financial filing in 2024.

How has Strategic Education's book value per share changed over the last 2 years?

Over the last 2 years, Strategic Education's book value per share changed from 66.89 in 2022 to 67.67 in 2024, a change of 1.2%.

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This page (NASDAQ:STRA) was last updated on 5/21/2025 by MarketBeat.com Staff

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Strategic Education (STRA) Financials

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Strategic Education (STRA) Financials

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