A Business at a Glance
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Stride, Inc.
LRN
$4.2B
Mkt Cap
$86.88
+0.94%
Stride, Inc. (LRN) has a current P/E ratio of 13.3, compared to its historical median P/E of 24.3. The stock is currently considered Fair based on its historical valuation range.
Stride, Inc. (LRN) has a 5-year average return on invested capital (ROIC) of 18.0%. This indicates strong capital allocation and a potential competitive advantage.
Stride, Inc. (LRN) has a market capitalization of $3.7B. It is classified as a mid-cap stock.
Stride, Inc. (LRN) does not currently pay a regular dividend.
Based on historical P/E analysis, Stride, Inc. (LRN) appears fair. The current P/E of 13.3 is 45% below its historical median of 24.3. The estimated fair value CAGR (P/E method) is 40.6%.
Stride, Inc. (LRN) operates in the Services-Educational Services industry, within the Consumer Cyclical sector.
Stride, Inc. (LRN) reported annual revenue of $2.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Company Overview We are a technology company providing an educational platform to deliver online learning to students throughout the U.S. Our platform hosts products and services to attract, enroll, educate, track progress, and support students. These products and services, spanning curriculum, systems, instruction, and support services, are designed to help learners of all ages reach their full potential through inspired teaching and personalized learning. Our clients are primarily public and private schools, school districts, and charter boards. Additionally, we provide solutions to employers, government agencies and consumers. We provide a wide range of products and services across our platform with the ability to deliver customized solutions. Our comprehensive school-as-a-service offering supports our clients in operating full-time virtual schools in the K-12 market. Together with our network of online schools, Stride has served millions of students with our products and services.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.5B | 2.4B | 2.0B | 1.8B | 1.7B | 1.5B |
| Net Income | 308M | 288M | 204M | 127M | 107M | 71M |
| EPS | $7.17 | $5.95 | $4.69 | $2.97 | $2.52 | $1.71 |
| Free Cash Flow | 414M | 431M | 277M | 199M | 197M | 131M |
| ROIC | 23.5% | 26.6% | 20.2% | 14.3% | 14.9% | 13.8% |
| Gross Margin | 38.3% | 39.2% | 37.4% | 35.2% | 35.4% | 34.8% |
| Debt/Equity | 0.29 | 0.31 | 0.38 | 0.47 | 0.55 | 0.41 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 402M | 360M | 250M | 165M | 157M | 110M |
| Operating Margin | 15.8% | 15.0% | 12.2% | 9.0% | 9.3% | 7.2% |
| ROE | 18.8% | 21.7% | 19.2% | 14.4% | 13.2% | 9.7% |
| Shares Outstanding | 43M | 48M | 44M | 43M | 43M | 42M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 920M | 948M | 873M | 889M | 918M | 1.0B | 1.0B | 1.5B | 1.7B | 1.8B | 2.0B | 2.4B | 2.5B |
| Gross Margin | 38.1% | 35.9% | 37.4% | 37.3% | 35.4% | 34.7% | 33.4% | 34.8% | 35.4% | 35.2% | 37.4% | 39.2% | 38.3% |
| R&D | 14M | 14M | 10M | 12M | 9.2M | 9.5M | 9.7M | 3.7M | 7.5M | 16M | 17M | 17M | 17M |
| SG&A | 313M | 308M | 302M | 306M | 300M | 307M | 315M | 424M | 440M | 482M | 514M | 524M | 511M |
| EBIT | 23M | 18M | 14M | 13M | 26M | 45M | 32M | 110M | 157M | 165M | 250M | 360M | 402M |
| Op. Margin | 2.5% | 1.9% | 1.6% | 1.5% | 2.8% | 4.5% | 3.1% | 7.2% | 9.3% | 9.0% | 12.2% | 15.0% | 15.8% |
| Net Income | 20M | 11M | 9.0M | 451K | 28M | 37M | 25M | 71M | 107M | 127M | 204M | 288M | 308M |
| Net Margin | 2.1% | 1.2% | 1.0% | 0.1% | 3.0% | 3.7% | 2.4% | 4.6% | 6.4% | 6.9% | 10.0% | 12.0% | 12.2% |
| Non-Recurring | 6.4M | 1.5M | 1.7M | 4.0M | 0 | 0 | 1.5M | 2.4M | 3.7M | 3.4M | 4.6M | 66M | 66M |
| Returns on Capital | |||||||||||||
| ROIC | 4.1% | 3.4% | 2.4% | 2.3% | 7.3% | 38.8% | 5.8% | 13.8% | 14.9% | 14.3% | 20.2% | 26.6% | 23.5% |
| ROE | 3.7% | 2.1% | 1.6% | 0.1% | 4.8% | 5.9% | 3.7% | 9.7% | 13.2% | 14.4% | 19.2% | 21.7% | 18.8% |
| ROA | 2.7% | 1.5% | 1.3% | 0.1% | 3.7% | 4.5% | 2.6% | 5.4% | 6.7% | 7.5% | 11.1% | 13.7% | 12.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 123M | 120M | 122M | 89M | 105M | 142M | 80M | 134M | 207M | 203M | 279M | 433M | 415M |
| Free Cash Flow | 115M | 110M | 117M | 87M | 97M | 136M | 79M | 131M | 197M | 199M | 277M | 431M | 414M |
| Owner Earnings | 14M | 19M | 35M | -8.2M | 9.4M | 54M | -15M | 4.7M | 90M | 72M | 138M | 281M | 250M |
| CapEx | 7.4M | 9.9M | 5.0M | 2.2M | 8.7M | 5.5M | 1.7M | 3.6M | 9.7M | 4.3M | 2.3M | 1.8M | 1.0M |
| Maint. CapEx | 86M | 80M | 68M | 74M | 75M | 71M | 72M | 90M | 98M | 110M | 110M | 115M | 123M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 86M | 80M | 68M | 74M | 75M | 71M | 72M | 90M | 98M | 110M | 110M | 115M | 123M |
| CapEx/OCF | 6.0% | 8.3% | 4.1% | 2.5% | 8.3% | 3.9% | 2.1% | 2.7% | 4.7% | 2.1% | 0.8% | 0.4% | 0.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 49M | 26M | 0 | 0 | 27M | 27M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 5.1% | 4.9% | N/A | N/A | 4.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 23M | 21M | 19M | 23M | 21M | 17M | 24M | 39M | 19M | 20M | 31M | 37M | 42M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | -542M | -194M | -77M | -3.6M | -74M | -248M | -527M | -330M |
| Cash & Equiv. | 196M | 196M | 214M | 231M | 231M | 283M | 212M | 386M | 389M | 411M | 501M | 782M | 806M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | 5.1M | 4.6M | 299M | 411M | 413M | 415M | 416M | 418M |
| Debt/Equity | 0.31 | 0.30 | 0.30 | 0.28 | 0.26 | 0.04 | 0.03 | 0.41 | 0.55 | 0.47 | 0.38 | 0.31 | 0.29 |
| Interest Coverage | 331.2 | 202.5 | 22.6 | 7.3 | 26.5 | 16.5 | 39.6 | 99.4 | 88.5 | 79.6 | 94.6 | 84.1 | 111.7 |
| Equity | 529M | 537M | 559M | 574M | 587M | 633M | 675M | 805M | 813M | 947M | 1.2B | 1.5B | 1.6B |
| Total Assets | 712M | 709M | 734M | 735M | 742M | 820M | 1.1B | 1.6B | 1.6B | 1.8B | 1.9B | 2.3B | 2.4B |
| Total Liabilities | 166M | 162M | 168M | 160M | 155M | 186M | 398M | 773M | 831M | 813M | 744M | 814M | 805M |
| Intangibles | 24M | 21M | 23M | 20M | 18M | 15M | 77M | 99M | 89M | 75M | 60M | 18M | 13M |
| Retained Earnings | -61M | -50M | -41M | -41M | -13M | 22M | 47M | 112M | 227M | 354M | 559M | 846M | 1.1B |
| Working Capital | 351M | 348M | 323M | 356M | 338M | 374M | 228M | 551M | 648M | 756M | 1.0B | 1.3B | 1.5B |
| Current Assets | 465M | 459M | 446M | 474M | 454M | 530M | 501M | 858M | 951M | 1.1B | 1.2B | 1.6B | 1.8B |
| Current Liabilities | 114M | 111M | 123M | 118M | 116M | 156M | 273M | 306M | 302M | 309M | 244M | 303M | 283M |
| Per Share Data | |||||||||||||
| EPS | 0.50 | 0.29 | 0.23 | 0.01 | 0.68 | 0.91 | 0.60 | 1.71 | 2.52 | 2.97 | 4.69 | 5.95 | 7.17 |
| Owner EPS | 0.35 | 0.49 | 0.89 | -0.18 | 0.23 | 1.31 | -0.37 | 0.11 | 2.13 | 1.70 | 3.16 | 5.81 | 5.89 |
| Book Value | 13.49 | 14.17 | 14.22 | 12.73 | 14.46 | 15.49 | 16.53 | 19.26 | 19.11 | 22.18 | 27.01 | 30.57 | 38.61 |
| Cash Flow/Share | 3.13 | 3.17 | 3.10 | 1.97 | 2.60 | 3.46 | 1.97 | 3.21 | 4.87 | 4.76 | 6.40 | 8.94 | 10.14 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 39.2M | 37.9M | 39.3M | 45.1M | 40.6M | 40.9M | 40.8M | 41.8M | 42.5M | 42.7M | 43.5M | 48.4M | 42.5M |
| Valuation | |||||||||||||
| P/E Ratio | 48.6 | 49.2 | 50.5 | N/A | 24.3 | 33.4 | 44.0 | 19.3 | 15.0 | 12.6 | 15.0 | 24.5 | 12.1 |
| P/FCF | 8.3 | 4.9 | 3.9 | 9.4 | 6.9 | 9.1 | 13.7 | 10.6 | 8.1 | 8.0 | 11.1 | 16.3 | 8.9 |
| EV/EBIT | 26.2 | 9.7 | 3.7 | 28.4 | 9.2 | 15.4 | 23.8 | 8.7 | 8.4 | 9.4 | 11.4 | 18.2 | 8.4 |
| Price/Book | 1.8 | 1.0 | 0.8 | 1.4 | 1.1 | 2.0 | 1.6 | 1.7 | 2.0 | 1.7 | 2.6 | 4.8 | 2.3 |
| Price/Sales | 1.0 | 0.6 | 0.5 | 0.8 | 0.7 | 1.0 | 0.9 | 0.8 | 0.9 | 0.9 | 1.2 | 2.2 | 1.5 |
| FCF Yield | 12.1% | 20.4% | 25.6% | 10.6% | 14.4% | 10.9% | 7.3% | 9.5% | 12.3% | 12.5% | 9.0% | 6.1% | 11.2% |
| Market Cap | 953M | 541M | 456M | 813M | 671M | 1.2B | 1.1B | 1.4B | 1.6B | 1.6B | 3.1B | 7.0B | 3.7B |
| Avg. Price | 24.56 | 15.85 | 11.23 | 16.04 | 16.41 | 25.16 | 23.15 | 29.82 | 34.30 | 39.09 | 55.42 | 110.05 | 86.88 |
| Year-End Price | 24.32 | 14.28 | 11.61 | 18.03 | 16.53 | 30.41 | 26.41 | 32.99 | 37.77 | 37.36 | 70.50 | 145.62 | 86.88 |
Stride, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Stride, Inc. trades at 13.3x trailing earnings, compared to its 15-year median P/E of 24.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 15.0x vs a median of 9.3x. The company's 5-year average ROIC is 18.0% with a gross margin of 36.4%. At current prices, the estimated annualized return to fair value is +18.2%.
Stride, Inc. (LRN) has a net profit margin of 12.0%. This is a healthy margin.
Stride, Inc. (LRN) generated $431 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Stride, Inc. (LRN) has a debt-to-equity ratio of 0.31. This indicates a conservatively financed balance sheet.
Stride, Inc. (LRN) reported earnings per share (EPS) of $5.95 in its most recent fiscal year.
Stride, Inc. (LRN) has a return on equity (ROE) of 21.7%. This indicates the company generates strong returns for shareholders.
Stride, Inc. (LRN) has a 5-year average gross margin of 36.4%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for Stride, Inc. (LRN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Stride, Inc. (LRN) has a book value per share of $30.57, based on its most recent annual SEC filing.