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Strategic Education, Inc. (STRA) stock

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NASDAQ: STRA Nasdaq Education Services Next results ~November 5, 2026

C+ Fundamentals grade

Strategic Education, Inc. is a US-listed company in the education services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$110

Cash-flow model

Base case. Range ~$87–$150 across our lower- and higher-growth cases (-0.2%–9.8% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 58% above it.

Price used: $72.57, November 2, 2026

Strategic Education, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 6 selling2 purchases and 11 sales by directors and officers, last 12 monthsInsider trades
  • Funds144 adding, 141 cuttingOf 51 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Strategic Education files

Where Strategic Education stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.29bn, up 3.5% on a year earlier, faster than the 3.0% growth a quarter earlier. Free-cash-flow margin rose to 13.1% from 10.0% a year earlier. The diluted share count is down 6.2% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $119 a share, against a share price of $81.03. At that price, our model says the market is pricing in cash flow shrinking about 2.3% a year for five years, slower than the 2.6% a year revenue growth it has delivered.

Source: 10-Q filed July 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Strategic Education, Inc.'s trailing-twelve-month revenue grew 3.5% year on year, with a free-cash-flow margin of 13.1%. Where it stands out: change in share count of -6.2% ranks 4 of 24 education services companies we cover.

Our discounted-cash-flow model values the business at ~$110 per share in the base case (~$87–$150 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 35.5% while net income grew 16.8%: a 19pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $72.57 is 58% below our value per share of $110.
  • Shrinking share count. Diluted shares fell 6.2% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed July 29, 2026
Earnings per share
$1.76 against an average estimate of $1.80: missed by 2.2%
Revenue
$337m, up 4.9% on a year earlier
Share reaction
+4.5% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Next report
November 5, 2026; average EPS estimate $1.95

Strategic Education's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.5%
  • 1 week-10.6%
  • 1 month-9.0%
  • This year-7.5%
  • 1 year-1.6%
  • 5 years+20.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.3B
Operating margin
14.0%
Net margin
10.5%
EPS (TTM, diluted)
$5.98

Growth

Revenue growth
+3.5%
Change in growth rate
+0.5 pts
Share count change
−6.2%

Cash

Free cash flow (TTM)
$169M
FCF margin
13.1%
Stock pay % of revenue
1.7%

Earnings

Last results
July 29, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Strategic Education, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 3.9% a year for five years.That is slower than the 2.6% a year revenue growth Strategic Education has delivered.

  • Priced in-3.9%
  • Last 12 months3.5%
  • 3 years a year6.1%
  • 5 years a year2.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($72.57, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$110
Price used
$72.57close November 3, 2026
Implied change
▲ +58%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Strategic Education, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($126M, FY2026 Q2 TTM), growing 3.5% and 4.4% in the next two years (forecasts, guidance and its record), then back to 4.8% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$87–~$150 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Strategic Education, Inc.'s free cash flow after stock-based pay ( $126M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Strategic Education, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$110 ~$87–$150 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$85 ~$67–$120 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$51 ~$36–$73 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$39 ~$34–$46 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$81 ~$39–$110 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Strategic Education, Inc. with Education Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▲ +29%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $88$117$156$207$274$360
8.5% $69$90$118$154$202$263
10% $57$73$95$123$159$206

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$63.99$71.93$92.18$130.94$80.14$50.28$70.59$85.72$88.74$78.43$72.57
Market value$694m$806m$1.4bn$2.9bn$1.8bn$1.2bn$1.7bn$2.1bn$2.1bn$1.8bn$1.6bn
+ Net debt (− = net cash)−$129m−$156m−$312m−$420m−$46m−$127m−$112m−$107m−$137m−$141m−$124m
Enterprise value$565m$650m$1.1bn$2.5bn$1.8bn$1.1bn$1.6bn$1.9bn$2.0bn$1.7bn$1.5bn
Multiples
Price / sales 1.6x1.8x2.2x2.9x1.8x1.1x1.6x1.8x1.8x1.4x1.3x
Price / earnings 19.9x39.1x—35.7x21.2x22.0x36.3x29.4x19.0x14.5x12.1x
Price / free cash flow 22.1x21.1x72.5x17.7x19.1x9.3x20.4x25.6x16.6x11.9x9.7x
EV / EBITDA 7.5x9.2x125.7x15.5x11.1x8.2x12.9x13.5x10.0x7.6x6.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

50 /100

Moderate moat

How hard Strategic Education's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 6 / 20

    Net income has been a median 4.8% of total assets over 10 years.

  • Durability 4 / 20

    Operating margin has been a median 7.7%; its worst year was 1.7%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 9 of 9 years, at a median 10.0% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 6.0% over five years; stock-based pay has been a median 1.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (55 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $327m and EPS of $1.95 (range $1.89 to $2.03) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.21 +17% $1.3bn +3%
Next $8.45 +17% $1.3bn +3%

Next year's EPS estimate has moved +4.4% in 90 days, across 3 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.80 $1.76 −2.2%
Mar 2026 $1.49 $1.41 −5.6%
Dec 2025 $1.41 $1.74 +23.1%
Sept 2025 $1.30 $1.63 +25.1%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Strategic Education, Inc.'s revenue by +3.5% next year and +4.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+2.6%, weight 60%) and the company's own record (+4.8%, weight 40%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy267%
Hold133%
Sell00%

Monthly trend

  1. Oct 20261113
  2. Sep 20261113

Counts of recommendations published by analysts covering Strategic Education, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.4%
of tradable shares
Days to cover
4.53
at average volume
Short interest, 1 month
−14%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
3.8%
of shares
Employees
3,683
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −1.6%

$73.73 on October 31, 2025 to $72.57

ThenNowEffect
Revenue (last 12 months) $1.2bn $1.3bn +3.5%
Net margin 9.3% 10.5% +12.8%
P/E multiple 15.4x 12.1x −21.0%
Share count 24m 22m +6.6%

Biggest factor: p/e multiple.

Last 3 years −9.6%

$80.25 on November 3, 2023 to $72.57

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.3bn +19.4%
Net margin 3.4% 10.5% +207.6%
P/E multiple 52.2x 12.1x −76.7%
Share count 24m 22m +5.9%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
STRA−37%+40%+21%+4%−12%−8%
Industry peers (median)−10%−10%+26%+25%+2%−9%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
STRA42%58%58%33%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
STRA−43%−18%−33%−29%−28%−17%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 72% from July 18, 2019 to February 23, 2022. Getting back needed a 255% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$71.12 – $86.98
From 52-week high
−16.6%
vs 50-day average
−9.8%
vs 200-day average
−8.7%
Volatility (1 year)
35%
Beta vs S&P 500
0.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±9.6%
After a week
8 up, 4 down
typical move ±8.7%
After a month
9 up, 3 down
typical move ±8.7%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 +4.5% +0.1% +2.7% +5.1%
April 23, 2026 −12.1% +0.4% −6.2% −5.4%
February 26, 2026 +8.3% −1.0% +10.8% +8.0%
November 6, 2025 +1.6% −1.0% +7.8% +3.2%
July 30, 2025 −6.7% −0.5% −1.7% +2.6%
April 24, 2025 +1.0% +2.8% +1.4% +9.9%
February 27, 2025 −17.8% −0.1% −14.9% −11.9%
November 7, 2024 +3.6% +1.2% +0.2% +2.9%
July 31, 2024 −19.8% +0.2% −24.4% −20.2%
April 25, 2024 +20.3% +0.6% +17.2% +14.7%
February 29, 2024 +14.3% +1.3% +11.0% +9.9%
November 2, 2023 +5.1% +2.8% +6.2% +10.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Strategic Education, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Strategic Education, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Strategic Education, Inc.
$1.1B $1.2B $1.2B $1.3B $1.3B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.1B Revenue (TTM), FY23 Q4: $1.1B Revenue (TTM), FY24 Q1: $1.2B Revenue (TTM), FY24 Q2: $1.2B Revenue (TTM), FY24 Q3: $1.2B Revenue (TTM), FY24 Q4: $1.2B Revenue (TTM), FY25 Q1: $1.2B Revenue (TTM), FY25 Q2: $1.2B Revenue (TTM), FY25 Q3: $1.3B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.3B Revenue (TTM), FY26 Q2: $1.3B $1.3B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.1B
FY23 Q4 $1.1B
FY24 Q1 $1.2B
FY24 Q2 $1.2B
FY24 Q3 $1.2B
FY24 Q4 $1.2B
FY25 Q1 $1.2B
FY25 Q2 $1.2B
FY25 Q3 $1.3B
FY25 Q4 $1.3B
FY26 Q1 $1.3B
FY26 Q2 $1.3B
Revenue growth, TTM YoY Strategic Education, Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 3.0% Revenue growth, TTM YoY, FY23 Q4: 6.3% Revenue growth, TTM YoY, FY24 Q1: 9.7% Revenue growth, TTM YoY, FY24 Q2: 10.6% Revenue growth, TTM YoY, FY24 Q3: 10.1% Revenue growth, TTM YoY, FY24 Q4: 7.7% Revenue growth, TTM YoY, FY25 Q1: 5.7% Revenue growth, TTM YoY, FY25 Q2: 4.3% Revenue growth, TTM YoY, FY25 Q3: 3.7% Revenue growth, TTM YoY, FY25 Q4: 4.0% Revenue growth, TTM YoY, FY26 Q1: 3.0% Revenue growth, TTM YoY, FY26 Q2: 3.5% 3.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 3.0%
FY23 Q4 6.3%
FY24 Q1 9.7%
FY24 Q2 10.6%
FY24 Q3 10.1%
FY24 Q4 7.7%
FY25 Q1 5.7%
FY25 Q2 4.3%
FY25 Q3 3.7%
FY25 Q4 4.0%
FY26 Q1 3.0%
FY26 Q2 3.5%
Operating margin (TTM) Strategic Education, Inc.
5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 6.2% Operating margin (TTM), FY23 Q4: 8.4% Operating margin (TTM), FY24 Q1: 11.8% Operating margin (TTM), FY24 Q2: 13.7% Operating margin (TTM), FY24 Q3: 14.4% Operating margin (TTM), FY24 Q4: 12.8% Operating margin (TTM), FY25 Q1: 12.5% Operating margin (TTM), FY25 Q2: 12.7% Operating margin (TTM), FY25 Q3: 12.6% Operating margin (TTM), FY25 Q4: 13.7% Operating margin (TTM), FY26 Q1: 13.8% Operating margin (TTM), FY26 Q2: 14.0% 14.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 6.2%
FY23 Q4 8.4%
FY24 Q1 11.8%
FY24 Q2 13.7%
FY24 Q3 14.4%
FY24 Q4 12.8%
FY25 Q1 12.5%
FY25 Q2 12.7%
FY25 Q3 12.6%
FY25 Q4 13.7%
FY26 Q1 13.8%
FY26 Q2 14.0%
FCF margin (TTM) Strategic Education, Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 4.6% FCF margin (TTM), FY23 Q4: 7.1% FCF margin (TTM), FY24 Q1: 10.4% FCF margin (TTM), FY24 Q2: 11.7% FCF margin (TTM), FY24 Q3: 11.9% FCF margin (TTM), FY24 Q4: 10.6% FCF margin (TTM), FY25 Q1: 9.5% FCF margin (TTM), FY25 Q2: 10.0% FCF margin (TTM), FY25 Q3: 10.5% FCF margin (TTM), FY25 Q4: 12.1% FCF margin (TTM), FY26 Q1: 13.7% FCF margin (TTM), FY26 Q2: 13.1% 13.1%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 4.6%
FY23 Q4 7.1%
FY24 Q1 10.4%
FY24 Q2 11.7%
FY24 Q3 11.9%
FY24 Q4 10.6%
FY25 Q1 9.5%
FY25 Q2 10.0%
FY25 Q3 10.5%
FY25 Q4 12.1%
FY26 Q1 13.7%
FY26 Q2 13.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Strategic Education took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.3B
  2. Selling, general and admin $425M · 33.5%
  3. Other operating costs $669M · 52.8%
  4. Operating income $174M · 13.7%
  5. Income tax $50.8M · 4.0%
  6. Net income $127M · 10.0%

Shares of revenue. Source: Strategic Education's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 441 455 634 997 1,028 1,132 1,065 1,133 1,220 1,268 1,286
EBITDA 75 71 9 160 161 133 123 144 200 223 228
Operating income 57 52 −23 111 109 74 71 95 156 174 180
Net income 35 21 −16 81 86 55 47 70 113 127 135
Diluted EPS $3.21 $1.84 −$1.03 $3.67 $3.77 $2.28 $1.94 $2.91 $4.67 $5.41 $5.98
Growth (year on year)
Revenue — +3.1% +39.4% +57.2% +3.1% +10.1% −5.9% +6.3% +7.7% +4.0% +3.5%
EBITDA — −5.8% −87.8% — +0.7% −17.5% −7.7% +17.1% +39.2% +11.3% +12.0%
Operating income — −9.2% −143.6% — −1.0% −32.4% −4.3% +34.7% +63.3% +12.0% +14.1%
Net income — −40.8% −176.0% — +6.3% −36.1% −15.3% +49.5% +61.5% +12.4% +16.8%
Diluted EPS — −42.7% −156.0% — +2.7% −39.5% −14.9% +50.0% +60.5% +15.8% +24.6%
Margins
EBITDA margin 17.1% 15.6% 1.4% 16.0% 15.7% 11.8% 11.5% 12.7% 16.4% 17.6% 17.7%
Operating margin 13.0% 11.5% −3.6% 11.1% 10.6% 6.5% 6.6% 8.4% 12.8% 13.7% 14.0%
Net margin 7.9% 4.5% −2.5% 8.1% 8.4% 4.9% 4.4% 6.2% 9.2% 10.0% 10.5%
Free-cash-flow margin 7.1% 8.4% 3.0% 16.4% 9.4% 11.6% 7.8% 7.1% 10.6% 12.1% 13.1%
Cash flow
Cash from operations 45 56 47 202 143 181 126 117 169 198 216
Capital spending 13 18 28 39 47 49 43 37 41 44 47
Free cash flow 31 38 19 163 96 131 83 80 129 154 169
Stock-based pay 11 12 16 12 15 18 22 20 26 23 22
Free cash flow after stock pay 21 26 4 151 81 113 61 60 103 131 147
Balance sheet
Cash 129 156 312 420 188 269 214 168 137 141 124
Total debt 0 0 0 0 142 142 101 61 0 0 0
Net debt (negative = net cash) −129 −156 −312 −420 −46 −127 −112 −107 −137 −141 −124
Diluted shares 11m 11m 15m 22m 23m 24m 24m 24m 24m 23m 22m
Returned to shareholders
Dividends — 11 28 47 56 59 59 59 59 58 55
Buybacks — — 0 0 0 6 40 10 12 139 152
Total returned — 11 28 47 56 65 99 69 70 196 207

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $2.1bn
Short-term assets $290mLonger-term assets $1.8bn
What it owes, and who funded it · $2.1bn
Short-term liabilities $265mLonger-term liabilities $170mShareholders' equity $1.6bn
  • Short-term assets cover short-term liabilities $290m of assets due within a year against $265m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $290m short-term assets against $170m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Strategic Education, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$152M
Dividends (TTM)
$55.3M
Returned to shareholders
123%
of free cash flow
Buybacks, last 3 fiscal years
$160M
Diluted share count
−6.2%
year over year
Total shareholder yield
12.8%
dividends 3.4% + buybacks 9.4% of market value
Dividend payout ratio
41%
of net income paid out
Days sales outstanding
29 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in education services
Last 12 months unless stated STRA LOPE UTI LAUR PRDO CVSA Median
Revenue, last 12 months $1.3bn $1.1bn $884m $1.9bn $859m $2.0bn $266m
Revenue growth, last 12 months 3.5% 7.0% 9.1% 20.9% 11.7% 9.3% 7.5%
Revenue growth, 3-year average 6.1% 7.2% 17.3% 10.5% 5.7% 11.0% 10.3%
Revenue growth, latest quarter 4.9% 6.7% 7.2% 21.2% 1.8% 10.7% 5.8%
Gross margin — — — 28.6% — 57.4% 54.6%
Operating margin 14.0% 24.5% 5.0% 25.8% 24.6% 19.8% 5.0%
Operating margin, 3-year average 13.5% 26.0% 7.2% 24.2% 23.8% 18.4% 5.9%
Net margin 10.5% 19.6% 3.9% 20.3% 20.6% 12.8% 3.9%
Cash from operations / revenue 16.8% 24.4% 8.4% 21.8% 26.2% 22.7% 8.4%
Free-cash-flow margin 13.1% 21.2% −2.6% 15.0% 25.4% 17.7% 5.8%
Free-cash-flow margin, 3-year average 11.6% 22.7% 4.5% 14.2% 24.1% 16.7% 5.4%
Stock pay / revenue 1.7% 1.2% 1.4% 0.7% 1.5% 2.1% 1.4%
Change in share count −6.2% −5.3% 0.3% −3.7% −3.8% −7.2% 0.7%

Median of all 25 companies we cover in education services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 education services companies
Measure Company Peer median Rank
Revenue growth Growth 3.5% 7.5% 15 of 25
Change in growth rate Growth +0.5pp -0.5pp 11 of 25
Operating margin Profitability 14.0% 5.0% 8 of 25
Net margin Profitability 10.5% 3.9% 10 of 25
Free-cash-flow margin Cash generation 13.1% 5.8% 10 of 25
Stock pay as % of revenue Cash generation 1.7% 1.4% 15 of 21
Change in share count Balance sheet -6.2% 0.7% 4 of 24
Days sales outstanding Balance sheet 29 days 29 days 10 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
US Higher Education $868M 68.5% ▲ 1.2%
Australia New Zealand $252M 19.8% ▼ 2.2%
Education Technology Services $148M 11.7% ▲ 41.4%
Geography
Region Revenue Share YoY
United States $1B 80.2% ▲ 5.6%
Outside the US $252M 19.8% ▼ 2.2%

From Strategic Education, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.7B
Institutions reporting
288
Shares held vs prior quarter
▲ 0.7%
Positions opened / closed
38 / 35

Top buyers and sellers, Q2 2026: 144 institutions bought and 141 sold ; the biggest buyer was LSV Asset Management (+467K shares) and the biggest seller Goldman Sachs Group Inc (−305K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $291M 3.8M 17.2% ▲ 2.7%
Vanguard Portfolio Management LLC $112M 1.5M 6.6% ▲ 2.9%
Dimensional Fund Advisors LP $112M 1.5M 6.6% ▼ 0.1%
Bank Of Montreal $96.3M 1.3M 5.7% ▼ 10.7%
Vanguard Capital Management LLC $72.4M 945K 4.3% ▼ 3.5%
State Street Corp $69.7M 910K 4.1% ▲ 3.8%
Geode Capital Management, LLC $45.9M 599K 2.7% ▲ 1.3%
T. Rowe Price Investment Management, Inc. $45.4M 593K 2.7% ▼ 26.7%
Morgan Stanley $45.3M 592K 2.7% ▲ 90.3%
Marshfield Associates $42.8M 559K 2.5% ▼ 29.5%
LSV Asset Management $42M 548K 2.5% ▲ 580.2%
Arrowstreet Capital, Limited Partnership $34.3M 448K 2.0% ▼ 1.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Strategic Education, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $106,381 2 trades by 2 insiders, last 12 months Insider sales History → $5.2M 11 trades by 6 insiders · 97% under pre-set plans
Net ▼ $5.1M net selling
Insider Date Trade Shares Price Value
Hokenson Christa CHIEF HUMAN RESOURCES OFFICER June 4, 2026 Sell pre-set plan 2,000 $80.00 $160,000
Waite G Thomas Iii Director May 5, 2026 Sell 666 $77.68 $51,735
Thawley Michael Director April 24, 2026 Buy 665 $72.71 $48,352
Herraiz Lizette Benedi GENERAL COUNSEL March 18, 2026 Sell pre-set plan 2,982 $79.88 $238,202
Herraiz Lizette Benedi GENERAL COUNSEL March 13, 2026 Sell pre-set plan 4,912 $80.20 $393,942
Herraiz Lizette Benedi GENERAL COUNSEL March 13, 2026 Sell pre-set plan 2,686 $79.54 $213,644
Silberman Robert S CHAIRMAN March 13, 2026 Buy 718 $80.82 $58,029
Jackson Daniel Wayne CHIEF FINANCIAL OFFICER March 2, 2026 Sell pre-set plan 5,273 $82.51 $435,075
Jackson Daniel Wayne CHIEF FINANCIAL OFFICER March 2, 2026 Sell pre-set plan 2,052 $83.75 $171,855
Jackson Daniel Wayne CHIEF FINANCIAL OFFICER March 2, 2026 Sell pre-set plan 5,675 $81.73 $463,818
Mcdonnell Raymond Karl CHIEF EXECUTIVE OFFICER February 24, 2026 Sell pre-set plan 20,788 $75.55 $1.6M
Mcdonnell Raymond Karl CHIEF EXECUTIVE OFFICER February 24, 2026 Sell pre-set plan 18,052 $75.12 $1.4M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • April 23, 2026
  • February 26, 2026
  • November 6, 2025
  • July 30, 2025
  • April 24, 2025

Recent SEC filings

Data status

When each part of this page on Strategic Education, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Strategic Education, Inc. in brief

What does Strategic Education, Inc. do?
Strategic Education, Inc. is a US-listed company in the education services industry. Its financial year ends in December.
What is Strategic Education, Inc.'s stock ticker?
Strategic Education, Inc. trades under the ticker STRA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Strategic Education, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Strategic Education, Inc. reported revenue of $1.3B, 3.5% higher than a year earlier, according to its SEC filings.
What is Strategic Education, Inc.'s free cash flow?
Strategic Education, Inc.'s free-cash-flow margin is 13.1% of revenue over the trailing twelve months, ranking 10 of the 25 education services companies we cover.
What is Strategic Education, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Strategic Education, Inc.'s free cash flow after stock-based pay gives ~$110 per share in the base case, and ~$87–$150 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Strategic Education, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Strategic Education, Inc. buying back stock, and does it pay a dividend?
Strategic Education, Inc. spent $152M on share repurchases over the trailing twelve months, and its diluted share count fell 6.2% over the year.
What is Strategic Education, Inc.'s market cap?
On November 2, 2026, Strategic Education, Inc.'s market capitalisation was about $1.6B, with a price-to-earnings ratio of 12.1 and net debt of -$124M. Market figures come from third-party market data and may be delayed.
Does Strategic Education, Inc. pay a dividend?
Yes: Strategic Education, Inc. paid $55.3M in dividends over the trailing twelve months, a dividend yield of 3.43% and a payout ratio of 41.1%.
Who are Strategic Education, Inc.'s competitors?
In our Education Services peer group, the companies closest to Strategic Education, Inc. are Grand Canyon Education, Inc., Universal Technical Institute Inc, Laureate Education, Inc., Perdoceo Education Corp and Covista Inc. The side-by-side comparison below sets their revenue, margins and growth against Strategic Education, Inc.'s.
Are insiders buying or selling Strategic Education, Inc. stock?
Over the last 12 months, Strategic Education, Inc.'s directors and officers reported 2 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Strategic Education, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Strategic Education, Inc. announces its own schedule.