STRANasdaqServices-Educational ServicesFiscal year ends December 31
Strategic Education, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026
$81.20−0.13 (-0.16%)
Close on Oct 19, 2026
- Market cap
- $1.76B
- P/E (TTM)
- 13.5
- Dividend yield
- 2.96%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
13.7%+3.1 pts over 5 years
Net margin
10.0%+1.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.0% | +6.0% | +4.3% | +11.3% | |
| Operating income | +12.0% | +35.0% | +9.8% | +9.6% | |
| Net income | +12.4% | +39.5% | +8.0% | +12.2% | |
| EPS, diluted | +15.8% | +40.8% | +7.5% | +3.8% | |
| Free cash flow | +19.6% | +22.9% | +9.9% | +9.0% | |
| Dividend per share | 0.0% | 0.0% | 0.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 21.0% | 5.4% | 7.7% | |
| Return on assets | 12.7% | 4.2% | 6.2% | |
| Current ratio | 2.68 | 1.43 | 1.27 | |
| Debt to equity | – | 0.08 | – | |
| Net debt to EBITDA | – | -0.37× | – | |
| Interest coverage | 89.5× | – | – | |
| Capex to revenue | 3.0% | 4.6% | 3.5% | |
| Diluted shares | 11M | 23M | 23M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Strategic Education generated $791.23M from operations and spent $714.38M on capital expenditure, dividends and share buybacks. 30% of that went back into the business.
Generated
$791.23M
Used
$714.38M
Capital expenditure$214.38M30%Dividends$293.58M41%Share buybacks$206.42M29%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.0%
×Asset turnover0.62×
×Equity multiplier1.24×
=Return on equity, FY20257.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.0% | 0.62× | 1.24× | 7.7% |
| FY2024 | 9.2% | 0.58× | 1.26× | 6.8% |
| FY2023 | 6.2% | 0.53× | 1.30× | 4.2% |
| FY2022 | 4.4% | 0.48× | 1.33× | 2.8% |
| FY2021 | 4.9% | 0.49× | 1.33× | 3.2% |
| FY2020 | 8.4% | 0.50× | 1.27× | 5.4% |
| FY2019 | 8.1% | 0.58× | 1.19× | 5.6% |
| FY2018 | -2.5% | 0.64× | 1.21× | -1.9% |
| FY2017 | 4.5% | 1.47× | 1.56× | 10.4% |
| FY2016 | 7.9% | 1.61× | 1.65× | 21.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$126.61M
- Cash generatingOperating cash flow above zero$198.20M
- Return on assets improvedROA up on the prior year5.3% → 6.2%
- Earnings backed by cashOperating cash flow above net income$198.20M vs $126.61M
- Less leverageLong-term debt to assets fell0.0% → –
- Better liquidityCurrent ratio rose1.41 → 1.27
- No dilutionShare count did not rise24M → 23M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.57 → 0.62