American Public Education, Inc.
Rank #42HypergrowthAPEI · Nasdaq · Consumer Defensive
American Public Education, Inc. (APEI) — Rank #42 by gross profitability (GP/assets 0.65) · ROE 10.0% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0001201792 · all metrics point-in-time as of the filing date.
About
American Public Education, Inc., together with its subsidiaries, provides online and campus-based postsecondary education services in the United States.
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It operates through three segments: American Public University System, Rasmussen University, and Hondros College of Nursing. The company offers 181 degree programs, 110 certificate programs, and four diploma programs in various fields of study, including public service-focused fields, such as nursing, national security, military studies, intelligence, and homeland security, as well as traditional academic fields comprising business, health science, information technology, justice studies, education, and liberal arts; and career learning and leadership training in-person and online to the federal workforce. It also provides nursing-and health sciences-focused postsecondary education; and pre-licensure nursing education services focusing on a diploma in practical nursing and associate degree in nursing, as well as a bachelor of science in nursing.
The company was incorporated in 1991 and is headquartered in Charles Town, West Virginia.
- Industry
- Education & Training Services
- Sector
- Consumer Defensive
- State
- DE
- Filer Category
- Accelerated filer
- Fiscal Year End
- December 31
- Website
- apei.com
Financials
Each fiscal year is read as-of that year’s own 10-K filing, so nothing restated after the fact leaks backwards. Line items this filer never tagged are omitted. Hover or tap a badge for the diagnostic behind it.
| Fiscal year end | 2021-12-31filed 2022-03-02 | 2020-12-31filed 2021-03-09 | 2019-12-31filed 2020-03-10 | 2018-12-31filed 2019-03-12 |
|---|---|---|---|---|
| Operating | ||||
| Depreciation & amortization | 17.8 | 13.0 | 15.6 | 17.5 |
| Stock-based compensation | 7.7 | 7.1 | 6.0 | 7.2 |
| Change in receivables | 7.6 | 6.3 | (2.7) | 6.9 |
| Change in payables | 8.0 | (0.1) | (5.6) | 0.3 |
| Operating cash flow | 16.3 | 44.8 | 38.4 | 44.2 |
| Investing | ||||
| Capital expenditures | 11.8 | 4.9 | 7.3 | 9.4 |
| Investing cash flow | (336.7) | (4.2) | (7.3) | (9.4) |
| Financing | ||||
| Debt issued | 175.0 | — | — | — |
| Debt repaid | 2.2 | — | — | — |
| Share repurchases | 3.0 | 15.7 | 40.5 | 1.8 |
| Dividends paid | — | — | — | — |
| Financing cash flow | 242.3 | (15.7) | (40.5) | (1.8) |
| Summary | ||||
| Free cash flow | 4.4 | 39.9 | 31.1 | 34.7 |
Figures are as originally filed with the SEC (point-in-time), not restated, so they can differ slightly from sites that show later-restated numbers. Why point-in-time?