UNIVERSAL TECHNICAL INSTITUTE INC UTI
Universal Technical Institute, Inc., which together with its subsidiaries is referred to as the "Company," "we," "us" or "our," was founded in 1965 and is a leading workforce education provider for transportation, skilled trades, energy and healthcare programs serving students, partners, and communities nationwide. The company offers high-quality training programs and support services for in-demand careers through its two reportable segments (also referred to as "divisions"): Universal Technical Institute and Concorde Career Colleges. We offer the majority of our programs in a hands-on learning model through labs and clinical placements, as well as classroom delivery and blended delivery models. Our reporting structure is as follows:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $835.6M | $732.7M | $607.4M | $418.8M | $335.1M | $300.8M | $331.5M | $317.0M | $324.3M | $347.1M |
| SG&A | $331.7M | $289.3M | $256.1M | $189.2M | $153.3M | $148.7M | $161.0M | $169.7M | $145.1M | $171.4M |
| Total operating expenses | $752.1M | $673.8M | $586.0M | $396.4M | $320.1M | $304.6M | $339.3M | $352.2M | $326.1M | $365.8M |
| Operating income | $83.5M | $58.9M | $21.4M | $22.4M | $14.9M | -$3.9M | -$7.8M | -$35.3M | -$1.8M | -$18.6M |
| Interest expense | $5.6M | $9.5M | $9.7M | $2.0M | $365.0K | $10.0K | $3.2M | $3.3M | $3.4M | $3.4M |
| Pre-tax income | $84.3M | $56.2M | $18.1M | $20.4M | $15.2M | -$2.6M | -$7.7M | -$35.7M | -$2.7M | -$21.5M |
| Income tax | $21.3M | $14.2M | $5.8M | $5.4M | $602.0K | $10.6M | $203.0K | $3.0M | $5.4M | $26.2M |
| Net income | $63.0M | $42.0M | $12.3M | $25.8M | $14.6M | $8.0M | -$7.9M | -$32.7M | -$8.1M | -$47.7M |
| EPS, basic | 1.16 | 0.77 | 0.13 | 0.39 | 0.17 | 0.05 | -0.52 | -1.51 | -0.54 | -2.02 |
| EPS, diluted | 1.13 | 0.75 | 0.13 | 0.38 | 0.17 | 0.05 | -0.52 | -1.51 | -0.54 | -2.02 |
| Shares, diluted (wtd. avg.) | $55.6M | $50.9M | $34.5M | $33.7M | $33.1M | $30.1M | $25.4M | $25.1M | $24.7M | $24.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $127.4M | $161.9M | $151.5M | $66.5M | $133.7M | $76.8M | $65.4M | $58.1M | $50.1M | $125.0M |
| Receivables | $46.1M | $31.1M | $25.2M | $16.4M | $17.2M | $35.4M | $17.9M | $21.1M | $15.2M | $15.3M |
| Total current assets | $246.6M | $222.0M | $205.0M | $136.0M | $183.4M | $180.2M | $118.1M | $116.8M | $146.8M | $161.9M |
| Property, plant and equipment | — | — | — | — | — | — | $104.1M | $114.8M | $106.7M | $114.0M |
| Goodwill | $28.5M | $28.5M | $28.5M | $16.9M | $8.2M | $8.2M | $8.2M | $8.2M | $9.0M | $9.0M |
| Other intangibles | $17.4M | $18.2M | $19.0M | $14.2M | $124.0K | — | — | — | — | — |
| Total assets | $826.1M | $744.6M | $740.7M | $552.9M | $512.6M | $442.0M | $270.5M | $282.3M | $274.1M | $297.2M |
| Accounts payable | $39.1M | $26.3M | $14.4M | $21.7M | $13.7M | $12.5M | $10.0M | $8.8M | $9.5M | $11.8M |
| Short-term debt | $2.9M | $2.7M | $2.5M | $1.1M | $876.0K | $129.0K | — | — | — | — |
| Total current liabilities | $229.7M | $205.0M | $184.7M | $137.7M | $132.7M | $121.6M | $96.8M | $92.5M | $86.4M | $94.6M |
| Long-term debt | $84.2M | $123.0M | $159.6M | $66.4M | $29.9M | $131.0K | — | — | — | — |
| Total liabilities | $498.0M | $484.3M | $514.7M | $337.5M | $324.0M | $265.5M | $156.2M | $155.6M | $148.3M | $160.5M |
| Retained earnings | $101.5M | $38.5M | $5.9M | -$1.3M | -$22.0M | -$33.0M | -$44.7M | -$31.6M | -$30.8M | -$17.5M |
| Total equity | $328.1M | $260.2M | $226.0M | $215.4M | $188.5M | $176.5M | $114.3M | $126.6M | $125.8M | $136.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $97.3M | $85.9M | $49.1M | $46.0M | $55.2M | $11.0M | $21.7M | -$13.4M | $1.1M | $7.4M |
| Depreciation and amortisation | $33.0M | $29.3M | $25.2M | $16.9M | $14.0M | — | $13.2M | $13.0M | $14.2M | $15.1M |
| Stock-based compensation | $9.2M | $8.6M | $3.8M | $4.3M | $1.7M | $2.1M | $1.4M | $1.8M | $2.9M | $4.9M |
| Capital expenditure | $42.0M | $24.3M | $56.7M | $79.5M | $61.3M | $9.3M | $6.5M | $20.6M | $8.2M | $7.5M |
| Investing cash flow | -$87.9M | -$24.0M | -$44.1M | -$134.6M | -$23.0M | -$45.8M | -$6.2M | $27.1M | -$54.4M | $17.3M |
| Financing cash flow | -$42.8M | -$51.3M | $81.8M | $12.6M | $24.8M | $43.1M | -$7.2M | -$6.6M | -$6.8M | $64.9M |
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $1.5M |
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 0001261654-25-000025.
Others in SIC 8200
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LAUR | LAUREATE EDUCATION, INC. | $5.06B | 19.4x | 8.6% |
| GHC | Graham Holdings Co | $4.84B | 17.1x | 2.5% |
| CVSA | Covista Inc. | $4.36B | 18.2x | 9.3% |
| LOPE | Grand Canyon Education, Inc. | $3.98B | 19.8x | 7.1% |
| LRN | Stride, Inc. | $3.52B | 11.9x | 4.7% |
| PRDO | PERDOCEO EDUCATION Corp | $2.08B | 13.7x | 24.2% |
| STRA | Strategic Education, Inc. | $1.81B | 15.1x | 4.0% |
| NRDY | Nerdy Inc. | $1.18B | — | -5.9% |