American Public Education, Inc.
APEI · Price history
Price at last available close
$44.02
+$2.93 (+7.13%) 1M
2026-10-28
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Company & revenue
About American Public Education, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
American Public Education, Inc. (APEI), along with its affiliated entities, delivers higher learning opportunities accessible both online and at physical campuses. The organization operates through three principal divisions: the American Public University System, Rasmussen University, and Hondros College of Nursing. APEI provides an extensive array of academic pathways, offering 130 degree programs and 111 certificate qualifications across diverse fields of study.
How they make money
American Public Education, Inc. generates revenue primarily through tuition and fees charged to students enrolled in its online and campus-based postsecondary education programs. The company operates through subsidiary institutions that serve specific demographics, including military personnel, veterans, and nursing students, with funding derived from student payments, federal financial aid programs, and military education benefits.
Products & services
The company provides online and campus-based postsecondary education, including degree and certificate programs in nursing, public health, public administration, and business administration, primarily serving military, veteran, and healthcare-focused student populations.
Brands & revenue mix
Primary brand for online education serving military and public service communities.
Separate brand revenue is not available in this research.Source
Brand focused on nursing and career-oriented education.
Separate brand revenue is not available in this research.Source
Brand focused on nursing education.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
The company is significantly dependent on U.S. federal government funding, specifically Title IV student financial aid programs and Department of Defense military tuition assistance, which constitute a substantial portion of its revenue.
Suppliers, materials & equipment
- Educational technology and software service providers — The company relies on various third-party vendors for learning management systems, student information systems, and cloud infrastructure services.Source
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
43
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
65
Fair
Financial Strength
82
Business Quality / Moat
42
Management
100
Growth Quality
28
Risk / Durability
55
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
28
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
39/100
Building Historical Record
Model Score 39/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Balance-sheet / debt profile scores strongly
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for APEI
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can APEI maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is APEI's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Does APEI's balance between cash and debt leave enough flexibility if business conditions weaken?
- •What future growth or profitability would be needed to justify APEI's current valuation?
Essential Investment Snapshot
Wall Street Score
43
Opportunity Score
28
Market Cap
$805.6M
P/E Ratio
16.8
EPS
$2.51
52-Week High
$61.59
52-Week Low
$30.20
Beta
1.39
Intrinsic Value
$32.81
Analyst Target
$64.00
Shares Outstanding
18.7M
Total Revenue
$668.0M
Total Debt
$147.8M
Dividend
No current dividend
Liquidation Value / Share
$16.83
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for APEI
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on APEI.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Leading position in military and veteran education.
- +Specialized focus on high-demand nursing and healthcare programs.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Education & Training Services industry.
- −Regulatory changes affecting Title IV financial aid and military tuition assistance.
- −Intense competition in the online and nursing education markets.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
6 historical score records availablePrevious Score
42
Sep 8, 2026
Change
+0.5
points
Current Score
43
Oct 1, 2026
Category Changes
APEI increased 0.5 points because Capital improved by 4 points.
Positive Contributors
- + Capital improved by 4 points
Projected Score
Projected Score
38
Projected Change
-5.0 points
Preliminary comparable-period financial changes suggest decline of approximately 5.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$44.02
Model Intrinsic Value
$32.81
Difference
+$11.21
+34.2% vs IV
Margin of Safety
-34.2%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $668.0M | $648.9M | $624.6M | $600.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $303.2M | $313.2M | $295.7M | $292.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $364.8M | $335.7M | $328.9M | $307.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $288.8M | $281.8M | $270.8M | $261.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $300.7M | $281.8M | $295.8M | $356.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $83.0M | $64.1M | $52.4M | -$25.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $64.1M | $53.9M | $33.1M | -$48.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $3.0M | $4.2M | $2.1M | $4.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $59.8M | $43.7M | $30.9M | -$58.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $14.2M | $12.1M | $10.4M | -$10.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $45.7M | $31.6M | $16.1M | -$47.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $2.51 | $1.40 | $0.57 | $-2.94 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 18.36M | 18.01M | 17.63M | 18.11M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 18.81M | 18.66M | 18.15M | 18.19M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$171.7M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.52
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-24.4%
Cash Change
-100.0%
Margin Change
+2.9 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Debt reduced
What Weakened
- Cash position declined
Potential Score Impact
Positive indicators included revenue growth, debt levels, net income margin. Pressure indicators included EPS growth, cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 5.5%. EPS declined 2988.9%. Cash declined 100.0%. Total debt declined 24.4%. Net income margin improved by 2.9 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
6 historical recordsHistorical Score Chart
3 of 6 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Education & Training ServicesNews
American Public Education: Operating Leverage Leads To Share Gains
American Public University System Hosts System-wide Virtual Career Fair "Pathways to Possibilities"
Rasmussen University Launches Weekend Practical Nursing Diploma Program at Ocala Campus
Why American Public Education (APEI) is a Top Value Stock for the Long-Term
Rumor Mill · APEI
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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