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.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $305.93M | - | $319.95M | $321.47M | $303.59M | - | $305.96M | $312.27M | $290.25M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $107.97M | - | $105.93M | $106.78M | $103.60M | - | $106.21M | $105.11M | $96.69M | - |
| Total Operating Expenses | $264.84M | - | $282.91M | $275.71M | $263.80M | - | $269.63M | $270.34M | $248.89M | - |
| D&A | $10.93M | - | $10.81M | $11.16M | $11.20M | - | - | - | $11.07M | - |
| Operating Income | $41.09M | - | $37.04M | $45.76M | $39.79M | - | $36.33M | $41.92M | $41.36M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $9.48M | - | $10.14M | $13.11M | $12.26M | - | $10.84M | $11.90M | $13.45M | - |
| Net Income | $32.81M | - | $26.63M | $32.33M | $29.74M | - | $27.75M | $29.90M | $29.70M | - |
| EPS - Basic | $1.52 | - | $1.18 | $1.41 | $1.28 | - | $1.18 | $1.28 | $1.27 | - |
| EPS - Diluted | $1.48 | - | $1.15 | $1.37 | $1.24 | - | $1.15 | $1.24 | $1.23 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $150.35M | $140.76M | $151.46M | $133.60M | $144.22M | $137.07M | $195.89M | $230.11M | $222.12M | $168.48M |
| Accounts Receivable | $86.19M | $78.20M | $114.88M | $97.88M | $90.31M | $76.13M | $105.80M | $89.64M | $83.08M | $76.10M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $303.84M | $277.86M | $346.43M | $319.94M | $328.29M | $304.94M | $383.51M | $398.87M | $390.45M | $329.07M |
| Total Assets | $2.08B | $2.04B | $2.11B | $2.09B | $2.07B | $2.05B | $2.19B | $2.18B | $2.16B | $2.13B |
| Current Liabilities | $262.93M | $217.94M | $283.48M | $254.48M | $259.44M | $216.46M | $285.84M | $253.44M | $261.72M | $209.62M |
| Long-term Debt | - | - | - | - | - | $0 | $0 | $61.33M | $61.26M | $61.40M |
| Total Liabilities | $443.92M | $392.13M | $455.86M | $424.81M | $430.90M | $387.24M | $470.73M | $499.42M | $512.65M | $472.69M |
| Stockholders' Equity | $1.63B | $1.65B | $1.66B | $1.67B | $1.64B | $1.66B | $1.72B | $1.68B | $1.64B | $1.65B |
| Retained Earnings | $265.79M | $255.50M | $241.10M | $236.08M | $225.44M | $218.41M | $210.19M | $198.91M | $183.80M | $168.87M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $87.37M | - | - | - | $67.66M | - | - | - | $77.63M | - |
| Investing Cash Flow | ($10.18M) | - | - | - | ($1.70M) | - | - | - | ($1.00M) | - |
| Financing Cash Flow | ($66.08M) | - | - | - | ($56.09M) | - | - | - | ($18.42M) | - |
| CapEx | $10.07M | - | - | - | $10.32M | - | - | - | $9.19M | - |
| Free Cash Flow | $77.31M | - | - | - | $57.34M | - | - | - | $68.44M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 13.4% | - | 11.6% | 14.2% | 13.1% | - | 11.9% | 13.4% | 14.2% | - |
| EBITDA margin | 17.0% | - | 15.0% | 17.7% | 16.8% | - | - | - | 18.1% | - |
| Net margin | 10.7% | - | 8.3% | 10.1% | 9.8% | - | 9.1% | 9.6% | 10.2% | - |
| Free cash flow margin | 25.3% | - | - | - | 18.9% | - | - | - | 23.6% | - |
| FCF / Net income | 2.36 | - | - | - | 1.93 | - | - | - | 2.30 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 35.3% | - | 33.1% | 33.2% | 34.1% | - | 34.7% | 33.7% | 33.3% | - |
| Effective tax rate | 22.4% | - | 27.6% | 28.9% | 29.2% | - | 28.1% | 28.5% | 31.2% | - |
| Return on assets | 1.6% | - | 1.3% | 1.5% | 1.4% | - | 1.3% | 1.4% | 1.4% | - |
| Return on equity | 2.0% | - | 1.6% | 1.9% | 1.8% | - | 1.6% | 1.8% | 1.8% | - |
| Return on invested capital | - | - | - | - | - | - | 1.5% | 1.7% | 1.7% | - |
| Liquidity | ||||||||||
| Current ratio | 1.16 | 1.27 | 1.22 | 1.26 | 1.27 | 1.41 | 1.34 | 1.57 | 1.49 | 1.57 |
| Quick ratio | 1.16 | 1.27 | 1.22 | 1.26 | 1.27 | 1.41 | 1.34 | 1.57 | 1.49 | 1.57 |
| Cash ratio | 0.57 | 0.65 | 0.53 | 0.52 | 0.56 | 0.63 | 0.69 | 0.91 | 0.85 | 0.80 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | 0.00 | 0.00 | 0.04 | 0.04 | 0.04 |
| Debt / Assets | - | - | - | - | - | 0.00 | 0.00 | 0.03 | 0.03 | 0.03 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | 1.17 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.27 | 1.24 | 1.28 | 1.25 | 1.26 | 1.23 | 1.27 | 1.30 | 1.31 | 1.29 |
| Liabilities / Assets | 0.21 | 0.19 | 0.22 | 0.20 | 0.21 | 0.19 | 0.22 | 0.23 | 0.24 | 0.22 |
| Efficiency | ||||||||||
| Asset turnover | 0.15 | - | 0.15 | 0.15 | 0.15 | - | 0.14 | 0.14 | 0.13 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 103d | - | 131d | 111d | 109d | - | 126d | 105d | 104d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 56.1x | - | 74.8x | 62.1x | 67.7x | - | 80.5x | 89.2x | 84.7x | - |
| P / B | 1.1x | - | 1.2x | 1.2x | 1.2x | - | 1.3x | 1.6x | 1.5x | - |
| P / S | 6.0x | - | 6.2x | 6.2x | 6.7x | - | 7.3x | 8.6x | 8.6x | - |
| EV / EBITDA | 32.5x | - | 38.6x | 32.8x | 36.8x | - | - | - | 44.7x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.8% | - | 4.6% | 2.9% | 4.6% | - | 7.0% | 8.5% | 13.1% | - |
| Revenue CAGR (3y) | 6.0% | - | 6.7% | 5.5% | 5.5% | - | 4.2% | 1.4% | -0.0% | - |
| Revenue CAGR (5y) | 1.1% | - | 6.0% | 4.7% | 2.7% | - | 4.8% | 5.0% | 3.3% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 3.2% | - | 2.0% | 9.1% | -3.8% | - | 41.7% | 149.3% | - | - |
| Net income growth (YoY) | 10.3% | - | -4.0% | 8.1% | 0.1% | - | 50.3% | 110.1% | - | - |
| EPS growth (YoY) | 19.4% | - | 0.0% | 10.5% | 0.8% | - | 49.4% | 110.2% | - | - |
| EPS CAGR (3y) | - | - | 66.3% | 29.6% | 62.3% | - | 93.0% | 14.3% | 45.4% | - |
| EPS CAGR (5y) | 29.9% | - | 19.6% | -2.4% | -5.0% | - | 8.9% | 2.4% | 18.8% | - |
| FCF growth (YoY) | 34.8% | - | - | - | -16.2% | - | - | - | 153.8% | - |
| FCF CAGR (5y) | 3.2% | - | - | - | 1.0% | - | - | - | 6.5% | - |
| Book value growth (YoY) | -0.5% | -1.0% | -3.5% | -0.7% | 0.0% | 0.6% | 7.7% | 5.0% | 2.0% | 1.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.27B totalUSHigher 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 totalTuition Grants And Scholarship$830.06M · 95.6%
Service Other$38.18M · 4.4%
Geographic
$1.27B totalUS$1.02B · 80.2%
Non Us$251.58M · 19.8%
Peer comparison
Same SIC group: Services-Educational Services
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 |