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LINC - Lincoln Educational Services Corporation

NASDAQ -> Consumer Defensive -> Education & Training Services
Parsippany, United States
Type: Equity

LINC price evolution
LINC
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Current assets
Cash $80.27 $45.99 $70.57 $44.49
Short term investments $24.34 $24.34 $14.76
Net receivables $53.2 $56.96 $47.39 $49.5
Inventory $2.95 $2.94 $2.56 $2.64
Total current assets $134.66 $130.68 $137.49 $107.59
Long term investments
Property, plant & equipment $156.58 $131.27 $121.47 $118.28
Goodwill & intangible assets $10.74 $10.74 $10.74 $14.54
Total noncurrent assets $210.59 $185.1 $173.93 $173.51
Total investments $24.34 $24.34 $14.76
Total assets $345.25 $315.78 $311.42 $281.09
Current liabilities
Accounts payable $18.15 $17.58 $16.84 $12.94
Deferred revenue $26.91 $21.84 $22.93 $20.98
Short long term debt $11.81 $10.92 $10.41 $10.06
Total current liabilities $73.41 $66.1 $68.66 $54.57
Long term debt $104.98 $91.89 $87.65 $90.57
Total noncurrent liabilities $105.03 $92.51 $88.29 $91.27
Total debt $116.79 $102.81 $98.06 $100.62
Total liabilities $178.44 $158.61 $156.95 $145.84
Shareholders' equity
Retained earnings $69.28 $62.49 $60.42 $43.17
Other shareholder equity -$0.04 -$1.04 -$1.01 -$1.01
Total shareholder equity $166.8 $157.16 $154.47 $135.25
(in millions $) 31 Dec 2023 31 Jan 2023 31 Dec 2021 31 Dec 2020
Current assets
Cash $80.27 $50.29 $83.31 $38.03
Short term investments $14.76
Net receivables $53.2 $37.17 $46.19 $46.48
Inventory $2.95 $2.62 $2.72 $2.39
Total current assets $134.66 $114.14 $121.63 $74.16
Long term investments
Property, plant & equipment $156.58 $117.04 $114.61 $103.58
Goodwill & intangible assets $10.74 $14.54 $14.54 $14.54
Total noncurrent assets $210.59 $177.43 $173.67 $171.03
Total investments $14.76
Total assets $345.25 $291.57 $295.3 $245.19
Current liabilities
Accounts payable $18.15 $10.5 $12.3 $15.68
Deferred revenue $26.91 $24.15 $25.41 $23.45
Short long term debt $11.81 $9.63 $11.48 $10.5
Total current liabilities $73.41 $55.02 $65.88 $66.84
Long term debt $104.98 $91 $86.41 $67.91
Total noncurrent liabilities $105.03 $91.67 $88.02 $75.3
Total debt $116.79 $100.63 $97.89 $78.42
Total liabilities $178.44 $146.69 $153.9 $142.14
Shareholders' equity
Retained earnings $69.28 $51.23 $39.7 $6.2
Other shareholder equity -$0.04 -$0.96 -$1.24 -$4.17
Total shareholder equity $166.8 $144.88 $129.42 $91.07
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Revenue
Total revenue $102.52 $99.62 $88.65 $87.28
Cost of revenue $41.02 $43.13 $40.03 $38.09
Gross Profit $61.5 $56.49 $48.62 $49.19
Operating activities
Research & development
Selling, general & administrative $52.53 $54.48 $51.81 $50.31
Total operating expenses $52.54 $54.49 $25.1 $50.31
Operating income $8.96 $2 $23.52 -$1.12
Income from continuing operations
EBIT $9.7 $2.87 $24.06 -$0.65
Income tax expense $2.63 $0.79 $6.78 -$0.56
Interest expense $0.27 $0.02 $0.03 $0.03
Net income
Net income $6.79 $2.06 $17.25 -$0.11
Income (for common shares) $6.79 $2.06 $17.25 -$0.11
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Revenue
Total revenue $378.07 $348.29 $335.34 $293.1
Cost of revenue $162.28 $148.75 $138.93 $122.2
Gross Profit $215.79 $199.54 $196.41 $170.9
Operating activities
Research & development
Selling, general & administrative $209.13 $182.39 $168.92 $156.2
Total operating expenses $182.44 $183.26 $147.14 $156.12
Operating income $33.36 $16.28 $49.26 $14.78
Income from continuing operations
EBIT $35.99 $16.6 $49.26 $14.78
Income tax expense $9.64 $3.8 $12.53 -$35.06
Interest expense $0.35 $0.16 $2.02 $1.27
Net income
Net income $26 $12.63 $34.72 $48.56
Income (for common shares) $26 $11.52 $33.5 $47.19
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Net income $6.79 $2.06 $17.25 -$0.11
Operating activities
Depreciation $2.12 $1.72 $1.68 $1.25
Business acquisitions & disposals
Stock-based compensation $1.84 $0.66 $2.58 $0.81
Total cash flows from operations $21.95 -$6.79 $10.62 -$0.21
Investing activities
Capital expenditures -$12.01 -$17.78 $25.66 -$3.25
Investments $24.34 -$9.59
Total cash flows from investing $12.33 -$17.78 $16.07 -$3.25
Financing activities
Dividends paid
Sale and purchase of stock -$0.34 -$0.56
Net borrowings
Total cash flows from financing -$0.61 -$2.33
Effect of exchange rate
Change in cash and equivalents $34.28 -$24.57 $26.08 -$5.8
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Net income $26 $12.63 $34.72 $48.56
Operating activities
Depreciation $6.77 $6.36 $7.14 $7.4
Business acquisitions & disposals
Stock-based compensation $5.89 $3.11 $2.89 $1.69
Total cash flows from operations $25.56 $0.88 $27.45 $23.48
Investing activities
Capital expenditures -$7.39 -$6.6 $37.85 -$5.58
Investments $14.76 -$14.76
Total cash flows from investing $7.37 -$21.35 $37.85 -$5.48
Financing activities
Dividends paid
Sale and purchase of stock -$0.89 -$9.45
Net borrowings -$17.83 -$17
Total cash flows from financing -$2.94 -$12.55 -$20.01 -$18.62
Effect of exchange rate
Change in cash and equivalents $29.98 -$33.02 $45.28 -$0.62
Fundamentals
Market cap $323.94M
Enterprise value $360.46M
Shares outstanding 31.36M
Revenue $378.07M
EBITDA $42.76M
EBIT $35.98M
Net Income $26.00M
Revenue Q/Q 11.71%
Revenue Y/Y 8.55%
P/E ratio 12.46
EV/Sales 0.95
EV/EBITDA 8.43
EV/EBIT 10.02
P/S ratio 0.86
P/B ratio 1.94
Book/Share 5.32
Cash/Share 2.56
EPS $0.83
ROA 8.30%
ROE 16.94%
Debt/Equity 1.07
Net debt/EBITDA 2.30
Current ratio 1.83
Quick ratio 1.79