Adtalem Global Education Inc.

Real Estate
Other Consumer Services
www.adtalem.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.29B
PE 19
Debt $658.28M
Cash $264.80M
EV $3.68B
FCF $241.40M

Earnings

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Sales & Net Margins

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Earnings	$172.30M
EBIT	$259.10M
ROE	12%
ROA	9%
FCF	$241.40M
Equity	$1.39B
Growth Stability	-102%
PE	19.08
PEG	-5.07
PB	2.37
P/FCF	13.62
P/S	2.01
Price/Cash	0.08
Debt/Equity	0.47
Debt/FCF	2.73
Net Margins	11%
Gross Margins	56%
Op. Margins	16%
Earnings CAGR	12%
Sales Growth YoY	13%
Sales Growth QoQ	2%
Sales CAGR	1%
FCF CAGR	4%
Equity CAGR	-2%
Earnings Stability	0.19
Earnings Growth YoY	334%
Earnings Growth QoQ	-7%

Earnings CAGR 5Y	-4%
Sales CAGR 5Y	10%
FCF CAGR 5Y	13%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
FCF CAGR 3Y	40%
Equity CAGR 3Y	-2%
Market Cap	$3.29B
Revenue	$1.63B
Assets	$2.82B
Total Debt	$658.28M
Cash	$264.80M
Shares Outstanding	37.53M
EV	3.68B
Earnings Score	10%
Moat Score	91%
Safety Score	61%
Final Score	54%
Working Capital	-34.4M
Current Ratio	0.94
Gross Profit	$917.28M
Shares Growth 3y	-9%
Equity Growth QoQ	2%
Equity Growth YoY	1%

Assets & ROA

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Stockholders Equity & ROE

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Adtalem Global Education Inc is an American for-profit educational company that operates various university and educational programs. The company runs eight colleges and universities that specialize in business, medicine, education, and nursing degree programs. DeVry Education Group has over 90 campuses as well as online courses that offer associate, bachelor, and postgraduate degrees. Enrollment in its business colleges represents almost half of overall student enrollment, followed by technology and healthcare. The company derives the majority of its revenue from student enrollment fees using federal financial aid programs such as Pell Fund grants.

SEC Filings

Direct access to Adtalem Global Education Inc. (ATGE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31

Sector Comparison

How does Adtalem Global Education Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Adtalem Global Education Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 12%

Stability 19%

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Adtalem Global Education Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Adtalem Global Education Inc..

Years

Calculation mode

= $3.1B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$241M	$250M	$259M	$268M	$277M	$287M	$297M	$308M	$319M	$330M	$342M	$3.4B
DCF		$227M	$214M	$201M	$189M	$178M	$168M	$158M	$149M	$140M	$132M	$1.3B
Value	$3.1B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Net Margins	7%	-0%	10%	3%	8%	-8%	7%	23%	6%	9%	11%
ROA	-	-1%	6%	9%	9%	12%	6%	3%	6%	8%	9%
ROE	-	-0%	7%	2%	7%	-7%	6%	21%	6%	10%	12%

Good Net Margins (11.06%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Debt over FCF	-	-	0.7	1.75	2.54	2.82	6.27	6.47	4.2	2.67	2.73
Debt over Equity	-	-	0.07	0.2	0.29	0.23	0.84	0.57	0.49	0.48	0.47
Growth Stability	-	-	-	39%	100%	-102%	100%	100%	91%	84%	-102%

Neutral Debt/FCF ratio (2.73)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.47)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-102%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	CAGR 5Y
Revenue YoY growth	-	-43%	12%	2%	1%	-15%	6%	25%	5%	9%	10%
Earnings YoY growth	-	-102%	-4K%	-72%	182%	-190%	-189%	315%	-71%	47%	-4%
Equity YoY growth	-	-0%	5%	-9%	-8%	-6%	-1%	16%	-3%	-6%	2%
FCF YoY growth	-	42%	10%	-4%	-6%	-35%	66%	-24%	27%	46%	13%