Is the business good?
How good a business is LINC?
Lincoln Educational Services Corporation earns 14% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
14%
Return on invested capital · cost of capital 9.0% · 5.1 points above what the capital costs: growth creates value
- Operating margin
- 6.1%
Operating margin · Education & Training Services median 13% · 12 months to Q1 2026
- Cash conversion
- −0.41×
Cash conversion · some of the reported profit has not turned into cash yet
- Share count, year on year
- +0.83%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 5.0% |
| FY2021 | 15% |
| FY2022 | 4.7% |
| FY2023 | 8.8% |
| FY2024 | 3.5% |
| FY2025 | 5.9% |
Details›
- Gross margin12 months to Q1 2026
- 60%
- Operating margin12 months to Q1 2026
- 6.1%
- Net margin12 months to Q1 2026
- 4.1%
- Free cash flow margin
- −1.7%
- Revenue, trailing twelve months
- $545M
- Free cash flow, trailing twelve months
- −$9.1M
- Net income, trailing twelve months
- $22M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 14%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Education & Training Services
Ranks #15 of 16 by Smart Score