Lincoln Educational Services (LINC)
Market Price (4/30/2026): $40.99 | Market Cap: $1.3 BilSector: Consumer Discretionary | Industry: Education Services
Lincoln Educational Services (LINC)
Market Price (4/30/2026): $40.99Market Cap: $1.3 BilSector: Consumer DiscretionaryIndustry: Education Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% Low stock price volatilityVol 12M is 45% Megatrend and thematic driversMegatrends include Electrification of Everything, and Renewable Energy Transition. Themes include Heat Pump Technology, EV Charging Infrastructure (Utility Role), Show more. | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 42x, P/EPrice/Earnings or Price/(Net Income) is 62x Stock price has recently run up significantly12M Rtn12 month market price return is 136% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.3% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 64% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.4% Key risksLINC key risks include [1] failure to comply with extensive federal regulations like the 90/10 Rule, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 45% |
| Megatrend and thematic driversMegatrends include Electrification of Everything, and Renewable Energy Transition. Themes include Heat Pump Technology, EV Charging Infrastructure (Utility Role), Show more. |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 42x, P/EPrice/Earnings or Price/(Net Income) is 62x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 136% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.3% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 64% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.4% |
| Key risksLINC key risks include [1] failure to comply with extensive federal regulations like the 90/10 Rule, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Lincoln Educational Services reported robust fourth-quarter and full-year 2025 financial results, exceeding market expectations and providing strong 2026 guidance.
The company announced fourth-quarter 2025 revenue of $142.9 million, a 19.7% increase from the prior year and surpassing forecasts by $10.1 million. Net income for the quarter rose to $12.7 million, or $0.40 per share, compared to $6.8 million ($0.22 per share) in the same period last year. For the full year 2025, total revenue increased by 17.8% to $518.2 million, and net income surged by 102.2% to $20.0 million. The company also forecasted continued strong growth for the full year 2026. Following these results, LINC shares gained 10.2% on the day of the earnings announcement.
2. The company experienced significant student enrollment growth, particularly in its high-demand Transportation and Skilled Trades segments.
In the fourth quarter of 2025, Lincoln Educational Services saw a 15.7% growth in student starts and a 14.9% increase in its student population (excluding the Transitional segment). The Transportation and Skilled Trades segment demonstrated remarkable growth, with new student starts rising by 23% for both the quarter and the full year. This momentum is expected to continue, with first-quarter 2026 student start growth projected to increase by 19%.
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Stock Movement Drivers
Fundamental Drivers
The 67.1% change in LINC stock from 12/31/2025 to 4/29/2026 was primarily driven by a 35.1% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.15 | 40.35 | 67.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 495 | 518 | 4.7% |
| Net Income Margin (%) | 2.9% | 3.9% | 35.1% |
| P/E Multiple | 53.0 | 62.5 | 17.9% |
| Shares Outstanding (Mil) | 31 | 31 | 0.1% |
| Cumulative Contribution | 67.1% |
Market Drivers
12/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| LINC | 67.1% | |
| Market (SPY) | 5.2% | 15.3% |
| Sector (XLY) | -2.0% | 20.5% |
Fundamental Drivers
The 71.7% change in LINC stock from 9/30/2025 to 4/29/2026 was primarily driven by a 26.4% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.50 | 40.35 | 71.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 468 | 518 | 10.8% |
| Net Income Margin (%) | 3.1% | 3.9% | 26.4% |
| P/E Multiple | 51.0 | 62.5 | 22.6% |
| Shares Outstanding (Mil) | 31 | 31 | 0.1% |
| Cumulative Contribution | 71.7% |
Market Drivers
9/30/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| LINC | 71.7% | |
| Market (SPY) | 8.0% | 22.2% |
| Sector (XLY) | -2.1% | 21.3% |
Fundamental Drivers
The 154.3% change in LINC stock from 3/31/2025 to 4/29/2026 was primarily driven by a 71.7% change in the company's Net Income Margin (%).| (LTM values as of) | 3312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.87 | 40.35 | 154.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 440 | 518 | 17.8% |
| Net Income Margin (%) | 2.2% | 3.9% | 71.7% |
| P/E Multiple | 49.2 | 62.5 | 26.9% |
| Shares Outstanding (Mil) | 31 | 31 | -0.9% |
| Cumulative Contribution | 154.3% |
Market Drivers
3/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| LINC | 154.3% | |
| Market (SPY) | 29.3% | 26.8% |
| Sector (XLY) | 19.3% | 26.3% |
Fundamental Drivers
The 612.9% change in LINC stock from 3/31/2023 to 4/29/2026 was primarily driven by a 427.4% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.66 | 40.35 | 612.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 348 | 518 | 48.8% |
| Net Income Margin (%) | 3.6% | 3.9% | 6.4% |
| P/E Multiple | 11.8 | 62.5 | 427.4% |
| Shares Outstanding (Mil) | 26 | 31 | -14.6% |
| Cumulative Contribution | 612.9% |
Market Drivers
3/31/2023 to 4/29/2026| Return | Correlation | |
|---|---|---|
| LINC | 612.9% | |
| Market (SPY) | 81.5% | 34.4% |
| Sector (XLY) | 60.1% | 33.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LINC Return | 15% | -22% | 73% | 58% | 53% | 64% | 510% |
| Peers Return | -4% | 10% | 50% | 50% | 20% | 7% | 205% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 90% |
Monthly Win Rates [3] | |||||||
| LINC Win Rate | 58% | 42% | 75% | 67% | 58% | 75% | |
| Peers Win Rate | 48% | 47% | 67% | 50% | 55% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| LINC Max Drawdown | -11% | -37% | -12% | -11% | -9% | -3% | |
| Peers Max Drawdown | -23% | -23% | -10% | -8% | -9% | -7% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: UTI, ATGE, PRDO, LAUR, STRA.
[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 4/29/2026 (YTD)
How Low Can It Go
| Event | LINC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -42.0% | -25.4% |
| % Gain to Breakeven | 72.3% | 34.1% |
| Time to Breakeven | 297 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -42.4% | -33.9% |
| % Gain to Breakeven | 73.7% | 51.3% |
| Time to Breakeven | 235 days | 148 days |
| 2018 Correction | ||
| % Loss | -57.5% | -19.8% |
| % Gain to Breakeven | 135.3% | 24.7% |
| Time to Breakeven | 822 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -31.9% | -56.8% |
| % Gain to Breakeven | 46.9% | 131.3% |
| Time to Breakeven | 116 days | 1,480 days |
Compare to UTI, ATGE, PRDO, LAUR, STRA
In The Past
Lincoln Educational Services's stock fell -42.0% during the 2022 Inflation Shock from a high on 6/28/2021. A -42.0% loss requires a 72.3% gain to breakeven.
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About Lincoln Educational Services (LINC)
AI Analysis | Feedback
- Universal Technical Institute (UTI) but for a broader range of careers, including healthcare, culinary arts, and more skilled trades like HVAC and welding.
- A multi-campus vocational education system, similar to a hands-on, career-focused DeVry University.
AI Analysis | Feedback
Lincoln Educational Services (LINC) provides the following major educational services:
- Automotive Technology Education: Offers associate's degrees, diplomas, and certificates for careers in automotive repair and maintenance.
- Skilled Trades Education: Provides training in fields such as electrical, heating and air conditioning repair, welding, and computerized numerical control.
- Healthcare Professions Education: Delivers programs for roles like nursing, dental and medical assistant, and medical administrative assistant.
- Culinary & Hospitality Education: Includes training in culinary arts, therapeutic massage, cosmetology, and aesthetics.
- Information Technology Programs: Offers various educational programs focused on information technology skills and careers.
AI Analysis | Feedback
Lincoln Educational Services (LINC) primarily sells its educational services to **individuals** rather than other companies. Its major customers are students seeking post-secondary education and career training.
The company serves the following categories of individual customers:
- High School Graduates: Individuals who have recently completed high school and are seeking to acquire specific career skills or an associate's degree to enter the workforce or advance their education.
- Working Adults: Individuals already in the workforce who are looking to enhance their skills, change careers, obtain certifications, or earn a degree to advance in their current profession or transition into a new one.
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Scott M. Shaw, President & Chief Executive Officer
Mr. Shaw joined Lincoln Educational Services in 2001 and currently serves as President and Chief Executive Officer. Prior to this role, he held positions including President and Chief Operating Officer, Executive Vice President and Chief Administrative Officer, and Senior Vice President of Strategic Planning and Business Development. Before joining Lincoln, Mr. Shaw was a partner at Stonington Partners, Inc. starting in 1994, where he was responsible for identifying, evaluating, acquiring, and overseeing companies, including assisting in their eventual sale. He also served as a consultant to Merrill Lynch Capital Partners Inc., a private investment firm, from 1994 through 2000.
Brian K. Meyers, Executive Vice President, Chief Financial Officer and Treasurer
Mr. Meyers joined Lincoln Educational Services in 2002 and currently serves as Executive Vice President, Chief Financial Officer and Treasurer. He brings over 25 years of accounting and financial management experience to his role. Before his tenure at Lincoln, Mr. Meyers was Vice President and Controller for Candie's Inc. He began his career in 1989 with Richard A. Eisner (now EisnerAmper LLP), a public accounting firm. Mr. Meyers is a Certified Public Accountant.
Chad D. Nyce, Executive Vice President and Chief Operating Officer
Mr. Nyce joined Lincoln Educational Services in 2020 and is currently the Executive Vice President and Chief Operating Officer. Previously, he served as Executive Vice President and Chief Innovation Officer at Lincoln. Prior to joining Lincoln, he was the Chief Operating Officer at Strayer University, LLC (a subsidiary of Strategic Education, Inc.) from 2007 to 2019, and Regional Vice President of Operations for InteliStaf Healthcare, Inc. from 2004 to 2007.
Alexandra M. Luster, Senior Vice President, General Counsel & Corporate Secretary
Ms. Luster joined Lincoln Educational Services in 1995 and serves as Senior Vice President, General Counsel & Corporate Secretary. She has over 30 years of legal experience, overseeing the Company's Legal and Regulatory & Compliance Departments.
Neal Goldstein, Senior Vice President and Chief Information Officer
Mr. Goldstein joined Lincoln Educational Services in 2025 as Senior Vice President and Chief Information Officer. Before joining Lincoln, he held the position of Chief Technology Officer at Mutual of America. He has extensive experience in various Chief Technology Officer and Chief Information Officer roles within the financial services industry.
AI Analysis | Feedback
The key risks to Lincoln Educational Services (LINC) are primarily associated with the highly regulated nature of the for-profit education industry and the intense competition for student enrollment.Regulatory Compliance and Dependence on Federal Funding
Lincoln Educational Services, like other for-profit educational institutions, faces significant risks due to its heavy reliance on federal student financial aid programs, particularly Title IV funding, which constituted approximately 85% of its revenue in 2025. The for-profit education sector is subject to extensive and evolving federal and state regulations. Changes in policies related to the "90/10 Rule" (requiring at least 10% of revenue from non-federal sources), gainful employment regulations, and financial responsibility standards pose a substantial threat. Non-compliance or adverse changes in these regulations could lead to financial penalties, operational restrictions, increased oversight, or even the loss of eligibility for federal aid, which would severely impact LINC's revenue and operations.
Competition and Enrollment Trends
LINC operates in a highly competitive market, vying for students with other for-profit schools, public colleges, and online education providers. Public institutions often benefit from state appropriations, enabling them to offer lower tuition rates, which can put for-profit schools like Lincoln at a disadvantage. Declines in overall enrollment, increased competition, or shifts in labor market conditions that reduce the perceived value or demand for certain programs could negatively impact student acquisition and retention, leading to reduced revenues.
Operational Execution of Growth Strategy and Capital Intensity
Lincoln Educational Services is actively pursuing a growth strategy that involves campus expansions and relocations, which are capital-intensive undertakings. There is an inherent risk that these expansions or relocations may not proceed as planned or fail to attract sufficient enrollment to justify the investment, potentially impacting near-term margins and free cash flow, which has been negative due to these capital investments. Effective operational execution is crucial for realizing the expected returns from these strategic initiatives.
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Online vocational and certificate programs, including specialized bootcamps and micro-credentialing platforms, that offer more flexible, often lower-cost, and sometimes faster pathways to acquire career-specific skills, directly competing with Lincoln Educational Services' in-person programs.
Employer-led and industry-consortium apprenticeship programs that recruit directly from high schools and other entry points, providing on-the-job training and certifications, thereby bypassing traditional post-secondary vocational schools for skilled trades and other technical professions.
AI Analysis | Feedback
Lincoln Educational Services (LINC) operates in several career-oriented post-secondary education sectors across the United States. The addressable markets for its main products and services in the U.S. are as follows:
Transportation and Skilled Trades
- Automotive Technology: The U.S. job market for automotive technicians is experiencing a significant demand, with an estimated 67,000 positions needing to be filled annually through 2033. The U.S. Bureau of Labor Statistics also estimates that about 76,000 new automotive technicians and mechanics will be required each year for the next ten years to offset retirements and those leaving the industry. In 2023, approximately 37,616 degrees were awarded in Automobile Mechanics Technology in the U.S..
- Skilled Trades (electrical, HVAC, welding, computerized numerical control, electrical and electronic systems technology): The Trade & Technical Schools industry in the United States, which encompasses these skilled trades, has a market size of an estimated $17.5 billion in 2026. After a decline, enrollment in Skilled Trades Schools grew at a 1.2% CAGR from 2020 to 2023.
Healthcare and Other Professions
- Nursing Education: The U.S. nursing education market was valued at $9.7 billion in 2024 and is projected to grow at a CAGR of 5.3% between 2025 and 2034. Another estimate places the U.S. nursing education market at USD 9.7 billion in 2024, with expectations to grow at a 5.3% CAGR between 2025 and 2034.
- Dental Assistant Training: The U.S. dental assistant job market is projected to grow by 11% from 2022 to 2032, which is faster than the average for all occupations. This translates to about 55,000 new dental assisting job openings annually in the U.S.. Approximately 371,000 dental assistants are currently employed in the U.S..
- Medical Assistant Training: The U.S. medical assistant job market is expected to grow by 13.8% between 2022 and 2032, with an average of 114,600 job openings available annually. As of May 2023, there were 763,040 medical assistants employed in the United States.
- Other Healthcare Professions (e.g., medical administrative assistant, claim examiner): These roles fall under the broader U.S. healthcare professional training market, which was estimated at $230.6 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030.
Hospitality Services
- Culinary Education: The global cooking class market was valued at an estimated $272.39 billion in 2026 and is projected to reach $497.25 billion by 2035. North America accounts for 41% of this market.
- Cosmetology and Aesthetics: The market size of Cosmetology & Beauty Schools in the U.S. was $2.4 billion in 2024 and is expected to remain $2.4 billion in 2025. The Beauty & Wellness category in trade education was valued at $2.2 billion as of 2024 in the U.S.
- Therapeutic Massage: Null
Information Technology Programs
- The United States IT Training Market was valued at $89.76 billion in 2023 and is anticipated to show robust growth with a CAGR of 6.44% through 2029.
AI Analysis | Feedback
Lincoln Educational Services (LINC) is positioned for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market tailwinds:
- Growth in Student Enrollment: The company consistently reports strong increases in student starts and overall student population. For example, in Q1 2024, student starts increased by 15.3%, contributing to a nearly 20% revenue growth. The company also saw a 17% year-over-year increase in average student population in Q4 2025, with student starts growing by 15.7%. Looking ahead, Lincoln Educational Services projects an 8-13% growth in student starts for 2026.
- Campus Expansion and Relocations: Lincoln Educational Services is actively expanding its physical footprint to reach more students and address market demand. This includes opening new campuses, such as the East Point, Georgia campus, and planning for additional locations. Strategic relocations of existing campuses, like Nashville and Levittown, Pennsylvania, have been completed, and new campuses in Houston, Texas, and Rowlett, Texas (expected early 2027), are part of the growth strategy. The company plans to add approximately two new campus projects per year.
- Expansion of High-Demand Programs: The company focuses on replicating and launching new programs in high-demand fields to attract more students. This strategy includes introducing new program offerings and expanding existing successful ones, such as the launch of an electrical program at its South Plainfield, NJ campus and plans for seven program replications. These program innovations enhance the company's market position and align with the demand for skilled trades training.
- Leveraging the Lincoln 10.0 Hybrid Instructional Platform: The rollout of the Lincoln 10.0 hybrid teaching model is a key driver for efficiency and accelerated revenue recognition. This platform, which combines hands-on learning with online instruction, is expected to be used in approximately 65% of classes by the end of Q1 2024. The platform enhances flexibility for students and contributes to increased program efficiency and, in some cases, accelerated revenue recognition, particularly in evening programs.
- Development of Corporate Partnerships: Lincoln Educational Services is expanding its revenue streams through new and existing corporate partnerships, offering training services beyond traditional student enrollment. Notable examples include a new contract with Container Maintenance Corporation, valued at approximately $6 million over five years, and expanded relationships with companies like Johnson Controls and New Jersey Transit. These partnerships demonstrate a diversification of service offerings and a source of growth.
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Capital Allocation Decisions for Lincoln Educational Services (LINC)
- Share Repurchases
- Lincoln Educational Services spent $0 on share buybacks in Q3 2024.
- Capital Expenditures
- Capital expenditures for 2025 reached $88 million, predominantly focused on growth initiatives.
- These investments in 2025 were mainly allocated to major expansion projects, including relocating campuses in Nashville and Philadelphia, and opening a new campus in Houston.
- A similar level of capital investment is planned for 2026, with a primary focus on growth initiatives, campus facilities, and technology to support expansion.
Trade Ideas
Select ideas related to LINC.
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| 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% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 36.08 |
| Mkt Cap | 2.0 |
| Rev LTM | 855 |
| Op Inc LTM | 198 |
| FCF LTM | 174 |
| FCF 3Y Avg | 138 |
| CFO LTM | 218 |
| CFO 3Y Avg | 166 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.6% |
| Rev Chg 3Y Avg | 11.2% |
| Rev Chg Q | 19.7% |
| QoQ Delta Rev Chg LTM | 4.3% |
| Op Inc Chg LTM | 15.3% |
| Op Inc Chg 3Y Avg | 52.2% |
| Op Mgn LTM | 15.6% |
| Op Mgn 3Y Avg | 13.7% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 17.2% |
| CFO/Rev 3Y Avg | 14.6% |
| FCF/Rev LTM | 13.7% |
| FCF/Rev 3Y Avg | 11.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.0 |
| P/S | 2.4 |
| P/Op Inc | 10.7 |
| P/EBIT | 11.2 |
| P/E | 16.4 |
| P/CFO | 12.6 |
| Total Yield | 6.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 6.7% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.2% |
| 3M Rtn | 8.5% |
| 6M Rtn | 9.4% |
| 12M Rtn | 38.7% |
| 3Y Rtn | 180.4% |
| 1M Excs Rtn | -16.7% |
| 3M Excs Rtn | 6.2% |
| 6M Excs Rtn | 1.8% |
| 12M Excs Rtn | 11.0% |
| 3Y Excs Rtn | 105.0% |
Price Behavior
| Market Price | $40.35 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 06/23/2005 | |
| Distance from 52W High | -5.4% | |
| 50 Days | 200 Days | |
| DMA Price | $38.39 | $26.47 |
| DMA Trend | up | up |
| Distance from DMA | 5.1% | 52.4% |
| 3M | 1YR | |
| Volatility | 43.7% | 45.2% |
| Downside Capture | -0.32 | 0.07 |
| Upside Capture | 135.86 | 108.21 |
| Correlation (SPY) | 8.8% | 21.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.07 | 0.66 | 0.94 | 1.01 | 0.68 | 1.04 |
| Up Beta | -1.59 | -1.39 | 0.71 | 1.95 | 0.72 | 0.84 |
| Down Beta | 1.57 | 1.36 | 0.94 | 1.20 | 0.76 | 1.03 |
| Up Capture | 280% | 293% | 294% | 170% | 113% | 363% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 13 | 26 | 37 | 73 | 145 | 399 |
| Down Capture | 2% | -100% | -51% | -3% | 13% | 96% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 9 | 16 | 26 | 53 | 106 | 348 |
[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 LINC | |
|---|---|---|---|---|
| LINC | 136.4% | 45.2% | 2.05 | - |
| Sector ETF (XLY) | 19.2% | 18.8% | 0.80 | 20.1% |
| Equity (SPY) | 31.5% | 12.5% | 1.93 | 21.1% |
| Gold (GLD) | 35.2% | 27.2% | 1.09 | 4.6% |
| Commodities (DBC) | 46.7% | 18.1% | 1.99 | -3.7% |
| Real Estate (VNQ) | 12.8% | 13.4% | 0.65 | 17.1% |
| Bitcoin (BTCUSD) | -19.6% | 42.1% | -0.40 | 5.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LINC | |
|---|---|---|---|---|
| LINC | 44.6% | 43.3% | 0.99 | - |
| Sector ETF (XLY) | 6.7% | 23.7% | 0.24 | 30.8% |
| Equity (SPY) | 13.1% | 17.1% | 0.60 | 31.7% |
| Gold (GLD) | 20.1% | 17.8% | 0.92 | 2.7% |
| Commodities (DBC) | 14.6% | 19.1% | 0.63 | 5.0% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 25.3% |
| Bitcoin (BTCUSD) | 8.1% | 56.2% | 0.36 | 12.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LINC | |
|---|---|---|---|---|
| LINC | 33.1% | 57.3% | 0.73 | - |
| Sector ETF (XLY) | 12.5% | 22.0% | 0.52 | 23.0% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 22.9% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 4.9% |
| Commodities (DBC) | 9.6% | 17.7% | 0.45 | 7.6% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 18.7% |
| Bitcoin (BTCUSD) | 67.5% | 66.9% | 1.07 | 4.3% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/23/2026 | 10.2% | 20.8% | 32.0% |
| 11/10/2025 | 12.8% | 17.2% | 25.6% |
| 8/11/2025 | -15.1% | -19.9% | -18.3% |
| 5/12/2025 | 1.9% | 3.7% | 1.1% |
| 2/24/2025 | 15.3% | 14.0% | -1.9% |
| 11/12/2024 | 0.7% | -8.8% | -2.6% |
| 8/8/2024 | 4.5% | 2.5% | -2.1% |
| 5/6/2024 | 10.3% | 9.5% | 0.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 18 | 17 | 13 |
| # Negative | 5 | 6 | 10 |
| Median Positive | 6.2% | 5.5% | 10.8% |
| Median Negative | -6.8% | -12.3% | -3.7% |
| Max Positive | 15.3% | 37.3% | 56.9% |
| Max Negative | -15.1% | -19.9% | -18.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/04/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 03/05/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 580.00 Mil | 585.00 Mil | 590.00 Mil | 15.3% | Higher New | Actual: 507.50 Mil for 2025 | |
| 2026 Adjusted EBITDA | 72.00 Mil | 74.00 Mil | 76.00 Mil | 12.1% | Higher New | Actual: 66.00 Mil for 2025 | |
| 2026 Net Income | 20.00 Mil | 21.50 Mil | 23.00 Mil | 19.4% | Higher New | Actual: 18.00 Mil for 2025 | |
| 2026 Diluted EPS | 0.64 | 0.69 | 0.74 | Higher New | |||
| 2026 Capital Expenditures | 70.00 Mil | 72.50 Mil | 75.00 Mil | -6.4% | Lower New | Actual: 77.50 Mil for 2025 | |
| 2026 Student starts growth | 8.0% | 10.5% | 13.0% | -32.3% | -5.0% | Lower New | Actual: 15.5% for 2025 |
| 2027 Revenue | 600.00 Mil | 2.6% | Higher New | Guidance: 585.00 Mil for 2026 | |||
| 2027 Adjusted EBITDA | 90.00 Mil | 21.6% | Higher New | Guidance: 74.00 Mil for 2026 | |||
Prior: Q3 2025 Earnings Reported 11/10/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 505.00 Mil | 507.50 Mil | 510.00 Mil | 2.5% | Raised | Guidance: 495.00 Mil for 2025 | |
| 2025 Adjusted EBITDA | 65.00 Mil | 66.00 Mil | 67.00 Mil | 5.6% | Raised | Guidance: 62.50 Mil for 2025 | |
| 2025 Net income | 17.00 Mil | 18.00 Mil | 19.00 Mil | 16.1% | Raised | Guidance: 15.50 Mil for 2025 | |
| 2025 Capital expenditures | 75.00 Mil | 77.50 Mil | 80.00 Mil | 0 | Affirmed | Guidance: 77.50 Mil for 2025 | |
| 2025 Student starts | 0.15 | 0.15 | 0.16 | 14.8% | Raised | Guidance: 0.14 for 2025 | |
| 2027 Revenue | 600.00 Mil | Higher New | |||||
| 2027 Adjusted EBITDA | 90.00 Mil | Higher New | |||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nyce, Chad D | EVP & Chief Operating Officer | Direct | Sell | 3122026 | 36.50 | 8,450 | 308,425 | 6,358,519 | Form |
| 2 | Young, Sylvia Jean | Direct | Sell | 3092026 | 35.81 | 7,959 | 285,012 | 454,680 | Form | |
| 3 | Plater, Michael A | Direct | Sell | 3022026 | 35.73 | 17,256 | 616,557 | 627,705 | Form | |
| 4 | Juniper, Investment Company, Llc | Juniper Targeted Opportunity Fund, L.P. | Sell | 2272026 | 34.55 | 275,000 | 9,500,645 | 72,146,551 | Form | |
| 5 | Burke, James J JR | Direct | Sell | 2262026 | 34.87 | 3,214 | 112,072 | 2,570,024 | 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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