Loading institutional data...
Loading institutional data...
Insufficient data to determine institutional momentum.
Data as of Q3 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading analysis...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading insider activity...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 13 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EDU | $7.6B | — | 7.1× | 1.3× | 15.5% | 54.6% | 8.4% | 11.9% | 11.9% | -2.2× | — |
| TAL | $5.6B | 3.7× | 11.9× | 1.9× | 33.7% | 55.4% | 17.6% | 14.1% | 14.1% | -4.4× | 29 |
| LAUR | $5.0B | 19.1× | 9.8× | 2.9× | 8.6% | 28.3% | 16.5% | 23.7% | 21.4% | -0.0× | 68 |
| GHC | $4.9B | 17.5× | 17.6× | 1.0× | 2.5% | — | 6.0% | 6.1% | 5.2% | 1.9× | 69 |
| CVSA | $4.4B | 18.3× | 10.8× | 2.2× | 9.3% | 57.3% | 12.9% | 17.4% | 11.9% | 0.6× | — |
| LOPE | $4.0B | 20.0× | 13.2× | 3.6× | 7.1% | — | 19.5% | 28.9% | 28.9% | -0.4× | 90 |
| LRN | $3.4B | 11.3× | 5.3× | 1.4× | 4.7% | 37.8% | 13.4% | 20.7% | 16.5% | -0.6× | 69 |
| DAO | $2.3B | 148.5× | — | 2.8× | 9.6% | 44.3% | 1.6% | -5.0% | -5.0% | — | 3 |
| PRDO | $2.0B | 13.0× | 7.8× | 2.3× | 24.2% | — | 18.9% | 16.4% | 16.4% | -0.5× | 62 |
| STRA | $1.7B | 14.4× | 7.1× | 1.4× | 4.0% | — | 10.0% | 7.7% | 7.7% | -0.6× | 59 |
| UTI | $1.3B | 20.9× | 10.8× | 1.6× | 14.0% | — | 7.5% | 19.2% | 15.2% | -0.3× | 37 |
| APEI | $811M | 32.6× | 11.4× | 1.3× | 3.9% | 54.2% | 4.9% | 10.7% | 8.1% | -1.2× | 30 |
| LINC | $702M | 34.6× | 13.6× | 1.4× | 17.8% | 60.4% | 3.9% | 10.0% | 10.0% | -0.6× | 24 |
| LGCY | $127M | 15.0× | 8.4× | 1.6× | 24.8% | — | 11.4% | 17.3% | 17.3% | -1.8× | 9 |
Peers = companies sharing LAUR's sector (Services-Educational Services) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $33.22 today, the market must believe free cash flow compounds 5.3%/yr for a decade (off $206.1M on the 3-yr avg basis).
On the basis ($196.7M) the requirement is 5.9%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 5.3% is more conservative than its 7-yr track record.
Default is 8.3% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.14B shares (market data) · net debt -$19.0M
mean -15.7% · volatility σ 101% · implied rate exceeded in 3/6 yrs
Central path = implied 5.3%/yr growth; shaded band = ±1σ (101%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $215.2M buybacks = $215.2M returned on $263.1M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 21%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.70B 100.0% | $1.57B 100.0% | $1.48B 100.0% | $1.24B 100.0% | $1.09B 100.0% | $1.02B 100.0% | $1.21B 100.0% | $1.14B 100.0% | $3.33B 100.0% | $3.30B 100.0% |
| Cost of Revenue | $1.22B 71.7% | $1.15B 73.2% | $1.09B 73.4% | $907.4M 73.0% | $814.5M 75.0% | $802.5M 78.3% | $949.5M 78.3% | $904.0M 79.0% | $2.78B 83.3% | $2.79B 84.5% |
| Selling, General & Admin | $51.1M 3.0% | $45.8M 2.9% | $52.6M 3.5% | $64.8M 5.2% | $204.4M 18.8% | $199.8M 19.5% | $226.3M 18.7% | $267.4M 23.4% | $315.5M 9.5% | $222.5M 6.7% |
| Operating Income | $431.1M 25.3% | $374.0M 23.9% | $338.8M 22.8% | $270.0M 21.7% | -$4.6M -0.4% | -$329.3M -32.1% | $36.0M 3.0% | -$26.8M -2.3% | $235.2M 7.1% | $290.7M 8.8% |
| Interest Expense | $10.7M 0.6% | $18.1M 1.2% | $21.0M 1.4% | $16.4M 1.3% | $46.3M 4.3% | $100.9M 9.8% | $125.0M 10.3% | $188.4M 16.5% | $334.9M 10.0% | $390.4M 11.8% |
| Other Income (Expense), net | $7.9M 0.5% | $1.2M 0.1% | -$325K -0.0% | $770K 0.1% | -$1.7M -0.2% | -$2.4M -0.2% | $8.9M 0.7% | $10.6M 0.9% | -$1.9M -0.1% | $457K 0.0% |
| Pretax Income | $400.9M 23.6% | $414.5M 26.5% | $254.5M 17.1% | $245.9M 19.8% | -$137.5M -12.7% | -$450.8M -44.0% | -$119.7M -9.9% | -$120.1M -10.5% | -$76.8M -2.3% | $367.1M 11.1% |
| Income Tax Expense | $117.3M 6.9% | $119.0M 7.6% | $137.6M 9.3% | $185.4M 14.9% | $145.6M 13.4% | -$130.1M -12.7% | $31.0M 2.6% | $71.2M 6.2% | -$93.0M -2.8% | $34.4M 1.0% |
| Net Income | $281.6M 16.5% | $296.5M 18.9% | $107.6M 7.2% | $69.6M 5.6% | $192.4M 17.7% | -$613.3M -59.8% | $938.5M 77.4% | $370.1M 32.3% | $91.5M 2.7% | $371.8M 11.3% |
| Per Share | ||||||||||
| EPS (Basic) | $1.91 | $1.93 | $0.69 | $0.42 | $1.01 | -$2.93 | $4.23 | $1.79 | -$1.20 | $2.78 |
| EPS (Diluted) | $1.89 | $1.92 | $0.68 | $0.41 | $1.01 | -$2.93 | $4.23 | $1.73 | -$1.20 | $2.76 |
| Weighted Avg Shares (Basic) | 147.8M | 153.3M | 157.3M | 167.7M | 189.7M | 209.7M | 221.9M | — | — | — |
| Weighted Avg Shares (Diluted) | 148.7M | 153.9M | 157.9M | 168.3M | 189.7M | 209.7M | 221.9M | 212.8M | 172.4M | 134.4M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~8.3% on $127.7M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-30 | Munoz George Director | Grant | 556 | $38.16 | $21k |
| 2026-09-02 | 21 co-filers Group filing | Open-market saleindirect | 427,019 | $36.26 | $15.5m |
| 2026-09-01 | 21 co-filers Group filing | Open-market saleindirect | 2,654 | $38.11 | $101k |
| 2026-08-31 |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
EOD close · as of 2026-10-30
Earns 11.18pts above its cost of capital, positive in 4 of the last 5 years.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 15.5% | 8.8% | 11.3% |
| FY2017 | 16.7% | 7.1% | 2.7% |
| FY2018 | 21.0% | -2.3% | 32.3% |
| FY2019 | 21.7% | 3.0% | 77.4% |
| FY2020 | 21.7% | -32.1% | -59.8% |
| FY2021 | 25.0% | -0.4% | 17.7% |
| FY2022 | 27.0% | 21.7% | 5.6% |
| FY2023 | 26.6% | 22.8% | 7.2% |
| FY2024 | 26.8% | 23.9% | 18.9% |
| FY2025 | 28.3% | 25.3% | 16.5% |
ROIC ex-goodwill is 33.57% against 19.5% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
21 co-filers Group filing |
| Open-market saleindirect |
| 91,556 |
| $38.43 |
| $3.5m |
| 2026-06-30 | Munoz George Director | Grant | 585 | $36.32 | $21k |
| 2026-05-21 | Coulter Julian George Director | Grant | 3,252 | $0.00 | $0 |
| 2026-05-21 | De Macedo Aristides Director | Grant | 5,308 | $0.00 | $0 |
| 2026-05-21 | Mair Barbara Director | Grant | 5,308 | $0.00 | $0 |
| 2026-05-21 | Del Corro Pedro Director | Grant | 5,308 | $0.00 | $0 |
| 2026-05-21 | Munoz George Director | Grant | 5,308 | $0.00 | $0 |
| 2026-05-21 | Davis William J Director | Grant | 5,308 | $0.00 | $0 |
| 2026-05-21 | 7 co-filers Group filing | Grantindirect | 5,308 | $0.00 | $0 |
| 2026-05-21 | Rodin Judith Director | Grant | 361 | $32.97 | $12k |
| 2026-05-21 | Cohen Andrew B Director | Grant | 7,849 | $0.00 | $0 |
| 2026-03-31 | Munoz George Director | Grant | 609 | $34.84 | $21k |
| 2026-03-31 | Rodin Judith Director | Grant | 609 | $34.84 | $21k |
| 2026-03-17 | Cardoso Marcelo EVP & CHIEF OPERATING OFFICER | 10b5-1 plan sale | 7,300 | $33.91 | $248k |
| 2026-03-15 | Brush Leslie S SVP, CHIEF LEGAL OFFICER | Tax withholding | 2,695 | $34.26 | $92k |
| 2026-03-15 | Buskirk Richard M. SVP & CHIEF FINANCIAL OFFICER | Tax withholding | 12,391 | $34.26 | $425k |
| 2026-03-15 | Knauer Gerard M. VP, ACCTG, GLOBAL CONTROLLER | Tax withholding | 1,124 | $34.26 | $39k |
| 2026-03-15 | Serck-Hanssen Eilif PRESIDENT & CEO | Tax withholding | 44,478 | $34.26 | $1.5m |
| 2026-03-11 | 4 co-filers SVP & CHIEF FINANCIAL OFFICER | Option exercise | 2,803 | $7.64 | $21k |
| 2026-03-11 | 4 co-filers SVP & CHIEF FINANCIAL OFFICER | Exercise & sell | 60,803 | $33.68 | $2.0m |
| 2026-03-11 | 4 co-filers SVP & CHIEF FINANCIAL OFFICER | Exercise & sell | 1,000 | $34.34 | $34k |
| 2026-03-11 | 4 co-filers SVP & CHIEF FINANCIAL OFFICER | Option exercise | 2,803 | $0.00 | — |
| 2026-02-06 | 2 co-filers PRESIDENT & CEO | Grant | 52,486 | $0.00 | $0 |
| 2026-02-06 | 2 co-filers EVP & CHIEF OPERATING OFFICER | Grant | 12,059 | $0.00 | $0 |
| 2026-02-06 | 2 co-filers SVP & CHIEF FINANCIAL OFFICER | Grant | 10,671 | $0.00 | $0 |
| 2026-02-06 | 2 co-filers SVP, CHIEF LEGAL OFFICER | Grant | 5,923 | $0.00 | $0 |
| 2026-02-06 | 2 co-filers VP, ACCTG, GLOBAL CONTROLLER | Grant | 1,212 | $0.00 | $0 |
| 2026-02-06 | 2 co-filers PRESIDENT & CEO | Grant | 113,024 | $0.00 | $0 |
| 2026-02-06 | 2 co-filers SVP, CHIEF LEGAL OFFICER | Grant | 9,795 | $0.00 | $0 |
| 2026-02-06 | 2 co-filers SVP & CHIEF FINANCIAL OFFICER | Grant | 26,884 | $0.00 | $0 |
| 2026-01-02 | Cardoso Marcelo EVP & CHIEF OPERATING OFFICER | 10b5-1 plan sale | 6,543 | $33.54 | $219k |
| 2025-12-31 | Brush Leslie S SVP, CHIEF LEGAL OFFICER | Tax withholding | 2,264 | $33.94 | $77k |
| 2025-12-31 | Buskirk Richard M. SVP & CHIEF FINANCIAL OFFICER | Tax withholding | 12,270 | $33.94 | $416k |
| 2025-12-31 | Knauer Gerard M. VP, ACCTG, GLOBAL CONTROLLER | Tax withholding | 1,001 | $33.94 | $34k |
| 2025-12-31 | Serck-Hanssen Eilif PRESIDENT & CEO | Tax withholding | 38,699 | $33.94 | $1.3m |
| 2025-12-31 | Munoz George Director | Grant | 631 | $33.67 | $21k |
| 2025-12-31 | Rodin Judith Director | Grant | 631 | $33.67 | $21k |
Where each multiple sits in its own 9-yr range · 75th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 9-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 24% against ROIC 21% — 2% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 26.2% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 79.0 | 78.3 | 78.3 | 75.0 | 73.0 | 73.4 | 73.2 | 71.7 |
| SG&A | 23.4 | 18.7 | 19.5 | 18.8 | 5.2 | 3.5 | 2.9 | 3.0 |
| Operating Income | -2.3 | 3.0 | -32.1 | -0.4 | 21.7 | 22.8 | 23.9 | 25.3 |
| Income Tax | 6.2 | 2.6 | -12.7 | 13.4 | 14.9 | 9.3 | 7.6 | 6.9 |
| Net Income | 32.3 | 77.4 | -59.8 | 17.7 | 5.6 | 7.2 | 18.9 | 16.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on LAUR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Leverage and buybacks account for 2 points of the 24% return on equity in FY2025. The business earns 21% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$648M of goodwill — 42% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 0.6% | 8.3% (today's — no rate published for this year) | -7.8pts |
| FY2020 | -7.5% | 8.3% (today's — no rate published for this year) | -15.9pts |
| FY2021 | -0.2% | 7.8% | -8.1pts |
| FY2022 | 13.9% | 7.0% | 6.9pts |
| FY2023 | 16.1% | 6.5% | 9.6pts |
| FY2024 | 19.7% | 7.4% | 12.4pts |
| FY2025 | 19.0% | 8.1% | 10.9pts |
| Now | 21.4% | 8.3% | 13.1pts |
Converts 0.80x of reported profit into cash — adequate, without much margin.
| Step | Amount | Running total |
|---|---|---|
| Net income | $282M | $282M |
| Share-based comp | $13M | $295M |
| Other non-cash & working capital | $71M | $366M |
| Operating cash flow | $366M | $366M |
| Capex | −$103M | $263M |
| Free cash flow | $263M | $263M |
| FCF after SBC | $250M | $250M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -15.4% | not reported | not reported |
| FY2021 | 6.0% | not reported | not reported |
| FY2022 | 14.3% | not reported | not reported |
| FY2023 | 19.5% | not reported | not reported |
| FY2024 | 5.5% | not reported | not reported |
| FY2025 | 8.6% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | 9.2 percent |
| FY2020 | -17.6 percent |
| FY2021 | 15.8 percent |
| FY2022 | -5.5 percent |
| FY2023 | -6.7 percent |
| FY2024 | 3.4 percent |
| FY2025 | -3.8 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
The cash conversion cycle could not be computed — receivables, inventory or cost of revenue is not reported — so the earliest accrual warning is not part of this verdict.
Covers interest 28.3x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 40.44x |
| 5% | 38.42x |
| 10% | 36.39x |
| 15% | 34.37x |
| 20% | 32.35x |
| 25% | 30.33x |
| 30% | 28.31x |
| 35% | 26.28x |
| 40% | 24.26x |
| 45% | 22.24x |
| 50% | 20.22x |
| 55% | 18.20x |
| 60% | 16.17x |
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $387,763,000 of the $515,471,000 total — a fixed obligation that does not appear in a headline debt figure.
At $36.01, free cash flow must compound 7.49%/yr for 10 years. It has done 6.13%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 0.4% | 7.5% |
| FY2021 | −211.7% | 7.5% |
| FY2023 | 54.9% | 7.5% |
| FY2024 | −17.2% | 7.5% |
| FY2025 | 63.6% | 7.5% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The implied rate has been matched or beaten in 2 of the last 5 years.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.