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Education & training · Consumer Defensive · Fiscal year ends Dec 31
Laureate Education reported revenue of $1.7B in the fiscal year ended Dec 2025, up 8.6% from the year before. Operating income was $431M, an operating margin of 25.3%, and net income was $282M. Operating cash flow of $366M less capital expenditure of $103M left free cash flow of $263M. It held more cash than debt (net cash $74M).
Ranks among the 9 education & training companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,087 | 1,242 | 1,484 | 1,567 | 1,702 |
| Cost of revenue | 814 | 907 | 1,090 | 1,147 | 1,220 |
| Gross profit | 272 | 335 | 395 | 420 | 482 |
| Operating income | −4.6 | 270 | 339 | 374 | 431 |
| Interest expense | 46.3 | 16.4 | 21.0 | 18.1 | 10.7 |
| Pre-tax income | −138 | 246 | 254 | 414 | 401 |
| Income tax | 146 | 185 | 138 | 119 | 117 |
| Net income | 192 | 69.6 | 108 | 296 | 282 |
| Diluted EPS | 1.01 | 0.41 | 0.68 | 1.92 | 1.89 |
| Diluted shares | 190 | 168 | 158 | 154 | 149 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 325 | 85.2 | 89.4 | 91.4 | 147 |
| Receivables | 152 | 80.7 | 92.1 | 91.8 | 135 |
| Current assets | 544 | 226 | 224 | 227 | 318 |
| Net PP&E | 500 | 523 | 562 | 514 | 629 |
| Goodwill | 547 | 583 | 661 | 563 | 637 |
| Total assets | 2,211 | 1,972 | 2,126 | 1,862 | 2,206 |
| Payables | 26.9 | 42.8 | 43.2 | 35.3 | 57.1 |
| Deferred revenue | 44.0 | 51.3 | 69.4 | 64.3 | 80.2 |
| Current liabilities | 372 | 381 | 453 | 368 | 473 |
| Long-term debt | 105 | 176 | 112 | 59.0 | 73.1 |
| Total liabilities | 1,070 | 1,196 | 1,176 | 904 | 1,018 |
| Shareholders' equity | 1,141 | 776 | 950 | 960 | 1,188 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −156 | 178 | 251 | 233 | 366 |
| Capital expenditure | 50.4 | 52.8 | 56.4 | 71.9 | 103 |
| Free cash flow | −207 | 125 | 194 | 161 | 263 |
| Depreciation & amortisation | 101 | 59.1 | 69.6 | 68.2 | 74.5 |
| Stock-based compensation | 10.2 | 8.8 | 7.1 | 7.8 | 13.3 |
| Acquisitions | 0.0 | – | – | – | – |
| Share buybacks | 381 | 282 | 0.0 | 102 | 215 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 14.3% | 19.5% | 5.5% | 8.6% |
| Operating income growth (YoY) | – | – | 25.5% | 10.4% | 15.3% |
| EPS growth (YoY) | – | −59.4% | 65.9% | 182.4% | −1.6% |
| Gross margin | 25.0% | 27.0% | 26.6% | 26.8% | 28.3% |
| Operating margin | −0.4% | 21.7% | 22.8% | 23.9% | 25.3% |
| Net margin | 17.7% | 5.6% | 7.2% | 18.9% | 16.5% |
| Return on equityBlank when equity is negative | 16.9% | 9.0% | 11.3% | 30.9% | 23.7% |
| ROCEEBIT ÷ (assets − current liabilities) | −0.3% | 17.0% | 20.3% | 25.0% | 24.9% |
| Free cash flow margin | −19.0% | 10.1% | 13.1% | 10.3% | 15.5% |
| Cash conversion (CFO ÷ net income) | −0.81x | 2.56x | 2.33x | 0.79x | 1.30x |
| Receivable days | 51 | 24 | 23 | 21 | 29 |
| Payable days | 12 | 17 | 14 | 11 | 17 |
| Interest cover | −0.10x | 16.4x | 16.1x | 20.7x | 40.4x |
| Debt ÷ equity | 0.09x | 0.23x | 0.12x | 0.06x | 0.06x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −220 | 90.8 | 22.8 | −32.3 | −73.6 |
| Current ratio | 1.46x | 0.59x | 0.50x | 0.62x | 0.67x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.