American Public Education Inc. Common Stock (APEI)

FairStock Score: 29/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

FairStock labels American Public Education a TURNAROUND because it returned to profit after a loss within the last three years. In FY2023 it lost $47.3 million, then earned $16.1 million in FY2024 and $31.6 million in FY2025. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $171.7 million and net income was $9.8 million. That is real improvement, and trailing free cash flow of $70.1 million against an $886.3 million market cap gives a 7.9% FCF yield, a respectable cash return. The balance sheet looks reasonable, with debt-to-equity of 0.49 and an Altman Z-Score of 3.23. But this is a competitive, regulated education market. Online degrees in nursing, national security, and military studies may have some switching costs and accreditation barriers, but I do not see a wide moat. Returns are mixed: ROE of 15.58%, ROCE of 7.92%, and a Piotroski F-Score of 5/9. Valuation at the 2026-10-13 close of $48.43 is not Graham-cheap: P/E of 19.61, P/B of 2.83, and a Graham Number of $30.83 imply the price is 57% above that conservative anchor. PEG of 0.17 is attractive if growth persists, but a FairStock Score of 29/100 and a 5.69% latest-quarter net margin leave little room for error. Management has moved from loss to profit, but I would want more consistent margins and cash generation before calling it a bargain.

In plain English: American Public Education runs online and campus colleges, mostly in nursing, military, and public service fields. It lost money in 2023 but has been profitable again in 2024 and 2025, and it produces solid cash flow. At $48.43 a share, the price looks expensive compared with conservative measures of its value, so the numbers do not scream bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer