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American Public Education

APEI

American Public Education, Inc. (APEI) is a provider of online and campus-based postsecondary education, primarily serving service-minded students and adult learners.

Market cap
$819.18M+26.1%
Revenue$668.0M+3.6%
Net income$45.7M+68.2%
Free cash flow$96.8M+101%
EPS (diluted)$2.43+129%
Trailing twelve months · change vs. prior year

Earnings

Q2 2026 report

August 10, 2026
Revenue$171.7MBeat by $817.2KEPS$0.52Beat by $0.16

Next report

Nov 9, 2026 (in 2 months)
Revenue estimate$166.1M
EPS estimate$0.26

Financials

Q2 2026

Income statement

See full
Revenue$171.7M+5.5%
Gross profit$95.1M+12.7%
Operating income$13.5M+92.5%
Net income$9.8M+117%
EPS (diluted)$0.52+2,700%

Balance sheet

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Cash & equivalents$146.5M-17.0%
Total debt$153.5M-21.6%
Total equity$314.1M+15.4%
Total assets$537.7M+0.1%

Cash flow

See full
Operating cash flow$12.1M-18.0%
CapEx$4.7M+28.2%
Free cash flow$7.4M-33.4%

Valuation & ratios

Valuation

See full
Market cap$819.18M+26.1%
Enterprise value$826.1M+24.4%
P/E17.9×-5.8×
P/S1.2×+0.2×

Profitability

See full
Gross margin55.9%+2.5pp
Operating margin9.6%+2.6pp
Net margin6.8%+2.6pp

Returns & leverage

See full
Return on equity15.6%+5.9pp
Debt / equity0.5×-0.2×
Current ratio3.2×+0.4×

Segments

By product

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Instructional services, net of grants and scholarships$156.3M+4.3%
Textbook and other course materials$13.1M+20.1%
Graduation fees$1.2M+36.4%
Other fees$1.2M-3.7%

By segment

See full
Health+$86.2M—
Military+ Segment$85.5M—

Competitors

By market cap

Grand Canyon Education logo
Grand Canyon Education$4.0B—
PRD
Perdoceo Education$2.1B-9.7%
Strategic Education, Inc. logo
Strategic Education, Inc.$1.8B-5.2%
American Public Education logo
American Public Education$819.2M+27.0%

By revenue growth

PRD
Perdoceo Education+11.7%
Grand Canyon Education logo
Grand Canyon Education+7.4%
American Public Education logo
American Public Education+3.6%
Strategic Education, Inc. logo
Strategic Education, Inc.+3.5%

By net margin

PRD
Perdoceo Education20.63%+0.5pp
Grand Canyon Education logo
Grand Canyon Education19.54%-2.4pp
Strategic Education, Inc. logo
Strategic Education, Inc.10.46%+1.2pp
American Public Education logo
American Public Education6.84%+2.6pp

Profile

American Public Education, Inc. (APEI) is a provider of online and campus-based postsecondary education, primarily serving service-minded students and adult learners. The company offers a diverse range of degree and certificate programs through its subsidiary institutions, with a significant focus on the military community and nursing education. Its value proposition centers on providing affordable, flexible, and career-oriented education designed to advance students in their professional fields.

Competitive position

APEI is a leading educator of active-duty military and veterans and a national leader in pre-licensure nursing education.

GeographiesUnited States
Customer segmentsMilitary Personnel, Healthcare Professionals, Working Adults
Business modelOnline Education, Campus-based Education, For-profit Education
SuppliersAccrediting agencies, Department of Education, Department of Defense, Faculty and academic staff, Technology infrastructure providers
CustomersMilitary service members, Healthcare employers, Public service agencies, Private sector corporations
CountryUnited States of America
Listed2007
Employees6.0K
CEOAngela K. Selden
SectorConsumer Defensive
IndustryEducation & Training Services
Websiteapei.com
FilingsSEC EDGAR

FAQ

What is American Public Education's market cap?
American Public Education (APEI) has a market capitalization of $819.2M and trades on NASDAQ.
What is American Public Education's revenue and profitability?
American Public Education generated $668.0M in trailing twelve-month revenue with net income of $45.7M, representing a net margin of 6.8%. Gross margin stands at 55.9%, with free cash flow of $96.8M. The latest reported period is Q2 2026.
Who are American Public Education's competitors?
American Public Education's key competitors include Grand Canyon Education, Inc., Strategic Education, Inc., Perdoceo Education Corporation. These companies compete in similar markets and product categories.
What subsidiaries does American Public Education have?
American Public Education's subsidiaries include American Public University System, Rasmussen University, Hondros College of Nursing.
Where is American Public Education headquartered?
American Public Education is headquartered in United States of America and employs approximately 6,037 people. It has been publicly traded since 2007.