STRA · XBRL financial data

Strategic Education financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (STRA's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	1,028	1,132	1,065	1,133	1,220	1,268
General and administrative	295	361	380	384	412	425
Operating income (loss)	109	74	71	95	156	174
Other income (expense)	5	3	(1)	5	6	3
Income tax expense (benefit)	28	22	23	31	49	51
Net income (loss)	86	55	47	70	113	127
Earnings per share, basic USD per share	3.81	2.30	1.97	2.98	4.81	5.57
Earnings per share, diluted USD per share	3.77	2.28	1.94	2.91	4.67	5.41
Weighted average shares, basic millions of shares	23	24	24	23	23	23
Weighted average shares, diluted millions of shares	23	24	24	24	24	23

Fiscal years (STRA's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	188	269	214	168	137	141
Marketable securities	8	7	9	40	47	7
Marketable securities, non-current	30	23	13	0	15	5
Accounts receivable	50	51	63	76	76	78
Total current assets	286	368	329	329	305	278
Property and equipment, net	159	151	133	119	111	107
Right-of-use asset	121	150	125	119	104	91
Goodwill	1,319	1,286	1,251	1,252	1,207	1,242
Total assets	2,296	2,306	2,162	2,125	2,050	2,039
Total current liabilities	200	196	210	210	216	218
Long-term debt	142	142	101	61	0	—
Lease liability, non-current	106	163	134	128	103	93
Total liabilities	547	592	526	473	387	392
Retained earnings	180	175	160	169	218	255
Total stockholders' equity	1,748	1,714	1,636	1,653	1,662	1,646
Total liabilities and equity	2,296	2,306	2,162	2,125	2,050	2,039
Common shares outstanding (cover page) millions of shares	24	25	24	24	25	23

Fiscal years (STRA's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	86	55	47	70	113	127
Stock-based compensation	15	18	22	20	26	23
Depreciation and amortization	52	59	52	48	44	48
Net cash from operating activities	143	181	126	117	169	198
Purchases of property and equipment	47	49	43	37	41	44
Net cash from investing activities	(642)	(33)	(31)	(49)	(64)	9
Proceeds from issuing common stock	220	0	0	—	—	—
Share repurchases	0	6	40	10	12	139
Dividends paid	56	59	59	59	59	58
Proceeds from long-term debt	146	0	0	—	—	—
Net cash from financing activities	279	(68)	(142)	(114)	(137)	(206)
Net change in cash	(218)	77	(52)	(46)	(35)	3

SIC 8200 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 8200 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Strategic Education	124	337	29*	22.2M	—	Q2 FY26 10-QJun 30, 2026
Stride	548	639	(125)	42.0M	6.3 quarters	Q1 FY27 10-QSep 30, 2026
Perdoceo Education	163	213	75*	62.6M	—	Q2 FY26 10-QJun 30, 2026
Laureate Education	190	485	152*	135.7M	—	Q3 FY26 10-QSep 30, 2026
Graham Holdings	154	1,326	160*	not reported	—	Q3 FY26 10-QSep 30, 2026
Universal Technical Institute	130	219	10*	55.1M	—	Q3 FY26 10-QJun 30, 2026
Covista	222	512	114	33.3M	—	Q1 FY27 10-QSep 30, 2026
Udemy	253	not reported	15	146.3M	—	Q1 FY26 10-QMar 31, 2026
Grand Canyon Education	171	264	109*	26.1M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.