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Perdoceo Education

PRDO Nasdaq Education Services Financials FY2016–FY2025

Perdoceo Education's revenue rose 24.2% to $846 million in fiscal 2025. Its operating margin was 23.2%, down from 25.6% a year earlier. Free cash flow was $217 million, up 38.0%. It paid out $121 million in dividends and buybacks, 56% of free cash flow. The diluted share count fell 1.6%.

Last close · Oct 23, 2026

$33.90

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$846M
24.2% vs prior year
Operating margin Operating income as a share of revenue.
23.2%
2.4 pts
Net income Profit after all expenses, interest and tax.
$160M
8.3%
Free cash flow Cash from operations minus capital spending.
$217M
38.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$2.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
12.3x
On $2.75 EPS (TTM)

What Perdoceo Education does

No business description yet.

Legal name
PERDOCEO EDUCATION CORP
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-059331
0001046568

Revenue and margins

Perdoceo Education had $846M of revenue in fiscal 2025, up 24.2% 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

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 $217M in fiscal 2025, 25.6% 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

Perdoceo Education returned $121M to shareholders in fiscal 2025, 56% of free cash flow. The diluted share count fell 1.6%.

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

Value Perdoceo Education 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 — and divides by 66.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 12.3x · peers 19.8x · sector 17.9x.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $494M$509M$603M$569M$622M
Interest coverage 162.0x324.1x372.4x284.3x30.3x
Current ratio 4.0x3.5x5.9x4.8x5.1x
Quick ratio 4.0x3.5x5.9x4.8x5.0x
Total assets $847M$957M$1.0B$1.2B$1.2B
Total liabilities $197M$232M$166M$278M$275M
Shareholders' equity $650M$726M$841M$960M$972M
Net debt (− = net cash) —————

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

$9.0M

8 insiders

Of sales under plans

81%

$7.3M

DateInsiderTradeSharesPriceValueFiling
Sep 15, 2026 Todd S NelsonPresident and CEO, Director Sold plan 46,199 $32.89 $1.5M Form 4
Aug 11, 2026 Gregory L. JacksonDirector Sold 11,271 $31.78 $0.4M Form 4
Jun 4, 2026 Kenda B GonzalesDirector Sold 9,308 $34.79 $0.3M Form 4
May 13, 2026 Michele A PeppersPrincipal Accounting Officer Sold 14,000 $34.50 $0.5M Form 4
May 12, 2026 Julia A. LeemanSVP - Campus Operations Sold 11,315 $35.51 $0.4M Form 4
May 12, 2026 Patrick W GrossDirector Sold 3,647 $34.98 $0.1M Form 4
Apr 6, 2026 Greg E. JansenSVP, General Counsel Sold plan 30,158 $38.00 $1.1M Form 4
Mar 25, 2026 Ashish R GhiaCFO Sold plan 11,089 $37.00 $0.4M Form 4
Mar 25, 2026 Todd S NelsonPresident and CEO, Director Sold plan 4,387 $36.65 $0.2M Form 4
Mar 24, 2026 Todd S NelsonPresident and CEO, Director Sold plan 40,000 $36.48 $1.5M Form 4
Mar 23, 2026 Todd S NelsonPresident and CEO, Director Sold plan 40,000 $35.24 $1.4M Form 4
Mar 18, 2026 Ashish R GhiaCFO Sold plan 33,271 $35.08 $1.2M Form 4

Piotroski F-score

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

TestFY23FY24FY25
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 — / 9— / 9— / 9
Accruals ratio 3.6%−1.3%−5.3%
Altman Z'' 11.438.849.58

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
Perdoceo Education PRDO $2.2B 24.2% 23.2% 25.6% — 12.3x —
Universal Technical Institute UTI $1.2B 14.1% 10.0% 6.6% 24.0% 35.8x 6 Compare →
Coursera COUR $1.2B 9.0% −10.2% 14.2% — — 5 Compare →
Duolingo DUOL $7.2B 38.7% 13.1% 35.6% 77.6% 17.0x 4 Compare →
Grand Canyon Education LOPE $4.3B 7.1% 24.0% 21.6% 45.3% 19.8x 4 Compare →

10 years of figures

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

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $704M $596M $581M $628M $687M $693M $695M $710M $681M $846M
Operating income −$32.3M $34.1M $71.3M $86.5M $143M $149M $130M $150M $174M $196M
Interest expense $0.6M $0.5M $0.7M $0.2M $0.2M $0.9M $0.4M $0.4M $0.6M $6.5M
Pretax income −$35.3M $35.2M $73.7M $92.4M $147M $149M $134M $192M $201M $217M
Income tax −$16.6M $67.1M $18.6M $22.4M $22.5M $39.4M $38.4M $44.5M $53.8M $56.9M
Net income −$18.7M −$31.9M $55.2M $70.0M $124M $110M $95.9M $148M $148M $160M
Diluted EPS −$0.27 −$0.46 $0.77 $0.97 $1.74 $1.55 $1.39 $2.18 $2.19 $2.42
Diluted shares 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B
Cash flow
Cash from operations $6.5M −$21.8M $57.0M $73.1M $180M $191M $148M $112M $162M $225M
Capital expenditure $4.1M $6.3M $6.7M $5.2M $9.8M $10.5M $12.6M $6.4M $4.6M $8.6M
Free cash flow $2.4M −$28.1M $50.3M $67.9M $170M $181M $136M $106M $157M $217M
Depreciation and amortization $22.7M $14.0M $9.4M $9.1M $14.8M $16.8M $19.7M $16.9M $14.6M $41.6M
Stock-based compensation $3.2M $5.0M $5.6M $9.3M $13.4M $15.0M $8.8M $8.1M $10.2M $11.7M
Acquisitions $0.0M $0.0M $0.0M $0.0M $39.8M $57.1M $84.3M $0.0M $138M $0.9M
Share buybacks $0.0M $0.0M $0.0M $3.9M $17.9M $25.3M $23.1M $8.3M $6.8M $121M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $14.4M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $3.9M $17.9M $25.3M $23.1M $22.7M $6.8M $121M
Balance sheet
Cash and short-term investments $207M $180M $229M $294M $406M $494M $509M $603M $569M $622M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $17.0M $11.6M
Current assets $248M $211M $269M $360M $467M $555M $575M $655M $640M $697M
Current liabilities $169M $113M $97.1M $104M $104M $140M $163M $111M $132M $138M
Inventory $1.9M $1.1M $0.8M $0.6M $0.6M $0.9M $1.9M $5.0M $3.4M $4.0M
Property and equipment, net $40.5M $33.2M $30.0M $26.0M $27.8M $28.4M $26.0M $21.4M $95.5M $83.3M
Total assets $560M $447M $483M $599M $722M $847M $957M $1.0B $1.2B $1.2B
Total liabilities $238M $151M $127M $168M $166M $197M $232M $166M $278M $275M
Shareholders' equity $322M $296M $355M $431M $556M $650M $726M $841M $960M $972M
Margins
Operating margin −4.6% 5.7% 12.3% 13.8% 20.8% 21.5% 18.7% 21.2% 25.6% 23.2%
EBITDA margin −1.4% 8.1% 13.9% 15.2% 23.0% 23.9% 21.5% 23.6% 27.7% 28.1%
Net margin −2.7% −5.4% 9.5% 11.2% 18.1% 15.8% 13.8% 20.8% 21.7% 18.9%
FCF margin 0.3% −4.7% 8.7% 10.8% 24.8% 26.1% 19.5% 14.9% 23.0% 25.6%
Returns
Return on capital employed −8.0% 9.4% 19.8% 19.6% 25.7% 22.5% 17.3% 17.8% 17.4% 17.7%
Return on equity −5.7% −10.3% 16.9% 17.8% 25.2% 18.2% 13.9% 18.8% 16.4% 16.6%
Return on assets −3.2% −6.3% 11.9% 12.9% 18.8% 14.0% 10.6% 15.0% 13.2% 12.9%
Growth
Revenue growth −16.9% −15.3% −2.5% 8.0% 9.5% 0.8% 0.3% 2.1% −4.1% 24.2%
Net income growth −136.1% — — 26.8% 77.6% −11.8% −12.6% 54.0% −0.0% 8.4%
EPS growth −135.5% — — 26.0% 79.4% −10.9% −10.3% 56.8% 0.5% 10.5%
FCF growth — −1,298.7% — 35.1% 150.6% 6.2% −25.0% −22.1% 48.6% 38.0%
Share count change 0.1% 0.8% 3.7% 0.8% −1.1% −0.5% −2.6% −1.8% −0.9% −1.6%
Financial health
Interest coverage −55.4x 75.7x 104.7x 517.7x 855.9x 162.0x 324.1x 372.4x 284.3x 30.3x
Current ratio 1.5x 1.9x 2.8x 3.5x 4.5x 4.0x 3.5x 5.9x 4.8x 5.1x
Quick ratio 1.5x 1.9x 2.8x 3.5x 4.5x 4.0x 3.5x 5.9x 4.8x 5.0x
Capital allocation
Capex / revenue 0.6% 1.1% 1.2% 0.8% 1.4% 1.5% 1.8% 0.9% 0.7% 1.0%
Stock comp / revenue 0.5% 0.8% 1.0% 1.5% 2.0% 2.2% 1.3% 1.1% 1.5% 1.4%
Payouts / FCF 0.0% — 0.0% 5.7% 10.5% 14.0% 17.1% 21.5% 4.3% 55.8%
Quality scores
Altman Z'' 1.5 3.2 5.9 6.6 8.8 8.8 8.2 11.4 8.8 9.6
Accruals ratio −4.3% −2.0% −0.4% −0.6% −8.4% −10.4% −5.8% 3.6% −1.3% −5.3%

Source: SEC EDGAR XBRL filings (CIK 0001046568). Data updated October 20, 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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