Adtalem Global Education (ATGE) Financials

$106.04 -0.66 (-0.62%)

Closing price 04/17/2025 03:59 PM Eastern

Extended Trading

$106.04 +0.01 (+0.01%)

As of 04/17/2025 05:59 PM Eastern

Annual Income Statements for Adtalem Global Education

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	140	-3.17	122	34	95	-85	70	311	93	137
Consolidated Net Income / (Loss)	141	-2.76	123	34	96	-86	70	311	93	137
Net Income / (Loss) Continuing Operations	135	125	121	68	107	220	63	-36	102	138
Total Pre-Tax Income	154	151	131	156	140	205	76	-51	112	164
Total Operating Income	157	156	135	167	156	110	110	77	168	217
Total Gross Profit	910	511	570	499	542	409	441	722	802	886
Total Revenue	1,910	1,080	1,208	960	1,014	866	899	1,382	1,451	1,585
Operating Revenue	1,756	1,080	1,208	960	1,014	866	899	1,382	1,451	1,585
Total Cost of Revenue	1,000	569	638	462	472	457	458	660	648	699
Operating Cost of Revenue	1,000	569	638	462	472	457	458	660	648	699
Total Operating Expenses	753	355	434	332	386	299	331	645	634	669
Selling, General & Admin Expense	708	353	369	328	359	280	292	566	586	633
Restructuring Charge	43	2.39	13	3.85	53	24	38	79	61	36
Other Special Charges / (Income)	0.00	-	-	0.00	0.00	-4.78	0.00	0.00	-13	0.00
Total Other Income / (Expense), net	-3.25	-5.27	-4.24	-11	-16	95	-35	-128	-56	-53
Interest Expense	5.31	5.93	9.14	12	20	20	41	129	63	64
Other Income / (Expense), net	-	-	-	0.00	-0.15	111	6.73	1.11	6.97	11
Income Tax Expense	19	25	9.59	88	33	-15	12	-16	10	26
Net Income / (Loss) Discontinued Operations	5.58	-128	2.31	-34	-11	-306	6.15	347	-8.39	-0.94
Basic Earnings per Share	$2.17	($0.05)	$1.93	$0.55	$1.63	($1.59)	$1.36	$6.43	$2.08	$3.47
Weighted Average Basic Shares Outstanding	64.55M	64.04M	63.50M	61.46M	58.54M	53.66M	51.32M	48.39M	44.78M	39.41M
Diluted Earnings per Share	$2.14	($0.05)	$1.91	$0.54	$1.60	($1.58)	$1.36	$6.43	$2.05	$3.39
Weighted Average Diluted Shares Outstanding	64.55M	64.04M	63.50M	62.28M	59.33M	54.09M	51.65M	48.39M	45.60M	40.31M
Weighted Average Basic & Diluted Shares Outstanding	64.55M	64.04M	63.50M	61.46M	54.92M	51.88M	49.62M	45.20M	41.54M	37.69M

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Income / (Loss) Attributable to Common Shareholders	3.40	0.59	25	46	22	11	40	37	49	46	76
Consolidated Net Income / (Loss)	3.40	0.59	25	46	22	11	40	37	49	46	76
Net Income / (Loss) Continuing Operations	-2.21	5.51	24	49	24	12	38	37	51	46	71
Total Pre-Tax Income	21	6.64	29	49	28	15	45	48	56	58	92
Total Operating Income	41	24	46	59	40	28	59	62	69	70	104
Total Gross Profit	196	195	204	203	201	200	221	237	227	231	261
Total Revenue	357	354	363	369	365	369	393	413	410	417	448
Operating Revenue	357	354	363	369	365	369	393	413	410	417	448
Total Cost of Revenue	161	160	159	166	164	169	172	175	183	186	187
Operating Cost of Revenue	161	160	159	166	164	169	172	175	183	186	187
Total Operating Expenses	155	171	158	144	161	172	163	176	159	161	157
Selling, General & Admin Expense	135	146	142	145	153	166	156	157	155	159	157
Restructuring Charge	20	25	16	13	8.07	5.94	6.98	19	4.25	2.09	0.32
Total Other Income / (Expense), net	-20	-17	-17	-10	-12	-13	-13	-14	-13	-12	-12
Interest Expense	19	18	16	14	15	16	17	17	15	14	14
Other Income / (Expense), net	-	0.76	-1.44	3.98	3.66	2.21	3.56	2.87	1.89	2.65	2.24
Income Tax Expense	24	1.12	4.40	0.39	4.38	2.79	7.77	11	5.07	12	21
Net Income / (Loss) Discontinued Operations	5.61	-4.92	0.53	-2.69	-1.31	-1.31	2.18	-0.62	-1.18	-0.08	4.68
Basic Earnings per Share	$0.13	$0.01	$0.54	$1.02	$0.51	$0.26	$1.00	$0.95	$1.26	$1.22	$2.03
Weighted Average Basic Shares Outstanding	48.39M	45.27M	45.43M	45.13M	44.78M	41.40M	39.87M	38.71M	39.41M	37.72M	37.44M
Diluted Earnings per Share	$0.20	$0.01	$0.53	$1.00	$0.51	$0.25	$0.98	$0.93	$1.23	$1.18	$1.98
Weighted Average Diluted Shares Outstanding	48.39M	46.34M	46.12M	45.80M	45.60M	42.18M	40.79M	39.64M	40.31M	39.11M	38.40M
Weighted Average Basic & Diluted Shares Outstanding	45.20M	45.40M	45.45M	43.61M	41.54M	39.83M	39.19M	37.61M	37.69M	37.49M	37.26M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-2.77	-48	-64	205	-147	201	812	-966	-73	-54
Net Cash From Operating Activities	206	231	231	239	205	108	192	11	192	296
Net Cash From Continuing Operating Activities	206	162	202	174	185	110	169	164	195	288
Net Income / (Loss) Continuing Operations	135	125	121	68	107	220	63	-36	102	138
Consolidated Net Income / (Loss)	141	-2.76	123	34	96	-86	70	311	93	137
Net Income / (Loss) Discontinued Operations	5.58	-128	2.31	-34	-11	-306	6.15	347	-8.39	-0.94
Depreciation Expense	85	43	46	33	34	37	34	48	45	40
Amortization Expense	5.55	5.90	12	8.77	8.51	54	53	185	119	74
Non-Cash Adjustments To Reconcile Net Income	116	53	46	53	50	-87	23	51	38	78
Changes in Operating Assets and Liabilities, net	-136	-66	-23	11	-14	-114	-4.88	-84	-109	-42
Net Cash From Discontinued Operating Activities	-0.16	70	29	65	19	-1.95	23	-153	-2.78	7.41
Net Cash From Investing Activities	-156	-215	-380	-71	-214	383	-57	-552	24	-48
Net Cash From Continuing Investing Activities	-156	-229	-373	-55	-155	77	-48	-1,509	27	-48
Purchase of Property, Plant & Equipment	-89	-51	-43	-52	-58	-40	-40	-31	-26	-49
Acquisitions	-73	-177	-331	-3.07	-118	-8.44	0.00	-1,491	0.00	0.00
Purchase of Investments	-0.16	-0.11	-0.09	-0.16	-6.32	-3.02	-11	-3.62	-1.51	-0.69
Divestitures	-	-	0.00	0.00	0.00	314	-	961	0.00	0.00
Sale and/or Maturity of Investments	-	-	0.00	0.00	1.84	114	2.72	13	54	1.73
Other Investing Activities, net	-	-	-6.49	-17	26	0.09	0.00	0.00	-3.17	0.00
Net Cash From Financing Activities	-49	-69	86	37	-138	-256	676	-424	-289	-302
Net Cash From Continuing Financing Activities	-49	-69	86	49	-135	-253	676	-424	-289	-302
Repayment of Debt	-9.50	-12	-407	-413	-28	-333	-21	-1,129	-151	-52
Repurchase of Common Equity	-26	-33	-49	-137	-253	-137	-100	-120	-123	-262
Payment of Dividends	-23	-23	-11	0.00	0.00	-6.25	0.00	-1.79	0.00	0.00
Issuance of Debt	0.00	0.00	527	578	135	225	800	850	0.00	1.90
Issuance of Common Equity	1.20	1.15	0.87	0.90	0.42	0.02	0.26	0.54	0.61	0.81
Other Financing Activities, net	8.83	-3.14	25	20	10	-1.72	-2.75	-24	-15	9.36
Cash Interest Paid	1.80	3.51	7.33	12	20	20	14	107	53	58
Cash Income Taxes Paid	24	1.42	15	8.37	3.23	12	26	94	12	31

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Change in Cash & Equivalents	-443	-18	-120	107	-42	-11	-78	1.25	34	46	-71
Net Cash From Operating Activities	-41	91	-50	108	42	95	-13	163	41	89	-19
Net Cash From Continuing Operating Activities	105	91	-49	108	45	86	-14	164	42	90	-24
Net Income / (Loss) Continuing Operations	1.14	5.51	24	49	24	12	38	37	51	46	71
Consolidated Net Income / (Loss)	6.75	0.59	25	46	22	11	40	37	49	46	76
Net Income / (Loss) Discontinued Operations	5.61	-4.92	0.53	-2.69	-1.31	-1.31	2.18	-0.62	-1.18	-0.08	4.68
Depreciation Expense	12	14	11	11	9.76	9.34	10	11	7.99	9.80	10
Amortization Expense	41	42	28	25	24	21	19	18	16	11	11
Non-Cash Adjustments To Reconcile Net Income	12	13	14	-2.23	13	18	18	18	24	23	27
Changes in Operating Assets and Liabilities, net	39	16	-126	26	-25	26	-99	79	-57	-0.01	-143
Net Cash From Discontinued Operating Activities	-146	-0.13	-0.73	0.46	-2.37	8.96	0.56	-1.12	-0.99	-0.25	4.59
Net Cash From Investing Activities	-10	-6.31	-6.61	44	-6.96	-10	-9.15	-22	4.04	-9.54	-11
Net Cash From Continuing Investing Activities	-8.61	-5.50	-4.25	44	-6.96	-10	-9.15	-22	4.04	-9.54	-11
Purchase of Property, Plant & Equipment	-8.81	-5.55	-4.20	-9.31	-6.96	-10	-9.18	-22	3.12	-10	-11
Purchase of Investments	-2.31	-0.31	-0.95	-0.25	-	-0.30	-0.20	-	-0.19	-1.31	-0.24
Sale and/or Maturity of Investments	13	0.36	0.90	53	-	0.40	0.23	-	1.11	2.19	0.24
Net Cash From Financing Activities	-392	-103	-63	-44	-78	-95	-56	-140	-11	-34	-42
Net Cash From Continuing Financing Activities	-392	-103	-63	-44	-78	-95	-56	-140	-11	-34	-42
Repurchase of Common Equity	-	0.00	-	-45	-78	-90	-70	-90	-12	-33	-41
Issuance of Common Equity	0.14	0.13	0.16	0.16	0.16	0.19	0.17	0.22	0.23	0.30	0.27
Other Financing Activities, net	0.34	-2.25	-14	0.09	0.63	-5.10	14	0.00	0.55	-1.22	-1.15

This table presents Adtalem Global 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	2,040	2,097	2,315	2,345	2,243	2,229	3,085	3,030	2,811	2,741
Total Current Assets	560	518	471	688	505	693	1,515	557	480	418
Cash & Equivalents	353	308	240	431	204	501	476	347	272	219
Note & Lease Receivable	-	-	-	-	-	87	43	82	103	127
Prepaid Expenses	53	37	37	59	29	105	128	128	102	70
Plant, Property, & Equipment, net	546	522	489	389	283	286	284	290	245	249
Total Noncurrent Assets	934	1,057	1,355	1,268	1,455	1,250	1,286	2,183	2,086	2,067
Goodwill	552	588	829	814	687	686	310	961	961	961
Intangible Assets	324	343	392	363	298	288	138	874	812	777
Noncurrent Deferred & Refundable Income Taxes	7.10	53	35	39	13	22	53	51	57	49
Other Noncurrent Operating Assets	51	74	37	39	52	254	253	297	255	280
Total Liabilities & Shareholders' Equity	2,040	2,097	2,315	2,345	2,243	2,229	3,085	3,030	2,811	2,741
Total Liabilities	445	510	640	817	842	915	1,782	1,539	1,353	1,372
Total Current Liabilities	322	362	377	366	312	346	409	424	431	488
Accounts Payable	63	65	43	47	53	46	42	57	82	103
Accrued Expenses	85	103	90	81	77	104	126	98	106	97
Current Deferred Revenue	90	100	104	107	96	92	69	150	154	185
Current Employee Benefit Liabilities	83	93	77	71	47	49	54	68	52	71
Other Current Liabilities	-	-	-	-	0.00	52	54	51	38	31
Total Noncurrent Liabilities	123	148	262	451	530	569	1,373	1,115	922	885
Long-Term Debt	-	0.00	125	290	398	286	1,068	839	695	649
Noncurrent Deferred & Payable Income Tax Liabilities	22	30	35	29	25	25	26	26	26	30
Other Noncurrent Operating Liabilities	-	-	102	131	84	258	79	251	201	206
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,594	1,587	1,675	1,528	1,401	1,313	1,303	1,491	1,457	1,369
Total Preferred & Common Equity	1,585	1,582	1,669	1,519	1,392	1,310	1,301	1,491	1,457	1,369
Total Common Equity	1,585	1,582	1,669	1,519	1,392	1,310	1,301	1,491	1,457	1,369
Common Stock	351	373	417	455	487	505	521	523	570	613
Retained Earnings	1,796	1,771	1,881	1,917	2,013	1,928	2,005	2,310	2,404	2,541
Treasury Stock	-485	-519	-570	-711	-971	-1,113	-1,217	-1,339	-1,514	-1,782
Accumulated Other Comprehensive Income / (Loss)	-77	-42	-59	-142	-137	-9.06	-7.37	-2.23	-2.23	-2.23

This table presents Adtalem Global 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	Q1 2025	Q2 2025
Total Assets	3,520	2,996	2,843	2,867	2,794	2,701	2,715	2,818	2,723
Total Current Assets	1,012	570	423	533	473	378	388	517	407
Cash & Equivalents	789	328	208	315	262	183	180	265	194
Note & Lease Receivable	96	112	100	113	148	134	141	172	147
Prepaid Expenses	125	128	114	103	61	58	59	79	65
Plant, Property, & Equipment, net	295	282	276	253	265	260	273	245	246
Total Noncurrent Assets	2,213	2,145	2,144	2,081	2,056	2,062	2,055	2,048	2,062
Goodwill	961	961	961	961	961	961	961	961	961
Intangible Assets	897	855	839	825	802	792	784	774	771
Noncurrent Deferred & Refundable Income Taxes	48	49	52	54	55	58	64	33	28
Other Noncurrent Operating Assets	307	279	292	241	239	251	245	280	301
Total Liabilities & Shareholders' Equity	3,520	2,996	2,843	2,867	2,794	2,701	2,715	2,818	2,723
Total Liabilities	2,041	1,486	1,320	1,357	1,415	1,332	1,394	1,428	1,284
Total Current Liabilities	526	491	371	438	496	399	509	551	385
Accounts Payable	67	64	71	73	77	88	92	91	67
Accrued Expenses	177	94	94	87	89	98	114	87	62
Current Deferred Revenue	172	227	116	175	251	135	203	291	172
Current Employee Benefit Liabilities	58	55	42	56	43	46	68	50	51
Other Current Liabilities	51	50	48	46	36	32	32	32	33
Total Noncurrent Liabilities	1,515	995	949	919	920	933	885	876	899
Long-Term Debt	1,225	742	694	694	696	696	648	649	650
Noncurrent Deferred & Payable Income Tax Liabilities	26	26	27	27	26	27	29	30	32
Other Noncurrent Operating Liabilities	74	63	62	197	198	41	48	197	217
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,479	1,510	1,523	1,510	1,379	1,369	1,321	1,390	1,439
Total Preferred & Common Equity	1,479	1,510	1,523	1,510	1,379	1,369	1,321	1,390	1,439
Total Common Equity	1,479	1,510	1,523	1,510	1,379	1,369	1,321	1,390	1,439
Common Stock	518	530	562	565	578	598	605	632	644
Retained Earnings	2,304	2,325	2,349	2,382	2,414	2,454	2,491	2,587	2,663
Treasury Stock	-1,340	-1,343	-1,386	-1,434	-1,611	-1,681	-1,772	-1,826	-1,865
Accumulated Other Comprehensive Income / (Loss)	-3.42	-2.23	-2.23	-2.23	-2.23	-2.23	-2.23	-2.23	-2.23

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.70%	-43.45%	11.84%	-20.50%	5.58%	-14.54%	3.79%	53.67%	4.99%	9.22%
EBITDA Growth	-8.71%	-17.04%	-5.91%	8.16%	-5.26%	57.61%	-34.51%	52.01%	9.25%	0.69%
EBIT Growth	-13.44%	-0.52%	-13.19%	23.37%	-6.87%	41.83%	-46.95%	-33.53%	124.95%	29.95%
NOPAT Growth	-9.98%	-5.87%	-3.30%	-41.99%	63.56%	-0.91%	-21.71%	-41.89%	184.30%	19.38%
Net Income Growth	4.45%	-101.96%	4,573.15%	-72.18%	178.69%	-189.74%	181.13%	346.87%	-69.98%	46.51%
EPS Growth	3.38%	-102.34%	3,920.00%	-71.73%	196.30%	-198.75%	186.08%	372.79%	-68.12%	65.37%
Operating Cash Flow Growth	-22.62%	12.64%	-0.24%	3.58%	-14.35%	-47.43%	78.47%	-94.48%	1,710.34%	54.12%
Free Cash Flow Firm Growth	-47.51%	9.94%	-238.39%	268.75%	110.64%	-81.25%	431.43%	-368.96%	122.03%	5.08%
Invested Capital Growth	4.90%	3.35%	19.58%	-8.86%	-22.95%	3.40%	-31.10%	161.26%	-5.30%	-4.72%
Revenue Q/Q Growth	-0.62%	-41.46%	46.46%	-4.24%	26.98%	-17.99%	11.43%	16.03%	0.51%	2.94%
EBITDA Q/Q Growth	-2.89%	52.06%	-23.71%	-17.23%	26.12%	22.87%	11.50%	27.76%	-4.00%	5.50%
EBIT Q/Q Growth	-5.45%	235.22%	-38.12%	-17.33%	23.68%	25.91%	28.35%	75.79%	3.18%	13.57%
NOPAT Q/Q Growth	-4.50%	198.23%	-33.83%	2.03%	-18.67%	-21.70%	-13.38%	73.29%	24.90%	19.31%
Net Income Q/Q Growth	-5.18%	-107.43%	75.30%	132.11%	-12.04%	-138.96%	136.90%	0.44%	25.29%	24.79%
EPS Q/Q Growth	-5.31%	-108.93%	75.23%	217.65%	-11.60%	-139.30%	139.19%	2.23%	17.82%	26.97%
Operating Cash Flow Q/Q Growth	-2.94%	7.26%	27.17%	-2.13%	11.06%	-40.78%	31.35%	-89.39%	77.43%	-0.65%
Free Cash Flow Firm Q/Q Growth	4.63%	810.84%	21.91%	12.91%	-30.44%	135.25%	-36.97%	10.27%	-23.71%	173.58%
Invested Capital Q/Q Growth	5.90%	4.41%	-2.89%	-4.65%	9.94%	-18.53%	-1.26%	-5.75%	-0.55%	-7.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	47.64%	47.32%	47.16%	51.94%	53.47%	47.24%	49.08%	52.25%	55.30%	55.92%
EBITDA Margin	12.96%	19.01%	15.99%	21.76%	19.52%	36.01%	22.72%	22.48%	23.39%	21.56%
Operating Margin	8.22%	14.45%	11.22%	17.41%	15.37%	12.70%	12.28%	5.55%	11.59%	13.70%
EBIT Margin	8.22%	14.45%	11.22%	17.41%	15.36%	25.48%	13.03%	5.63%	12.07%	14.36%
Profit (Net Income) Margin	7.37%	-0.26%	10.21%	3.57%	9.43%	-9.90%	7.74%	22.51%	6.43%	8.63%
Tax Burden Percent	91.57%	-1.83%	93.92%	21.96%	68.40%	-41.85%	91.85%	-603.94%	83.33%	83.43%
Interest Burden Percent	97.93%	96.63%	96.87%	93.43%	89.77%	92.84%	64.68%	-66.14%	63.97%	72.03%
Effective Tax Rate	12.06%	16.79%	7.31%	56.41%	23.53%	-7.29%	16.26%	0.00%	9.18%	16.00%
Return on Invested Capital (ROIC)	11.51%	10.41%	9.02%	5.03%	9.74%	10.90%	9.94%	3.92%	7.91%	9.95%
ROIC Less NNEP Spread (ROIC-NNEP)	10.78%	49.06%	9.99%	30.33%	19.52%	85.30%	15.99%	-964.82%	-5.12%	-0.90%
Return on Net Nonoperating Assets (RNNOA)	-2.54%	-10.58%	-1.46%	-2.89%	-3.21%	-17.22%	-4.62%	18.34%	-1.58%	-0.27%
Return on Equity (ROE)	8.98%	-0.17%	7.56%	2.14%	6.53%	-6.32%	5.32%	22.26%	6.33%	9.68%
Cash Return on Invested Capital (CROIC)	6.73%	7.11%	-8.82%	14.29%	35.66%	7.56%	46.77%	-85.36%	13.36%	14.78%
Operating Return on Assets (OROA)	7.77%	7.55%	6.14%	7.17%	6.79%	9.88%	4.41%	2.55%	6.00%	8.20%
Return on Assets (ROA)	6.97%	-0.13%	5.59%	1.47%	4.17%	-3.84%	2.62%	10.17%	3.20%	4.93%
Return on Common Equity (ROCE)	8.93%	-0.17%	7.53%	2.13%	6.48%	-6.29%	5.31%	22.25%	6.33%	9.68%
Return on Equity Simple (ROE_SIMPLE)	8.88%	-0.17%	7.39%	2.26%	6.87%	-6.55%	5.35%	20.85%	6.41%	9.99%
Net Operating Profit after Tax (NOPAT)	138	130	126	73	119	118	92	54	153	182
NOPAT Margin	7.22%	12.03%	10.40%	7.59%	11.75%	13.63%	10.28%	3.89%	10.53%	11.51%
Net Nonoperating Expense Percent (NNEP)	0.74%	-38.65%	-0.97%	-25.30%	-9.78%	-74.40%	-6.05%	968.74%	13.04%	10.85%
Cost of Revenue to Revenue	52.36%	52.68%	52.84%	48.07%	46.53%	52.76%	50.92%	47.75%	44.70%	44.08%
SG&A Expenses to Revenue	37.08%	32.65%	30.55%	34.13%	35.44%	32.35%	32.53%	41.00%	40.39%	39.94%
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	39.42%	32.87%	35.94%	34.53%	38.10%	34.53%	36.80%	46.70%	43.71%	42.22%
Earnings before Interest and Taxes (EBIT)	157	156	135	167	156	221	117	78	175	228
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	247	205	193	209	198	312	204	311	339	342
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.18	0.70	1.42	1.91	1.83	1.23	1.35	1.09	1.03	1.87
Price to Tangible Book Value (P/TBV)	2.63	1.71	5.31	8.46	6.27	4.79	2.06	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.98	1.03	1.97	3.02	2.51	1.86	1.96	1.18	1.03	1.62
Price to Earnings (P/E)	13.34	0.00	19.44	85.79	26.78	0.00	25.15	5.22	16.04	18.75
Dividend Yield	1.23%	2.03%	0.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.50%	0.00%	5.15%	1.17%	3.73%	0.00%	3.98%	19.15%	6.23%	5.33%
Enterprise Value to Invested Capital (EV/IC)	1.23	0.63	1.49	2.00	2.58	1.28	2.25	1.07	1.02	1.67
Enterprise Value to Revenue (EV/Rev)	0.79	0.74	1.87	2.88	2.71	1.62	1.90	1.53	1.32	1.89
Enterprise Value to EBITDA (EV/EBITDA)	6.09	3.89	11.71	13.23	13.87	4.50	8.35	6.81	5.66	8.76
Enterprise Value to EBIT (EV/EBIT)	9.61	5.12	16.70	16.53	17.64	6.36	14.56	27.18	10.97	13.16
Enterprise Value to NOPAT (EV/NOPAT)	10.93	6.15	18.01	37.93	23.04	11.89	18.45	39.38	12.57	16.42
Enterprise Value to Operating Cash Flow (EV/OCF)	7.34	3.45	9.80	11.56	13.40	13.04	8.87	199.58	10.01	10.12
Enterprise Value to Free Cash Flow (EV/FCFF)	18.69	9.00	0.00	13.34	6.29	17.16	3.92	0.00	7.45	11.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.07	0.19	0.29	0.22	0.95	0.56	0.48	0.47
Long-Term Debt to Equity	0.00	0.00	0.07	0.19	0.28	0.22	0.95	0.56	0.48	0.47
Financial Leverage	-0.24	-0.22	-0.15	-0.10	-0.16	-0.20	-0.29	-0.02	0.31	0.30
Leverage Ratio	1.29	1.30	1.35	1.45	1.57	1.65	2.03	2.19	1.98	1.96
Compound Leverage Factor	1.26	1.26	1.31	1.36	1.41	1.53	1.31	-1.45	1.27	1.41
Debt to Total Capital	0.00%	0.00%	6.94%	16.09%	22.26%	18.04%	48.72%	36.00%	32.29%	32.15%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.16%	0.17%	0.19%	0.12%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	6.94%	15.93%	22.09%	17.86%	48.60%	36.00%	32.29%	32.15%
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	0.60%	0.32%	0.35%	0.50%	0.53%	0.18%	0.07%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.40%	99.68%	92.71%	83.41%	77.21%	81.78%	51.21%	64.00%	67.71%	67.85%
Debt to EBITDA	0.00	0.00	0.65	1.40	2.03	0.93	6.06	2.70	2.05	1.90
Net Debt to EBITDA	0.00	0.00	-0.63	-0.68	0.95	-0.68	-0.28	1.58	1.25	1.26
Long-Term Debt to EBITDA	0.00	0.00	0.65	1.39	2.01	0.92	6.04	2.70	2.05	1.90
Debt to NOPAT	0.00	0.00	1.00	4.02	3.37	2.45	13.39	15.62	4.55	3.56
Net Debt to NOPAT	0.00	0.00	-0.96	-1.95	1.57	-1.80	-0.62	9.16	2.77	2.36
Long-Term Debt to NOPAT	0.00	0.00	1.00	3.98	3.34	2.42	13.36	15.62	4.55	3.56
Altman Z-Score	5.08	3.34	4.13	4.08	3.86	3.17	2.35	2.29	2.60	3.24
Noncontrolling Interest Sharing Ratio	0.51%	0.46%	0.35%	0.48%	0.64%	0.46%	0.18%	0.06%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.74	1.43	1.25	1.88	1.62	2.00	3.71	1.32	1.11	0.86
Quick Ratio	1.54	1.31	1.04	1.59	0.95	1.70	1.27	1.01	0.87	0.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	81	89	-123	207	436	82	435	-1,170	258	271
Operating Cash Flow to CapEx	248.77%	449.87%	543.24%	463.35%	355.82%	324.53%	481.93%	34.14%	737.73%	604.94%
Free Cash Flow to Firm to Interest Expense	15.19	14.95	-13.43	17.89	21.93	4.20	10.52	-9.04	4.08	4.25
Operating Cash Flow to Interest Expense	38.68	39.01	25.25	20.65	10.30	5.52	4.65	0.08	3.04	4.65
Operating Cash Flow Less CapEx to Interest Expense	23.13	30.34	20.61	16.20	7.40	3.82	3.68	-0.16	2.63	3.88
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.95	0.52	0.55	0.41	0.44	0.39	0.34	0.45	0.50	0.57
Accounts Receivable Turnover	14.05	7.16	7.77	6.50	8.81	0.00	0.00	0.00	0.00	0.00
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	3.47	2.02	2.39	2.19	3.02	3.04	3.16	4.82	5.43	6.43
Accounts Payable Turnover	17.34	8.91	11.84	10.19	9.36	9.16	10.30	13.25	9.33	7.57
Days Sales Outstanding (DSO)	25.97	50.95	47.00	56.14	41.45	0.00	0.00	0.00	0.00	0.00
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)	21.05	40.98	30.82	35.81	39.02	39.87	35.43	27.54	39.10	48.19
Cash Conversion Cycle (CCC)	4.92	9.97	16.18	20.33	2.44	-39.87	-35.43	-27.54	-39.10	-48.19
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,227	1,268	1,517	1,382	1,065	1,101	759	1,982	1,877	1,789
Invested Capital Turnover	1.59	0.87	0.87	0.66	0.83	0.80	0.97	1.01	0.75	0.86
Increase / (Decrease) in Invested Capital	57	41	248	-134	-317	36	-343	1,224	-105	-89
Enterprise Value (EV)	1,508	799	2,262	2,764	2,746	1,405	1,706	2,116	1,920	2,995
Market Capitalization	1,866	1,113	2,377	2,897	2,549	1,614	1,761	1,624	1,498	2,565
Book Value per Share	$24.87	$25.21	$26.65	$25.23	$24.59	$25.30	$26.32	$33.04	$33.42	$36.41
Tangible Book Value per Share	$11.12	$10.38	$7.15	$5.69	$7.18	$6.50	$17.27	($7.61)	($7.25)	($9.81)
Total Capital	1,594	1,587	1,800	1,821	1,802	1,602	2,541	2,330	2,152	2,018
Total Debt	0.00	0.00	125	293	401	289	1,238	839	695	649
Total Long-Term Debt	0.00	0.00	125	290	398	286	1,235	839	695	649
Net Debt	-367	-319	-121	-142	187	-212	-58	492	423	429
Capital Expenditures (CapEx)	83	51	43	52	58	33	40	31	26	49
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-130	-163	-152	-110	-18	-151	-186	-214	-223	-289
Debt-free Net Working Capital (DFNWC)	238	156	94	325	196	350	1,109	133	49	-70
Net Working Capital (NWC)	238	156	94	322	193	347	1,106	133	49	-70
Net Nonoperating Expense (NNE)	-2.72	133	2.31	39	24	204	23	-257	59	46
Net Nonoperating Obligations (NNO)	-367	-319	-159	-146	-336	-212	-544	491	420	420
Total Depreciation and Amortization (D&A)	91	49	58	42	42	91	87	233	164	114
Debt-free, Cash-free Net Working Capital to Revenue	-6.79%	-15.06%	-12.57%	-11.46%	-1.76%	-17.47%	-20.71%	-15.45%	-15.38%	-18.23%
Debt-free Net Working Capital to Revenue	12.44%	14.47%	7.77%	33.87%	19.34%	40.37%	123.34%	9.66%	3.38%	-4.39%
Net Working Capital to Revenue	12.44%	14.47%	7.77%	33.55%	19.04%	40.02%	123.01%	9.66%	3.38%	-4.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.17	($0.05)	$1.93	$0.55	$1.63	($1.59)	$1.50	$6.57	$2.08	$3.47
Adjusted Weighted Average Basic Shares Outstanding	63.51M	62.35M	62.08M	59.93M	54.92M	53.66M	51.32M	48.39M	44.78M	39.41M
Adjusted Diluted Earnings per Share	$2.14	($0.05)	$1.91	$0.54	$1.60	($1.58)	$1.49	$6.57	$2.05	$3.39
Adjusted Weighted Average Diluted Shares Outstanding	63.51M	62.35M	62.08M	59.93M	54.92M	54.09M	51.65M	48.39M	45.60M	40.31M
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	63.51M	62.35M	62.08M	59.93M	54.92M	51.88M	49.62M	45.20M	41.54M	37.69M
Normalized Net Operating Profit after Tax (NOPAT)	177	132	138	120	160	90	125	109	196	213
Normalized NOPAT Margin	9.28%	12.21%	11.39%	12.47%	15.76%	10.42%	13.86%	7.88%	13.54%	13.42%
Pre Tax Income Margin	8.05%	13.96%	10.87%	16.26%	13.78%	23.66%	8.43%	-3.73%	7.72%	10.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	29.53	26.30	14.82	14.43	7.82	11.32	2.83	0.60	2.78	3.58
NOPAT to Interest Expense	25.97	21.89	13.74	6.29	5.99	6.05	2.24	0.42	2.42	2.86
EBIT Less CapEx to Interest Expense	13.99	17.63	10.17	9.98	4.93	9.62	1.87	0.36	2.36	2.81
NOPAT Less CapEx to Interest Expense	10.42	13.22	9.09	1.83	3.10	4.35	1.27	0.18	2.01	2.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.51%	-833.71%	9.26%	0.00%	0.00%	-7.28%	0.00%	0.58%	0.00%	0.00%
Augmented Payout Ratio	34.93%	-2,017.82%	48.61%	399.53%	264.54%	-166.87%	143.69%	39.16%	131.89%	191.53%

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	114.72%	22.55%	-2.25%	1.32%	2.06%	4.11%	8.38%	11.81%	12.41%	13.16%	13.86%
EBITDA Growth	188.03%	129.55%	0.37%	0.68%	-18.48%	-25.64%	10.73%	-4.95%	23.15%	55.04%	39.52%
EBIT Growth	206.96%	210.57%	72.34%	94.38%	5.09%	24.65%	40.95%	1.87%	62.92%	139.69%	70.66%
NOPAT Growth	-169.96%	227.15%	122.54%	155.62%	885.78%	16.40%	26.13%	-18.40%	86.72%	143.32%	65.00%
Net Income Growth	65.55%	101.02%	38.09%	-86.81%	553.85%	1,698.31%	61.81%	-19.73%	122.17%	333.64%	90.16%
EPS Growth	233.33%	100.85%	47.22%	-85.80%	155.00%	2,400.00%	84.91%	-7.00%	141.18%	372.00%	102.04%
Operating Cash Flow Growth	-185.88%	123.54%	-25.55%	112.76%	203.01%	4.08%	73.55%	50.57%	-4.53%	-6.06%	-44.03%
Free Cash Flow Firm Growth	-452.24%	110.56%	109.10%	120.93%	111.27%	148.20%	34.86%	-102.08%	8.98%	-66.27%	40.17%
Invested Capital Growth	161.26%	-4.62%	-3.98%	-10.25%	-5.30%	-13.26%	-5.74%	2.85%	-4.72%	-2.51%	-7.94%
Revenue Q/Q Growth	-1.92%	-0.85%	2.42%	1.72%	-1.20%	1.15%	6.61%	4.94%	-0.67%	1.83%	7.27%
EBITDA Q/Q Growth	-3.75%	-14.07%	1.59%	19.83%	-22.07%	-21.61%	51.27%	1.86%	0.97%	-1.32%	36.13%
EBIT Q/Q Growth	26.07%	-40.68%	80.82%	43.75%	-31.84%	-29.65%	104.47%	3.89%	9.01%	3.50%	45.58%
NOPAT Q/Q Growth	-118.41%	562.59%	96.21%	53.01%	-43.42%	-31.48%	112.62%	-1.01%	29.46%	-10.70%	44.18%
Net Income Q/Q Growth	-99.02%	-82.60%	4,064.36%	86.06%	-51.51%	-52.14%	274.70%	-7.70%	34.21%	-6.58%	64.32%
EPS Q/Q Growth	-97.16%	-95.00%	5,200.00%	88.68%	-49.00%	-50.98%	292.00%	-5.10%	32.26%	-4.07%	67.80%
Operating Cash Flow Q/Q Growth	-181.27%	321.42%	-154.66%	316.30%	-60.65%	123.72%	-113.89%	2,390.11%	-75.05%	120.15%	-121.29%
Free Cash Flow Firm Q/Q Growth	6.39%	109.83%	6.49%	113.65%	-49.59%	116.42%	-42.14%	-103.30%	2,739.04%	-33.02%	140.48%
Invested Capital Q/Q Growth	-5.75%	5.26%	4.14%	-13.13%	-0.55%	-3.59%	13.17%	-5.22%	-7.86%	-1.36%	6.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	54.86%	54.94%	56.09%	55.07%	55.10%	54.28%	56.24%	57.51%	55.47%	55.44%	58.32%
EBITDA Margin	26.43%	22.91%	22.72%	26.77%	21.11%	16.36%	23.21%	22.75%	23.13%	22.41%	28.45%
Operating Margin	11.51%	6.67%	12.55%	16.10%	10.85%	7.64%	14.90%	14.96%	16.72%	16.83%	23.20%
EBIT Margin	11.51%	6.89%	12.16%	17.18%	11.85%	8.24%	15.81%	15.65%	17.18%	17.46%	23.70%
Profit (Net Income) Margin	0.95%	0.17%	6.79%	12.43%	6.10%	2.89%	10.14%	8.92%	12.06%	11.06%	16.94%
Tax Burden Percent	15.91%	8.92%	86.44%	93.70%	79.65%	72.17%	87.71%	76.65%	88.77%	79.05%	82.28%
Interest Burden Percent	51.99%	27.20%	64.66%	77.20%	64.61%	48.51%	73.15%	74.36%	79.05%	80.13%	86.89%
Effective Tax Rate	110.32%	16.91%	15.41%	0.79%	15.67%	18.93%	17.08%	22.06%	9.10%	20.82%	22.80%
Return on Invested Capital (ROIC)	-1.20%	3.75%	6.89%	11.56%	6.88%	4.66%	8.76%	9.37%	13.14%	12.18%	15.37%
ROIC Less NNEP Spread (ROIC-NNEP)	-29.99%	1.21%	5.18%	8.94%	4.44%	2.24%	7.45%	7.11%	10.07%	9.83%	14.60%
Return on Net Nonoperating Assets (RNNOA)	0.57%	0.65%	2.99%	3.00%	1.37%	0.78%	3.42%	2.51%	2.99%	2.86%	5.85%
Return on Equity (ROE)	-0.63%	4.41%	9.88%	14.55%	8.25%	5.44%	12.18%	11.88%	16.13%	15.04%	21.22%
Cash Return on Invested Capital (CROIC)	-85.36%	16.02%	7.97%	16.93%	13.36%	22.18%	13.73%	5.17%	14.78%	14.55%	20.77%
Operating Return on Assets (OROA)	5.20%	2.93%	5.38%	7.77%	5.89%	4.17%	8.53%	8.63%	9.81%	10.16%	14.75%
Return on Assets (ROA)	0.43%	0.07%	3.01%	5.62%	3.03%	1.46%	5.47%	4.92%	6.88%	6.44%	10.54%
Return on Common Equity (ROCE)	-0.63%	4.40%	9.87%	14.55%	8.25%	5.44%	12.18%	11.88%	16.13%	15.04%	21.22%
Return on Equity Simple (ROE_SIMPLE)	0.00%	24.48%	24.72%	4.93%	0.00%	7.50%	8.66%	8.30%	0.00%	12.40%	14.47%
Net Operating Profit after Tax (NOPAT)	-4.25	20	39	59	33	23	49	48	62	56	80
NOPAT Margin	-1.19%	5.54%	10.62%	15.97%	9.15%	6.20%	12.36%	11.66%	15.19%	13.32%	17.91%
Net Nonoperating Expense Percent (NNEP)	28.80%	2.54%	1.71%	2.61%	2.44%	2.42%	1.31%	2.26%	3.06%	2.35%	0.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	2.18%	-	-	-	3.84%
Cost of Revenue to Revenue	45.14%	45.06%	43.91%	44.93%	44.90%	45.72%	43.76%	42.49%	44.53%	44.56%	41.69%
SG&A Expenses to Revenue	37.67%	41.32%	39.08%	39.16%	42.04%	45.03%	39.56%	37.97%	37.72%	38.11%	35.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.35%	48.27%	43.54%	38.97%	44.25%	46.64%	41.34%	42.56%	38.75%	38.61%	35.12%
Earnings before Interest and Taxes (EBIT)	41	24	44	63	43	30	62	65	70	73	106
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	94	81	82	99	77	60	91	94	95	94	127
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.09	1.09	1.06	1.16	1.03	1.29	1.71	1.52	1.87	2.05	2.37
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.18	1.14	1.12	1.22	1.03	1.21	1.57	1.31	1.62	1.74	2.02
Price to Earnings (P/E)	5.22	4.46	4.28	23.56	16.04	17.21	19.79	18.38	18.75	16.51	16.35
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	19.15%	22.43%	23.35%	4.25%	6.23%	5.81%	5.05%	5.44%	5.33%	6.06%	6.11%
Enterprise Value to Invested Capital (EV/IC)	1.07	1.07	1.04	1.13	1.02	1.22	1.48	1.36	1.67	1.83	2.05
Enterprise Value to Revenue (EV/Rev)	1.53	1.54	1.57	1.48	1.32	1.51	2.02	1.71	1.89	1.98	2.29
Enterprise Value to EBITDA (EV/EBITDA)	6.81	6.27	6.33	6.04	5.66	6.95	9.25	8.14	8.76	8.61	9.40
Enterprise Value to EBIT (EV/EBIT)	27.18	18.17	15.79	12.57	10.97	12.22	15.19	13.15	13.16	11.96	12.30
Enterprise Value to NOPAT (EV/NOPAT)	39.38	9.22	26.08	17.45	12.57	14.23	18.34	17.24	16.42	15.04	15.71
Enterprise Value to Operating Cash Flow (EV/OCF)	199.58	36.41	44.42	19.73	10.01	11.31	13.03	8.85	10.12	11.14	13.59
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	6.50	12.80	6.32	7.45	5.12	10.45	26.61	11.06	12.42	9.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.56	0.60	0.57	0.46	0.48	0.50	0.63	0.61	0.47	0.47	0.45
Long-Term Debt to Equity	0.56	0.60	0.57	0.46	0.48	0.50	0.63	0.61	0.47	0.47	0.45
Financial Leverage	-0.02	0.54	0.58	0.34	0.31	0.35	0.46	0.35	0.30	0.29	0.40
Leverage Ratio	2.19	2.45	2.31	2.14	1.98	2.00	1.92	1.97	1.96	2.03	1.93
Compound Leverage Factor	1.14	0.67	1.50	1.65	1.28	0.97	1.40	1.47	1.55	1.62	1.68
Debt to Total Capital	36.00%	37.51%	36.10%	31.50%	32.29%	33.54%	38.71%	37.95%	32.15%	31.84%	31.11%
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%	0.00%
Long-Term Debt to Total Capital	36.00%	37.51%	36.10%	31.50%	32.29%	33.54%	38.71%	37.95%	32.15%	31.84%	31.11%
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%	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%	0.00%
Common Equity to Total Capital	64.00%	62.49%	63.90%	68.50%	67.71%	66.46%	61.29%	62.05%	67.85%	68.16%	68.89%
Debt to EBITDA	2.70	2.56	2.41	1.96	2.05	2.18	2.64	2.49	1.90	1.73	1.58
Net Debt to EBITDA	1.58	1.63	1.82	1.07	1.25	1.36	2.07	1.92	1.26	1.03	1.11
Long-Term Debt to EBITDA	2.70	2.56	2.41	1.96	2.05	2.18	2.64	2.49	1.90	1.73	1.58
Debt to NOPAT	15.62	3.76	9.92	5.68	4.55	4.47	5.24	5.29	3.56	3.02	2.64
Net Debt to NOPAT	9.16	2.39	7.50	3.10	2.77	2.79	4.11	4.06	2.36	1.79	1.85
Long-Term Debt to NOPAT	15.62	3.76	9.92	5.68	4.55	4.47	5.24	5.29	3.56	3.02	2.64
Altman Z-Score	2.25	2.29	2.47	2.56	2.45	2.51	2.95	2.74	3.05	3.13	3.72
Noncontrolling Interest Sharing Ratio	0.06%	0.06%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.32	1.16	1.14	1.22	1.11	0.95	0.95	0.76	0.86	0.94	1.06
Quick Ratio	1.01	0.90	0.83	0.98	0.87	0.83	0.79	0.63	0.71	0.79	0.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,228	121	128	275	138	299	173	-5.71	151	101	243
Operating Cash Flow to CapEx	-468.54%	1,645.58%	-1,189.97%	1,160.19%	610.76%	911.18%	-143.88%	749.89%	0.00%	857.65%	-178.08%
Free Cash Flow to Firm to Interest Expense	-63.16	6.79	8.24	18.99	9.05	19.13	10.38	-0.35	10.22	6.97	17.46
Operating Cash Flow to Interest Expense	-2.12	5.14	-3.20	7.47	2.78	6.07	-0.79	9.82	2.75	6.17	-1.37
Operating Cash Flow Less CapEx to Interest Expense	-2.58	4.83	-3.47	6.83	2.32	5.41	-1.34	8.51	2.96	5.45	-2.14
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.45	0.43	0.44	0.45	0.50	0.51	0.54	0.55	0.57	0.58	0.62
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	4.82	4.90	4.98	5.27	5.43	5.36	5.58	5.86	6.43	6.41	6.67
Accounts Payable Turnover	13.25	8.13	9.46	9.19	9.33	9.31	8.42	8.21	7.57	8.51	9.42
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	27.54	44.87	38.58	39.71	39.10	39.22	43.37	44.44	48.19	42.90	38.73
Cash Conversion Cycle (CCC)	-27.54	-44.87	-38.58	-39.71	-39.10	-39.22	-43.37	-44.44	-48.19	-42.90	-38.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,982	2,087	2,173	1,888	1,877	1,810	2,048	1,941	1,789	1,765	1,886
Invested Capital Turnover	1.01	0.68	0.65	0.72	0.75	0.75	0.71	0.80	0.86	0.91	0.86
Increase / (Decrease) in Invested Capital	1,224	-101	-90	-216	-105	-277	-125	54	-89	-45	-163
Enterprise Value (EV)	2,116	2,224	2,262	2,134	1,920	2,213	3,027	2,635	2,995	3,229	3,862
Market Capitalization	1,624	1,648	1,612	1,755	1,498	1,780	2,348	2,014	2,565	2,845	3,406
Book Value per Share	$33.04	$33.40	$33.54	$33.23	$33.42	$33.19	$34.38	$33.71	$36.41	$36.88	$38.38
Tangible Book Value per Share	($7.61)	($6.78)	($6.11)	($6.06)	($7.25)	($9.25)	($9.65)	($10.83)	($9.81)	($9.16)	($7.83)
Total Capital	2,330	2,417	2,383	2,205	2,152	2,074	2,234	2,129	2,018	2,039	2,089
Total Debt	839	907	860	694	695	696	865	808	649	649	650
Total Long-Term Debt	839	907	860	694	695	696	865	808	649	649	650
Net Debt	492	577	650	379	423	433	679	620	429	385	456
Capital Expenditures (CapEx)	8.81	5.55	4.20	9.31	6.96	10	9.18	22	-3.12	10	11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-214	-251	-158	-220	-223	-285	-207	-309	-289	-299	-171
Debt-free Net Working Capital (DFNWC)	133	79	52	95	49	-23	-20	-121	-70	-34	23
Net Working Capital (NWC)	133	79	52	95	49	-23	-20	-121	-70	-34	23
Net Nonoperating Expense (NNE)	-7.65	19	14	13	11	12	8.71	11	13	9.45	4.33
Net Nonoperating Obligations (NNO)	491	577	650	377	420	431	679	620	420	375	447
Total Depreciation and Amortization (D&A)	53	57	38	35	34	30	29	29	24	21	21
Debt-free, Cash-free Net Working Capital to Revenue	-15.45%	-17.32%	-11.01%	-15.26%	-15.38%	-19.46%	-13.81%	-20.06%	-18.23%	-18.32%	-10.16%
Debt-free Net Working Capital to Revenue	9.66%	5.49%	3.59%	6.59%	3.38%	-1.55%	-1.37%	-7.89%	-4.39%	-2.11%	1.34%
Net Working Capital to Revenue	9.66%	5.49%	3.59%	6.59%	3.38%	-1.55%	-1.37%	-7.89%	-4.39%	-2.11%	1.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.13	$0.05	$0.53	$1.02	$0.51	$0.26	$1.00	$0.95	$1.26	$1.22	$2.03
Adjusted Weighted Average Basic Shares Outstanding	48.39M	45.27M	45.43M	45.13M	44.78M	41.40M	39.87M	38.71M	39.41M	37.72M	37.44M
Adjusted Diluted Earnings per Share	$0.20	$0.05	$0.52	$1.00	$0.51	$0.25	$0.98	$0.93	$1.23	$1.18	$1.98
Adjusted Weighted Average Diluted Shares Outstanding	48.39M	46.34M	46.12M	45.80M	45.60M	42.18M	40.79M	39.64M	40.31M	39.11M	38.40M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	45.20M	45.40M	45.45M	43.61M	41.54M	39.83M	39.19M	37.61M	37.69M	37.49M	37.26M
Normalized Net Operating Profit after Tax (NOPAT)	43	40	52	58	40	28	54	63	66	57	80
Normalized NOPAT Margin	12.03%	11.31%	14.39%	15.79%	11.01%	7.50%	13.83%	15.23%	16.14%	13.72%	17.97%
Pre Tax Income Margin	5.98%	1.87%	7.86%	13.26%	7.66%	4.00%	11.57%	11.64%	13.58%	13.99%	20.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.12	1.37	2.83	4.39	2.83	1.94	3.72	3.90	4.77	5.03	7.63
NOPAT to Interest Expense	-0.22	1.11	2.47	4.08	2.18	1.46	2.91	2.91	4.22	3.84	5.77
EBIT Less CapEx to Interest Expense	1.66	1.06	2.56	3.74	2.37	1.28	3.17	2.59	4.99	4.31	6.86
NOPAT Less CapEx to Interest Expense	-0.67	0.79	2.20	3.43	1.73	0.79	2.36	1.60	4.43	3.12	5.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	39.16%	32.47%	0.00%	60.00%	131.89%	206.56%	239.09%	300.07%	191.53%	118.80%	84.26%

Frequently Asked Questions About Adtalem Global Education's Financials

When does Adtalem Global Education's fiscal year end?

According to the most recent income statement we have on file, Adtalem Global Education's financial year ends in June. Their financial year 2024 ended on June 30, 2024.

How has Adtalem Global Education's net income changed over the last 9 years?

Adtalem Global Education's net income appears to be on an upward trend, with a most recent value of $136.78 million in 2024, falling from $140.70 million in 2015. The previous period was $93.36 million in 2023.

What is Adtalem Global Education's operating income?

Adtalem Global Education's total operating income in 2024 was $217.05 million, based on the following breakdown:

Total Gross Profit: $886.10 million
Total Operating Expenses: $669.05 million

How has Adtalem Global Education revenue changed over the last 9 years?

Over the last 9 years, Adtalem Global Education's total revenue changed from $1.91 billion in 2015 to $1.58 billion in 2024, a change of -17.0%.

How much debt does Adtalem Global Education have?

Adtalem Global Education's total liabilities were at $1.37 billion at the end of 2024, a 1.4% increase from 2023, and a 208.1% increase since 2015.

How much cash does Adtalem Global Education have?

In the past 9 years, Adtalem Global Education's cash and equivalents has ranged from $204.20 million in 2019 to $500.52 million in 2020, and is currently $219.31 million as of their latest financial filing in 2024.

How has Adtalem Global Education's book value per share changed over the last 9 years?

Over the last 9 years, Adtalem Global Education's book value per share changed from 24.87 in 2015 to 36.41 in 2024, a change of 46.4%.

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This page (NYSE:ATGE) was last updated on 4/20/2025 by MarketBeat.com Staff

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Adtalem Global Education (ATGE) Financials

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