Free Trial

Strategic Education (STRA) Financials

Strategic Education logo
$79.60 +0.86 (+1.09%)
As of 03:27 PM Eastern
This is a fair market value price provided by Massive. Learn more.
Annual Income Statements for Strategic Education

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
40 35 21 -16 81 86 55 47 70 113 127
Consolidated Net Income / (Loss)
40 35 21 -16 81 86 55 47 70 113 127
Net Income / (Loss) Continuing Operations
40 35 21 -16 81 86 55 47 70 113 127
Total Pre-Tax Income
66 57 53 -19 124 114 77 70 101 161 177
Total Operating Income
70 57 52 -23 111 109 74 71 95 156 174
Total Gross Profit
200 441 455 634 997 1,028 1,132 1,065 1,133 1,220 1,268
Total Revenue
434 441 455 634 997 1,028 1,132 1,065 1,133 1,220 1,268
Operating Revenue
434 441 455 634 997 1,028 1,132 1,065 1,133 1,220 1,268
Total Cost of Revenue
234 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses
131 384 403 657 887 918 1,058 995 1,038 1,064 1,094
Selling, General & Admin Expense
44 290 398 566 803 828 970 977 1,008 1,063 1,072
Amortization Expense
- 0.00 0.00 26 62 64 51 14 11 0.00 0.00
Restructuring Charge
- 0.00 12 46 22 26 37 3.23 18 1.65 22
Total Other Income / (Expense), net
-3.57 -0.18 0.44 3.60 13 4.57 2.69 -1.19 5.41 5.80 3.16
Other Income / (Expense), net
- -0.18 0.44 3.60 13 4.57 2.69 -1.19 5.41 5.80 3.16
Income Tax Expense
26 22 32 -3.47 43 28 22 23 31 49 51
Basic Earnings per Share
$3.78 $3.28 $1.93 ($1.03) $3.73 $3.81 $2.30 $1.97 $2.98 $4.81 $5.57
Weighted Average Basic Shares Outstanding
10.59M 10.61M 10.68M 15.19M 21.73M 22.63M 23.96M 23.68M 23.40M 23.41M 22.75M
Diluted Earnings per Share
$3.73 $3.21 $1.84 ($1.03) $3.67 $3.77 $2.28 $1.94 $2.91 $4.67 $5.41
Weighted Average Diluted Shares Outstanding
10.74M 10.85M 11.20M 15.19M 22.10M 22.86M 24.12M 24.00M 23.96M 24.14M 23.40M
Weighted Average Basic & Diluted Shares Outstanding
10.60M 10.60M 10.70M 15.20M 21.97M 24.41M 24.59M 24.40M 24.41M 24.50M 22.73M
Cash Dividends to Common per Share
- $0.00 $1.00 $1.50 $2.10 $2.40 $2.40 $2.40 $2.40 $2.40 $2.40

Quarterly Income Statements for Strategic Education

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders
18 39 30 30 28 25 30 32 27 38 33
Consolidated Net Income / (Loss)
18 39 30 30 28 25 30 32 27 38 33
Net Income / (Loss) Continuing Operations
18 39 30 30 28 25 30 32 27 38 33
Total Pre-Tax Income
26 55 43 42 39 38 42 45 37 53 42
Total Operating Income
26 54 41 42 36 36 40 46 37 52 41
Total Gross Profit
286 303 290 312 306 311 304 321 320 323 306
Total Revenue
286 303 290 312 306 311 304 321 320 323 306
Operating Revenue
286 303 290 312 306 311 304 321 320 323 306
Total Cost of Revenue
0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses
260 248 249 270 270 275 264 276 283 272 265
Selling, General & Admin Expense
253 246 254 268 269 271 262 273 269 269 263
Restructuring Charge
3.59 1.26 -5.51 2.00 0.76 4.41 1.91 2.78 14 2.96 2.10
Total Other Income / (Expense), net
0.84 0.99 1.79 -0.12 2.26 1.87 2.21 -0.32 -0.27 1.54 1.21
Other Income / (Expense), net
0.84 0.99 1.79 -0.12 2.26 1.87 2.21 -0.32 -0.27 1.54 1.21
Income Tax Expense
8.01 16 13 12 11 13 12 13 10 15 9.48
Basic Earnings per Share
$0.79 $1.67 $1.27 $1.28 $1.18 $1.08 $1.28 $1.41 $1.18 $1.70 $1.52
Weighted Average Basic Shares Outstanding
23.37M 23.40M 23.39M 23.44M 23.42M 23.41M 23.32M 22.91M 22.58M 22.75M 21.62M
Diluted Earnings per Share
$0.77 $1.64 $1.23 $1.24 $1.15 $1.05 $1.24 $1.37 $1.15 $1.65 $1.48
Weighted Average Diluted Shares Outstanding
23.87M 23.96M 24.06M 24.18M 24.17M 24.14M 24.07M 23.52M 23.21M 23.40M 22.17M
Weighted Average Basic & Diluted Shares Outstanding
24.42M 24.41M 24.61M 24.62M 24.57M 24.50M 24.16M 23.90M 23.49M 22.73M 22.61M
Cash Dividends to Common per Share
$0.60 - $0.60 $0.60 $0.60 - $0.60 $0.60 $0.60 - $0.60

Annual Cash Flow Statements for Strategic Education

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
-55 22 27 156 108 -218 77 -52 -46 -35 2.86
Net Cash From Operating Activities
78 45 56 47 202 143 181 126 117 169 198
Net Cash From Continuing Operating Activities
78 45 56 47 202 143 181 126 117 169 198
Net Income / (Loss) Continuing Operations
40 35 21 -16 81 86 55 47 70 113 127
Consolidated Net Income / (Loss)
40 35 21 -16 81 86 55 47 70 113 127
Depreciation Expense
18 18 19 55 105 109 103 63 57 44 48
Amortization Expense
0.60 -1.46 0.13 0.59 0.63 0.61 0.62 0.58 0.49 0.38 -0.01
Non-Cash Adjustments To Reconcile Net Income
10 7.55 4.12 35 10 15 35 19 23 20 25
Changes in Operating Assets and Liabilities, net
8.60 -14 13 -28 5.35 -69 -14 -3.23 -33 -8.20 -2.26
Net Cash From Investing Activities
-13 -21 -18 130 -38 -642 -33 -31 -49 -64 8.51
Net Cash From Continuing Investing Activities
-13 -21 -18 130 -38 -642 -33 -31 -49 -64 8.51
Purchase of Property, Plant & Equipment
-13 -13 -18 -28 -39 -47 -49 -43 -37 -41 -44
Acquisitions
- -7.64 0.00 - 0.00 -629 0.00 -0.80 -0.53 -0.18 -0.04
Purchase of Investments
- 0.00 0.00 -27 -43 -2.81 -1.29 -0.34 -27 -55 -28
Sale of Property, Plant & Equipment
- - - - 0.00 0.00 8.33 6.53 5.89 0.00 2.20
Sale and/or Maturity of Investments
- 0.00 0.00 16 44 36 9.30 6.42 10 31 79
Net Cash From Financing Activities
-120 -1.36 -11 -21 -56 279 -68 -142 -114 -137 -206
Net Cash From Continuing Financing Activities
-120 -1.36 -11 -21 -56 279 -68 -142 -114 -137 -206
Repayment of Debt
-120 0.00 0.00 -1.16 0.00 -5.75 0.00 -40 -40 -63 0.00
Repurchase of Common Equity
- - - 0.00 0.00 -0.25 -5.91 -40 -10.00 -12 -139
Payment of Dividends
- 0.00 -11 -28 -47 -56 -59 -59 -59 -59 -58
Other Financing Activities, net
-0.65 -1.36 0.00 7.79 -9.20 -25 -2.94 -3.00 -4.83 -3.32 -9.72
Effect of Exchange Rate Changes
- - - - - 1.62 - -4.09 -0.50 -3.47 2.31

Quarterly Cash Flow Statements for Strategic Education

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents
-17 0.48 56 6.26 -36 -61 9.93 -12 16 -11 11
Net Cash From Operating Activities
46 30 78 24 51 16 68 31 60 39 87
Net Cash From Continuing Operating Activities
46 30 78 24 51 16 68 31 60 39 87
Net Income / (Loss) Continuing Operations
18 39 30 30 28 25 30 32 27 38 33
Consolidated Net Income / (Loss)
18 39 30 30 28 25 30 32 27 38 33
Depreciation Expense
15 12 11 11 11 11 11 12 12 13 11
Amortization Expense
0.11 0.12 0.11 0.13 0.13 0.01 0.02 0.05 -0.17 0.09 0.10
Non-Cash Adjustments To Reconcile Net Income
4.08 4.53 -0.84 6.57 6.89 7.46 5.55 6.58 9.75 3.56 5.62
Changes in Operating Assets and Liabilities, net
9.11 -26 38 -23 5.92 -28 21 -20 12 -16 38
Net Cash From Investing Activities
-6.71 -18 -1.00 -5.21 -8.96 -49 -1.70 -2.93 4.09 9.05 -10
Net Cash From Continuing Investing Activities
-6.71 -18 -1.00 -5.21 -8.96 -49 -1.70 -2.93 4.09 9.05 -10
Purchase of Property, Plant & Equipment
-9.52 -9.63 -9.19 -11 -9.42 -11 -10 -11 -11 -12 -10
Purchase of Investments
-0.16 -10 -0.03 -8.65 -6.52 -39 -26 -0.31 -0.03 -2.42 -0.14
Sale and/or Maturity of Investments
3.22 1.63 8.22 14 7.00 1.50 34 8.23 15 22 0.03
Net Cash From Financing Activities
-55 -15 -18 -15 -81 -23 -56 -42 -49 -59 -66
Net Cash From Continuing Financing Activities
-55 -15 -18 -15 -81 -23 -56 -42 -49 -59 -66
Repurchase of Common Equity
- - 0.00 - -5.00 -6.51 -32 -28 -34 -45 -40
Payment of Dividends
-15 -15 -15 -15 -15 -15 -15 -14 -14 -14 -14
Other Financing Activities, net
0.04 0.10 -3.69 0.17 - 0.20 -9.27 0.09 -0.54 - -13
Effect of Exchange Rate Changes
-1.73 3.16 -2.31 1.77 2.03 -4.96 0.07 2.45 0.30 -0.51 0.19

Annual Balance Sheets for Strategic Education

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets
248 299 321 1,661 1,789 2,296 2,306 2,162 2,125 2,050 2,039
Total Current Assets
132 161 190 420 524 286 368 329 329 305 278
Cash & Equivalents
107 129 156 312 420 188 269 214 168 137 141
Short-Term Investments
- - 0.00 37 35 7.56 6.50 9.16 40 47 7.30
Accounts Receivable
19 21 23 56 52 50 51 63 76 76 78
Current Deferred & Refundable Income Taxes
- - - - 0.00 1.43 0.31 - - 0.00 2.51
Other Current Assets
6.94 11 11 16 18 39 41 43 45 45 49
Plant, Property, & Equipment, net
77 73 74 123 117 159 151 133 119 111 107
Total Noncurrent Assets
39 65 57 1,118 1,148 1,851 1,788 1,700 1,678 1,634 1,653
Long-Term Investments
- - 0.00 38 37 30 23 13 0.48 15 5.00
Goodwill
6.80 21 21 733 732 1,319 1,286 1,251 1,252 1,207 1,242
Intangible Assets
- - 7.26 328 273 326 276 261 252 245 249
Other Noncurrent Operating Assets
5.69 13 4.71 19 107 176 202 175 174 167 157
Total Liabilities & Shareholders' Equity
248 299 321 1,661 1,789 2,296 2,306 2,162 2,125 2,050 2,039
Total Liabilities
106 110 112 236 327 547 592 526 473 387 392
Total Current Liabilities
58 60 69 125 157 200 196 210 210 216 218
Accounts Payable
42 41 46 86 91 105 96 91 91 102 106
Current Deferred Revenue
12 17 22 39 39 61 73 88 92 90 96
Current Deferred & Payable Income Tax Liabilities
2.68 1.88 1.04 0.42 1.35 - 0.00 6.99 2.20 2.93 0.00
Other Current Liabilities
0.28 0.13 - 0.00 25 35 27 24 24 22 16
Total Noncurrent Liabilities
48 50 43 111 170 347 396 316 263 171 174
Noncurrent Deferred & Payable Income Tax Liabilities
- - 0.00 59 48 53 45 35 28 28 36
Other Noncurrent Operating Liabilities
- - - 0.00 122 152 210 180 173 143 138
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
143 188 209 1,425 1,463 1,748 1,714 1,636 1,653 1,662 1,646
Total Preferred & Common Equity
143 188 209 1,425 1,463 1,748 1,714 1,636 1,653 1,662 1,646
Total Common Equity
143 188 209 1,425 1,463 1,748 1,714 1,636 1,653 1,662 1,646
Common Stock
25 36 47 1,307 1,310 1,520 1,530 1,511 1,518 1,533 1,437
Retained Earnings
118 153 162 118 153 180 175 160 169 218 255
Accumulated Other Comprehensive Income / (Loss)
- - 0.00 0.03 0.23 49 9.20 -35 -34 -89 -46

Quarterly Balance Sheets for Strategic Education

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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets
2,215 2,166 2,142 2,114 2,155 2,178 2,188 2,074 2,092 2,112 2,078
Total Current Assets
403 357 351 351 390 399 384 328 320 346 304
Cash & Equivalents
263 203 181 168 222 230 196 144 134 151 150
Short-Term Investments
11 24 25 29 31 26 26 38 31 21 7.28
Accounts Receivable
82 72 82 97 83 90 106 90 98 115 86
Current Deferred & Refundable Income Taxes
0.00 - 9.72 7.85 - - - - 0.76 2.43 0.00
Other Current Assets
47 54 52 49 54 53 56 55 56 54 60
Plant, Property, & Equipment, net
136 124 121 118 116 116 116 110 111 108 106
Total Noncurrent Assets
1,676 1,684 1,670 1,646 1,648 1,662 1,688 1,636 1,661 1,658 1,668
Long-Term Investments
15 13 8.61 1.91 0.00 0.00 0.00 15 15 9.99 5.00
Goodwill
1,226 1,243 1,238 1,228 1,230 1,241 1,261 1,210 1,231 1,237 1,256
Intangible Assets
260 257 253 250 249 249 252 245 248 249 250
Other Noncurrent Operating Assets
175 172 170 166 170 172 175 166 166 162 157
Total Liabilities & Shareholders' Equity
2,215 2,166 2,142 2,114 2,155 2,178 2,188 2,074 2,092 2,112 2,078
Total Liabilities
617 555 544 519 513 499 471 431 425 456 444
Total Current Liabilities
260 242 242 265 262 253 286 259 254 283 263
Accounts Payable
101 93 90 102 99 94 107 103 99 113 115
Current Deferred Revenue
132 123 129 140 129 134 154 127 135 152 132
Current Deferred & Payable Income Tax Liabilities
3.32 2.37 0.00 0.00 11 2.19 1.66 10 0.00 0.00 1.49
Other Current Liabilities
24 23 23 23 23 24 23 20 20 18 14
Total Noncurrent Liabilities
357 314 301 254 251 246 185 171 170 172 181
Noncurrent Deferred & Payable Income Tax Liabilities
34 36 31 28 30 28 26 31 28 31 39
Other Noncurrent Operating Liabilities
182 176 169 164 159 157 159 141 142 141 142
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
1,598 1,610 1,599 1,595 1,643 1,678 1,717 1,643 1,667 1,656 1,634
Total Preferred & Common Equity
1,598 1,610 1,599 1,595 1,643 1,678 1,717 1,643 1,667 1,656 1,634
Total Common Equity
1,598 1,610 1,599 1,595 1,643 1,678 1,717 1,643 1,667 1,656 1,634
Common Stock
1,508 1,512 1,509 1,513 1,520 1,526 1,530 1,503 1,490 1,468 1,400
Retained Earnings
157 143 140 144 184 199 210 225 236 241 266
Accumulated Other Comprehensive Income / (Loss)
-66 -44 -51 -63 -61 -47 -23 -85 -59 -53 -31

Annual Metrics And Ratios for Strategic Education

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding
- - - - - - - - - - 23,486,618.00
DEI Adjusted Shares Outstanding
- - - - - - - - - - 23,486,618.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - - 5.39
Growth Metrics
- - - - - - - - - - -
Profitability Metrics
- - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)
42 35 20 -16 72 83 53 47 66 109 124
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - 2.73% 3.85% 6.53% 7.55%
Earnings before Interest and Taxes (EBIT)
70 57 53 -19 124 114 77 70 101 161 177
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
88 74 72 36 229 224 181 133 159 206 226
Valuation Ratios
- - - - - - - - - - -
Leverage & Solvency
- - - - - - - - - - -
Liquidity Ratios
- - - - - - - - - - -
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
54 9.25 34 -1,010 191 -610 161 103 62 150 95
Efficiency Ratios
- - - - - - - - - - -
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
84 110 96 1,090 972 1,665 1,557 1,501 1,505 1,463 1,493
Increase / (Decrease) in Invested Capital
-11 26 -13 994 -118 693 -108 -56 3.99 -42 30
Book Value per Share
$12.95 $16.98 $18.73 $65.65 $66.59 $71.64 $69.67 $66.89 $67.68 $67.67 $70.10
Tangible Book Value per Share
$12.34 $15.11 $16.23 $16.78 $20.83 $4.24 $6.17 $5.07 $6.10 $8.57 $6.59
Total Capital
191 239 252 1,477 1,463 1,890 1,856 1,737 1,714 1,662 1,646
Total Debt
48 50 43 51 0.00 142 142 101 61 0.00 0.00
Total Long-Term Debt
48 50 43 51 0.00 142 142 101 61 0.00 0.00
Net Debt
-59 -79 -113 -335 -491 -84 -157 -135 -147 -199 -153
Capital Expenditures (CapEx)
13 13 18 28 39 47 41 37 31 41 42
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-32 -29 -35 -54 -87 -109 -103 -104 -89 -96 -88
Debt-free Net Working Capital (DFNWC)
75 101 121 295 367 86 172 119 119 88 60
Net Working Capital (NWC)
75 101 121 295 367 86 172 119 119 88 60
Net Nonoperating Expense (NNE)
2.16 0.11 -0.17 -0.25 -8.65 -3.46 -1.93 0.80 -3.75 -4.05 -2.26
Net Nonoperating Obligations (NNO)
-59 -79 -113 -335 -491 -84 -157 -135 -147 -199 -153
Total Depreciation and Amortization (D&A)
19 16 19 55 105 110 104 64 58 45 48
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$3.78 $3.28 $1.93 ($1.03) $3.73 $3.81 $2.30 $1.97 $2.98 $4.81 $5.57
Adjusted Weighted Average Basic Shares Outstanding
10.59M 10.61M 10.68M 15.19M 21.73M 22.63M 23.96M 23.68M 23.40M 23.41M 22.75M
Adjusted Diluted Earnings per Share
$3.73 $3.21 $1.84 ($1.03) $3.67 $3.77 $2.28 $1.94 $2.91 $4.67 $5.41
Adjusted Weighted Average Diluted Shares Outstanding
10.74M 10.85M 11.20M 15.19M 22.10M 22.86M 24.12M 24.00M 23.96M 24.14M 23.40M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 ($1.03) $3.73 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
11.03M 11.09M 11.16M 21.75M 21.97M 24.41M 24.59M 24.40M 24.41M 24.50M 22.73M
Normalized Net Operating Profit after Tax (NOPAT)
42 33 40 30 87 103 80 50 78 110 140
Debt Service Ratios
- - - - - - - - - - -
Payout Ratios
- - - - - - - - - - -

Quarterly Metrics And Ratios for Strategic Education

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding
- - - - - - - - - 23,486,618.00 22,730,391.00
DEI Adjusted Shares Outstanding
- - - - - - - - - 23,486,618.00 22,730,391.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - 1.61 1.44
Growth Metrics
- - - - - - - - - - -
Revenue Growth
8.67% 12.14% 13.11% 8.55% 7.00% 2.89% 4.60% 2.95% 4.57% - 0.77%
EBITDA Growth
76.03% 62.66% 292.54% 48.86% 20.03% -27.33% -2.05% 8.31% -1.95% - 0.19%
EBIT Growth
250.84% 100.15% 4,637.33% 109.13% 45.78% -31.38% -2.65% 8.72% -4.72% - 0.68%
NOPAT Growth
183.52% 109.20% 3,114.63% 150.44% 46.15% -37.32% -1.01% 8.57% 2.71% - 13.12%
Net Income Growth
203.00% 113.48% 1,564.60% 110.09% 50.32% -35.25% 0.14% 8.14% -4.03% - 10.30%
EPS Growth
208.00% 112.99% 1,466.67% 110.17% 49.35% -35.98% 0.81% 10.48% 0.00% - 19.35%
Operating Cash Flow Growth
5.40% 2,168.64% 120.28% 342.31% 10.89% -46.89% -12.85% 28.40% 16.79% - 29.14%
Free Cash Flow Firm Growth
-86.60% -53.43% -38.99% 2.69% -198.32% 91.11% -29.02% -8.37% 549.60% - -82.49%
Invested Capital Growth
0.45% 0.27% -1.21% -0.11% 2.56% -2.77% -0.32% 0.24% -1.57% - 1.81%
Revenue Q/Q Growth
-0.61% 5.86% -4.11% 7.59% -2.02% 1.80% -2.53% 5.89% -0.47% - -5.35%
EBITDA Q/Q Growth
15.71% 64.23% -19.82% -2.29% -6.70% -0.57% 8.07% 8.04% -15.54% - -19.84%
EBIT Q/Q Growth
32.43% 108.60% -21.86% -3.13% -7.68% -1.81% 10.86% 8.19% -19.09% - -20.47%
NOPAT Q/Q Growth
49.26% 115.00% -25.91% 5.34% -12.89% -7.79% 16.99% 15.53% -17.59% - -13.41%
Net Income Q/Q Growth
29.71% 111.98% -24.09% 0.66% -7.19% -8.69% 17.40% 8.70% -17.63% - -13.45%
EPS Q/Q Growth
30.51% 112.99% -25.00% 0.81% -7.26% -8.70% 18.10% 10.48% -16.06% - -10.30%
Operating Cash Flow Q/Q Growth
745.06% -35.51% 159.23% -68.69% 111.85% -69.11% 325.38% -53.87% 92.70% - 122.92%
Free Cash Flow Firm Q/Q Growth
-63.05% 202.73% 34.03% -31.52% -135.38% 688.45% -50.22% -11.59% 73.62% - -17.51%
Invested Capital Q/Q Growth
-1.84% 3.28% -3.65% 2.27% 0.78% -2.09% -1.22% 2.84% -1.04% - -1.44%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
EBITDA Margin
14.43% 22.39% 18.72% 17.00% 16.19% 15.81% 17.53% 17.89% 15.18% - 17.43%
Operating Margin
8.96% 17.91% 14.25% 13.43% 11.87% 11.57% 13.11% 14.23% 11.58% - 13.43%
EBIT Margin
9.26% 18.24% 14.87% 13.39% 12.61% 12.17% 13.84% 14.14% 11.49% - 13.82%
Profit (Net Income) Margin
6.46% 12.93% 10.23% 9.57% 9.07% 8.13% 9.80% 10.06% 8.32% - 10.72%
Tax Burden Percent
69.73% 70.86% 68.83% 71.52% 71.90% 66.87% 70.81% 71.14% 72.43% - 77.58%
Interest Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate
30.27% 29.14% 31.17% 28.48% 28.10% 33.13% 29.19% 28.86% 27.57% - 22.42%
Return on Invested Capital (ROIC)
4.73% 9.57% 7.84% 7.71% 7.01% 6.36% 7.91% 8.47% 7.10% - 9.07%
ROIC Less NNEP Spread (ROIC-NNEP)
4.32% 9.07% 7.10% 7.76% 6.10% 5.63% 7.10% 8.59% 7.20% - 8.56%
Return on Net Nonoperating Assets (RNNOA)
-0.39% -0.78% -0.73% -0.73% -0.66% -0.59% -0.84% -0.96% -0.87% - -0.94%
Return on Equity (ROE)
4.34% 8.79% 7.11% 6.98% 6.34% 5.77% 7.06% 7.51% 6.24% - 8.13%
Cash Return on Invested Capital (CROIC)
2.72% 4.13% 7.84% 7.84% 5.80% 10.13% 7.80% 7.23% 9.11% - 6.99%
Operating Return on Assets (OROA)
4.71% 9.64% 8.03% 7.38% 7.10% 7.11% 8.07% 8.23% 6.72% - 8.46%
Return on Assets (ROA)
3.28% 6.83% 5.53% 5.28% 5.11% 4.75% 5.71% 5.85% 4.86% - 6.56%
Return on Common Equity (ROCE)
4.34% 8.79% 7.11% 6.98% 6.34% 5.77% 7.06% 7.51% 6.24% - 8.13%
Return on Equity Simple (ROE_SIMPLE)
3.07% 0.00% 6.18% 6.98% 7.37% 0.00% 6.86% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)
18 38 28 30 26 24 28 33 27 37 32
NOPAT Margin
6.25% 12.69% 9.81% 9.60% 8.54% 7.73% 9.28% 10.13% 8.39% - 10.42%
Net Nonoperating Expense Percent (NNEP)
0.41% 0.50% 0.74% -0.06% 0.91% 0.72% 0.80% -0.12% -0.10% - 0.52%
Return On Investment Capital (ROIC_SIMPLE)
- 2.24% - - - 1.45% 1.71% 1.95% 1.62% 2.24% 1.95%
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%
SG&A Expenses to Revenue
88.60% 81.31% 87.65% 85.94% 87.88% 87.02% 86.26% 84.90% 83.97% - 85.88%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue
91.04% 82.09% 85.75% 86.57% 88.13% 88.43% 86.89% 85.77% 88.42% - 86.57%
Earnings before Interest and Taxes (EBIT)
26 55 43 42 39 38 42 45 37 53 42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
41 68 54 53 50 49 53 58 49 67 53
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.13 1.33 1.54 1.62 1.33 1.38 1.25 1.23 1.24 - 1.15
Price to Tangible Book Value (P/TBV)
15.38 14.79 15.43 14.51 11.16 10.90 10.93 10.97 12.08 - 14.68
Price to Revenue (P/Rev)
1.63 1.94 2.17 2.29 1.88 1.88 1.67 1.66 1.64 - 1.48
Price to Earnings (P/E)
36.68 31.57 24.90 23.24 18.02 20.37 18.25 17.86 18.03 - 14.54
Dividend Yield
3.27% 2.66% 2.32% 2.17% 2.59% 2.57% 2.86% 2.82% 2.79% - 2.89%
Earnings Yield
2.73% 3.17% 4.02% 4.30% 5.55% 4.91% 5.48% 5.60% 5.55% - 6.88%
Enterprise Value to Invested Capital (EV/IC)
1.14 1.37 1.61 1.70 1.38 1.43 1.29 1.26 1.27 - 1.17
Enterprise Value to Revenue (EV/Rev)
1.51 1.81 2.00 2.12 1.70 1.72 1.51 1.51 1.49 - 1.36
Enterprise Value to EBITDA (EV/EBITDA)
12.53 12.97 11.74 11.68 9.15 10.17 9.07 8.96 8.98 - 7.63
Enterprise Value to EBIT (EV/EBIT)
22.70 20.41 16.13 15.17 11.51 12.99 11.60 11.45 11.55 - 9.70
Enterprise Value to NOPAT (EV/NOPAT)
36.02 31.13 24.14 22.04 16.72 19.30 17.16 16.92 16.79 - 13.45
Enterprise Value to Operating Cash Flow (EV/OCF)
18.75 17.55 14.64 14.18 11.22 12.38 11.67 11.29 10.71 - 7.91
Enterprise Value to Free Cash Flow (EV/FCFF)
41.93 33.13 20.41 21.73 24.00 13.94 16.47 17.49 13.87 - 16.90
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.04 0.04 0.04 0.04 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to Equity
0.04 0.04 0.04 0.04 0.00 0.00 0.00 0.00 0.00 - 0.00
Financial Leverage
-0.09 -0.09 -0.10 -0.09 -0.11 -0.10 -0.12 -0.11 -0.12 - -0.11
Leverage Ratio
1.36 1.30 1.33 1.32 1.30 1.26 1.29 1.28 1.27 - 1.27
Compound Leverage Factor
1.36 1.30 1.33 1.32 1.30 1.26 1.29 1.28 1.27 - 1.27
Debt to Total Capital
3.70% 3.58% 3.60% 3.53% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
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%
Long-Term Debt to Total Capital
3.70% 3.58% 3.60% 3.53% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
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%
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%
Common Equity to Total Capital
96.30% 96.42% 96.40% 96.47% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Debt to EBITDA
0.46 0.39 0.31 0.28 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Debt to EBITDA
-1.04 -0.93 -0.97 -0.90 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to EBITDA
0.46 0.39 0.31 0.28 0.00 0.00 0.00 0.00 0.00 - 0.00
Debt to NOPAT
1.33 0.93 0.63 0.53 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Debt to NOPAT
-2.98 -2.23 -1.99 -1.70 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to NOPAT
1.33 0.93 0.63 0.53 0.00 0.00 0.00 0.00 0.00 - 0.00
Altman Z-Score
2.78 3.59 3.76 4.09 3.70 4.41 3.72 3.77 3.55 - 3.43
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.32 1.57 1.49 1.57 1.34 1.41 1.27 1.26 1.22 - 1.16
Quick Ratio
1.11 1.36 1.29 1.36 1.15 1.20 1.05 1.03 1.01 - 0.93
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
11 34 46 32 -11 66 33 29 50 6.95 5.74
Operating Cash Flow to CapEx
487.57% 311.13% 844.91% 226.30% 546.73% 141.58% 655.71% 288.08% 553.86% - 868.01%
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
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
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
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.51 0.53 0.54 0.55 0.56 0.58 0.58 0.58 0.58 - 0.61
Accounts Receivable Turnover
12.29 16.29 15.06 13.85 11.92 16.03 14.22 13.25 11.39 - 14.40
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover
8.66 9.01 9.69 10.04 10.35 10.62 10.91 10.93 11.22 - 11.76
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)
29.71 22.40 24.24 26.35 30.62 22.77 25.66 27.54 32.05 - 25.35
Days Inventory Outstanding (DIO)
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
Cash Conversion Cycle (CCC)
29.71 22.40 24.24 26.35 30.62 22.77 25.66 27.54 32.05 - 25.35
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
1,457 1,505 1,450 1,483 1,495 1,463 1,446 1,487 1,471 1,493 1,472
Invested Capital Turnover
0.76 0.75 0.80 0.80 0.82 0.82 0.85 0.84 0.85 - 0.87
Increase / (Decrease) in Invested Capital
6.50 3.99 -18 -1.62 37 -42 -4.58 3.59 -23 30 26
Enterprise Value (EV)
1,660 2,056 2,336 2,528 2,057 2,096 1,860 1,877 1,873 - 1,723
Market Capitalization
1,797 2,203 2,528 2,723 2,279 2,295 2,057 2,057 2,056 - 1,886
Book Value per Share
$65.21 $67.68 $67.30 $68.19 $69.72 $67.67 $67.07 $68.98 $69.29 $70.10 $71.91
Tangible Book Value per Share
$4.78 $6.10 $6.71 $7.63 $8.29 $8.57 $7.68 $7.76 $7.12 $6.59 $5.65
Total Capital
1,656 1,714 1,704 1,739 1,717 1,662 1,643 1,667 1,656 1,646 1,634
Total Debt
61 61 61 61 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
61 61 61 61 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
-137 -147 -192 -195 -222 -199 -198 -180 -183 -153 -163
Capital Expenditures (CapEx)
9.52 9.63 9.19 11 9.42 11 10 11 11 12 10
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-112 -89 -125 -111 -124 -96 -114 -99 -110 -88 -117
Debt-free Net Working Capital (DFNWC)
85 119 129 145 98 88 69 65 63 60 41
Net Working Capital (NWC)
85 119 129 145 98 88 69 65 63 60 41
Net Nonoperating Expense (NNE)
-0.59 -0.70 -1.23 0.09 -1.63 -1.25 -1.57 0.22 0.20 -1.10 -0.93
Net Nonoperating Obligations (NNO)
-137 -147 -192 -195 -222 -199 -198 -180 -185 -153 -163
Total Depreciation and Amortization (D&A)
15 13 11 11 11 11 11 12 12 13 11
Debt-free, Cash-free Net Working Capital to Revenue
-10.14% -7.83% -10.70% -9.30% -10.27% -7.83% -9.23% -8.01% -8.73% - -9.19%
Debt-free Net Working Capital to Revenue
7.74% 10.54% 11.03% 12.21% 8.06% 7.25% 5.58% 5.27% 5.01% - 3.22%
Net Working Capital to Revenue
7.74% 10.54% 11.03% 12.21% 8.06% 7.25% 5.58% 5.27% 5.01% - 3.22%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.79 $1.67 $1.27 $1.28 $1.18 $1.08 $1.28 $1.41 $1.18 $1.70 $1.52
Adjusted Weighted Average Basic Shares Outstanding
23.37M 23.40M 23.39M 23.44M 23.42M 23.41M 23.32M 22.91M 22.58M 22.75M 21.62M
Adjusted Diluted Earnings per Share
$0.77 $1.64 $1.23 $1.24 $1.15 $1.05 $1.24 $1.37 $1.15 $1.65 $1.48
Adjusted Weighted Average Diluted Shares Outstanding
23.87M 23.96M 24.06M 24.18M 24.17M 24.14M 24.07M 23.52M 23.21M 23.40M 22.17M
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
24.42M 24.41M 24.61M 24.62M 24.57M 24.50M 24.16M 23.90M 23.49M 22.73M 22.61M
Normalized Net Operating Profit after Tax (NOPAT)
20 39 25 31 27 27 30 35 37 39 34
Normalized NOPAT Margin
7.13% 12.99% 8.50% 10.06% 8.72% 8.68% 9.73% 10.74% 11.61% - 10.95%
Pre Tax Income Margin
9.26% 18.24% 14.87% 13.39% 12.61% 12.17% 13.84% 14.14% 11.49% - 13.82%
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
NOPAT to Interest Expense
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
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
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
119.98% 84.22% 57.88% 50.19% 46.57% 52.33% 52.37% 50.95% 50.94% - 43.43%
Augmented Payout Ratio
146.92% 98.55% 57.88% 50.19% 50.53% 62.55% 90.99% 113.08% 139.36% - 156.68%

Financials Breakdown Chart

Key Financial Trends

Here are a concise set of observations on Strategic Education, Inc. (STRA) based on the last four years of quarterly statements provided.

  • 2025 Q4 revenue and gross profit are both $323.21 million, indicating strong topline performance with a very high gross margin (cost of revenue appears effectively zero in that quarter).
  • 2025 Q4 net income attributable to common shareholders is $37.91 million, with basic EPS of $1.70 and diluted EPS of $1.65, marking solid quarterly profitability and earnings per share strength.
  • Cash flow from operating activities remained positive and sizable in 2025, with Q3 2025 CFO from continuing operations at $60.14 million and Q4 2025 CFO at $39.20 million, demonstrating ongoing cash generation from core operations.
  • The balance sheet shows deleveraging in 2025, with long-term debt effectively at $0 by Q3 2025 (down from about $61.3 million in Q2 2025) alongside a robust cash balance (~$151 million in Q3 2025), improving liquidity and balance-sheet strength.
  • The company maintains a steady shareholder-friendly policy, paying a quarterly dividend of $0.60 per share in 2025, signaling ongoing cash returns to shareholders.
  • Investing activity in Q4 2025 was mixed but positive overall for the quarter, aided by $21.50 million from sale/maturity of investments and $12.24 million in PPE purchases, yielding net continuing investing cash flow of $9.04 million.
  • Across multiple quarters, gross margin remains exceptionally high due to minimal or zero reported cost of revenue in several periods, which could reflect accounting restatements or data nuances that investors should monitor for consistency.
  • acquisitions were minimal in the latest periods (e.g., a very small net acquisition outlay in Q3 2025), suggesting limited near-term M&A risk or integration cost concerns.
  • Financing cash flow was consistently negative in 2025 due to ongoing share repurchases and dividends, with net cash from continuing financing activities totaling around -$58.7 million in Q4 2025, reducing liquidity available for other uses.
  • Working capital movements have occasionally depressed quarterly cash flow, as seen in negative changes in operating assets and liabilities in some quarters (e.g., -$15.6 million in Q4 2025), which can pressure near-term cash generation despite positive net income.
05/14/26 03:27 PM ETAI Generated. May Contain Errors.

Strategic Education Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Strategic Education's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Strategic Education's net income appears to be on an upward trend, with a most recent value of $126.61 million in 2025, rising from $40.02 million in 2015. The previous period was $112.68 million in 2024. View Strategic Education's forecast to see where analysts expect Strategic Education to go next.

Strategic Education's total operating income in 2025 was $174.23 million, based on the following breakdown:
  • Total Gross Profit: $1.27 billion
  • Total Operating Expenses: $1.09 billion

Over the last 10 years, Strategic Education's total revenue changed from $434.44 million in 2015 to $1.27 billion in 2025, a change of 191.9%.

Strategic Education's total liabilities were at $392.13 million at the end of 2025, a 1.3% increase from 2024, and a 271.4% increase since 2015.

In the past 10 years, Strategic Education's cash and equivalents has ranged from $106.89 million in 2015 to $419.69 million in 2019, and is currently $140.76 million as of their latest financial filing in 2025.

Over the last 10 years, Strategic Education's book value per share changed from 12.95 in 2015 to 70.10 in 2025, a change of 441.1%.



Financial statements for NASDAQ:STRA last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners