Lincoln Educational Services Corp

Real Estate
Other Consumer Services
www.lincolntech.edu

Earnings Score
Moat Score

Market Cap $497.00M
PE 50
Debt $NaN
Cash $53.96M
EV $NaN
FCF -$23.16M

Earnings

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Sales & Net Margins

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Earnings	$9.85M
EBIT	$13.67M
ROE	6%
ROA	3%
FCF	-$23.16M
Equity	$169.96M
Growth Stability	43%
PE	50.46
PEG	4.1
PB	2.92
P/FCF	-21.46
P/S	1.17
Price/Cash	0.11
Net Margins	1%
Gross Margins	58%
Op. Margins	3%
Earnings CAGR	9%
Sales Growth YoY	15%
Sales Growth QoQ	11%
Sales CAGR	11%
FCF CAGR	-1%
Equity CAGR	13%
Earnings Stability	0.08
Earnings Growth YoY	92%

Earnings Growth QoQ	-680%
Earnings CAGR 5Y	12%
Sales CAGR 5Y	9%
FCF CAGR 5Y	-6%
Equity CAGR 5Y	36%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
FCF CAGR 3Y	-8%
Equity CAGR 3Y	13%
Market Cap	$497.00M
Revenue	$423.21M
Assets	$404.02M
Cash	$53.96M
Shares Outstanding	30.55M
Earnings Score	7%
Moat Score	51%
Working Capital	41.98M
Current Ratio	1.57
Gross Profit	$245.55M
Shares Growth 3y	9%
Equity Growth QoQ	3%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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Lincoln Educational Services Corp provides diversified career-oriented post-secondary education to high school graduates and working adults. The company offers programs in automotive technology, skilled trades, healthcare services, hospitality services and business and information technology. Its business is organized into three reportable business segments: Transportation and Skilled Trades, Healthcare and Other Professions (HOPS), and Transitional. It derives most of the revenue from the Transportation and Skilled Trades segment which offers academic programs mainly in the career-oriented disciplines of transportation and skilled trades such as automotive, diesel, HVAC, welding, and manufacturing.

SEC Filings

Direct access to Lincoln Educational Services Corp (LINC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

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

Sector Comparison

How does Lincoln Educational Services Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Lincoln Educational Services Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 9%

Stability 8%

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Lincoln Educational Services Corp Discounted Cash Flow

Fully customizable DCF calculator online for Lincoln Educational Services Corp.

Years

Calculation mode

= -$222M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$23M	-$23M	-$23M	-$23M	-$23M	-$22M	-$22M	-$22M	-$22M	-$22M	-$22M	-$217M
DCF		-$21M	-$19M	-$17M	-$15M	-$14M	-$13M	-$11M	-$10M	-$9.3M	-$8.4M	-$84M
Value	-$222M

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-28%	-2%	-14%	-4%	-2%	1%	13%	8%	3%	7%	1%
ROA	-	0%	-3%	-3%	-3%	3%	6%	17%	6%	10%	3%
ROE	-	-4%	-52%	-25%	-16%	4%	40%	20%	6%	16%	6%

Bad Net Margins (0.95%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher 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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	5.69	-6.76	-3.32	-9.98	-8.38	1.11	0	-	-	-
Debt over Equity	1.15	0.85	1.19	1.17	1.6	0.85	0.22	0	-	-	-
Growth Stability	-	-	-	-	-	-	-	100%	43%	100%	43%

Neutral Debt/FCF ratio (-)

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.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (43%)

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-5%	2%	33%	1%	4%	7%	14%	4%	9%	9%
Earnings YoY growth	-	-94%	745%	-59%	-43%	-129%	2K%	-29%	-65%	182%	12%
Equity YoY growth	-	-2%	-32%	-17%	-13%	8%	111%	42%	12%	15%	36%
FCF YoY growth	-	166%	-180%	66%	-60%	-31%	-507%	11%	-141%	87%	-6%