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AMERICAN PUBLIC EDUCATION (APEI) Stock Fundamental Analysis

NASDAQ:APEI - Nasdaq - US02913V1035 - Common Stock - Currency: USD

24.88  +1.42 (+6.05%)

Fundamental Rating

5

Taking everything into account, APEI scores 5 out of 10 in our fundamental rating. APEI was compared to 73 industry peers in the Diversified Consumer Services industry. APEI is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. APEI has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

APEI had positive earnings in the past year.
In the past year APEI had a positive cash flow from operations.
In multiple years APEI reported negative net income over the last 5 years.
APEI had a positive operating cash flow in each of the past 5 years.
APEI Yearly Net Income VS EBIT VS OCF VS FCFAPEI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M -100M

1.2 Ratios

APEI has a better Return On Assets (1.76%) than 61.64% of its industry peers.
APEI's Return On Equity of 3.31% is fine compared to the rest of the industry. APEI outperforms 61.64% of its industry peers.
APEI has a better Return On Invested Capital (5.24%) than 68.49% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for APEI is significantly below the industry average of 11.99%.
The 3 year average ROIC (3.11%) for APEI is below the current ROIC(5.24%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.76%
ROE 3.31%
ROIC 5.24%
ROA(3y)-8.83%
ROA(5y)-3.79%
ROE(3y)-15.94%
ROE(5y)-7.48%
ROIC(3y)3.11%
ROIC(5y)3.6%
APEI Yearly ROA, ROE, ROICAPEI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20 -30

1.3 Margins

The Profit Margin of APEI (1.61%) is better than 60.27% of its industry peers.
In the last couple of years the Profit Margin of APEI has declined.
APEI has a better Operating Margin (6.21%) than 64.38% of its industry peers.
APEI's Operating Margin has declined in the last couple of years.
APEI has a better Gross Margin (52.65%) than 64.38% of its industry peers.
In the last couple of years the Gross Margin of APEI has declined.
Industry RankSector Rank
OM 6.21%
PM (TTM) 1.61%
GM 52.65%
OM growth 3Y-6.39%
OM growth 5Y-3%
PM growth 3Y-27.64%
PM growth 5Y-14.35%
GM growth 3Y-3.61%
GM growth 5Y-2.87%
APEI Yearly Profit, Operating, Gross MarginsAPEI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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7

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so APEI is destroying value.
Compared to 1 year ago, APEI has more shares outstanding
APEI has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, APEI has an improved debt to assets ratio.
APEI Yearly Shares OutstandingAPEI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M
APEI Yearly Total Debt VS Total AssetsAPEI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

An Altman-Z score of 2.55 indicates that APEI is not a great score, but indicates only limited risk for bankruptcy at the moment.
APEI's Altman-Z score of 2.55 is fine compared to the rest of the industry. APEI outperforms 68.49% of its industry peers.
The Debt to FCF ratio of APEI is 3.38, which is a good value as it means it would take APEI, 3.38 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.38, APEI is in the better half of the industry, outperforming 75.34% of the companies in the same industry.
A Debt/Equity ratio of 0.31 indicates that APEI is not too dependend on debt financing.
APEI has a Debt to Equity ratio (0.31) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.31
Debt/FCF 3.38
Altman-Z 2.55
ROIC/WACC0.57
WACC9.24%
APEI Yearly LT Debt VS Equity VS FCFAPEI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.3 Liquidity

A Current Ratio of 3.29 indicates that APEI has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 3.29, APEI belongs to the top of the industry, outperforming 84.93% of the companies in the same industry.
APEI has a Quick Ratio of 3.29. This indicates that APEI is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 3.29, APEI belongs to the top of the industry, outperforming 84.93% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.29
Quick Ratio 3.29
APEI Yearly Current Assets VS Current LiabilitesAPEI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

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5

3. Growth

3.1 Past

APEI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 128.92%, which is quite impressive.
Measured over the past years, APEI shows a decrease in Earnings Per Share. The EPS has been decreasing by -8.13% on average per year.
The Revenue has been growing slightly by 4.01% in the past year.
Measured over the past years, APEI shows a quite strong growth in Revenue. The Revenue has been growing by 16.88% on average per year.
EPS 1Y (TTM)128.92%
EPS 3Y-10.67%
EPS 5Y-8.13%
EPS Q2Q%-1.56%
Revenue 1Y (TTM)4.01%
Revenue growth 3Y14.25%
Revenue growth 5Y16.88%
Sales Q2Q%15762.78%

3.2 Future

The Earnings Per Share is expected to grow by 59.69% on average over the next years. This is a very strong growth
APEI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.25% yearly.
EPS Next Y79.44%
EPS Next 2Y59.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.25%
Revenue Next 2Y4.25%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
APEI Yearly Revenue VS EstimatesAPEI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
APEI Yearly EPS VS EstimatesAPEI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 2 -2 -4 -6

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 34.56 indicates a quite expensive valuation of APEI.
Compared to the rest of the industry, the Price/Earnings ratio of APEI is on the same level as its industry peers.
APEI's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.75.
With a Price/Forward Earnings ratio of 19.26, APEI is valued on the expensive side.
65.75% of the companies in the same industry are more expensive than APEI, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.49, APEI is valued at the same level.
Industry RankSector Rank
PE 34.56
Fwd PE 19.26
APEI Price Earnings VS Forward Price EarningsAPEI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of APEI indicates a rather cheap valuation: APEI is cheaper than 84.93% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, APEI is valued cheaper than 83.56% of the companies in the same industry.
Industry RankSector Rank
P/FCF 16.15
EV/EBITDA 6.17
APEI Per share dataAPEI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

APEI's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as APEI's earnings are expected to grow with 59.69% in the coming years.
PEG (NY)0.43
PEG (5Y)N/A
EPS Next 2Y59.69%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for APEI!.
Industry RankSector Rank
Dividend Yield N/A

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AMERICAN PUBLIC EDUCATION

NASDAQ:APEI (5/2/2025, 10:53:04 AM)

24.88

+1.42 (+6.05%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryDiversified Consumer Services
Earnings (Last)03-06 2025-03-06/amc
Earnings (Next)05-13 2025-05-13/amc
Inst Owners98.51%
Inst Owner Change-0.44%
Ins Owners4%
Ins Owner Change5.7%
Market Cap448.84M
Analysts84
Price Target25.84 (3.86%)
Short Float %4.51%
Short Ratio6.42
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.34
Dividend Growth(5Y)N/A
DP60.22%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)31.06%
Min EPS beat(2)15.09%
Max EPS beat(2)47.04%
EPS beat(4)3
Avg EPS beat(4)-117.34%
Min EPS beat(4)-688.23%
Max EPS beat(4)156.76%
EPS beat(8)6
Avg EPS beat(8)-96.59%
EPS beat(12)9
Avg EPS beat(12)198.1%
EPS beat(16)12
Avg EPS beat(16)152.78%
Revenue beat(2)0
Avg Revenue beat(2)-1.44%
Min Revenue beat(2)-2.38%
Max Revenue beat(2)-0.5%
Revenue beat(4)0
Avg Revenue beat(4)-1.55%
Min Revenue beat(4)-2.72%
Max Revenue beat(4)-0.5%
Revenue beat(8)0
Avg Revenue beat(8)-14.01%
Revenue beat(12)0
Avg Revenue beat(12)-10.11%
Revenue beat(16)1
Avg Revenue beat(16)-7.2%
PT rev (1m)15.15%
PT rev (3m)10.14%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-60%
EPS NY rev (1m)0%
EPS NY rev (3m)-9.85%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.01%
Revenue NY rev (1m)1.01%
Revenue NY rev (3m)1.01%
Valuation
Industry RankSector Rank
PE 34.56
Fwd PE 19.26
P/S 0.72
P/FCF 16.15
P/OCF 9.18
P/B 1.48
P/tB 2.08
EV/EBITDA 6.17
EPS(TTM)0.72
EY2.89%
EPS(NY)1.29
Fwd EY5.19%
FCF(TTM)1.54
FCFY6.19%
OCF(TTM)2.71
OCFY10.89%
SpS34.62
BVpS16.84
TBVpS11.98
PEG (NY)0.43
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.76%
ROE 3.31%
ROCE 7.9%
ROIC 5.24%
ROICexc 7.75%
ROICexgc 10.53%
OM 6.21%
PM (TTM) 1.61%
GM 52.65%
FCFM 4.45%
ROA(3y)-8.83%
ROA(5y)-3.79%
ROE(3y)-15.94%
ROE(5y)-7.48%
ROIC(3y)3.11%
ROIC(5y)3.6%
ROICexc(3y)4.28%
ROICexc(5y)7.29%
ROICexgc(3y)5.95%
ROICexgc(5y)12.03%
ROCE(3y)4.69%
ROCE(5y)5.43%
ROICexcg growth 3Y-9.61%
ROICexcg growth 5Y-11.95%
ROICexc growth 3Y18.82%
ROICexc growth 5Y-11.02%
OM growth 3Y-6.39%
OM growth 5Y-3%
PM growth 3Y-27.64%
PM growth 5Y-14.35%
GM growth 3Y-3.61%
GM growth 5Y-2.87%
F-Score9
Asset Turnover1.1
Health
Industry RankSector Rank
Debt/Equity 0.31
Debt/FCF 3.38
Debt/EBITDA 1.61
Cap/Depr 109.22%
Cap/Sales 3.38%
Interest Coverage 3.62
Cash Conversion 84.14%
Profit Quality 276.33%
Current Ratio 3.29
Quick Ratio 3.29
Altman-Z 2.55
F-Score9
WACC9.24%
ROIC/WACC0.57
Cap/Depr(3y)70.06%
Cap/Depr(5y)62.9%
Cap/Sales(3y)2.8%
Cap/Sales(5y)2.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)128.92%
EPS 3Y-10.67%
EPS 5Y-8.13%
EPS Q2Q%-1.56%
EPS Next Y79.44%
EPS Next 2Y59.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)4.01%
Revenue growth 3Y14.25%
Revenue growth 5Y16.88%
Sales Q2Q%15762.78%
Revenue Next Year5.25%
Revenue Next 2Y4.25%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y108.57%
EBIT growth 3Y6.95%
EBIT growth 5Y13.38%
EBIT Next Year179.47%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-12.11%
FCF growth 3Y84.29%
FCF growth 5Y-2.23%
OCF growth 1Y7.38%
OCF growth 3Y44.29%
OCF growth 5Y4.96%