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Stride

LRN NYSE Education Services Financials FY2017–FY2026

Stride's revenue rose 4.7% to $2.5 billion in fiscal 2026. Its operating margin was 17.9%, up from 15.0% a year earlier. Free cash flow was $433 million, up 0.5%. It paid out $189 million in dividends and buybacks, 44% of free cash flow. The diluted share count fell 2.2%.

Last close · Oct 23, 2026

$79.40

1.6%
Value it Compare
Revenue Total sales reported in the income statement.
$2.5B
4.7% vs prior year
Operating margin Operating income as a share of revenue.
17.9%
2.9 pts
Net income Profit after all expenses, interest and tax.
$338M
17.5%
Free cash flow Cash from operations minus capital spending.
$433M
0.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
31.3%
3.4 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$3.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
11.0x
On $7.25 EPS (TTM)

What Stride does

No business description yet.

Legal name
Stride, Inc.
Fiscal year ends
June 30, 2026
Latest annual report
—
Accession · CIK
0001104659-26-090515
0001157408

Revenue and margins

Stride had $2.5B of revenue in fiscal 2026, up 4.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 107.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $433M in fiscal 2026, 17.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Stride returned $189M to shareholders in fiscal 2026, 44% of free cash flow. The diluted share count fell 2.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Stride yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $423M and divides by 47.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 11.0x · peers 18.0x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Stride can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $389M$523M$692M$985M$958M
Debt incl. finance leases $478M$470M$470M$503M$535M
Net debt / EBITDA 0.4x−0.2x−0.6x−1.0x−0.7x
Debt / equity 0.6x0.5x0.4x0.3x0.3x
Interest coverage 23.6x23.8x33.2x39.4x43.2x
Current ratio 3.2x3.5x5.1x5.4x5.9x
Quick ratio 3.0x3.3x5.0x5.3x5.8x
Total assets $1.6B$1.8B$1.9B$2.3B$2.4B
Total liabilities $831M$813M$744M$814M$803M
Shareholders' equity $813M$947M$1.2B$1.5B$1.6B
Net debt (− = net cash) $88.3M−$52.8M−$222M−$482M−$423M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✓ ✓ ✕
F-score 8 / 98 / 96 / 9
Accruals ratio −4.1%−6.9%−4.0%
Altman Z'' 6.907.978.81

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Stride LRN $3.6B 4.7% 17.9% 17.2% 31.3% 11.0x 6
Covista CVSA $4.7B 9.3% 19.6% 20.1% 17.0% 18.7x 8 Compare →
Laureate Education LAUR $5.5B 8.6% 25.3% 15.5% 28.6% 17.7x 8 Compare →
Graham GHC $5.3B 2.5% 4.8% 5.6% 3.1% 18.3x 5 Compare →
Strategic Education STRA $1.8B 4.0% 13.7% 12.1% 8.4% 13.7x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $889M $918M $1.0B $1.0B $1.5B $1.7B $1.8B $2.0B $2.4B $2.5B
Gross profit $331M $325M $352M $348M $535M $597M $647M $764M $944M $951M
Research and development $12.5M $9.2M $9.5M $9.7M $3.7M $7.5M $15.5M $16.7M $16.6M $22.0M
Operating income $13.1M $25.5M $45.5M $32.5M $111M $157M $166M $250M $360M $451M
Interest expense $0.8M $0.8M $1.1M $1.3M $4.5M $6.6M $6.9M $7.5M $9.1M $10.4M
Pretax income $4.9M $26.5M $48.4M $33.4M $96.0M $147M $172M $269M $381M $441M
Income tax $5.4M −$0.9M $10.5M $8.5M $24.5M $40.1M $45.3M $64.5M $93.0M $103M
Net income $0.5M $27.6M $37.2M $24.5M $71.5M $107M $127M $204M $288M $338M
Diluted EPS $0.01 $0.68 $0.91 $0.60 $1.71 $2.52 $2.97 $4.69 $5.95 $7.14
Diluted shares 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.05B 0.05B
Cash flow
Cash from operations $88.7M $105M $142M $80.4M $134M $207M $203M $279M $433M $434M
Capital expenditure $2.2M $8.7M $5.5M $1.7M $3.6M $9.7M $4.3M $2.3M $1.8M $0.6M
Free cash flow $86.6M $96.7M $136M $78.7M $131M $197M $199M $277M $431M $433M
Depreciation and amortization $74.3M $75.3M $71.4M $72.1M $90.1M $97.9M $110M $110M $115M $127M
Stock-based compensation $22.6M $20.8M $16.7M $23.6M $39.3M $18.6M $20.3M $31.5M $36.8M $40.3M
Acquisitions $9.1M $7.3M $13.1M $168M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $27.5M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $189M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $27.5M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $189M
Balance sheet
Cash and short-term investments $231M $231M $283M $212M $386M $389M $523M $692M $985M $958M
Total debt — — — — $299M $411M $413M $415M $416M $418M
Finance lease liabilities $0.0M $0.0M $24.6M $17.9M $68.9M $66.3M $56.9M $55.6M $86.9M $117M
Current assets $474M $454M $530M $501M $858M $951M $1.1B $1.2B $1.6B $1.7B
Current liabilities $118M $116M $156M $273M $306M $302M $309M $244M $303M $289M
Inventory $30.5M $25.9M $29.9M $28.3M $39.7M $36.0M $36.7M $36.7M $37.6M $38.2M
Property and equipment, net $26.3M $28.9M $32.0M $38.7M $72.1M $61.5M $52.3M $50.9M $78.6M $102M
Total assets $735M $742M $820M $1.1B $1.6B $1.6B $1.8B $1.9B $2.3B $2.4B
Total liabilities $160M $155M $186M $398M $773M $831M $813M $744M $814M $803M
Shareholders' equity $574M $587M $633M $675M $805M $813M $947M $1.2B $1.5B $1.6B
Margins
Gross margin 37.3% 35.4% 34.7% 33.4% 34.8% 35.4% 35.2% 37.4% 39.2% 37.8%
Operating margin 1.5% 2.8% 4.5% 3.1% 7.2% 9.3% 9.0% 12.2% 15.0% 17.9%
EBITDA margin 9.8% 11.0% 11.5% 10.1% 13.1% 15.1% 15.0% 17.6% 19.7% 22.9%
Net margin 0.1% 3.0% 3.7% 2.4% 4.7% 6.4% 6.9% 10.0% 12.0% 13.4%
FCF margin 9.7% 10.5% 13.4% 7.6% 8.5% 11.7% 10.8% 13.6% 17.9% 17.2%
Returns
Return on capital — — — — — 13.5% 13.6% 20.5% 27.9% 31.3%
Return on capital employed 2.1% 4.1% 7.1% 4.4% 10.7% 12.0% 11.9% 16.0% 19.6% 21.8%
Return on equity 0.1% 4.8% 6.1% 3.8% 9.7% 13.3% 14.4% 19.2% 21.7% 21.7%
Return on assets 0.1% 3.7% 4.8% 2.6% 5.4% 6.7% 7.5% 11.1% 13.7% 14.3%
Growth
Revenue growth 1.8% 3.3% 10.7% 2.5% 47.7% 9.8% 8.9% 11.0% 17.9% 4.7%
Net income growth −95.0% 6,024.2% 34.7% −34.1% 191.6% 49.9% 18.4% 60.9% 41.0% 17.5%
EPS growth −95.7% 6,700.0% 33.8% −34.1% 185.0% 47.4% 17.9% 57.9% 26.9% 20.0%
FCF growth −25.9% 11.7% 40.8% −42.2% 65.8% 51.0% 0.9% 39.1% 55.9% 0.5%
Share count change 1.7% 2.9% 0.8% −0.7% 3.0% 1.4% 0.7% 1.9% 11.2% −2.2%
Financial health
Net debt / EBITDA — — — — −0.1x 0.4x −0.2x −0.6x −1.0x −0.7x
Debt / equity — — — — 0.5x 0.6x 0.5x 0.4x 0.3x 0.3x
Interest coverage 17.5x 32.8x 41.1x 25.2x 24.5x 23.6x 23.8x 33.2x 39.4x 43.2x
Current ratio 4.0x 3.9x 3.4x 1.8x 2.8x 3.2x 3.5x 5.1x 5.4x 5.9x
Quick ratio 3.8x 3.7x 3.2x 1.7x 2.7x 3.0x 3.3x 5.0x 5.3x 5.8x
Capital allocation
Capex / revenue 0.2% 1.0% 0.5% 0.2% 0.2% 0.6% 0.2% 0.1% 0.1% 0.0%
Stock comp / revenue 2.5% 2.3% 1.6% 2.3% 2.6% 1.1% 1.1% 1.5% 1.5% 1.6%
Payouts / FCF 0.0% 28.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 43.6%
Quality scores
Piotroski F-score — — — — — 6.0 7.0 8.0 8.0 6.0
Altman Z'' 6.9 7.1 7.0 3.5 4.1 4.7 5.3 6.9 8.0 8.8
Accruals ratio −12.0% −10.5% −13.4% −5.9% −4.7% −6.2% −4.5% −4.1% −6.9% −4.0%

Source: SEC EDGAR XBRL filings (CIK 0001157408). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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