What is Lincoln Educational Services's earnings per share (EPS)?

Lincoln Educational Services (LINC) reported diluted earnings per share of $0.64 for fiscal year 2025. This represents a 100.0% 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.

Lincoln Educational Services (LINC) Financials

LINC

Trailing 12 months to June 30, 2026

Revenue $570.8M +22.0% YoY

Net Income $22.8M +59.6% YoY

EPS (Diluted) $0.73 +58.7% YoY

Free Cash Flow $24.5M +139.2% YoY

Market Cap $686.8M as of Oct 20, 2026

Price / Sales 1.2x on $570.8M revenue, trailing 12 months to June 30, 2026

Price / Earnings 30.1x on $22.8M net income, trailing 12 months to June 30, 2026

Price / Book 3.4x on $202.4M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 20, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LINC SEC filings page.

Lincoln Educational Services (LINC) reported $570.8M in revenue over the twelve months to Jun 30, 2026, up 22.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI LINC FY2025 2026-10-03

Revenue is scaling, but heavy reinvestment and tighter near-term liquidity leave cash after reinvestment behind earnings.

Between FY2023 and FY2025, operating cash flow increased from $25.6M to $59.3M, yet free cash flow remained negative. Capital spending rose from $40.7M to $86.6M, showing that stronger cash collection has been absorbed by expansion and asset investment rather than becoming discretionary cash.

Gross margin improved from 58.6% in FY2021 to 60.4% in FY2025, indicating that the underlying delivery economics held up as the business expanded. However, operating margin fell from 14.7% to 5.9%, showing that overhead growth consumed much of the gross-profit benefit.

FY2025 produced operating cash flow of $59.3M against capital spending of $86.6M, resulting in free cash flow of -$27.3M. The company reported no long-term debt, but its current ratio declined from 1.2x to 0.9x, meaning short-term obligations now exceed short-term assets and the balance sheet is being financed more heavily through current liabilities.

Financial Health Signals

Financial Health Score 51/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Lincoln Educational Services's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Lincoln Educational Services has an operating margin of 5.9%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is up from 3.5% the prior year.

Growth

Lincoln Educational Services's revenue surged 17.8% year-over-year to $518.2M, reflecting rapid business expansion. This strong growth earns a score of 79/100.

Leverage

Lincoln Educational Services carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Lincoln Educational Services's current ratio of 0.86 is below the typical benchmark, resulting in a score of 14/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

While Lincoln Educational Services generated $59.3M in operating cash flow, capex of $86.6M consumed most of it, leaving -$27.3M in free cash flow. This results in a low score of 15/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Lincoln Educational Services's ROE of 10.0% shows moderate profitability relative to equity, earning a score of 55/100. This is up from 5.5% the prior year.

Altman Z-Score Grey Zone

2.91

Lincoln Educational Services scores 2.91, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

Lincoln Educational Services passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.97x

For every $1 of reported earnings, Lincoln Educational Services generates $2.97 in operating cash flow ($59.3M OCF vs $20.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

8.93x

Lincoln Educational Services earns $8.93 in operating income for every $1 of interest expense ($30.3M vs $3.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$142.6M

YoY+22.4%

QoQ-1.0%

5Y CAGR+12.1%

10Y CAGR+7.7%

Lincoln Educational Services generated $142.6M in revenue in Q2 2026. This represents an increase of 22.4% from the same quarter a year earlier. Against the prior quarter it is down 1.0%.

EBITDA

$11.5M

YoY+44.3%

QoQ-15.5%

5Y CAGR+17.0%

Lincoln Educational Services's EBITDA was $11.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 44.3% from the same quarter a year earlier. Against the prior quarter it is down 15.5%.

Net Income

$1.9M

YoY+25.2%

QoQ-55.3%

5Y CAGR-4.3%

Lincoln Educational Services reported $1.9M in net income in Q2 2026. This represents an increase of 25.2% from the same quarter a year earlier. Against the prior quarter it is down 55.3%.

EPS (Diluted)

$0.06

YoY+20.0%

QoQ-57.1%

5Y CAGR0.0%

Lincoln Educational Services earned $0.06 per diluted share (EPS) in Q2 2026. This represents an increase of 20.0% from the same quarter a year earlier. Against the prior quarter it is down 57.1%.

Cash & Balance Sheet

Free Cash Flow

$7.6M

YoY+129.0%

QoQ+175.2%

5Y CAGR+1.4%

Lincoln Educational Services generated $7.6M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 129.0% from the same quarter a year earlier. Against the prior quarter it is up 175.2%.

Cash & Debt

$44.2M

YoY+164.5%

QoQ+164.7%

5Y CAGR+6.0%

10Y CAGR+15.0%

Lincoln Educational Services held $44.2M in cash against $26.0M in long-term debt as of Q2 2026.

Shares Outstanding

32M

YoY+0.3%

QoQ0.0%

5Y CAGR+3.3%

10Y CAGR+2.9%

Lincoln Educational Services had 32M shares outstanding in Q2 2026. This represents an increase of 0.3% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

58.2%

YoY-1.7pp

QoQ-1.3pp

5Y change0.0pp

Lincoln Educational Services's gross margin was 58.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.

Operating Margin

2.3%

YoY-0.2pp

QoQ-2.1pp

5Y change-2.0pp

Lincoln Educational Services's operating margin was 2.3% in Q2 2026, reflecting core business profitability. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.

Net Margin

1.4%

YoY0.0pp

QoQ-1.7pp

5Y change-1.7pp

10Y change+6.0pp

Lincoln Educational Services's net profit margin was 1.4% in Q2 2026, showing the share of revenue converted to profit. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 1.7 percentage points.

Return on Equity

1.0%

YoY+0.1pp

QoQ-1.2pp

5Y change-1.5pp

10Y change+5.3pp

Lincoln Educational Services's ROE was 1.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.

Capital Allocation

Capital Expenditures

$14.5M

YoY-45.0%

QoQ-0.8%

5Y CAGR+44.6%

10Y CAGR+30.0%

Lincoln Educational Services invested $14.5M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 45.0% from the same quarter a year earlier. Against the prior quarter it is down 0.8%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

LINC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LINC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$570.8M	$518.2M+17.8%	$440.1M+16.4%	$378.1M+8.6%	$348.3M+3.9%	$335.3M+14.4%	$293.1M+7.2%	$273.3M+3.9%	$263.2M+0.5%	$261.9M-8.3%	$285.6M-6.7%	$306.1M+40.4%	$218.0M+1.1%	$215.6M-43.3%	$380.2M-16.8%	$456.7M
Cost of Revenue	$229.2M	$205.4M+13.0%	$181.8M+12.0%	$162.3M+9.1%	$148.7M+7.1%	$138.9M+13.7%	$122.2M-1.1%	$123.5M-1.5%	$125.4M-3.1%	$129.4M-10.4%	$144.4M-4.8%	$151.6M+46.8%	$103.3M+0.8%	$102.5M-42.5%	$178.3M-9.3%	$196.6M
Gross Profit	$341.6M	$312.9M+21.1%	$258.3M+19.7%	$215.8M+8.1%	$199.5M+1.6%	$196.4M+14.9%	$170.9M+14.0%	$149.8M+8.7%	$137.8M+4.1%	$132.4M-6.2%	$141.1M-8.6%	$154.5M+34.6%	$114.7M+1.4%	$113.1M-44.0%	$201.9M-22.4%	$260.1M
SG&A Expenses	$307.8M	$282.9M+16.1%	$243.8M+16.6%	$209.1M+14.7%	$182.4M+8.0%	$168.9M+8.1%	$156.2M+7.6%	$145.2M+2.8%	$141.2M+1.8%	$138.8M-6.5%	$148.4M-2.2%	$151.8M+30.2%	$116.6M-0.2%	$116.8M-38.3%	$189.5M-12.6%	$216.8M
Operating Income	$33.7M	$30.3M+99.7%	$15.2M-54.5%	$33.4M+104.9%	$16.3M-67.0%	$49.3M+233.3%	$14.8M+182.2%	$5.2M+232.5%	-$4.0M+16.2%	-$4.7M+83.7%	-$28.9M-4207.1%	$704K+103.0%	-$23.7M-585.4%	-$3.5M+72.9%	-$12.7M-136.5%	$34.9M
EBITDA	N/A	$49.5M+86.6%	$26.5M-33.6%	$40.0M+76.5%	$22.6M-59.9%	$56.4M+154.3%	$22.2M+66.1%	$13.4M+198.9%	$4.5M+12.1%	$4.0M+122.3%	-$17.8M-217.3%	$15.2M+452.0%	-$4.3M-121.3%	$20.2M+43.5%	$14.1M-77.8%	$63.4M
Interest Expense	$3.8M	$3.4M+32.3%	$2.6M+639.2%	$347K+116.9%	$160K-92.1%	$2.0M+58.0%	$1.3M-57.0%	$3.0M+22.3%	$2.4M-65.9%	$7.1M+15.8%	$6.1M-23.5%	$8.0M+133.6%	$3.4M-19.6%	$4.3M-4.6%	$4.5M+2.4%	$4.4M
Income Tax	$6.3M	$6.1M+27.0%	$4.8M-50.0%	$9.6M+153.6%	$3.8M-69.7%	$12.5M+135.7%	-$35.1M-13181.7%	$268K+34.0%	$200K+173.0%	-$274K-237.0%	$200K-17.4%	$242K+116.4%	-$1.5M-107.5%	$19.6M+958.5%	-$2.3M-117.5%	$13.1M
Net Income	$22.8M	$20.0M+102.2%	$9.9M-62.0%	$26.0M+105.8%	$12.6M-63.6%	$34.7M-28.5%	$48.6M+2310.2%	$2.0M+117.5%	-$11.5M0.0%	-$11.5M+59.4%	-$28.3M-744.9%	-$3.4M+94.0%	-$56.1M-9.5%	-$51.3M-37.9%	-$37.2M-312.0%	$17.5M
EPS (Basic)	N/A	$0.65+103.1%	$0.32-62.8%	$0.86+138.9%	$0.36-65.4%	$1.04-30.2%	$1.49+1762.5%	$0.08+116.7%	-$0.480.0%	-$0.48+60.3%	-$1.21-764.3%	-$0.14+94.3%	-$2.46-7.9%	-$2.28-35.7%	-$1.68-310.0%	$0.80
EPS (Diluted)	$0.73	$0.64+100.0%	$0.32-62.4%	$0.85+136.1%	$0.36-65.4%	$1.04-30.2%	$1.49+1762.5%	$0.08+116.7%	-$0.480.0%	-$0.48+60.3%	-$1.21-764.3%	-$0.14+94.3%	-$2.46-7.9%	-$2.28-35.7%	-$1.68-312.7%	$0.79
Diluted Shares (Avg)	N/A	31,260+1.2%	30,891+1.1%	30,541-99.9%	26M+3.2%	25M+1.3%	25M+0.8%	25M+2.7%	24M0.0%	24M+1.9%	23M+1.2%	23M+1.5%	23M+1.3%	23M+1.4%	22M+0.2%	22M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$142.6M+22.4%	$144.0M+22.5%	$142.9M+19.7%	$141.4M+23.6%	$116.5M+13.2%	$117.5M+13.7%	$119.4M+16.4%	$114.4M+14.8%
Cost of Revenue	$59.6M+27.4%	$58.4M+23.2%	$53.9M+19.5%	$57.3M+19.2%	$46.8M+2.7%	$47.4M+10.2%	$45.1M+10.0%	$48.1M+11.4%
Gross Profit	$82.9M+19.0%	$85.6M+22.1%	$89.0M+19.8%	$84.1M+26.8%	$69.7M+21.5%	$70.1M+16.2%	$74.3M+20.7%	$66.4M+17.5%
SG&A Expenses	$79.6M+18.8%	$79.2M+18.3%	$71.2M+14.6%	$77.8M+22.8%	$67.1M+15.9%	$66.9M+10.6%	$62.1M+18.2%	$63.3M+16.3%
Operating Income	$3.3M+15.1%	$6.4M+87.7%	$17.7M+62.3%	$6.3M+8.0%	$2.9M+357.9%	$3.4M+845.2%	$10.9M+21.9%	$5.8M+191.7%
EBITDA	$11.5M+44.3%	$13.6M+101.6%	$22.6M+82.7%	$12.2M+29.3%	$8.0M+206.6%	$6.8M+215.6%	$12.3M+13.2%	$9.4M+153.3%
Interest Expense	$1.1M+30.1%	$837K+19.4%	$889K+32.3%	$991K+50.4%	$813K+21.9%	$701K+23.6%	$672K+146.2%	$659K+3038.1%
Income Tax	$315K-39.7%	$1.2M+41.0%	$3.2M-13.5%	$1.5M-10.7%	$522K+212.7%	$882K+880.5%	$3.7M+41.3%	$1.7M+112.2%
Net Income	$1.9M+25.2%	$4.4M+124.1%	$12.7M+85.9%	$3.8M-3.9%	$1.6M+327.9%	$1.9M+1008.4%	$6.8M+0.6%	$4.0M+91.5%
EPS (Basic)	$0.06+20.0%	$0.14+133.3%	$0.41+86.4%	$0.12-7.7%	$0.05+350.0%	$0.06+700.0%	$0.220.0%	$0.13+85.7%
EPS (Diluted)	$0.06+20.0%	$0.14+133.3%	$0.41+86.4%	$0.12-7.7%	$0.05+350.0%	$0.06	$0.220.0%	$0.13+85.7%
Diluted Shares (Avg)	31M+0.5%	31M+0.8%	N/A	31M+0.9%	31M+2.0%	31M	N/A	31M+1.1%

Not reported in any period shown, so not listed: R&D Expenses.

LINC Balance Sheet

LINC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$493.2M+13.0%	$436.6M+26.4%	$345.2M+18.4%	$291.6M-1.3%	$295.3M+20.4%	$245.2M+25.9%	$194.8M+33.4%	$146.0M-5.9%	$155.2M-4.9%	$163.2M-21.4%	$207.8M-2.8%	$213.7M-30.1%	$305.9M-11.8%	$346.8M-4.3%	$362.3M
Current Assets	$87.0M-21.8%	$111.3M-17.4%	$134.7M+18.0%	$114.1M-6.2%	$121.6M+64.0%	$74.2M+46.9%	$50.5M-11.6%	$57.1M+27.7%	$44.7M-30.7%	$64.5M-38.5%	$104.9M-7.3%	$113.1M+9.1%	$103.6M+4.1%	$99.5M+37.0%	$72.7M
Cash & Equivalents	$28.5M-51.9%	$59.3M-22.0%	$76.0M+64.9%	$46.1M-44.7%	$83.3M+119.1%	$38.0M+60.8%	$23.6M+34.6%	$17.6M+20.7%	$14.6M-30.9%	$21.1M-45.2%	$38.4M+212.4%	$12.3M-4.6%	$12.9M-79.1%	$61.7M+132.6%	$26.5M
Short-Term Investments	$0	$0	$0-100.0%	$14.8M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$4.0M+30.6%	$3.1M+3.6%	$2.9M+12.6%	$2.6M-3.8%	$2.7M+13.7%	$2.4M+48.9%	$1.6M+10.8%	$1.5M-12.4%	$1.7M-1.8%	$1.7M+35.8%	$1.2M-16.4%	$1.5M-34.5%	$2.3M-15.2%	$2.7M-12.3%	$3.1M
Accounts Receivable	$36.9M-14.1%	$43.0M+20.4%	$35.7M-4.0%	$37.2M+42.1%	$26.2M-12.9%	$30.0M+45.4%	$20.7M+10.6%	$18.7M+18.3%	$15.8M+2.7%	$15.4M+47.8%	$10.4M-23.1%	$13.5M-16.1%	$16.1M-7.2%	$17.4M-11.8%	$19.7M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$10.7M0.0%	$10.7M0.0%	$10.7M-26.1%	$14.5M0.0%	$14.5M0.0%	$14.5M0.0%	$14.5M0.0%	$14.5M0.0%	$14.5M0.0%	$14.5M-37.6%	$23.3M+4.9%	$22.2M-64.4%	$62.5M-4.7%	$65.5M-32.7%	$97.4M
Total Liabilities	$293.5M+13.6%	$258.3M+44.7%	$178.4M+21.6%	$146.7M-4.7%	$153.9M+8.3%	$142.1M+1.8%	$139.6M+31.5%	$106.2M-3.0%	$109.4M+1.0%	$108.3M-14.6%	$126.8M-3.0%	$130.7M-18.7%	$160.8M+8.4%	$148.3M+20.3%	$123.2M
Current Liabilities	$100.7M+11.6%	$90.2M+22.9%	$73.4M+33.4%	$55.0M-16.5%	$65.9M-1.4%	$66.8M+16.8%	$57.2M-11.4%	$64.6M+36.0%	$47.5M-28.3%	$66.3M-6.6%	$70.9M-15.1%	$83.5M+47.5%	$56.6M-3.4%	$58.6M-17.6%	$71.1M
Non-Current Liabilities	$192.8M+14.7%	$168.1M+60.0%	$105.0M+14.6%	$91.7M+4.1%	$88.0M+16.9%	$75.3M-8.6%	$82.4M+98.2%	$41.6M-32.8%	$61.9M+47.3%	$42.0M-24.8%	$55.8M+18.3%	$47.2M-54.7%	$104.2M+16.1%	$89.7M+72.2%	$52.1M
Long-Term Debt	$0	$0	N/A	N/A	$0-100.0%	$15.2M-52.5%	$32.0M-5.2%	$33.8M-35.8%	$52.6M+73.9%	$30.2M-5.9%	$32.1M	N/A	$54.5M-25.5%	$73.1M+102.9%	$36.0M
Total Equity	$199.7M+12.0%	$178.3M+6.9%	$166.8M+15.1%	$144.9M+11.9%	$129.4M+42.1%	$91.1M+111.1%	$43.1M+8.2%	$39.9M-13.0%	$45.8M-16.6%	$54.9M-32.2%	$81.0M-2.4%	$83.0M-42.8%	$145.2M-26.8%	$198.5M-17.0%	$239.0M
Retained Earnings	$99.2M+25.3%	$79.2M+14.3%	$69.3M+35.2%	$51.2M+29.0%	$39.7M+540.0%	$6.2M+114.7%	-$42.1M+4.6%	-$44.1M-17.4%	-$37.5M-44.1%	-$26.0M-1252.4%	$2.3M-59.7%	$5.6M-91.5%	$66.1M-46.7%	$124.1M-26.0%	$167.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$529.8M+18.4%	$486.7M+13.9%	$493.2M+13.0%	$466.9M+15.6%	$447.3M+22.1%	$427.4M+20.3%	$436.6M+26.4%	$404.0M+27.9%
Current Assets	$106.2M+33.4%	$76.4M-11.5%	$87.0M-21.8%	$77.3M-33.0%	$79.6M-33.3%	$86.4M-27.3%	$111.3M-17.4%	$115.4M-11.7%
Cash & Equivalents	$44.2M+164.5%	$16.7M-41.8%	$28.5M-51.9%	$13.5M-75.0%	$16.7M-75.1%	$28.7M-58.2%	$59.3M-22.0%	$54.0M+29.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0-100.0%
Inventory	$4.1M-9.5%	$2.5M+3.9%	$4.0M+30.6%	$3.1M+14.1%	$4.5M+92.1%	$2.4M-1.0%	$3.1M+3.6%	$2.7M-7.6%
Accounts Receivable	$45.9M-2.9%	$41.7M-11.7%	$36.9M-14.1%	$51.1M-3.7%	$47.3M+8.4%	$47.3M+16.8%	$43.0M+20.4%	$53.1M+31.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$10.7M0.0%	$10.7M0.0%	$10.7M0.0%	$10.7M0.0%	$10.7M0.0%	$10.7M0.0%	$10.7M0.0%	$10.7M0.0%
Total Liabilities	$327.4M+22.8%	$287.9M+15.3%	$293.5M+13.6%	$281.1M+20.1%	$266.6M+32.3%	$249.7M+30.9%	$258.3M+44.7%	$234.1M+47.6%
Current Liabilities	$111.0M+25.7%	$92.3M+11.1%	$100.7M+11.6%	$95.9M+30.5%	$88.3M+31.9%	$83.1M+38.8%	$90.2M+22.9%	$73.5M+11.1%
Non-Current Liabilities	$216.4M+21.3%	$195.6M+17.4%	$192.8M+14.7%	$185.2M+15.3%	$178.4M+32.5%	$166.6M+27.3%	$168.1M+60.0%	$160.6M+73.6%
Long-Term Debt	$26.0M+100.0%	$5.0M	$0	$8.0M	$13.0M	N/A	$0	N/A
Total Equity	$202.4M+12.0%	$198.8M+11.8%	$199.7M+12.0%	$185.9M+9.3%	$180.7M+9.6%	$177.8M+8.1%	$178.3M+6.9%	$170.0M+8.1%
Retained Earnings	$105.5M+27.6%	$103.5M+27.6%	$99.2M+25.3%	$86.5M+19.5%	$82.7M+20.9%	$81.1M+17.4%	$79.2M+14.3%	$72.3M+15.8%

LINC Cash Flow Statement

LINC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$94.0M	$59.3M+102.4%	$29.3M+14.7%	$25.6M+2797.7%	$882K-96.8%	$27.4M+16.9%	$23.5M+2277.0%	$988K+158.3%	-$1.7M+85.0%	-$11.3M-85.4%	-$6.1M-142.6%	$14.3M+19.3%	$12.0M+270.4%	$3.2M-79.7%	$16.0M-56.6%	$36.8M
Depreciation & Amortization	N/A	$19.2M+69.1%	$11.3M+71.8%	$6.6M+3.7%	$6.4M-10.9%	$7.1M-3.5%	$7.4M-8.8%	$8.1M-3.6%	$8.4M-3.2%	$8.7M-21.4%	$11.1M-23.7%	$14.5M-25.0%	$19.3M-18.4%	$23.7M-11.7%	$26.8M-5.7%	$28.5M
Stock-Based Compensation	N/A	$5.5M+18.6%	$4.6M-21.5%	$5.9M+89.5%	$3.1M+7.7%	$2.9M+71.4%	$1.7M+148.3%	$679K+30.1%	$522K-57.2%	$1.2M-15.3%	$1.4M+27.7%	$1.1M-57.0%	$2.6M-12.5%	$3.0M-31.0%	$4.3M+22.6%	$3.5M
Capital Expenditures	$69.5M	$86.6M+52.3%	$56.9M+39.7%	$40.7M+352.9%	$9.0M+19.3%	$7.5M+35.0%	$5.6M+3.6%	$5.4M+14.6%	$4.7M-1.2%	$4.8M+32.2%	$3.6M+62.1%	$2.2M-70.3%	$7.5M+14.3%	$6.5M-26.0%	$8.8M-76.8%	$38.1M
Free Cash Flow	$24.5M	-$27.3M+0.9%	-$27.6M-82.0%	-$15.1M-86.8%	-$8.1M-140.7%	$19.9M+11.2%	$17.9M+507.2%	-$4.4M+31.2%	-$6.4M+60.2%	-$16.1M-65.7%	-$9.7M-180.1%	$12.1M+166.4%	$4.5M+238.2%	-$3.3M-146.1%	$7.1M+657.9%	-$1.3M
Investing Cash Flow	-$69.5M	-$86.2M-83.5%	-$47.0M-737.4%	$7.4M+134.5%	-$21.4M-156.4%	$37.8M+790.3%	-$5.5M-14.0%	-$4.8M-104.8%	-$2.3M-121.9%	$10.7M+440.4%	-$3.1M-78.0%	-$1.8M+76.1%	-$7.4M-27.9%	-$5.8M+43.2%	-$10.2M+72.8%	-$37.4M
Financing Cash Flow	$3.0M	-$3.9M-16.1%	-$3.3M-13.1%	-$2.9M+76.5%	-$12.5M+37.3%	-$20.0M-7.5%	-$18.6M-435.1%	-$3.5M+23.8%	-$4.6M-161.3%	$7.5M+282.9%	-$4.1M-130.1%	$13.6M+360.4%	-$5.2M+88.8%	-$46.3M-257.5%	$29.4M+175.5%	-$38.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$4.3M-35.6%	$6.7M+4.1%	$6.4M-65.1%	$18.5M
Share Buybacks	N/A	N/A	$0-100.0%	$891K-90.6%	$9.4M	$0-100.0%	$245K+1261.1%	$18K-95.2%	$372K-15.5%	$440K+147.2%	$178K-4.3%	$186K-58.5%	$448K	N/A	$0	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$22.1M+7280.3%	$4.6M+154.5%	$43.5M+43.6%	$23.9M+326.0%	$299K-96.4%	-$8.4M+43.9%	$30.3M+38.1%	$5.6M+182.6%
Depreciation & Amortization	$8.2M+60.8%	$7.2M+115.7%	$6.5M+114.5%	$5.9M+63.9%	$5.1M+37.2%	$3.3M+28.7%	$3.0M+55.8%	$3.6M+108.8%
Stock-Based Compensation	N/A	$1.4M+19.8%	N/A	N/A	N/A	$1.2M+13.8%	N/A	N/A
Capital Expenditures	$14.5M-45.0%	$14.6M-26.5%	$18.5M-25.3%	$21.9M+12.8%	$26.4M+139.0%	$19.9M+1081.1%	$24.8M+106.2%	$19.4M+8.9%
Free Cash Flow	$7.6M+129.0%	-$10.1M+64.4%	$25.0M+352.4%	$2.0M+114.8%	-$26.1M-864.1%	-$28.3M-70.1%	$5.5M-44.4%	-$13.8M+44.0%
Investing Cash Flow	-$14.5M+44.6%	-$14.6M+25.5%	-$18.6M+25.1%	-$21.9M-13.9%	-$26.1M-136.7%	-$19.6M-344.5%	-$24.8M-300.9%	-$19.2M-7.9%
Financing Cash Flow	$19.9M+43.3%	-$1.8M+32.3%	-$9.9M-4484.7%	-$5.2M-1034.4%	$13.9M+17025.6%	-$2.6M+27.7%	-$216K	$561K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0

Not reported in any period shown, so not listed: Dividends Paid.

LINC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LINC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	60.4%+1.7pp	58.7%+1.6pp	57.1%-0.2pp	57.3%-1.3pp	58.6%+0.3pp	58.3%+3.5pp	54.8%+2.4pp	52.4%+1.8pp	50.6%+1.2pp	49.4%-1.0pp	50.5%-2.2pp	52.6%+0.2pp	52.5%-0.7pp	53.1%-3.8pp	57.0%
Operating Margin	5.9%+2.4pp	3.5%-5.4pp	8.8%+4.2pp	4.7%-10.0pp	14.7%+9.7pp	5.0%+3.1pp	1.9%+3.4pp	-1.5%+0.3pp	-1.8%+8.3pp	-10.1%-10.4pp	0.2%+11.1pp	-10.8%-9.3pp	-1.6%+1.8pp	-3.4%-11.0pp	7.6%
Net Margin	3.9%+1.6pp	2.3%-4.6pp	6.9%+3.3pp	3.6%-6.7pp	10.3%-6.2pp	16.6%+15.8pp	0.7%+5.1pp	-4.4%0.0pp	-4.4%+5.5pp	-9.9%-8.8pp	-1.1%+24.7pp	-25.7%-2.0pp	-23.8%-14.0pp	-9.8%-13.6pp	3.8%
Return on Equity	10.0%+4.5pp	5.5%-10.0pp	15.6%+6.9pp	8.7%-18.1pp	26.8%-26.5pp	53.3%+48.7pp	4.7%+33.5pp	-28.8%-3.7pp	-25.1%+26.5pp	-51.5%-47.4pp	-4.1%+63.5pp	-67.6%-32.3pp	-35.3%-16.6pp	-18.7%-26.1pp	7.3%
Return on Assets	4.1%+1.8pp	2.3%-5.3pp	7.5%+3.2pp	4.3%-7.4pp	11.8%-8.1pp	19.8%+18.8pp	1.0%+8.9pp	-7.9%-0.5pp	-7.4%+9.9pp	-17.3%-15.7pp	-1.6%+24.7pp	-26.3%-9.5pp	-16.8%-6.0pp	-10.7%-15.6pp	4.8%
Current Ratio	0.86-0.4x	1.23-0.6x	1.83-0.2x	2.07+0.2x	1.85+0.7x	1.11+0.2x	0.880.0x	0.88-0.1x	0.940.0x	0.97-0.5x	1.48+0.1x	1.35-0.5x	1.83+0.1x	1.70+0.7x	1.02
Debt-to-Equity	0.000.0x	0.00-1.1x	1.07+0.1x	1.01+1.0x	0.00-0.2x	0.17-0.6x	0.74-0.1x	0.85-0.3x	1.15+0.6x	0.55+0.2x	0.40-1.2x	1.57+1.2x	0.380.0x	0.37+0.2x	0.15
Asset Turnover	1.050.0x	1.01-0.1x	1.10-0.1x	1.19+0.1x	1.14-0.1x	1.20-0.2x	1.40-0.4x	1.80+0.1x	1.69-0.1x	1.75+0.3x	1.47+0.5x	1.02+0.3x	0.70-0.4x	1.10-0.2x	1.26
FCF Margin	-5.3%+1.0pp	-6.3%-2.3pp	-4.0%-1.7pp	-2.3%-8.3pp	5.9%-0.2pp	6.1%+7.7pp	-1.6%+0.8pp	-2.4%+3.7pp	-6.1%-2.7pp	-3.4%-7.4pp	4.0%+1.9pp	2.1%+3.6pp	-1.5%-3.4pp	1.9%+2.2pp	-0.3%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	58.2%-1.7pp	59.4%-0.2pp	62.3%+0.1pp	59.5%+1.5pp	59.8%+4.1pp	59.7%+1.3pp	62.2%+2.2pp	58.0%+1.3pp
Operating Margin	2.3%-0.2pp	4.5%+1.5pp	12.4%+3.3pp	4.5%-0.6pp	2.5%+3.6pp	2.9%+3.3pp	9.2%+0.4pp	5.1%+3.1pp
Net Margin	1.4%0.0pp	3.0%+1.4pp	8.9%+3.2pp	2.7%-0.8pp	1.3%+2.0pp	1.7%+1.9pp	5.7%-0.9pp	3.5%+1.4pp
Return on Equity	1.0%+0.1pp	2.2%+1.1pp	6.4%+2.5pp	2.0%-0.3pp	0.9%+1.3pp	1.1%+1.2pp	3.8%-0.2pp	2.3%+1.0pp
Return on Assets	0.4%0.0pp	0.9%+0.4pp	2.6%+1.0pp	0.8%-0.2pp	0.4%+0.5pp	0.4%+0.5pp	1.6%-0.4pp	1.0%+0.3pp
Current Ratio	0.96+0.1x	0.83-0.2x	0.86-0.4x	0.81-0.8x	0.90-0.9x	1.04-0.9x	1.23-0.6x	1.57-0.4x
Debt-to-Equity	0.13+0.1x	0.03-1.4x	0.000.0x	0.04-1.3x	0.07-1.2x	1.40+0.2x	0.00-1.1x	1.38+0.4x
Asset Turnover	0.270.0x	0.300.0x	0.290.0x	0.300.0x	0.260.0x	0.270.0x	0.270.0x	0.280.0x
FCF Margin	5.3%+27.7pp	-7.0%+17.1pp	17.5%+12.9pp	1.4%+13.5pp	-22.4%-19.8pp	-24.1%-8.0pp	4.6%-5.1pp	-12.0%+12.6pp

Note: The current ratio is below 1.0 (0.86), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Lincoln Educational Services LINC	FY2025	$518.2M	$20.0M	3.9%	$686.8M	51/100
American Public Education, Inc. APEI	FY2025	$648.9M	$31.6M	4.9%	$903.2M	57/100
QuantaSing Group Limited American QSG	FY2025	$380.5M	$50.1M	13.2%	$307.2M	51/100
Gaotu Techedu Inc. GOTU	FY2025	$879.0M	-$46.2M	-5.3%	$615.8M	47/100
Udemy, Inc. UDMY	FY2025	$789.8M	$3.8M	0.5%	$677.3M	37/100
KinderCare Learning Companies, Inc. KLC	FY2025	$2.7B	-$112.9M	-4.1%	$202.7M	30/100

Where Lincoln Educational Services Ranks

Frequently Asked Questions

What is Lincoln Educational Services's annual revenue?

Lincoln Educational Services (LINC) reported $518.2M in total revenue for fiscal year 2025. This represents a 17.8% 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 Lincoln Educational Services's revenue growing?

Lincoln Educational Services (LINC) revenue grew by 17.8% year-over-year, from $440.1M to $518.2M in fiscal year 2025.

Is Lincoln Educational Services profitable?

Yes, Lincoln Educational Services (LINC) reported a net income of $20.0M in fiscal year 2025, with a net profit margin of 3.9%.

What is Lincoln Educational Services's EBITDA?

Lincoln Educational Services (LINC) had EBITDA of $49.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Lincoln Educational Services have?

As of fiscal year 2025, Lincoln Educational Services (LINC) had $28.5M in cash and equivalents against $0 in long-term debt.

What is Lincoln Educational Services's gross margin?

Lincoln Educational Services (LINC) had a gross margin of 60.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Lincoln Educational Services's operating margin?

Lincoln Educational Services (LINC) had an operating margin of 5.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Lincoln Educational Services's net profit margin?

Lincoln Educational Services (LINC) had a net profit margin of 3.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Lincoln Educational Services's return on equity (ROE)?

Lincoln Educational Services (LINC) has a return on equity of 10.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lincoln Educational Services's free cash flow?

Lincoln Educational Services (LINC) recorded an outflow of $27.3M in free cash flow during fiscal year 2025. This represents a 0.9% 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 Lincoln Educational Services's operating cash flow?

Lincoln Educational Services (LINC) generated $59.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Lincoln Educational Services's total assets?

Lincoln Educational Services (LINC) had $493.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Lincoln Educational Services's capital expenditures?

Lincoln Educational Services (LINC) invested $86.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Lincoln Educational Services have outstanding?

Lincoln Educational Services (LINC) had 32M shares outstanding as of fiscal year 2025.

What is Lincoln Educational Services's current ratio?

Lincoln Educational Services (LINC) had a current ratio of 0.86 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Lincoln Educational Services's debt-to-equity ratio?

Lincoln Educational Services (LINC) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lincoln Educational Services's return on assets (ROA)?

Lincoln Educational Services (LINC) had a return on assets of 4.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lincoln Educational Services's P/E ratio?

Lincoln Educational Services (LINC) trades at 30.1x earnings, its market capitalization divided by net income of $22.8M net income, trailing 12 months to June 30, 2026. The market capitalization is $686.8M as of Oct 20, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lincoln Educational Services's price-to-sales ratio?

Lincoln Educational Services (LINC) trades at 1.2x sales, its market capitalization divided by revenue of $570.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $686.8M as of Oct 20, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lincoln Educational Services's Altman Z-Score?

Lincoln Educational Services (LINC) has an Altman Z-Score of 2.91, placing it in the Grey Zone (moderate 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 Lincoln Educational Services's Piotroski F-Score?

Lincoln Educational Services (LINC) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lincoln Educational Services's earnings high quality?

Lincoln Educational Services (LINC) has an earnings quality ratio of 2.97x, 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.

Can Lincoln Educational Services cover its interest payments?

Lincoln Educational Services (LINC) has an interest coverage ratio of 8.93x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Lincoln Educational Services?

Lincoln Educational Services (LINC) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.