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Companies / Consumer Discretionary / American Public Education, Inc.
APEI

American Public Education, Inc.

Consumer DiscretionaryProfessional Services
Ticker APEICHARLES TOWN, WVFiscal year ends DecemberBook value per share $16.70Diluted shares 18.8M

American Public Education, Inc. (Nasdaq: APEI) provides online and campus-based postsecondary education through American Public University System (APUS), Rasmussen University (RU), and Hondros College of Nursing (HCN). Its institutions serve approximately 108,600 students and offer programs in nursing, health… From the company’s description.

Over the twelve months to Jun 30, 2026, American Public Education, Inc. reported revenue of $668.01M, up 3.6% from a year earlier, and net income of $45.67M. Its operating margin was 9.6%, and operations generated $85.60M in cash. In fiscal 2025, it reported revenue of $648.86M, up 3.9% from fiscal 2024, and net income of $31.56M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$648.86MFY2025
+3.9% year over year
Last 12 mo $668.01M
7.39%FY2025
+2.1 percentage points
Last 12 mo 9.56%
$31.56MFY2025
+95.8% year over year
Last 12 mo $45.67M
10.71%FY2025
+5.4 percentage points
Last 12 mo 14.54%
Cash & financing
$61.97MFY2025
+26.8% year over year
Last 12 mo $85.60M
$46.10MFY2025
+65.9% year over year
Last 12 mo $70.07M
0.32FY2025
Was 0.31× a year earlier
Last 12 mo 0.45
18.7MFY2025
+2.8% year over year
Last 12 mo 18.8M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What American Public Education, Inc. does

In the company’s own words

American Public Education, Inc. (Nasdaq: APEI) provides online and campus-based postsecondary education through American Public University System (APUS), Rasmussen University (RU), and Hondros College of Nursing (HCN). Its institutions serve approximately 108,600 students and offer programs in nursing, health sciences, business, information technology, national security, education, and other fields. APUS delivers education exclusively online, principally to military members, veterans, military families, and working adults through American Military University and American Public University. RU offers nursing and health sciences programs online and at campuses across five states, alongside programs in business, technology, and education. HCN provides practical nursing diplomas and associate degrees in nursing at campuses across three states, with some online coursework. For fiscal 2025, the company reports three segments: APUS, RU, and HCN; beginning in 2026, these are organized as APU Global and RU Health+. Its institutions offer 181 degree programs, 110 certificate programs, and four diploma programs.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Professional Services
Headquarters
CHARLES TOWN, WV
Fiscal year end
December
CIK
1201792
SIC
8200

Financial performance, year by year

Fiscal 2011–2025 · USD
$-193.29M$41.61M$276.51M$511.41M$746.31M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns American Public Education, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

222
funds hold it
1 of 35
superinvestors hold it
$342.37M
held by funds, at market
34.4%
of shares held by funds

Superinvestors in American Public Education, Inc. · what they did last quarter

Polen CapitalDECREASED -1.1%
Polen Capital Management
<0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · American Public Education, Inc.’s weight in each

Fidelity Small Cap Value Fund
FCPVX · Fidelity Securities Fund
—of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.03%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do American Public Education, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of American Public Education, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in American Public Education, Inc.'s last four quarterly filings that the numbers alone won't show?”
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