Skip to main content
APEI logo

APEI · American Public Education Inc

Track APEI — free
$40.88 -0.28 (-0.68%) At close · Nov 13
Market Cap
$744.15M
Shares
18.20M
Volume · Nov 13 145.7K Avg daily vol (3M) 252.73K

Price & Indicators

Drag to pan · scroll to zoom
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$40.88 Open$41.58 Day$40.45–41.89 52W close$33.14–60.86 Avg vol 30d247K Short int2.5M · 14.0% of shares · 15.4d Short vol53% Last earningsNov 9, 2026 DataJan 2020–Nov 2026 Filing10-Q · Nov 9

Up next

Mar 11, 2027 Est · unconfirmed · in 17 wks

Latest documents

2026
Nov 9
Earnings call
Raises full-year guidance after third-quarter revenue growth

American Public Education raised full-year 2026 revenue guidance to $695 million to $701 million after third-quarter revenue grew 3.6% to $169.1 million and adjusted EBITDA reached $17.5 million.

4 source passages
Welcome to American Public Education's conference call to discuss third quarter 2026 results. Total APEI revenue grew 3.6% year-over-year to $169.1 million, above the high end of our guidance range of $164.5 million to $167 million. Adjusted EBITDA was $17.5 million, exceeding the high end of our guidance range of $14 million to $17 million. Revenue of $695 million to $701 million, compared with our prior range of $690 million to $698 million. Open the document at this passage
Nov 9
Current report 8-K
Third-quarter results exceed guidance; full-year outlook raised

American Public Education, Inc. reported third-quarter 2026 revenue of $169.1 million and diluted EPS of $0.32, exceeding guidance. It raised full-year 2026 revenue guidance to $695.0 - $701.0 million and adjusted EBITDA guidance to $98.0 - $105.0 million.

Financial results
5 source passages
American Public Education, Inc. (the “Company”) (Nasdaq: APEI), a company that transforms lives, advances careers and improves communities by providing online and campus-based postsecondary education to approximately 106,600 students, has reported financial and operational results for the third quarter ended September 30, 2026. Consolidated revenue of $169.1 million, a 3.6% year-over-year increase, compared to $163.2 million. Net income per diluted common share increased 6.7% to $0.32, compared to $0.30. | Revenue | $695.0 - $701.0 | $648.90 | | Adjusted EBITDA | $98.0 - $105.0 | $85.70 | Open the document at this passage
Nov 9
Quarterly report 10-Q FY2026 Q3, ended Sep 30
Nine-month net income reaches $33.4 million

Nine months ended September 30, 2026, American Public Education, Inc. reported revenue of $515.6 million, up 5.1% from $490.5 million, and net income of $33.4 million, up $14.4 million from $18.9 million; operating margin improved to 8.4% from 5.8%.

Revenue $169.14M ▲ 3.6% Net income $5.89M ▲ 6.0% Diluted EPS $0.32 ▲ 6.7%
Read from the MD&A section
3 source passages
Consolidated revenue for the nine months ended September 30, 2026, increased to $515.6 million from $490.5 million, or by 5.1%, as compared to the prior year period. Our net income for the nine months ended September 30, 2026, was $33.4 million, compared to $18.9 million in the prior year period, an increase of $14.4 million. Our operating margin improved to 8.4% for the nine months ended September 30, 2026, as compared to 5.8% in the prior year period. Open the document at this passage
All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$673.94M
Trailing 12 months
Net income (TTM)
$46.00M
Trailing 12 months
Revenue growth YoY
+3.6%
Year over year
Operating margin
9.2%
Trailing 12 months
P / E (TTM)
16.7
Trailing earnings · reciprocal yield 6.0%
FCF yield
7.6%
TTM · current market cap
Return on invested capital
26.3%
Trailing 12 months
Net cash
$130.19M
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
-0.4%
Year over year · fewer shares
Price change (1Y)
+18.3%
Trailing year
Short interest
14.0%
Latest settlement · 15.4 days to cover
View all 125 metrics

AI Brief

Q2 FY26 earnings call · Aug 10, 2026
Q2 FY26

TL;DR. APEI raised full-year 2026 guidance on revenue, net income, adjusted EBITDA, and diluted EPS after Q2 results showed adjusted EBITDA up 36.8% with 275 bps of margin expansion, completed the institutional combination creating one HLC-accredited institution, and reported Health+ revenue growth of 11% on enrollment gains.

Bullish
  • + Raised full-year 2026 guidance on revenue, net income, adjusted EBITDA, and diluted EPS.
  • + Q2 adjusted EBITDA grew 36.8% with 275 bps of margin expansion year over year.
  • + Health+ revenue grew 11% to $86.2 million and segment swung to operating income from a prior-year loss.
  • + Military+ segment adjusted EBITDA margin expanded 150 bps to 29.4% with operating income up 10.6%.
Bearish
  • − Active duty channel headwinds from Middle East deployments continue to pressure Navy, Air Force, and Marine enrollments.
  • − President of Health+ Division Mark Arnold is leaving the company.
  • − Non-core student segments have experienced increased cost per lead and lower enrollments, with Q3 Health+ enrollment growth decelerating to approximately 2.5%.
  • − Q3 2026 guidance includes a revenue timing shift moving approximately $6 million of revenue and $4 million of adjusted EBITDA from Q3 into Q4.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Neutral
SellHoldBuy
Technical Sell Momentum Weak Sentiment Neutral Fundamentals Excellent Quant / Vol Very High
Market backdrop VIX 19.3 · elevated Equity put/call 0.63
Technical
price trend
Sell
50 / 200-day cross No cross
Price vs 200-day avg −18%
below
Price vs 50-day avg −8%
below
RSI (14) 42
neutral
MACD trend Negative
52-week position 28%
mid-range
Volume (OBV) Bullish div.
accumulating
Momentum
relative strength
Weak
1-month return −17%
trailing
6-month return −22%
trailing
YTD return +8%
this year
Relative strength −23%
vs S&P · 6-mo
Sentiment
smart money
Neutral
Trend (MA cross) No cross
50d $44 › 200d $50 — 200d above 50d
Institutional flow Distributing
164 of 211 funds reported for Sep 30 · net -1.2M sh shares · +13 new
Insider flow Flat
No net insider activity over 90 days
Short interest Falling
13.96% of shares out · ▼ -1.7% MoM · 15.4 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
211 holders — near 3-yr high, broad support
Squeeze score 67
elevated · 0–100
Fundamentals
Excellent
Revenue growth +33%
Y/Y
EPS growth +147%
Y/Y
Free cash flow $46.1M
Valuation P/E 16.7
in line
Balance sheet $79.4M
net cash
Quant / Vol
risk profile
Very High
Volatility 46%
annualized · 1-yr
Max drawdown −39%
past year
ATR 5.6%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Beat or met 6 of last 8
Latest guidance · from the Earnings Call filed Aug 10, 2026
Revenue · full year 2026 Raised $690M – $698M
May 11, 2026 $686M – $696M changed to Aug 10, 2026 $690M – $698M
prior FY $648.86M midpoint +7.0% Y/Y
Net income available to common stockholders · full year 2026 Raised $46.5M – $52.5M
May 11, 2026 $44.9M – $51.6M changed to Aug 10, 2026 $46.5M – $52.5M
Adjusted EBITDA · full year 2026 Non-GAAP Raised $96M – $104M
May 11, 2026 $93M – $102M changed to Aug 10, 2026 $96M – $104M
Diluted EPS · full year 2026 Raised $2.48 – $2.79
May 11, 2026 $2.33 – $2.68 changed to Aug 10, 2026 $2.48 – $2.79
prior FY $1.36 midpoint +93.8% Y/Y
Capital expenditures · full year 2026 Lowered $25M – $28M
May 11, 2026 $28M – $32M changed to Aug 10, 2026 $25M – $28M
Previous outlook earlier release · from the Earnings Call filed May 11, 2026

Still-open targets the latest release did not restate under the same label.

PAPETs · full year 2026 $28M – $32M
PAPETs · full year 2026 $2.33 – $2.68
Organic revenue · by 2029 $890M – $925M
Adjusted EBITDA margins · by 2029 20% – 21%
Prior guidance period ended · from the Earnings Call filed Aug 10, 2026
Revenue · third quarter 2026 $164.5M – $167M
Net income available to common stockholders · third quarter 2026 $3.4M – $5.4M
Adjusted EBITDA · third quarter 2026 $14M – $17M
Diluted EPS · third quarter 2026 $0.18 – $0.29
Guided vs delivered · last 8 settled
Revenue third quarter 2026
guided $164.5M – $167M
$169.14M Beat +2.0%
Diluted EPS third quarter 2026
guided $0.18 – $0.29
$0.32 Beat +36.2%
Diluted Earnings per Share Second Quarter 2026
guided $0.34 – $0.39
$0.52 Beat +42.5%
Revenue second quarter of 2026
guided $170M – $172M
$171.73M In line

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Sell
3 · 3 · 1
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
−18% Bearish
Price vs 50-day avg
−8% Bearish
RSI (14)
42 Neutral
MACD trend
Negative Bearish
52-week position
28% Neutral
Volume (OBV)
Bullish div. Bullish
Market signals — smart money & positioning
Bullish · 2 of 6
Trend (MA cross) No cross
50d $44 › 200d $50 — 200d above 50d
Institutional flow Distributing
164 of 211 funds reported for Sep 30 · net -1.2M sh shares · +13 new
Insider flow Flat
No net insider activity over 90 days
Short interest Falling
13.96% of shares out · ▼ -1.7% MoM · 15.4 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
211 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $33 Now $41 · 28% Range high $61
vs 200-day avg -18% vs 50-day avg -8%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Adjusted EBITDA non-GAAP $49.88M Six Months Ended June 30, 2026 —
Adjusted EBITDA Margin non-GAAP 12% 2Q26 —
EBITDA $43.28M Six Months Ended June 30, 2026 —
Health+ Total Student Enrollment 19,600 Q2 2026 —
Military+ Net Course Registrations 98,300 Q2 2026 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Education & Training Services — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
APEI
American Public Education Inc
this stock
$744.15M +8.1% +33.0% 16.7 14.0%
EDU
New Oriental Education & Technology Group Inc.
$8.26B -3.2% +15.5% — 1.6%
TAL
TAL Education Group
$5.70B -5.8% +33.7% — 3.7%
LAUR
Laureate Education, Inc.
$4.76B +4.0% +19.5% 13.0 2.4%
CVSA
Covista Inc.
$3.93B +14.2% +9.3% 16.1 8.5%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Reducing
Holders
195
% held
101.5%
Reported
164 of 211
Top holder
BlackRock, Inc.
Held Float
View
Held by Funds
Fund positions
227
View
Short & Settlement
Short Interest Falling
Shares short
2.5M
Days to cover
15.4d
Change
-42.6K sh
View
Short Volume
Short vol %
53%
As of
Nov 13, 2026
Short Total
View
Fails to Deliver
FTD shares
723
Value
$31.6K
As of
Oct 5, 2026
View
Off-Exchange
Off-exchange %
35.1%
Week of
Oct 5, 2026
Off-exch Lit
View
Financials
Financials
Revenue (FY)
$648.9M
Net income (FY)
$31.6M
EPS diluted
$1.36
View
Buybacks
Authorized
shares 181.4K
View
Filings
SEC Filings
Latest
10-Q
Filed
Nov 9, 2026
This year
15

Nine months ended September 30, 2026, American Public Education, Inc. reported revenue of $515.6 million, up 5.1% from $490.5 million, and net income of $33.4 million, up $14.4 million from $18.9 million; operating margin improved to 8.4% from 5.8%.

View
Proposed Sales
Value
$59.9K
Shares
1.3K
Filed
Oct 22, 2026
View
Earnings & Events
Webcasts
Last webcast
Nov 9, 2026
View
Investor Relations
Latest news
American Public Education Reports…
Published
Nov 9, 2026
View

Performance

5D 20D 120D MTD YTD
APEI +9.7% -16.9% -22.4% +0.8% +8.2%
SPY +2.6% -1.2% +0.5% -0.2% +10.6%
vs SPY +7.1% -15.7% -22.9% +0.9% -2.5%

Capital returns

Buyback program · as of Dec 31, 2025
Authorized
shares 181,387
Spent (derived)
—
Remaining
—

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 1201792 CUSIP 02913V103 13F (30d) 139 filings 123 filers Visit website Investor relations