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Lincoln Educational Services Corporation - (LINC) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

NASDAQ · DATA UPDATED 2026-09-19

Lincoln Educational Services Corporation - (LINC) operates in the NASDAQ industry and is headquartered in Parsippany, United States with about 2,190 employees. Its market capitalization is roughly $787 million. In the fiscal year ended 2025-12-31, LINC reported $518M in revenue and $20M in net income.

Lincoln Educational Services Corporation, together with its subsidiaries, provides various career-oriented postsecondary education services to high school graduates and working adults in the United States. It operates in two segments, Campus Operations and Transitional.

Interactive charts & full statements → Open the LINC valuation workbench →

LINC Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$571M	$518M	$440M	$378M	$348M	$335M	$293M	$273M	$263M	$262M	$197M	$193M	$325M	$345M	$403M	$513M	$639M	$553M	$377M	$328M	$322M
Gross Profit	$342M	$313M	$258M	$216M	$200M	$196M	$171M	$150M	$138M	$132M	$102M	$101M	$161M	$172M	$210M	$290M	$400M	$341M	$223M	$188M	$185M
Gross Margin %	59.8%	60.4%	58.7%	57.1%	57.3%	58.6%	58.3%	54.8%	52.4%	50.6%	51.8%	52.3%	49.4%	50.0%	52.3%	56.5%	62.5%	61.8%	59.3%	57.4%	57.5%
Operating Income (EBIT)	$34M	$30M	$15M	$33M	$16M	$49M	$15M	$5M	($4M)	($5M)	($5M)	$1M	($49M)	($10M)	($28M)	$35M	$123M	$88M	$36M	$26M	$28M
Operating Margin %	5.9%	5.8%	3.5%	8.8%	4.7%	14.7%	5.0%	1.9%	-1.5%	-1.8%	-2.6%	0.4%	-14.9%	-2.8%	-6.9%	6.8%	19.2%	16.0%	9.4%	7.9%	8.7%
Net Income	$23M	$20M	$10M	$26M	$13M	$35M	$49M	$2M	($7M)	($11M)	($28M)	($3M)	($56M)	($51M)	($37M)	$18M	$70M	$49M	$20M	$8M	$16M
Net Margin %	4.0%	3.9%	2.2%	6.9%	3.6%	10.3%	16.6%	0.7%	-2.5%	-4.4%	-14.4%	-1.7%	-17.3%	-14.9%	-9.2%	3.4%	10.9%	8.9%	5.4%	2.5%	4.8%
EBITDA	$61M	$50M	$29M	$43M	$23M	$7M	$22M	$13M	$4M	$4M	($11M)	$19M	$18M	$20M	$14M	$63M	$149M	$113M	$54M	$26M	$46M
Earnings Per Share (EPS)	$0.73	$0.64	$0.32	$0.85	$0.49	$1.38	$1.96	$0.08	$-0.27	$-0.48	$-1.21	$-0.14	$-2.46	$-2.28	$-1.68	$0.79	$2.79	$1.82	$0.78	$0.32	$0.60
Shares Outstanding (M)	31M	31M	31M	31M	26M	25M	25M	25M	24M	24M	23M	23M	23M	23M	22M	22M	25M	27M	26M	26M	26M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LINC Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$143M	$144M	$143M	$141M	$116M	$118M	$119M	$114M
Gross Profit	$83M	$86M	$89M	$84M	$70M	$70M	$74M	$66M
Gross Margin %	58.2%	59.4%	62.3%	59.5%	59.8%	59.7%	62.2%	58.0%
Operating Income (EBIT)	$3M	$6M	$18M	$6M	$3M	$3M	$11M	$6M
Operating Margin %	2.3%	4.5%	12.5%	4.5%	2.2%	2.7%	9.2%	5.1%
Net Income	$2M	$4M	$13M	$4M	$2M	$2M	$7M	$4M
Net Margin %	1.4%	3.0%	8.9%	2.7%	1.3%	1.7%	5.7%	3.5%
EBITDA	$11M	$14M	$24M	$12M	$8M	$7M	$14M	$10M
Earnings Per Share (EPS)	$0.06	$0.14	$0.41	$0.12	$0.05	$0.06	$0.22	$0.13
Shares Outstanding (M)	31M	31M	31M	31M	31M	31M	31M	31M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LINC Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$94M	$59M	$29M	$26M	$1M	$27M	$23M	$1M	($2M)	($11M)	($6M)	$14M	$12M	$3M	$16M	$37M	$114M	$73M	$54M	$16M	$15M
Capital Expenditures (CapEx)	$69M	$87M	$57M	$41M	$9M	$8M	$6M	$5M	$5M	$5M	$4M	$2M	$7M	$7M	$9M	$38M	$42M	$24M	$20M	$25M	$19M
Free Cash Flow (FCF)	$25M	($27M)	($28M)	($15M)	($8M)	$20M	$18M	($4M)	($6M)	($16M)	($10M)	$12M	$5M	($3M)	$7M	($1M)	$72M	$49M	$34M	($9M)	($4M)
FCF Margin %	4.3%	-5.3%	-6.3%	-4.0%	-2.3%	5.9%	6.1%	-1.6%	-2.4%	-6.1%	-4.9%	6.3%	1.4%	-0.9%	1.8%	-0.2%	11.3%	8.9%	9.0%	-2.8%	-1.3%
Dividends Paid	—	—	$0M	$0M	$1M	$1M	$1M	$1M	$1M	$1M	$0M	$0M	$4M	$7M	$6M	$18M	$6M	$66M	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LINC Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$22M	$5M	$44M	$24M	$0M	($8M)	$30M	$6M
Capital Expenditures (CapEx)	$14M	$15M	$19M	$22M	$26M	$20M	$25M	$19M
Free Cash Flow (FCF)	$8M	($10M)	$25M	$2M	($26M)	($28M)	$6M	($14M)
FCF Margin %	5.3%	-7.0%	17.5%	1.4%	-22.4%	-24.1%	4.6%	-12.0%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LINC Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$530M	$493M	$437M	$345M	$292M	$295M	$245M	$195M	$146M	$155M	$163M	$210M	$214M	$306M	$347M	$362M	$413M	$388M	$268M	$246M	$226M
Cash & Cash Equivalents	$44M	$29M	$59M	$76M	$46M	$83M	$38M	$24M	$18M	$15M	$21M	$38M	$42M	$67M	$62M	$27M	$66M	$46M	$15M	$4M	$6M
Total Liabilities	$327M	$293M	$258M	$178M	$147M	$154M	$142M	$140M	$106M	$109M	$91M	$129M	$131M	$161M	$148M	$123M	$190M	$170M	$93M	$84M	$74M
Total Debt (Short + Long-Term)	$38M	$11M	$9M	$12M	$10M	$11M	$26M	$43M	$49M	$64M	$42M	$42M	$65M	$90M	$74M	$37M	$57M	$57M	$10M	$15M	$10M
Total Shareholders' Equity	$202M	$200M	$178M	$167M	$145M	$141M	$103M	$55M	$40M	$46M	$72M	$81M	$83M	$145M	$198M	$239M	$222M	$219M	$175M	$162M	$152M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive LINC viewer.

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