American Public Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
American Public has an operating margin of 5.3%, meaning the company retains $5 of operating profit per $100 of revenue. This below-average margin results in a low score of 26/100, suggesting thin profitability after operating expenses. This is up from -8.0% the prior year.
American Public's revenue grew a modest 4.0% year-over-year to $624.6M. This slow but positive growth earns a score of 40/100.
American Public carries a low D/E ratio of 0.31, meaning only $0.31 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.29, American Public holds $3.29 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
American Public's free cash flow margin of 4.5% results in a low score of 22/100. Capital expenditures of $21.1M absorb a large share of operating cash flow.
American Public generates a 5.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 21/100.
American Public scores 3.38, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($806.4M) relative to total liabilities ($266.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
American Public passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, American Public generates $3.03 in operating cash flow ($48.9M OCF vs $16.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows American Public (APEI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
American Public generated $624.6M in revenue in fiscal year 2024. This represents an increase of 4.0% from the prior year.
American Public's EBITDA was $52.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 355.6% from the prior year.
American Public generated $27.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 12.1% from the prior year.
American Public reported $16.1M in net income in fiscal year 2024. This represents an increase of 134.1% from the prior year.
American Public earned $0.55 per diluted share (EPS) in fiscal year 2024. This represents an increase of 118.8% from the prior year.
American Public held $131.9M in cash against $93.4M in long-term debt as of fiscal year 2024.
American Public had 18M shares outstanding in fiscal year 2024. This represents an increase of 0.6% from the prior year.
American Public's gross margin was 52.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the prior year.
American Public's operating margin was 5.3% in fiscal year 2024, reflecting core business profitability. This is up 13.3 percentage points from the prior year.
American Public's net profit margin was 2.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 10.5 percentage points from the prior year.
American Public's ROE was 5.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
American Public spent $4.2M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 60.5% from the prior year.
American Public invested $21.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 51.7% from the prior year.
APEI Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $163.2M+0.3% | $162.8M-1.1% | $164.6M+0.3% | $164.1M+7.2% | $153.1M+0.1% | $152.9M-1.0% | $154.4M+1.1% | $152.8M |
| Cost of Revenue | $74.7M-4.7% | $78.4M+4.6% | $74.9M+4.6% | $71.7M-5.0% | $75.4M-1.1% | $76.2M+5.2% | $72.4M+2.4% | $70.7M |
| Gross Profit | $88.5M+4.9% | $84.3M-5.9% | $89.6M-3.1% | $92.4M+18.9% | $77.7M+1.4% | $76.7M-6.5% | $82.0M-0.1% | $82.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $34.7M-9.1% | $38.1M+4.8% | $36.4M+0.5% | $36.2M+3.4% | $35.0M+1.8% | $34.4M-5.1% | $36.3M+15.8% | $31.3M |
| Operating Income | $9.7M+38.0% | $7.0M-42.6% | $12.2M-43.1% | $21.5M+421.6% | $4.1M+86.0% | $2.2M-57.2% | $5.2M-67.5% | $15.9M |
| Interest Expense | $2.5M+4.2% | $2.4M0.0% | $2.4M | N/A | $1.9M0.0% | $1.9M0.0% | $1.9M | N/A |
| Income Tax | $3.1M+115.9% | $1.4M-42.4% | $2.5M-69.1% | $8.0M+546.1% | $1.2M+7825.0% | -$16K-101.3% | $1.2M-42.9% | $2.1M |
| Net Income | $5.6M+23.7% | $4.5M-49.4% | $8.9M-22.7% | $11.5M+408.6% | $2.3M+509.7% | $371K-28.1% | $516K-95.5% | $11.5M |
| EPS (Diluted) | $0.30+1600.0% | $-0.02-104.9% | $0.41-34.9% | $0.63+1475.0% | $0.04+166.7% | $-0.060.0% | $-0.06-109.4% | $0.64 |
APEI Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $525.3M-2.2% | $537.4M-7.1% | $578.7M+1.5% | $570.1M+0.1% | $569.6M+1.6% | $560.7M+0.3% | $559.0M+0.3% | $557.4M |
| Current Assets | $259.1M+10.3% | $235.0M-13.8% | $272.5M+4.6% | $260.6M+10.2% | $236.5M+5.8% | $223.5M-0.1% | $223.8M+2.9% | $217.4M |
| Cash & Equivalents | $191.3M+9.4% | $174.9M+8.3% | $161.6M+22.5% | $131.9M-2.6% | $135.4M+4.3% | $129.8M+3.6% | $125.3M+7.4% | $116.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $43.9M+16.9% | $37.6M-10.3% | $41.9M-33.0% | $62.5M+46.5% | $42.6M+9.8% | $38.8M-12.9% | $44.6M-12.6% | $51.0M |
| Goodwill | $59.6M0.0% | $59.6M0.0% | $59.6M0.0% | $59.6M0.0% | $59.6M0.0% | $59.6M0.0% | $59.6M0.0% | $59.6M |
| Total Liabilities | $246.0M-7.2% | $265.1M-1.3% | $268.6M+0.9% | $266.2M-4.6% | $279.2M+2.6% | $272.0M+0.6% | $270.5M+1.9% | $265.4M |
| Current Liabilities | $91.4M+10.2% | $82.9M-0.6% | $83.4M+5.4% | $79.2M-11.5% | $89.4M+13.4% | $78.9M-0.9% | $79.6M+7.6% | $74.0M |
| Long-Term Debt | $94.4M+0.3% | $94.1M+0.3% | $93.7M+0.3% | $93.4M+0.4% | $93.1M+0.4% | $92.8M-2.4% | $95.0M+0.4% | $94.7M |
| Total Equity | $279.3M+2.6% | $272.2M-12.2% | $310.0M+2.0% | $303.9M+4.6% | $290.4M+0.6% | $288.7M+0.1% | $288.5M-1.2% | $292.0M |
| Retained Earnings | -$29.1M+16.0% | -$34.7M-0.9% | -$34.3M+17.8% | -$41.8M+21.6% | -$53.3M+1.4% | -$54.0M-2.2% | -$52.9M-7.7% | -$49.1M |
APEI Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $21.7M+46.6% | $14.8M-60.0% | $37.0M+2213.8% | $1.6M-88.6% | $14.1M+13.0% | $12.5M-40.0% | $20.7M+760.0% | -$3.1M |
| Capital Expenditures | $4.2M+13.5% | $3.7M-5.2% | $3.9M+16.3% | $3.4M-46.9% | $6.3M+21.4% | $5.2M-16.4% | $6.2M+41.6% | $4.4M |
| Free Cash Flow | $17.5M+57.6% | $11.1M-66.4% | $33.1M+1985.8% | -$1.8M-122.6% | $7.8M+7.0% | $7.3M-50.0% | $14.5M+292.8% | -$7.5M |
| Investing Cash Flow | -$4.9M-126.1% | $18.8M+651.2% | -$3.4M-1.4% | -$3.4M+46.9% | -$6.3M-21.4% | -$5.2M+16.4% | -$6.2M-41.6% | -$4.4M |
| Financing Cash Flow | -$248K+99.4% | -$44.5M-783.5% | -$5.0M-224.2% | -$1.6M+8.9% | -$1.7M+60.0% | -$4.3M+24.8% | -$5.7M-72.9% | -$3.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $206K+586.7% | $30K-99.2% | $3.7M+28307.7% | $13K-85.9% | $92K+268.0% | $25K-99.4% | $4.1M+140.1% | $1.7M |
APEI Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.2%+2.4pp | 51.8%-2.6pp | 54.5%-1.9pp | 56.3%+5.6pp | 50.8%+0.6pp | 50.1%-3.0pp | 53.1%-0.6pp | 53.7% |
| Operating Margin | 5.9%+1.6pp | 4.3%-3.1pp | 7.4%-5.7pp | 13.1%+10.4pp | 2.7%+1.3pp | 1.5%-1.9pp | 3.4%-7.1pp | 10.4% |
| Net Margin | 3.4%+0.6pp | 2.8%-2.6pp | 5.4%-1.6pp | 7.0%+5.5pp | 1.5%+1.2pp | 0.2%-0.1pp | 0.3%-7.2pp | 7.5% |
| Return on Equity | 2.0%+0.3pp | 1.7%-1.2pp | 2.9%-0.9pp | 3.8%+3.0pp | 0.8%+0.7pp | 0.1%-0.1pp | 0.2%-3.8pp | 3.9% |
| Return on Assets | 1.1%+0.2pp | 0.8%-0.7pp | 1.5%-0.5pp | 2.0%+1.6pp | 0.4%+0.3pp | 0.1%-0.0pp | 0.1%-2.0pp | 2.1% |
| Current Ratio | 2.840.0 | 2.83-0.4 | 3.27-0.0 | 3.29+0.6 | 2.65-0.2 | 2.83+0.0 | 2.81-0.1 | 2.94 |
| Debt-to-Equity | 0.340.0 | 0.35+0.0 | 0.300.0 | 0.31-0.0 | 0.320.0 | 0.320.0 | 0.330.0 | 0.32 |
| FCF Margin | 10.7%+3.9pp | 6.8%-13.3pp | 20.1%+21.2pp | -1.1%-6.1pp | 5.1%+0.3pp | 4.8%-4.7pp | 9.4%+14.3pp | -4.9% |
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Frequently Asked Questions
What is American Public's annual revenue?
American Public (APEI) reported $624.6M in total revenue for fiscal year 2024. This represents a 4.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is American Public's revenue growing?
American Public (APEI) revenue grew by 4% year-over-year, from $600.5M to $624.6M in fiscal year 2024.
Is American Public profitable?
Yes, American Public (APEI) reported a net income of $16.1M in fiscal year 2024, with a net profit margin of 2.6%.
What is American Public's earnings per share (EPS)?
American Public (APEI) reported diluted earnings per share of $0.55 for fiscal year 2024. This represents a 118.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is American Public's EBITDA?
American Public (APEI) had EBITDA of $52.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does American Public have?
As of fiscal year 2024, American Public (APEI) had $131.9M in cash and equivalents against $93.4M in long-term debt.
What is American Public's gross margin?
American Public (APEI) had a gross margin of 52.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is American Public's operating margin?
American Public (APEI) had an operating margin of 5.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is American Public's net profit margin?
American Public (APEI) had a net profit margin of 2.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is American Public's return on equity (ROE)?
American Public (APEI) has a return on equity of 5.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is American Public's free cash flow?
American Public (APEI) generated $27.8M in free cash flow during fiscal year 2024. This represents a -12.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is American Public's operating cash flow?
American Public (APEI) generated $48.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are American Public's total assets?
American Public (APEI) had $570.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are American Public's capital expenditures?
American Public (APEI) invested $21.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does American Public buy back shares?
Yes, American Public (APEI) spent $4.2M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does American Public have outstanding?
American Public (APEI) had 18M shares outstanding as of fiscal year 2024.
What is American Public's current ratio?
American Public (APEI) had a current ratio of 3.29 as of fiscal year 2024, which is generally considered healthy.
What is American Public's debt-to-equity ratio?
American Public (APEI) had a debt-to-equity ratio of 0.31 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is American Public's return on assets (ROA)?
American Public (APEI) had a return on assets of 2.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is American Public's Altman Z-Score?
American Public (APEI) has an Altman Z-Score of 3.38, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is American Public's Piotroski F-Score?
American Public (APEI) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are American Public's earnings high quality?
American Public (APEI) has an earnings quality ratio of 3.03x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is American Public?
American Public (APEI) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.