15 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 10.4% per year over the past 5 years.
Net income has grown faster than revenue (36.5% vs 10.4% per year).
Operating margin has expanded, at 17.9% in the latest year.
Free cash flow has grown 27.1% per year over the past 5 years.
Financial health
The company holds more cash ($755M) than total debt ($418M).
Total debt has grown slower than revenue (6.9% vs 10.4% per year).
Total debt is 0.7× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
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
ROE
ROA
FCF
Total debt
Cash
2026
$2.5B
$338M
37.8%
17.9%
20.7%
13.9%
$433M
$418M
$755M
2025
$2.4B
$288M
39.2%
15.0%
19.5%
12.6%
$431M
$416M
$782M
2024
$2.0B
$204M
37.4%
12.2%
17.4%
10.6%
$277M
$415M
$501M
2023
$1.8B
$127M
35.2%
9.0%
13.4%
7.2%
$199M
$413M
$411M
2022
$1.7B
$107M
35.4%
9.3%
13.2%
6.5%
$197M
$411M
$389M
2021
$1.5B
$71M
34.8%
7.2%
8.9%
4.5%
$131M
$299M
$386M
2020
$1.0B
$25M
33.4%
3.1%
3.6%
2.3%
$79M
—
$212M
2019
—
$37M
—
—
5.9%
4.5%
$136M
—
$283M
2018
—
$28M
—
—
4.7%
3.7%
$97M
—
$231M
2017
—
$451000
—
—
0.1%
0.1%
$87M
—
$231M
2016
—
$9M
—
—
1.6%
1.2%
$117M
—
$214M
2015
—
$11M
—
—
2.0%
1.6%
$110M
—
$196M
2014
—
$20M
—
—
3.7%
2.8%
—
—
$196M
2013
—
$28M
—
—
5.3%
3.9%
—
—
$181M
2012
—
$18M
—
—
3.7%
2.7%
—
—
$145M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
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
ROE
ROA
FCF
Total debt
Cash
Sep '26
$639M
$65M
37.7%
13.2%
3.9%
2.6%
-$125M
$418M
$548M
Jun '26
$636M
$81M
34.2%
16.6%
5.0%
3.3%
$317M
$418M
$755M
Mar '26
$630M
$89M
36.8%
20.5%
5.4%
3.6%
$220M
$418M
$614M
Dec '25
$631M
$99M
41.1%
23.3%
6.4%
4.3%
$92M
$417M
$497M
Sep '25
$621M
$69M
39.0%
11.1%
4.5%
2.9%
-$196M
$417M
$518M
Jun '25
$654M
$51M
36.6%
8.7%
3.5%
2.2%
$298M
$416M
$782M
Mar '25
$613M
$99M
40.6%
21.3%
7.0%
4.5%
$53M
$416M
$529M
Dec '24
$587M
$96M
40.8%
21.3%
7.3%
4.7%
$223M
$416M
$515M
Sep '24
$551M
$41M
39.2%
8.6%
3.4%
2.1%
-$143M
$415M
$318M
Jun '24
$534M
$63M
35.2%
13.8%
5.3%
3.3%
$171M
$415M
$501M
Mar '24
$521M
$70M
38.7%
17.0%
6.3%
3.7%
$69M
$414M
$377M
Dec '23
$505M
$67M
39.8%
16.7%
6.5%
3.8%
$173M
$414M
$354M
Sep '23
$480M
$5M
36.0%
0.7%
0.5%
0.3%
-$137M
$413M
$255M
Jun '23
$483M
$43M
35.6%
11.2%
4.6%
2.5%
$96M
$413M
$411M
Mar '23
$470M
$55M
37.3%
15.4%
6.2%
3.3%
$84M
$413M
$374M
Dec '22
$458M
$51M
37.1%
14.8%
6.0%
3.1%
$162M
$412M
$318M
Sep '22
$425M
-$23M
30.5%
-6.8%
-2.9%
-1.4%
-$144M
$412M
$195M
Jun '22
$455M
$28M
36.8%
10.1%
3.5%
1.7%
$120M
$411M
$389M
Mar '22
$422M
$43M
36.7%
14.4%
5.5%
2.7%
$91M
$411M
$309M
Dec '21
$410M
$42M
36.0%
13.9%
5.7%
2.8%
$118M
$411M
$257M
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 15.4× (Mar '23) to 9.4× (Nov '26).
The price-to-sales ratio has risen from 1.0× (Mar '23) to 1.3× (Nov '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 10.4% per year, and net income grown 36.5% per year. These are computed facts, not advice.
How much debt does LRN have?
As of FY2026, Stride, Inc. reported $418M of total debt against $755M of cash.
What is LRN's profit margin?
In FY2026, gross margin was 37.8%, operating margin 17.9%, and net margin 13.4%.
What is LRN's P/E ratio?
Stride, Inc.'s P/E (TTM) is 9.52 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the LRN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 9.4× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.