FY2025 · ended Dec 31, 2025 · Revenue $648.86M, +3.9% YoY · Filed Mar 12, 2026
American Public Education, Inc. (APEI) files with the SEC under industry code 8200, Services-Educational Services. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $648.9 million and net income of $31.6 million. Free cash flow was $46.1 million. As of Jun 30, 2026 it held $222.8 million in cash and investments and $153.5 million in total debt.
Revenue (TTM)
$668.01M
+3.6% vs year-ago TTM
Net income (TTM)
$45.67M
+59.6% vs year-ago TTM
Operating cash flow (TTM)
$85.60M
+26.8% vs year-ago TTM
Free cash flow (TTM)
$70.07M
+39.5% vs year-ago TTM
EPS (TTM)
$2.43
+130.6% vs year-ago TTM
Dividend per share
None
Shares outstanding
18.38M
+2.1% vs prior year
Net cash
$69.34M
as of Jun 30, 2026
Operating margin
9.6%
FY 2026
Company profile
- Industry
- Services-Educational Services (SIC 8200)
- Listed as
- APEI (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Charles Town, WV
- SEC filer status
- Accelerated filer
- SEC CIK
- 1201792
Other Services-Educational Services companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $648.9M | $624.6M | $600.5M | $606.3M | $418.8M |
| Operating income | $47.9M | $33.1M | -$48.3M | -$137.3M | $30.4M |
| Net income | $31.6M | $16.1M | -$47.3M | -$115.0M | $17.8M |
| Diluted EPS | $1.36 | $0.55 | -$2.93 | -$6.08 | $0.97 |
| Operating cash flow | $62.0M | $48.9M | $45.5M | $29.2M | $16.3M |
| Free cash flow | $46.1M | $27.8M | $31.6M | $12.8M | $4.4M |
| Total assets | $521.4M | $570.1M | $557.4M | $615.1M | $725.6M |
| Total liabilities | $226.6M | $266.2M | $265.4M | $265.3M | $310.0M |
| Stockholders' equity | $294.8M | $303.9M | $292.0M | $349.7M | $415.6M |
| Cash and investments | $174.1M | $131.9M | $116.7M | — | — |
| Total debt | $163.0M | $200.6M | $204.7M | $209.0M | $243.7M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Officer or director change, Regulation FD disclosure
|
Oct 27, 2026 | Oct 22, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 10, 2026 | Aug 10, 2026 |
| 10-Q | Quarterly report | Aug 10, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
Aug 5, 2026 | Aug 5, 2026 |
| 8-K |
Current report
Shareholder vote results
|
May 26, 2026 | May 22, 2026 |
| 10-Q | Quarterly report | May 11, 2026 | Mar 31, 2026 |
All 1000 American Public Education, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.