Adtalem Global Education (ATGE)
Market Price (4/4/2026): $118.0 | Market Cap: $4.2 BilSector: Consumer Discretionary | Industry: Education Services
Adtalem Global Education (ATGE)
Market Price (4/4/2026): $118.0Market Cap: $4.2 BilSector: Consumer DiscretionaryIndustry: Education Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3%, FCF Yield is 11% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 12% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -40% Megatrend and thematic driversMegatrends include Future of Work & Education. Themes include Workforce Skills Development, Online & Professional Education, and Healthcare Professional Training. | Key risksATGE key risks include [1] investigations into alleged securities fraud and potential litigation, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3%, FCF Yield is 11% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 12% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -40% |
| Megatrend and thematic driversMegatrends include Future of Work & Education. Themes include Workforce Skills Development, Online & Professional Education, and Healthcare Professional Training. |
| Key risksATGE key risks include [1] investigations into alleged securities fraud and potential litigation, Show more. |
Qualitative Assessment
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Adtalem Global Education (ATGE) stock has lost about 5% since 12/31/2025 because of the following key factors:
1. Positive Fiscal Q2 2026 Earnings Offset by Initial Market Reaction: Adtalem Global Education reported strong second-quarter fiscal year 2026 results on January 28, 2026, with revenue increasing 12.4% year-over-year to $503.4 million and adjusted earnings per share (EPS) of $2.43, surpassing analyst estimates by $0.24. The company also raised its full-year fiscal 2026 adjusted EPS guidance to a range of $7.80 to $8.00, representing 17% to 20% growth. Despite these positive financial results and subsequent price target increases from analysts (e.g., BMO Capital raising its target to $138.00), the stock experienced a slight decline in after-hours trading following the announcement, suggesting that other market dynamics or investor sentiment weighed more heavily on the price.
2. Significant Insider Selling Activity: A notable factor contributing to negative sentiment was substantial insider selling. In the twelve months prior to January 23, 2026, Adtalem insiders sold approximately $9.6 million worth of shares. This included a Director, Lisa Wardell, selling $3.4 million in shares at a price of $132 per share. Such considerable selling by company insiders can signal a lack of confidence in the stock's future performance, which may have pressured the stock price downward.
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1. Positive Fiscal Q2 2026 Earnings Offset by Initial Market Reaction: Adtalem Global Education reported strong second-quarter fiscal year 2026 results on January 28, 2026, with revenue increasing 12.4% year-over-year to $503.4 million and adjusted earnings per share (EPS) of $2.43, surpassing analyst estimates by $0.24. The company also raised its full-year fiscal 2026 adjusted EPS guidance to a range of $7.80 to $8.00, representing 17% to 20% growth. Despite these positive financial results and subsequent price target increases from analysts (e.g., BMO Capital raising its target to $138.00), the stock experienced a slight decline in after-hours trading following the announcement, suggesting that other market dynamics or investor sentiment weighed more heavily on the price.
2. Significant Insider Selling Activity: A notable factor contributing to negative sentiment was substantial insider selling. In the twelve months prior to January 23, 2026, Adtalem insiders sold approximately $9.6 million worth of shares. This included a Director, Lisa Wardell, selling $3.4 million in shares at a price of $132 per share. Such considerable selling by company insiders can signal a lack of confidence in the stock's future performance, which may have pressured the stock price downward.
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Stock Movement Drivers
Fundamental Drivers
The 14.0% change in ATGE stock from 12/31/2025 to 4/4/2026 was primarily driven by a 12.6% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 103.47 | 118.00 | 14.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,833 | 1,889 | 3.0% |
| Net Income Margin (%) | 13.8% | 13.4% | -2.7% |
| P/E Multiple | 14.8 | 16.6 | 12.6% |
| Shares Outstanding (Mil) | 36 | 36 | 1.1% |
| Cumulative Contribution | 14.0% |
Market Drivers
12/31/2025 to 4/4/2026| Return | Correlation | |
|---|---|---|
| ATGE | -7.2% | |
| Market (SPY) | -5.4% | 16.6% |
| Sector (XLY) | -9.4% | 23.4% |
Fundamental Drivers
The -23.6% change in ATGE stock from 9/30/2025 to 4/4/2026 was primarily driven by a -29.1% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 154.45 | 118.00 | -23.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,788 | 1,889 | 5.6% |
| Net Income Margin (%) | 13.3% | 13.4% | 1.1% |
| P/E Multiple | 23.5 | 16.6 | -29.1% |
| Shares Outstanding (Mil) | 36 | 36 | 0.9% |
| Cumulative Contribution | -23.6% |
Market Drivers
9/30/2025 to 4/4/2026| Return | Correlation | |
|---|---|---|
| ATGE | -37.8% | |
| Market (SPY) | -2.9% | 7.8% |
| Sector (XLY) | -9.6% | -3.0% |
Fundamental Drivers
The 17.2% change in ATGE stock from 3/31/2025 to 4/4/2026 was primarily driven by a 11.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312025 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 100.64 | 118.00 | 17.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,688 | 1,889 | 11.9% |
| Net Income Margin (%) | 12.3% | 13.4% | 8.7% |
| P/E Multiple | 18.1 | 16.6 | -8.0% |
| Shares Outstanding (Mil) | 37 | 36 | 4.8% |
| Cumulative Contribution | 17.2% |
Market Drivers
3/31/2025 to 4/4/2026| Return | Correlation | |
|---|---|---|
| ATGE | -4.5% | |
| Market (SPY) | 16.3% | 24.8% |
| Sector (XLY) | 10.2% | 20.5% |
Fundamental Drivers
The 205.5% change in ATGE stock from 3/31/2023 to 4/4/2026 was primarily driven by a 260.3% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4042026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.62 | 118.00 | 205.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,442 | 1,889 | 31.0% |
| Net Income Margin (%) | 26.3% | 13.4% | -49.1% |
| P/E Multiple | 4.6 | 16.6 | 260.3% |
| Shares Outstanding (Mil) | 45 | 36 | 27.2% |
| Cumulative Contribution | 205.5% |
Market Drivers
3/31/2023 to 4/4/2026| Return | Correlation | |
|---|---|---|
| ATGE | 148.8% | |
| Market (SPY) | 63.3% | 28.2% |
| Sector (XLY) | 47.9% | 25.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ATGE Return | -13% | 20% | 66% | 54% | 14% | -7% | 183% |
| Peers Return | 4% | 12% | 43% | 38% | 10% | 16% | 191% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -4% | 75% |
Monthly Win Rates [3] | |||||||
| ATGE Win Rate | 58% | 42% | 75% | 50% | 50% | 50% | |
| Peers Win Rate | 43% | 52% | 60% | 53% | 57% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ATGE Max Drawdown | -19% | -33% | -5% | -23% | -2% | -10% | |
| Peers Max Drawdown | -21% | -15% | -7% | -6% | -16% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: STRA, LOPE, LAUR, PRDO, LRN. See ATGE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/2/2026 (YTD)
How Low Can It Go
| Event | ATGE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -52.7% | -25.4% |
| % Gain to Breakeven | 111.2% | 34.1% |
| Time to Breakeven | 247 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -41.8% | -33.9% |
| % Gain to Breakeven | 71.8% | 51.3% |
| Time to Breakeven | 131 days | 148 days |
| 2018 Correction | ||
| % Loss | -48.9% | -19.8% |
| % Gain to Breakeven | 95.8% | 24.7% |
| Time to Breakeven | 1,493 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -37.7% | -56.8% |
| % Gain to Breakeven | 60.5% | 131.3% |
| Time to Breakeven | 268 days | 1,480 days |
Compare to STRA, LOPE, LAUR, PRDO, LRN
In The Past
Adtalem Global Education's stock fell -52.7% during the 2022 Inflation Shock from a high on 3/12/2021. A -52.7% loss requires a 111.2% gain to breakeven.
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About Adtalem Global Education (ATGE)
Adtalem Global Education Inc. provides workforce solutions worldwide. It operates through two segments, Medical and Healthcare; and Financial Services. The Medical and Healthcare segment offers degree and non-degree programs in the medical and healthcare postsecondary education industry. This segment operates Chamberlain University, American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. The Financial Services segment provides test preparation, certifications, conferences, seminars, memberships, and subscriptions to business professionals in the areas of accounting, anti-money laundering, banking, and mortgage lending. It operates Association of Certified Anti-Money Laundering Specialists, Becker Professional Education, OnCourse Learning, and EduPristine. The company was formerly known as DeVry Education Group Inc. and changed its name to Adtalem Global Education Inc. in May 2017. Adtalem Global Education Inc. was incorporated in 1987 and is based in Chicago, Illinois.
AI Analysis | Feedback
Here are a few analogies to describe Adtalem Global Education (ATGE):
- It's like a combination of Strategic Education (STRA) for healthcare universities and Kaplan for professional certifications.
- Think of it as a career-focused education company, similar to Kaplan for professional certifications, but also operating its own network of medical and healthcare universities.
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- Medical Degree Programs: Offers medical degrees through institutions like American University of the Caribbean School of Medicine and Ross University School of Medicine.
- Nursing and Healthcare Programs: Provides nursing and other healthcare-related degree and non-degree programs through Chamberlain University.
- Veterinary Medical Degree Programs: Delivers veterinary medical degrees through Ross University School of Veterinary Medicine.
- Anti-Money Laundering (AML) Certifications: Offers test preparation, certifications, and professional development via the Association of Certified Anti-Money Laundering Specialists (ACAMS).
- Accounting Certifications: Provides test preparation and certifications for accounting professionals through Becker Professional Education.
- Banking and Mortgage Lending Education: Delivers professional training, certifications, and courses through OnCourse Learning for banking and mortgage lending professionals.
- Finance Professional Certifications: Offers test preparation and certifications for business professionals in finance through EduPristine.
AI Analysis | Feedback
Adtalem Global Education (ATGE) primarily sells its educational and professional development services to individuals. Based on the company's operational segments, its major customer categories include:
- Students in Medical and Healthcare Programs: Individuals pursuing degrees and non-degree programs in fields such as nursing, medicine, and veterinary medicine through institutions like Chamberlain University, American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine.
- Professionals Seeking Financial Certifications and Test Preparation: Business professionals in areas like accounting, anti-money laundering, banking, and mortgage lending who utilize services from entities such as Becker Professional Education, Association of Certified Anti-Money Laundering Specialists, OnCourse Learning, and EduPristine for test preparation, certifications, and ongoing professional development.
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`- Instructure (INST)
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Stephen Beard, Chairman and Chief Executive Officer
Stephen Beard became the Chief Executive Officer of Adtalem Global Education in September 2021 and was appointed Chairman of the Board of Directors in November 2024. Prior to his CEO role, he served as Adtalem's Chief Operating Officer. Before joining Adtalem, Mr. Beard was the Executive Vice President, Chief Administrative Officer, and General Counsel of Heidrick & Struggles International, Inc. (NASDAQ: HSII), a public company. He also practiced as a corporate and securities lawyer with ArentFox Schiff LLP and began his professional career as a law clerk for the Indiana Supreme Court.
Robert Phelan, Senior Vice President, Chief Financial Officer
Robert Phelan was promoted to Chief Financial Officer in October 2021, having previously served as interim CFO since April 2021. He joined Adtalem as Vice President and Chief Accounting Officer in February 2020. With over 30 years of experience in finance, Mr. Phelan spent more than 23 years at Sears Holding Corporation, where he held several senior financial and operational leadership positions, including Senior Vice President and Corporate Controller. He began his career at KPMG.
Scott Liles, President, Adtalem Medical and Veterinary
Scott Liles serves as the President of Adtalem Medical and Veterinary. No further background information is available in the provided search results.
Megan Noel, Senior Vice President, Chief Corporate Affairs Officer
Megan Noel was appointed as Senior Vice President, Chief Corporate Affairs Officer, effective May 2025. In this role, she leads corporate affairs functions, including communications, investor relations, government relations, impact initiatives, and alumni engagement. No further background information is available in the provided search results.
Douglas G. Beck, Senior Vice President, General Counsel & Corporate Secretary
Douglas G. Beck holds the position of Senior Vice President, General Counsel & Corporate Secretary. No further background information is available in the provided search results.
AI Analysis | Feedback
Adtalem Global Education (ATGE) faces several key risks, primarily stemming from its nature as a for-profit education provider.
- Regulatory Scrutiny and Dependence on Federal Funding: Adtalem Global Education, like other for-profit education institutions, is heavily reliant on federal student aid programs, particularly Title IV funds. Changes to federal regulations, such as the "90/10 Rule" (requiring at least 10% of revenue from non-federal sources), "Gainful Employment" rules, and Cohort Default Rate (CDR) metrics, pose significant risks. Violating these rules can lead to a loss of eligibility for federal funding, which would materially impact the company's enrollment and financial results. The for-profit education sector has historically faced heightened government scrutiny and increased administrative burdens due to regulatory changes and concerns over predatory practices. Adtalem has also faced ongoing Department of Education investigations, such as one concerning Walden University. Furthermore, funding pressures related to the phaseout of Grad PLUS loans have been cited as a concern.
- Investor Inquiries and Securities Fraud Allegations: Adtalem has recently been the subject of investor inquiries and investigations by law firms regarding potential violations of securities laws. These investigations focus on whether the company issued misleading statements or failed to disclose material information to investors, particularly concerning reported enrollment growth, marketing execution, and exposure to regulatory changes. Specifically, slowing growth at Chamberlain University and the impact of the Grad PLUS loan phase-out have been highlighted. An analyst report in October 2025, which lowered Adtalem's price target due to slowed growth at Chamberlain, led to a substantial approximately 31% drop in the company's stock price, demonstrating the market's sensitivity to such concerns.
- Competition and Enrollment Challenges: Adtalem faces significant competition from traditional non-profit universities that are expanding their online programs. While Adtalem has generally reported enrollment growth, some of its key institutions, such as Chamberlain University, have experienced slower growth and scrutiny. Issues related to "marketing execution" and funding pressures have been identified as contributors to these enrollment challenges at Chamberlain. The broader for-profit education sector also contends with a general reluctance of students to incur high student loan debt, which can impact enrollment numbers.
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The rise of advanced AI-powered personalized learning platforms and alternative credentialing systems poses a clear emerging threat to Adtalem Global Education's Financial Services segment. These new models could offer more flexible, cost-effective, and highly customized learning paths for professionals, directly competing with and potentially disrupting demand for ATGE's traditional test preparation, certification, and continuing education programs offered through entities like Becker Professional Education and Association of Certified Anti-Money Laundering Specialists (ACAMS).
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Adtalem Global Education (ATGE) operates in two primary segments: Medical and Healthcare, and Financial Services. The addressable markets for its main products and services are substantial, encompassing both global and U.S. specific educational and professional development needs.
Medical and Healthcare Segment
- Global Healthcare Education: The global healthcare education market was valued at approximately USD 124.71 billion in 2024 and is projected to reach USD 387.40 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 13.5% from 2025 to 2033. North America held the largest revenue share in the global market in 2024, at 39.2%. Other estimates place the global market at USD 105.95 billion in 2024, projected to reach USD 245.76 billion by 2033 (CAGR of 9.8%).
- U.S. Nursing Education: The U.S. nursing education market was valued at USD 9.7 billion in 2024 and is anticipated to grow at a CAGR of 5.3% between 2025 and 2034. Another source indicates the U.S. nursing education market is expected to increase by USD 25.25 billion, at a CAGR of 6.1% from 2025 to 2030.
- Global Medical Education: The global medical education market size was valued at USD 35.07 billion in 2024 and is projected to grow to USD 53.02 billion by 2033, with a CAGR of 4.7% during the forecast period (2026–2033). Another report estimated the global market at USD 38.58 billion in 2023, expected to reach USD 60.12 billion by 2032 (CAGR of 4.5%). North America is estimated to contribute 34% to the growth of the global medical education market during the forecast period.
- U.S. Continuing Medical Education (CME): The U.S. continuing medical education market size was valued at USD 3.35 billion in 2024 and is expected to reach USD 4.67 billion by 2030, growing at a CAGR of 5.69%.
- U.S. Veterinary Education: The U.S. veterinary education market was valued at USD 754.4 million in 2024 and is projected to reach USD 1.16 billion by 2030, with a CAGR of 7.62%. Another estimate values the U.S. market at USD 1.01 billion in 2024, expected to reach USD 1.56 billion by 2032 (CAGR of 5.59%). The global veterinary education market was valued at USD 3.19 billion in 2024 and is expected to reach USD 5.08 billion by 2032.
Financial Services Segment
- Global Test Preparation: The global test preparation market size reached USD 596.6 million in 2025 and is expected to reach USD 891.3 million by 2034, exhibiting a CAGR of 4.43% during 2026-2034. Another report states the global test preparation market was USD 3.31 billion in 2025, and is expected to grow from USD 3.00 billion in 2022 to USD 4.43 billion by 2030, at a CAGR of 5.00%.
- U.S. Test Preparation: The U.S. test preparation market size is valued to increase by USD 18.4 billion, at a CAGR of 7.9% from 2024 to 2029. It is also projected to reach nearly $4 billion in revenue by 2028, accelerating at a CAGR of 2.8%.
- Global Professional Certification Training: The global professional certification training market size reached USD 28.4 billion in 2024 and is expected to grow at a CAGR of 7.9% from 2025 to 2033, reaching a projected value of USD 56.3 billion. North America is the largest market, accounting for approximately 38% of the global market share in 2024, with a market size of around USD 10.8 billion. Another estimate values the global certification market at $51.45 billion in 2022, reaching $76.36 billion by 2028.
- Global Anti-Money Laundering (AML): The global anti-money laundering market size is accounted at USD 2.07 billion in 2025 and is predicted to increase from USD 2.41 billion in 2026 to approximately USD 9.14 billion by 2035, expanding at a CAGR of 16.01% from 2026 to 2035. Another source states the global anti-money laundering market size was valued at USD 4.4 billion in 2025, expected to grow from USD 5.1 billion in 2026 to USD 23.8 billion in 2035, at a CAGR of 18.7%. North America dominated the global anti-money laundering market with the largest market share of 35% in 2025. The U.S. alone dominated the North American market with approximately USD 1.5 billion in revenue in 2025.
- U.S. Accounting Services Sector (including professional accounting certifications): The U.S. accounting services sector generates roughly $140–$146 billion in annual revenues. The U.S. accounting industry revenue hit a record $145.7 billion in 2023. The global accounting services market is projected to grow from USD 682.69 billion in 2025 to USD 986.50 billion by 2032, exhibiting a CAGR of 5.40%. North America dominated this global market with a share of 34.63% in 2024.
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Adtalem Global Education (ATGE) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Continued Enrollment Growth in High-Demand Healthcare Programs: Adtalem anticipates sustained revenue expansion from increasing student enrollment, particularly within its Medical and Healthcare segment. This growth is especially strong in nursing, social and behavioral health, medical, and veterinary programs across institutions like Chamberlain University and Walden University. The company has reported consistent quarterly enrollment growth, indicating robust demand for these programs.
- Expansion of Healthcare Workforce Capacity: Adtalem's "Purpose at Scale" strategic plan focuses on expanding healthcare workforce capacity. This includes plans for capacity expansion and developing new programs and offerings to address critical shortages in the healthcare industry. These initiatives are designed to meet societal needs while delivering sustainable earnings growth.
- Integration of AI-Enabled Education and New Curricula: The company is investing in and developing AI-enabled education, including groundbreaking curricula for training healthcare professionals in AI technologies and care delivery. This strategy includes the introduction of the first-ever AI certification for its students, which is expected to attract new students and enhance its educational offerings.
- Optimization of Tuition Pricing Models: Adtalem has demonstrated a focus on optimizing tuition pricing models, notably observed at institutions like Walden University. This strategic approach to pricing, alongside enrollment growth, contributes directly to an increase in revenue per student.
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Share Repurchases
- Adtalem completed a $150 million share repurchase program in December 2025.
- The company's board authorized a new $750 million share repurchase program through December 2028.
- Since February 2022, Adtalem has returned $913 million to shareholders by repurchasing 17.2 million shares.
Share Issuance
- In fiscal year 2025, Adtalem issued $11.3 million of stock.
- The company's share repurchases have more than offset share issuances for multiple years.
Inbound Investments
- In February 2026, First Sabrepoint Capital Management LP initiated a new position in Adtalem, acquiring 135,000 shares for an estimated $13.97 million.
Outbound Investments
- Adtalem completed the acquisition of Walden University for $1.48 billion in August 2021, significantly expanding its online nursing and health sciences offerings.
- Following the Walden University acquisition in August 2021, the company reduced its debt by $1.1 billion.
Capital Expenditures
- Free cash flow for fiscal year 2025 was $283 million.
- Capital expenditures include capitalized implementation costs.
- The company emphasizes disciplined investments in growth initiatives.
Latest Trefis Analyses
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| 03312026 | SKY | Champion Homes | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 03272026 | DPZ | Domino's Pizza | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.1% | 3.1% | 0.0% |
| 03272026 | ETSY | Etsy | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.6% | 5.6% | 0.0% |
| 03272026 | OLLI | Ollie's Bargain Outlet | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 3.1% | 3.1% | 0.0% |
| 03272026 | PATK | Patrick Industries | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 3.4% | 3.4% | -1.6% |
| 10312025 | ATGE | Adtalem Global Education | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -2.0% | -2.0% | -8.8% |
| 01312024 | ATGE | Adtalem Global Education | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 55.3% | 102.9% | -9.7% |
| 02282022 | ATGE | Adtalem Global Education | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 85.9% | 88.3% | 0.0% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 83.64 |
| Mkt Cap | 3.9 |
| Rev LTM | 1,485 |
| Op Inc LTM | 336 |
| FCF LTM | 228 |
| FCF 3Y Avg | 203 |
| CFO LTM | 261 |
| CFO 3Y Avg | 266 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.3% |
| Rev Chg 3Y Avg | 8.5% |
| Rev Chg Q | 10.0% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Mgn LTM | 22.4% |
| Op Mgn 3Y Avg | 20.9% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 22.1% |
| CFO/Rev 3Y Avg | 18.0% |
| FCF/Rev LTM | 17.5% |
| FCF/Rev 3Y Avg | 14.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.9 |
| P/S | 2.8 |
| P/EBIT | 10.7 |
| P/E | 14.9 |
| P/CFO | 13.4 |
| Total Yield | 7.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 6.4% |
| D/E | 0.1 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 4.1% |
| 3M Rtn | 7.2% |
| 6M Rtn | -0.5% |
| 12M Rtn | 6.2% |
| 3Y Rtn | 137.2% |
| 1M Excs Rtn | 8.1% |
| 3M Excs Rtn | 8.9% |
| 6M Excs Rtn | 0.9% |
| 12M Excs Rtn | -15.3% |
| 3Y Excs Rtn | 61.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Chamberlain | 634 | 571 | 558 | 564 | |
| Walden | 595 | 534 | 485 | ||
| Medical and Veterinary | 356 | 346 | 339 | 343 | |
| Financial Services | 186 | ||||
| Medical and Healthcare | 866 | ||||
| Total | 1,585 | 1,451 | 1,382 | 907 | 1,052 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Chamberlain | 138 | 136 | 127 | 129 | |
| Walden | 131 | 110 | 105 | ||
| Medical and Veterinary | 72 | 67 | 69 | 68 | |
| Asset impairments | 0 | ||||
| Strategic advisory costs | 0 | ||||
| Loss on assets held for sale | -1 | 0 | |||
| Debt modification costs | -1 | 0 | |||
| Restructuring expense | -2 | -19 | -26 | -7 | -29 |
| Litigation reserve | -18 | -10 | 0 | ||
| Home Office | -31 | -26 | -33 | -40 | -24 |
| Business integration expense | -34 | -43 | -53 | -32 | |
| Amortization of acquired intangible assets | -36 | -61 | -97 | ||
| CEO transition costs | 0 | -6 | |||
| Deferred revenue adjustment | 0 | -9 | |||
| Gain on sale of assets | 13 | 0 | 5 | ||
| Financial Services | 22 | ||||
| Medical and Healthcare | 168 | ||||
| Total | 217 | 168 | 77 | 118 | 142 |
Price Behavior
Price Behavior
| Market Price | $96.07 | |
| Market Cap ($ Bil) | 3.4 | |
| First Trading Date | 06/28/1991 | |
| Distance from 52W High | -37.8% | |
| 50 Days | 200 Days | |
| DMA Price | $105.66 | $119.79 |
| DMA Trend | down | down |
| Distance from DMA | -9.1% | -19.8% |
| 3M | 1YR | |
| Volatility | 41.2% | 51.3% |
| Downside Capture | 212.29 | 31.23 |
| Upside Capture | 107.26 | 17.36 |
| Correlation (SPY) | 11.4% | 22.3% |
ATGE Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | � | 0.15 | 0.30 | 0.27 | 0.62 | 0.77 |
| Up Beta | � | -0.33 | 0.03 | 1.00 | 0.83 | 0.92 |
| Down Beta | � | -0.95 | -0.80 | 0.09 | 0.76 | 0.85 |
| Up Capture | 0% | 35% | 80% | -43% | 13% | 49% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 0 | 9 | 21 | 55 | 128 | 408 |
| Down Capture | -0% | 87% | 96% | 72% | 41% | 76% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 0 | 9 | 18 | 47 | 99 | 312 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATGE | |
|---|---|---|---|---|
| ATGE | -5.7% | 51.6% | 0.07 | - |
| Sector ETF (XLY) | 9.1% | 23.7% | 0.31 | 20.4% |
| Equity (SPY) | 16.1% | 19.0% | 0.67 | 24.8% |
| Gold (GLD) | 50.5% | 28.0% | 1.46 | 5.5% |
| Commodities (DBC) | 16.2% | 17.7% | 0.77 | 3.3% |
| Real Estate (VNQ) | 3.6% | 16.5% | 0.04 | 24.9% |
| Bitcoin (BTCUSD) | -21.5% | 44.0% | -0.42 | 5.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATGE | |
|---|---|---|---|---|
| ATGE | 18.7% | 42.1% | 0.55 | - |
| Sector ETF (XLY) | 6.3% | 23.7% | 0.23 | 26.5% |
| Equity (SPY) | 11.6% | 17.0% | 0.53 | 29.2% |
| Gold (GLD) | 21.7% | 17.8% | 1.00 | 3.8% |
| Commodities (DBC) | 11.6% | 18.8% | 0.51 | 5.6% |
| Real Estate (VNQ) | 3.3% | 18.8% | 0.08 | 23.3% |
| Bitcoin (BTCUSD) | 3.9% | 56.5% | 0.29 | 12.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATGE | |
|---|---|---|---|---|
| ATGE | 18.3% | 40.2% | 0.56 | - |
| Sector ETF (XLY) | 12.0% | 21.9% | 0.50 | 33.3% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 35.6% |
| Gold (GLD) | 14.0% | 15.9% | 0.73 | 0.9% |
| Commodities (DBC) | 8.4% | 17.6% | 0.40 | 11.9% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | 27.9% |
| Bitcoin (BTCUSD) | 66.2% | 66.8% | 1.06 | 9.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/28/2026 | -7.0% | -13.3% | -17.1% |
| 10/30/2025 | -30.9% | -32.9% | -33.5% |
| 8/7/2025 | 2.2% | 7.6% | 14.3% |
| 5/8/2025 | 17.6% | 12.5% | 4.8% |
| 1/30/2025 | 4.6% | 6.6% | -2.5% |
| 10/29/2024 | 9.5% | 8.4% | 21.0% |
| 8/6/2024 | -8.6% | -2.1% | -3.6% |
| 5/2/2024 | 14.7% | 22.1% | 25.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 16 | 14 |
| # Negative | 9 | 8 | 10 |
| Median Positive | 7.7% | 7.1% | 11.5% |
| Median Negative | -7.1% | -9.2% | -11.2% |
| Max Positive | 17.6% | 25.7% | 33.7% |
| Max Negative | -30.9% | -32.9% | -33.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 01/28/2026 | 10-Q |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 01/30/2025 | 10-Q |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-K |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 01/30/2024 | 10-Q |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-K |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-K |
| 03/31/2022 | 05/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q2 2026 Earnings Reported 1/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.90 Bil | 1.92 Bil | 1.94 Bil | 0 | Affirmed | Guidance: 1.92 Bil for 2026 | |
| 2026 Adjusted EPS | 7.8 | 7.9 | 8 | 1.9% | Raised | Guidance: 7.75 for 2026 | |
Prior: Q1 2026 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.90 Bil | 1.92 Bil | 1.94 Bil | 0 | Affirmed | Guidance: 1.92 Bil for 2026 | |
| 2026 Revenue Growth | 6.0% | 7.25% | 8.5% | 0 | 0 | Affirmed | Guidance: 7.25% for 2026 |
| 2026 Adjusted EPS | 7.6 | 7.75 | 7.9 | 0 | Affirmed | Guidance: 7.75 for 2026 | |
| 2026 Adjusted EPS Growth | 14.0% | 16.25% | 18.5% | 0 | 0 | Affirmed | Guidance: 16.25% for 2026 |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Phelan, Kenneth J | Direct | Buy | 11052025 | 98.29 | 508 | 49,931 | 1,846,181 | Form | |
| 2 | Malafronte, Michael W | Direct | Buy | 11042025 | 91.85 | 1,000 | 91,850 | 9,225,873 | Form | |
| 3 | Wardell, Lisa W | Direct | Sell | 8292025 | 132.38 | 25,477 | 3,372,663 | 5,752,074 | Form | |
| 4 | Wardell, Lisa W | Direct | Sell | 8272025 | 135.22 | 18,392 | 2,486,889 | 9,320,155 | Form | |
| 5 | Gangadharan, Manjunath | VP, Chief Accounting Officer | Direct | Sell | 8272025 | 135.67 | 944 | 128,072 | 664,919 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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