NASDAQ : PRDO
Perdoceo Education Corporation — Financial statements
Consumer Staples · Education & Training Services · United States
Last price 29.81 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.87B
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Financial statements
Perdoceo Education Corporation (PRDO) reported revenue of 858.61M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 853.93M | 841.40M | 676.07M | 702.92M | 687.67M | 688.41M |
| Other Revenue | 4.68M | 4.69M | 5.19M | 7.08M | 7.54M | 4.62M |
| Revenue | 858.61M | 846.10M | 681.26M | 710.00M | 695.21M | 693.03M |
| Cost of Revenue | 172.66M | 173.01M | 112.22M | 120.02M | 99.41M | 91.43M |
| Gross Profit | 685.95M | 673.08M | 569.05M | 589.98M | 595.80M | 601.61M |
| Selling, General & Admin | 436.70M | 435.45M | 375.70M | 408.38M | 443.43M | 435.83M |
| Operating Expenses | 475.07M | 477.07M | 390.34M | 425.27M | 463.17M | 452.59M |
| Operating Income | 210.88M | 196.01M | 178.71M | 164.71M | 132.63M | 149.02M |
| Interest Expense | -6.19M | -6.46M | -613.00K | -404.00K | -400.00K | -920.00K |
| Interest & Investment Income | 26.63M | 26.31M | 28.99M | 19.98M | 6.87M | 930.00K |
| Earnings From Equity Investments | -600.00K | 200.00K | ||||
| Other Non Operating Income (Expenses) | 113.00K | -9.00K | -1.19M | 13.00K | -34.00K | -159.00K |
| EBT Excluding Unusual Items | 231.44M | 215.84M | 205.89M | 184.30M | 138.46M | 149.07M |
| Gain (Loss) on Sale of Investments | 1.00M | 1.00M | -1.20M | |||
| Gain (Loss) on Sale of Assets | 22.09M | |||||
| Asset Writedown | -6.00K | -6.00K | -4.45M | -14.26M | -2.99M | |
| Pretax Income | 232.43M | 216.84M | 201.44M | 192.12M | 134.27M | 149.07M |
| Income Tax Expense | 55.31M | 56.92M | 53.85M | 44.47M | 38.40M | 39.43M |
| Earnings From Continuing Operations | 177.12M | 159.91M | 147.59M | 147.65M | 95.87M | 109.64M |
| Net Income | 177.12M | 159.91M | 147.59M | 147.65M | 95.87M | 109.64M |
| Net Income to Common | 177.12M | 159.91M | 147.59M | 147.65M | 95.87M | 109.64M |
| Shares Outstanding (Basic) | 63.34M | 64.81M | 65.65M | 66.47M | 67.93M | 70.02M |
| Shares Outstanding (Diluted) | 64.55M | 66.16M | 67.24M | 67.83M | 69.03M | 70.88M |
| EPS (Basic) | 2.80 | 2.47 | 2.25 | 2.22 | 1.41 | 1.57 |
| EPS (Diluted) | 2.74 | 2.42 | 2.19 | 2.18 | 1.39 | 1.55 |
| Free Cash Flow | 217.98M | 216.66M | 156.97M | 105.61M | 135.57M | 180.66M |
| Free Cash Flow Per Share | 3.38 | 3.27 | 2.33 | 1.56 | 1.96 | 2.55 |
| Dividend Per Share | 0.62 | 0.58 | 0.50 | 0.33 | ||
| Gross Margin | 79.89% | 79.55% | 83.53% | 83.09% | 85.70% | 86.81% |
| Operating Margin | 24.56% | 23.17% | 26.23% | 23.20% | 19.08% | 21.50% |
| Profit Margin | 20.63% | 18.90% | 21.66% | 20.80% | 13.79% | 15.82% |
| Free Cash Flow Margin | 25.39% | 25.61% | 23.04% | 14.88% | 19.50% | 26.07% |
| EBITDA | 249.25M | 237.63M | 193.35M | 181.60M | 152.37M | 165.78M |
| EBITDA Margin | 29.03% | 28.09% | 28.38% | 25.58% | 21.92% | 23.92% |
| D&A For EBITDA | 38.36M | 41.63M | 14.64M | 16.89M | 19.73M | 16.77M |
| EBIT | 210.88M | 196.01M | 178.71M | 164.71M | 132.63M | 149.02M |
| EBIT Margin | 24.56% | 23.17% | 26.23% | 23.20% | 19.08% | 21.50% |
| Effective Tax Rate | 23.80% | 26.25% | 26.73% | 23.15% | 28.60% | 26.45% |
| Revenue as Reported | 858.61M | 846.10M | 681.26M | 710.00M | 695.21M | 693.03M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 162.89M | 110.97M | 109.13M | 118.01M | 109.41M | 319.98M |
| Short-Term Investments | 571.12M | 511.21M | 459.80M | 485.13M | 399.31M | 174.21M |
| Cash & Short-Term Investments | 734.00M | 622.18M | 568.92M | 603.14M | 508.72M | 494.19M |
| Accounts Receivable | 40.03M | 27.20M | 22.81M | 29.40M | 42.55M | 43.03M |
| Other Receivables | 6.51M | 5.04M | 5.33M | 4.54M | 3.46M | 1.69M |
| Receivables | 46.55M | 32.23M | 28.14M | 33.94M | 46.01M | 44.73M |
| Inventory | 2.59M | 4.05M | 3.39M | 5.00M | 1.90M | 904.00K |
| Prepaid Expenses | 18.45M | 16.88M | 16.91M | 11.71M | 8.41M | 6.92M |
| Restricted Cash | 820.00K | 21.31M | 22.62M | 1.01M | 9.48M | 5.20M |
| Other Current Assets | 224.00K | 208.00K | 171.00K | 155.00K | 597.00K | 2.51M |
| Total Current Assets | 802.63M | 696.86M | 640.15M | 654.96M | 575.12M | 554.45M |
| Property, Plant & Equipment | 126.08M | 136.86M | 160.98M | 40.47M | 52.19M | 65.02M |
| Goodwill | 265.70M | 265.70M | 258.01M | 241.16M | 243.54M | 162.58M |
| Other Intangible Assets | 69.59M | 77.94M | 95.01M | 36.22M | 53.56M | 32.21M |
| Long-Term Accounts Receivable | 5.01M | 4.81M | 6.20M | 3.86M | 1.85M | 1.37M |
| Long-Term Deferred Tax Assets | 57.44M | 57.44M | 68.77M | 23.80M | 24.61M | 25.11M |
| Other Long-Term Assets | 8.04M | 8.10M | 7.91M | 6.84M | 6.49M | 6.69M |
| Total Assets | 1.33B | 1.25B | 1.24B | 1.01B | 957.37M | 847.43M |
| Accounts Payable | 17.31M | 14.27M | 12.80M | 10.77M | 13.52M | 10.84M |
| Accrued Expenses | 55.62M | 68.58M | 64.43M | 53.38M | 63.90M | 49.18M |
| Current Portion of Leases | 14.22M | 11.49M | 13.26M | 5.70M | 6.55M | 9.40M |
| Current Income Taxes Payable | 3.56M | 5.63M | 4.93M | 3.97M | 7.81M | 211.00K |
| Current Unearned Revenue | 80.35M | 37.84M | 36.74M | 37.22M | 71.59M | 70.61M |
| Total Current Liabilities | 171.07M | 137.81M | 132.16M | 111.04M | 163.38M | 140.24M |
| Long-Term Debt | 56.50M | |||||
| Long-Term Leases | 99.55M | 106.84M | 61.78M | 21.35M | 27.29M | 35.55M |
| Other Long-Term Liabilities | 30.46M | 30.66M | 27.06M | 33.51M | 40.86M | 21.53M |
| Total Liabilities | 301.08M | 275.31M | 277.50M | 165.90M | 231.52M | 197.32M |
| Common Stock | 929.00K | 921.00K | 910.00K | 903.00K | 894.00K | 887.00K |
| Additional Paid-In Capital | 727.47M | 720.57M | 707.21M | 694.80M | 684.18M | 674.24M |
| Retained Earnings | 801.04M | 718.37M | 595.67M | 480.61M | 347.84M | 251.97M |
| Treasury Stock | -493.74M | -468.52M | -344.42M | -334.22M | -301.62M | -276.89M |
| Comprehensive Income & Other | -2.28M | 1.07M | 166.00K | -666.00K | -5.45M | -96.00K |
| Shareholders' Equity | 1.03B | 972.41M | 959.54M | 841.42M | 725.85M | 650.11M |
| Total Liabilities & Equity | 1.33B | 1.25B | 1.24B | 1.01B | 957.37M | 847.43M |
| Total Debt | 113.77M | 118.33M | 131.54M | 27.05M | 33.84M | 44.95M |
| Net Cash (Debt) | 620.23M | 503.85M | 437.39M | 576.10M | 474.88M | 449.25M |
| Net Cash Per Share | 9.61 | 7.62 | 6.50 | 8.49 | 6.88 | 6.34 |
| Filing Date Shares Outstanding | 62.58M | 62.48M | 65.91M | 65.65M | 67.18M | 68.75M |
| Total Common Shares Outstanding | 62.58M | 62.48M | 65.72M | 65.54M | 67.18M | 68.75M |
| Working Capital | 631.56M | 559.06M | 507.99M | 543.92M | 411.74M | 414.21M |
| Book Value Per Share | 16.51 | 15.56 | 14.60 | 12.84 | 10.81 | 9.46 |
| Tangible Book Value | 698.12M | 628.77M | 606.52M | 564.04M | 428.74M | 455.32M |
| Tangible Book Value Per Share | 11.16 | 10.06 | 9.23 | 8.61 | 6.38 | 6.62 |
| Buildings | 52.45M | 9.16M | 9.16M | 9.16M | 9.16M | |
| Machinery | 76.97M | 69.85M | 52.71M | 47.12M | 69.11M | |
| Construction In Progress | 1.42M | 46.73M | 1.81M | 4.15M | 3.19M | |
| Leasehold Improvements | 39.37M | 37.24M | 16.45M | 19.82M | 60.52M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 177.12M | 159.91M | 147.59M | 147.65M | 95.87M | 109.64M |
| Depreciation & Amortization | 38.36M | 41.63M | 14.64M | 16.89M | 19.73M | 16.77M |
| Loss (Gain) From Sale of Assets | -22.09M | |||||
| Asset Writedown & Restructuring Costs | 6.00K | 6.00K | 4.45M | 14.26M | 2.99M | |
| Stock-Based Compensation | 12.44M | 11.73M | 10.19M | 8.08M | 8.75M | 14.97M |
| Provision & Write-off of Bad Debts | 27.05M | 29.49M | 33.72M | 33.22M | 41.57M | 44.34M |
| Other Operating Activities | 3.83M | 3.83M | 2.66M | 3.76M | -720.00K | 15.33M |
| Change in Accounts Receivable | -4.90M | -4.90M | -4.00K | 15.93M | 6.38M | 6.63M |
| Change in Inventory | 2.51M | 2.51M | 4.47M | -2.99M | 2.64M | 3.29M |
| Change in Accounts Payable | 1.47M | 1.47M | -727.00K | -4.88M | 1.92M | -2.74M |
| Change in Unearned Revenue | 1.10M | 1.10M | -10.61M | -34.38M | -11.77M | 30.72M |
| Change in Other Net Operating Assets | -33.64M | -21.54M | -44.79M | -63.43M | -19.19M | -47.83M |
| Operating Cash Flow | 225.35M | 225.24M | 161.59M | 112.03M | 148.19M | 191.12M |
| Capital Expenditures | -7.37M | -8.58M | -4.62M | -6.41M | -12.62M | -10.45M |
| Cash Acquisitions | 854.00K | -137.77M | -6.00M | -84.31M | -57.14M | |
| Investment in Securities | -104.76M | -45.92M | 34.61M | -76.09M | -229.82M | 121.92M |
| Investing Cash Flow | -112.14M | -53.64M | -107.78M | -88.51M | -326.75M | 54.32M |
| Long-Term Debt Repaid | -5.47M | -1.13M | ||||
| Total Debt Repaid | -5.21M | -5.47M | -1.13M | |||
| Net Debt Issued (Repaid) | -5.21M | -5.47M | -1.13M | |||
| Issuance of Common Stock | 1.10M | 1.64M | 2.23M | 2.54M | 1.20M | 861.00K |
| Repurchase of Common Stock | -99.94M | -128.34M | -10.21M | -10.51M | -24.73M | -30.81M |
| Common Dividends Paid | -38.84M | -36.85M | -31.70M | -14.42M | ||
| Other Financing Activities | -300.00K | -2.06M | -276.00K | -1.00M | -4.20M | |
| Financing Cash Flow | -143.18M | -171.07M | -41.08M | -23.38M | -27.73M | -29.95M |
| Net Cash Flow | -29.97M | 527.00K | 12.73M | 137.00K | -206.29M | 215.49M |
| Free Cash Flow | 217.98M | 216.66M | 156.97M | 105.61M | 135.57M | 180.66M |
| Free Cash Flow Margin | 25.39% | 25.61% | 23.04% | 14.88% | 19.50% | 26.07% |
| Free Cash Flow Per Share | 3.38 | 3.27 | 2.33 | 1.56 | 1.96 | 2.55 |
| Levered Free Cash Flow | 184.66M | 167.20M | 125.67M | 84.33M | 118.35M | 151.11M |
| Unlevered Free Cash Flow | 188.52M | 171.24M | 126.06M | 84.59M | 118.60M | 151.68M |
| Cash Income Tax Paid | 49.35M | 49.35M | 46.84M | 41.75M | 28.94M | 23.22M |
| Change in Working Capital | -33.45M | -21.36M | -51.66M | -89.75M | -20.01M | -9.93M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.86B | 1.89B | 1.74B | 1.15B | 933.67M | 824.44M |
| Enterprise Value | 1.24B | 1.36B | 1.04B | 586.85M | 447.03M | 396.42M |
| Last Close Price | 29.81 | 28.91 | 25.60 | 16.62 | 12.99 | 10.99 |
| PE Ratio | 10.82 | 11.80 | 11.79 | 7.81 | 9.74 | 7.52 |
| Forward PE | 9.23 | 10.77 | 11.32 | 8.40 | 9.50 | 6.94 |
| PS Ratio | 2.16 | 2.23 | 2.55 | 1.62 | 1.34 | 1.19 |
| PB Ratio | 1.81 | 1.94 | 1.81 | 1.37 | 1.29 | 1.27 |
| P/TBV Ratio | 2.66 | 3.00 | 2.87 | 2.04 | 2.18 | 1.81 |
| P/FCF Ratio | 8.51 | 8.71 | 11.08 | 10.92 | 6.89 | 4.56 |
| P/OCF Ratio | 8.24 | 8.38 | 10.77 | 10.30 | 6.30 | 4.31 |
| PEG Ratio | 0.62 | 0.72 | 0.76 | 0.56 | 0.64 | 0.46 |
| EV/Sales Ratio | 1.44 | 1.61 | 1.53 | 0.83 | 0.64 | 0.57 |
| EV/EBITDA Ratio | 4.96 | 5.73 | 5.38 | 3.23 | 2.93 | 2.39 |
| EV/EBIT Ratio | 5.86 | 6.94 | 5.82 | 3.56 | 3.37 | 2.66 |
| EV/FCF Ratio | 5.67 | 6.28 | 6.62 | 5.56 | 3.30 | 2.19 |
| Debt / Equity Ratio | 0.11 | 0.12 | 0.14 | 0.03 | 0.05 | 0.07 |
| Debt / EBITDA Ratio | 0.42 | 0.45 | 0.65 | 0.14 | 0.20 | 0.25 |
| Debt / FCF Ratio | 0.52 | 0.55 | 0.84 | 0.26 | 0.25 | 0.25 |
| Net Debt / Equity Ratio | -0.60 | -0.52 | -0.46 | -0.69 | -0.65 | -0.69 |
| Net Debt / EBITDA Ratio | -2.49 | -2.12 | -2.26 | -3.17 | -3.12 | -2.71 |
| Net Debt / FCF Ratio | -2.85 | -2.33 | -2.79 | -5.46 | -3.50 | -2.49 |
| Asset Turnover | 0.65 | 0.68 | 0.61 | 0.72 | 0.77 | 0.88 |
| Inventory Turnover | 66.14 | 46.53 | 26.74 | 34.75 | 70.81 | 121.90 |
| Quick Ratio | 4.56 | 4.75 | 4.52 | 5.74 | 3.40 | 3.84 |
| Current Ratio | 4.69 | 5.06 | 4.84 | 5.90 | 3.52 | 3.95 |
| Return on Equity (ROE) | 17.55% | 16.55% | 16.39% | 18.84% | 13.94% | 18.18% |
| Return on Assets (ROA) | 10.03% | 9.86% | 9.95% | 10.48% | 9.19% | 11.87% |
| Return on Invested Capital (ROIC) | 37.76% | 29.18% | 33.25% | 49.04% | 41.92% | 54.31% |
| Return on Capital Employed (ROCE) | 18.10% | 17.70% | 16.20% | 18.40% | 16.70% | 21.10% |
| Earnings Yield | 9.24% | 8.48% | 8.48% | 12.80% | 10.27% | 13.30% |
| FCF Yield | 11.74% | 11.48% | 9.02% | 9.16% | 14.52% | 21.91% |
| Dividend Yield | 2.29% | 1.92% | 1.89% | 1.88% | ||
| Payout Ratio | 24.80% | 23.05% | 21.48% | 9.76% | ||
| Buyback Yield / Dilution | 3.84% | 1.62% | 0.86% | 1.75% | 2.61% | 0.54% |
| Total Shareholder Return | 6.13% | 3.54% | 2.75% | 3.62% | 2.61% | 0.54% |