American Public Education, Inc.

American Public Education, Inc. (APEI) reported revenue of $648.9 million for fiscal year 2025, generating net income of $31.6 million. The company achieved operating income of $47.9 million before interest and taxes, with a net income margin of approximately 4.9%. Key financial drivers included strong operating cash flow of $62.0 million, which supported capital expenditures of $15.9 million and resulted in free cash flow of $46.1 million. The balance sheet shows total assets of $521.4 million, with cash and equivalents of $176.5 million and total liabilities of $226.6 million. Stockholders' equity stood at $294.8 million. The company's performance reflects its focus on online and campus-based postsecondary education, serving approximately 108,600 students through its three subsidiary institutions.

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