Strategic Education (STRA) Financials

$78.56 +1.30 (+1.68%)

Closing price 04:00 PM Eastern

Extended Trading

$78.58 +0.02 (+0.03%)

As of 04:29 PM Eastern

Annual Income Statements for Strategic Education

This table shows Strategic Education's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	47	70	113
Consolidated Net Income / (Loss)	47	70	113
Net Income / (Loss) Continuing Operations	47	70	113
Total Pre-Tax Income	70	101	161
Total Operating Income	71	95	156
Total Gross Profit	1,065	1,133	1,220
Total Revenue	1,065	1,133	1,220
Operating Revenue	1,065	1,133	1,220
Total Cost of Revenue	0.00	0.00	0.00
Total Operating Expenses	995	1,038	1,064
Selling, General & Admin Expense	977	1,008	1,063
Amortization Expense	14	11	0.00
Restructuring Charge	3.23	18	1.65
Total Other Income / (Expense), net	-1.19	5.41	5.80
Other Income / (Expense), net	-1.19	5.41	5.80
Income Tax Expense	23	31	49
Basic Earnings per Share	$1.97	$2.98	$4.81
Weighted Average Basic Shares Outstanding	23.68M	23.40M	23.41M
Diluted Earnings per Share	$1.94	$2.91	$4.67
Weighted Average Diluted Shares Outstanding	24.00M	23.96M	24.14M
Weighted Average Basic & Diluted Shares Outstanding	24.40M	24.41M	24.50M
Cash Dividends to Common per Share	$2.40	$2.40	$2.40

This table shows Strategic Education's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	6.09	18	-2.03	14	18	39	30	30	28	25
Consolidated Net Income / (Loss)	6.09	18	-2.03	14	18	39	30	30	28	25
Net Income / (Loss) Continuing Operations	6.09	18	-2.03	14	18	39	30	30	28	25
Total Pre-Tax Income	7.55	28	-0.95	20	26	55	43	42	39	38
Total Operating Income	7.81	28	-1.35	17	26	54	41	42	36	36
Total Gross Profit	263	270	257	288	286	303	290	312	306	311
Total Revenue	263	270	257	288	286	303	290	312	306	311
Operating Revenue	263	270	257	288	286	303	290	312	306	311
Total Operating Expenses	255	242	258	271	260	248	249	270	270	275
Selling, General & Admin Expense	251	243	248	260	253	246	254	268	269	271
Restructuring Charge	0.88	-3.83	6.02	6.93	3.59	1.26	-5.51	2.00	0.76	4.41
Total Other Income / (Expense), net	-0.26	-0.06	0.40	3.17	0.84	0.99	1.79	-0.12	2.26	1.87
Other Income / (Expense), net	-0.26	-0.06	0.40	3.17	0.84	0.99	1.79	-0.12	2.26	1.87
Income Tax Expense	1.45	9.26	1.08	5.76	8.01	16	13	12	11	13
Basic Earnings per Share	$0.26	$0.78	($0.09)	$0.61	$0.79	$1.67	$1.27	$1.28	$1.18	$1.08
Weighted Average Basic Shares Outstanding	23.55M	23.68M	23.43M	23.45M	23.37M	23.40M	23.39M	23.44M	23.42M	23.41M
Diluted Earnings per Share	$0.25	$0.77	($0.09)	$0.59	$0.77	$1.64	$1.23	$1.24	$1.15	$1.05
Weighted Average Diluted Shares Outstanding	23.90M	24.00M	23.43M	23.96M	23.87M	23.96M	24.06M	24.18M	24.17M	24.14M
Weighted Average Basic & Diluted Shares Outstanding	24.45M	24.40M	24.59M	24.46M	24.42M	24.41M	24.61M	24.62M	24.57M	24.50M

This table details how cash moves in and out of Strategic Education's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-52	-46	-35
Net Cash From Operating Activities	126	117	169
Net Cash From Continuing Operating Activities	126	117	169
Net Income / (Loss) Continuing Operations	47	70	113
Consolidated Net Income / (Loss)	47	70	113
Depreciation Expense	63	57	44
Amortization Expense	0.58	0.49	0.38
Non-Cash Adjustments To Reconcile Net Income	19	23	20
Changes in Operating Assets and Liabilities, net	-3.23	-33	-8.20
Net Cash From Investing Activities	-31	-49	-64
Net Cash From Continuing Investing Activities	-31	-49	-64
Purchase of Property, Plant & Equipment	-43	-37	-41
Acquisitions	-0.80	-0.53	-0.18
Purchase of Investments	-0.34	-27	-55
Sale of Property, Plant & Equipment	6.53	5.89	0.00
Sale and/or Maturity of Investments	6.42	10	31
Net Cash From Financing Activities	-142	-114	-137
Net Cash From Continuing Financing Activities	-142	-114	-137
Repayment of Debt	-40	-40	-63
Repurchase of Common Equity	-40	-10.00	-12
Payment of Dividends	-59	-59	-59
Other Financing Activities, net	-3.00	-4.83	-3.32
Effect of Exchange Rate Changes	-4.09	-0.50	-3.47

This table details how cash moves in and out of Strategic Education's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	2.05	-51	-8.65	-21	-17	0.48	56	6.26	-36	-61
Net Cash From Operating Activities	44	1.32	35	5.50	46	30	78	24	51	16
Net Cash From Continuing Operating Activities	44	1.32	35	5.50	46	30	78	24	51	16
Net Income / (Loss) Continuing Operations	6.09	18	-2.03	14	18	39	30	30	28	25
Consolidated Net Income / (Loss)	6.09	18	-2.03	14	18	39	30	30	28	25
Depreciation Expense	16	14	15	16	15	12	11	11	11	11
Amortization Expense	0.14	0.14	0.14	0.13	0.11	0.12	0.11	0.13	0.13	0.01
Non-Cash Adjustments To Reconcile Net Income	5.68	1.51	9.28	4.75	4.08	4.53	-0.84	6.57	6.89	7.46
Changes in Operating Assets and Liabilities, net	16	-33	13	-29	9.11	-26	38	-23	5.92	-28
Net Cash From Investing Activities	-9.51	-1.04	-23	-0.47	-6.71	-18	-1.00	-5.21	-8.96	-49
Net Cash From Continuing Investing Activities	-9.51	-1.04	-23	-0.47	-6.71	-18	-1.00	-5.21	-8.96	-49
Purchase of Property, Plant & Equipment	-9.82	-11	-8.27	-9.52	-9.52	-9.63	-9.19	-11	-9.42	-11
Acquisitions	-0.19	-0.61	-0.21	-	-0.24	-0.08	0.00	-0.14	-0.02	-0.01
Purchase of Investments	-	-0.11	-17	0.17	-0.16	-10	-0.03	-8.65	-6.52	-39
Sale and/or Maturity of Investments	0.50	3.82	2.42	3.00	3.22	1.63	8.22	14	7.00	1.50
Net Cash From Financing Activities	-27	-58	-20	-25	-55	-15	-18	-15	-81	-23
Net Cash From Continuing Financing Activities	-27	-58	-20	-25	-55	-15	-18	-15	-81	-23
Repayment of Debt	-	-40	-	-	-	-	-	-	-	-1.70
Repurchase of Common Equity	-12	-3.20	-	-	-	-	-	-	-5.00	-6.51
Payment of Dividends	-15	-15	-15	-15	-15	-15	-15	-15	-15	-15
Other Financing Activities, net	-0.09	-0.03	-4.96	-	0.04	0.10	-3.69	0.17	-	0.20
Effect of Exchange Rate Changes	-	6.64	-0.89	-1.04	-1.73	3.16	-2.31	1.77	2.03	-4.96

This table presents Strategic Education's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	2,162	2,125	2,050
Total Current Assets	329	329	305
Cash & Equivalents	214	168	137
Short-Term Investments	9.16	40	47
Accounts Receivable	63	76	76
Other Current Assets	43	45	45
Plant, Property, & Equipment, net	133	119	111
Total Noncurrent Assets	1,700	1,678	1,634
Long-Term Investments	13	0.48	15
Goodwill	1,251	1,252	1,207
Intangible Assets	261	252	245
Other Noncurrent Operating Assets	175	174	167
Total Liabilities & Shareholders' Equity	2,162	2,125	2,050
Total Liabilities	526	473	387
Total Current Liabilities	210	210	216
Accounts Payable	91	91	102
Current Deferred Revenue	88	92	90
Current Deferred & Payable Income Tax Liabilities	6.99	2.20	2.93
Other Current Liabilities	24	24	22
Total Noncurrent Liabilities	316	263	171
Long-Term Debt	101	61	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	35	28	28
Other Noncurrent Operating Liabilities	180	173	143
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,636	1,653	1,662
Total Preferred & Common Equity	1,636	1,653	1,662
Total Common Equity	1,636	1,653	1,662
Common Stock	1,511	1,518	1,533
Retained Earnings	160	169	218
Accumulated Other Comprehensive Income / (Loss)	-35	-34	-89

This table presents Strategic Education's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	2,215	2,166	2,142	2,114	2,155	2,178	2,188
Total Current Assets	403	357	351	351	390	399	384
Cash & Equivalents	263	203	181	168	222	230	196
Short-Term Investments	11	24	25	29	31	26	26
Accounts Receivable	82	72	82	97	83	90	106
Other Current Assets	47	54	52	49	54	53	56
Plant, Property, & Equipment, net	136	124	121	118	116	116	116
Total Noncurrent Assets	1,676	1,684	1,670	1,646	1,648	1,662	1,688
Long-Term Investments	15	13	8.61	1.91	0.00	0.00	0.00
Goodwill	1,226	1,243	1,238	1,228	1,230	1,241	1,261
Intangible Assets	260	257	253	250	249	249	252
Other Noncurrent Operating Assets	175	172	170	166	170	172	175
Total Liabilities & Shareholders' Equity	2,215	2,166	2,142	2,114	2,155	2,178	2,188
Total Liabilities	617	555	544	519	513	499	471
Total Current Liabilities	260	242	242	265	262	253	286
Accounts Payable	101	93	90	102	99	94	107
Current Deferred Revenue	132	123	129	140	129	134	154
Current Deferred & Payable Income Tax Liabilities	3.32	2.37	0.00	0.00	11	2.19	1.66
Other Current Liabilities	24	23	23	23	23	24	23
Total Noncurrent Liabilities	357	314	301	254	251	246	185
Long-Term Debt	141	101	101	61	61	61	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	34	36	31	28	30	28	26
Other Noncurrent Operating Liabilities	182	176	169	164	159	157	159
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,598	1,610	1,599	1,595	1,643	1,678	1,717
Total Preferred & Common Equity	1,598	1,610	1,599	1,595	1,643	1,678	1,717
Total Common Equity	1,598	1,610	1,599	1,595	1,643	1,678	1,717
Common Stock	1,508	1,512	1,509	1,513	1,520	1,526	1,530
Retained Earnings	157	143	140	144	184	199	210
Accumulated Other Comprehensive Income / (Loss)	-66	-44	-51	-63	-61	-47	-23

This table displays calculated financial ratios and metrics derived from Strategic Education's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	-5.85%	6.33%	7.68%
EBITDA Growth	-26.22%	18.95%	30.07%
EBIT Growth	-9.18%	44.79%	60.27%
NOPAT Growth	-10.70%	39.14%	64.48%
Net Income Growth	-15.28%	49.54%	61.46%
EPS Growth	-14.91%	50.00%	60.48%
Operating Cash Flow Growth	-30.18%	-7.09%	44.58%
Free Cash Flow Firm Growth	-36.05%	-39.78%	142.29%
Invested Capital Growth	-3.57%	0.27%	-2.77%
Revenue Q/Q Growth	-0.20%	2.98%	0.72%
EBITDA Q/Q Growth	-2.34%	19.71%	-8.24%
EBIT Q/Q Growth	-2.64%	37.80%	-9.69%
NOPAT Q/Q Growth	-4.46%	43.35%	-11.67%
Net Income Q/Q Growth	-6.70%	42.46%	-10.91%
EPS Q/Q Growth	-5.83%	42.65%	-11.22%
Operating Cash Flow Q/Q Growth	-12.52%	32.35%	-7.66%
Free Cash Flow Firm Q/Q Growth	-19.66%	56.81%	75.49%
Invested Capital Q/Q Growth	3.47%	3.28%	-2.09%
Profitability Metrics	-	-	-
Gross Margin	100.00%	100.00%	100.00%
EBITDA Margin	12.51%	13.99%	16.90%
Operating Margin	6.64%	8.41%	12.76%
EBIT Margin	6.53%	8.89%	13.23%
Profit (Net Income) Margin	4.38%	6.16%	9.24%
Tax Burden Percent	67.08%	69.29%	69.80%
Interest Burden Percent	100.00%	100.00%	100.00%
Effective Tax Rate	32.92%	30.71%	30.20%
Return on Invested Capital (ROIC)	3.10%	4.39%	7.32%
ROIC Less NNEP Spread (ROIC-NNEP)	3.65%	1.74%	4.98%
Return on Net Nonoperating Assets (RNNOA)	-0.32%	-0.15%	-0.52%
Return on Equity (ROE)	2.79%	4.24%	6.80%
Cash Return on Invested Capital (CROIC)	6.74%	4.13%	10.13%
Operating Return on Assets (OROA)	3.11%	4.70%	7.73%
Return on Assets (ROA)	2.09%	3.26%	5.40%
Return on Common Equity (ROCE)	2.79%	4.24%	6.80%
Return on Equity Simple (ROE_SIMPLE)	2.85%	4.22%	6.78%
Net Operating Profit after Tax (NOPAT)	47	66	109
NOPAT Margin	4.46%	5.83%	8.90%
Net Nonoperating Expense Percent (NNEP)	-0.55%	2.66%	2.34%
Return On Investment Capital (ROIC_SIMPLE)	2.73%	3.85%	6.53%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	91.71%	89.00%	87.11%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	93.36%	91.59%	87.24%
Earnings before Interest and Taxes (EBIT)	70	101	161
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	133	159	206
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.11	1.33	1.38
Price to Tangible Book Value (P/TBV)	14.66	14.79	10.90
Price to Revenue (P/Rev)	1.71	1.94	1.88
Price to Earnings (P/E)	38.94	31.57	20.37
Dividend Yield	3.23%	2.66%	2.57%
Earnings Yield	2.57%	3.17%	4.91%
Enterprise Value to Invested Capital (EV/IC)	1.12	1.37	1.43
Enterprise Value to Revenue (EV/Rev)	1.58	1.81	1.72
Enterprise Value to EBITDA (EV/EBITDA)	12.63	12.97	10.17
Enterprise Value to EBIT (EV/EBIT)	24.19	20.41	12.99
Enterprise Value to NOPAT (EV/NOPAT)	35.45	31.13	19.30
Enterprise Value to Operating Cash Flow (EV/OCF)	13.35	17.55	12.38
Enterprise Value to Free Cash Flow (EV/FCFF)	16.33	33.13	13.94
Leverage & Solvency	-	-	-
Debt to Equity	0.06	0.04	0.00
Long-Term Debt to Equity	0.06	0.04	0.00
Financial Leverage	-0.09	-0.09	-0.10
Leverage Ratio	1.33	1.30	1.26
Compound Leverage Factor	1.33	1.30	1.26
Debt to Total Capital	5.84%	3.58%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	5.84%	3.58%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	94.16%	96.42%	100.00%
Debt to EBITDA	0.76	0.39	0.00
Net Debt to EBITDA	-1.01	-0.93	0.00
Long-Term Debt to EBITDA	0.76	0.39	0.00
Debt to NOPAT	2.14	0.93	0.00
Net Debt to NOPAT	-2.83	-2.23	0.00
Long-Term Debt to NOPAT	2.14	0.93	0.00
Altman Z-Score	2.84	3.66	4.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.57	1.57	1.41
Quick Ratio	1.36	1.36	1.20
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	103	62	150
Operating Cash Flow to CapEx	343.98%	377.16%	417.28%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.48	0.53	0.58
Accounts Receivable Turnover	18.66	16.29	16.03
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	7.52	9.01	10.62
Accounts Payable Turnover	0.00	0.00	0.00
Days Sales Outstanding (DSO)	19.57	22.40	22.77
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	19.57	22.40	22.77
Capital & Investment Metrics	-	-	-
Invested Capital	1,501	1,505	1,463
Invested Capital Turnover	0.70	0.75	0.82
Increase / (Decrease) in Invested Capital	-56	3.99	-42
Enterprise Value (EV)	1,683	2,056	2,096
Market Capitalization	1,817	2,203	2,295
Book Value per Share	$66.89	$67.68	$67.67
Tangible Book Value per Share	$5.07	$6.10	$8.57
Total Capital	1,737	1,714	1,662
Total Debt	101	61	0.00
Total Long-Term Debt	101	61	0.00
Net Debt	-135	-147	-199
Capital Expenditures (CapEx)	37	31	41
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-104	-89	-96
Debt-free Net Working Capital (DFNWC)	119	119	88
Net Working Capital (NWC)	119	119	88
Net Nonoperating Expense (NNE)	0.80	-3.75	-4.05
Net Nonoperating Obligations (NNO)	-135	-147	-199
Total Depreciation and Amortization (D&A)	64	58	45
Debt-free, Cash-free Net Working Capital to Revenue	-9.73%	-7.83%	-7.83%
Debt-free Net Working Capital to Revenue	11.18%	10.54%	7.25%
Net Working Capital to Revenue	11.18%	10.54%	7.25%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.97	$2.98	$4.81
Adjusted Weighted Average Basic Shares Outstanding	23.68M	23.40M	23.41M
Adjusted Diluted Earnings per Share	$1.94	$2.91	$4.67
Adjusted Weighted Average Diluted Shares Outstanding	24.00M	23.96M	24.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.40M	24.41M	24.50M
Normalized Net Operating Profit after Tax (NOPAT)	50	78	110
Normalized NOPAT Margin	4.66%	6.92%	9.00%
Pre Tax Income Margin	6.53%	8.89%	13.23%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	126.93%	84.22%	52.33%
Augmented Payout Ratio	212.89%	98.55%	62.55%

This table displays calculated financial ratios and metrics derived from Strategic Education's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.58%	-0.79%	-0.87%	5.16%	8.67%	12.14%	13.11%	8.55%	7.00%	2.89%
EBITDA Growth	-13.87%	-7.12%	-51.77%	-9.67%	76.03%	62.66%	292.54%	48.86%	20.03%	-27.33%
EBIT Growth	37.18%	-6.40%	-107.75%	-9.82%	250.84%	100.15%	4,637.33%	109.13%	45.78%	-31.38%
NOPAT Growth	22.42%	-10.38%	-112.26%	-20.25%	183.52%	109.20%	3,114.63%	150.44%	46.15%	-37.32%
Net Income Growth	58.07%	-15.46%	-128.85%	-6.50%	203.00%	113.48%	1,564.60%	110.09%	50.32%	-35.25%
EPS Growth	56.25%	-13.48%	-131.03%	-6.35%	208.00%	112.99%	1,466.67%	110.17%	49.35%	-35.98%
Operating Cash Flow Growth	24.69%	-93.18%	-37.73%	-77.18%	5.40%	2,168.64%	120.28%	342.31%	10.89%	-46.89%
Free Cash Flow Firm Growth	114.43%	-42.44%	13.23%	-64.55%	-86.60%	-53.43%	-38.99%	2.69%	-198.32%	91.11%
Invested Capital Growth	-5.14%	-3.57%	-4.96%	-1.25%	0.45%	0.27%	-1.21%	-0.11%	2.56%	-2.77%
Revenue Q/Q Growth	-3.82%	2.59%	-4.94%	12.11%	-0.61%	5.86%	-4.11%	7.59%	-2.02%	1.80%
EBITDA Q/Q Growth	-40.63%	77.73%	-66.78%	157.65%	15.71%	64.23%	-19.82%	-2.29%	-6.70%	-0.57%
EBIT Q/Q Growth	-65.96%	265.66%	-103.45%	2,201.79%	32.43%	108.60%	-21.86%	-3.13%	-7.68%	-1.81%
NOPAT Q/Q Growth	-58.02%	191.38%	-105.14%	1,367.96%	49.26%	115.00%	-25.91%	5.34%	-12.89%	-7.79%
Net Income Q/Q Growth	-59.97%	200.87%	-111.06%	801.73%	29.71%	111.98%	-24.09%	0.66%	-7.19%	-8.69%
EPS Q/Q Growth	-60.32%	208.00%	-111.69%	755.56%	30.51%	112.99%	-25.00%	0.81%	-7.26%	-8.70%
Operating Cash Flow Q/Q Growth	82.95%	-97.00%	2,569.85%	-84.41%	745.06%	-35.51%	159.23%	-68.69%	111.85%	-69.11%
Free Cash Flow Firm Q/Q Growth	-2.24%	-12.88%	2.32%	-59.32%	-63.05%	202.73%	34.03%	-31.52%	-135.38%	688.45%
Invested Capital Q/Q Growth	-3.50%	3.47%	-2.22%	1.15%	-1.84%	3.28%	-3.65%	2.27%	0.78%	-2.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	8.91%	15.43%	5.39%	12.40%	14.43%	22.39%	18.72%	17.00%	16.19%	15.81%
Operating Margin	2.97%	10.24%	-0.53%	5.85%	8.96%	17.91%	14.25%	13.43%	11.87%	11.57%
EBIT Margin	2.87%	10.22%	-0.37%	6.95%	9.26%	18.24%	14.87%	13.39%	12.61%	12.17%
Profit (Net Income) Margin	2.32%	6.79%	-0.79%	4.95%	6.46%	12.93%	10.23%	9.57%	9.07%	8.13%
Tax Burden Percent	80.74%	66.44%	213.25%	71.20%	69.73%	70.86%	68.83%	71.52%	71.90%	66.87%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	19.26%	33.56%	0.00%	28.80%	30.27%	29.14%	31.17%	28.48%	28.10%	33.13%
Return on Invested Capital (ROIC)	1.72%	4.74%	-0.26%	3.00%	4.73%	9.57%	7.84%	7.71%	7.01%	6.36%
ROIC Less NNEP Spread (ROIC-NNEP)	1.85%	4.77%	0.41%	1.28%	4.32%	9.07%	7.10%	7.76%	6.10%	5.63%
Return on Net Nonoperating Assets (RNNOA)	-0.18%	-0.42%	-0.04%	-0.10%	-0.39%	-0.78%	-0.73%	-0.73%	-0.66%	-0.59%
Return on Equity (ROE)	1.54%	4.33%	-0.30%	2.90%	4.34%	8.79%	7.11%	6.98%	6.34%	5.77%
Cash Return on Invested Capital (CROIC)	8.61%	6.74%	7.57%	3.56%	2.72%	4.13%	7.84%	7.84%	5.80%	10.13%
Operating Return on Assets (OROA)	1.35%	4.88%	-0.17%	3.40%	4.71%	9.64%	8.03%	7.38%	7.10%	7.11%
Return on Assets (ROA)	1.09%	3.24%	-0.37%	2.42%	3.28%	6.83%	5.53%	5.28%	5.11%	4.75%
Return on Common Equity (ROCE)	1.54%	4.33%	-0.30%	2.90%	4.34%	8.79%	7.11%	6.98%	6.34%	5.77%
Return on Equity Simple (ROE_SIMPLE)	3.13%	0.00%	2.34%	2.29%	3.07%	0.00%	6.18%	6.98%	7.37%	0.00%
Net Operating Profit after Tax (NOPAT)	6.30	18	-0.94	12	18	38	28	30	26	24
NOPAT Margin	2.40%	6.80%	-0.37%	4.16%	6.25%	12.69%	9.81%	9.60%	8.54%	7.73%
Net Nonoperating Expense Percent (NNEP)	-0.14%	-0.03%	-0.67%	1.72%	0.41%	0.50%	0.74%	-0.06%	0.91%	0.72%
Return On Investment Capital (ROIC_SIMPLE)	-	1.06%	-	-	-	2.24%	-	-	-	1.45%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	95.36%	89.92%	96.80%	90.55%	88.60%	81.31%	87.65%	85.94%	87.88%	87.02%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	97.03%	89.76%	100.53%	94.15%	91.04%	82.09%	85.75%	86.57%	88.13%	88.43%
Earnings before Interest and Taxes (EBIT)	7.55	28	-0.95	20	26	55	43	42	39	38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	42	14	36	41	68	54	53	50	49
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.90	1.11	1.32	1.02	1.13	1.33	1.54	1.62	1.33	1.38
Price to Tangible Book Value (P/TBV)	12.87	14.66	19.22	15.16	15.38	14.79	15.43	14.51	11.16	10.90
Price to Revenue (P/Rev)	1.35	1.71	2.00	1.51	1.63	1.94	2.17	2.29	1.88	1.88
Price to Earnings (P/E)	28.84	38.94	56.40	44.41	36.68	31.57	24.90	23.24	18.02	20.37
Dividend Yield	4.10%	3.23%	2.76%	3.63%	3.27%	2.66%	2.32%	2.17%	2.59%	2.57%
Earnings Yield	3.47%	2.57%	1.77%	2.25%	2.73%	3.17%	4.02%	4.30%	5.55%	4.91%
Enterprise Value to Invested Capital (EV/IC)	0.89	1.12	1.35	1.02	1.14	1.37	1.61	1.70	1.38	1.43
Enterprise Value to Revenue (EV/Rev)	1.21	1.58	1.86	1.40	1.51	1.81	2.00	2.12	1.70	1.72
Enterprise Value to EBITDA (EV/EBITDA)	9.49	12.63	16.74	13.20	12.53	12.97	11.74	11.68	9.15	10.17
Enterprise Value to EBIT (EV/EBIT)	18.13	24.19	35.18	27.93	22.70	20.41	16.13	15.17	11.51	12.99
Enterprise Value to NOPAT (EV/NOPAT)	26.07	35.45	53.07	43.94	36.02	31.13	24.14	22.04	16.72	19.30
Enterprise Value to Operating Cash Flow (EV/OCF)	8.99	13.35	18.94	17.57	18.75	17.55	14.64	14.18	11.22	12.38
Enterprise Value to Free Cash Flow (EV/FCFF)	10.10	16.33	17.40	28.42	41.93	33.13	20.41	21.73	24.00	13.94
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.06	0.06	0.06	0.04	0.04	0.04	0.04	0.00	0.00
Long-Term Debt to Equity	0.09	0.06	0.06	0.06	0.04	0.04	0.04	0.04	0.00	0.00
Financial Leverage	-0.10	-0.09	-0.10	-0.08	-0.09	-0.09	-0.10	-0.09	-0.11	-0.10
Leverage Ratio	1.38	1.33	1.36	1.35	1.36	1.30	1.33	1.32	1.30	1.26
Compound Leverage Factor	1.38	1.33	1.36	1.35	1.36	1.30	1.33	1.32	1.30	1.26
Debt to Total Capital	8.12%	5.84%	5.92%	5.96%	3.70%	3.58%	3.60%	3.53%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	8.12%	5.84%	5.92%	5.96%	3.70%	3.58%	3.60%	3.53%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	91.88%	94.16%	94.08%	94.04%	96.30%	96.42%	96.40%	96.47%	100.00%	100.00%
Debt to EBITDA	1.03	0.76	0.86	0.88	0.46	0.39	0.31	0.28	0.00	0.00
Net Debt to EBITDA	-1.08	-1.01	-1.17	-0.99	-1.04	-0.93	-0.97	-0.90	0.00	0.00
Long-Term Debt to EBITDA	1.03	0.76	0.86	0.88	0.46	0.39	0.31	0.28	0.00	0.00
Debt to NOPAT	2.84	2.14	2.71	2.94	1.33	0.93	0.63	0.53	0.00	0.00
Net Debt to NOPAT	-2.97	-2.83	-3.71	-3.31	-2.98	-2.23	-1.99	-1.70	0.00	0.00
Long-Term Debt to NOPAT	2.84	2.14	2.71	2.94	1.33	0.93	0.63	0.53	0.00	0.00
Altman Z-Score	2.07	2.78	2.94	2.48	2.78	3.59	3.76	4.09	3.70	4.41
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.55	1.57	1.48	1.45	1.32	1.57	1.49	1.57	1.34	1.41
Quick Ratio	1.37	1.36	1.24	1.19	1.11	1.36	1.29	1.36	1.15	1.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	85	74	76	31	11	34	46	32	-11	66
Operating Cash Flow to CapEx	448.64%	31.91%	426.14%	57.70%	487.57%	311.13%	844.91%	226.30%	546.73%	141.58%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.47	0.48	0.47	0.49	0.51	0.53	0.54	0.55	0.56	0.58
Accounts Receivable Turnover	12.65	18.66	15.56	13.61	12.29	16.29	15.06	13.85	11.92	16.03
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.54	7.52	7.68	8.20	8.66	9.01	9.69	10.04	10.35	10.62
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	28.85	19.57	23.46	26.82	29.71	22.40	24.24	26.35	30.62	22.77
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	28.85	19.57	23.46	26.82	29.71	22.40	24.24	26.35	30.62	22.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,451	1,501	1,468	1,485	1,457	1,505	1,450	1,483	1,495	1,463
Invested Capital Turnover	0.72	0.70	0.71	0.72	0.76	0.75	0.80	0.80	0.82	0.82
Increase / (Decrease) in Invested Capital	-79	-56	-77	-19	6.50	3.99	-18	-1.62	37	-42
Enterprise Value (EV)	1,295	1,683	1,983	1,513	1,660	2,056	2,336	2,528	2,057	2,096
Market Capitalization	1,443	1,817	2,121	1,627	1,797	2,203	2,528	2,723	2,279	2,295
Book Value per Share	$64.88	$66.89	$65.99	$65.01	$65.21	$67.68	$67.30	$68.19	$69.72	$67.67
Tangible Book Value per Share	$4.55	$5.07	$4.52	$4.36	$4.78	$6.10	$6.71	$7.63	$8.29	$8.57
Total Capital	1,740	1,737	1,712	1,700	1,656	1,714	1,704	1,739	1,717	1,662
Total Debt	141	101	101	101	61	61	61	61	0.00	0.00
Total Long-Term Debt	141	101	101	101	61	61	61	61	0.00	0.00
Net Debt	-148	-135	-139	-114	-137	-147	-192	-195	-222	-199
Capital Expenditures (CapEx)	9.82	4.14	8.27	9.52	9.52	9.63	9.19	11	9.42	11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-131	-104	-112	-98	-112	-89	-125	-111	-124	-96
Debt-free Net Working Capital (DFNWC)	143	119	115	109	85	119	129	145	98	88
Net Working Capital (NWC)	143	119	115	109	85	119	129	145	98	88
Net Nonoperating Expense (NNE)	0.21	0.04	1.08	-2.26	-0.59	-0.70	-1.23	0.09	-1.63	-1.25
Net Nonoperating Obligations (NNO)	-148	-135	-142	-114	-137	-147	-192	-195	-222	-199
Total Depreciation and Amortization (D&A)	16	14	15	16	15	13	11	11	11	11
Debt-free, Cash-free Net Working Capital to Revenue	-12.30%	-9.73%	-10.53%	-9.07%	-10.14%	-7.83%	-10.70%	-9.30%	-10.27%	-7.83%
Debt-free Net Working Capital to Revenue	13.38%	11.18%	10.84%	10.10%	7.74%	10.54%	11.03%	12.21%	8.06%	7.25%
Net Working Capital to Revenue	13.38%	11.18%	10.84%	10.10%	7.74%	10.54%	11.03%	12.21%	8.06%	7.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.26	$0.78	($0.09)	$0.61	$0.79	$1.67	$1.27	$1.28	$1.18	$1.08
Adjusted Weighted Average Basic Shares Outstanding	23.55M	23.68M	23.43M	23.45M	23.37M	23.40M	23.39M	23.44M	23.42M	23.41M
Adjusted Diluted Earnings per Share	$0.25	$0.77	($0.09)	$0.59	$0.77	$1.64	$1.23	$1.24	$1.15	$1.05
Adjusted Weighted Average Diluted Shares Outstanding	23.90M	24.00M	23.43M	23.96M	23.87M	23.96M	24.06M	24.18M	24.17M	24.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.45M	24.40M	24.59M	24.46M	24.42M	24.41M	24.61M	24.62M	24.57M	24.50M
Normalized Net Operating Profit after Tax (NOPAT)	7.01	16	3.27	17	20	39	25	31	27	27
Normalized NOPAT Margin	2.67%	5.86%	1.27%	5.88%	7.13%	12.99%	8.50%	10.06%	8.72%	8.68%
Pre Tax Income Margin	2.87%	10.22%	-0.37%	6.95%	9.26%	18.24%	14.87%	13.39%	12.61%	12.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	118.66%	126.93%	156.80%	160.61%	119.98%	84.22%	57.88%	50.19%	46.57%	52.33%
Augmented Payout Ratio	192.46%	212.89%	156.80%	229.26%	146.92%	98.55%	57.88%	50.19%	50.53%	62.55%

Frequently Asked Questions About Strategic Education's Financials

When does Strategic Education's fiscal year end?

According to the most recent income statement we have on file, Strategic Education's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Strategic Education's net income changed over the last 2 years?

Strategic Education's net income appears to be on an upward trend, with a most recent value of $112.68 million in 2024, rising from $46.67 million in 2022. The previous period was $69.79 million in 2023.

What is Strategic Education's operating income?

Strategic Education's total operating income in 2024 was $155.63 million, based on the following breakdown:

Total Gross Profit: $1.22 billion
Total Operating Expenses: $1.06 billion

How has Strategic Education revenue changed over the last 2 years?

Over the last 2 years, Strategic Education's total revenue changed from $1.07 billion in 2022 to $1.22 billion in 2024, a change of 14.5%.

How much debt does Strategic Education have?

Strategic Education's total liabilities were at $387.24 million at the end of 2024, a 18.1% decrease from 2023, and a 26.4% decrease since 2022.

How much cash does Strategic Education have?

In the past 2 years, Strategic Education's cash and equivalents has ranged from $137.07 million in 2024 to $213.67 million in 2022, and is currently $137.07 million as of their latest financial filing in 2024.

How has Strategic Education's book value per share changed over the last 2 years?

Over the last 2 years, Strategic Education's book value per share changed from 66.89 in 2022 to 67.67 in 2024, a change of 1.2%.

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This page (NASDAQ:STRA) was last updated on 4/15/2025 by MarketBeat.com Staff

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Strategic Education (STRA) Financials

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Strategic Education (STRA) Financials

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