A Business at a Glance
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ITEM 1. BUSINESS We provide career-focused, post-secondary education services to students at all stages of adult life, from recent high school graduates to working parents, through our accredited academic institutions: High Desert Medical College, which we acquired in July 2010, Central Coast College, which we acquired in January 2019, Integrity College of Health which we acquired in September 2020, and Contra Costa Medical Career College, which we acquired in December 2024. High Desert Medical College (“HDMC”) HDMC was established in the State of California in 2002 and began offering classes in 2003. It started with campuses in Lancaster, California, and added its first branch in 2008 in Bakersfield, California. Due to enrollment growth and high demand for its services, HDMC expanded to add a branch campus in Temecula, California in order to accommodate 250 to 400 additional students.
| Metric | TTM | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | 75M | 64M | 46M | 35M |
| Net Income | 8.3M | 7.5M | 5.1M | 2.7M |
| EPS | $0.60 | $0.59 | $0.53 | $0.28 |
| Free Cash Flow | 4.8M | 6.9M | 1.2M | 1.6M |
| ROIC | 161.7% | 372.7% | 187.9% | 16.2% |
| Gross Margin | - | - | - | - |
| Debt/Equity | 0.01 | 0.03 | 0.03 | 0.05 |
| Dividends/Share | $0.00 | - | - | $0.10 |
| Operating Income | 11M | 10.0M | 6.2M | 3.6M |
| Operating Margin | 14.5% | 15.6% | 13.5% | 10.2% |
| ROE | 18.0% | 23.7% | 22.8% | 17.3% |
| Shares Outstanding | 13M | 13M | 10M | 10M |
| Metric | 2023 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 35M | 46M | 64M | 75M |
| Gross Margin | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | 11M | 13M | 19M | 23M |
| EBIT | 3.6M | 6.2M | 10.0M | 11M |
| Op. Margin | 10.2% | 13.5% | 15.6% | 14.5% |
| Net Income | 2.7M | 5.1M | 7.5M | 8.3M |
| Net Margin | 7.5% | 11.1% | 11.7% | 11.0% |
| Non-Recurring | 0 | 0 | 0 | -4K |
| Returns on Capital | ||||
| ROIC | 16.2% | 187.9% | N/M | 161.7% |
| ROE | 17.3% | 22.8% | 23.7% | 18.0% |
| ROA | 9.8% | 14.5% | 14.4% | 11.3% |
| Cash Flow | ||||
| Op. Cash Flow | 1.8M | 1.6M | 7.8M | 6.0M |
| Free Cash Flow | 1.6M | 1.2M | 6.9M | 4.8M |
| Owner Earnings | 1.5M | -498K | 6.8M | 4.5M |
| CapEx | 195K | 424K | 844K | 1.2M |
| Maint. CapEx | 224K | 265K | 442K | 552K |
| Growth CapEx | 0 | 159K | 403K | 654K |
| D&A | 224K | 265K | 442K | 552K |
| CapEx/OCF | N/A | N/A | 10.9% | 20.0% |
| Capital Allocation | ||||
| Dividends Paid | 917K | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | 1.9M | 553K | 942K |
| Debt Repayment | 168K | 171K | 331K | 1.0M |
| Balance Sheet | ||||
| Net Debt | -18M | -20M | -39M | -41M |
| Cash & Equiv. | 9.3M | 10M | 20M | 42M |
| Long-Term Debt | 45K | 124K | 481K | 49K |
| Debt/Equity | 0.05 | 0.03 | 0.03 | 0.01 |
| Interest Coverage | 37.6 | 52.6 | 88.6 | 101.8 |
| Equity | 15M | 22M | 41M | 46M |
| Total Assets | 27M | 35M | 69M | 73M |
| Total Liabilities | 12M | 13M | 28M | 27M |
| Intangibles | 3.0M | 3.0M | 11M | 11M |
| Retained Earnings | 1.1M | 6.2M | 14M | 18M |
| Working Capital | 8.9M | 14M | 23M | 28M |
| Current Assets | 17M | 25M | 37M | 42M |
| Current Liabilities | 8.5M | 10M | 14M | 14M |
| Per Share Data | ||||
| EPS | 0.28 | 0.53 | 0.59 | 0.60 |
| Owner EPS | 0.16 | -0.05 | 0.53 | 0.36 |
| Book Value | 1.62 | 2.32 | 3.21 | 3.65 |
| Cash Flow/Share | 0.19 | 0.17 | 0.61 | 0.70 |
| Dividends/Share | 0.10 | N/A | N/A | 0.00 |
| Shares Out. | 9.5M | 9.7M | 12.8M | 12.6M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | 19.8 | 23.0 |
| P/FCF | N/A | N/A | 21.6 | 36.0 |
| EV/EBIT | N/A | N/A | 11.0 | 12.1 |
| Price/Book | N/A | N/A | 3.6 | 3.8 |
| Price/Sales | N/A | N/A | 1.5 | 2.3 |
| FCF Yield | N/A | N/A | 4.6% | 2.8% |
| Market Cap | N/A | N/A | 149M | 174M |
| Avg. Price | N/A | N/A | 7.48 | 13.79 |
| Year-End Price | N/A | N/A | 11.69 | 13.79 |
Legacy Education Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
Legacy Education Inc. trades at 23.0x trailing earnings, compared to its 15-year median P/E of 19.8x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 36.0x vs a median of 21.6x. The company's 5-year average ROIC is 102.1%.
Legacy Education Inc. (LGCY) has a current P/E ratio of 23.0, compared to its historical median P/E of 19.8. The stock is currently considered Expensive based on its historical valuation range.
Legacy Education Inc. (LGCY) has a 5-year average return on invested capital (ROIC) of 102.1%. This indicates strong capital allocation and a potential competitive advantage.
Legacy Education Inc. (LGCY) has a market capitalization of $174M. It is classified as a small-cap stock.
Legacy Education Inc. (LGCY) does not currently pay a regular dividend.
Based on historical P/E analysis, Legacy Education Inc. (LGCY) appears expensive. The current P/E of 23.0 is 16% above its historical median of 19.8.
Legacy Education Inc. (LGCY) operates in the Services-Educational Services industry, within the Consumer Cyclical sector.
Legacy Education Inc. (LGCY) reported annual revenue of $64 million in its most recent fiscal year, based on SEC EDGAR filings.
Legacy Education Inc. (LGCY) has a net profit margin of 11.7%. This is a healthy margin.
Legacy Education Inc. (LGCY) generated $7 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Legacy Education Inc. (LGCY) has a debt-to-equity ratio of 0.03. This indicates a conservatively financed balance sheet.
Legacy Education Inc. (LGCY) reported earnings per share (EPS) of $0.59 in its most recent fiscal year.
Legacy Education Inc. (LGCY) has a return on equity (ROE) of 23.7%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 3 years of financial data for Legacy Education Inc. (LGCY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Legacy Education Inc. (LGCY) has a book value per share of $3.21, based on its most recent annual SEC filing.