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American Public Education APEI Health+ — Instructional costs and services

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Other financials

Income statement

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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

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

Valuation

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Market cap$939.92M+74.5%
Enterprise value$946.84M+69.7%
P/E20.6×+0.7×
P/S1.4×+0.6×

Profitability

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Gross margin55.9%+2.5pp
Operating margin9.6%+2.6pp
Net margin6.8%+2.6pp
FCF margin9.4%

Returns & leverage

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

Where this comes from

Reported directly by American Public Education in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: American Public Education’s 10-Q, filed August 10, 2026.

Filed
Aug 10, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001201792-26-000012
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Income from operations before interest and income taxes$23,723$21,442$54,441$45,568
Health+ Segment
Revenue$86,216$77,655$171,572$154,582
Instructional costs and services49,13846,93397,58491,387
Selling and promotional21,58618,08142,31836,480
General and administrative12,75412,33425,68124,384
Other (2)2,4302,6855,1645,527
Income (loss) from operations before interest and income taxes$308$(2,378)$825$(3,196)

Item 1. Financial Statements

FAQ

What is American Public Education's health+ — instructional costs and services?
American Public Education (APEI) reported health+ — instructional costs and services of $49.14M in Q2 2026.
What does health+ — instructional costs and services mean?
Direct expenses incurred by the Health+ segment related to faculty compensation, curriculum development, and student support services. Monitoring this helps evaluate the cost efficiency of delivering educational content.

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