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American Public Education APEI Q3 2025 earnings

Reported November 10, 2025 · After market close

Revenue$163.2MBeat by $11.6M
EPS$0.30Beat by $0.39
Revenue estimate$151.6M
EPS estimate-$0.09

Next report

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

Financials

Q3 2025

Income statement

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Revenue$163.2M+6.6%
Gross profit$88.5M+13.9%
Operating income$9.7M+135%
Net income$5.6M+146%
EPS (diluted)$0.30+650%

Balance sheet

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Cash & equivalents$193.1M+19.0%
Total debt$166.2M-18.2%
Total equity$279.3M-3.8%
Total assets$525.3M-7.8%

Cash flow

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Operating cash flow$21.7M+54.2%
CapEx$4.2M-33.5%
Free cash flow$17.5M+126%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$713.11M+173%
Enterprise value$686.21M+127%
P/E23.4×+5.6×
P/S1.1×+0.7×

Profitability

See full
Gross margin54.2%+2.3pp
Operating margin7.7%—
Net margin4.7%+2.3pp
FCF margin9.4%—

Returns & leverage

See full
Return on equity10.7%+5.6pp
Debt / equity0.6×-0.1×
Current ratio2.8×+0.2×

Segments

By product

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Instructional services, net of grants and scholarships$148.8M+5.3%
Textbook and other course materials$11.8M+18.9%
Other fees$1.4M+34.2%
Graduation fees$1.2M+54.3%

FAQ

When did American Public Education report Q3 2025 earnings?
American Public Education (APEI) reported Q3 2025 earnings on November 10, 2025 after market close.
What were American Public Education's Q3 2025 revenue and EPS?
American Public Education reported revenue of $163.2M and eps of $0.30 for Q3 2025.
Did American Public Education beat estimates in Q3 2025?
Revenue beat the consensus estimate of $151.6M by $11.6M. EPS beat the consensus estimate of $-0.09 by $0.39.
How did American Public Education's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.6% from $153.1M a year earlier and eps grew 650.0% from $0.04.
Where can I find American Public Education's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-109265) and the 10-Q periodic report (0001201792-25-000020) directly on SEC EDGAR. The filing index links above go to sec.gov.