American Public Education Inc

Consumer Defensive · Education & Training Services

46.10$ -0.4% vs. previous close Closing price · As of: Oct 7, 2026

Statements

Income Statement

American Public Education Inc (APEI) by the numbers: income statement, balance sheet and cash flow, by year or by quarter. In the most recent period (2025), "Revenue" came in at 649 million USD. Tick rows to compare them in a chart.

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Amounts Change % Common size % Per share

Last 12 Full history

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All figures in millions of USD.

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Income Statement APEI
Line item	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	18	23	28	40	69	107	149	198	260	314	329	350	328	313	299	298	286	322	419	606	601	625	649
Cost of Revenue	8.6	–	13	18	29	44	58	75	95	110	113	124	119	117	116	115	112	122	173	288	293	296	313
Gross Profit	9.2	23	15	22	40	64	91	123	165	203	217	226	209	196	183	182	174	200	246	318	308	329	336
Research & Development	–	–	–	–	–	–	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	–	–	–	–	–	–	–
Selling, General & Administrative	–	–	11	14	22	34	25	32	48	64	70	75	74	69	69	74	78	88	103	120	128	142	145
Total Operating Expenses	7.3	–	13	19	25	38	51	73	102	135	149	160	157	147	146	149	154	175	216	455	356	296	282
Operating Income	1.8	23	2.2	2.9	15	26	40	50	63	69	67	66	52	38	35	33	29	25	30	-137	-48	33	54
Interest Expense	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	13	0.6	4.3	18	4.5	2.1	4.2
Pre-Tax Income	1.9	–	2.4	3.2	16	26	40	50	63	69	68	66	52	38	35	35	17	26	25	-151	-58	31	44
Income Tax Expense	0.6	-2.3	1.1	0.8	6.8	10	16	20	22	27	26	25	20	15	11	9.3	5.2	7.0	7.5	-36	-11	10	12
Net Income	0.2	2.3	1.1	1.8	8.8	16	24	30	41	42	42	41	32	24	21	26	10	19	18	-115	-47	16	32
EBITDA	2.1	23	3.5	8.0	18	30	45	57	72	80	81	82	74	68	56	52	44	39	47	-101	-26	52	64

Data as of: October 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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Income Statement

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