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AMERICAN PUBLIC EDUCATION (APEI) Stock Fundamental Analysis

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

29.03  -2.5 (-7.93%)

After market: 29.29 +0.26 (+0.9%)

Fundamental Rating

5

APEI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 72 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 is not valued too expensively and it also shows a decent 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

The Return On Assets of APEI (3.20%) is better than 62.50% of its industry peers.
The Return On Equity of APEI (5.98%) is comparable to the rest of the industry.
The Return On Invested Capital of APEI (5.98%) is better than 70.83% 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 10.36%.
The 3 year average ROIC (3.11%) for APEI is below the current ROIC(5.98%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.2%
ROE 5.98%
ROIC 5.98%
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 (2.92%) is comparable to the rest of the industry.
APEI's Profit Margin has declined in the last couple of years.
APEI has a Operating Margin of 7.03%. This is in the better half of the industry: APEI outperforms 62.50% of its industry peers.
APEI's Operating Margin has declined in the last couple of years.
APEI has a Gross Margin of 53.01%. This is in the better half of the industry: APEI outperforms 62.50% of its industry peers.
APEI's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 7.03%
PM (TTM) 2.92%
GM 53.01%
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

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), APEI is destroying value.
APEI has more shares outstanding than it did 1 year ago.
The number of shares outstanding for APEI has been increased compared to 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 2.93 indicates that APEI is not a great score, but indicates only limited risk for bankruptcy at the moment.
APEI has a better Altman-Z score (2.93) than 68.06% of its industry peers.
The Debt to FCF ratio of APEI is 2.03, which is a good value as it means it would take APEI, 2.03 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 2.03, APEI is in the better half of the industry, outperforming 79.17% of the companies in the same industry.
A Debt/Equity ratio of 0.30 indicates that APEI is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.30, APEI is in line with its industry, outperforming 48.61% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.3
Debt/FCF 2.03
Altman-Z 2.93
ROIC/WACC0.69
WACC8.66%
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 3.27 indicates that APEI has no problem at all paying its short term obligations.
With an excellent Current ratio value of 3.27, APEI belongs to the best of the industry, outperforming 84.72% of the companies in the same industry.
A Quick Ratio of 3.27 indicates that APEI has no problem at all paying its short term obligations.
With an excellent Quick ratio value of 3.27, APEI belongs to the best of the industry, outperforming 84.72% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.27
Quick Ratio 3.27
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

The Earnings Per Share has grown by an impressive 20.45% over the past year.
APEI shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -8.13% yearly.
The Revenue has been growing slightly by 4.00% in the past year.
APEI shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.88% yearly.
EPS 1Y (TTM)20.45%
EPS 3Y-10.67%
EPS 5Y-8.13%
EPS Q2Q%66.67%
Revenue 1Y (TTM)4%
Revenue growth 3Y14.25%
Revenue growth 5Y16.88%
Sales Q2Q%6.46%

3.2 Future

APEI is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 71.31% yearly.
The Revenue is expected to grow by 4.83% on average over the next years.
EPS Next Y93.14%
EPS Next 2Y71.31%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.56%
Revenue Next 2Y4.83%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 27.39, which means the current valuation is very expensive for APEI.
APEI's Price/Earnings ratio is in line with the industry average.
APEI's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.54.
With a Price/Forward Earnings ratio of 13.74, APEI is valued correctly.
73.61% of the companies in the same industry are more expensive than APEI, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 35.28. APEI is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 27.39
Fwd PE 13.74
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

80.56% of the companies in the same industry are more expensive than APEI, based on the Enterprise Value to EBITDA ratio.
APEI's Price/Free Cash Flow ratio is rather cheap when compared to the industry. APEI is cheaper than 87.50% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.3
EV/EBITDA 7.15
APEI Per share dataAPEI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The 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 71.31% in the coming years.
PEG (NY)0.29
PEG (5Y)N/A
EPS Next 2Y71.31%
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 (8/7/2025, 8:10:50 PM)

After market: 29.29 +0.26 (+0.9%)

29.03

-2.5 (-7.93%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryDiversified Consumer Services
Earnings (Last)08-06 2025-08-06/amc
Earnings (Next)11-10 2025-11-10/amc
Inst Owners93.53%
Inst Owner Change0.34%
Ins Owners3.98%
Ins Owner Change-18.6%
Market Cap523.70M
Analysts83.08
Price Target35.53 (22.39%)
Short Float %6.92%
Short Ratio3.75
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.34
Dividend Growth(5Y)N/A
DP32.11%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)93.8%
Min EPS beat(2)15.09%
Max EPS beat(2)172.52%
EPS beat(4)3
Avg EPS beat(4)-113.4%
Min EPS beat(4)-688.23%
Max EPS beat(4)172.52%
EPS beat(8)6
Avg EPS beat(8)-77.33%
EPS beat(12)9
Avg EPS beat(12)208.61%
EPS beat(16)12
Avg EPS beat(16)162.57%
Revenue beat(2)0
Avg Revenue beat(2)-0.38%
Min Revenue beat(2)-0.5%
Max Revenue beat(2)-0.25%
Revenue beat(4)0
Avg Revenue beat(4)-1.46%
Min Revenue beat(4)-2.72%
Max Revenue beat(4)-0.25%
Revenue beat(8)0
Avg Revenue beat(8)-13.5%
Revenue beat(12)0
Avg Revenue beat(12)-9.84%
Revenue beat(16)1
Avg Revenue beat(16)-7.13%
PT rev (1m)3.66%
PT rev (3m)34.21%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-190.91%
EPS NY rev (1m)0.43%
EPS NY rev (3m)7.63%
Revenue NQ rev (1m)0.11%
Revenue NQ rev (3m)0.23%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)0.29%
Valuation
Industry RankSector Rank
PE 27.39
Fwd PE 13.74
P/S 0.83
P/FCF 11.3
P/OCF 8.04
P/B 1.69
P/tB 2.36
EV/EBITDA 7.15
EPS(TTM)1.06
EY3.65%
EPS(NY)2.11
Fwd EY7.28%
FCF(TTM)2.57
FCFY8.85%
OCF(TTM)3.61
OCFY12.44%
SpS35.18
BVpS17.18
TBVpS12.32
PEG (NY)0.29
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.2%
ROE 5.98%
ROCE 9.01%
ROIC 5.98%
ROICexc 10.51%
ROICexgc 15.26%
OM 7.03%
PM (TTM) 2.92%
GM 53.01%
FCFM 7.3%
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 0.3
Debt/FCF 2.03
Debt/EBITDA 1.5
Cap/Depr 103.3%
Cap/Sales 2.96%
Interest Coverage 4.29
Cash Conversion 103.69%
Profit Quality 250.09%
Current Ratio 3.27
Quick Ratio 3.27
Altman-Z 2.93
F-Score9
WACC8.66%
ROIC/WACC0.69
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)20.45%
EPS 3Y-10.67%
EPS 5Y-8.13%
EPS Q2Q%66.67%
EPS Next Y93.14%
EPS Next 2Y71.31%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)4%
Revenue growth 3Y14.25%
Revenue growth 5Y16.88%
Sales Q2Q%6.46%
Revenue Next Year5.56%
Revenue Next 2Y4.83%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y38.89%
EBIT growth 3Y6.95%
EBIT growth 5Y13.38%
EBIT Next Year186.02%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y51411.1%
FCF growth 3Y84.29%
FCF growth 5Y-2.23%
OCF growth 1Y289.51%
OCF growth 3Y44.29%
OCF growth 5Y4.96%