LINCOLN EDUCATIONAL SERVICES CORP — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that LINCOLN EDUCATIONAL SERVICES CORP filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2017 | Dec 31, 2017 | $261.85M | Mar 9, 2018 |
| FY2017 | Dec 31, 2016 | $285.56M | Mar 9, 2018 |
| FY2017 | Dec 31, 2015 | $306.10M | Mar 9, 2018 |
| FY2016 | Dec 31, 2014 | $218.04M | Mar 10, 2017 |
| FY2015 | Dec 31, 2013 | $215.60M | Mar 10, 2016 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $518.24M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $440.06M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $378.07M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $348.29M | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | $335.34M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $293.10M | Mar 3, 2022 |
| FY2019 | Dec 31, 2019 | $73.92M | Mar 6, 2020 |
| FY2019 | Sep 30, 2019 | $72.59M | Mar 6, 2020 |
| FY2019 | Jun 30, 2019 | $63.57M | Mar 6, 2020 |
| FY2019 | Mar 31, 2019 | $63.26M | Mar 6, 2020 |
Revenue (Net Sales)
Net sales revenue — gross revenue less returns, allowances, and discounts. Used by many manufacturers and retailers as the primary top-line figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2017 | Dec 31, 2017 | $67.40M | Mar 9, 2018 |
| FY2017 | Sep 30, 2017 | $67.31M | Mar 9, 2018 |
| FY2017 | Jun 30, 2017 | $61.87M | Mar 9, 2018 |
| FY2017 | Mar 31, 2017 | $65.28M | Mar 9, 2018 |
| FY2017 | Dec 31, 2016 | $72.57M | Mar 9, 2018 |
| FY2017 | Sep 30, 2016 | $74.27M | Mar 9, 2018 |
| FY2017 | Jun 30, 2016 | $68.08M | Mar 9, 2018 |
| FY2017 | Mar 31, 2016 | $70.64M | Mar 9, 2018 |
| FY2016 | Dec 31, 2015 | $52.55M | Mar 10, 2017 |
| FY2016 | Sep 30, 2015 | $55.75M | Mar 10, 2017 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $20.00M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $9.89M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $26.00M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $12.63M | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | $34.72M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $48.57M | Mar 3, 2022 |
| FY2019 | Dec 31, 2019 | $9.21M | Mar 6, 2020 |
| FY2019 | Sep 30, 2019 | $1.34M | Mar 6, 2020 |
| FY2019 | Jun 30, 2019 | ($3.06M) | Mar 6, 2020 |
| FY2019 | Mar 31, 2019 | ($5.47M) | Mar 6, 2020 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $30.31M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $15.18M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $33.36M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $16.28M | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | $49.26M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $14.78M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | $5.24M | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | ($3.95M) | Mar 6, 2020 |
| FY2019 | Dec 31, 2017 | ($4.72M) | Mar 6, 2020 |
| FY2018 | Dec 31, 2016 | ($28.91M) | Mar 13, 2019 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $282.95M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $243.80M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $209.14M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $182.39M | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | $168.92M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $156.20M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | $145.18M | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | $141.24M | Mar 6, 2020 |
| FY2019 | Dec 31, 2017 | $138.78M | Mar 6, 2020 |
| FY2018 | Dec 31, 2016 | $148.45M | Mar 13, 2019 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $59.31M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $29.31M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $25.56M | Mar 4, 2025 |
| FY2024 | Dec 31, 2022 | $882.0K | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | $27.45M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $23.49M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | $988.0K | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | ($1.69M) | Mar 6, 2020 |
| FY2019 | Dec 31, 2017 | ($11.32M) | Mar 6, 2020 |
| FY2018 | Dec 31, 2016 | ($6.11M) | Mar 13, 2019 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $86.63M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $56.87M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $40.70M | Mar 4, 2025 |
| FY2024 | Dec 31, 2022 | $8.99M | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | $7.53M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $5.58M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | $5.39M | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | $4.70M | Mar 6, 2020 |
| FY2019 | Dec 31, 2017 | $4.76M | Mar 6, 2020 |
| FY2018 | Dec 31, 2016 | $3.60M | Mar 13, 2019 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $493.16M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $436.56M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $345.25M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $291.57M | Mar 5, 2024 |
| FY2022 | Dec 31, 2021 | $295.30M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $245.19M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | $194.76M | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | $146.04M | Mar 6, 2020 |
| FY2018 | Dec 31, 2017 | $155.21M | Mar 13, 2019 |
| FY2017 | Dec 31, 2016 | $163.21M | Mar 9, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $293.48M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $258.29M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $178.45M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $146.69M | Mar 5, 2024 |
| FY2022 | Dec 31, 2021 | $153.90M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $142.14M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | $139.63M | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | $106.17M | Mar 6, 2020 |
| FY2018 | Dec 31, 2017 | $109.40M | Mar 13, 2019 |
| FY2017 | Dec 31, 2016 | $108.28M | Mar 9, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $199.69M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $178.26M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $166.80M | Mar 2, 2026 |
| FY2025 | Dec 31, 2022 | $144.88M | Mar 2, 2026 |
| FY2024 | Dec 31, 2021 | $129.42M | Mar 4, 2025 |
| FY2022 | Dec 31, 2020 | $91.07M | Mar 7, 2023 |
| FY2021 | Dec 31, 2019 | $43.15M | Mar 3, 2022 |
| FY2020 | Dec 31, 2018 | $39.87M | Mar 9, 2021 |
| FY2019 | Dec 31, 2017 | $45.81M | Mar 6, 2020 |
| FY2019 | Dec 31, 2016 | $54.93M | Mar 6, 2020 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $10.74M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $10.74M | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | $10.74M | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | $14.54M | Mar 4, 2025 |
| FY2023 | Dec 31, 2021 | $14.54M | Mar 5, 2024 |
| FY2022 | Dec 31, 2020 | $14.54M | Mar 7, 2023 |
| FY2021 | Dec 31, 2019 | $14.54M | Mar 3, 2022 |
| FY2020 | Dec 31, 2018 | $14.54M | Mar 9, 2021 |
| FY2019 | Dec 31, 2017 | $14.54M | Mar 6, 2020 |
| FY2018 | Dec 31, 2016 | $14.54M | Mar 13, 2019 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $99.17M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $79.17M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $69.28M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $51.23M | Mar 5, 2024 |
| FY2022 | Dec 31, 2021 | $39.70M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $6.20M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | ($42.06M) | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | ($44.07M) | Mar 6, 2020 |
| FY2018 | Dec 31, 2017 | ($37.53M) | Mar 13, 2019 |
| FY2017 | Dec 31, 2016 | ($26.04M) | Mar 9, 2018 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $28.52M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | $59.27M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | $75.99M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | $46.07M | Mar 5, 2024 |
| FY2022 | Dec 31, 2021 | $83.31M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | $38.03M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | $23.64M | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | $17.57M | Mar 6, 2020 |
| FY2018 | Dec 31, 2017 | $14.56M | Mar 13, 2019 |
| FY2017 | Dec 31, 2016 | $21.06M | Mar 9, 2018 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2020 | Dec 31, 2020 | $17.83M | Mar 9, 2021 |
| FY2020 | Dec 31, 2019 | $34.80M | Mar 9, 2021 |
| FY2018 | Dec 31, 2018 | $48.77M | Mar 13, 2019 |
| FY2017 | Dec 31, 2017 | $53.40M | Mar 9, 2018 |
| FY2016 | Dec 31, 2016 | $53.89M | Mar 10, 2017 |
| FY2015 | Dec 31, 2015 | $58.87M | Mar 10, 2016 |
| FY2014 | Dec 31, 2014 | $3.13M | Mar 16, 2015 |
| FY2013 | Dec 31, 2013 | $4.64M | Mar 11, 2014 |
| FY2012 | Dec 31, 2012 | $6.06M | Mar 12, 2013 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | 0 | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | 0 | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | 1 | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | 1 | Mar 3, 2022 |
| FY2019 | Dec 31, 2019 | 0 | Mar 6, 2020 |
| FY2019 | Sep 30, 2019 | 0 | Mar 6, 2020 |
| FY2019 | Jun 30, 2019 | 0 | Mar 6, 2020 |
| FY2019 | Mar 31, 2019 | 0 | Mar 6, 2020 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Mar 2, 2026 |
| FY2025 | Dec 31, 2023 | 0 | Mar 2, 2026 |
| FY2024 | Dec 31, 2022 | 0 | Mar 4, 2025 |
| FY2022 | Dec 31, 2021 | 1 | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | 1 | Mar 3, 2022 |
| FY2019 | Dec 31, 2019 | 0 | Mar 6, 2020 |
| FY2019 | Sep 30, 2019 | 0 | Mar 6, 2020 |
| FY2019 | Jun 30, 2019 | 0 | Mar 6, 2020 |
| FY2019 | Mar 31, 2019 | 0 | Mar 6, 2020 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 31.62M | Mar 2, 2026 |
| FY2025 | Dec 31, 2024 | 31.46M | Mar 2, 2026 |
| FY2024 | Dec 31, 2023 | 31.36M | Mar 4, 2025 |
| FY2023 | Dec 31, 2022 | 31.15M | Mar 5, 2024 |
| FY2022 | Dec 31, 2021 | 27.00M | Mar 7, 2023 |
| FY2021 | Dec 31, 2020 | 26.48M | Mar 3, 2022 |
| FY2020 | Dec 31, 2019 | 25.23M | Mar 9, 2021 |
| FY2019 | Dec 31, 2018 | 30.55M | Mar 6, 2020 |
| FY2018 | Dec 31, 2017 | 30.62M | Mar 13, 2019 |
| FY2017 | Dec 31, 2016 | 30.69M | Mar 9, 2018 |
Dividends Paid
Cash dividends distributed to common shareholders during the period. Shown as a positive value despite being a cash outflow in the SEC filing.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2016 | Dec 31, 2016 | $0 | Mar 10, 2017 |
| FY2016 | Dec 31, 2015 | $0 | Mar 10, 2017 |
| FY2016 | Dec 31, 2014 | $4.32M | Mar 10, 2017 |
| FY2015 | Dec 31, 2013 | $6.71M | Mar 10, 2016 |
| FY2014 | Dec 31, 2012 | $6.44M | Mar 16, 2015 |
| FY2013 | Dec 31, 2011 | $18.49M | Mar 11, 2014 |
| FY2012 | Dec 31, 2010 | $5.55M | Mar 12, 2013 |
| FY2011 | Dec 31, 2009 | $0 | Mar 9, 2012 |