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American Public Education APEI Military+ Segment — G&A

Other segment segments

Health+
$12.75M

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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:GeneralAndAdministrativeExpense.

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
Revenue$85,538$81,731$174,981$165,677
Instructional costs and services27,50228,51853,70955,829
Selling and promotional18,30415,94535,24031,646
General and administrative14,89514,80829,28629,042
Other (1)1,1141,0182,3053,592
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

Item 1. Financial Statements

FAQ

What is American Public Education's military+ segment — G&A?
American Public Education (APEI) reported military+ segment — G&A of $14.9M in Q2 2026.
What does military+ segment — G&A mean?
This includes the overhead and administrative expenses required to support the operations of the Military+ segment, excluding direct instructional or marketing costs. It provides insight into the segment's fixed cost structure and management efficiency.

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