# Lincoln Educational Services Corporation (LINC)

**Exchange:** NASDAQ  
**Sector:** Consumer Defensive  
**Market cap:** $1M  
**Price:** $47.43 (+2.26%)

> Lincoln Educational Services Corporation provides career-oriented post-secondary education and specialized technical training to recent high school graduates and working adults. The company operates a network of campuses focused on delivering hands-on programs in high-demand fields such as skilled trades, automotive technology, health sciences, and information technology. Its primary segments include Campus Operations, which drive core performance through ongoing educational services, and Transitional, managing campuses designated for closure during teach-out phases, alongside unallocated corporate activities. Lincoln Educational Services Corporation emphasizes practical skills development to meet workforce needs in these sectors, supporting student enrollment through targeted programs and campus facilities. Founded in 1946 and headquartered in Parsippany, New Jersey, it plays a key role in the for-profit education market by addressing skilled labor shortages with accessible vocational training options.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $518M | $313M | $30M | $20M | $0.64 |
| 2024 | $440M | $258M | $15M | $10M | $0.32 |
| 2023 | $378M | $216M | $33M | $26M | $0.85 |
| 2022 | $348M | $200M | $16M | $13M | $0.36 |
| 2021 | $335M | $196M | $49M | $35M | $1.04 |
| 2020 | $293M | $171M | $15M | $49M | $1.49 |
| 2019 | $273M | $150M | $5M | $2M | $0.08 |
| 2018 | $263M | $138M | -$4M | -$11M | $-0.48 |
| 2017 | $262M | $132M | -$5M | -$11M | $-0.48 |
| 2016 | $286M | $141M | -$29M | -$28M | $-1.21 |
| 2015 | $306M | $154M | $704,000 | -$3M | $-0.14 |
| 2014 | $218M | $115M | -$24M | -$56M | $-2.46 |
| 2013 | $216M | $113M | -$3M | -$51M | $-2.28 |
| 2012 | $380M | $202M | -$13M | -$37M | $-1.68 |
| 2011 | $457M | $260M | $35M | $18M | $0.79 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $493M | $293M | $200M | $29M | — |
| 2024 | $437M | $258M | $178M | $59M | — |
| 2023 | $345M | $178M | $167M | $76M | — |
| 2022 | $292M | $147M | $145M | $46M | — |
| 2021 | $295M | $154M | $129M | $83M | — |
| 2020 | $245M | $142M | $91M | $38M | $18M |
| 2019 | $195M | $140M | $43M | $24M | $35M |
| 2018 | $146M | $106M | $40M | $18M | $49M |
| 2017 | $155M | $109M | $46M | $15M | $53M |
| 2016 | $163M | $108M | $55M | $21M | $42M |
| 2015 | $208M | $127M | $81M | $38M | $59M |
| 2014 | $214M | $131M | $83M | $12M | $3M |
| 2013 | $306M | $161M | $145M | $13M | $5M |
| 2012 | $347M | $148M | $198M | $62M | $6M |
| 2011 | $362M | $123M | $239M | $27M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $59M | $87M | -$27M |
| 2024 | $29M | $57M | -$28M |
| 2023 | $26M | $41M | -$15M |
| 2022 | $882,000 | $9M | -$8M |
| 2021 | $27M | $8M | $20M |
| 2020 | $23M | $6M | $18M |
| 2019 | $988,000 | $5M | -$4M |
| 2018 | -$2M | $5M | -$6M |
| 2017 | -$11M | $5M | -$16M |
| 2016 | -$6M | $4M | -$10M |
| 2015 | $14M | $2M | $12M |
| 2014 | $12M | $7M | $5M |
| 2013 | $3M | $7M | -$3M |
| 2012 | $16M | $9M | $7M |
| 2011 | $37M | $38M | -$1M |

Source: [CompaniesByCap](https://companiesbycap.com/company/LINC)