15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $518M | $20M | 60.4% | 5.8% | 10.0% | 4.1% | -$27M | $0 | $29M |
| 2024 | $440M | $10M | 58.7% | 3.4% | 5.5% | 2.3% | -$28M | $0 | $59M |
| 2023 | $378M | $26M | 57.1% | 8.8% | 15.6% | 7.5% | -$15M | — | $76M |
| 2022 | $348M | $13M | 57.3% | 4.7% | 8.7% | 4.3% | -$8M | — | $46M |
| 2021 | $335M | $35M | 58.6% | 14.7% | 26.8% | 11.8% | $20M | $0 | $83M |
| 2020 | $293M | $49M | 58.3% | 5.0% | 53.3% | 19.8% | $18M | $18M | $38M |
| 2019 | $273M | $2M | 54.8% | 1.9% | 4.7% | 1.0% | -$4M | $35M | $24M |
| 2018 | $263M | -$11M | 52.4% | -1.5% | -28.8% | -7.9% | -$6M | $49M | $18M |
| 2017 | $262M | -$11M | 50.6% | -1.8% | -25.1% | -7.4% | -$16M | $53M | $15M |
| 2016 | $286M | -$28M | 49.4% | -10.1% | -51.5% | -17.3% | -$10M | $42M | $21M |
| 2015 | — | -$3M | — | — | -4.1% | -1.6% | $12M | $59M | $38M |
| 2014 | — | -$56M | — | — | -67.6% | -26.3% | $5M | $3M | $12M |
| 2013 | — | -$51M | — | — | -35.3% | -16.8% | -$3M | $5M | $13M |
| 2012 | — | -$37M | — | — | -18.7% | -10.7% | $7M | $6M | $62M |
| 2011 | — | $18M | — | — | 7.3% | 4.8% | -$1M | — | $27M |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $143M | $2M | 58.2% | 2.3% | 1.0% | 0.4% | $8M | $26M | $44M |
| Mar '26 | $144M | $4M | 59.4% | 4.5% | 2.2% | 0.9% | -$10M | $5M | $17M |
| Dec '25 | $143M | $13M | 62.3% | 12.4% | 6.4% | 2.6% | $25M | $0 | $29M |
| Sep '25 | $141M | $4M | 59.5% | 4.4% | 2.0% | 0.8% | $2M | $8M | $13M |
| Jun '25 | $116M | $2M | 59.8% | 2.5% | 0.9% | 0.3% | -$26M | $13M | $17M |
| Mar '25 | $118M | $2M | 59.7% | 2.9% | 1.1% | 0.5% | -$28M | — | $29M |
| Dec '24 | $119M | $7M | 62.2% | 9.2% | 3.8% | 1.6% | $6M | $0 | $59M |
| Sep '24 | $114M | $4M | 58.0% | 5.1% | 2.3% | 1.0% | -$14M | — | $54M |
| Jun '24 | $103M | -$682000 | 55.7% | -1.1% | -0.4% | -0.2% | -$3M | — | $67M |
| Mar '24 | $103M | -$214000 | 58.4% | -0.4% | -0.1% | -0.1% | -$17M | — | $69M |
| Dec '23 | $103M | $7M | 60.0% | 8.7% | 4.1% | 2.0% | $10M | — | $76M |
| Sep '23 | $100M | $2M | 56.7% | 2.0% | 1.3% | 0.7% | -$25M | — | $42M |
| Jun '23 | $89M | $17M | 54.8% | 26.5% | 11.2% | 5.5% | $3M | — | $66M |
| Mar '23 | $87M | -$109000 | 56.4% | -1.3% | -0.1% | -0.0% | -$3M | — | $40M |
| Dec '22 | $92M | $9M | 60.2% | 12.3% | 5.9% | 2.9% | -$2M | — | $46M |
| Sep '22 | $92M | $4M | 56.5% | 5.3% | 2.8% | 1.2% | $7M | — | $70M |
| Jun '22 | $82M | $259000 | 56.0% | 0.5% | 0.2% | 0.1% | $2M | — | $67M |
| Mar '22 | $83M | $272000 | 56.2% | -0.4% | 0.2% | 0.1% | -$15M | — | $66M |
| Dec '21 | $88M | $24M | 60.4% | 38.8% | 18.5% | 8.1% | $7M | $0 | $83M |
| Sep '21 | $89M | $4M | 57.2% | 6.5% | 3.8% | 1.5% | $15M | $16M | $47M |
How the market has priced LINC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Lincoln Educational Services Corp's revenue has grown 12.1% per year, and net income declined 16.3% per year. These are computed facts, not advice.
As of FY2025, Lincoln Educational Services Corp reported $0 of total debt against $29M of cash; operating income covered interest expense 8.9×.
In FY2025, gross margin was 60.4%, operating margin 5.8%, and net margin 3.9%.
As of Sep '26, Lincoln Educational Services Corp traded at a price-to-earnings ratio of about 40.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.