LINC - NASDAQ

Lincoln Educational Services Corporation

LINC·NASDAQ

$50.07

+1.4%

Consumer DefensiveEducation & Training Services

Lincoln Educational Services Corporation, together with its subsidiaries, provides various career-oriented post-secondary education services to high school graduates and working adults in the United States. The company operates in two segments: Transportation and Skilled Trades, and Healthcare and Other Professions. It offers associate's degree, and diploma and certificate programs in automotive technology; skilled trades programs, including electrical, heating and air conditioning repair, welding, computerized numerical control, and electrical and electronic systems technology; health science programs comprising nursing, dental and medical assistant, claim examiner, medical administrative assistant, etc.; hospitality services programs, such as culinary, therapeutic massage, cosmetology, and aesthetics; and information technology programs. The company operates 22 schools in 14 states under the Lincoln Technical Institute, Lincoln College of Technology, Lincoln Culinary Institute, Euphoria Institute of Beauty Arts and Sciences, and other brand names. As of December 31, 2021, it had 13,059 students enrolled at 22 campuses. The company was founded in 1946 and is based in Parsippany, New Jersey.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$1.59B

EPS0.6500

P/E Ratio77.03

Earnings Date08/10/2026

493.16M

Assets

13%

3Y+69.0%

5Y+101.0%

10Y+202.0%

293.48M

Total Liabilities

14%

3Y+100.0%

5Y+106.0%

10Y+223.0%

199.69M

Total Equity

12%

3Y+38.0%

5Y+94.0%

10Y+176.0%

Lincoln Educational Services Corporation Funding & Solvency Profile

LINC · NASDAQ

Current Assets

Cash & Cash Equivalents28.52M

Net Receivables58.18M

Inventory3.99M

Other Current Assets-3.65M

Total Current Assets87 M

Non-Current Assets

Property, Plant & Equipment350.90M

Goodwill & Intangible Assets10.74M

Long-Term Investments0.00

Other Non-Current Assets22.82M

Total Non-Current Assets374 M

Total Assets

493.16M

Financial Health Analysis

Current Ratio

0.86x

Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.

Debt-to-Equity Ratio

1.47x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

-13677000

Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.

Asset Composition

18% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Negative working capital with limited cash reserves requires immediate attention—potential liquidity crisis if not addressed promptly.

Lincoln Educational Services Corporation Balance Sheet

LINC • NASDAQ

Lincoln Educational Services Corporation Balance Sheet	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	28.5M	59.3M	76M	46.1M	83.3M	38M	23.6M	17.6M	14.6M	21.1M	38.4M	42.3M	67.4M	61.7M	26.5M	66M	46.1M	15.2M	3.5M	6.5M
Short-Term Investments	0.0	0.0	0.0	14.8M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash & Short-Term Investments	28.5M	59.3M	76M	60.8M	83.3M	38M	23.6M	17.6M	14.6M	21.1M	38.4M	42.3M	67.4M	61.7M	26.5M	66M	46.1M	15.2M	3.5M	6.5M
Net Receivables	58.2M	43M	35.7M	37.2M	26.2M	30M	20.7M	18.7M	15.8M	15.4M	10.4M	13.5M	16.1M	17.4M	19.7M	33.7M	36.6M	23.7M	29.4M	20.5M
Accounts Receivables	58.2M	43M	35.7M	37.2M	26.2M	30M	20.7M	18.7M	15.8M	15.4M	10.4M	13.5M	16.1M	17.4M	19.7M	33.7M	36.6M	22.9M	23.3M	20.5M
Other Receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	828K	6.1M	0.0
Inventory	4M	3.1M	2.9M	2.6M	2.7M	2.4M	1.6M	1.5M	1.7M	1.1M	1M	1.5M	2.3M	2.7M	3.1M	3.6M	3.3M	3.4M	2.5M	2.4M
Prepaids	0.0	0.0	5.6M	4.7M	4.9M	3.7M	383K	178K	207K	2.9M	2.7M	3.9M	3M	7.1M	11.7M	2.5M	8.2M	3M	3.8M	3M
Other Current Assets	-3.7M	5.9M	14.5M	8.8M	4.6M	0.0	4.2M	17M	10.4M	23.5M	52.1M	81.8M	69.3M	10.7M	11.6M	11.8M	11.7M	6M	4.6M	4.8M
Total Current Assets	87M	111.3M	134.7M	114.1M	121.6M	74.2M	50.5M	57.1M	44.2M	66.3M	105.3M	113.1M	103.6M	99.5M	72.7M	117.5M	106M	51.3M	43.8M	38.2M
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	350.9M	266.3M	156.6M	117M	114.6M	103.6M	98.4M	49.3M	52.9M	55.4M	66.5M	69.7M	127.3M	154.1M	180M	172.4M	149.3M	108.6M	106.6M	94.4M
Goodwill	10.7M	10.7M	10.7M	14.5M	14.5M	14.5M	14.5M	14.5M	14.5M	14.5M	14.5M	22.2M	62.5M	65.5M	97.4M	106.7M	113M	91.5M	82.7M	85M
Intangible Assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	16K	32K	50K	1.2M	1.9M	2.2M	0.0	0.0	0.0	0.0	0.0	0.0
Goodwill & Intangible Assets	10.7M	10.7M	10.7M	14.5M	14.5M	14.5M	14.5M	14.5M	14.6M	14.6M	14.6M	23.4M	64.3M	67.8M	97.4M	106.7M	113M	91.5M	82.7M	85M
Long-Term Investments	0.0	0.0	17.5M	22.7M	0.0	16.5M	-153K	12.2M	9.5M	27.6M	20.5M	0.0	3.5M	6.9M	5.6M	7.8M	7.6M	0.0	0.0	0.0
Tax Assets	21.7M	25.4M	23.2M	22.3M	23.7M	35.7M	153K	424K	424K	-27.6M	-20.5M	0.0	4.5M	17.1M	1.9M	1.5M	4.2M	7.1M	5.5M	2.7M
Other Non-Current Assets	22.8M	22.9M	2.5M	812K	20.8M	734K	31.3M	12.5M	33.7M	26.9M	23.9M	7.5M	2.6M	1.5M	4.8M	6.9M	8.3M	9.7M	7.6M	6M
Total Non-Current Assets	406.1M	325.3M	210.6M	177.4M	173.7M	171M	144.3M	88.9M	111M	96.9M	105M	100.6M	202.3M	247.3M	289.6M	295.3M	282.4M	216.8M	202.4M	188M
Total Assets	493.2M	436.6M	345.2M	291.6M	295.3M	245.2M	194.8M	146M	155.2M	163.2M	210.3M	213.7M	305.9M	346.8M	362.3M	412.8M	388.4M	268M	246.2M	226.2M
LIABILITIES
CURRENT LIABILITIES
Total Payables	27M	39.8M	21M	12.6M	15M	16.2M	14.6M	14.1M	10.5M	13.7M	12.9M	11.9M	14.6M	13.5M	15.5M	26.7M	25M	15.6M	13.7M	15M
Accounts Payable	27M	37M	18.2M	10.5M	12.3M	15.7M	14.6M	14.1M	10.5M	13.7M	12.9M	11.9M	14.6M	13.5M	15.5M	25.6M	19.6M	12.3M	13.7M	12.1M
Other Payables	0.0	2.8M	2.8M	2.1M	2.7M	491K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1M	5.4M	3.3M	0.0	5.7M
Accrued Expenses	0.0	2.8M	13.7M	5.5M	2.3M	12.5M	3.8M	4.3M	3.1M	15.4M	6.2M	5.8M	5.5M	3.2M	4.7M	18.7M	19.2M	16.2M	10.1M	6.3M
Short Term Debt	11.1M	0.0	0.0	0.0	0.0	2M	2M	15M	0.0	11.7M	10.1M	30M	435K	412K	481K	437K	383K	130K	204K	91K
Capital Lease Obligations (Current)	0.0	9.5M	11.8M	9.6M	11.5M	8.5M	9.1M	0.0	0.0	0.0	114K	471K	435K	0.0	481K	437K	383K	130K	0.0	0.0
Tax Payables	0.0	2.8M	2.8M	3.9M	2.7M	491K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1M	5.4M	3.3M	1.5M	2.9M
Deferred Revenue	0.0	30.6M	26.9M	24.2M	25.4M	23.5M	23.4M	22.5M	24.6M	17.5M	21.4M	26.5M	30.2M	34.6M	43.2M	50.9M	48.1M	38.8M	34.8M	33.2M
Other Current Liabilities	62.6M	7.5M	33K	3.2M	11.7M	4.2M	4.3M	8.6M	9.2M	25.4M	20.3M	8.9M	5.4M	6.9M	6.7M	24.5M	56.5M	184K	2.9M	37.8M
Total Current Liabilities	100.7M	90.2M	73.4M	55M	65.9M	66.8M	57.2M	64.6M	47.5M	68.3M	71.4M	83.5M	56.6M	58.6M	71.1M	121.7M	101.5M	71.1M	61.7M	59.1M
NON-CURRENT LIABILITIES
Long Term Debt	192.8M	0.0	0.0	0.0	0.0	15.2M	32M	33.8M	52.6M	30.2M	41.8M	0.0	54.5M	73.1M	36M	19.6M	19.6M	10M	15.2M	9.8M
Deferred Revenue (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	-78.2M	0.0	0.0	0.0	0.0	0.0	-94.2M	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Deferred Tax Liabilities (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	153K	0.0	0.0	0.0	0.0	0.0	4.5M	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Non-Current Liabilities	0.0	16K	56K	668K	1.6M	7.4M	4.2M	7.8M	9.3M	11.8M	10.3M	12.5M	10M	16.6M	-19.9M	49.1M	48.6M	11.9M	6.8M	5.6M
Total Non-Current Liabilities	192.8M	168.1M	105M	91.7M	88M	75.3M	94.4M	41.6M	61.9M	22.5M	57.8M	47.2M	104.2M	89.7M	52.1M	68.7M	68.3M	22M	22M	15.3M
Capital Lease Obligations	0.0	177.6M	116.8M	100.6M	97.9M	61.2M	55.2M	0.0	0.0	0.0	13.6M	35.2M	435K	0.0	481K	437K	383K	0.0	0.0	0.0
Total Liabilities	293.5M	258.3M	178.4M	146.7M	153.9M	142.1M	151.6M	106.2M	109.4M	90.8M	129.3M	130.7M	160.8M	148.3M	123.2M	190.3M	169.7M	93.1M	83.7M	74.4M
SHAREHOLDERS' EQUITY
Treasury Stock	0.0	0.0	0.0	0.0	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-82.9M	-32.8M	-6.6M	0.0	0.0
Preferred Stock	0.0	0.0	0.0	0.0	12M	12M	0.0	0.0	0.0	17.5M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Common Stock	48.2M	48.2M	48.2M	49.1M	141.4M	141.4M	141.4M	141.4M	141.4M	141.4M	141.4M	141.4M	141.4M	141.4M	141.4M	140.7M	137.7M	120.6M	120.4M	120.2M
Additional Paid-In Capital	0.0	50.6M	49.4M	45.5M	32.4M	30.5M	30.1M	29.5M	29.3M	28.6M	27.3M	26.4M	24.2M	22.7M	19.5M	17.4M	14.2M	15.1M	12.4M	7.7M
Retained Earnings	99.2M	79.2M	69.3M	51.2M	39.7M	6.2M	-42.1M	-44.1M	-37.5M	-26M	2.3M	5.6M	66.1M	124.1M	167.7M	152M	104.5M	55.2M	35M	26.8M
Accumulated Other Comprehensive Income/Loss	0.0	274K	-36K	-960K	-1.2M	-4.2M	-3.5M	-4.1M	-4.5M	-6.1M	-7.1M	-7.5M	-3.6M	-6.8M	-6.7M	-4.7M	-4.9M	-9.4M	-5.3M	-2.9M
Other Total Stockholders' Equity	52.3M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Stockholders' Equity	199.7M	178.3M	166.8M	144.9M	141.4M	103M	43.1M	39.9M	45.8M	72.4M	81M	83M	145.2M	198.5M	239M	222.5M	218.6M	174.9M	162.5M	151.8M
Total Equity	199.7M	178.3M	166.8M	144.9M	141.4M	103M	43.1M	39.9M	45.8M	72.4M	81M	83M	145.2M	198.5M	239M	222.5M	218.6M	174.9M	162.5M	151.8M
SUMMARY
Total Liabilities & Equity	493.2M	436.6M	345.2M	291.6M	295.3M	245.2M	194.8M	146M	155.2M	163.2M	210.3M	213.7M	305.9M	346.8M	362.3M	412.8M	388.4M	268M	246.2M	226.2M
Total Investments	0.0	0.0	17.5M	37.5M	0.0	16.5M	-153K	12.2M	9.5M	27.6M	20.5M	0.0	3.5M	6.9M	5.6M	7.8M	7.6M	0.0	0.0	0.0
Total Debt	203.9M	177.6M	116.8M	100.6M	97.9M	78.4M	89.2M	48.8M	52.6M	42M	58.2M	65.2M	90.1M	73.5M	36.5M	56.9M	57.3M	10.2M	15.4M	9.9M
Net Debt	175.3M	118.3M	40.8M	54.6M	14.6M	40.4M	65.5M	31.2M	38M	20.9M	19.8M	22.9M	22.7M	11.8M	10M	-9.1M	11.3M	-5.1M	11.9M	3.4M
Shares Outstanding	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404	31,618,404

SEC Filings

LINC - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 13, 2026	May 12, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 11, 2026	May 07, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 11, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 11, 2026	May 11, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 16, 2026	April 13, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 26, 2026	May 07, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 19, 2026	March 19, 2026	2026	View Filing
10-K 10-K 2025 FY FY	March 02, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 23, 2026	February 23, 2026	2026	View Filing
8-K 8-K 2025 N/A	December 23, 2025	December 19, 2025	2025	View Filing

Showing 1 to 10 of 299 filings

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