Bridgepoint Education, Inc., together with its subsidiaries, provides postsecondary education services in the United States.
The last earnings update was 102 days ago.
More info.
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
It is not possible to calculate the future cash flow value for
Bridgepoint Education. This is due to cash flow or dividend data being
unavailable. The share price is
€8.24.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
Bridgepoint Education's
earnings,
growth
and
assets
is considered below, and whether this is a fair price.
Price based on past earnings
Are
Bridgepoint Education's earnings available for a low price, and how does
this compare to other companies in the same industry?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.
Future estimates come from
professional analysts. Just like forecasting the weather, they don’t always get
it right!
7.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is
Bridgepoint Education
expected to grow at an
attractive
rate?
Bridgepoint Education's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
Bridgepoint Education's earnings growth is positive but not above the Germany market average.
Bridgepoint Education's revenue growth is positive but not above the Germany market average.
Bridgepoint Education's earnings are expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).
Bridgepoint Education's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
All data from Bridgepoint Education Company Filings, last reported 4 months ago, and in
Trailing twelve months (TTM)
annual period rather than quarterly.
DB:0BD Future Estimates Data
Date (Data in USD Millions)
EPS *
EPS High Estimate
EPS Low Estimate
Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
0.79
0.87
0.70
2.00
2019-12-31
0.62
0.72
0.51
2.00
2018-12-31
0.71
0.71
0.71
1.00
DB:0BD Past Financials Data
Date (Data in USD Millions)
EPS *
2018-09-30
0.66
2018-06-30
0.50
2018-03-31
0.10
2017-12-31
0.33
2017-09-30
0.07
2017-06-30
-0.17
2017-03-31
-0.22
2016-12-31
-0.65
2016-09-30
-0.50
2016-06-30
-1.66
2016-03-31
-1.75
2015-12-31
-1.54
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
Unable to establish if Bridgepoint Education will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
We assess
Bridgepoint Education's future performance by looking at:
Is the annual earnings growth rate expected to beat the low risk savings rate, plus a
premium to keep pace with inflation?
Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
Is the annual earnings growth rate expected to be above 20%? (1 check)
Is the annual revenue growth rate expected to be above 20%? (1 check)
Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making
in the relevant year.
Bridgepoint Education
has a total score of
1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Below we compare
Bridgepoint Education's growth in the last year to its industry (Consumer Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it
has maintained that growth in the year.
Bridgepoint Education's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
Bridgepoint Education's 1-year earnings growth exceeds its 5-year average (645.9% vs -21.9%)
Bridgepoint Education's earnings growth has exceeded the Europe Consumer Services industry average in the past year (645.9% vs -14.9%).
Earnings and Revenue History
Bridgepoint Education's
revenue
and
profit
over the past 5 years is shown below, any years where they have experienced a
loss will show up in red.
All data from Bridgepoint Education Company Filings, last reported 4 months ago, and in
Trailing twelve months (TTM)
annual period rather than quarterly.
DB:0BD Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions)
Revenue
Net Income *
G+A Expenses
R&D Expenses
2018-09-30
458.68
18.15
222.62
2018-06-30
463.19
13.88
222.09
2018-03-31
466.94
2.97
226.92
2017-12-31
478.40
10.54
222.77
2017-09-30
492.97
2.43
226.69
2017-06-30
510.19
-7.08
235.78
2017-03-31
523.58
-10.06
242.71
2016-12-31
527.09
-30.04
251.05
2016-09-30
538.95
-22.94
256.13
2016-06-30
543.13
-76.21
253.08
2016-03-31
552.21
-80.20
250.64
2015-12-31
561.73
-70.45
254.17
2015-09-30
577.60
-69.02
257.37
2015-06-30
599.49
0.02
268.60
2015-03-31
623.95
13.63
279.11
2014-12-31
638.71
9.67
292.49
2014-09-30
653.67
9.81
298.12
2014-06-30
673.79
17.73
305.44
2014-03-31
695.73
16.89
307.92
2013-12-31
751.45
45.88
310.59
2013-09-30
795.75
70.82
308.50
2013-06-30
858.89
86.79
342.43
2013-03-31
914.96
117.38
369.63
2012-12-31
943.41
121.15
408.71
2012-09-30
940.05
122.52
389.30
2012-06-30
936.90
136.15
379.08
2012-03-31
927.25
145.59
372.46
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
Bridgepoint Education has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
Bridgepoint Education used its assets more efficiently than the Europe Consumer Services industry average last year based on Return on Assets.
Bridgepoint Education has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
We assess
Bridgepoint Education's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
Consumer Services
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
Bridgepoint Education
has a total score of
4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).
The boxes below represent the relative size of what makes up
Bridgepoint Education's finances.
The net worth of a company is the difference between its assets and liabilities.
Net Worth
Bridgepoint Education is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
Bridgepoint Education's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of
Bridgepoint Education's finances. If any of them are yellow this
indicates they may be out of proportion and red means they relate to one of the
checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Low level of unsold assets.
Debt is covered by short term assets, assets are 24x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.
The graphic below shows equity (available funds) and debt, we ideally want to
see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and
whether the level has increased over the past 5 years.
We assess
Bridgepoint Education's financial health by checking for:
Are short term assets greater than short term liabilities? (1 check)
Are short term assets greater than long term liabilities? (1 check)
Has the debt to equity ratio increased in the past 5 years? (1 check)
Is the debt to equity ratio over 40%? (1 check)
Is the debt covered by operating cash flow? (1 check)
Are earnings greater than 5x the interest on debt (if company pays interest
at all)? (1 check)
Bridgepoint Education
has a total score of
3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
0%
Current annual income from
Bridgepoint Education
dividends.
If you bought
€2,000 of
Bridgepoint Education
shares you are expected to receive
€0
in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you
can get in a
savings account?
It is up there with the
best dividend paying companies?
Unable to evaluate Bridgepoint Education's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
Unable to evaluate Bridgepoint Education's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.
We also check to see if the dividend has increased in the past 10 years.
We assess
Bridgepoint Education's dividend by checking for:
Firstly is the company paying a notable dividend (greater than 0.9%) - if
not then the rest of the checks are ignored.
Is current dividend yield above the bottom 25% of dividend payers? (1 check)
Is current dividend yield above the top 25% of dividend payers? (1 check)
Have they paid a dividend for 10 years, and during this period has the
dividend been volatile (drop of more than 25%)? (1 check)
If they have paid a dividend for 10 years has it increased in this time? (1
check)
How sustainable is the dividend, can
Bridgepoint Education
afford to pay it from its earnings today and in 3 years (Payout ratio less than
90%)? (2 checks)
Bridgepoint Education
has a total score of
0/6, see the detailed checks below.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
CEO
AndrewClark
COMPENSATION
$2,829,261
AGE
53
TENURE AS CEO
15.3 years
CEO Bio
Mr. Andrew S. Clark Co-founded Bridgepoint Education, Inc. in November 2003 and has been Chief Executive Officer since November 2003 and President since February 2009. Mr. Clark served and consulted with several equity firms examining the post-secondary sector. He served as the Chief Operating Officer of American Intercontinental University. From 1992 to 2001, he served in various management roles for the University of Phoenix, culminating in his position as Regional Vice President for the Mid-West region from 1999 to 2001. He has been a Director of Bridgepoint Education, Inc. since November 2003. Mr. Clark served on the Board of Trustees of University of the Rockies from September 2007 to August 2010. From March 2005 to December 2008, he served on the Board of Trustees of Ashford University. Prior to 2003, he worked for Career Education Corporation as Divisional Vice President of Operations and Chief Operating Officer for American InterContinental University since 2002. From 1992 to 2001, he worked for Apollo Group, Inc. (University of Phoenix), where he served in various management roles, culminating in his position as Regional Vice President for the Mid-West region from 1999 to 2001. Mr. Clark holds an M.B.A. from the University of Phoenix and a B.A./BS from the Pacific Lutheran University.
CEO Compensation
Andrew's compensation has been consistent with company performance over the past year.
Andrew's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure
Average tenure and age of the
Bridgepoint Education
management team in years:
2.3
Average Tenure
53
Average Age
The tenure for the Bridgepoint Education management team is about average.
Bridgepoint Education, Inc., together with its subsidiaries, provides postsecondary education services in the United States. Its academic institutions, Ashford University and University of the Rockies, offer associate's, bachelor's, master's, and doctoral degree programs in the disciplines of business, education, psychology, social sciences, and health sciences. The company offers its programs primarily through online; and at its campuses. As of December 31, 2017, its institutions offered approximately 1,200 courses and 80 degree programs; and had 45,730 students enrolled. The company was formerly known as TeleUniversity, Inc. and changed its name to Bridgepoint Education, Inc. in February 2004. Bridgepoint Education, Inc. was founded in 1999 and is headquartered in San Diego, California.
Bridgepoint Education, Inc.
8620 Spectrum Center Boulevard,
San Diego,
California, 92123,
United States
Listings
Exchange Symbol
Ticker Symbol
Security
Exchange
Country
Currency
Listed on
NYSE
BPI
Common Shares
New York Stock Exchange
US
USD
15. Apr 2009
DB
0BD
Common Shares
Deutsche Boerse AG
DE
EUR
15. Apr 2009
Number of employees
Current staff
4,000
Bridgepoint Education
employees.
Industry
Education Services
Consumer Services
Company Analysis and Financial Data Status
Area
Date (UTC time)
Company Analysis updated:
2019/02/18 22:13
End of day share price update:
2019/02/18 00:00
Last estimates confirmation:
2019/01/08
Last earnings filing:
2018/11/08
Last earnings reported:
2018/09/30
Last annual earnings reported:
2017/12/31
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.