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American Public Education APEI Health+ — Number of campuses

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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 apei:NumberOfCampuses.

The source filing: American Public Education’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 4:02 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001201792-26-000008

The Company has operating leases for office space and campus facilities. Some leases include options to terminate or extend for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised. The Company leases corporate office space in Florida, under an operating lease that expires in January 2029. Excluding a campus being closed in 2026, the Company leases 27 campuses located in eight states for the Health+ segment under operating leases that expire through December 2034. Prior to the GSUSA Sale Date, GSUSA leased classroom and administrative office space in Washington, D.C. and Honolulu, Hawaii.

Item 1. Financial Statements

FAQ

What is American Public Education's health+ — number of campuses?
American Public Education (APEI) reported health+ — number of campuses of 27 in Q1 2026.
What does health+ — number of campuses mean?
The total count of physical locations operated by the Health+ segment for the delivery of educational programs. This metric serves as a proxy for the segment's physical footprint and capacity to serve students in person.

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