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LINCOLN EDUCATIONAL SERVICES CORP LINC

Nasdaq · stock · Services-Educational Services · website · IPO 2005-06-23 · LEI

LINCOLN EDUCATIONAL SERVICES CORP statistics & valuation

Market cap$1.6B
P / E79.1×
P / S3.1×
P / B7.9×
Net margin3.9%
Return on equity10.0%
FCF margin-5.3%
Net cash$28.5M
Net debt / EBITDA-0.6×
Enterprise value USD$1.6B
EV / EBITDA30.4×
Earnings yield EBIT/EV2%
Return on capital7.7%
Graham number -68%$9.54

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($9.54); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-9.90% -4.40% -4.40% 0.70% 16.60% 10.40% 3.60% 6.90% 2.20% 3.90% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
-10.10% -1.80% -1.50% 1.90% 5.00% 14.70% 4.70% 8.80% 3.40% 5.80% 2016201720182019202020212022202320242025
Return on equity (%)
-51.50% -25.10% -28.80% 4.70% 53.30% 26.80% 8.70% 15.60% 5.50% 10.00% 2016201720182019202020212022202320242025
Shares outstanding
30.7M 30.6M 30.6M 25.2M 26.5M 27.0M 31.1M 31.4M 31.5M 31.6M 2016201720182019202020212022202320242025
Net debt ($)
$20.9M $38.8M $31.2M $11.2M -$20.2M -$83.3M -$59.3M -$28.5M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-17.30% -7.40% -7.90% 1.00% 19.80% 11.80% 4.30% 7.50% 2.30% 4.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
-3.40% -6.10% -2.40% -1.60% 6.10% 5.90% -2.30% -4.00% -6.30% -5.30% 2016201720182019202020212022202320242025
Debt / equity (×)
0.76× 1.17× 1.22× 0.81× 0.20× 0.00× 0.00× 0.00× 2016201720182019202020212022202320242025
EPS ($)
-$1.21 -$0.48 -$0.48 $0.08 $1.49 $1.04 $0.36 $0.85 $0.32 $0.64 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

LINCOLN EDUCATIONAL SERVICES CORP trades at about 46.6× earnings — above its 10-year norm (10-year range 4×–51×, median 17.6×).

4× 51×

Shaded band = 10-year range (4×–51×); dot = today's 46.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin5.8%3.4%8.8%4.7%14.7%5.0%1.9%-1.5%-1.8%-10.1%
Net margin3.9%2.2%6.9%3.6%10.4%16.6%0.7%-4.4%-4.4%-9.9%
FCF margin-5.3%-6.3%-4.0%-2.3%5.9%6.1%-1.6%-2.4%-6.1%-3.4%
Return on assets4.1%2.3%7.5%4.3%11.8%19.8%1.0%-7.9%-7.4%-17.3%
Return on equity10.0%5.5%15.6%8.7%26.8%53.3%4.7%-28.8%-25.1%-51.5%
Debt / equity0.00×0.00×——0.00×0.20×0.81×1.22×1.17×0.76×
Current ratio0.861.231.832.071.851.110.880.880.940.97

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.