Strategic Education, Inc. STRA

Industrials SIC 8200 - Services-Educational Services NAICS Educational Services derived Nasdaq

Strategic Education, Inc. ("SEI," "we," "us," "our," or "the Company") is an education services company that provides access to high-quality education through campus-based and online post-secondary education offerings, as well as through programs to develop job-ready skills for high-demand markets. We operate primarily through our wholly-owned subsidiaries, Capella University and Strayer University, both accredited post-secondary institutions of higher education located in the United States, and Torrens University, an accredited post-secondary institution of higher education located in Australia. Our operations also include the Education Technology Services segment, which primarily develops and maintains relationships with employers to build education benefits programs that provide employees access to affordable and industry-relevant training, certificate, and degree programs, including through Workforce Edge, a full-service education benefits administration solution for employers, and Sophia Learning, which offers low-cost online general education-level courses.

Last close 81.74 2026-10-23
Market cap $1.82B 2026-06-30 share count
52-week range 69.70 - 89.73

Valuation FY2025 figures against the last close

P/S1.4x
P/E15.1x
P/FCF11.8x
EV/EBITDA8.2x
Dividend yield3.2%
Diluted EPS5.41

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Non-US
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 1B (80.2%) 80% United States Non-US, FY2025: 251.6M (19.8%) 20% Non-US FY2024 United States, FY2024: 962.8M (78.9%) 79% Non-US, FY2024: 257.1M (21.1%) 21% FY2023 United States, FY2023: 899.4M (79.4%) 79% Non-US, FY2023: 233.5M (20.6%) 21%
Region FY2025FY2024FY2023
United States $1.02B $962.8M $899.4M
Non-US $251.6M $257.1M $233.5M

As the company reported it, from the “Segment and Geographic Information - Schedule of Revenue by Geographic Areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.27B$1.22B$1.13B$1.07B$1.13B$1.03B$997.1M$634.2M$454.9M$441.1M
Cost of revenue ————————$245.2M$241.0M
Gross profit ————————$209.7M$200.1M
SG&A $425.0M$412.2M$384.4M$379.8M$361.3M$295.2M$272.4M$194.0M$129.3M$47.9M
Total operating expenses $1.09B$1.06B$1.04B$994.7M$1.06B$918.3M$886.6M$656.9M$402.6M$383.6M
Operating income $174.2M$155.6M$95.3M$70.8M$73.9M$109.4M$110.5M-$22.7M$52.2M$57.5M
Interest expense ————————$642.0K$642.0K
Pre-tax income $177.4M$161.4M$100.7M$69.6M$76.6M$114.0M$123.7M-$19.1M$52.6M$57.3M
Income tax $50.8M$48.7M$30.9M$22.9M$21.5M$27.7M$42.6M$3.5M$32.0M$22.5M
Net income $126.6M$112.7M$69.8M$46.7M$55.1M$86.3M$81.1M-$15.7M$20.6M$34.8M
EPS, basic 5.574.812.981.972.303.813.73-1.031.933.28
EPS, diluted 5.414.672.911.942.283.773.67-1.031.843.21
Shares, diluted (wtd. avg.) 23.4M24.1M24.0M24.0M24.1M22.9M22.1M15.2M11.2M10.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $140.8M$137.1M$181.9M$227.5M$279.2M$202.0M$420.5M$312.2M$156.4M$129.8M
Short-term investments $7.3M$46.9M$39.7M$9.2M$6.5M$7.6M$34.9M$37.1M——
Receivables $78.2M$76.1M$76.1M$63.0M$51.3M$50.2M$51.5M$55.7M$23.1M$20.5M
Total current assets $277.9M$304.9M$329.1M$329.1M$367.8M$286.1M$524.1M$420.4M$190.3M$160.5M
Property, plant and equipment $107.4M$111.2M$118.5M$132.8M$150.6M$158.9M$117.0M$122.7M$73.8M$73.1M
Goodwill $1.24B$1.21B$1.25B$1.25B$1.29B$1.32B$732.1M$732.5M$20.7M$20.7M
Other intangibles $249.2M$245.1M$251.6M$260.5M$276.4M$326.4M$273.0M$328.3M$7.3M—
Total assets $2.04B$2.05B$2.13B$2.16B$2.31B$2.30B$1.79B$1.66B$321.3M$298.7M
Accounts payable $105.8M$101.7M$90.9M$90.6M$95.5M$104.7M$90.8M$86.0M$46.2M$41.1M
Total current liabilities $217.9M$216.5M$209.6M$209.9M$195.8M$200.1M$156.7M$125.1M$69.1M$59.8M
Long-term debt —$0$61.4M$101.4M$141.6M$141.8M$0———
Total liabilities $392.1M$387.2M$472.7M$526.0M$591.9M$547.5M$326.7M$235.8M$112.1M$110.3M
Retained earnings $255.5M$218.4M$168.9M$159.7M$174.6M$179.6M$152.8M$118.3M$162.0M$152.8M
Total equity $1.65B$1.66B$1.65B$1.64B$1.71B$1.75B$1.46B$1.43B$209.2M$188.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $198.2M$169.3M$117.1M$126.1M$180.5M$142.9M$202.1M$46.9M$56.2M$44.5M
Depreciation and amortisation $48.4M$44.4M$48.4M$52.0M$59.1M$51.8M$49.5M$31.4M$18.7M$17.8M
Stock-based compensation $23.0M$25.6M$19.8M$21.8M$18.1M$14.6M$12.2M$15.5M$11.6M$10.8M
Capital expenditure $44.3M$40.6M$36.9M$43.2M$49.4M$46.8M$38.7M$27.5M$18.1M$13.2M
Investing cash flow $8.5M-$64.4M-$48.5M-$31.4M-$33.1M-$642.2M-$38.1M$130.1M-$18.1M-$20.8M
Financing cash flow -$206.2M-$136.8M-$113.6M-$142.4M-$67.9M$279.2M-$55.8M-$21.2M-$11.4M-$1.4M
Dividends paid $57.5M$59.0M$58.8M$59.2M$59.0M$56.0M$46.6M$27.8M$11.4M—
Buybacks $138.9M$11.5M$10.0M$40.1M$5.9M$247.0K$0$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001013934-26-000006.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Revenue, FY2016: 441.1M Gross profit, FY2016: 200.1M Net income, FY2016: 34.8M Revenue, FY2017: 454.9M Gross profit, FY2017: 209.7M Net income, FY2017: 20.6M Revenue, FY2018: 634.2M Net income, FY2018: -15.7M Revenue, FY2019: 997.1M Net income, FY2019: 81.1M Revenue, FY2020: 1B Net income, FY2020: 86.3M Revenue, FY2021: 1.1B Net income, FY2021: 55.1M Revenue, FY2022: 1.1B Net income, FY2022: 46.7M Revenue, FY2023: 1.1B Net income, FY2023: 69.8M Revenue, FY2024: 1.2B Net income, FY2024: 112.7M Revenue, FY2025: 1.3B Net income, FY2025: 126.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $441.1M $454.9M $634.2M $997.1M $1.03B $1.13B $1.07B $1.13B $1.22B $1.27B
Gross profit $200.1M $209.7M — — — — — — — —
Net income $34.8M $20.6M -$15.7M $81.1M $86.3M $55.1M $46.7M $69.8M $112.7M $126.6M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
  • Annual report filed Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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