STRA · Strategic 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.

Price · STRA

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$1.27B	$1.22B	$1.13B	$1.07B	$1.13B	$1.03B
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	$424.97M	$412.16M	$384.44M	$379.82M	$361.35M	$295.23M
Total Operating Expenses	$1.09B	$1.06B	$1.04B	$994.72M	$1.06B	$918.27M
D&A	$48.40M	$44.40M	$48.40M	$52.00M	$59.10M	$51.80M
Operating Income	$174.23M	$155.63M	$95.32M	$70.76M	$73.91M	$109.38M
Interest Expense	-	-	-	-	-	-
Income Tax	$50.78M	$48.75M	$30.93M	$22.90M	$21.51M	$27.69M
Net Income	$126.61M	$112.68M	$69.79M	$46.67M	$55.09M	$86.27M
EPS - Basic	$5.57	$4.81	$2.98	$1.97	$2.30	$3.81
EPS - Diluted	$5.41	$4.67	$2.91	$1.94	$2.28	$3.77

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$140.76M	$137.07M	$168.48M	$213.67M	$268.92M	$187.51M
Accounts Receivable	$78.20M	$76.13M	$76.10M	$62.95M	$51.28M	$50.17M
Inventory	-	-	-	-	-	-
Accounts Payable	-	-	-	-	-	-
Current Assets	$277.86M	$304.94M	$329.07M	$329.06M	$367.79M	$286.12M
Total Assets	$2.04B	$2.05B	$2.13B	$2.16B	$2.31B	$2.30B
Current Liabilities	$217.94M	$216.46M	$209.62M	$209.94M	$195.75M	$200.05M
Long-term Debt	-	$0	$61.40M	$101.40M	$141.63M	$0
Total Liabilities	$392.13M	$387.24M	$472.69M	$525.96M	$591.89M	$547.49M
Stockholders' Equity	$1.65B	$1.66B	$1.65B	$1.64B	$1.71B	$1.75B
Retained Earnings	$255.50M	$218.41M	$168.87M	$159.69M	$174.57M	$179.65M

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$198.20M	$169.33M	$117.12M	$126.05M	$180.53M	$142.91M
Investing Cash Flow	$8.51M	($64.36M)	($48.55M)	($31.36M)	($33.09M)	($642.19M)
Financing Cash Flow	($206.16M)	($136.77M)	($113.61M)	($142.36M)	($67.89M)	$279.19M
CapEx	$44.25M	$40.58M	$36.94M	$43.17M	$49.43M	$46.81M
Free Cash Flow	$153.95M	$128.75M	$80.18M	$82.88M	$131.09M	$96.09M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	13.7%	12.8%	8.4%	6.6%	6.5%	10.6%
EBITDA margin	17.6%	16.4%	12.7%	11.5%	11.8%	15.7%
Net margin	10.0%	9.2%	6.2%	4.4%	4.9%	8.4%
Free cash flow margin	12.1%	10.6%	7.1%	7.8%	11.6%	9.4%
FCF / Net income	1.22	1.14	1.15	1.78	2.38	1.11
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	33.5%	33.8%	33.9%	35.6%	31.9%	28.7%
Effective tax rate	28.6%	30.2%	30.7%	32.9%	28.1%	24.3%
Return on assets	6.2%	5.5%	3.3%	2.2%	2.4%	3.8%
Return on equity	7.7%	6.8%	4.2%	2.9%	3.2%	4.9%
Return on invested capital	-	6.5%	3.9%	2.7%	2.9%	4.7%
Liquidity
Current ratio	1.27	1.41	1.57	1.57	1.88	1.43
Quick ratio	1.27	1.41	1.57	1.57	1.88	1.43
Cash ratio	0.65	0.63	0.80	1.02	1.37	0.94
Leverage
Debt / Equity	-	0.00	0.04	0.06	0.08	0.00
Debt / Assets	-	0.00	0.03	0.05	0.06	0.00
Debt / EBITDA	-	0.00	0.43	0.83	1.06	0.00
Interest coverage	-	-	-	-	-	-
Equity multiplier	1.24	1.23	1.29	1.32	1.35	1.31
Liabilities / Assets	0.19	0.19	0.22	0.24	0.26	0.24
Efficiency
Asset turnover	0.62	0.60	0.53	0.49	0.49	0.45
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	23d	23d	25d	22d	17d	18d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	14.8x	20.0x	31.7x	40.4x	25.4x	25.3x
P / B	1.1x	1.4x	1.3x	1.1x	0.8x	1.2x
P / S	1.5x	1.8x	2.0x	1.8x	1.2x	2.1x
EV / EBITDA	7.8x	10.6x	14.7x	14.4x	9.5x	12.4x
Growth
Revenue growth (YoY)	4.0%	7.7%	6.3%	-5.9%	10.1%	3.1%
Revenue CAGR (3y)	6.0%	2.5%	3.3%	2.2%	36.9%	-
Revenue CAGR (5y)	4.3%	4.1%	20.8%	-	-	-
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	12.0%	63.3%	34.7%	-4.3%	-32.4%	-1.0%
Net income growth (YoY)	12.4%	61.5%	49.5%	-15.3%	-36.1%	6.3%
EPS growth (YoY)	15.8%	60.5%	50.0%	-14.9%	-39.5%	2.7%
EPS CAGR (3y)	40.8%	27.0%	-8.3%	-19.1%	-	27.0%
EPS CAGR (5y)	7.5%	4.9%	-	1.1%	-6.6%	0.2%
FCF growth (YoY)	19.6%	60.6%	-3.3%	-36.8%	36.4%	-41.2%
FCF CAGR (5y)	9.9%	-4.7%	32.9%	25.7%	33.1%	8.4%
Book value growth (YoY)	-1.0%	0.6%	1.0%	-4.6%	-2.0%	19.5%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$1.27B total

USHigher Education Segment$868.24M · 68.5%

Australia New Zealand Segment$251.58M · 19.8%

Education Technology Services$148.40M · 11.7%

Product / service

$868.24M total

Tuition Grants And Scholarship$830.06M · 95.6%

Service Other$38.18M · 4.4%

Geographic

$1.27B total

US$1.02B · 80.2%

Non Us$251.58M · 19.8%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

2.78

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

6/9

Neutral

✓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 Strategic Education against the 5 most active filers in the same SIC group.

Dividends

$2.40/share trailing 12 months · 0.0% YoY

Ex-date	Per share
May 22, 2026	$0.6000
Mar 9, 2026	$0.6000
Dec 1, 2025	$0.6000
Sep 5, 2025	$0.6000
May 23, 2025	$0.6000
Mar 10, 2025	$0.6000
Dec 2, 2024	$0.6000
Sep 6, 2024	$0.6000
May 23, 2024	$0.6000
Mar 8, 2024	$0.6000
Nov 24, 2023	$0.6000
Aug 31, 2023	$0.6000
May 25, 2023	$0.6000
Mar 3, 2023	$0.6000
Nov 25, 2022	$0.6000
Sep 1, 2022	$0.6000
May 26, 2022	$0.6000
Mar 4, 2022	$0.6000
Nov 26, 2021	$0.6000
Sep 2, 2021	$0.6000
May 27, 2021	$0.6000
Mar 5, 2021	$0.6000
Nov 27, 2020	$0.6000
Sep 3, 2020	$0.6000