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Lincoln Educational Services Corp (LINC)

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SEC name LINCOLN EDUCATIONAL SERVICES CORP · CIK 0001286613 · Nasdaq · Services-Educational Services

  • Sector Services
  • Incorporated NJ
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Lincoln Educational Services Corp reported revenue of $518.24M. Revenue grew 17.8% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $570.78M.

Key ratios (year ended 2025-12-31)

60.4%
Gross margin (computed)
5.8%
Operating margin
3.9%
Net margin
10.0%
Return on year-end equity
17.8%
Revenue growth (YoY)

Computed by TickerFacts from revenue minus cost of revenue. This may differ from the issuer's reported gross profit or margin; check the revenue and cost definitions.

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Latest selected filing: Form 8-K (current report) · 2026-08-10

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$570.78M$518.24M$440.06M$378.07M$348.29M$335.34M$293.10M$273.34M$263.20M$261.85M$285.56M
Cost of Revenue$229.22M$205.39M$181.76M$162.28M$148.75M$138.93M$122.20M$123.50M$125.37M$129.41M$144.43M
Gross Profit (computed)$341.56M$312.85M$258.31M$215.79M$199.54M$196.41M$170.90M$149.85M$137.83M$132.44M$141.13M
Operating Income$33.74M$30.31M$15.18M$33.36M$16.28M$49.26M$14.78M$5.24M-$3.95M-$4.72M-$28.91M
Depreciation & Amortization$26.11M$19.16M$11.33M$6.60M$6.36M$7.14M$7.40M$8.12M$8.42M$8.70M$11.07M
EBITDA$59.85M$49.47M$26.51M$39.95M$22.64M$56.40M$22.18M$13.35M$4.47M$3.99M-$17.85M
Net Income$22.80M$20.00M$9.89M$26.00M$12.63M$34.72M$48.56M$2.02M-$11.48M-$11.48M-$28.30M
EPS (Diluted)n/a$0.64$0.32$0.85$0.36$1.04$1.49$0.08-$0.48-$0.48-$1.21
Total Assets$529.78M$493.16M$436.56M$345.25M$291.57M$295.30M$245.19M$194.76M$146.04M$155.21M$163.21M
Total Liabilities$327.39M$293.48M$258.29M$178.44M$146.69M$153.90M$142.14M$139.63M$106.17M$109.40M$108.28M
Long-Term Debtn/an/an/an/an/an/a$17.83M$34.80M$48.77M$53.40M$53.89M
Shareholders' Equity$202.39M$199.69M$178.26M$166.80M$144.88M$129.42M$91.07M$43.15M$39.87M$45.81M$54.93M
Cash & Equivalents$44.18M$28.52M$59.27M$75.99M$46.07M$83.31M$38.03M$23.64M$17.57M$14.56M$21.06M
Operating Cash Flow$94.02M$59.31M$29.31M$25.56M$882.0K$27.45M$23.48M$988.0K-$1.69M-$11.32M-$6.11M
Capital Expenditures$69.49M$86.63M$56.87M$40.70M$8.99M$7.53M$5.58M$5.38M$4.70M$4.75M$3.60M
Free Cash Flow$24.53M-$27.32M-$27.56M-$15.14M-$8.10M$19.92M$17.91M-$4.40M-$6.39M-$16.08M-$9.70M
Share Repurchasesn/an/a$0$891.0K$9.45M$0n/an/an/an/an/a
Dividends Paidn/an/an/an/an/an/an/an/an/an/a$0
Shares Outstanding31.72M31.62M31.46M31.36M31.15M27.00M26.48M25.23M30.55M30.62M30.69M
Weighted Average Diluted Sharesn/an/a30.89M30.54M25.88M25.08M24.75M24.55M23.91M23.91M23.45M
EPS (Basic)n/a$0.65$0.32$0.86$0.36$1.04$1.49$0.08-$0.48-$0.48-$1.21

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