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American Public Education

Nasdaq:APEI
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
APEI
Nasdaq
$567M
Market Cap
  1. Home
  2. US
  3. Consumer Services
Company description

American Public Education, Inc., together with its subsidiaries, provides online and campus-based postsecondary education. The last earnings update was 36 days ago. More info.


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APEI Share Price and Events
7 Day Returns
2.1%
NasdaqGS:APEI
-0.1%
US Consumer Services
0.4%
US Market
1 Year Returns
-20.6%
NasdaqGS:APEI
2.3%
US Consumer Services
6.8%
US Market
APEI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
American Public Education (APEI) 2.1% 5.3% 12.5% -20.6% 60.1% -2.4%
US Consumer Services -0.1% 5.1% 17.6% 2.3% 103.8% 127%
US Market 0.4% 2.6% 11% 6.8% 38.1% 45.7%
1 Year Return vs Industry and Market
  • APEI underperformed the Consumer Services industry which returned 2.3% over the past year.
  • APEI underperformed the Market in United States of America which returned 6.8% over the past year.
Price Volatility
APEI
Industry
5yr Volatility vs Market

APEI Value

 Is American Public Education undervalued based on future cash flows and its price relative to the stock market?

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
Here we compare the current share price of American Public Education to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for American Public Education.

NasdaqGS:APEI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:APEI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Consumer Services Unlevered Beta Simply Wall St/ S&P Global 0.98
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.977 (1 + (1- 21%) (0%))
0.985
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.985 * 5.96%)
8.6%

Discounted Cash Flow Calculation for NasdaqGS:APEI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for American Public Education is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:APEI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.6%)
2019 41.20 Analyst x2 37.94
2020 45.70 Analyst x2 38.75
2021 49.38 Est @ 8.05% 38.55
2022 52.57 Est @ 6.46% 37.79
2023 55.38 Est @ 5.34% 36.66
2024 57.90 Est @ 4.56% 35.29
2025 60.22 Est @ 4.01% 33.80
2026 62.40 Est @ 3.62% 32.25
2027 64.50 Est @ 3.36% 30.69
2028 66.54 Est @ 3.17% 29.16
Present value of next 10 years cash flows $350.89
NasdaqGS:APEI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $66.54 × (1 + 2.73%) ÷ (8.6% – 2.73%)
$1,164.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,164.51 ÷ (1 + 8.6%)10
$510.32
NasdaqGS:APEI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $350.89 + $510.32
$861.21
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $861.21 / 16.59
$51.92
NasdaqGS:APEI Discount to Share Price
Calculation Result
Value per share (USD) From above. $51.92
Current discount Discount to share price of $34.17
= -1 x ($34.17 - $51.92) / $51.92
34.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price American Public Education is available for.
Intrinsic value
34%
Share price is $34.17 vs Future cash flow value of $51.92
Current Discount Checks
For American Public Education to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • American Public Education's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • American Public Education's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 American Public Education's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are American Public Education's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:APEI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.56
NasdaqGS:APEI Share Price ** NasdaqGS (2019-04-16) in USD $34.17
United States of America Consumer Services Industry PE Ratio Median Figure of 25 Publicly-Listed Consumer Services Companies 28.6x
United States of America Market PE Ratio Median Figure of 3,072 Publicly-Listed Companies 18.08x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of American Public Education.

NasdaqGS:APEI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:APEI Share Price ÷ EPS (both in USD)

= 34.17 ÷ 1.56

21.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Public Education is good value based on earnings compared to the US Consumer Services industry average.
  • American Public Education is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does American Public Education's expected growth come at a high price?
Raw Data
NasdaqGS:APEI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
8.9%per year
United States of America Consumer Services Industry PEG Ratio Median Figure of 18 Publicly-Listed Consumer Services Companies 1.54x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NasdaqGS:APEI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.86x ÷ 8.9%

2.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Public Education is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on American Public Education's assets?
Raw Data
NasdaqGS:APEI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $19.56
NasdaqGS:APEI Share Price * NasdaqGS (2019-04-16) in USD $34.17
United States of America Consumer Services Industry PB Ratio Median Figure of 48 Publicly-Listed Consumer Services Companies 2.66x
United States of America Market PB Ratio Median Figure of 5,176 Publicly-Listed Companies 1.91x
NasdaqGS:APEI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:APEI Share Price ÷ Book Value per Share (both in USD)

= 34.17 ÷ 19.56

1.75x

* Primary Listing of American Public Education.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Public Education is good value based on assets compared to the US Consumer Services industry average.
X
Value checks
We assess American Public Education's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Services industry average (and greater than 0)? (1 check)
  5. American Public Education has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

APEI Future Performance

 How is American Public Education expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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!
Annual Growth Rate
8.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is American Public Education expected to grow at an attractive rate?
  • American Public Education's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • American Public Education's earnings growth is positive but not above the United States of America market average.
  • American Public Education's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:APEI Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:APEI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 8.9%
NasdaqGS:APEI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 1.7%
United States of America Consumer Services Industry Earnings Growth Rate Market Cap Weighted Average 33.6%
United States of America Consumer Services Industry Revenue Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:APEI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:APEI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 325 34 1
2020-12-31 302 57 30 5
2019-12-31 295 53 27 5
NasdaqGS:APEI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 298 44 26
2018-09-30 299 44 25
2018-06-30 299 51 24
2018-03-31 299 53 21
2017-12-31 299 48 21
2017-09-30 300 43 20
2017-06-30 300 43 16
2017-03-31 305 41 18
2016-12-31 313 56 24
2016-09-30 320 57 27
2016-06-30 323 63 33
2016-03-31 326 70 34

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • American Public Education's earnings are expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
  • American Public Education's revenue is expected to grow by 1.7% 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.
Raw Data
NasdaqGS:APEI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from American Public Education Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:APEI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.99 1.99 1.99 1.00
2020-12-31 1.79 1.81 1.76 5.00
2019-12-31 1.62 1.65 1.59 5.00
NasdaqGS:APEI Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.56
2018-09-30 1.53
2018-06-30 1.46
2018-03-31 1.30
2017-12-31 1.30
2017-09-30 1.21
2017-06-30 0.96
2017-03-31 1.14
2016-12-31 1.50
2016-09-30 1.68
2016-06-30 2.07
2016-03-31 2.07

*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.
  • American Public Education is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess American Public Education's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. 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.
American Public 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.

Full details on the Future part of the Simply Wall St company analysis model.

APEI Past Performance

  How has American Public Education performed over the past 5 years?

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 American Public 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.
  • American Public Education's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • American Public Education's 1-year earnings growth exceeds its 5-year average (21.4% vs -16%)
  • American Public Education's earnings growth has exceeded the US Consumer Services industry average in the past year (21.4% vs -1.2%).
Earnings and Revenue History
American Public 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.
Raw Data

All data from American Public Education Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:APEI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 297.69 25.64 134.31
2018-09-30 298.84 24.96 130.76
2018-06-30 299.13 23.83 131.60
2018-03-31 298.53 21.20 131.37
2017-12-31 299.25 21.12 130.09
2017-09-30 299.79 19.60 130.70
2017-06-30 300.31 15.56 129.09
2017-03-31 304.86 18.32 130.34
2016-12-31 313.14 24.16 130.29
2016-09-30 320.43 27.05 131.01
2016-06-30 322.91 33.48 132.41
2016-03-31 326.43 33.96 134.81
2015-12-31 327.91 32.41 137.79
2015-09-30 333.30 34.42 141.15
2015-06-30 341.71 36.51 144.87
2015-03-31 346.91 39.23 146.05
2014-12-31 350.02 40.88 146.40
2014-09-30 341.66 38.08 143.22
2014-06-30 338.73 40.15 140.59
2014-03-31 334.19 41.09 138.32
2013-12-31 329.48 42.03 136.07
2013-09-30 332.54 46.21 131.89
2013-06-30 327.89 46.13 129.54
2013-03-31 321.53 44.62 126.95
2012-12-31 313.52 42.32 123.38
2012-09-30 303.18 42.13 118.64
2012-06-30 291.31 42.25 112.10

*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.
  • American Public Education has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • American Public Education used its assets more efficiently than the US Consumer Services industry average last year based on Return on Assets.
  • American Public Education's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess American Public Education's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. 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.
American Public Education has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

APEI Health

 How is American Public Education's financial health and their level of debt?

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 American Public Education's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • American Public Education is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • American Public Education's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of American Public 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.
  • High level of physical assets or inventory.
  • American Public Education has no debt, it does not need to be covered by short term assets.
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.
Raw Data

All data from American Public Education Company Filings, last reported 3 months ago.

NasdaqGS:APEI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 321.27 0.00 210.43
2018-09-30 310.05 0.00 197.60
2018-06-30 303.11 0.00 193.60
2018-03-31 293.78 0.00 186.17
2017-12-31 289.41 0.00 176.91
2017-09-30 280.02 0.00 166.26
2017-06-30 274.34 0.00 157.13
2017-03-31 269.12 0.00 147.80
2016-12-31 264.67 0.00 146.35
2016-09-30 256.78 0.00 137.69
2016-06-30 255.07 0.00 124.09
2016-03-31 247.38 0.00 119.99
2015-12-31 237.15 0.00 105.73
2015-09-30 237.57 0.00 113.83
2015-06-30 232.34 0.00 103.72
2015-03-31 239.47 0.00 112.34
2014-12-31 234.22 0.00 115.63
2014-09-30 224.89 0.00 108.64
2014-06-30 214.72 0.00 89.80
2014-03-31 216.32 0.00 99.68
2013-12-31 207.07 0.00 94.82
2013-09-30 201.24 0.00 143.78
2013-06-30 188.97 0.00 128.12
2013-03-31 178.65 0.00 120.55
2012-12-31 171.15 0.00 114.90
2012-09-30 155.63 0.00 101.56
2012-06-30 148.38 0.00 116.71
  • American Public Education has no debt.
  • American Public Education has not taken on any debt in the past 5 years.
  • American Public Education has no debt, it does not need to be covered by operating cash flow.
  • American Public Education has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess American Public Education's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. American Public Education has a total score of 6/6, 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:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

APEI Dividends

 What is American Public Education's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from American Public Education dividends.
If you bought $2,000 of American Public 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 American Public Education's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate American Public 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.
Raw Data
NasdaqGS:APEI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Consumer Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:APEI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as American Public Education has not reported any payouts.
  • Unable to verify if American Public Education's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of American Public Education's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as American Public Education has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess American Public Education's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can American Public Education afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. American Public Education has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

APEI Management

 What is the CEO of American Public Education's salary, the management and board of directors tenure and is there insider trading?

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
Wally Boston
COMPENSATION $3,255,285
AGE 64
TENURE AS CEO 14.8 years
CEO Bio

Dr. Wallace E. Boston, Jr., CPA, also known as Wally, Ed.D., has been Chief Executive Officer and President of American Public Education, Inc. and its subsidiary company, American Public University System Inc since June 2004. Dr. Boston served as the Chief Executive Officer and President at American Public University System, Inc since June 2004 until July 1, 2016 and served as its Chief Financial Officer from June 2004. Since October 2017, Dr. Boston has also served as Interim President of APUS. He served as the Chief Executive Officer of NeighborCare Pharmacy Services, Inc. He served as the Chief Financial Officer of American Public Education, Inc. since September 2002 until 2004. He served as Chief Financial Officer of Sun Healthcare Group Inc., from August 2001 to April 2002. He served as President of NeighborCare Pharmacies. He served as Chief Operating Officer at NeighborCare, Inc. from July 1998 to May 2001. He served as Vice President of Finance and Senior Vice President of Acquisitions and Development of Manor Healthcare Corporation, now Manor Care, Inc., from February 1993 to May 1998. Dr. Boston served as Chief Financial Officer of Meridian Healthcare. He served as Management Consultant at Price Waterhouse. Within the healthcare industry, he rose to management positions in finance, serving as Chief Financial Officer with four different companies. Dr. Boston has been serving in Executive positions with both Meridian Healthcare and Manor Care. Over the past 14 years, he has managed significant operational projects that have consistently yielded positive results. His initial position with NeighborCare was as its Chief Operating Officer with the task of merging Vitalink Pharmacy Services with NeighborCare. He has been a Director of Avalere Health LLC since April 2010 and American Public Education, Inc. since June 2004. Dr. Boston serves as a Trustee at American Public University System. He is a Member of the Board of Overseers at the University of Pennsylvania Graduate School of Education, Member of the Advisory Board of the National Institute for Learning Outcomes Assessment (NILOA), Member of the Board of Advisors of the Education Design Studio, Inc., Board member of the President’ Forum of Excelsior College, Member of the Arizona State University Education Innovation Advisory Board, a member of the West Virginia Governor's Advisory Council for Technology in Education, serves as a Board Member of the Education Alliance and is also a Board Member of New Horizons Worldwide, Fidelis, Inc., and Therapeutic Research Center. He is also a Board Member of the Gateway New Economy Council. He served as Treasurer of the Board of Trustees of McDonogh School. In addition to his service to the University, he is heavily engaged in the broader West Virginia community. In 2008, the Board of Trustees of APUS awarded him a Doctorate in Business Administration, honoris causa. He is a Certified Public Accountant, Certified Management Accountant and Fellow of the Healthcare Financial Management Association. He holds B.A. in History from Duke University and an M.B.A. in Marketing and Accounting from Tulane University.

CEO Compensation
  • Wally's compensation has increased by more than 20% in the past year.
  • Wally's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the American Public Education management team in years:

3.3
Average Tenure
54
Average Age
  • The tenure for the American Public Education management team is about average.
Management Team

Wally Boston

TITLE
President
COMPENSATION
$3M
AGE
64
TENURE
14.8 yrs

Rick Sunderland

TITLE
Executive VP & CFO
COMPENSATION
$1M
AGE
58
TENURE
5.3 yrs

Patrik Dyberg

TITLE
Executive VP & CTO
COMPENSATION
$1M
AGE
54
TENURE
0.9 yrs

Tom Beckett

TITLE
Senior VP
COMPENSATION
$630K
AGE
50
TENURE
3.3 yrs

Amy Panzarella

TITLE
Senior Vice President of Human Resources & Community Affairs
COMPENSATION
$427K
AGE
43

Chris Symanoskie

TITLE
Vice President of Investor Relations & Corporate Communications
AGE
46
TENURE
12.3 yrs

Beth Cooper

TITLE
Senior VP & Chief Marketing Officer

Pete Gibbons

TITLE
Senior Vice President of Special Projects
COMPENSATION
$286K
AGE
65
TENURE
2.8 yrs

Gwendolyn Hall

TITLE
Senior VP & Chief of Staff

Amy Bevilacqua

TITLE
Chief Innovation Officer & Senior VP
TENURE
2.9 yrs
Board of Directors Tenure

Average tenure and age of the American Public Education board of directors in years:

6.8
Average Tenure
59
Average Age
  • The tenure for the American Public Education board of directors is about average.
Board of Directors

Barbara Fast

TITLE
Chairperson of the Board
COMPENSATION
$199K
AGE
64
TENURE
3.8 yrs

Wally Boston

TITLE
President
COMPENSATION
$3M
AGE
64
TENURE
14.8 yrs

Jean Halle

TITLE
Independent Director
COMPENSATION
$150K
AGE
59
TENURE
13.1 yrs

Tim Landon

TITLE
Independent Director
COMPENSATION
$143K
AGE
55
TENURE
10.3 yrs

Ric Andersen

TITLE
Independent Director
COMPENSATION
$135K
AGE
56
TENURE
6.8 yrs

Bobbi Kurshan

TITLE
Independent Director
COMPENSATION
$135K
AGE
70
TENURE
4.7 yrs

Bill Robinson

TITLE
Independent Director
COMPENSATION
$246K
AGE
53
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess American Public Education's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. American Public Education has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

APEI News

Simply Wall St News

How Do Analysts See American Public Education, Inc. (NASDAQ:APEI) Performing In The Next 12 Months?

analyst consensus outlook appear cautiously optimistic, … as a 6.0% increase in profits is expected in the upcoming year, … the past 5-year average growth rate of -16%

Simply Wall St -

How Does American Public Education, Inc.'s (NASDAQ:APEI) Earnings Growth Stack Up Against Industry Performance?

When American Public Education, Inc. … (NASDAQ:APEI) released its most recent earnings update (31 December 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Being able to interpret how well American Public Education has done so far requires weighing its performance against a benchmark, rather than looking at a standalone number at a point in time.

Simply Wall St -

American Public Education, Inc. (NASDAQ:APEI): Immense Growth Potential?

American Public Education, Inc.'s (NASDAQ:APEI) most recent earnings update in December 2018a

Simply Wall St -

Looking At American Public Education, Inc. (NASDAQ:APEI) From All Angles

In the case of American Public Education, Inc. … is a company that has been able to sustain great financial health, trading at an attractive share price. … report on American Public Education here

Simply Wall St -

Should You Be Worried About American Public Education, Inc.'s (NASDAQ:APEI) 8.1% Return On Equity?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of American Public Education, Inc. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.081 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does American Public Education, Inc.'s (NASDAQ:APEI) P/E Ratio Signal A Buying Opportunity?

To keep it practical, we'll show how American Public Education, Inc.'s (NASDAQ:APEI) P/E ratio could help you assess the value on offer. … Based on the last twelve months, American Public Education's P/E ratio is 19.57. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What Did American Public Education, Inc.'s (NASDAQ:APEI) CEO Take Home Last Year?

Wally Boston has been the CEO of American Public Education, Inc. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Wally Boston's Compensation Compare With Similar Sized Companies?

Simply Wall St -

American Public Education, Inc. (NASDAQ:APEI) Might Not Be A Great Investment

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Did American Public Education, Inc.'s (NASDAQ:APEI) Recent Earnings Growth Beat The Trend?

When American Public Education, Inc. … (NASDAQ:APEI) released its most recent earnings update (30 September 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Being able to interpret how well American Public Education has done so far requires weighing its performance against a benchmark, rather than looking at a standalone number at a point in time.

Simply Wall St -

Read This Before Buying American Public Education Inc (NASDAQ:APEI) Shares

So shareholders might well want to know whether insiders have been buying or selling shares in American Public Education Inc (NASDAQ:APEI). … The Last 12 Months Of Insider Transactions At American Public Education. … Over the last year we saw more insider selling of American Public Education shares, than buying

Simply Wall St -

APEI Company Info

Description

American Public Education, Inc., together with its subsidiaries, provides online and campus-based postsecondary education. The company operates in two segments, American Public Education and Hondros College of Nursing. It offers 110 degree programs and 109 certificate programs in various fields of study, including business administration, health science, technology, criminal justice, education, and liberal arts, as well as national security, military studies, intelligence, and homeland security. The company also provides diploma in practical nursing, an associate degree in nursing, an associate degree in medical laboratory technology; and an online registered nurse to Bachelor of Science in nursing program. American Public Education, Inc. was founded in 1991 and is headquartered in Charles Town, West Virginia.

Details
Name: American Public Education, Inc.
APEI
Exchange: NasdaqGS
Founded: 1991
$566,749,087
16,586,160
Website: http://www.apei.com
Address: American Public Education, Inc.
111 West Congress Street,
Charles Town,
West Virginia, 25414,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS APEI Common Stock Nasdaq Global Select US USD 09. Nov 2007
DB 51A Common Stock Deutsche Boerse AG DE EUR 09. Nov 2007
Number of employees
Current staff
Staff numbers
2,160
American Public Education employees.
Industry
Education Services
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 00:18
End of day share price update: 2019/04/16 00:00
Last estimates confirmation: 2019/03/20
Last earnings filing: 2019/03/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.