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American Public Education Inc(APEI)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
3-STAR RATING
PASS
LAST CLOSE
$43.36
10/01/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for APEI

10/01/2026: APEI (3-star) is currently NOT-A-BUY. Pass it for now.

American Public Education Inc. operates a portfolio of higher education institutions, with a strong historic focus on military personnel and a growing emphasis on nursing and healthcare training. The company's primary strength lies in its specialized niches and its recent efforts to scale healthcare-focused programs to meet workforce demands. Its main growth story centers on successfully integrating its diverse segments and leveraging corporate partnerships to drive enrollment. However, investors must monitor regulatory risks, intense competition, and the costs associated with operational restructuring. This stock may suit investors willing to accept volatility in exchange for potential gains from a successful long-term operational turnaround in the education sector.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company is in a transition phase, making long-term growth dependent on the successful integration of its nursing programs.
Momentum investorWeak fitThe stock lacks consistent upward price momentum and is currently tied to long-term operational turnarounds.
Value investorMixed fitWhile valuation may appear attractive, the underlying business risks and integration challenges require careful assessment.
Dividend investorWeak fitAPEI does not pay a dividend and prioritizes capital allocation for internal growth and debt management.
Low-risk investorWeak fitThe volatility inherent in the education sector and company-specific regulatory risks make this a higher-risk investment.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock is susceptible to sharp moves based on enrollment data and regulatory updates.
Valuation riskMediumInvestors face risk if growth expectations for nursing programs are not met.
Competition risk (sector saturation)Medium / highIntense competition from non-profit and other for-profit players pressures pricing and margins.
Business qualityMediumAPEI relies on specialized niches that are sensitive to policy changes.
Dividend incomeLow / noneThere is no dividend income to provide a buffer during market downturns.
Execution riskMedium / highSuccess depends on the complex integration of varied educational institutions and systems.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit 28%
Avg. Invested days 36
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/01/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
APEI receives a 3-star rating, supported by solid company fundamentals, and solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
APEI has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, strong earnings growth (+95.8%) and solid cash generation (FCF margin 7.1%) are partially offset by moderate revenue growth (+3.9%), soft profitability (net margin 4.9%), modest insider ownership of 4.95%.

Financial Health Rating

★★★★★
APEI's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 34.0%). Profitability is moderate (3 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is APEI's strongest growth driver at +95.8% FY2025 versus FY2024 (strong, 5 stars). By comparison, free-cash-flow growth (+65.9%, strong) is also strong, while revenue growth (+3.9%, moderate) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 109.7% and approximately 81.7% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 4.95% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 9.68%
325 Capital LLC 6.47%
FMR Inc 6.47%
Divisadero Street Capital Management, LP 6.39%
Renaissance Technologies Corp 4.98%

Unit Economics (Per $1K Revenue)

★★★★★
APEI generates approximately $517 of gross profit, $83 of operating income, and $71 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Moderate margins and solid cash conversion support a 3-star rating, while capital efficiency is moderate.

Economic Dimensions

★★★★★
Effective Tax Rate: 27.80%

Quantitative Style Profile

★★★★★
APEI has a liquid profile. Weak momentum is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

Value-OrientedHigh VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 771.96M USD
Price to earnings Ratio 17.08
1Y Target Price 62.83
Price to earnings Ratio 17.08
1Y Target Price 62.83
Volume (30-day avg) 267.2K shares
Beta 1.39
52 Weeks Range 30.20 - 61.59
Updated Date 10/01/2026
52 Weeks Range 30.20 - 61.59
Updated Date 10/01/2026
Dividends yield (FY) -
Basic EPS (TTM) 2.47

How Company Makes Money

Business areaWhat it includesRetail investor read
APUSOnline tuition and fees for degree programs mainly for military students.The core, stable engine of the business.
RasmussenTuition from nursing and health science programs.A key growth driver focused on high-demand healthcare jobs.
Corporate/OtherProfessional development and training services.A smaller, niche contributor to total revenue.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 17.08
Forward PE 14.53
Enterprise Value 743.17M
Price to Sales(TTM) 1.16
Enterprise Value 743.17M
Price to Sales(TTM) 1.16
Enterprise Value to Revenue 1.11
Enterprise Value to EBITDA 9.48
Shares Outstanding 18.30M
Shares Floating 14.94M
Shares Outstanding 18.30M
Shares Floating 14.94M
Percent Insiders 4.95
Percent Institutions 109.65

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About American Public Education Inc

Exchange NASDAQ
Headquarters Charles Town, WV, United States
IPO Launch date 2007-11-09
President, CEO & Director Ms. Angela K. Selden
Sector Consumer Defensive
Industry Education & Training Services
Full time employees 2360
Full time employees 2360

American Public Education, Inc., together with its subsidiaries, provides online and campus-based postsecondary education services in the United States. It operates through three segments: American Public University System, Rasmussen University, and Hondros College of Nursing. The company offers 181 degree programs, 110 certificate programs, and four diploma programs in various fields of study, including public service-focused fields, such as nursing, national security, military studies, intelligence, and homeland security, as well as traditional academic fields comprising business, health science, information technology, justice studies, education, and liberal arts; and career learning and leadership training in-person and online to the federal workforce. It also provides nursing-and health sciences-focused postsecondary education; and pre-licensure nursing education services focusing on a diploma in practical nursing and associate degree in nursing, as well as a bachelor of science in nursing. The company was incorporated in 1991 and is headquartered in Charles Town, West Virginia.