1. United States of America Stocks

  2. •

    Consumer Defensive

  3. •

    Education & Training Services
Lincoln Educational Services Corporation

Lincoln Educational Services Corporation

LINC
Lincoln Educational Services CorporationUS flagNASDAQ Global Select
50.07
USD
+1.01
- -
1.59BMarket Cap

Income Statement (USD)

APIChat
2011 Y
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
Sales/Revenue/Turnover
457
380
216
218
306
286
262
263
273
293
335
348
378
440
518
+ Sales & Services Revenue
457
380
216
218
306
286
262
263
273
293
335
348
378
440
518
- Cost of Revenue
197
178
102
103
152
144
129
125
123
122
139
149
162
182
205
+ Cost of Goods & Services
197
178
102
103
152
144
129
125
123
122
139
149
162
182
205
Gross Profit
260
202
113
115
154
141
132
138
150
171
196
200
216
258
313
+ Other Operating Income
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- Operating Expenses
217
189
117
117
152
148
139
141
145
156
169
182
209
244
284
+ Selling, General & Admin
217
189
117
117
152
148
139
141
145
156
169
182
209
244
283
+ Research & Development
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Operating Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
Operating Income (Loss)
43
12
-4
-2
3
-7
-6
-3
5
15
27
17
7
15
29
- Non-Operating (Income) Loss
13
30
4
25
6
21
5
3
2
1
-20
1
-29
- -
3
+ Interest Expense, Net
4
4
4
3
8
6
7
2
3
1
2
- -
-2
- -
3
+ Interest Expense
4
4
4
3
8
6
7
2
3
1
2
- -
- -
3
3
- Interest Income
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
3
2
- -
+ Other Non-Op (Income) Loss
8
25
- -
22
-2
15
-2
1
-1
- -
-22
1
-27
-1
- -
Pretax Income
31
-17
-8
-27
-3
-28
-12
-6
2
14
47
16
36
15
26
- Income Tax Expense (Benefit)
13
-2
20
-1
- -
- -
- -
- -
- -
-35
13
4
10
5
6
- (Income) Loss from Affiliates
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Income (Loss) from Cont Ops
18
-15
-27
-26
-3
-28
-11
-7
2
49
35
13
26
10
20
- Net Extraordinary Losses (Gains)
- -
22
24
31
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Discontinued Operations
- -
-22
-24
-31
-1
-24
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Extraord. & Accounting Changes
- -
45
48
61
1
24
- -
- -
- -
- -
- -
- -
- -
- -
- -
Income (Loss) Incl. MI
18
-37
-51
-56
-3
-28
-11
-7
2
49
35
13
26
10
20
- Minority Interest
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
18
-37
-51
-56
-3
-28
-11
-7
2
49
35
13
26
10
20
- Preferred Dividends
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
1
1
- -
- -
- -
- Other Adjustments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income Avail to Common, GAAP
18
-37
-51
-56
-3
-28
-11
-7
2
47
33
12
26
10
20
EBIT
43
12
-4
-2
3
-7
-6
-3
5
15
27
17
7
15
29
EBITDA
72
39
20
18
17
4
2
5
13
22
35
24
13
26
48
EBITDA Margin (%)
15.7
10.33
9.26
8.03
5.61
1.31
0.9
1.9
4.68
7.54
10.32
6.75
3.51
5.87
9.29
EBITA
43
12
-4
-2
3
-7
-6
-3
5
15
27
17
7
15
29
Gross Margin (%)
56.95
53.11
52.46
52.62
50.46
49.42
50.58
52.37
54.82
58.31
58.57
57.29
57.08
58.7
60.37
Operating Margin (%)
9.47
3.26
-1.73
-0.84
0.87
-2.56
-2.42
-1.3
1.71
5.02
8.2
4.92
1.76
3.3
5.59
Profit Margin (%)
3.84
-9.78
-23.79
-25.74
-1.09
-9.91
-4.39
-2.49
0.74
16.57
10.35
3.63
6.88
2.25
3.86
Sales per Employee
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.84
0.29
0.3
0.19
- -
- -
- -
- -
- -
0.06
0.05
0.04
- -
- -
- -
Depreciation Expense
28
27
24
19
15
11
9
8
8
7
7
6
7
11
19
Basic Weighted Avg Shares
22
22
23
23
23
23
24
24
25
25
25
26
30
31
31
Basic EPS, GAAP
0.8
-1.68
-2.28
-2.46
-0.14
-1.21
-0.48
-0.27
0.08
1.91
1.34
0.45
0.86
0.32
0.65
Basic EPS from Cont Ops
0.8
-0.67
-1.21
-1.12
-0.14
-1.21
-0.48
-0.27
0.08
1.96
1.38
0.49
0.86
0.32
0.65
Diluted Weighted Avg Shares
22
22
23
23
23
23
24
24
25
25
25
26
31
31
31
Diluted EPS, GAAP
0.79
-1.68
-2.28
-2.46
-0.14
-1.21
-0.48
-0.27
0.08
1.91
1.34
0.45
0.85
0.32
0.64
Diluted EPS from Cont Ops
0.79
-0.67
-1.21
-1.12
-0.14
-1.21
-0.48
-0.27
0.08
1.96
1.38
0.49
0.85
0.32
0.64

Balance Sheet (USD)

APIChat
2011 Y
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
Total Current Assets
73
100
104
113
105
65
45
57
50
74
122
114
135
111
87
+ Cash, Cash Equivalents & STI
27
62
13
12
38
21
15
18
24
38
83
61
76
59
29
+ Cash & Cash Equivalents
27
62
13
12
38
21
15
18
24
38
83
46
76
59
29
+ ST Investments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
15
- -
- -
- -
+ Accounts & Notes Receiv
20
17
16
14
10
15
16
19
21
30
26
37
36
44
47
+ Accounts Receivable, Net
20
17
16
14
10
15
16
19
21
30
26
37
36
43
37
+ Notes Receivable, Net
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Loans Receivable, Net
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Receivable, Net
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
10
+ Inventories
3
3
2
1
1
2
2
1
2
2
3
3
3
3
4
+ Raw Materials
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Work In Process
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Finished Goods
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Inventory Adjustments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Inventory
3
3
2
1
1
2
2
1
2
2
3
3
3
3
4
+ Other ST Assets
23
18
72
86
55
26
13
19
5
4
9
14
20
5
8
+ Misc ST Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Prepaid Expenses
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ ST Derivative & Hedging Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ ST Assets Held-for-Sale
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ ST Deferred Tax Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Noncurrent Assets
290
247
202
101
103
99
110
89
144
171
174
177
211
325
406
+ Property, Plant & Equip, Net
180
154
127
70
67
55
53
49
98
104
115
117
157
266
351
+ Property, Plant & Equip
302
292
274
207
190
213
217
220
271
280
268
263
297
408
499
- Accumulated Depreciation
122
138
147
137
123
157
164
171
172
176
153
146
140
141
148
+ LT Investments & Receivables
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ LT Investments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ LT Receivables
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other LT Assets
110
93
75
31
36
43
58
40
46
67
59
60
54
59
55
+ Total Intangible Assets
100
68
64
23
15
15
15
15
15
15
15
15
11
11
11
+ Goodwill
97
66
62
22
15
15
15
15
15
15
15
15
11
11
11
+ Other Intangible Assets
2
2
2
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ LT Deferred Tax Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ LT Derivative & Hedging Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Misc LT Assets
10
25
11
8
22
29
43
25
31
53
45
46
43
48
44
Total Assets
362
347
306
214
208
163
155
146
195
245
295
292
345
437
493
+ Payables & Accruals
22
20
20
20
18
22
19
20
19
20
17
16
25
43
33
+ Accounts Payable
15
14
15
12
13
14
11
14
15
16
12
10
18
37
27
+ Accrued Taxes
- -
- -
- -
- -
- -
- -
- -
- -
- -
3
3
4
5
3
2
+ Interest & Dividends Payable
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Payables & Accruals
7
7
6
8
5
8
9
6
4
2
2
1
2
3
3
+ ST Debt
- -
- -
- -
30
10
12
- -
15
11
11
11
10
12
9
11
+ ST Borrowings
- -
- -
- -
30
10
12
- -
15
2
2
- -
- -
- -
- -
- -
+ ST Finance Leases
- -
- -
- -
- -
- -
- -
- -
- -
9
9
11
10
12
9
11
+ Other ST Liabilities
49
38
36
33
43
33
28
29
27
36
37
30
37
38
57
+ Deferred Revenue
43
35
30
26
24
25
25
23
23
23
25
24
27
31
44
+ Derivatives & Hedging
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Deferred Tax Liabilities
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Misc ST Liabilities
5
3
6
7
19
8
4
7
4
13
12
5
10
8
13
Total Current Liabilities
71
59
57
83
71
66
47
65
57
67
66
55
73
90
101
+ LT Debt
36
73
90
35
46
30
53
34
78
68
86
91
105
168
193
+ LT Borrowings
36
73
54
- -
32
30
53
34
32
15
- -
- -
- -
- -
- -
+ LT Finance Leases
36
- -
35
35
13
- -
- -
- -
46
53
86
91
105
168
193
+ Other LT Liabilities
16
17
14
13
10
12
9
8
4
7
2
1
- -
- -
- -
+ Accrued Liabilities
- -
- -
5
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Pension Liabilities
7
7
2
5
6
5
4
4
4
4
2
1
- -
- -
- -
+ Deferred Revenue
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Deferred Tax Liabilities
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Derivatives & Hedging
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Misc LT Liabilities
9
10
8
7
5
6
5
4
- -
3
- -
- -
- -
- -
- -
Total Noncurrent Liabilities
52
90
104
47
56
42
62
42
82
75
88
92
105
168
193
Total Liabilities
123
148
161
131
127
108
109
106
140
142
154
147
178
258
293
+ Preferred Equity and Hybrid Capital
- -
- -
- -
- -
- -
- -
- -
- -
12
12
12
- -
- -
- -
- -
+ Share Capital & APIC
161
164
166
168
169
170
171
171
172
172
174
95
98
99
101
+ Common Stock
141
141
141
141
141
141
141
141
141
141
141
49
48
48
48
+ Additional Paid in Capital
20
23
24
26
27
29
29
29
30
31
32
46
49
51
52
- Treasury Stock
83
83
83
83
83
83
83
83
83
83
83
- -
- -
- -
- -
+ Retained Earnings
168
124
66
6
2
-26
-38
-44
-42
6
40
51
69
79
99
+ Other Equity
-7
-7
-4
-7
-7
-6
-5
-4
-3
-4
-1
-1
- -
- -
- -
Equity Before Minority Interest
239
198
145
83
81
55
46
40
55
103
141
145
167
178
200
+ Minority/Non Controlling Interest
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Equity
239
198
145
83
81
55
46
40
55
103
141
145
167
178
200
Total Liabilities & Equity
362
347
306
214
208
163
155
146
195
245
295
292
345
437
493
Shares Outstanding
23
24
24
24
24
25
25
25
25
26
27
31
31
31
32
Number of Employees
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Capital Leases - Total
37
- -
36
35
14
- -
- -
- -
55
61
98
101
117
178
204
Net Debt
10
12
42
18
4
21
38
31
10
-21
-83
-46
-76
-59
-29
Net Debt to Equity
3.98
5.95
28.96
21.32
4.57
38.04
83.01
78.26
18.84
-20.2
-58.92
-31.8
-45.56
-33.25
-14.28
Tangible Common Equity Ratio
53.08
46.85
33.46
31.32
34.38
27.15
22.23
19.26
15.88
33.18
40.92
47.05
46.65
39.34
39.17
Current Ratio
1.02
1.7
1.83
1.35
1.48
0.97
0.94
0.88
0.88
1.11
1.85
2.07
1.83
1.23
0.86
Cash Conversion Cycle
-10.76
-6.06
-13.08
-15.71
-12.28
-13.34
-7.77
-7.47
-11.57
-7.38
0.63
11.75
9.28
-16.72
-22.26

Cash Flow Statement (USD)

APIChat
2011 Y
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
+ Net Income
18
-37
-51
-56
-3
-28
-11
-7
2
49
35
13
26
10
20
+ Depreciation & Amortization
28
27
24
19
15
11
9
8
8
7
7
6
7
11
19
+ Non-Cash Items
48
55
50
57
13
31
14
18
21
-8
18
40
22
63
67
+ Stock-Based Compensation
4
4
3
3
1
1
1
1
1
2
3
3
6
5
5
+ Deferred Income Taxes
3
-14
26
-5
- -
- -
- -
- -
- -
-36
12
1
2
-2
3
+ Asset Impairment Charge
10
43
6
43
- -
21
2
- -
1
- -
1
1
4
- -
- -
+ Other Non-Cash Adj
31
21
15
16
12
8
11
18
19
27
2
34
11
60
59
+ Chg in Non-Cash Work Cap
-57
-29
-19
-8
-10
-20
-23
-22
-30
-25
-33
-58
-29
-54
-47
+ (Inc) Dec in Accts Receiv
-29
-15
-16
-7
-13
-16
-16
-24
-26
-37
-26
-49
-46
-66
-55
+ (Inc) Dec in Inventories
1
- -
- -
- -
- -
- -
- -
- -
- -
-1
- -
- -
- -
- -
-1
+ (Inc) Dec in Prepaid Assets
-2
-1
- -
-1
- -
- -
1
- -
-1
- -
-1
- -
1
-1
-10
+ Inc (Dec) in Accts Payable
-20
-4
2
1
1
2
-7
3
-1
10
-4
-8
11
8
-4
+ Inc (Dec) in Other
-7
-9
-6
-1
1
-7
-1
-1
-2
3
-1
-1
5
4
23
+ Net Cash From Disc Ops
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Cash from Operating Activities
37
16
3
12
14
-6
-11
-2
1
23
27
1
26
29
59
+ Change in Fixed & Intang
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Disp in Fixed & Intang
- -
- -
1
- -
- -
- -
15
2
- -
- -
45
2
33
10
- -
+ Disp of Fixed Prod Assets
- -
- -
1
- -
- -
- -
15
2
- -
- -
45
2
33
10
- -
+ Disp of Intangible Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Acq of Fixed & Intang
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Acq of Fixed Prod Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Acq of Intangible Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Cash (Repurchase) of Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-9
-1
- -
- -
+ Increase in Capital Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Decrease in Capital Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-9
-1
- -
- -
+ Net Change in LT Investment
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-15
15
- -
- -
+ Dec in LT Investment
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
39
- -
- -
+ Inc in LT Investment
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-15
-24
- -
- -
+ Net Cash From Acq & Div
- -
-1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Cash from Divestitures
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Cash for Acq of Subs
- -
-1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Cash for JVs
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
+ Other Investing Activities
-37
-9
-7
-7
-2
-4
-5
-5
-5
-5
-8
-9
-41
-57
-87
+ Net Cash From Disc Ops
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Cash from Investing Activities
-37
-10
-6
-7
-2
-3
11
-2
-5
-5
38
-21
7
-47
-86
+ Dividends Paid
-18
-6
-7
-4
- -
- -
- -
- -
- -
-1
-1
-1
- -
- -
- -
+ Net Cash From Debt
-20
37
17
-25
9
-3
9
-4
-14
-17
-18
- -
- -
- -
- -
+ Cash From Debt
- -
38
60
48
54
- -
76
31
40
11
- -
- -
- -
1
45
+ Repayments of Debt
-20
- -
-43
-72
-44
-3
-67
-35
-55
-28
-18
- -
- -
- -
-45
+ Other Financing Activities
- -
-1
-56
24
4
-1
-2
- -
11
- -
-1
-2
-2
-4
-4
+ Net Cash From Disc Ops
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Cash from Financing Activities
-39
29
-46
-5
14
-4
7
-5
-3
-19
-20
-13
-3
-3
-4
Effect of Foreign Exchange Rates
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Changes in Cash
-39
35
-49
-1
26
-13
7
-9
-7
-1
45
-33
30
-21
-31
EBITDA
72
39
20
18
17
4
2
5
13
22
35
24
13
26
48
EBITDA Margin (%)
15.7
10.33
9.26
8.03
5.61
1.31
0.9
1.9
4.68
7.54
10.32
6.75
3.51
5.87
9.29
Free Cash Flow
37
16
3
12
14
-6
-11
-2
1
23
27
1
26
29
59
Net Cash Paid for Acquisitions
- -
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Free Cash Flow to Firm
39
- -
- -
- -
- -
- -
- -
- -
4
- -
29
1
26
31
62
Free Cash Flow to Equity
16
53
21
-13
24
-9
13
-3
-2
5
54
-10
59
40
60
Free Cash Flow per Basic Share
1.67
0.72
0.14
0.53
0.62
-0.26
-0.47
-0.07
0.04
0.95
1.09
0.03
0.85
0.96
1.92
Price/Free Cash Flow
4.75
7.76
34.54
5.31
3.22
-7.37
-4.27
-46.14
67.1
6.85
6.83
169.89
12
16.68
12.73
Cash Flow to Net Income
2.1
-0.43
-0.06
-0.21
-4.28
0.22
0.99
0.26
0.49
0.48
0.79
0.07
0.98
2.96
2.97
Capital Expenditures
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -