What are American Public Education's profit margins?

American Public Education (APEI) runs a 55.0% gross margin and a 8.7% operating margin, with a 6.1% net margin.

Where do American Public Education's ratios come from?

Every ratio is computed from American Public Education's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

American Public Education APEI Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	55%+2.0pp	54.2%+1.6pp	54.2%+2.3pp	53.4%+1.3pp	53%+1.2pp
Operating margin	8.7%—	7.4%—	7.7%—	——	——
Net margin	6.1%+2.5pp	4.9%+2.5pp	4.7%+2.3pp	4.2%+2.7pp	3.6%+10.7pp
Returns
Return on equity	13.1%+5.4pp	10.5%+5.6pp	10.7%+5.6pp	9.7%+6.5pp	7.7%+21.2pp
Return on invested capital	16%+7.7pp	11%+4.8pp	11.8%+4.0pp	9.8%+1.7pp	8.3%+18.7pp
Efficiency
Asset turnover	1.2×+0.1×	1.2×+0.1×	1.2×+0.1×	1.2×+0.1×	1.1×+0.1×
Liquidity
Current ratio	3×-0.3×	3.5×+0.2×	2.8×+0.2×	2.8×0.0×	3.3×+0.5×
Leverage
Debt-to-equity	0.5×-0.1×	0.6×-0.1×	0.6×-0.1×	0.7×0.0×	0.6×-0.1×
Net debt / EBITDA	-0.9×-1.1×	-0.2×—	-0.4×—	0.3×—	0.2×—
Per Share
Book value per share	$16.28-3.3%	$15.80-5.7%	$14.89-6.4%	$14.64-8.0%	$16.83+3.9%
Valuation
Market capitalization	$956.25M+77.9%	$683.61M+78.9%	$713.11M+173%	$536.86M+73.8%	$401.67M+61.6%
Price / earnings	23.7×+0.3×	21.7×—	23.4×—	19.8×—	17.4×—
Price / sales	1.5×+0.6×	1.1×+0.4×	1.1×+0.7×	0.8×+0.3×	0.6×+0.2×
Price / book	3.1×+1.4×	2.3×+1.1×	2.6×+1.7×	2×+0.9×	1.3×+0.4×
EV / EBITDA	12.1×+2.7×	10.5×—	10.3×—	9×—	7.1×—

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Questions, answered.

What are American Public Education's profit margins?: American Public Education (APEI) runs a 55.0% gross margin and a 8.7% operating margin, with a 6.1% net margin.
Where do American Public Education's ratios come from?: Every ratio is computed from American Public Education's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.