Stride (LRN) Financials

$88.42 +0.02 (+0.03%)

Closing price 05/15/2026 03:59 PM Eastern

Extended Trading

$87.94 -0.49 (-0.55%)

As of 05/15/2026 07:34 PM Eastern

Annual Income Statements for Stride

This table shows Stride'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	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	11	9.04	0.45	28	37	25	71	107	127	204	288
Consolidated Net Income / (Loss)	9.33	8.55	-0.46	27	37	25	71	107	127	204	288
Net Income / (Loss) Continuing Operations	9.33	8.55	-0.46	27	37	25	71	107	127	204	288
Total Pre-Tax Income	15	13	4.94	27	48	33	95	147	173	268	383
Total Operating Income	18	14	13	26	45	32	110	157	165	250	360
Total Gross Profit	341	326	331	325	352	348	535	596	647	764	944
Total Revenue	948	873	889	918	1,016	1,041	1,537	1,687	1,837	2,040	2,405
Operating Revenue	948	873	889	918	1,016	1,041	1,537	1,687	1,837	2,040	2,405
Total Cost of Revenue	608	547	557	592	663	693	1,002	1,090	1,190	1,276	1,461
Operating Cost of Revenue	608	547	557	592	663	693	1,002	1,090	1,190	1,276	1,461
Total Operating Expenses	322	312	318	300	307	315	424	440	482	514	584
Selling, General & Admin Expense	308	302	306	300	307	315	424	440	482	514	524
Impairment Charge	-	-	-	-	-	-	-	-	0.00	0.00	59
Total Other Income / (Expense), net	-3.29	-0.62	-8.19	0.97	2.88	0.97	-15	-9.55	7.05	18	23
Interest & Investment Income	-	-	1.81	0.97	2.76	0.70	-18	-8.28	-8.40	-8.81	-11
Other Income / (Expense), net	-3.20	-	-10	0.00	0.11	0.27	2.83	-1.28	15	27	34
Income Tax Expense	5.81	4.75	5.40	-0.91	11	8.54	25	40	45	64	93
Other Gains / (Losses), net	-	-	-	0.00	-0.63	-0.38	0.68	0.14	-0.33	0.98	-2.27
Basic Earnings per Share	$0.29	$0.24	$0.01	$0.70	$0.96	$0.62	$1.78	$2.58	$3.00	$4.79	$6.69
Weighted Average Basic Shares Outstanding	37.33M	37.61M	38.30M	39.28M	38.85M	39.48M	40.21M	41.45M	42.29M	42.63M	43.04M
Diluted Earnings per Share	$0.29	$0.23	$0.01	$0.68	$0.91	$0.60	$1.71	$2.52	$2.97	$4.69	$5.95
Weighted Average Diluted Shares Outstanding	37.63M	38.85M	39.50M	40.64M	40.94M	40.66M	41.87M	42.44M	42.73M	43.54M	48.41M
Weighted Average Basic & Diluted Shares Outstanding	37.90M	37.60M	45.10M	39.50M	38.80M	40.66M	41.87M	42.44M	42.99M	43.28M	43.63M

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 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	4.88	67	70	63	41	96	99	51	69	99	89
Consolidated Net Income / (Loss)	4.88	67	70	63	41	96	99	51	69	99	89
Net Income / (Loss) Continuing Operations	4.88	67	70	63	41	96	99	51	69	99	89
Total Pre-Tax Income	6.42	89	94	79	54	130	135	64	83	133	121
Total Operating Income	3.32	84	88	74	47	125	131	57	69	147	129
Total Gross Profit	173	201	201	188	216	240	249	239	242	260	232
Total Revenue	480	505	521	534	551	587	613	654	621	631	630
Operating Revenue	480	505	521	534	551	587	613	654	621	631	630
Total Cost of Revenue	307	304	320	346	335	347	364	415	379	372	398
Operating Cost of Revenue	307	304	320	346	335	347	364	415	379	372	398
Total Operating Expenses	170	117	113	115	169	115	119	182	173	113	102
Selling, General & Admin Expense	170	117	113	115	169	115	119	123	173	113	102
Total Other Income / (Expense), net	3.10	4.52	5.27	5.20	6.43	4.66	4.57	7.47	14	-14	-8.34
Interest & Investment Income	-2.07	-2.02	-2.40	-2.32	-2.35	-2.67	-2.79	-2.69	-3.08	-2.81	-3.00
Other Income / (Expense), net	5.17	6.54	7.68	7.52	8.78	7.33	7.36	10	17	-11	-5.34
Income Tax Expense	1.54	22	25	16	11	33	35	13	14	34	32
Other Gains / (Losses), net	-0.00	0.22	0.76	0.00	-1.61	-0.01	-0.56	-0.09	0.40	0.17	-0.67
Basic Earnings per Share	$0.11	$1.57	$1.63	$1.48	$0.95	$2.24	$2.31	$1.19	$1.59	$2.31	$2.09
Weighted Average Basic Shares Outstanding	42.50M	42.56M	42.68M	42.63M	42.87M	43.02M	43.09M	43.04M	43.37M	43.07M	42.33M
Diluted Earnings per Share	$0.11	$1.54	$1.60	$1.44	$0.94	$2.03	$2.02	$0.96	$1.40	$2.12	$1.93
Weighted Average Diluted Shares Outstanding	42.98M	43.46M	43.66M	43.54M	43.71M	47.46M	49.18M	48.41M	49.22M	46.86M	45.84M
Weighted Average Basic & Diluted Shares Outstanding	43.34M	43.37M	43.25M	43.28M	43.59M	43.55M	43.52M	43.63M	43.86M	42.58M	42.52M

This table details how cash moves in and out of Stride'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	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Change in Cash & Equivalents	-0.26	18	17	2.25	52	-71	173	2.82	21	90	282
Net Cash From Operating Activities	120	122	89	105	142	80	134	207	203	279	433
Net Cash From Continuing Operating Activities	120	122	89	105	142	80	134	207	203	279	433
Net Income / (Loss) Continuing Operations	9.33	8.55	-0.46	27	37	25	71	107	127	204	288
Consolidated Net Income / (Loss)	9.33	8.55	-0.46	27	37	25	71	107	127	204	288
Depreciation Expense	80	68	74	75	71	72	90	98	110	110	115
Amortization Expense	-	-	-	-	0.00	0.00	13	1.57	1.60	1.64	1.65
Non-Cash Adjustments To Reconcile Net Income	38	23	48	-3.59	20	22	26	59	25	60	118
Changes in Operating Assets and Liabilities, net	-7.70	22	-34	6.35	13	-38	-66	-59	-60	-96	-89
Net Cash From Investing Activities	-68	-83	-57	-50	-61	-217	-165	-111	-118	-140	-88
Net Cash From Continuing Investing Activities	-68	-83	-57	-50	-61	-217	-165	-111	-118	-140	-88
Purchase of Property, Plant & Equipment	-44	-41	-29	-33	-32	-26	-35	-52	-49	-43	-38
Acquisitions	-6.51	-20	-9.06	-7.27	0.00	-168	-71	0.00	-1.41	0.00	0.00
Purchase of Investments	-	-	-	-	-13	-4.37	-42	-89	-142	-283	-281
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	0.00	45	92	204	253
Other Investing Activities, net	-18	-22	-19	-9.93	-17	-19	-17	-16	-17	-19	-22
Net Cash From Financing Activities	-50	-21	-15	-53	-29	66	205	-93	-64	-49	-63
Net Cash From Continuing Financing Activities	-50	-21	-15	-53	-29	66	205	-93	-64	-49	-63
Repayment of Debt	-22	-17	-16	-13	0.00	-33	-124	0.00	-43	-41	-41
Repurchase of Preferred Equity	-2.67	-3.39	-6.19	-10	-9.96	-6.76	-9.23	-38	-14	-8.20	-21
Other Financing Activities, net	0.67	0.02	7.24	-1.62	-19	0.06	-70	-55	-7.00	0.00	0.00

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 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	-156	100	22	124	-183	200	14	251	-264	-21	117
Net Cash From Operating Activities	-135	173	69	172	-142	223	53	298	-196	92	221
Net Cash From Continuing Operating Activities	-135	173	69	172	-142	223	53	298	-196	92	221
Net Income / (Loss) Continuing Operations	4.88	67	70	63	41	96	99	51	69	99	89
Consolidated Net Income / (Loss)	4.88	67	70	63	41	96	99	51	69	99	89
Depreciation Expense	28	26	27	28	28	27	29	30	29	31	33
Amortization Expense	0.42	0.42	0.40	0.40	0.42	0.42	0.39	0.41	0.43	0.43	0.40
Non-Cash Adjustments To Reconcile Net Income	7.82	31	8.31	11	9.37	9.46	16	74	16	17	24
Changes in Operating Assets and Liabilities, net	-176	48	-37	70	-221	90	-91	143	-311	-56	75
Net Cash From Investing Activities	-7.07	-62	-32	-39	-21	-15	-18	-35	-25	-9.95	-85
Net Cash From Continuing Investing Activities	-7.07	-62	-32	-39	-21	-15	-18	-35	-25	-9.95	-85
Purchase of Property, Plant & Equipment	-12	-8.37	-12	-11	-9.46	-10	-10	-8.25	-14	-11	-13
Purchase of Investments	-32	-89	-43	-120	-61	-86	-83	-51	-65	-116	-97
Sale and/or Maturity of Investments	41	40	27	97	54	86	81	31	62	122	30
Other Investing Activities, net	-4.41	-4.32	-4.80	-5.13	-5.32	-4.52	-5.61	-6.35	-7.68	-5.25	-5.23
Net Cash From Financing Activities	-14	-12	-14	-9.31	-20	-8.73	-22	-12	-44	-103	-19
Net Cash From Continuing Financing Activities	-14	-12	-14	-9.31	-20	-8.73	-22	-12	-44	-103	-19
Repayment of Debt	-	-	-	-41	-8.75	-7.97	-13	-12	-12	-14	-15
Repurchase of Preferred Equity	-2.09	-1.07	-4.44	-0.60	-11	-0.76	-8.71	-0.80	-32	-0.60	-3.98

This table presents Stride'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	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	709	734	735	742	820	1,073	1,577	1,644	1,761	1,920	2,294
Total Current Assets	459	446	474	454	530	501	858	951	1,065	1,245	1,633
Cash & Equivalents	196	214	231	231	283	212	386	389	411	501	782
Short-Term Investments	-	-	-	-	-	-	-	-	112	192	203
Accounts Receivable	188	170	192	176	192	236	369	419	464	473	560
Inventories, net	30	31	31	26	30	28	40	36	37	37	38
Prepaid Expenses	11	9.63	8.01	10	13	13	19	26	25	29	36
Other Current Assets	25	22	12	10	12	11	43	81	17	14	15
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	250	288	262	288	290	572	720	693	695	675	661
Goodwill	66	87	87	90	90	175	240	241	247	247	247
Intangible Assets	21	23	20	18	15	77	99	160	75	60	18
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	0.00	8.78	7.20	26
Other Noncurrent Operating Assets	162	178	154	180	185	320	380	292	365	361	370
Total Liabilities & Shareholders' Equity	709	734	735	742	820	1,073	1,577	1,644	1,761	1,920	2,294
Total Liabilities	162	168	160	155	186	398	773	831	813	744	814
Total Current Liabilities	111	123	118	116	156	273	306	302	309	244	303
Accounts Payable	30	26	30	29	50	40	62	62	49	41	44
Accrued Expenses	12	27	22	14	21	27	78	63	77	61	103
Current Deferred Revenue	25	26	25	23	23	24	38	54	76	36	27
Current Employee Benefit Liabilities	27	31	29	36	42	47	80	73	57	65	75
Other Current Liabilities	-	-	-	-	0.00	34	48	50	50	42	54
Total Noncurrent Liabilities	51	45	42	39	31	125	466	529	504	500	511
Long-Term Debt	-	-	-	-	-	0.00	299	411	413	415	416
Noncurrent Deferred & Payable Income Tax Liabilities	22	18	17	13	17	14	32	3.21	0.00	-	0.00
Other Noncurrent Operating Liabilities	8.23	9.78	12	10	8.92	111	135	114	91	85	95
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	537	559	574	587	633	675	805	813	947	1,176	1,480
Total Preferred & Common Equity	537	559	574	587	633	675	805	813	947	1,176	1,480
Preferred Stock	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	537	559	574	587	633	675	805	813	947	1,176	1,480
Common Stock	663	675	690	703	713	731	795	687	695	720	736
Retained Earnings	-50	-41	-41	-13	22	47	112	227	354	559	846
Treasury Stock	-75	-75	-75	-102	-102	-102	-102	-102	-102	-102	-102
Accumulated Other Comprehensive Income / (Loss)	-1.07	-0.29	-0.17	-0.25	-0.04	0.09	-0.47	0.14	-0.04	-0.04	-0.07

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

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2022	3/31/2023	9/30/2023	12/31/2023	3/31/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Total Assets	1,619	1,700	1,768	1,782	1,892	1,972	2,071	2,208	2,333	2,307	2,447
Total Current Assets	929	1,007	1,080	1,089	1,209	1,291	1,388	1,513	1,650	1,600	1,759
Cash & Equivalents	318	374	255	354	377	318	515	529	518	497	614
Short-Term Investments	-	-	-	-	-	204	202	195	197	129	192
Accounts Receivable	442	475	630	510	578	676	583	700	809	869	855
Inventories, net	24	23	22	20	21	22	21	22	20	18	22
Prepaid Expenses	44	39	50	36	40	54	51	50	91	74	65
Other Current Assets	101	97	124	170	194	17	16	17	15	13	12
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	690	693	687	693	683	681	682	695	683	706	688
Goodwill	247	247	247	247	247	247	247	247	247	247	247
Intangible Assets	160	80	72	69	65	58	55	53	16	94	13
Noncurrent Deferred & Refundable Income Taxes	-	-	1.77	9.50	15	0.00	0.00	3.36	0.00	0.00	0.00
Other Noncurrent Operating Assets	284	366	367	368	357	376	380	392	420	366	429
Total Liabilities & Shareholders' Equity	1,619	1,700	1,768	1,782	1,892	1,972	2,071	2,208	2,333	2,307	2,447
Total Liabilities	777	800	809	750	789	758	753	791	806	759	805
Total Current Liabilities	249	284	299	241	282	231	231	270	244	220	283
Accounts Payable	33	35	75	31	37	50	31	40	56	46	45
Accrued Expenses	41	46	51	56	68	56	83	71	59	63	97
Current Deferred Revenue	84	94	84	64	71	32	17	33	19	5.08	19
Current Employee Benefit Liabilities	34	54	40	43	62	40	45	69	44	43	60
Other Current Liabilities	58	55	50	46	44	52	56	56	66	63	62
Total Noncurrent Liabilities	528	516	510	509	507	527	522	521	562	539	522
Long-Term Debt	412	413	413	414	414	415	416	416	417	417	418
Noncurrent Deferred & Payable Income Tax Liabilities	11	5.35	-	-	-	2.30	0.47	-	22	27	18
Other Noncurrent Operating Liabilities	105	98	97	95	93	110	106	105	124	95	87
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	842	899	958	1,033	1,103	1,214	1,318	1,417	1,527	1,548	1,642
Total Preferred & Common Equity	842	899	958	1,033	1,103	1,214	1,318	1,417	1,527	1,548	1,642
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	842	899	958	1,033	1,103	1,214	1,318	1,417	1,527	1,548	1,642
Common Stock	689	691	702	709	710	717	725	725	715	724	730
Retained Earnings	255	311	359	426	496	599	696	795	915	1,015	1,103
Treasury Stock	-102	-102	-102	-102	-102	-102	-102	-102	-102	-191	-191
Accumulated Other Comprehensive Income / (Loss)	0.19	0.06	-0.04	-0.04	-0.04	-0.06	-0.04	-0.05	-0.06	-0.06	-0.06

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.13%	-7.97%	1.81%	3.29%	10.68%	2.46%	47.66%	9.75%	8.93%	11.03%	17.90%
EBITDA Growth	-17.33%	-14.00%	-5.76%	30.22%	16.07%	-10.41%	106.05%	17.99%	14.94%	32.41%	31.51%
EBIT Growth	-47.96%	-8.62%	-77.51%	716.40%	78.51%	-28.23%	246.13%	37.13%	16.48%	52.80%	42.40%
NOPAT Growth	-19.96%	-21.19%	-113.64%	2,264.62%	34.70%	-32.11%	239.42%	38.92%	7.08%	55.30%	43.92%
Net Income Growth	-48.52%	-8.31%	-105.37%	6,073.86%	35.70%	-34.14%	191.57%	49.93%	18.42%	60.94%	41.02%
EPS Growth	-42.00%	-20.69%	-95.65%	6,700.00%	33.82%	-34.07%	185.00%	47.37%	17.86%	57.91%	26.87%
Operating Cash Flow Growth	-2.27%	1.41%	-27.14%	18.84%	34.29%	-43.21%	66.82%	54.22%	-1.80%	37.24%	55.24%
Free Cash Flow Firm Growth	-43.31%	-20.74%	-42.14%	29.26%	310.89%	-483.18%	55.61%	96.09%	4,281.82%	8.11%	102.41%
Invested Capital Growth	-1.61%	-1.31%	-2.47%	4.37%	-1.88%	50.18%	27.50%	16.27%	0.36%	7.26%	1.36%
Revenue Q/Q Growth	0.38%	-1.62%	-0.62%	2.58%	1.75%	1.23%	48.16%	-15.66%	1.56%	2.55%	5.23%
EBITDA Q/Q Growth	-18.11%	8.48%	-6.57%	5.06%	-5.33%	6.47%	12.22%	6.04%	9.14%	5.41%	-2.33%
EBIT Q/Q Growth	-68.00%	577.65%	-64.95%	25.34%	-13.44%	18.95%	13.98%	13.59%	11.92%	8.39%	-3.47%
NOPAT Q/Q Growth	-62.00%	538.81%	-123.89%	29.72%	-15.76%	10.51%	12.93%	20.94%	5.85%	10.63%	-4.57%
Net Income Q/Q Growth	-72.45%	331.73%	-107.90%	139.06%	-13.95%	6.85%	8.52%	19.65%	13.70%	10.50%	-3.83%
EPS Q/Q Growth	-68.48%	560.00%	-92.86%	142.86%	-13.33%	1.69%	8.23%	19.43%	14.23%	9.84%	-7.47%
Operating Cash Flow Q/Q Growth	37.86%	-10.11%	-9.49%	-1.07%	14.65%	12.73%	51.56%	1.20%	-12.32%	36.98%	41.12%
Free Cash Flow Firm Q/Q Growth	236.53%	-75.16%	164.33%	-57.19%	118.70%	4.00%	-10.44%	92.03%	98.37%	510.92%	-17.86%
Invested Capital Q/Q Growth	-14.27%	-2.64%	-9.20%	-4.29%	-11.15%	-8.39%	-4.69%	-5.48%	-10.73%	-21.25%	-17.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.91%	37.38%	37.28%	35.44%	34.69%	33.39%	34.81%	35.36%	35.22%	37.43%	39.24%
EBITDA Margin	10.07%	9.41%	8.71%	10.98%	11.52%	10.07%	14.05%	15.11%	15.94%	19.01%	21.20%
Operating Margin	1.94%	1.59%	1.48%	2.78%	4.48%	3.12%	7.19%	9.29%	9.01%	12.23%	14.97%
EBIT Margin	1.61%	1.59%	0.35%	2.78%	4.49%	3.14%	7.37%	9.21%	9.85%	13.55%	16.37%
Profit (Net Income) Margin	0.98%	0.98%	-0.05%	2.99%	3.66%	2.35%	4.65%	6.35%	6.90%	10.01%	11.97%
Tax Burden Percent	61.61%	64.31%	-9.30%	103.43%	76.94%	73.31%	74.97%	72.84%	73.53%	76.28%	75.14%
Interest Burden Percent	99.40%	95.57%	157.78%	103.78%	106.05%	102.13%	84.13%	94.67%	95.36%	96.81%	97.33%
Effective Tax Rate	38.39%	35.69%	109.30%	-3.43%	21.75%	25.55%	25.75%	27.26%	26.28%	24.09%	24.27%
Return on Invested Capital (ROIC)	2.96%	2.37%	-0.33%	7.06%	9.40%	5.15%	12.81%	14.68%	14.59%	21.83%	30.15%
ROIC Less NNEP Spread (ROIC-NNEP)	4.21%	2.59%	-0.71%	6.58%	8.71%	4.97%	23.42%	35.69%	3.50%	14.23%	26.55%
Return on Net Nonoperating Assets (RNNOA)	-1.25%	-0.83%	0.25%	-2.34%	-3.31%	-1.41%	-3.15%	-1.43%	-0.17%	-2.60%	-8.46%
Return on Equity (ROE)	1.71%	1.54%	-0.08%	4.72%	6.10%	3.75%	9.66%	13.25%	14.42%	19.23%	21.69%
Cash Return on Invested Capital (CROIC)	4.58%	3.69%	2.17%	2.78%	11.31%	-34.97%	-11.37%	-0.37%	14.23%	14.82%	28.79%
Operating Return on Assets (OROA)	2.14%	1.93%	0.43%	3.46%	5.84%	3.46%	8.55%	9.65%	10.63%	15.02%	18.68%
Return on Assets (ROA)	1.31%	1.19%	-0.06%	3.71%	4.77%	2.59%	5.39%	6.65%	7.45%	11.09%	13.66%
Return on Common Equity (ROCE)	1.67%	1.51%	-0.08%	4.72%	6.10%	3.75%	9.66%	13.25%	14.42%	19.23%	21.69%
Return on Equity Simple (ROE_SIMPLE)	1.74%	1.53%	-0.08%	4.67%	5.87%	3.63%	8.88%	13.18%	13.39%	17.36%	0.00%
Net Operating Profit after Tax (NOPAT)	11	8.95	-1.22	26	36	24	82	114	122	189	273
NOPAT Margin	1.20%	1.03%	-0.14%	2.88%	3.50%	2.32%	5.34%	6.76%	6.64%	9.29%	11.34%
Net Nonoperating Expense Percent (NNEP)	-1.25%	-0.22%	0.38%	0.48%	0.70%	0.18%	-10.61%	-21.02%	11.09%	7.60%	3.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	14.38%
Cost of Revenue to Revenue	64.09%	62.62%	62.72%	64.56%	65.31%	66.61%	65.19%	64.64%	64.78%	62.57%	60.76%
SG&A Expenses to Revenue	32.45%	34.63%	34.40%	32.66%	30.21%	30.27%	27.62%	26.08%	26.21%	25.20%	21.80%
R&D to Revenue	1.52%	1.15%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.97%	35.78%	35.80%	32.66%	30.21%	30.27%	27.62%	26.08%	26.21%	25.20%	24.27%
Earnings before Interest and Taxes (EBIT)	15	14	3.13	26	46	33	113	155	181	277	394
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	96	82	77	101	117	105	216	255	293	388	510
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.90	0.87	1.27	1.15	1.93	1.65	1.66	2.15	1.69	2.59	4.27
Price to Tangible Book Value (P/TBV)	1.08	1.09	1.56	1.41	2.31	2.64	3.28	4.24	2.56	3.51	5.20
Price to Revenue (P/Rev)	0.51	0.56	0.82	0.73	1.20	1.07	0.87	1.03	0.87	1.49	2.63
Price to Earnings (P/E)	44.17	54.03	1,611.84	24.40	32.86	45.56	18.68	16.28	12.63	14.94	21.95
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.26%	1.85%	0.06%	4.10%	3.04%	2.19%	5.35%	6.14%	7.92%	6.70%	4.56%
Enterprise Value to Invested Capital (EV/IC)	0.86	0.81	1.42	1.23	2.57	1.78	1.74	2.12	1.78	3.09	6.31
Enterprise Value to Revenue (EV/Rev)	0.35	0.35	0.58	0.51	0.95	0.97	0.81	1.05	0.81	1.36	2.39
Enterprise Value to EBITDA (EV/EBITDA)	3.44	3.71	6.70	4.65	8.24	9.58	5.78	6.93	5.10	7.15	11.27
Enterprise Value to EBIT (EV/EBIT)	21.59	21.91	165.77	18.36	21.14	30.69	11.02	11.37	8.25	10.02	14.60
Enterprise Value to NOPAT (EV/NOPAT)	28.96	34.07	0.00	17.75	27.09	41.56	15.22	15.50	12.23	14.63	21.09
Enterprise Value to Operating Cash Flow (EV/OCF)	2.74	2.50	5.85	4.45	6.81	12.49	9.30	8.54	7.35	9.94	13.29
Enterprise Value to Free Cash Flow (EV/FCFF)	18.71	21.89	64.37	45.02	22.53	0.00	0.00	0.00	12.54	21.54	22.08
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	0.04	0.04	0.04	0.04	0.15	0.37	0.51	0.44	0.35	0.28
Long-Term Debt to Equity	0.02	0.02	0.02	0.02	0.01	0.00	0.37	0.51	0.44	0.35	0.28
Financial Leverage	-0.30	-0.32	-0.35	-0.36	-0.38	-0.28	-0.13	-0.04	-0.05	-0.18	-0.32
Leverage Ratio	1.30	1.30	1.29	1.27	1.28	1.45	1.79	1.99	1.93	1.73	1.59
Compound Leverage Factor	1.29	1.24	2.03	1.32	1.36	1.48	1.51	1.89	1.84	1.68	1.54
Debt to Total Capital	5.15%	3.93%	3.67%	4.24%	3.75%	12.90%	27.11%	33.61%	30.36%	26.07%	21.96%
Short-Term Debt to Total Capital	2.89%	2.24%	1.99%	2.18%	2.98%	12.90%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	2.26%	1.68%	1.68%	2.07%	0.77%	0.00%	27.11%	33.61%	30.36%	26.07%	21.96%
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	1.67%	1.27%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	93.19%	94.80%	96.21%	95.76%	96.25%	87.10%	72.89%	66.39%	69.64%	73.93%	78.04%
Debt to EBITDA	0.31	0.28	0.28	0.26	0.21	0.95	1.39	1.61	1.41	1.07	0.82
Net Debt to EBITDA	-1.74	-2.32	-2.70	-2.03	-2.21	-1.07	-0.40	0.09	-0.37	-0.72	-1.12
Long-Term Debt to EBITDA	0.14	0.12	0.13	0.13	0.04	0.00	1.39	1.61	1.41	1.07	0.82
Debt to NOPAT	2.61	2.59	-17.95	0.98	0.69	4.14	3.65	3.61	3.39	2.19	1.53
Net Debt to NOPAT	-14.64	-21.33	171.19	-7.76	-7.26	-4.65	-1.06	0.19	-0.90	-1.47	-2.09
Long-Term Debt to NOPAT	1.15	1.11	-8.21	0.48	0.14	0.00	3.65	3.61	3.39	2.19	1.53
Altman Z-Score	3.70	3.45	4.45	4.48	5.95	3.07	2.77	3.26	3.36	5.03	7.48
Noncontrolling Interest Sharing Ratio	2.42%	1.54%	0.72%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.15	3.62	4.02	3.91	3.40	1.83	2.80	3.15	3.45	5.10	5.39
Quick Ratio	3.47	3.12	3.59	3.51	3.05	1.64	2.47	2.67	3.19	4.77	5.10
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	18	14	8.06	10	43	-164	-73	-2.85	119	129	260
Operating Cash Flow to CapEx	274.90%	295.05%	305.93%	316.88%	450.89%	313.33%	387.63%	398.32%	411.99%	649.53%	1,132.76%
Free Cash Flow to Firm to Interest Expense	193.09	22.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	1,319.62	197.37	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	839.58	130.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.34	1.21	1.21	1.24	1.30	1.10	1.16	1.05	1.08	1.11	1.14
Accounts Receivable Turnover	4.95	4.88	4.91	4.98	5.52	4.87	5.08	4.28	4.17	4.36	4.66
Inventory Turnover	19.17	18.16	18.23	21.00	23.75	23.80	29.47	28.81	32.74	34.75	39.33
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	19.99	19.61	19.91	19.94	16.62	15.25	19.53	17.56	21.48	28.42	34.41
Days Sales Outstanding (DSO)	73.69	74.82	74.30	73.28	66.11	75.01	71.90	85.25	87.63	83.78	78.33
Days Inventory Outstanding (DIO)	19.04	20.10	20.02	17.38	15.37	15.33	12.39	12.67	11.15	10.50	9.28
Days Payable Outstanding (DPO)	18.26	18.61	18.33	18.30	21.97	23.93	18.68	20.78	17.00	12.84	10.61
Cash Conversion Cycle (CCC)	74.48	76.31	76.00	72.36	59.51	66.41	65.60	77.14	81.79	81.44	77.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	380	375	366	382	375	563	718	835	838	898	911
Invested Capital Turnover	2.47	2.31	2.40	2.45	2.68	2.22	2.40	2.17	2.20	2.35	2.66
Increase / (Decrease) in Invested Capital	-6.22	-4.98	-9.28	16	-7.20	188	155	117	2.99	61	12
Enterprise Value (EV)	329	305	519	469	964	1,004	1,248	1,766	1,493	2,772	5,750
Market Capitalization	485	488	727	674	1,223	1,117	1,335	1,744	1,602	3,049	6,319
Book Value per Share	$13.99	$14.30	$14.16	$14.26	$15.75	$16.47	$19.37	$19.01	$22.01	$27.19	$34.00
Tangible Book Value per Share	$11.72	$11.47	$11.51	$11.64	$13.14	$10.32	$9.81	$9.62	$14.54	$20.09	$27.91
Total Capital	576	589	597	613	658	775	1,104	1,224	1,360	1,591	1,896
Total Debt	30	23	22	26	25	100	299	411	413	415	416
Total Long-Term Debt	13	9.92	10	13	5.06	0.00	299	411	413	415	416
Net Debt	-166	-191	-209	-205	-258	-112	-87	22	-110	-278	-569
Capital Expenditures (CapEx)	44	41	29	33	31	26	35	52	49	43	38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	169	122	137	120	111	116	165	259	233	309	345
Debt-free Net Working Capital (DFNWC)	365	336	368	351	394	328	551	648	756	1,001	1,330
Net Working Capital (NWC)	348	323	356	338	374	228	551	648	756	1,001	1,330
Net Nonoperating Expense (NNE)	2.03	0.40	-0.76	-1.00	-1.62	-0.34	11	6.81	-4.86	-15	-15
Net Nonoperating Obligations (NNO)	-166	-191	-209	-205	-258	-112	-87	22	-110	-278	-569
Total Depreciation and Amortization (D&A)	80	68	74	75	71	72	103	99	112	111	116
Debt-free, Cash-free Net Working Capital to Revenue	17.83%	13.99%	15.40%	13.08%	10.88%	11.10%	10.75%	15.36%	12.70%	15.14%	14.33%
Debt-free Net Working Capital to Revenue	38.48%	38.51%	41.38%	38.26%	38.76%	31.50%	35.87%	38.45%	41.15%	49.08%	55.29%
Net Working Capital to Revenue	36.73%	36.99%	40.05%	36.81%	36.83%	21.89%	35.87%	38.45%	41.15%	49.08%	55.29%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.29	$0.24	$0.01	$0.70	$0.96	$0.62	$1.78	$2.58	$3.00	$4.79	$6.69
Adjusted Weighted Average Basic Shares Outstanding	37.33M	37.61M	38.30M	39.28M	38.85M	39.48M	40.21M	41.45M	42.29M	42.63M	43.04M
Adjusted Diluted Earnings per Share	$0.29	$0.23	$0.01	$0.68	$0.91	$0.60	$1.71	$2.52	$2.97	$4.69	$5.95
Adjusted Weighted Average Diluted Shares Outstanding	37.63M	38.85M	39.50M	40.64M	40.94M	40.66M	41.87M	42.44M	42.73M	43.54M	48.41M
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	38.30M	39.67M	40.77M	39.57M	40.25M	41.31M	41.59M	42.44M	42.99M	43.28M	43.63M
Normalized Net Operating Profit after Tax (NOPAT)	11	8.95	9.19	18	36	24	82	114	122	189	318
Normalized NOPAT Margin	1.20%	1.03%	1.03%	1.95%	3.50%	2.32%	5.34%	6.76%	6.64%	9.29%	13.21%
Pre Tax Income Margin	1.60%	1.52%	0.56%	2.89%	4.76%	3.21%	6.20%	8.72%	9.39%	13.12%	15.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	167.33	22.55	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	124.77	14.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-312.70	-44.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-355.27	-52.39	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	283.64%	0.00%	0.00%	100.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 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	-	-	-	-	-	-	-	-	-	-	42,580,290.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	42,580,290.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.94%	10.13%	10.75%	10.49%	14.77%	16.31%	17.77%	22.36%	12.67%	7.50%	2.69%
EBITDA Growth	3,715.87%	17.80%	18.51%	22.15%	129.37%	36.14%	35.74%	-11.10%	36.47%	4.51%	-6.41%
EBIT Growth	130.65%	26.07%	25.01%	35.77%	561.43%	45.80%	43.92%	-17.45%	53.05%	2.76%	-10.43%
NOPAT Growth	112.56%	27.16%	22.04%	45.05%	1,381.58%	46.99%	48.41%	-22.50%	52.27%	17.74%	-1.22%
Net Income Growth	121.52%	31.81%	25.65%	44.75%	738.09%	44.22%	42.56%	-18.26%	68.29%	3.20%	-10.89%
EPS Growth	120.37%	29.41%	23.08%	41.18%	754.55%	31.82%	26.25%	-33.33%	48.94%	4.43%	-4.46%
Operating Cash Flow Growth	5.48%	5.48%	-19.37%	77.66%	-4.95%	28.86%	-22.51%	73.24%	-37.87%	-58.89%	315.77%
Free Cash Flow Firm Growth	-213.29%	-204.40%	-6,879.12%	-105.79%	104.26%	116.42%	192.95%	1,630.97%	-236.52%	-226.51%	-138.11%
Invested Capital Growth	0.00%	0.00%	21.59%	7.26%	-0.91%	-6.96%	-2.74%	1.36%	11.01%	31.80%	12.98%
Revenue Q/Q Growth	-0.68%	5.14%	3.16%	2.56%	3.16%	6.56%	4.46%	6.57%	-5.01%	1.67%	-0.22%
EBITDA Q/Q Growth	-58.94%	218.84%	4.82%	-10.99%	-22.89%	89.24%	4.51%	-41.70%	18.36%	44.92%	-6.41%
EBIT Q/Q Growth	-85.81%	970.44%	5.69%	-15.41%	-30.88%	135.97%	4.32%	-51.48%	28.16%	58.43%	-9.07%
NOPAT Q/Q Growth	-93.75%	2,403.75%	2.88%	-9.85%	-36.20%	148.40%	3.87%	-52.92%	25.36%	92.08%	-12.86%
Net Income Q/Q Growth	-88.75%	1,270.15%	4.27%	-9.91%	-34.88%	135.78%	3.06%	-48.34%	34.06%	44.59%	-11.01%
EPS Q/Q Growth	-89.22%	1,300.00%	3.90%	-10.00%	-34.72%	115.96%	-0.49%	-52.48%	45.83%	51.43%	-8.96%
Operating Cash Flow Q/Q Growth	-239.59%	228.11%	-60.44%	151.15%	-182.46%	257.29%	-76.21%	461.48%	-165.63%	146.91%	140.55%
Free Cash Flow Firm Q/Q Growth	-3,077.37%	7.70%	86.63%	98.42%	2,292.75%	255.51%	-24.34%	-74.04%	-295.53%	-229.43%	77.21%
Invested Capital Q/Q Growth	33.39%	-2.25%	4.46%	-21.25%	23.24%	-8.23%	9.20%	-17.93%	34.96%	8.97%	-6.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.00%	39.85%	38.65%	35.23%	39.17%	40.85%	40.64%	36.55%	39.00%	41.13%	36.76%
EBITDA Margin	7.69%	23.31%	23.69%	20.56%	15.37%	27.29%	27.30%	14.94%	18.61%	26.53%	24.88%
Operating Margin	0.69%	16.70%	16.96%	13.79%	8.59%	21.30%	21.32%	8.70%	11.11%	23.26%	20.49%
EBIT Margin	1.77%	17.99%	18.43%	15.20%	10.18%	22.55%	22.52%	10.25%	13.83%	21.56%	19.65%
Profit (Net Income) Margin	1.02%	13.24%	13.38%	11.75%	7.42%	16.42%	16.20%	7.85%	11.08%	15.76%	14.05%
Tax Burden Percent	76.02%	75.26%	74.46%	79.59%	76.03%	74.29%	73.39%	79.77%	83.07%	74.64%	73.32%
Interest Burden Percent	75.63%	97.77%	97.50%	97.15%	95.81%	97.98%	97.98%	95.98%	96.42%	97.93%	97.57%
Effective Tax Rate	23.94%	24.99%	26.35%	20.41%	20.97%	25.71%	26.19%	20.08%	17.41%	25.49%	26.13%
Return on Invested Capital (ROIC)	1.78%	44.46%	23.90%	25.80%	12.89%	32.93%	31.97%	18.49%	19.44%	37.08%	32.49%
ROIC Less NNEP Spread (ROIC-NNEP)	4.74%	56.60%	36.01%	23.66%	26.30%	30.08%	29.89%	17.10%	13.61%	40.98%	34.45%
Return on Net Nonoperating Assets (RNNOA)	0.79%	3.26%	1.38%	-4.32%	0.63%	-3.10%	-3.20%	-5.45%	-2.01%	-7.30%	-7.84%
Return on Equity (ROE)	2.57%	47.72%	25.28%	21.48%	13.51%	29.83%	28.77%	13.04%	17.43%	29.78%	24.65%
Cash Return on Invested Capital (CROIC)	-173.86%	-170.79%	-3.01%	14.82%	21.09%	31.33%	28.18%	28.79%	14.63%	-1.15%	13.94%
Operating Return on Assets (OROA)	1.89%	19.57%	20.41%	16.85%	11.50%	25.68%	25.11%	11.70%	15.91%	24.81%	21.40%
Return on Assets (ROA)	1.09%	14.40%	14.82%	13.03%	8.38%	18.69%	18.06%	8.96%	12.74%	18.14%	15.31%
Return on Common Equity (ROCE)	2.57%	47.72%	25.28%	21.48%	13.51%	29.83%	28.77%	13.04%	17.43%	29.78%	24.65%
Return on Equity Simple (ROE_SIMPLE)	16.11%	16.52%	16.75%	0.00%	19.78%	20.46%	21.12%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2.53	63	65	59	37	93	97	45	57	109	95
NOPAT Margin	0.53%	12.52%	12.49%	10.98%	6.79%	15.83%	15.74%	6.95%	9.18%	17.33%	15.14%
Net Nonoperating Expense Percent (NNEP)	-2.96%	-12.13%	-12.11%	2.14%	-13.42%	2.85%	2.08%	1.39%	5.84%	-3.90%	-1.96%
Return On Investment Capital (ROIC_SIMPLE)	-	4.37%	-	-	-	5.36%	5.27%	2.40%	2.93%	5.57%	4.63%
Cost of Revenue to Revenue	64.00%	60.15%	61.35%	64.77%	60.83%	59.15%	59.36%	63.45%	61.00%	58.87%	63.24%
SG&A Expenses to Revenue	35.31%	23.15%	21.70%	21.44%	30.58%	19.54%	19.32%	18.75%	27.89%	17.87%	16.27%
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	35.31%	23.15%	21.70%	21.44%	30.58%	19.54%	19.32%	27.85%	27.89%	17.87%	16.27%
Earnings before Interest and Taxes (EBIT)	8.49	91	96	81	56	132	138	67	86	136	124
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	37	118	123	110	85	160	167	98	116	167	157
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.02	2.49	2.48	2.59	3.04	3.44	3.89	4.27	4.25	1.84	2.29
Price to Tangible Book Value (P/TBV)	3.02	3.59	3.45	3.51	4.06	4.46	4.93	5.20	5.14	2.36	2.72
Price to Revenue (P/Rev)	1.02	1.33	1.37	1.49	1.75	2.07	2.41	2.63	2.63	1.13	1.48
Price to Earnings (P/E)	12.54	15.09	14.80	14.94	15.37	16.80	18.40	21.95	20.57	8.93	12.18
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.98%	6.63%	6.76%	6.70%	6.51%	5.95%	5.44%	4.56%	4.86%	11.20%	8.21%
Enterprise Value to Invested Capital (EV/IC)	1.87	2.41	2.43	3.09	3.24	4.16	4.69	6.31	5.04	1.97	2.69
Enterprise Value to Revenue (EV/Rev)	1.11	1.36	1.39	1.36	1.70	1.93	2.28	2.39	2.50	1.05	1.33
Enterprise Value to EBITDA (EV/EBITDA)	6.33	7.55	7.54	7.15	8.23	8.84	9.96	11.27	11.46	4.81	6.26
Enterprise Value to EBIT (EV/EBIT)	9.65	11.16	10.87	10.02	11.06	11.56	12.75	14.60	14.64	6.18	8.16
Enterprise Value to NOPAT (EV/NOPAT)	14.34	16.50	16.19	14.63	15.97	16.63	18.20	21.09	21.18	8.52	10.90
Enterprise Value to Operating Cash Flow (EV/OCF)	9.93	11.97	13.62	9.94	13.18	13.13	16.96	13.29	16.36	10.66	8.11
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	21.54	15.28	12.80	16.40	22.08	36.29	0.00	20.44
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.43	0.40	0.38	0.35	0.34	0.32	0.29	0.28	0.27	0.27	0.25
Long-Term Debt to Equity	0.43	0.40	0.38	0.35	0.34	0.32	0.29	0.28	0.27	0.27	0.25
Financial Leverage	0.17	0.06	0.04	-0.18	0.02	-0.10	-0.11	-0.32	-0.15	-0.18	-0.23
Leverage Ratio	1.84	1.73	1.79	1.73	1.72	1.64	1.63	1.59	1.57	1.53	1.52
Compound Leverage Factor	1.39	1.69	1.75	1.68	1.65	1.61	1.59	1.52	1.51	1.50	1.48
Debt to Total Capital	30.14%	28.61%	27.30%	26.07%	25.47%	23.97%	22.69%	21.96%	21.44%	21.23%	20.28%
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	30.14%	28.61%	27.30%	26.07%	25.47%	23.97%	22.69%	21.96%	21.44%	21.23%	20.28%
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	69.86%	71.39%	72.70%	73.93%	74.53%	76.03%	77.31%	78.04%	78.56%	78.77%	79.72%
Debt to EBITDA	1.25	1.19	1.13	1.07	0.95	0.87	0.80	0.82	0.77	0.76	0.78
Net Debt to EBITDA	0.48	0.17	0.10	-0.72	-0.25	-0.63	-0.59	-1.12	-0.55	-0.38	-0.72
Long-Term Debt to EBITDA	1.25	1.19	1.13	1.07	0.95	0.87	0.80	0.82	0.77	0.76	0.78
Debt to NOPAT	2.83	2.59	2.42	2.19	1.85	1.63	1.46	1.53	1.42	1.35	1.35
Net Debt to NOPAT	1.09	0.37	0.22	-1.47	-0.48	-1.19	-1.08	-2.09	-1.02	-0.67	-1.26
Long-Term Debt to NOPAT	2.83	2.59	2.42	2.19	1.85	1.63	1.46	1.53	1.42	1.35	1.35
Altman Z-Score	3.34	4.22	4.25	4.69	5.16	6.02	6.60	7.01	7.29	4.87	5.36
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	3.61	4.52	4.29	5.10	5.60	6.02	5.61	5.39	6.78	7.27	6.21
Quick Ratio	2.96	3.59	3.38	4.77	5.19	5.64	5.28	5.10	6.26	6.79	5.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,115	-1,029	-138	-2.17	48	169	128	33	-65	-214	-49
Operating Cash Flow to CapEx	-1,153.00%	2,070.90%	594.93%	1,524.86%	-1,500.78%	2,170.27%	520.85%	3,614.30%	-1,396.53%	856.36%	1,659.08%
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	1.07	1.09	1.11	1.11	1.13	1.14	1.12	1.14	1.15	1.15	1.09
Accounts Receivable Turnover	3.01	3.80	3.78	4.36	3.23	4.02	3.58	4.66	3.33	3.47	3.26
Inventory Turnover	55.26	62.41	56.55	34.75	59.20	67.05	64.16	39.33	71.44	79.13	71.27
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	16.12	38.87	34.30	28.42	20.93	43.34	36.00	34.41	28.49	39.91	36.66
Days Sales Outstanding (DSO)	121.44	95.94	96.55	83.78	112.85	90.88	102.00	78.33	109.50	105.15	111.90
Days Inventory Outstanding (DIO)	6.60	5.85	6.45	10.50	6.17	5.44	5.69	9.28	5.11	4.61	5.12
Days Payable Outstanding (DPO)	22.65	9.39	10.64	12.84	17.44	8.42	10.14	10.61	12.81	9.15	9.96
Cash Conversion Cycle (CCC)	105.39	92.40	92.36	81.44	101.58	87.90	97.55	77.01	101.79	100.62	107.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,117	1,092	1,141	898	1,107	1,016	1,110	911	1,229	1,339	1,254
Invested Capital Turnover	3.39	3.55	1.91	2.35	1.90	2.08	2.03	2.66	2.12	2.14	2.15
Increase / (Decrease) in Invested Capital	1,117	1,092	203	61	-10	-76	-31	12	122	323	144
Enterprise Value (EV)	2,095	2,633	2,772	2,772	3,585	4,229	5,201	5,750	6,199	2,639	3,366
Market Capitalization	1,936	2,573	2,735	3,049	3,692	4,531	5,509	6,319	6,498	2,848	3,754
Book Value per Share	$22.29	$23.83	$25.44	$27.19	$28.06	$30.24	$32.55	$34.00	$35.01	$35.29	$38.56
Tangible Book Value per Share	$14.89	$16.55	$18.26	$20.09	$21.03	$23.31	$25.67	$27.91	$28.98	$27.54	$32.47
Total Capital	1,372	1,447	1,517	1,591	1,629	1,734	1,833	1,896	1,944	1,965	2,060
Total Debt	413	414	414	415	415	416	416	416	417	417	418
Total Long-Term Debt	413	414	414	415	415	416	416	416	417	417	418
Net Debt	159	59	38	-278	-107	-302	-308	-569	-298	-209	-388
Capital Expenditures (CapEx)	12	8.37	12	11	9.46	10	10	8.25	14	11	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	527	494	551	309	538	440	520	345	691	754	670
Debt-free Net Working Capital (DFNWC)	781	848	927	1,001	1,061	1,158	1,243	1,330	1,407	1,380	1,476
Net Working Capital (NWC)	781	848	927	1,001	1,061	1,158	1,243	1,330	1,407	1,380	1,476
Net Nonoperating Expense (NNE)	-2.35	-3.61	-4.64	-4.14	-3.47	-3.46	-2.81	-5.88	-12	9.95	6.83
Net Nonoperating Obligations (NNO)	159	59	38	-278	-107	-302	-308	-569	-298	-209	-388
Total Depreciation and Amortization (D&A)	28	27	27	29	29	28	29	31	30	31	33
Debt-free, Cash-free Net Working Capital to Revenue	27.82%	25.46%	27.67%	15.14%	25.51%	20.08%	22.74%	14.33%	27.94%	29.95%	26.41%
Debt-free Net Working Capital to Revenue	41.28%	43.74%	46.60%	49.08%	50.25%	52.79%	54.40%	55.29%	56.83%	54.79%	58.19%
Net Working Capital to Revenue	41.28%	43.74%	46.60%	49.08%	50.25%	52.79%	54.40%	55.29%	56.83%	54.79%	58.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.11	$1.57	$1.63	$1.48	$0.95	$2.24	$2.31	$1.19	$1.59	$2.31	$2.09
Adjusted Weighted Average Basic Shares Outstanding	42.50M	42.56M	42.68M	42.63M	42.87M	43.02M	43.09M	43.04M	43.37M	43.07M	42.33M
Adjusted Diluted Earnings per Share	$0.11	$1.54	$1.60	$1.44	$0.94	$2.03	$2.02	$0.96	$1.40	$2.12	$1.93
Adjusted Weighted Average Diluted Shares Outstanding	42.98M	43.46M	43.66M	43.54M	43.71M	47.46M	49.18M	48.41M	49.22M	46.86M	45.84M
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	43.34M	43.37M	43.25M	43.28M	43.59M	43.55M	43.52M	43.63M	43.86M	42.58M	42.52M
Normalized Net Operating Profit after Tax (NOPAT)	2.53	63	65	59	37	93	97	45	57	109	95
Normalized NOPAT Margin	0.53%	12.52%	12.49%	10.98%	6.79%	15.83%	15.74%	6.95%	9.18%	17.33%	15.14%
Pre Tax Income Margin	1.34%	17.59%	17.97%	14.77%	9.76%	22.10%	22.07%	9.84%	13.34%	21.11%	19.17%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Stride, Inc. (NYSE: LRN) has shown a pattern of growing revenue and sizable cash flow generation over the last four years, with quarterly results reflecting seasonality tied to education-related demand. Below are the most notable trends pulled from the quarterly cash flow, income statement, and balance sheet data provided for 2022 through mid-2026.

Revenue growth to 2026: Revenue has trended higher over the period, with Q2 2026 operating revenue around $631.3 million, up from roughly $504.9 million in Q2 2024 and roughly $534.2 million in Q4 2024. This indicates a growing top line over time.
Consistent profitability in recent quarters: Net income remained positive in the latest quarters, with Q2 2026 net income about $99.5 million and Q3 2025 near $99.3 million, signaling sustained profitability despite quarterly fluctuations.
Strong operating cash flow in recent quarters: Net cash from continuing operating activities has been robust in the latest periods, including about $298.3 million in Q4 2025 and about $223.4 million in Q2 2025, highlighting solid cash generation from core operations.
Free cash flow visibility: Free cash flow has been solid in recent quarters (e.g., around $290 million in Q4 2025 when CFO was about $298 million and capex around $8.3–$11 million), plus positive FCF in Q2 2026 and Q3 2025, leaving room for potential deleveraging, buybacks, or strategic investments.

Seasonality and leverage profile: The company shows seasonal revenue patterns consistent with education-related demand, and debt levels have been relatively stable in the mid-$400 million range (long-term debt around $415–$417 million across several quarters), which is generally manageable given the cash flow generated.
Cash balance remains solid: Cash and equivalents have been in the mid-to-high hundreds of millions, with Q2 2026 cash & equivalents around $497 million, supporting liquidity for operations and potential returns to shareholders.

Quarterly cash flow may be volatile: Notably, quarterly net cash from operating activities has been negative in some periods (e.g., Q1 2026 roughly -$195.8 million; Q1 2025 roughly -$142.0 million), reflecting quarter-to-quarter variability in working capital and operating activity.
Negative cash flow in some investing/financing periods: Investing activities have shown net cash outflows in various quarters (reflecting ongoing capex and investments), and financing activities occasionally contributed to cash outflows as well, which can pressure cash balance in tight periods.
Net change in cash can be negative in select quarters: Several quarters show a negative net change in cash (for example, Q1 2026 and other early-year periods), underscoring the impact of seasonality and financing/investing activity on cash position in those windows.

05/17/26 07:28 PM ETAI Generated. May Contain Errors.

Stride Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Stride's financial year ends in June. Their financial year 2025 ended on June 30, 2025.

Stride's net income appears to be on an upward trend, with a most recent value of $287.94 million in 2025, rising from $9.33 million in 2015. The previous period was $204.18 million in 2024. View Stride's forecast to see where analysts expect Stride to go next.

Stride's total operating income in 2025 was $360.09 million, based on the following breakdown:

Total Gross Profit: $943.92 million
Total Operating Expenses: $583.83 million

Over the last 10 years, Stride's total revenue changed from $948.29 million in 2015 to $2.41 billion in 2025, a change of 153.6%.

Stride's total liabilities were at $814.34 million at the end of 2025, a 9.4% increase from 2024, and a 402.5% increase since 2015.

In the past 10 years, Stride's cash and equivalents has ranged from $195.85 million in 2015 to $782.50 million in 2025, and is currently $782.50 million as of their latest financial filing in 2025.

Over the last 10 years, Stride's book value per share changed from 13.99 in 2015 to 34.00 in 2025, a change of 142.9%.

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Financial statements for NYSE:LRN last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Stride (LRN) Financials

Financials Breakdown Chart

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Stride Financials - Frequently Asked Questions

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Stride (LRN) Financials

Annual Income Statements for Stride

Quarterly Income Statements for Stride

Annual Cash Flow Statements for Stride

Quarterly Cash Flow Statements for Stride

Annual Balance Sheets for Stride

Quarterly Balance Sheets for Stride

Annual Metrics And Ratios for Stride

Quarterly Metrics And Ratios for Stride

Financials Breakdown Chart

Key Financial Trends

Stride Financials - Frequently Asked Questions

When does Stride's fiscal year end?

How has Stride's net income changed over the last 10 years?

What is Stride's operating income?

How has Stride's revenue changed over the last 10 years?

How much debt does Stride have?

How much cash does Stride have?

How has Stride's book value per share changed over the last 10 years?

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