LINCNasdaqServices-Educational ServicesFiscal year ends December 31

LINCOLN EDUCATIONAL SERVICES CORP

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026

$22.37+0.15 (+0.68%)

Close on Oct 19, 2026

Market cap: $702.84M
P/E (TTM): 35.0
Dividend yield: –

LINCOLN EDUCATIONAL SERVICES CORP income statement

Millions of USD, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31	FY 2009 2009-12-31
Revenue	518	440	378	348	335	293	273	263	262	286	306	218	216	380	457	605	553
Cost of Revenue	205	182	162	149	139	122	123	125	129	144	152	103	102	178	197	227	211
Gross Profit	313	258	216	200	196	171	150	138	132	141	154	115	113	202	260	377	341
Selling, General & Admin	283	244	209	182	169	156	145	141	139	148	152	117	117	189	217	258	252
Selling & Marketing	85	75	66	61	–	–	–	–	–	–	–	–	–	–	–	–	–
General & Administrative	114	89	83	70	–	–	–	–	–	–	–	–	–	–	–	–	–
Advertising Expenses	48	43	38	35	33	31	30	29	27	28	28	18	16	30	38	44	–
Total Costs & Expenses	488	425	345	332	286	278	268	267	267	314	305	242	219	393	422	490	464
Operating Income	30	15	33	16	49	15	5.24	-3.95	-4.72	-29	0.70	-24	-3.45	-13	35	115	88
Interest Expense	3.39	2.57	0.35	0.16	2.02	1.28	2.96	2.42	7.10	6.13	8.02	3.43	4.27	4.48	4.37	4.52	4.28
Interest & Investment Income	0.13	2.10	2.63	0.32	0	0	0.01	0.03	0.06	0.16	0.05	0.06	0.04	0.00	0.02	0.03	0.03
Asset Impairment Charges	0	0	4.22	1.05	0	0	0	0	0	21	0.22	22	0	18	8.29	4.85	0.50
Gain (Loss) on Sale of Assets	0.41	-2.12	31	0.18	22	0.08	0.57	-0.54	1.62	-0.23	-1.74	0.06	0.28	0.08	-0.01	0.01	-0.04
Pretax Income	26	15	36	16	47	14	2.28	-6.35	-12	-28	-3.11	-27	-7.66	-17	31	111	84
Income Tax Expense	6.12	4.82	9.64	3.80	13	-35	0.27	0.20	-0.27	0.20	0.24	-1.48	20	-2.28	13	-45	35
Income from Continuing Operations	–	–	–	–	–	–	–	–	–	-4.50	0.14	-26	-27	-15	18	66	–
Income from Discontinued Operations	–	–	–	–	–	–	–	–	–	-24	-3.49	-31	-24	-22	-0.02	4.04	–
Net Income	20	9.89	26	13	35	49	2.02	-11	-11	-28	-3.35	-56	-51	-37	18	70	49
Preferred Dividends	–	0	0	1.11	1.22	1.38	0	–	–	–	–	–	–	–	–	–	–
Net Income to Common	–	9.89	26	9.21	26	37	1.92	-11	-11	–	–	–	–	–	–	–	–
EPS (Basic)(per share)	0.65	0.32	0.86	0.36	1.04	1.49	0.08	-0.48	-0.48	-1.21	-0.14	-2.46	-2.28	-1.68	0.80	2.86	1.87
EPS (Diluted)(per share)	0.64	0.32	0.85	0.36	1.04	1.49	0.08	-0.48	-0.48	-1.21	-0.14	-2.46	-2.28	-1.68	0.79	2.79	1.82
Shares Outstanding (Basic, Weighted)(shares)	0.03	0.03	0.03	26	25	25	25	24	24	23	23	23	23	22	22	24	26
Shares Outstanding (Diluted, Weighted)(shares)	0.03	0.03	0.03	26	25	25	25	24	24	23	23	23	23	22	22	25	27
Dividend per Share(per share)	–	–	–	–	–	–	–	–	–	–	–	0.18	0.28	0.28	0.07	1.00	–
EBITDA	49	27	40	23	56	22	13	4.47	3.99	-18	15	-4.32	20	14	63	141	113

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Jun 30, 2026

Profitability, TTM

Gross margin: 59.8%
Operating margin: 5.9%
Net margin: 4.0%
Return on equity, FY2025: 10.6%

Financial strength

Current ratio: 0.96
Debt to equity: 0.13
Debt to assets: 4.9%
Cash to current liabilities: 39.8%

Valuation

P/E ratio: 35.0
Price to sales: 1.23
Price to book: 3.47
Dividend yield: –