LINCOLN EDUCATIONAL SERVICES CORP

Listed Company

LINCCIK 0001286613NasdaqAcceleratedServices-Educational ServicesNew JerseyFY ends Dec 31

Period

FY 2025

Revenue

$518.24M

Net Income

$20.00M

Total Assets

$493.16M

Equity

$199.69M

Shares Out

31.72M

Op. Cash Flow

$59.31M

LINC$42.94+86.70% · past yearDBEQ Basic

Daily closing prices

Business

Lincoln Educational Services Corporation operates career-focused postsecondary education campuses under the brands Lincoln Technical Institute, Lincoln College of Technology, and Nashville Auto Diesel College. The company offers diploma, certificate, and associate degree programs in skilled trades, automotive, health sciences, and information technology to recent high school graduates and working adults. Lincoln serves primarily local and regional markets, with some destination schools attracting national enrollment, and depends substantially on federal Title IV student financial aid for revenue.

Summary from 10-K filed 2026-03-02

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUE	518	440	378	348	335
Educational services and facilities	205	182	162	149	139
Selling, general and administrative	283	244	209	182	169
Gain on insurance proceeds	0	−3	0	0	—
(Gain) loss on sale of assets	−406,000	2	−31	−177,000	−22
Impairment of goodwill and long-lived assets	0	0	4	1	—
Total costs & expenses	488	425	345	332	286
OPERATING INCOME	30	15	33	16	49
Interest income	126,000	2	3	318,000	0
Interest expense	−3	−3	−347,000	−160,000	−2
Pension excise tax	−926,000	0	0	—	—
INCOME BEFORE INCOME TAXES	26	15	36	16	47
PROVISION FOR INCOME TAXES	6	5	10	4	13
NET INCOME	20	10	26	13	35
Employee pension plan adjustments, net of taxes	−274,000	310,000	924,000	—	—
COMPREHENSIVE INCOME	20	10	27	—	—
Net income per common share (in Dollars per share)	0.65	0.32	0.86	0.36	1.04
Net income per common share (in Dollars per share)	0.64	0.32	0.85	0.36	1.04
Basic (in Shares)	30,942	30,580	30,105	26	25
Diluted (in Shares)	31,260	30,891	30,541	26	25

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	29	59	76	46	83
Accounts receivable, less allowance of $43,975 and $42,615 at December 31, 2025 and December 31, 2024, respectively	37	43	36	37	26
Inventories	4	3	3	3	3
Income tax receivable	2	0	—	—	—
Tenant allowance receivable	8	762,000	—	—	—
Prepaid and other assets	8	4	6	5	5
Assets held for sale	0	1	10	5	5
Total current assets	87	111	135	114	122
PROPERTY, EQUIPMENT AND FACILITIES - At cost, net of accumulated depreciation and amortization of $148,067 and $141,271 at December 31, 2025 and December 31, 2024, respectively	172	104	51	24	23
Noncurrent receivables, less allowance of $26,371 and $22,957 at December 31, 2025 and December 31, 2024, respectively	21	20	18	23	20
Deferred finance charges	302,000	323,000	0	—	—
Deferred income taxes, net	22	25	23	22	24
Operating lease right-of-use assets	154	136	90	93	91
Finance lease right-of-use assets	25	27	16	0	—
Goodwill	11	11	11	15	15
Pension plan assets, net	0	2	759,000	0	—
Other assets, net	1	1	2	812,000	794,000
Total other assets	235	222	160	153	151
TOTAL ASSETS	493	437	345	292	295
Unearned tuition	44	31	27	24	25
Accounts payable	27	37	18	10	12
Accrued expenses	18	12	14	9	16
Income taxes payable	0	1	3	2	1
Current portion of operating lease liabilities	11	9	12	10	11
Current portion of finance lease liabilities	463,000	0	70,000	0	—
Total current liabilities	101	90	73	55	66
Long-term portion of operating lease liabilities	162	139	89	91	86
Long-term portion of finance lease liabilities	31	29	16	0	—
Other long-term liabilities	0	16,000	56,000	0	0
Total liabilities	293	258	178	147	154
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Common stock, no par value - authorized 100,000,000 shares at December 31, 2025 and December 31, 2024, issued and outstanding 31,623,795 shares at December 31, 2025 and 31,462,640 shares at December 31, 2024	48	48	48	49	141
Additional paid-in capital	52	51	49	46	32
Retained earnings	99	79	69	51	40
Accumulated other comprehensive loss	0	274,000	−36,000	−960,000	−1
Total stockholders equity	200	178	167	145	129
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	493	437	345	292	295

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	19	11	7	6	7
Finance lease amortization	2	2	175,000	0	—
Amortization of deferred finance charges	142,000	133,000	0	0	136,000
Deferred income taxes	3	−2	2	1	—
(Gain) loss on sale of assets	−406,000	2	−31	−177,000	−22
Proceeds from insurance	0	3	0	0	—
Fixed asset donations	−311,000	−277,000	−239,000	−408,000	−2
Provision for credit losses	58	57	42	35	27
Stock-based compensation expense	5	5	6	3	3
Accounts receivable	−54	−66	−46	−49	−26
Inventories	−933,000	−184,000	−330,000	103,000	−327,000
Prepaid income taxes	−2	0	—	—	—
Prepaid expenses and current assets	−10	−687,000	900,000	−11,000	−1
Other assets, net	7	110,000	1	450,000	−487,000
Accounts payable	−9	12	5	−2	−4
Accrued expenses	6	−2	5	−7	−1
Unearned tuition	14	4	3	−1	2
Income taxes payable	−1	−2	777,000	1	526,000
Other liabilities	3	338,000	1	−541,000	−2
Total adjustments	39	19	−439,000	−12	−7
Net cash provided by operating activities	59	29	26	882,000	27
Capital expenditures	−87	−57	−41	−9	−8
Proceeds from sale of property and equipment	434,000	10	39	0	—
Net cash used in investing activities	−86	−47	7	−21	38
Proceeds from borrowings	45	0	—	—	0
Payments on borrowings	−45	0	—	0	−18
Payment of deferred finance fees	−121,000	−456,000	0	0	—
Finance lease principal paid	−356,000	−267,000	0	0	—
Tenant allowance finance leases	399,000	762,000	0	0	—
Net share settlement for equity-based compensation	−4	−3	−2	−2	−962,000
Net cash used in financing activities	−4	−3	−3	−13	−20
NET DECREASE IN CASH AND CASH EQUIVALENTS	−31	−21	30	−33	45
Interest	3	2	110,000	171,000	2
Income taxes	6	9	7	—	—
Liabilities accrued for or noncash additions of fixed assets	7	8	4	1	3

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is LINCOLN EDUCATIONAL SERVICES CORP's CIK number?

LINCOLN EDUCATIONAL SERVICES CORP's SEC CIK number is 0001286613 (1286613). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find LINCOLN EDUCATIONAL SERVICES CORP's SEC filings?

All of LINCOLN EDUCATIONAL SERVICES CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did LINCOLN EDUCATIONAL SERVICES CORP last report earnings?

LINCOLN EDUCATIONAL SERVICES CORP (LINC) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001140361-26-020531). This is LINCOLN EDUCATIONAL SERVICES CORP's most recent earnings filing of record — not a forecast of its next earnings date.

What is LINCOLN EDUCATIONAL SERVICES CORP's most recent earnings 8-K?

LINCOLN EDUCATIONAL SERVICES CORP's latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001140361-26-020531. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View LINCOLN EDUCATIONAL SERVICES CORP's latest earnings 8-K →
Look up any company's CIK number →