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 →
Growth & profitability
Revenue has grown 18.2% per year over the past 5 years.
Net income has grown faster than revenue (63.7% vs 18.2% per year).
Operating margin has expanded, at 15.0% in the latest year.
Free cash flow has grown 40.5% per year over the past 5 years.
Financial health
The company holds more cash ($782M) than total debt ($416M).
Total debt has grown slower than revenue (8.6% vs 18.2% per year).
Total debt is 0.9× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$2.4B
$288M
39.2%
15.0%
$431M
$416M
$782M
2024
$2.0B
$204M
37.4%
12.2%
$277M
$415M
$501M
2023
$1.8B
$127M
35.2%
9.0%
$199M
$413M
$411M
2022
$1.7B
$107M
35.4%
9.3%
$197M
$411M
$389M
2021
$1.5B
$71M
34.8%
7.2%
$131M
$299M
$386M
2020
$1.0B
$25M
33.4%
3.1%
$79M
—
$212M
2019
—
$37M
—
—
$136M
—
$283M
2018
—
$28M
—
—
$97M
—
$231M
2017
—
$451000
—
—
$87M
—
$231M
2016
—
$9M
—
—
$117M
—
$214M
2015
—
$11M
—
—
$110M
—
$196M
2014
—
$20M
—
—
—
—
$196M
2013
—
$28M
—
—
—
—
$181M
2012
—
$18M
—
—
—
—
$145M
2011
—
$13M
—
—
—
—
$193M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$630M
$89M
36.8%
20.5%
$220M
$418M
$614M
Dec '25
$631M
$99M
41.1%
23.3%
$92M
$417M
$497M
Sep '25
$621M
$69M
39.0%
11.1%
-$196M
$417M
$518M
Jun '25
$654M
$51M
36.6%
8.7%
$298M
$416M
$782M
Mar '25
$613M
$99M
40.6%
21.3%
$53M
$416M
$529M
Dec '24
$587M
$96M
40.8%
21.3%
$223M
$416M
$515M
Sep '24
$551M
$41M
39.2%
8.6%
-$143M
$415M
$318M
Jun '24
$534M
$63M
35.2%
13.8%
$171M
$415M
$501M
Mar '24
$521M
$70M
38.7%
17.0%
$69M
$414M
$377M
Dec '23
$505M
$67M
39.8%
16.7%
$173M
$414M
$354M
Sep '23
$480M
$5M
36.0%
0.7%
-$137M
$413M
$255M
Jun '23
$483M
$43M
35.6%
11.2%
$96M
$413M
$411M
Mar '23
$470M
$55M
37.3%
15.4%
$84M
$413M
$374M
Dec '22
$458M
$51M
37.1%
14.8%
$162M
$412M
$318M
Sep '22
$425M
-$23M
30.5%
-6.8%
-$144M
$412M
$195M
Jun '22
$455M
$28M
36.8%
10.1%
$120M
$411M
$389M
Mar '22
$422M
$43M
36.7%
14.4%
$91M
$411M
$309M
Dec '21
$410M
$42M
36.0%
13.9%
$118M
$411M
$257M
Sep '21
$400M
-$6M
31.6%
-1.7%
-$133M
$410M
$219M
Jun '21
$398M
$10M
34.4%
5.4%
$122M
$299M
$386M
Valuation over time
How the market has priced LRN 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.
The price-to-earnings ratio has fallen from 15.6× (Mar '23) to 12.7× (Jun '26).
The price-to-sales ratio has risen from 1.0× (Mar '23) to 1.5× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is LRN growing its revenue and profit?
Over the past 5 years, Stride, Inc.'s revenue has grown 18.2% per year, and net income grown 63.7% per year. These are computed facts, not advice.
How much debt does LRN have?
As of FY2025, Stride, Inc. reported $416M of total debt against $782M of cash.
What is LRN's profit margin?
In FY2025, gross margin was 39.2%, operating margin 15.0%, and net margin 12.0%.
What is LRN's P/E ratio?
As of Jun '26, Stride, Inc. traded at a price-to-earnings ratio of about 12.7× (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.
Where does this data come from?
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.