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AMERICAN PUBLIC EDUCATION (APEI) Stock Fundamental Analysis

USA - NASDAQ:APEI - US02913V1035 - Common Stock

35.37 USD
-0.32 (-0.9%)
Last: 9/17/2025, 12:44:47 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to APEI. APEI was compared to 74 industry peers in the Diversified Consumer Services industry. While APEI has a great health rating, its profitability is only average at the moment. APEI is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year APEI was profitable.
In the past year APEI had a positive cash flow from operations.
In multiple years APEI reported negative net income over the last 5 years.
APEI had a positive operating cash flow in each of the past 5 years.
APEI Yearly Net Income VS EBIT VS OCF VS FCFAPEI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M -100M

1.2 Ratios

With a decent Return On Assets value of 3.61%, APEI is doing good in the industry, outperforming 63.51% of the companies in the same industry.
Looking at the Return On Equity, with a value of 7.12%, APEI is in the better half of the industry, outperforming 60.81% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 7.08%, APEI is in the better half of the industry, outperforming 75.68% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for APEI is significantly below the industry average of 9.88%.
The 3 year average ROIC (3.11%) for APEI is below the current ROIC(7.08%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.61%
ROE 7.12%
ROIC 7.08%
ROA(3y)-8.83%
ROA(5y)-3.79%
ROE(3y)-15.94%
ROE(5y)-7.48%
ROIC(3y)3.11%
ROIC(5y)3.6%
APEI Yearly ROA, ROE, ROICAPEI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20 -30

1.3 Margins

APEI has a Profit Margin of 3.01%. This is comparable to the rest of the industry: APEI outperforms 55.41% of its industry peers.
In the last couple of years the Profit Margin of APEI has declined.
With a decent Operating Margin value of 7.53%, APEI is doing good in the industry, outperforming 60.81% of the companies in the same industry.
In the last couple of years the Operating Margin of APEI has declined.
The Gross Margin of APEI (53.39%) is better than 62.16% of its industry peers.
APEI's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 7.53%
PM (TTM) 3.01%
GM 53.39%
OM growth 3Y-6.39%
OM growth 5Y-3%
PM growth 3Y-27.64%
PM growth 5Y-14.35%
GM growth 3Y-3.61%
GM growth 5Y-2.87%
APEI Yearly Profit, Operating, Gross MarginsAPEI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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8

2. Health

2.1 Basic Checks

APEI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
APEI has more shares outstanding than it did 1 year ago.
APEI has more shares outstanding than it did 5 years ago.
The debt/assets ratio for APEI has been reduced compared to a year ago.
APEI Yearly Shares OutstandingAPEI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M
APEI Yearly Total Debt VS Total AssetsAPEI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

An Altman-Z score of 3.21 indicates that APEI is not in any danger for bankruptcy at the moment.
APEI's Altman-Z score of 3.21 is fine compared to the rest of the industry. APEI outperforms 72.97% of its industry peers.
APEI has a debt to FCF ratio of 1.88. This is a very positive value and a sign of high solvency as it would only need 1.88 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 1.88, APEI belongs to the top of the industry, outperforming 82.43% of the companies in the same industry.
A Debt/Equity ratio of 0.35 indicates that APEI is not too dependend on debt financing.
APEI has a Debt to Equity ratio of 0.35. This is comparable to the rest of the industry: APEI outperforms 48.65% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 1.88
Altman-Z 3.21
ROIC/WACC0.83
WACC8.54%
APEI Yearly LT Debt VS Equity VS FCFAPEI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.3 Liquidity

APEI has a Current Ratio of 2.83. This indicates that APEI is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 2.83, APEI belongs to the top of the industry, outperforming 83.78% of the companies in the same industry.
A Quick Ratio of 2.83 indicates that APEI has no problem at all paying its short term obligations.
APEI has a Quick ratio of 2.83. This is amongst the best in the industry. APEI outperforms 85.14% of its industry peers.
Industry RankSector Rank
Current Ratio 2.83
Quick Ratio 2.83
APEI Yearly Current Assets VS Current LiabilitesAPEI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

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5

3. Growth

3.1 Past

APEI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 20.45%, which is quite impressive.
Measured over the past years, APEI shows a decrease in Earnings Per Share. The EPS has been decreasing by -8.13% on average per year.
Looking at the last year, APEI shows a small growth in Revenue. The Revenue has grown by 5.50% in the last year.
APEI shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.88% yearly.
EPS 1Y (TTM)20.45%
EPS 3Y-10.67%
EPS 5Y-8.13%
EPS Q2Q%66.67%
Revenue 1Y (TTM)5.5%
Revenue growth 3Y14.25%
Revenue growth 5Y16.88%
Sales Q2Q%6.46%

3.2 Future

APEI is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 52.84% yearly.
APEI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.10% yearly.
EPS Next Y62.59%
EPS Next 2Y73.74%
EPS Next 3Y52.84%
EPS Next 5YN/A
Revenue Next Year5.48%
Revenue Next 2Y4.9%
Revenue Next 3Y5.1%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
APEI Yearly Revenue VS EstimatesAPEI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
APEI Yearly EPS VS EstimatesAPEI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2 -4 -6

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6

4. Valuation

4.1 Price/Earnings Ratio

APEI is valuated quite expensively with a Price/Earnings ratio of 33.37.
APEI's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of APEI to the average of the S&P500 Index (27.20), we can say APEI is valued slightly more expensively.
The Price/Forward Earnings ratio is 16.27, which indicates a correct valuation of APEI.
75.68% of the companies in the same industry are more expensive than APEI, based on the Price/Forward Earnings ratio.
APEI's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.71.
Industry RankSector Rank
PE 33.37
Fwd PE 16.27
APEI Price Earnings VS Forward Price EarningsAPEI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

77.03% of the companies in the same industry are more expensive than APEI, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, APEI is valued cheaper than 85.14% of the companies in the same industry.
Industry RankSector Rank
P/FCF 12.73
EV/EBITDA 8.56
APEI Per share dataAPEI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
APEI's earnings are expected to grow with 52.84% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.53
PEG (5Y)N/A
EPS Next 2Y73.74%
EPS Next 3Y52.84%

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0

5. Dividend

5.1 Amount

APEI does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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AMERICAN PUBLIC EDUCATION

NASDAQ:APEI (9/17/2025, 12:44:47 PM)

35.37

-0.32 (-0.9%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryDiversified Consumer Services
Earnings (Last)08-06 2025-08-06/amc
Earnings (Next)11-10 2025-11-10/amc
Inst Owners96.46%
Inst Owner Change6.25%
Ins Owners3.98%
Ins Owner Change-22.66%
Market Cap639.14M
Analysts83.08
Price Target37.74 (6.7%)
Short Float %7.55%
Short Ratio4.62
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.34
Dividend Growth(5Y)N/A
DP29.63%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)123.5%
Min EPS beat(2)74.48%
Max EPS beat(2)172.52%
EPS beat(4)4
Avg EPS beat(4)77.28%
Min EPS beat(4)15.09%
Max EPS beat(4)172.52%
EPS beat(8)7
Avg EPS beat(8)36.65%
EPS beat(12)9
Avg EPS beat(12)-50.18%
EPS beat(16)12
Avg EPS beat(16)155.1%
Revenue beat(2)0
Avg Revenue beat(2)-0.56%
Min Revenue beat(2)-0.87%
Max Revenue beat(2)-0.25%
Revenue beat(4)0
Avg Revenue beat(4)-1%
Min Revenue beat(4)-2.38%
Max Revenue beat(4)-0.25%
Revenue beat(8)0
Avg Revenue beat(8)-13.44%
Revenue beat(12)0
Avg Revenue beat(12)-9.62%
Revenue beat(16)1
Avg Revenue beat(16)-7%
PT rev (1m)6.22%
PT rev (3m)15.63%
EPS NQ rev (1m)-227.13%
EPS NQ rev (3m)-137.74%
EPS NY rev (1m)-15.82%
EPS NY rev (3m)-9.39%
Revenue NQ rev (1m)-0.12%
Revenue NQ rev (3m)0.37%
Revenue NY rev (1m)-0.07%
Revenue NY rev (3m)0.08%
Valuation
Industry RankSector Rank
PE 33.37
Fwd PE 16.27
P/S 0.99
P/FCF 12.73
P/OCF 9.47
P/B 2.35
P/tB 3.47
EV/EBITDA 8.56
EPS(TTM)1.06
EY3%
EPS(NY)2.17
Fwd EY6.14%
FCF(TTM)2.78
FCFY7.86%
OCF(TTM)3.73
OCFY10.56%
SpS35.67
BVpS15.07
TBVpS10.21
PEG (NY)0.53
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.61%
ROE 7.12%
ROCE 10.68%
ROIC 7.08%
ROICexc 11.65%
ROICexgc 17.08%
OM 7.53%
PM (TTM) 3.01%
GM 53.39%
FCFM 7.79%
ROA(3y)-8.83%
ROA(5y)-3.79%
ROE(3y)-15.94%
ROE(5y)-7.48%
ROIC(3y)3.11%
ROIC(5y)3.6%
ROICexc(3y)4.28%
ROICexc(5y)7.29%
ROICexgc(3y)5.95%
ROICexgc(5y)12.03%
ROCE(3y)4.69%
ROCE(5y)5.43%
ROICexcg growth 3Y-9.61%
ROICexcg growth 5Y-11.95%
ROICexc growth 3Y18.82%
ROICexc growth 5Y-11.02%
OM growth 3Y-6.39%
OM growth 5Y-3%
PM growth 3Y-27.64%
PM growth 5Y-14.35%
GM growth 3Y-3.61%
GM growth 5Y-2.87%
F-Score8
Asset Turnover1.2
Health
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 1.88
Debt/EBITDA 1.44
Cap/Depr 101.43%
Cap/Sales 2.68%
Interest Coverage 4.8
Cash Conversion 102.96%
Profit Quality 259.2%
Current Ratio 2.83
Quick Ratio 2.83
Altman-Z 3.21
F-Score8
WACC8.54%
ROIC/WACC0.83
Cap/Depr(3y)70.06%
Cap/Depr(5y)62.9%
Cap/Sales(3y)2.8%
Cap/Sales(5y)2.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)20.45%
EPS 3Y-10.67%
EPS 5Y-8.13%
EPS Q2Q%66.67%
EPS Next Y62.59%
EPS Next 2Y73.74%
EPS Next 3Y52.84%
EPS Next 5YN/A
Revenue 1Y (TTM)5.5%
Revenue growth 3Y14.25%
Revenue growth 5Y16.88%
Sales Q2Q%6.46%
Revenue Next Year5.48%
Revenue Next 2Y4.9%
Revenue Next 3Y5.1%
Revenue Next 5YN/A
EBIT growth 1Y32.47%
EBIT growth 3Y6.95%
EBIT growth 5Y13.38%
EBIT Next Year186.02%
EBIT Next 3Y55.73%
EBIT Next 5YN/A
FCF growth 1Y1621.67%
FCF growth 3Y84.29%
FCF growth 5Y-2.23%
OCF growth 1Y447.29%
OCF growth 3Y44.29%
OCF growth 5Y4.96%