APEINasdaqServices-Educational ServicesFiscal year ends December 31
AMERICAN PUBLIC EDUCATION INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$49.35+0.16 (+0.33%)
Close on Oct 19, 2026
- Market cap
- $928.27M
- P/E (TTM)
- 20.3
- Dividend yield
- –
AMERICAN PUBLIC EDUCATION INC revenue by segment
By business segment
| Revenue | Q2 26 | Q1 26 | Q4 25 | Q3 25 | Q2 25 | Q1 25 | Q4 24 | Q3 24 | Q2 24 | Q1 24 | Q4 23 | Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Health+ | $86.22M | $85.36M | – | – | $77.66M | $76.93M | – | – | – | – | – | – | 50.2% | +11.0% |
| Military+ Segment | $85.54M | $89.44M | – | – | $81.73M | $83.95M | – | – | – | – | – | – | 49.8% | +4.7% |
| APUS | – | – | $71.03M | $83.14M | $81.73M | $83.95M | $82.36M | $76.98M | $77.05M | $80.66M | $79.36M | $76.41M | – | – |
| HCN | – | – | $20.73M | $18.44M | $18.13M | $17.68M | $18.94M | $15.49M | $16.41M | $16.45M | $15.79M | $13.74M | – | – |
| RU Segment | – | – | $66.63M | $60.83M | $59.52M | $59.25M | $57.49M | $52.60M | $53.03M | $53.14M | $52.58M | $52.07M | – | – |
| HCN | – | – | – | $18.44M | $18.13M | $17.68M | – | $15.49M | $16.41M | $16.45M | – | $13.74M | – | – |
| APUS | – | – | – | $83.14M | $81.73M | $83.95M | – | $76.98M | $77.05M | $80.66M | – | $76.41M | – | – |
| RU | – | – | – | $60.83M | $59.52M | $59.25M | – | $52.60M | $53.03M | $53.14M | – | $52.07M | – | – |
| Operating income | Q2 26 | Q1 26 | Q4 25 | Q3 25 | Q2 25 | Q1 25 | Q4 24 | Q3 24 | Q2 24 | Q1 24 | Q4 23 | Q3 23 | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Military+ Segment | $23.72M | $30.72M | – | – | $21.44M | $24.13M | – | – | – | – | – | – | +10.6% |
| Health+ | $308.00K | $517.00K | – | – | -$2.38M | -$818.00K | – | – | – | – | – | – | -113.0% |
| APUS | – | – | $19.98M | $25.28M | $21.44M | $24.13M | $27.28M | $20.77M | $18.29M | $23.09M | $26.46M | $21.95M | – |
| HCN | – | – | $1.17M | -$873.00K | -$402.00K | -$746.00K | $697.00K | -$771.00K | -$744.00K | -$304.00K | $783.00K | -$641.00K | – |
| RU Segment | – | – | $7.33M | -$1.24M | -$1.98M | -$72.00K | $3.60M | -$7.61M | -$8.83M | -$8.97M | -$2.87M | -$10.57M | – |
By product or service
| Revenue | Q2 26 | Q1 26 | Q4 25 | Q3 25 | Q2 25 | Q1 25 | Q4 24 | Q3 24 | Q2 24 | Q1 24 | Q4 23 | Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Instructional services, net of grants and scholarships | $156.26M | $158.86M | $142.93M | $148.79M | $149.77M | $150.34M | $150.81M | $141.36M | $141.25M | $142.28M | $141.04M | $140.00M | 91.0% | +4.3% |
| Textbook and other course materials | $13.05M | $12.24M | $13.16M | $11.82M | $10.87M | $11.82M | $11.65M | $9.93M | $10.18M | $10.46M | $10.17M | $9.50M | 7.6% | +20.1% |
| Graduation fees | $1.24M | $1.11M | $660.00K | $1.23M | $910.00K | $1.09M | $541.00K | $794.00K | $459.00K | $660.00K | $626.00K | $381.00K | 0.7% | +36.4% |
| Other fees | $1.18M | $2.53M | $1.58M | $1.39M | $1.22M | $1.30M | $1.11M | $1.04M | $1.01M | $1.03M | $978.00K | $953.00K | 0.7% | -3.7% |
By region
From the segment and revenue-disaggregation notes of American Public Education's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.