ATGE · Adtalem Global Education Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$1.79B	$1.58B	$1.45B	$1.39B	$1.11B	$1.05B
Cost of Revenue	$771.43M	$698.55M	$648.49M	$659.78M	$489.23M	$490.05M
Gross Profit	$1.02B	$886.10M	$802.34M	$727.35M	$623.15M	$561.95M
R&D	-	-	-	-	-	-
SG&A	$672.00M	$632.97M	$586.01M	$568.06M	$420.27M	$395.84M
Total Operating Expenses	$1.45B	$1.37B	$1.28B	$1.31B	$950.90M	$909.74M
D&A	$40.70M	$39.68M	$41.58M	$44.57M	$37.60M	$34.43M
Operating Income	$341.54M	$217.05M	$168.17M	$80.46M	$142.26M	$237.18M
Interest Expense	$52.32M	$63.66M	$63.10M	$129.35M	$41.37M	$19.51M
Income Tax	$65.84M	$26.22M	$10.28M	($15.24M)	$25.25M	($6.36M)
Net Income	$237.06M	$136.78M	$93.36M	$317.70M	$76.91M	($85.33M)
EPS - Basic	$6.39	$3.47	$2.08	$6.57	$1.50	($1.59)
EPS - Diluted	$6.18	$3.39	$2.05	$6.57	$1.49	($1.58)

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$199.60M	$219.31M	$273.69M	$346.97M	$494.61M	$500.52M
Accounts Receivable	$143.43M	$124.07M	$100.13M	$78.98M	$65.91M	$87.04M
Inventory	-	-	-	-	-	-
Accounts Payable	$105.02M	$102.63M	$81.81M	$57.14M	$56.07M	$46.48M
Current Assets	$416.19M	$418.08M	$478.54M	$556.04M	$1.51B	$692.77M
Total Assets	$2.75B	$2.74B	$2.81B	$3.03B	$3.05B	$2.23B
Current Liabilities	$507.93M	$487.66M	$431.20M	$417.53M	$408.81M	$345.98M
Long-term Debt	$552.67M	$648.71M	$695.08M	$838.91M	$1.07B	$286.12M
Total Liabilities	$1.32B	$1.37B	$1.35B	$1.52B	$1.75B	$915.41M
Stockholders' Equity	$1.43B	$1.37B	$1.46B	$1.51B	$1.30B	$1.31B
Retained Earnings	$2.78B	$2.54B	$2.40B	$2.32B	$2.01B	$1.93B

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$337.90M	$295.77M	$202.91M	$10.42M	$192.20M	$107.69M
Investing Cash Flow	($41.92M)	($47.85M)	$12.74M	($551.63M)	($56.69M)	$382.52M
Financing Cash Flow	($316.02M)	($301.80M)	($288.51M)	($424.48M)	$676.47M	($256.11M)
CapEx	$50.33M	$48.89M	$37.01M	$31.05M	$48.66M	$44.14M
Free Cash Flow	$287.57M	$246.88M	$165.90M	($20.63M)	$143.53M	$63.55M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	56.9%	55.9%	55.3%	52.4%	56.0%	53.4%
Operating margin	19.1%	13.7%	11.6%	5.8%	12.8%	22.5%
EBITDA margin	21.4%	16.2%	14.5%	9.0%	16.2%	25.8%
Net margin	13.3%	8.6%	6.4%	22.9%	6.9%	-8.1%
Free cash flow margin	16.1%	15.6%	11.4%	-1.5%	12.9%	6.0%
FCF / Net income	1.21	1.80	1.78	-0.06	1.87	-0.74
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	37.6%	39.9%	40.4%	41.0%	37.8%	37.6%
Effective tax rate	21.7%	16.1%	9.9%	-5.0%	24.7%	-
Return on assets	8.6%	5.0%	3.3%	10.5%	2.5%	-3.8%
Return on equity	16.5%	10.0%	6.4%	21.1%	5.9%	-6.5%
Return on invested capital	13.5%	9.0%	7.0%	3.4%	4.5%	11.7%
Liquidity
Current ratio	0.82	0.86	1.11	1.33	3.71	2.00
Quick ratio	0.82	0.86	1.11	1.33	3.71	2.00
Cash ratio	0.39	0.45	0.63	0.83	1.21	1.45
Leverage
Debt / Equity	0.39	0.47	0.48	0.56	0.82	0.22
Debt / Assets	0.20	0.24	0.25	0.28	0.35	0.13
Debt / EBITDA	1.45	2.53	3.31	6.71	5.94	1.05
Interest coverage	6.5x	3.4x	2.7x	0.6x	3.4x	12.2x
Equity multiplier	1.92	2.00	1.93	2.01	2.35	1.70
Liabilities / Assets	0.48	0.50	0.48	0.50	0.57	0.41
Efficiency
Asset turnover	0.65	0.58	0.52	0.46	0.36	0.47
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	29d	29d	25d	21d	22d	30d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	50d	54d	46d	32d	42d	35d
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	-	-	-
P / B	-	-	-	-	-	-
P / S	-	-	-	-	-	-
EV / EBITDA	-	-	-	-	-	-
Growth
Revenue growth (YoY)	12.9%	9.2%	4.6%	24.7%	5.7%	-15.1%
Revenue CAGR (3y)	8.8%	12.5%	11.3%	3.8%	1.0%	-16.5%
Revenue CAGR (5y)	11.2%	5.0%	6.1%	-5.2%	-9.6%	-11.2%
Gross profit growth (YoY)	14.8%	10.4%	10.3%	16.7%	10.9%	-8.8%
Operating income growth (YoY)	57.4%	29.1%	109.0%	-43.4%	-40.0%	39.4%
Net income growth (YoY)	73.3%	46.5%	-70.6%	313.1%	-	-
EPS growth (YoY)	82.3%	65.4%	-68.8%	340.9%	-	-
EPS CAGR (3y)	-2.0%	31.5%	-	60.1%	40.3%	-
EPS CAGR (5y)	-	16.2%	30.6%	28.0%	-	-
FCF growth (YoY)	16.5%	48.8%	-	-	125.8%	-54.6%
FCF CAGR (5y)	35.2%	12.0%	-0.8%	-	-2.4%	-11.1%
Book value growth (YoY)	4.7%	-6.1%	-3.2%	15.7%	-0.7%	-5.8%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-06-30.

Business segments

$1.79B total

Chamberlain University Segment$725.77M · 40.6%

Walden University Segment$693.43M · 38.8%

Medical And Veterinary$369.09M · 20.6%

Product / service

$735.65M total

Tuition$725.77M · 98.7%

Other Services$9.87M · 1.3%

Geographic

$1.79B total

Domestic Operations$1.42B · 79.4%

Barbados St.Kitts And St.Maarten$369.09M · 20.6%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

2.32

Grey zone

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

8/9

Strong

✓Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
✓Long-term debt decreased
✗Current ratio improved
✓No share dilution
✓Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Services-Educational Services

Company	Revenue (last FY)	Net margin	ROE
UDMY	-	-	1.8%
APEI	$648.86M	4.9%	10.7%
NRDY	$178.99M	-22.3%	-210.0%
PRDO	$846.10M	18.9%	16.4%
UTI	$835.62M	7.5%	19.2%

Comparing Adtalem Global Education Inc. against the 5 most active filers in the same SIC group.