Laureate Education, Inc. (LAUR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.96	$1	+4.2%	—	$615.9M	—
Q1 26	-$0.22	-$0.15	+31.8%	—	$272.6M	—
Q4 25	$1.03	$1.07	+3.9%	—	$541.4M	—
Q3 25	$0.23	$0.25	+8.7%	—	$400.2M	—
Q2 25	$0.72	$0.79	+9.7%	—	$524.2M	—
Q1 25	-$0.19	-$0.13	+31.6%	—	$236.2M	—
Q4 24	$0.42	$0.61	+45.2%	—	$423.4M	—
Q3 24	$0.16	$0.56	+250.0%	—	$368.6M	—
Q2 24	$0.63	$0.83	+31.7%	—	$499.2M	—
Q1 24	-$0.03	-$0.07	-133.3%	—	$275.4M	—
Q4 23	$0.35	$0.27	-22.9%	—	$409.4M	—
Q3 23	$0.19	$0.23	+21.1%	—	$361.5M	—
Q2 23	$0.52	$0.39	-25.0%	—	$462.1M	—
Q1 23	-$0.07	-$0.17	-142.9%	—	$251.3M	—
Q4 22	$0.27	$0.24	-11.1%	—	$346.3M	—
Q3 22	$0.18	$0.19	+5.6%	—	$301M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.91	—	—	$1.7B	—
FY24	—	$1.93	—	—	$1.6B	—
FY23	—	$0.69	—	—	$1.5B	—
FY22	—	$0.42	—	—	$1.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.3B	$3.3B	$1.1B	$1.2B	$1B	$1.1B	$1.2B	$1.5B	$1.6B	$1.7B
YoY change	-23.1%	+0.95%	-65.7%	+5.9%	-15.4%	+6.03%	+14.3%	+19.5%	+5.55%	+8.64%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.3B	3.3B	1.1B	1.2B	1B	1.1B	1.2B	1.5B	1.6B	1.7B
Cost of revenue	2.8B	2.8B	904M	949.5M	802.5M	814.5M	907.4M	1.1B	1.1B	1.2B
Gross profit	513.2M	557.7M	240.6M	262.6M	222.5M	272.2M	334.9M	394.5M	419.8M	482.2M
Gross margin	15.5%	16.7%	21%	21.7%	21.7%	25%	27%	26.6%	26.8%	28.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	222.5M	315.5M	267.4M	226.3M	199.8M	204.4M	64.8M	52.6M	45.8M	51.1M
Operating expenses	222.5M	315.5M	267.4M	226.3M	199.8M	204.4M	64.8M	52.6M	45.8M	51.1M
Operating income	290.7M	242.3M	-26.8M	36.3M	22.7M	67.8M	270.2M	341.9M	374M	431.1M
Operating margin	8.8%	7.27%	-2.34%	2.99%	2.21%	6.24%	21.7%	23%	23.9%	25.3%
Non-operating income, net	452.4M	4M	92.3M	-34.2M	-374.8M	-163.5M	-15.5M	-75.5M	50.5M	-26.6M
Pretax income	367.1M	-76.8M	-120.1M	-119.7M	-450.8M	-137.5M	245.9M	254.5M	414.5M	400.9M
Income tax	34.4M	-93M	71.2M	31M	-130.1M	145.6M	185.4M	137.6M	119M	117.3M
Net income	366.2M	93.8M	370.9M	937.7M	-618.7M	203.8M	69M	107.3M	296.4M	283.8M
Net margin	11.1%	2.81%	32.4%	77.4%	-60.4%	18.8%	5.55%	7.23%	18.9%	16.7%
EBITDA	570.4M	517M	226.6M	364.5M	246.1M	215.8M	367M	453.5M	488.5M	556.9M
EPS	2.79	-1.2	1.79	4.23	-2.93	1.01	0.42	0.69	1.93	1.91
Diluted EPS	2.79	-1.2	1.73	4.22	-2.93	1.01	0.41	0.68	1.92	1.89

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	361.5M	409.4M	275.4M	499.2M	368.6M	423.4M	236.2M	524.2M	400.2M	541.4M	272.6M	615.9M
Cost of revenue	291.1M	279.4M	254M	319M	286M	288M	238.4M	317.4M	316.5M	347.5M	289M	378.2M
Gross profit	70.5M	130M	21.4M	180.2M	82.7M	135.4M	-2.2M	206.8M	83.7M	193.9M	-16.4M	237.7M
Gross margin	19.5%	31.8%	7.77%	36.1%	22.4%	32%	-0.93%	39.5%	20.9%	35.8%	-6.01%	38.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	11.8M	18.6M	10.3M	13.7M	10.6M	11.2M	11M	13.5M	12.2M	14.4M	11.1M	14.2M
Operating expenses	11.8M	18.6M	10.3M	13.7M	10.6M	11.2M	11M	13.5M	12.2M	14.4M	11.1M	14.2M
Operating income	58.7M	111.4M	11.1M	166.6M	72M	124.2M	-13.2M	193.3M	71.5M	179.5M	-27.5M	223.4M
Operating margin	16.2%	27.2%	4.04%	33.4%	19.5%	29.3%	-5.59%	36.9%	17.9%	33.2%	-10.1%	36.3%
Non-operating income, net	13.1M	-26.1M	-9.2M	27.6M	15.4M	16.8M	-3.2M	-24.8M	-2.2M	3.5M	1.5M	-2M
Pretax income	69.5M	83.7M	-862K	191M	84.9M	139.5M	-17.3M	166.8M	68.8M	182.5M	-27.3M	218.8M
Income tax	33.7M	36.2M	9.9M	63.1M	-468K	46.5M	2.5M	69.4M	34.5M	11M	-5.7M	81.7M
Net income	36M	41.7M	-10.8M	128.4M	85.3M	93.6M	-19.6M	97.4M	34.4M	171.5M	-21.6M	137.1M
Net margin	9.95%	10.2%	-3.94%	25.7%	23.1%	22.1%	-8.28%	18.6%	8.59%	31.7%	-7.92%	22.3%
EBITDA	88.4M	139.9M	40.3M	196.1M	100.9M	151.1M	12.5M	222M	102.9M	219.5M	6.5M	256.3M
EPS	0.23	0.26	-0.07	0.83	0.56	0.62	-0.13	0.65	0.23	1.18	-0.15	0.98
Diluted EPS	0.23	0.26	-0.07	0.83	0.56	0.62	-0.13	0.65	0.23	1.17	-0.15	0.98

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	3.9B	3.1B	2.3B	—	2.2B	2.8B	5B	5.2B
Enterprise value	—	—	—	5.6B	3.8B	2.6B	—	2.6B	3.1B	5.3B	5.7B
Shares outstanding	133.4M	172.4M	212.8M	221.9M	209.7M	189.7M	167.7M	157.3M	153.3M	147.8M	147.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	4.17	—	11.4	—	20.1	9.46	17.5	16.9
P/S	—	—	—	3.22	2.98	2.14	—	1.45	1.79	2.92	2.81
P/B	—	—	—	1.39	1.35	2.03	—	2.27	2.93	4.19	4.5
EV/EBITDA	—	—	—	15.2	15.5	11.9	—	5.84	6.43	9.6	10.7
EV/Sales	—	—	—	4.58	3.73	2.36	—	1.79	2	3.14	3.13
Earnings yield	—	—	—	24%	—	8.78%	—	4.97%	10.6%	5.7%	5.93%
FCF yield	—	—	—	4.71%	6.06%	-8.89%	—	9.01%	5.74%	5.29%	6.63%
PEG	—	—	—	—	—	—	—	—	—	—	0.33

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	15.5%	16.7%	21%	21.7%	21.7%	25%	27%	26.6%	26.8%	28.3%	38.6%
Operating margin	8.8%	7.27%	-2.34%	2.99%	2.21%	6.24%	21.7%	23%	23.9%	25.3%	36.3%
Net margin	11.1%	2.81%	32.4%	77.4%	-60.4%	18.8%	5.55%	7.23%	18.9%	16.7%	17.6%
ROE	53.2%	5.86%	18%	33.3%	-27.3%	17.9%	8.89%	11.3%	30.9%	23.9%	29.3%
ROA	5.18%	1.27%	5.48%	14.4%	-12.4%	9.22%	3.5%	5.05%	15.9%	12.9%	12.5%
ROIC	6.53%	5.54%	-0.61%	0.81%	0.75%	4.9%	4.96%	10.9%	20.6%	19.6%	18.9%
Return on tangible assets	92.9%	7.08%	35.4%	22.6%	-18.4%	24.5%	13.7%	23.1%	67.5%	47.3%	40.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.77	0.94	1.02	0.88	1.79	1.46	0.59	0.5	0.62	0.67	0.71
Quick ratio	0.77	0.94	1.02	0.88	1.79	1.46	0.59	0.5	0.62	0.67	0.71
Debt / equity	5.53	1.93	1.3	0.61	0.67	0.5	0.84	0.61	0.45	0.43	0.64
Debt / assets	0.54	0.42	0.4	0.26	0.3	0.26	0.33	0.27	0.23	0.23	0.3
Net debt / EBITDA	5.86	5.37	10.2	4.52	3.11	1.13	1.53	1.09	0.69	0.66	0.98
Interest coverage	1.94	0.77	0.36	0.04	-3.47	-1.97	16	13.1	23.9	38.6	36.5
Effective tax rate	9.38%	0%	0%	0%	0%	0%	75.4%	54.1%	28.7%	29.3%	27.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	24.8	19.3	5.38	5.46	4.89	5.73	7.41	9.44	10.2	11.5	12.7
EPS (basic)	2.79	-1.2	1.79	4.23	-2.93	1.01	0.42	0.69	1.93	1.91	1.91
EPS (diluted)	2.79	-1.2	1.73	4.22	-2.93	1.01	0.41	0.68	1.92	1.89	2.21
Book value per share	5.16	9.29	9.71	12.7	10.8	6.02	4.63	6.03	6.25	8.04	8.29
FCF per share	-0.36	-0.48	0.75	0.83	0.88	-1.09	0.75	1.24	1.05	1.78	2.05
Cash per share	3.49	1.86	1.82	0.28	3.58	1.71	0.51	0.57	0.6	0.99	1.17
Capex per share	1.8	1.59	1.12	0.7	0.36	0.27	0.31	0.36	0.35	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	7.28%	8.22%	20.8%	12.8%	7.28%	4.64%	4.25%	3.8%	3.44%	—	—
Capex / operating cash flow	46.6%	183.6%	36.9%	15.7%	-12.5%	16.1%	33.2%	46.8%	22%	—	—
Payout ratio	0.41%	20.7%	—	0%	0%	674.7%	367.1%	104.9%	0.58%	0.16%	0%
Dividend yield	—	—	—	0%	0%	59.2%	—	5.22%	0.06%	0.01%	3.72%

Yield

3.72%

trailing twelve months

Frequency

Annual

Last dividend

$0.70

ex-dividend Nov 14, 2023

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Nov 14, 2023	$0.70
Nov 3, 2022	$0.68
Sep 27, 2022	$0.83
Dec 13, 2021	$0.58
Nov 1, 2021	$7.01

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$361.5M	$409.4M	$275.4M	$499.2M	$368.6M	$423.4M	$236.2M	$524.2M	$400.2M	$541.4M	$272.6M	$615.9M
YoY change	+20.1%	+18.2%	+9.6%	+8.05%	+1.96%	+3.41%	-14.2%	+4.99%	+8.57%	+27.9%	+15.4%	+17.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	465M	320.6M	387.8M	61.6M	750.1M	324.8M	85.2M	89.4M	91.3M	146.7M
Receivables	494.6M	474.5M	373.9M	123.1M	138.7M	118M	133.1M	173.6M	189.1M	244.1M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	1.1B	1.3B	1.2B	916.1M	1.4B	544.3M	226.2M	224.4M	227.3M	318.3M
Property, plant & equipment	931.9M	710.4M	630.2M	811.2M	689.8M	555.5M	564M	555.9M	459.1M	567.1M
Goodwill & intangibles	6.7B	6.1B	5.7B	2.3B	1.6B	1.4B	1.5B	1.7B	1.4B	1.6B
Total assets	7.1B	7.4B	6.8B	6.5B	5B	2.2B	2B	2.1B	1.9B	2.2B
Accounts payable	86.7M	70.1M	65.4M	63.4M	41.1M	26.9M	42.8M	43.2M	35.3M	57.1M
Short-term debt	179M	121.9M	100.8M	90.2M	140.4M	87.2M	95.2M	110.3M	89.4M	110.6M
Total current liabilities	1.4B	1.4B	1.2B	1B	804.6M	371.9M	381.4M	453.2M	367.9M	472.9M
Long-term debt	3.6B	3B	2.6B	1.6B	1.4B	481.7M	552.8M	472.4M	338M	404.9M
Total liabilities	6.4B	5.8B	4.7B	3.7B	2.7B	1.1B	1.2B	1.2B	903.5M	1B
Shareholders' equity	688.3M	1.6B	2.1B	2.8B	2.3B	1.1B	775.8M	949.1M	958.5M	1.2B
Total debt	3.8B	3.1B	2.7B	1.7B	1.5B	568.9M	648M	582.7M	427.4M	515.5M
Net debt	3.3B	2.8B	2.3B	1.6B	764.7M	244.1M	562.8M	493.3M	336.1M	368.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	130.9M	89.4M	126.2M	128.8M	134.4M	91.3M	109.8M	135.3M	241M	146.7M	157.4M	161.7M
Receivables	159.7M	173.6M	159.1M	206.8M	178.1M	189.1M	141.2M	245.3M	189.7M	244.1M	173.5M	285.9M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	280M	224.4M	262.4M	289.1M	261M	227.3M	228.1M	323.5M	370.5M	318.3M	270.6M	365.4M
Property, plant & equipment	529.7M	555.9M	553.7M	505.8M	461.9M	459.1M	450.8M	463M	472M	567.1M	678.6M	696.2M
Goodwill & intangibles	1.6B	1.7B	1.7B	1.6B	1.5B	1.4B	1.4B	1.5B	1.6B	1.6B	1.6B	1.6B
Total assets	2.1B	2.1B	2.2B	2.1B	1.9B	1.9B	1.9B	2B	2.1B	2.2B	2.3B	2.4B
Accounts payable	33.3M	43.2M	35.8M	33.8M	44.2M	35.3M	47M	43.1M	55.7M	57.1M	45.7M	57.1M
Short-term debt	105.3M	110.3M	108.5M	84.4M	74.1M	89.4M	72.9M	94.2M	90.1M	110.6M	105M	103.3M
Total current liabilities	431.5M	453.2M	474.1M	381.7M	411.9M	367.9M	395.7M	433.1M	459.3M	472.9M	474.7M	513.5M
Long-term debt	420M	472.4M	519.5M	518.4M	426M	338M	361.3M	354.8M	348.3M	404.9M	617.7M	630.7M
Total liabilities	1.1B	1.2B	1.2B	1.1B	1B	903.5M	950.8M	983.2M	997M	1B	1.2B	1.3B
Shareholders' equity	965M	949.1M	932.6M	917.2M	896.7M	958.5M	907.4M	1.1B	1.1B	1.2B	1B	1.1B
Total debt	525.3M	582.7M	628M	602.8M	500.1M	427.4M	434.1M	449M	438.4M	515.5M	722.7M	734M
Net debt	394.4M	493.3M	501.8M	474M	365.7M	336.1M	324.4M	313.6M	197.4M	368.8M	565.4M	572.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	366.2M	93.8M	370.9M	937.7M	-618.7M	203.8M	69M	107.3M	296.4M	283.8M
Depreciation & amortization	264.9M	264.7M	240M	316M	223.7M	145.3M	88.5M	102.9M	105.2M	110.8M
Stock-based compensation	38.8M	64.8M	10.8M	13M	13.3M	10.2M	8.8M	7.1M	7.8M	13.3M
Change in working capital	-193.9M	-159.4M	18.3M	-252.6M	-52M	-215.4M	-15.2M	-42.2M	-124M	-166.6M
Operating cash flow	515.3M	149.3M	644.5M	991.6M	-598.4M	312.6M	159M	120.5M	245.6M	366.2M
Capital expenditure	-240.3M	-274.1M	-238M	-155.6M	-74.6M	-50.4M	-52.8M	-56.4M	-53.9M	—
Investing cash flow	297.3M	-284.7M	-260.3M	-149.3M	-89.2M	-106.6M	30.3M	-56.5M	-53.9M	—
Dividends paid	-1.5M	-19.4M	—	0	0	-1.4B	-253.2M	-112.5M	-1.7M	-455K
Share repurchases	—	0	0	-264.1M	-99.5M	-380.5M	-282.2M	0	-102.1M	-215.2M
Financing cash flow	-447.5M	138.2M	-410.1M	-1.7B	-298.4M	-2.7B	-474.8M	-204.2M	-167.2M	-222.6M
Net change in cash	365.1M	2.8M	-26M	-845.7M	-986M	-2.5B	-285.4M	-140.1M	24.5M	143.6M
Free cash flow	-48M	-81.9M	158.8M	184.1M	184.9M	-206.5M	125.5M	194.3M	160.8M	263.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	36M	41.7M	-10.8M	128.4M	85.3M	93.6M	-19.6M	97.4M	34.4M	171.5M	-21.6M	137.1M
Depreciation & amortization	26.8M	26.8M	27.8M	27.4M	25.6M	24.4M	24.2M	26.5M	29.1M	31M	31.7M	31.4M
Stock-based compensation	1.8M	2.2M	1.4M	2.9M	2.8M	766K	2.5M	3.5M	3.8M	3.6M	2.6M	4.1M
Change in working capital	39M	-14.3M	36.5M	-126.3M	36.1M	-70.3M	63.5M	-113.3M	36.1M	-152.9M	86.8M	-118.1M
Operating cash flow	104.4M	16M	59.7M	18.6M	114.1M	53.2M	79.1M	74.1M	141M	93.4M	61.9M	111M
Capital expenditure	-11.8M	-29.7M	-15.8M	-7.5M	-7.9M	-22.7M	-4.6M	—	—	—	—	—
Investing cash flow	-11.8M	-29.7M	-15.8M	-7.5M	-7.9M	-22.7M	-4.6M	—	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	-97K	-18K
Share repurchases	0	0	-32.9M	-38.5M	-28.6M	-2M	-39.5M	-32.1M	0	-143.6M	-108.2M	-77.7M
Financing cash flow	-76.2M	31.7M	18.4M	-26.7M	-103.6M	-53.5M	-34.7M	-39.6M	-23.5M	-125.1M	-41.4M	-81.4M
Net change in cash	16.4M	18M	62.2M	-15.6M	2.7M	-23M	39.9M	34.4M	117.5M	-31.8M	20.5M	29.6M
Free cash flow	96.7M	33.7M	17.3M	29.5M	110.7M	3.4M	53.2M	60.8M	122.8M	26.4M	53.6M	83.8M

Laureate Education, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement