Perdoceo Education Corporation (PRDO) 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 %
Q4 26	$0.8	$0.8	0.0%	—	—	—
Q3 26	$0.84	$0.9	+7.1%	—	—	—
Q2 26	$0.54	$0.59	+9.3%	—	—	—
Q1 26	$0.61	$0.65	+6.6%	—	—	—
Q4 25	$0.65	$0.67	+3.1%	—	—	—
Q3 25	$0.66	$0.7	+6.1%	—	—	—
Q2 25	$0.48	$0.5	+4.2%	—	—	—
Q1 25	$0.53	$0.59	+11.3%	—	—	—
Q4 24	$0.58	$0.6	+3.4%	—	—	—
Q3 24	$0.53	$0.6	+13.2%	—	—	—
Q2 24	$0.23	$0.27	+17.4%	—	—	—
Q1 24	$0.49	$0.64	+30.6%	—	—	—
Q4 23	$0.52	$0.61	+17.3%	—	—	—
Q3 23	$0.56	$0.58	+3.6%	—	—	—
Q2 23	$0.28	$0.31	+10.7%	—	—	—
Q1 23	$0.29	$0.39	+34.5%	—	—	—

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	—	$2.47	—	—	$846.1M	—
FY24	—	$2.25	—	—	$681.3M	—
FY23	—	$2.22	—	—	$710M	—
FY22	—	$1.41	—	—	$695.2M

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	$704.4M	$596.4M	$581.3M	$627.7M	$687.3M	$693M	$695.2M	$710M	$681.3M	$846.1M
YoY change	-16.9%	-15.3%	-2.54%	+7.98%	+9.5%	+0.83%	+0.31%	+2.13%	-4.05%	+24.2%

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	704.4M	596.4M	581.3M	627.7M	687.3M	693M	695.2M	710M	681.3M	846.1M
Cost of revenue	235.1M	143.3M	109.9M	101.9M	111.8M	108.7M	116.7M	130.3M	120.9M	197.5M
Gross profit	469.3M	453.1M	471.4M	525.8M	575.5M	584.3M	578.5M	579.7M	560.4M	648.6M
Gross margin	66.6%	76%	81.1%	83.8%	83.7%	84.3%	83.2%	81.6%	82.3%	76.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	445.7M	377.4M	358.7M	386.7M	369.7M	374.2M	384.5M	364.9M	333.3M	381.4M
Operating expenses	445.7M	377.4M	358.7M	386.7M	369.7M	374.2M	384.5M	364.9M	333.3M	381.4M
Operating income	869K	61.7M	103.3M	129.9M	191.1M	193.4M	174.2M	197.9M	212.4M	225.5M
Operating margin	0.12%	10.3%	17.8%	20.7%	27.8%	27.9%	25.1%	27.9%	31.2%	26.7%
Non-operating income, net	-32.9M	-26.9M	-31.8M	-43.1M	-48M	-44.3M	-46.4M	-25.4M	-39.4M	-28.5M
Pretax income	-31.4M	36.3M	74.4M	93M	146.8M	149.1M	134.3M	192.1M	201.4M	216.8M
Income tax	-16.6M	67.1M	18.6M	22.4M	22.5M	39.4M	38.4M	44.5M	53.9M	56.9M
Net income	-18.7M	-31.9M	55.2M	70M	124.3M	109.6M	95.9M	147.7M	147.6M	159.9M
Net margin	-2.66%	-5.35%	9.49%	11.1%	18.1%	15.8%	13.8%	20.8%	21.7%	18.9%
EBITDA	25.2M	78.3M	116.5M	145.8M	210M	211.1M	199M	256.9M	254.9M	294.4M
EPS	-0.27	-0.46	0.79	1	1.79	1.57	1.41	2.22	2.25	2.47
Diluted EPS	-0.27	-0.46	0.77	0.97	1.74	1.55	1.39	2.18	2.19	2.42

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	179.9M	147.9M	168.3M	166.7M	169.8M	176.4M	213M	209.6M	211.9M	211.6M	221.7M	213.4M
Cost of revenue	33.5M	30.2M	29.9M	27.5M	28.3M	35.2M	48.5M	50.2M	49.1M	49.6M	47.1M	50.9M
Gross profit	146.4M	117.7M	138.4M	139.2M	141.5M	141.2M	164.5M	159.3M	162.7M	162M	174.7M	162.5M
Gross margin	81.4%	79.6%	82.3%	83.5%	83.3%	80%	77.2%	76%	76.8%	76.6%	78.8%	76.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	84.5M	86.1M	80.9M	83.2M	85M	84.2M	93.4M	92.3M	93.8M	101.9M	96.5M	93.4M
Operating expenses	84.5M	86.1M	80.9M	83.2M	85M	84.2M	93.4M	92.3M	93.8M	101.9M	96.5M	93.4M
Operating income	58M	28.2M	54.5M	52.9M	53.5M	51.5M	59.3M	56.9M	58.9M	50.5M	68.9M	59.7M
Operating margin	32.3%	19.1%	32.4%	31.7%	31.5%	29.2%	27.8%	27.1%	27.8%	23.9%	31.1%	28%
Non-operating income, net	-15.1M	-12.1M	-8.1M	-7M	-8.8M	-15.5M	-7.6M	-5.5M	-7.9M	-7.6M	-5.7M	-4.7M
Pretax income	48.1M	22.4M	52.9M	53M	52.4M	43.2M	56.5M	56.2M	56M	48.1M	68.1M	60.2M
Income tax	6.8M	5.2M	13.4M	14.6M	14.1M	11.7M	12.8M	15.2M	16.2M	12.7M	14.2M	12.2M
Net income	41.3M	17.2M	39.4M	38.4M	38.3M	31.5M	43.7M	41M	39.9M	35.3M	54M	48M
Net margin	23%	11.6%	23.4%	23%	22.5%	17.8%	20.5%	19.6%	18.8%	16.7%	24.3%	22.5%
EBITDA	67.1M	38.2M	64.4M	63.1M	64.2M	63.1M	77.6M	73.5M	75.5M	67.9M	84.7M	75.9M
EPS	0.63	—	0.6	0.59	0.58	0.48	0.67	0.63	0.62	0.56	0.86	0.77
Diluted EPS	0.62	—	0.59	0.57	0.57	0.47	0.65	0.62	0.6	0.54	0.85	0.75

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	689.9M	832.9M	794.8M	1.3B	876.7M	823.5M	944.3M	1.2B	1.7B	1.9B	1.9B
Enterprise value	492.7M	658.6M	566M	1.1B	523.5M	374.2M	469.4M	591.1M	1.3B	1.4B	1.3B
Shares outstanding	68.4M	68.9M	69.6M	70.1M	69.4M	70M	67.9M	66.5M	65.6M	64.8M	64.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	14.4	18.4	7.06	7.51	9.85	7.9	11.8	11.9	11.1
P/S	0.98	1.4	1.37	2.05	1.28	1.19	1.36	1.64	2.55	2.25	2.22
P/B	2.15	2.81	2.24	2.99	1.58	1.27	1.3	1.39	1.81	1.95	1.85
EV/EBITDA	19.6	8.42	4.86	7.26	2.49	1.77	2.36	2.3	5.1	4.74	5.17
EV/Sales	0.7	1.1	0.97	1.69	0.76	0.54	0.68	0.83	1.91	1.65	1.5
Earnings yield	—	—	6.94%	5.43%	14.2%	13.3%	10.2%	12.7%	8.49%	8.41%	9.02%
FCF yield	0.34%	-3.38%	6.32%	5.27%	19.4%	21.9%	14.4%	9.05%	9.03%	11.4%	9.83%
PEG	—	—	—	—	—	—	—	—	—	—	0.5

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	66.6%	76%	81.1%	83.8%	83.7%	84.3%	83.2%	81.6%	82.3%	76.7%	76.1%
Operating margin	0.12%	10.3%	17.8%	20.7%	27.8%	27.9%	25.1%	27.9%	31.2%	26.7%	25.7%
Net margin	-2.66%	-5.35%	9.49%	11.1%	18.1%	15.8%	13.8%	20.8%	21.7%	18.9%	20.6%
ROE	-5.82%	-10.8%	15.5%	16.2%	22.4%	16.9%	13.2%	17.5%	15.4%	16.4%	17.6%
ROA	-3.34%	-7.13%	11.4%	11.7%	17.2%	12.9%	10%	14.7%	11.9%	12.8%	10%
ROIC	0.7%	0%	61.4%	49%	79.8%	70.8%	49.6%	57.3%	29.8%	35.5%	43.9%
Return on tangible assets	-5.09%	-12.4%	18.9%	17.1%	27.4%	23.9%	26.4%	32.6%	27.8%	28.5%	26.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.47	1.87	2.78	3.47	4.5	3.95	3.52	5.9	4.84	5.06	4.69
Quick ratio	1.46	1.86	2.77	3.47	4.49	3.95	3.51	5.85	4.82	5.03	4.68
Debt / equity	—	—	0	0.15	0.1	0.07	0.05	0.03	0.14	0.12	0.11
Debt / assets	—	—	0	0.11	0.07	0.05	0.04	0.03	0.11	0.09	0.09
Net debt / EBITDA	—	—	-1.96	-1.58	-1.68	-2.13	-2.39	-2.24	-1.72	-1.71	-2.04
Interest coverage	-52.7	81.4	110.2	558	880.2	163	336.7	476.5	329.6	34.5	38.5
Effective tax rate	0%	100%	25%	24.1%	15.3%	26.5%	28.6%	23.1%	26.7%	26.3%	23.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.3	8.65	8.35	8.96	9.9	9.9	10.2	10.7	10.4	13.1	13.6
EPS (basic)	-0.27	-0.46	0.79	1	1.79	1.57	1.41	2.22	2.25	2.47	2.47
EPS (diluted)	-0.27	-0.46	0.77	0.97	1.74	1.55	1.39	2.18	2.19	2.42	2.75
Book value per share	4.7	4.3	5.1	6.15	8.01	9.28	10.7	12.7	14.6	15	16.5
FCF per share	0.03	-0.41	0.72	0.97	2.45	2.58	2	1.59	2.39	3.34	3.43
Cash per share	2.88	2.53	3.29	4.2	5.85	7.06	7.49	9.07	8.67	9.6	11.7
Capex per share	0.06	0.09	0.1	0.07	0.14	0.15	0.19	0.1	0.07	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.59%	1.06%	1.16%	0.82%	1.42%	1.51%	1.82%	0.9%	0.68%	—	—
Capex / operating cash flow	-7.45%	20.1%	11.1%	21.1%	6.83%	6.96%	15.5%	6.06%	3.58%	—	—
Payout ratio	—	—	—	—	—	0%	0%	9.76%	21.5%	23%	21.8%
Dividend yield	—	—	—	—	—	0%	0%	1.24%	1.82%	1.94%	2.26%

Yield

2.26%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.17

ex-dividend Sep 1, 2026

Payout ratio

22%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.17
Jun 1, 2026	$0.15
Mar 2, 2026	$0.15
Nov 28, 2025	$0.15
Sep 2, 2025	$0.15
May 30, 2025	$0.13
Feb 28, 2025	$0.13
Dec 2, 2024	$0.13

Split history

Date	Ratio
Aug 25, 2003	2:1
Oct 1, 2001

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	$179.9M	$147.9M	$168.3M	$166.7M	$169.8M	$176.4M	$213M	$209.6M	$211.9M	$211.6M	$221.7M	$213.4M
YoY change	+6.83%	-16%	-14%	-10.6%	-5.61%	+19.3%	+26.6%	+25.7%	+24.8%	+20%	+4.1%	+1.8%

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	197.2M	174.3M	228.8M	294.2M	406.4M	494.2M	508.7M	603.1M	568.9M	622.2M
Receivables	22.8M	18.9M	28.8M	55M	44.7M	43M	42.6M	29.4M	22.8M	27.2M
Inventory	1.9M	1.1M	763K	576K	596K	904K	1.9M	5M	3.4M	4M
Total current assets	248.2M	210.7M	269.4M	360.4M	467.1M	554.5M	575.1M	655M	640.2M	696.9M
Property, plant & equipment	31.9M	24.7M	21.5M	67.9M	64M	55.9M	43M	31.3M	151.8M	84.4M
Goodwill & intangibles	191.7M	190.5M	190.5M	190.5M	267.7M	389.6M	594.2M	554.8M	706M	687.3M
Total assets	559.6M	447.1M	482.5M	599.1M	721.5M	847.4M	957.4M	1B	1.2B	1.2B
Accounts payable	10.1M	8.5M	9.2M	11.5M	13.3M	10.8M	13.5M	10.8M	12.8M	14.3M
Short-term debt	—	—	—	11.8M	9.8M	9.4M	6.6M	5.7M	13.3M	11.5M
Total current liabilities	169.2M	112.7M	97.1M	103.8M	103.8M	140.2M	163.4M	111M	132.2M	137.8M
Long-term debt	—	—	0	52.4M	43.4M	35.5M	27.3M	21.3M	118.3M	106.8M
Total liabilities	238.1M	150.9M	127.3M	167.9M	165.6M	197.3M	231.5M	165.9M	277.5M	275.3M
Shareholders' equity	321.5M	296.2M	355.2M	431.3M	555.9M	650.1M	725.8M	841.4M	959.5M	972.4M
Total debt	—	—	0	64.2M	53.2M	44.9M	33.8M	27M	131.5M	118.3M
Net debt	—	—	-32.4M	-44.5M	-52.5M	-275M	-75.6M	-91M	22.4M	7.4M

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	595.3M	603.1M	641.4M	674.1M	721.8M	568.9M	590.6M	638M	647.3M	622.2M	679.1M	734M
Receivables	41.3M	29.4M	41.9M	34.9M	32M	22.8M	45.7M	33.2M	41.3M	27.2M	39.6M	40M
Inventory	2.2M	5M	4.3M	4.5M	3.9M	3.4M	3.3M	2.6M	4M	4M	3.3M	2.6M
Total current assets	669.6M	655M	706M	732.5M	773.5M	640.2M	686M	721.2M	736.2M	696.9M	747.3M	802.6M
Property, plant & equipment	45.6M	31.3M	34.9M	35.5M	33.8M	151.8M	152M	147.3M	141.8M	84.4M	131.5M	126.1M
Goodwill & intangibles	562.3M	554.8M	552.5M	550.3M	548.1M	706M	697.5M	689.1M	680.6M	687.3M	678.9M	670.6M
Total assets	1B	1B	1.1B	1.1B	1.1B	1.2B	1.3B	1.3B	1.3B	1.2B	1.3B	1.3B
Accounts payable	14.5M	10.8M	11.8M	13.3M	13.6M	12.8M	13.4M	16.6M	20.2M	14.3M	18.7M	17.3M
Short-term debt	5.8M	5.7M	6M	5.4M	5M	13.3M	10.4M	10.7M	11.1M	11.5M	14M	14.2M
Total current liabilities	139.2M	111M	142.5M	134.9M	141.2M	132.2M	154M	168.8M	164.6M	137.8M	155.2M	171.1M
Long-term debt	22.9M	21.3M	16.7M	18.4M	17.3M	118.3M	117.3M	113.9M	110.4M	106.8M	103.2M	99.5M
Total liabilities	196.4M	165.9M	185.9M	178.7M	181.3M	277.5M	298.3M	309.8M	301.5M	275.3M	288.9M	301.1M
Shareholders' equity	829.7M	841.4M	866.1M	899.5M	935.4M	959.5M	970.3M	984.6M	997.9M	972.4M	999.9M	1B
Total debt	28.6M	27M	22.7M	23.8M	22.3M	131.5M	127.6M	124.5M	121.5M	118.3M	117.2M	113.8M
Net debt	-137M	-91M	-103.1M	-104M	-215.8M	22.4M	-4.4M	-47.5M	-38M	7.4M	-47.1M	-49.1M

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-18.7M	-31.9M	55.2M	70M	124.3M	109.6M	95.9M	147.7M	147.6M	159.9M
Depreciation & amortization	22.7M	14M	9.4M	9.1M	14.8M	16.8M	19.7M	16.9M	14.6M	41.6M
Stock-based compensation	3.2M	5M	5.6M	9.3M	13.4M	15M	8.8M	8.1M	10.2M	11.7M
Change in working capital	-44.6M	-19.8M	-27.6M	-85.4M	-29.9M	-6.5M	-42.3M	-70.5M	-45.9M	-31.3M
Operating cash flow	-55.4M	31.5M	60.5M	24.6M	142.9M	150.2M	81.3M	105.9M	129.2M	225.2M
Capital expenditure	-4.1M	-6.3M	-6.7M	-5.2M	-9.8M	-10.5M	-12.6M	-6.4M	-4.6M	—
Investing cash flow	-34.4M	-11.6M	-41.5M	7.7M	-165.9M	54.3M	-326.8M	-88.5M	-107.8M	-45.1M
Dividends paid	—	—	—	—	—	0	0	-14.4M	-31.7M	-36.9M
Share repurchases	—	0	0	-3.9M	-17.9M	-25.3M	-23.1M	-8.3M	-6.8M	-120.8M
Financing cash flow	-75.8M	1.5M	-1.7M	-4.8M	-13.1M	-29.9M	-27.7M	-23.4M	-41.1M	-171.1M
Net change in cash	-165.5M	21.4M	17.3M	27.4M	-36M	174.6M	-273.2M	-6M	-19.6M	9.1M
Free cash flow	2.3M	-28.1M	50.3M	67.9M	170.2M	180.7M	135.6M	105.6M	157M	216.7M

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	41.3M	17.2M	39.4M	38.4M	38.3M	31.5M	43.7M	41M	39.9M	35.3M	54M	48M
Depreciation & amortization	3.9M	3.4M	3M	3.1M	3.1M	5.5M	11.8M	10.1M	10M	9.7M	9.3M	9.3M
Stock-based compensation	2.3M	1.4M	2.3M	2.3M	2.8M	2.8M	2.9M	2.6M	3.2M	3.1M	3.2M	3M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	48.8M	21.6M	45.5M	43.6M	44.4M	41.6M	58.4M	78.8M	41.2M	40.1M	69.4M	74.6M
Capital expenditure	-1.2M	-1.6M	-1.2M	-824K	-975K	-1.6M	-1.7M	—	—	—	—	—
Investing cash flow	-721K	-57.3M	-30.8M	-29.3M	67.4M	22.7M	1.2M	-6.5M	-20.7M	-21.6M	-5.3M	-57.1M
Dividends paid	-7.2M	-7.2M	-7.2M	-7.4M	-8.5M	-8.5M	-9.2M	-8.5M	-9.7M	-9.5M	-10.3M	-9.4M
Share repurchases	0	-5.6M	-6.8M	0	0	0	-25.2M	-20.9M	-20.6M	-54.1M	-8.1M	-6.8M
Financing cash flow	-7.8M	-11M	-15.9M	-7.1M	-8.5M	-8.5M	-44.4M	-30.3M	-31.6M	-64.8M	-29.5M	-17.4M
Net change in cash	40.3M	-46.7M	-1.2M	7.1M	103.3M	55.9M	15.1M	41.9M	-11M	-46.3M	34.6M	134K
Free cash flow	31.4M	11.6M	53.3M	37.7M	50M	16M	63.4M	76M	39.4M	37.9M	67.6M	73.1M

Perdoceo Education Corporation 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

Split history

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