LINC - LINCOLN EDUCATIONAL SERVICES CORP

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	17.8% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+255%)	16.4% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+228%)	8.6% Fair → Fair Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+71%)	3.9% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-23%)	14.4% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+188%)	7.2% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+45%)	3.9% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-23%)	0.5% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-90%)	33.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+560%)	1.9% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-62%)	-4.8% Weak ↑ Weak Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-195%)	-40.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-912%)	-15.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-404%)	-18.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-462%)	-23.1% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-562%)	15.7% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+215%)	—	—
EPS Growth YoY (%)	103.1% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-62.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	138.9% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	-65.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-30.2% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	1762.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	43.7% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	60.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-764.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	94.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-7.9% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-35.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	N/M	-72.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	52.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	102.2% Excellent ↑ Excellent Improving Year-over-year change in net income	-62.0% Weak ↓ Weak Declining Year-over-year change in net income	105.8% Excellent ↓ Excellent Declining Year-over-year change in net income	-63.6% Weak ↓ Weak Declining Year-over-year change in net income	-28.5% Weak ↓ Weak Declining Year-over-year change in net income	2310.2% Excellent ↑ Excellent Improving Year-over-year change in net income	N/M	43.0% Excellent ↑ Excellent Improving Year-over-year change in net income	59.4% Excellent ↑ Excellent Improving Year-over-year change in net income	-744.9% Weak ↓ Weak Declining Year-over-year change in net income	94.0% Excellent ↑ Excellent Improving Year-over-year change in net income	-9.5% Weak ↑ Weak Improving Year-over-year change in net income	-37.9% Weak ↓ Weak Declining Year-over-year change in net income	N/M	-74.8% Weak Weak Year-over-year change in net income	41.6% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	—	-79.2% Weak ↓ Weak Declining Year-over-year change in free cash flow	-60.6% Weak Weak Year-over-year change in free cash flow	N/M	9.8% Fair ↓ Fair Declining Year-over-year change in free cash flow	N/M	31.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	61.1% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-62.5% Weak Weak Year-over-year change in free cash flow	N/M	162.3% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	N/M	N/M	58.2% Excellent Excellent Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	14.2% Good ↑ Good Improving Compound annual revenue growth over 3 years	9.5% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	8.9% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	8.4% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	8.4% Fair → Fair Stable Compound annual revenue growth over 3 years	3.8% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	11.6% Good ↑ Good Improving Compound annual revenue growth over 3 years	10.9% Good ↑ Good Improving Compound annual revenue growth over 3 years	8.9% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	-16.8% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-21.7% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-25.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-18.9% Weak Weak Compound annual revenue growth over 3 years	-10.0% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	12.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	10.0% Good ↑ Good Improving Compound annual revenue growth over 5 years	7.5% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	5.9% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	11.2% Good ↑ Good Improving Compound annual revenue growth over 5 years	8.7% Good ↑ Good Improving Compound annual revenue growth over 5 years	6.1% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	-5.1% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-8.2% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-16.7% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-21.3% Weak Weak Compound annual revenue growth over 5 years	-18.2% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	21.8% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	-32.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-16.7% Weak Weak Compound annual EPS growth over 3 years	65.1% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	5.8% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-51%)	3.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-71%)	8.8% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-26%)	4.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-61%)	14.7% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+22%)	5.0% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-58%)	1.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-84%)	-1.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-113%)	-1.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-115%)	-2.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-122%)	0.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-97%)	-5.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-147%)	-2.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	-6.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-157%)	8.2% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-32%)	19.2% Good Good Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+60%)	16.0% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+33%)	—
Effective Tax Rate (%) (%)	23.4% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	32.8% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	27.1% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	23.1% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.5% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-259.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	11.7% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-3.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	2.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-4.7% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-9.8% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	9.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-169.9% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-25.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-41.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	41.0% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	41.5% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	3.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-52%)	2.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-72%)	6.9% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-14%)	3.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	10.4% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+29%)	16.6% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+107%)	0.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-91%)	-2.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-131%)	-4.4% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-155%)	-14.4% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-280%)	-1.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-122%)	-27.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-446%)	-15.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-288%)	-9.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-215%)	3.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	10.9% Fair Fair Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+36%)	8.9% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+11%)	—
FCF Margin (%) (%)	-5.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-6.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-4.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-2.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	5.9% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	6.1% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-1.6% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-2.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-6.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-4.9% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	6.3% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	2.2% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-1.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	1.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-0.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	11.3% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	8.9% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-1.37x Weak → Weak Stable Free cash flow relative to reported net income Optimal: > 1x	-2.79x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.58x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.64x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.57x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.37x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-2.18x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.98x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	1.40x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	0.34x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-3.62x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.08x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.06x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.19x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.07x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.03x Fair Fair Free cash flow relative to reported net income Optimal: > 1x	1.00x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%)	11.6% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	5.7% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	14.6% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	8.6% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	28.0% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	48.8% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	5.9% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	-5.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-4.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-5.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	0.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-12.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-9.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-17.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	23.7% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	32.5% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	23.6% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	6.1% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	3.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	9.7% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	5.6% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	16.7% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	6.0% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	2.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-2.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-5.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-8.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	11.1% Good Good Operating profit relative to total assets Optimal: > 10%	29.7% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	10.0% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-33%)	5.5% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-63%)	15.6% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	8.7% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-42%)	26.8% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+79%)	53.3% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+256%)	4.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-69%)	-16.4% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-209%)	-25.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-267%)	-51.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-444%)	-4.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-128%)	-67.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-551%)	-35.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-335%)	-18.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-225%)	7.3% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-51%)	31.3% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+109%)	22.5% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+50%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Debt to Equity (x)	—	—	—	—	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.20x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-72%)	0.81x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+15%)	0.85x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+21%)	1.17x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+67%)	0.98x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+40%)	0.73x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.38x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-46%)	0.03x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-96%)	—	—	—	—
Interest Coverage (x)	8.93x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	5.92x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	96.13x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	101.74x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	24.45x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	11.59x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	1.77x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-1.63x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-0.66x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-0.86x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	0.10x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-2.22x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-1.48x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-6.18x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	9.19x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	27.06x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	20.66x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-28.52M	$-59.27M	$-75.99M	$-46.07M	$-83.31M	$-20.19M	$11.16M	$16.20M	$38.84M	$32.82M	$20.45M	$-12.30M	$41.61M	$-55.64M	$-26.52M	$-66.00M	$-46.08M	$-15.23M
Debt / EBITDA (x)	—	—	—	—	0.00x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.80x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.61x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	7.56x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	13.40x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	9.13x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.85x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.25x Caution Caution Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-7.50x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	—	$14.39	$12.56	$13.46	$13.37	$11.84	$11.13	$10.78	$10.95	$8.40	$8.34	$8.89	$15.17	$18.14	$22.34	$26.19	$20.98	—
Basic EPS, GAAP (USD)	$0.65	$0.32	$0.86	$0.36	$1.04	$1.49	$0.08	$-0.27	$-0.48	$-1.21	$-0.14	$-2.46	$-2.28	$-1.68	$0.80	$2.86	$1.87	—
Free Cash Flow per Share (USD)	—	$-0.90	$-0.50	$-0.31	$0.79	$0.72	$-0.18	$-0.26	$-0.67	$-0.41	$0.52	$0.20	$-0.15	$0.32	$-0.06	$2.95	$1.87	—
Dividend per Share (USD)	—	—	—	—	—	—	—	—	—	—	—	$0.18	$0.28	$0.28	$0.07	$1.00	—	—
Book Value per Share (USD)	$6.31	$5.67	$5.32	$4.65	$4.79	$3.44	$1.71	$1.30	$1.50	$1.79	$2.72	$2.77	$4.85	$6.69	$8.37	$7.91	$8.30	—
Tangible Book Value per Share (USD)	$5.97	$5.32	$4.98	$4.18	$4.25	$2.89	$1.13	$0.83	$1.02	$1.32	$2.23	$1.99	$2.70	$4.41	$4.88	$4.12	$8.30	—
Basic Weighted Avg Shares (shares)	30,942	30.58M	30.11M	25.88M	25.08M	24.75M	24.55M	24.42M	23.91M	23.45M	23.17M	22.81M	22.51M	22.20M	22.02M	24.42M	26.34M	—
Dividend Payout Ratio (%)	—	—	—	—	—	—	—	—	—	—	—	-7.3% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	-12.3% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	-16.7% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	8.8% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	35.0% Good Good Dividends paid as a percentage of earnings Optimal: 30-60%	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$-13.68M	$21.04M	$61.25M	$59.12M	$55.74M	$7.32M	$-6.73M	$-7.47M	$-2.77M	$-1.73M	$33.82M	$29.59M	$47.04M	$40.94M	$1.54M	$-4.18M	—	—
LT Debt (USD)	—	—	—	—	$0.00	$17.83M	$34.80M	$33.77M	$53.40M	$53.89M	$58.87M	$0.00	$54.50M	$6.06M	—	—	—	—
Total Equity (USD)	$199.69M	$178.26M	$166.80M	$144.88M	$129.42M	$91.07M	$43.15M	$39.87M	$45.81M	$54.93M	$81.00M	$83.01M	$145.20M	$198.48M	$239.03M	$222.49M	$218.64M	$174.95M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$518.24M	$440.06M	$378.07M	$348.29M	$335.34M	$293.10M	$273.34M	$263.20M	$261.85M	$196.91M	$193.22M	$202.89M	$341.51M	$402.70M	$491.82M	$639.49M	$552.54M	—
Depreciation Expense (USD)	$19.16M	$11.33M	$6.60M	$6.36M	$7.14M	$7.40M	$8.12M	$8.42M	$8.70M	$11.07M	$14.51M	$19.34M	$23.70M	$26.85M	$28.46M	$26.22M	$24.24M	—
Net Income, GAAP (USD)	$20.00M	$9.89M	$26.00M	$12.63M	$34.72M	$48.56M	$2.02M	$-6.54M	$-11.48M	$-28.30M	$-3.35M	$-56.13M	$-51.29M	$-37.19M	$17.54M	$69.73M	$49.24M	—
Operating Cash Flow (USD)	$59.31M	$29.31M	$25.56M	$882.00K	$27.45M	$23.48M	$988.00K	$-1.69M	$-11.32M	$-6.11M	$14.34M	$12.02M	$3.25M	$15.99M	$36.84M	$114.46M	$73.17M	—

LINCOLN EDUCATIONAL SERVICES CORP

Analytical Summary

18-Year Financial Trajectory

Health Breakdown

Dividend History

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