20-quarter listed-company comparison

Education & Training Services Stocks

Education & Training Services: New Oriental Education & Technology Group Inc. owns the largest revenue base; TAL Education Group has the fastest current growth.

The industry itself · before any single company

How has Education & Training Services moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 2% behind S&P 500. Earnings across its companies grew 16% on average over the last four reported quarters. It has been ahead of S&P 500 on a rolling three-month view for 5 weeks running.

FADING · −1 in 4w~Moving with the index4 of 21 companies ahead of S&P 500 by 5% or more over three months

RS ↑5w · 10/21 >200d (−4) · 4/21 lead (−1) · EPS 11/20↑

Education & Training Services, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy NarrowHow much of the industry is participating, how recently, and whether the movers score well.

Together4 of 21 stocks moving

Fresh1 crossed in the last 4 weeks

Backed by scoresmovers score −2 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 1/5+1

Mid 1/7−1

Small 2/9−1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 21 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Education & Training Services outperforming S&P 500?

Education & Training Services has underperformed S&P 500 by 0.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 9.3%. 7 of 18 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Lincoln Educational Services Corporation is the strongest against the sector itself at +16.7%.

+9.3%Sector vs S&P 500 · 13 weeks

-0.8%Sector vs S&P 500 · 52 weeks

7/18Stocks leading S&P 500

4/18Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Education & Training Services has underperformed S&P 500 by 0.8% over 52 weeks and 9.3% over 13 weeks. 7 of 18 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 18 beat the sector itself. TAL Education Group has the fastest current revenue growth at 33.8%, across 17 of 20 comparable companies.

Is the Education & Training Services sector outperforming S&P 500?

Which Education & Training Services company is largest by revenue?

New Oriental Education & Technology Group Inc. leads with revenue of $5,374 million, based on 17 of 20 comparable companies through Mar 2026.

Which Education & Training Services company is growing fastest?

TAL Education Group has the fastest current revenue growth at 33.8%, across 17 of 20 comparable companies.

Which Education & Training Services company has the strongest 4-Factor Sector Score?

Lincoln Educational Services Corporation ranks first at 59.7/100 with 76% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Education & Training Services company reports the most CAPEX?

New Oriental Education & Technology Group Inc. reports the largest latest CAPEX at $95 million, with 18 of 20 companies comparable.

Which Education & Training Services company has the least gross debt?

Coursera, Inc. has the lowest comparable gross debt at $0 million. McGraw Hill, Inc. has the highest at $2,640 million.

Which Education & Training Services company has the lowest comparable PEG?

Graham Holdings Company has the lowest comparable Guarded PEG at 0.29, among 12 of 20 companies that pass the metric’s comparability rules.

How much history does this Education & Training Services comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$51.0B

New Oriental Education & Technology Group Inc.

Revenue growing

15/17

positive TTM year-on-year growth

Beating S&P 500

7/18

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Lincoln Educational Services Corporation has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 76% evidence confidence.

Laureate Education, Inc. looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Laureate Education, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Lincoln Educational Services Corporation · LINC

59.7/100 · Mixed-positive evidence · 76% evidence

Exact sum: 25.1 + 8 + 9.6 + 17 = 59.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

25.1/35Growth & earnings

Revenue 19.8% · PAT 91.7% · OPM change 1.6 pp

83% evidence

8.0/25Capital efficiency

ROCE 1.7% · debt/equity 1.04×

80% evidence

9.6/20Valuation

P/E 57.3× · PEG 1.28

65% evidence

17.0/20Relative strength

RS sector 16.7% · RS bench 23.9% · 1Y 82.6%

70% evidence

2. Perdoceo Education Corporation · PRDO

58.1/100 · Mixed-positive evidence · 82% evidence

Exact sum: 23.4 + 16.5 + 13.7 + 4.5 = 58.1

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -12.9% and the one-year return is 10.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

23.4/35Growth & earnings

Revenue 17.9% · PAT 12.6% · OPM change 4.2 pp

83% evidence

16.5/25Capital efficiency

ROCE 5.6% · debt/equity 0.12×

80% evidence

13.7/20Valuation

P/E 14.3× · PEG 0.92

65% evidence

4.5/20Relative strength

RS sector -12.9% · RS bench -7.5% · 1Y 10.6%

100% evidence

3. Franklin Covey Co. · FC

57.7/100 · Mixed-positive evidence · 72% evidence

Exact sum: 21 + 14.6 + 7.4 + 14.7 = 57.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.0/35Growth & earnings

Revenue -6.1% · PAT -81.8% · OPM change 9.5 pp

71% evidence

14.6/25Capital efficiency

ROCE 5.8% · debt/equity 0×

80% evidence

7.4/20Valuation

P/E 139.5× · PEG 1.77

65% evidence

14.7/20Relative strength

RS sector 1.7% · RS bench 7.9% · 1Y 18.2%

70% evidence

4. American Public Education, Inc. · APEI

56.6/100 · Mixed-positive evidence · 66% evidence

Exact sum: 22.9 + 11.3 + 9.3 + 13.1 = 56.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.9/35Growth & earnings

Revenue 3.8% · PAT 64% · OPM change 5 pp

83% evidence

11.3/25Capital efficiency

ROCE 4.6% · debt/equity 0.5×

80% evidence

9.3/20Valuation

P/E 30.1× · PEG —

15% evidence

13.1/20Relative strength

RS sector -0.5% · RS bench 5.9% · 1Y 70.2%

70% evidence

5. Laureate Education, Inc. · LAUR

51.9/100 · Mixed-positive evidence · 75% evidence

Exact sum: 15.5 + 6.6 + 14.6 + 15.2 = 51.9

Decision use: Price leads the evidence: RS versus the benchmark is 8.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

15.5/35Growth & earnings

Revenue 13.8% · PAT -2.1% · OPM change -4.5 pp

62% evidence

6.6/25Capital efficiency

ROCE -1.7% · debt/equity 0.69×

80% evidence

14.6/20Valuation

P/E 18.3× · PEG 0.38

65% evidence

15.2/20Relative strength

RS sector 1.5% · RS bench 8.3% · 1Y 64.6%

100% evidence

6. Legacy Education Inc. · LGCY

51.4/100 · Mixed-positive evidence · 76% evidence

Exact sum: 17.3 + 15.1 + 10.9 + 8.1 = 51.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.3/35Growth & earnings

Revenue 28.3% · PAT 14.3% · OPM change -1.2 pp

83% evidence

15.1/25Capital efficiency

ROCE 6.8% · debt/equity 0.32×

80% evidence

10.9/20Valuation

P/E 20.2× · PEG 1.26

65% evidence

8.1/20Relative strength

RS sector -9.1% · RS bench -3.4% · 1Y 9.4%

70% evidence

7. Stride, Inc. · LRN

51.0/100 · Mixed-positive evidence · 82% evidence

Exact sum: 14 + 15 + 13.3 + 8.7 = 51

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

14.0/35Growth & earnings

Revenue 11% · PAT 3% · OPM change -0.8 pp

83% evidence

15.0/25Capital efficiency

ROCE 6.3% · debt/equity 0.33×

80% evidence

13.3/20Valuation

P/E 13.6× · PEG 1.02

65% evidence

8.7/20Relative strength

RS sector -14.2% · RS bench -9.9% · 1Y -25.8%

100% evidence

8. Strategic Education, Inc. · STRA

50.2/100 · Mixed-positive evidence · 82% evidence

Exact sum: 15.4 + 13.4 + 14.5 + 6.9 = 50.2

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

15.4/35Growth & earnings

Revenue 3% · PAT 15% · OPM change 0.3 pp

83% evidence

13.4/25Capital efficiency

ROCE 0% · debt/equity 0.07×

80% evidence

14.5/20Valuation

P/E 14.7× · PEG 0.7

65% evidence

6.9/20Relative strength

RS sector -11.5% · RS bench -5.7% · 1Y 8.7%

100% evidence

9. TAL Education Group · TAL

49.2/100 · Mixed-negative evidence · 65% evidence

Exact sum: 24.1 + 11.7 + 11.3 + 2.1 = 49.2

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -16.9% and the one-year return is -1.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

24.1/35Growth & earnings

Revenue 33.8% · PAT 100% · OPM change 11.6 pp

62% evidence

11.7/25Capital efficiency

ROCE 1.8% · debt/equity 0.1×

80% evidence

11.3/20Valuation

P/E 11.5× · PEG —

15% evidence

2.1/20Relative strength

RS sector -16.9% · RS bench -11.3% · 1Y -1.9%

100% evidence

10. Graham Holdings Company · GHC

48.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 12.8 + 11 + 15.4 + 9.4 = 48.6

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

12.8/35Growth & earnings

Revenue 3.7% · PAT -51.4% · OPM change 0.6 pp

83% evidence

11.0/25Capital efficiency

ROCE 0.9% · debt/equity 0.26×

80% evidence

15.4/20Valuation

P/E 15.6× · PEG 0.29

65% evidence

9.4/20Relative strength

RS sector -4.1% · RS bench 2.2% · 1Y 31.8%

100% evidence

11. Grand Canyon Education, Inc. · LOPE

47.7/100 · Mixed-negative evidence · 76% evidence

Exact sum: 18.8 + 19.2 + 7.5 + 2.2 = 47.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.8/35Growth & earnings

Revenue 7.5% · PAT -4.3% · OPM change 0.5 pp

83% evidence

19.2/25Capital efficiency

ROCE 79.3% · debt/equity —

57% evidence

7.5/20Valuation

P/E 21.3× · PEG 1.92

65% evidence

2.2/20Relative strength

RS sector -23.8% · RS bench -19.1% · 1Y -11.6%

100% evidence

12. Universal Technical Institute, Inc. · UTI

46.5/100 · Mixed-negative evidence · 82% evidence

Exact sum: 9.5 + 8.7 + 13.3 + 15 = 46.5

Decision use: Price leads the evidence: RS versus the benchmark is 11.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

9.5/35Growth & earnings

Revenue 11.1% · PAT -24.6% · OPM change -7.9 pp

83% evidence

8.7/25Capital efficiency

ROCE 0.1% · debt/equity 0.93×

80% evidence

13.3/20Valuation

P/E 46.9× · PEG 0.53

65% evidence

15.0/20Relative strength

RS sector 5.5% · RS bench 11.9% · 1Y 21.9%

100% evidence

13. Covista Inc. · CVSA

46.1/100 · Mixed-negative evidence · 82% evidence

Exact sum: 16.6 + 13.2 + 5.7 + 10.6 = 46.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

16.6/35Growth & earnings

Revenue 9.7% · PAT 8.7% · OPM change -0.6 pp

83% evidence

13.2/25Capital efficiency

ROCE 4.1% · debt/equity 0.54×

80% evidence

5.7/20Valuation

P/E 18× · PEG 2.93

65% evidence

10.6/20Relative strength

RS sector -5.7% · RS bench -0.2% · 1Y 10%

100% evidence

14. Chegg, Inc. · CHGG

42.5/100 · Thin evidence · provisional · 59% evidence

Exact sum: 19.2 + 7.2 + 11.5 + 4.6 = 42.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

19.2/35Growth & earnings

Revenue -43.4% · PAT — · OPM change 22.3 pp

62% evidence

7.2/25Capital efficiency

ROCE -0.5% · debt/equity 0.39×

80% evidence

11.5/20Valuation

P/E 7.7× · PEG —

15% evidence

4.6/20Relative strength

RS sector -17.7% · RS bench -17.5% · 1Y -41.1%

70% evidence

15. New Oriental Education & Technology Group Inc. · EDU

41.1/100 · Mixed-negative evidence · 82% evidence

Exact sum: 20.1 + 13.3 + 4.6 + 3.1 = 41.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.1/35Growth & earnings

Revenue 12.1% · PAT 7.2% · OPM change 2.2 pp

83% evidence

13.3/25Capital efficiency

ROCE 3.8% · debt/equity 0.18×

80% evidence

4.6/20Valuation

P/E 20.6× · PEG 3.13

65% evidence

3.1/20Relative strength

RS sector -16.4% · RS bench -10.8% · 1Y 13.8%

100% evidence

16. KinderCare Learning Companies, Inc. · KLC

38.8/100 · Thin evidence · provisional · 56% evidence

Exact sum: 10.7 + 3.8 + 10 + 14.3 = 38.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

10.7/35Growth & earnings

Revenue — · PAT — · OPM change -50.3 pp

45% evidence

3.8/25Capital efficiency

ROCE -8.7% · debt/equity 5.37×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

14.3/20Relative strength

RS sector -3% · RS bench 2.4% · 1Y -44.3%

100% evidence

17. Coursera, Inc. · COUR

33.8/100 · Thin evidence · provisional · 56% evidence

Exact sum: 12.2 + 8.6 + 10 + 3 = 33.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

12.2/35Growth & earnings

Revenue 9.9% · PAT — · OPM change -4.9 pp

62% evidence

8.6/25Capital efficiency

ROCE -4% · debt/equity 0×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

3.0/20Relative strength

RS sector -31.6% · RS bench -27.6% · 1Y -51.9%

70% evidence

18. McGraw Hill, Inc. · MH

27.3/100 · Thin evidence · provisional · 59% evidence

Exact sum: 10.6 + 4.5 + 8.7 + 3.5 = 27.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

10.6/35Growth & earnings

Revenue 0.1% · PAT — · OPM change -7.3 pp

62% evidence

4.5/25Capital efficiency

ROCE -0.1% · debt/equity 3.64×

80% evidence

8.7/20Valuation

P/E 72.1× · PEG —

15% evidence

3.5/20Relative strength

RS sector -28.8% · RS bench -23.8% · 1Y -28.3%

70% evidence

19. Neucleus Group Limited · NEUC

54.3/100 · Thin evidence · provisional · 9% evidence

Exact sum: 17.5 + 16.8 + 10 + 10 = 54.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.5/35Growth & earnings

Revenue — · PAT — · OPM change —

0% evidence

16.8/25Capital efficiency

ROCE 156.9% · debt/equity —

34% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

20. Phoenix Education Partners, Inc. · PXED

51.9/100 · Thin evidence · provisional · 37% evidence

Exact sum: 13.5 + 17.5 + 10.9 + 10 = 51.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

13.5/35Growth & earnings

Revenue — · PAT — · OPM change -5.7 pp

39% evidence

17.5/25Capital efficiency

ROCE 24.6% · debt/equity 0.2×

80% evidence

10.9/20Valuation

P/E 14.1× · PEG —

15% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

New Oriental Education & Technology Group Inc. has the highest Revenue among the 20 Education & Training Services companies compared here, at $5,374 million. Graham Holdings Company is next at $4,982 million. TAL Education Group has the highest Revenue growth at 33.8%, so level and change sit with different companies.

What the numbers say: New Oriental Education & Technology Group Inc. is the scale leader at $5,374 million, 7.9% ahead of Graham Holdings Company. TAL Education Group's growth is 33.8% from a $3,008 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderNew Oriental Education & Technology Group Inc. · $5,374 million

Gap7.9% versus #2 · Graham Holdings Company

Persistence7/8 recent comparable periods

Coverage17/20 companies · 345 observations

Investor read: New Oriental Education & Technology Group Inc. is the scale benchmark; TAL Education Group is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: New Oriental Education & Technology Group Inc.'s growth falls below TAL Education Group's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1New Oriental Education & Technology Group Inc. EDU$5.4B

2Graham Holdings Company GHC$5.0B

3TAL Education Group TAL$3.0B

4Stride, Inc. LRN$2.5B

5McGraw Hill, Inc. MH$2.1B

Revenue growthfastest growers

1TAL Education Group TAL34%

2Legacy Education Inc. LGCY28%

3Lincoln Educational Services Corporation LINC20%

4Perdoceo Education Corporation PRDO18%

5Laureate Education, Inc. LAUR14%

Revenue · company comparison

17/20 level · 17/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
New Oriental Education & Technology Group Inc. EDU	$1.4B	20%	Mar 2026
Graham Holdings Company GHC	$1.2B	6.0%	Mar 2026
TAL Education Group TAL	$802M	31%	Mar 2026
KinderCare Learning Companies, Inc. KLC	$673M	-3.9%	Jun 2026
Stride, Inc. LRN	$630M	2.8%	Mar 2026
Covista Inc. CVSA	$487M	4.5%	Mar 2026
McGraw Hill, Inc. MH	$464M	-1.9%	Mar 2026
Grand Canyon Education, Inc. LOPE	$309M	6.9%	Mar 2026
Strategic Education, Inc. STRA	$306M	0.7%	Mar 2026
Laureate Education, Inc. LAUR	$273M	16%	Mar 2026
Perdoceo Education Corporation PRDO	$222M	4.2%	Mar 2026
Phoenix Education Partners, Inc. PXED	$222M	-0.5%	Jun 2026
Universal Technical Institute, Inc. UTI	$221M	6.8%	Mar 2026
Coursera, Inc. COUR	$196M	9.5%	Mar 2026
American Public Education, Inc. APEI	$175M	6.1%	Mar 2026
Lincoln Educational Services Corporation LINC	$144M	22%	Mar 2026
Franklin Covey Co. FC	$68M	1.5%	Jun 2026
Chegg, Inc. CHGG	$63M	-48%	Mar 2026
Legacy Education Inc. LGCY	$21M	11%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021$110M

Dec 2021$115M

Mar 2022$120M

Jun 2022$125M

Sep 2022$136M

Dec 2022$142M

Mar 2023$148M

Jun 2023$154M

Sep 2023$166M

Dec 2023$169M

Mar 2024$169M

Jun 2024$170M

Sep 2024$176M

Dec 2024$179M

Mar 2025$179M

Jun 2025$187M

Sep 2025$194M

Dec 2025$197M

Mar 2026$196M

Jun 2026—

Covista Inc. · CVSA

Sep 2021$289M

Dec 2021$371M

Mar 2022$364M

Jun 2022$361M

Sep 2022$354M

Dec 2022$363M

Mar 2023$369M

Jun 2023$365M

Sep 2023$369M

Dec 2023$393M

Mar 2024$413M

Jun 2024$410M

Sep 2024$417M

Dec 2024$448M

Mar 2025$466M

Jun 2025$457M

Sep 2025$462M

Dec 2025$503M

Mar 2026$487M

Jun 2026—

Graham Holdings Company · GHC

Sep 2021$809M

Dec 2021$863M

Mar 2022$915M

Jun 2022$933M

Sep 2022$1.0B

Dec 2022$1.1B

Mar 2023$1.0B

Jun 2023$1.1B

Sep 2023$1.1B

Dec 2023$1.2B

Mar 2024$1.2B

Jun 2024$1.2B

Sep 2024$1.2B

Dec 2024$1.2B

Mar 2025$1.2B

Jun 2025$1.2B

Sep 2025$1.3B

Dec 2025$1.3B

Mar 2026$1.2B

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021$207M

Dec 2021$251M

Mar 2022$244M

Jun 2022$200M

Sep 2022$209M

Dec 2022$259M

Mar 2023$250M

Jun 2023$211M

Sep 2023$222M

Dec 2023$278M

Mar 2024$275M

Jun 2024$227M

Sep 2024$238M

Dec 2024$293M

Mar 2025$289M

Jun 2025$247M

Sep 2025$261M

Dec 2025$308M

Mar 2026$309M

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021$268M

Dec 2021$297M

Mar 2022$210M

Jun 2022$385M

Sep 2022$301M

Dec 2022$346M

Mar 2023$251M

Jun 2023$462M

Sep 2023$362M

Dec 2023$409M

Mar 2024$275M

Jun 2024$499M

Sep 2024$369M

Dec 2024$423M

Mar 2025$236M

Jun 2025$524M

Sep 2025$400M

Dec 2025$541M

Mar 2026$273M

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021$585M

Dec 2021$403M

Mar 2022$364M

Jun 2022$511M

Sep 2022$629M

Dec 2022$407M

Mar 2023$401M

Jun 2023$501M

Sep 2023$641M

Dec 2023$399M

Mar 2024$419M

Jun 2024$523M

Sep 2024$689M

Dec 2024$416M

Mar 2025$473M

Jun 2025$536M

Sep 2025$669M

Dec 2025$434M

Mar 2026$464M

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021$1.3B

Dec 2021$658M

Mar 2022$614M

Jun 2022$524M

Sep 2022$745M

Dec 2022$638M

Mar 2023$754M

Jun 2023$861M

Sep 2023$1.1B

Dec 2023$870M

Mar 2024$1.2B

Jun 2024$1.1B

Sep 2024$1.4B

Dec 2024$1.0B

Mar 2025$1.2B

Jun 2025$1.2B

Sep 2025$1.5B

Dec 2025$1.2B

Mar 2026$1.4B

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021$174M

Dec 2021$160M

Mar 2022$183M

Jun 2022$168M

Sep 2022$168M

Dec 2022$176M

Mar 2023$196M

Jun 2023$187M

Sep 2023$180M

Dec 2023$148M

Mar 2024$168M

Jun 2024$167M

Sep 2024$170M

Dec 2024$176M

Mar 2025$213M

Jun 2025$210M

Sep 2025$212M

Dec 2025$212M

Mar 2026$222M

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021$270M

Dec 2021$272M

Mar 2022$259M

Jun 2022$274M

Sep 2022$263M

Dec 2022$270M

Mar 2023$257M

Jun 2023$288M

Sep 2023$286M

Dec 2023$303M

Mar 2024$290M

Jun 2024$312M

Sep 2024$306M

Dec 2024$311M

Mar 2025$304M

Jun 2025$321M

Sep 2025$320M

Dec 2025$323M

Mar 2026$306M

Jun 2026—

Stride, Inc. · LRN

Sep 2021$400M

Dec 2021$410M

Mar 2022$422M

Jun 2022$455M

Sep 2022$425M

Dec 2022$458M

Mar 2023$470M

Jun 2023$483M

Sep 2023$480M

Dec 2023$505M

Mar 2024$521M

Jun 2024$534M

Sep 2024$551M

Dec 2024$587M

Mar 2025$613M

Jun 2025$654M

Sep 2025$621M

Dec 2025$631M

Mar 2026$630M

Jun 2026—

TAL Education Group · TAL

Sep 2021$1.4B

Dec 2021$1.0B

Mar 2022$541M

Jun 2022$224M

Sep 2022$294M

Dec 2022$233M

Mar 2023$269M

Jun 2023$275M

Sep 2023$412M

Dec 2023$374M

Mar 2024$430M

Jun 2024$414M

Sep 2024$619M

Dec 2024$606M

Mar 2025$610M

Jun 2025$575M

Sep 2025$861M

Dec 2025$770M

Mar 2026$802M

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021$97M

Dec 2021$105M

Mar 2022$102M

Jun 2022$101M

Sep 2022$111M

Dec 2022$120M

Mar 2023$164M

Jun 2023$153M

Sep 2023$170M

Dec 2023$175M

Mar 2024$184M

Jun 2024$177M

Sep 2024$196M

Dec 2024$201M

Mar 2025$207M

Jun 2025$204M

Sep 2025$222M

Dec 2025$221M

Mar 2026$221M

Jun 2026—

Revenue growth · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202223%

Sep 202224%

Dec 202223%

Mar 202323%

Jun 202323%

Sep 202322%

Dec 202319%

Mar 202414%

Jun 202410%

Sep 20246.0%

Dec 20245.9%

Mar 20255.9%

Jun 202510%

Sep 202510%

Dec 202510%

Mar 20269.5%

Jun 2026—

Covista Inc. · CVSA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202267%

Sep 202222%

Dec 2022-2.2%

Mar 20231.4%

Jun 20231.1%

Sep 20234.2%

Dec 20238.3%

Mar 202412%

Jun 202412%

Sep 202413%

Dec 202414%

Mar 202513%

Jun 202511%

Sep 202511%

Dec 202512%

Mar 20264.5%

Jun 2026—

Graham Holdings Company · GHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202216%

Sep 202225%

Dec 202223%

Mar 202313%

Jun 202318%

Sep 20239.9%

Dec 20239.7%

Mar 202412%

Jun 20247.2%

Sep 20248.5%

Dec 20246.8%

Mar 20251.1%

Jun 20252.6%

Sep 20256.0%

Dec 20250.4%

Mar 20266.0%

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-0.5%

Sep 20221.0%

Dec 20223.2%

Mar 20232.5%

Jun 20235.5%

Sep 20236.2%

Dec 20237.3%

Mar 202410%

Jun 20247.6%

Sep 20247.2%

Dec 20245.4%

Mar 20255.1%

Jun 20258.8%

Sep 20259.7%

Dec 20255.1%

Mar 20266.9%

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202217%

Sep 202212%

Dec 202217%

Mar 202320%

Jun 202320%

Sep 202320%

Dec 202318%

Mar 20249.6%

Jun 20248.0%

Sep 20241.9%

Dec 20243.4%

Mar 2025-14%

Jun 20255.0%

Sep 20258.4%

Dec 202528%

Mar 202616%

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202217%

Sep 20227.5%

Dec 20221.0%

Mar 202310%

Jun 2023-2.0%

Sep 20231.9%

Dec 2023-2.0%

Mar 20244.5%

Jun 20244.4%

Sep 20247.5%

Dec 20244.3%

Mar 202513%

Jun 20252.5%

Sep 2025-2.9%

Dec 20254.3%

Mar 2026-1.9%

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-57%

Sep 2022-43%

Dec 2022-3.0%

Mar 202323%

Jun 202364%

Sep 202348%

Dec 202336%

Mar 202460%

Jun 202432%

Sep 202430%

Dec 202419%

Mar 2025-2.0%

Jun 20259.3%

Sep 20256.1%

Dec 202515%

Mar 202620%

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-4.6%

Sep 2022-3.5%

Dec 202210%

Mar 20237.1%

Jun 202311%

Sep 20237.1%

Dec 2023-16%

Mar 2024-14%

Jun 2024-11%

Sep 2024-5.6%

Dec 202419%

Mar 202527%

Jun 202526%

Sep 202525%

Dec 202520%

Mar 20264.2%

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-8.4%

Sep 2022-2.6%

Dec 2022-0.7%

Mar 2023-0.8%

Jun 20235.1%

Sep 20238.8%

Dec 202312%

Mar 202413%

Jun 20248.3%

Sep 20247.0%

Dec 20242.6%

Mar 20254.8%

Jun 20252.9%

Sep 20254.6%

Dec 20253.9%

Mar 20260.7%

Jun 2026—

Stride, Inc. · LRN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202214%

Sep 20226.3%

Dec 202212%

Mar 202311%

Jun 20236.2%

Sep 202313%

Dec 202310%

Mar 202411%

Jun 202411%

Sep 202415%

Dec 202416%

Mar 202518%

Jun 202522%

Sep 202513%

Dec 20257.5%

Mar 20262.8%

Jun 2026—

TAL Education Group · TAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-84%

Sep 2022-80%

Dec 2022-77%

Mar 2023-50%

Jun 202323%

Sep 202340%

Dec 202361%

Mar 202460%

Jun 202451%

Sep 202450%

Dec 202462%

Mar 202542%

Jun 202539%

Sep 202539%

Dec 202527%

Mar 202631%

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202220%

Sep 202214%

Dec 202214%

Mar 202361%

Jun 202351%

Sep 202353%

Dec 202346%

Mar 202412%

Jun 202416%

Sep 202415%

Dec 202415%

Mar 202513%

Jun 202515%

Sep 202513%

Dec 202510.0%

Mar 20266.8%

Jun 2026—

02 · compare level, then change

Operating Economics & Margin Trend

Grand Canyon Education, Inc. has the highest OPM among the 20 Education & Training Services companies compared here, at 30.9%. Perdoceo Education Corporation is next at 28.5%. Chegg, Inc. has the highest Margin change at +22.3 percentage points, so level and change sit with different companies. 19 of 20 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Grand Canyon Education, Inc. leads opm at 30.9%; Chegg, Inc. leads margin change at +22.3 percentage points.

LeaderGrand Canyon Education, Inc. · 30.9%

Gap8.4% versus #2 · Perdoceo Education Corporation

Persistence5/8 recent comparable periods

Coverage19/20 companies · 345 observations

Investor read: Grand Canyon Education, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Grand Canyon Education, Inc. LOPE31%

2Perdoceo Education Corporation PRDO29%

3Stride, Inc. LRN21%

4Covista Inc. CVSA19%

5Legacy Education Inc. LGCY19%

Margin changefastest expanders

1Chegg, Inc. CHGG+22.3 pp

2TAL Education Group TAL+11.6 pp

3Franklin Covey Co. FC+9.5 pp

4American Public Education, Inc. APEI+5.0 pp

5Perdoceo Education Corporation PRDO+4.2 pp

Operating margin · company comparison

19/20 level · 19/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Grand Canyon Education, Inc. LOPE	31%	+0.5 pp	Mar 2026
Perdoceo Education Corporation PRDO	29%	+4.2 pp	Mar 2026
Stride, Inc. LRN	21%	−0.8 pp	Mar 2026
Covista Inc. CVSA	19%	−0.6 pp	Mar 2026
Legacy Education Inc. LGCY	19%	−1.2 pp	Mar 2026
Strategic Education, Inc. STRA	13%	+0.3 pp	Mar 2026
New Oriental Education & Technology Group Inc. EDU	13%	+2.2 pp	Mar 2026
American Public Education, Inc. APEI	12%	+5.0 pp	Mar 2026
TAL Education Group TAL	9.0%	+11.6 pp	Mar 2026
Franklin Covey Co. FC	6.2%	+9.5 pp	Jun 2026
Graham Holdings Company GHC	4.7%	+0.6 pp	Mar 2026
Lincoln Educational Services Corporation LINC	4.5%	+1.6 pp	Mar 2026
Universal Technical Institute, Inc. UTI	0.2%	−7.9 pp	Mar 2026
McGraw Hill, Inc. MH	-1.4%	−7.3 pp	Mar 2026
Chegg, Inc. CHGG	-1.6%	+22.3 pp	Mar 2026
Laureate Education, Inc. LAUR	-10%	−4.5 pp	Mar 2026
Coursera, Inc. COUR	-13%	−4.9 pp	Mar 2026
Phoenix Education Partners, Inc. PXED	-40%	−5.7 pp	Jun 2026
KinderCare Learning Companies, Inc. KLC	-41%	−50.3 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021-29%

Dec 2021-41%

Mar 2022-31%

Jun 2022-38%

Sep 2022-27%

Dec 2022-39%

Mar 2023-27%

Jun 2023-25%

Sep 2023-24%

Dec 2023-17%

Mar 2024-18%

Jun 2024-18%

Sep 2024-12%

Dec 2024-17%

Mar 2025-8.0%

Jun 2025-8.1%

Sep 2025-8.0%

Dec 2025-16%

Mar 2026-13%

Jun 2026—

Covista Inc. · CVSA

Sep 2021-7.6%

Dec 20216.7%

Mar 20229.0%

Jun 202213%

Sep 20226.7%

Dec 202213%

Mar 202316%

Jun 202311%

Sep 20237.6%

Dec 202315%

Mar 202415%

Jun 202417%

Sep 202417%

Dec 202423%

Mar 202519%

Jun 202517%

Sep 202519%

Dec 202522%

Mar 202619%

Jun 2026—

Graham Holdings Company · GHC

Sep 2021-2.1%

Dec 20212.6%

Mar 20224.4%

Jun 20224.2%

Sep 20225.9%

Dec 2022-5.2%

Mar 20232.7%

Jun 20235.3%

Sep 2023-5.1%

Dec 20233.5%

Mar 20243.1%

Jun 20242.2%

Sep 20246.8%

Dec 20245.8%

Mar 20254.1%

Jun 20256.0%

Sep 20255.2%

Dec 20253.8%

Mar 20264.7%

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 202122%

Dec 202141%

Mar 202232%

Jun 202217%

Sep 202217%

Dec 202235%

Mar 202330%

Jun 202317%

Sep 202319%

Dec 202335%

Mar 202431%

Jun 202419%

Sep 202420%

Dec 202434%

Mar 202530%

Jun 202521%

Sep 20256.9%

Dec 202535%

Mar 202631%

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 202113%

Dec 2021-3.7%

Mar 20224.3%

Jun 202233%

Sep 202219%

Dec 202223%

Mar 20236.2%

Jun 202333%

Sep 202316%

Dec 202327%

Mar 20244.0%

Jun 202433%

Sep 202420%

Dec 202429%

Mar 2025-5.6%

Jun 202537%

Sep 202518%

Dec 202533%

Mar 2026-10%

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021-0.4%

Dec 2021-3.0%

Mar 2022-127%

Jun 202211%

Sep 202215%

Dec 2022-71%

Mar 2023-12%

Jun 20239.1%

Sep 202322%

Dec 20231.7%

Mar 2024-9.7%

Jun 202415%

Sep 202426%

Dec 20245.8%

Mar 20255.9%

Jun 202518%

Sep 202523%

Dec 20257.0%

Mar 2026-1.4%

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 20212.5%

Dec 2021-117%

Mar 2022-23%

Jun 2022-20%

Sep 202211%

Dec 2022-0.4%

Mar 20238.8%

Jun 20235.6%

Sep 202319%

Dec 20232.5%

Mar 20249.4%

Jun 20240.9%

Sep 202420%

Dec 20241.9%

Mar 202511%

Jun 2025-0.7%

Sep 202520%

Dec 20255.6%

Mar 202613%

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 202122%

Dec 202122%

Mar 202224%

Jun 202220%

Sep 202217%

Dec 202213%

Mar 202322%

Jun 202326%

Sep 202324%

Dec 202311%

Mar 202428%

Jun 202428%

Sep 202426%

Dec 202421%

Mar 202524%

Jun 202525%

Sep 202524%

Dec 202520%

Mar 202629%

Jun 2026—

Strategic Education, Inc. · STRA

Sep 20212.7%

Dec 202110%

Mar 20225.2%

Jun 20228.0%

Sep 20223.0%

Dec 202210%

Mar 2023-0.5%

Jun 20235.8%

Sep 20239.0%

Dec 202318%

Mar 202414%

Jun 202413%

Sep 202412%

Dec 202412%

Mar 202513%

Jun 202514%

Sep 202512%

Dec 202516%

Mar 202613%

Jun 2026—

Stride, Inc. · LRN

Sep 2021-1.7%

Dec 202114%

Mar 202214%

Jun 202210%

Sep 2022-6.8%

Dec 202215%

Mar 202315%

Jun 202311%

Sep 20230.7%

Dec 202317%

Mar 202417%

Jun 202414%

Sep 20248.6%

Dec 202421%

Mar 202521%

Jun 20258.7%

Sep 202511%

Dec 202523%

Mar 202621%

Jun 2026—

TAL Education Group · TAL

Sep 2021-26%

Dec 2021-11%

Mar 20220.1%

Jun 2022-13%

Sep 20225.1%

Dec 2022-14%

Mar 2023-17%

Jun 2023-21%

Sep 20237.7%

Dec 2023-8.6%

Mar 2024-2.6%

Jun 2024-4.2%

Sep 20247.7%

Dec 2024-2.9%

Mar 2025-2.6%

Jun 20252.5%

Sep 202511%

Dec 202512%

Mar 20269.0%

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 202113%

Dec 202113%

Mar 20223.3%

Jun 20221.9%

Sep 20223.1%

Dec 20223.7%

Mar 20233.6%

Jun 20230.4%

Sep 20236.1%

Dec 20238.1%

Mar 20246.1%

Jun 20244.2%

Sep 202413%

Dec 202414%

Mar 20258.1%

Jun 20256.9%

Sep 202511%

Dec 20257.1%

Mar 20260.2%

Jun 2026—

Margin change · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+6.5 pp

Sep 2022+1.9 pp

Dec 2022+1.9 pp

Mar 2023+4.4 pp

Jun 2023+13.3 pp

Sep 2023+2.8 pp

Dec 2023+22.5 pp

Mar 2024+8.9 pp

Jun 2024+6.7 pp

Sep 2024+11.6 pp

Dec 2024−0.1 pp

Mar 2025+9.6 pp

Jun 2025+10.2 pp

Sep 2025+4.3 pp

Dec 2025+0.6 pp

Mar 2026−4.9 pp

Jun 2026—

Covista Inc. · CVSA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+3.7 pp

Sep 2022+14.3 pp

Dec 2022+5.9 pp

Mar 2023+7.1 pp

Jun 2023−1.9 pp

Sep 2023+0.9 pp

Dec 2023+2.3 pp

Mar 2024−1.1 pp

Jun 2024+5.9 pp

Sep 2024+9.2 pp

Dec 2024+8.3 pp

Mar 2025+4.4 pp

Jun 2025+0.1 pp

Sep 2025+1.7 pp

Dec 2025−1.1 pp

Mar 2026−0.6 pp

Jun 2026—

Graham Holdings Company · GHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.5 pp

Sep 2022+8.0 pp

Dec 2022−7.8 pp

Mar 2023−1.7 pp

Jun 2023+1.1 pp

Sep 2023−11.0 pp

Dec 2023+8.7 pp

Mar 2024+0.4 pp

Jun 2024−3.1 pp

Sep 2024+11.9 pp

Dec 2024+2.3 pp

Mar 2025+1.0 pp

Jun 2025+3.8 pp

Sep 2025−1.6 pp

Dec 2025−2.0 pp

Mar 2026+0.6 pp

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−8.0 pp

Sep 2022−4.9 pp

Dec 2022−5.6 pp

Mar 2023−1.9 pp

Jun 2023−0.1 pp

Sep 2023+1.7 pp

Dec 20230.0 pp

Mar 2024+1.0 pp

Jun 2024+2.0 pp

Sep 2024+1.5 pp

Dec 2024−0.9 pp

Mar 2025−0.4 pp

Jun 2025+2.1 pp

Sep 2025−13.3 pp

Dec 2025+0.9 pp

Mar 2026+0.5 pp

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+15.3 pp

Sep 2022+5.6 pp

Dec 2022+26.2 pp

Mar 2023+1.9 pp

Jun 2023+0.5 pp

Sep 2023−2.5 pp

Dec 2023+4.4 pp

Mar 2024−2.2 pp

Jun 20240.0 pp

Sep 2024+3.3 pp

Dec 2024+2.4 pp

Mar 2025−9.6 pp

Jun 2025+3.5 pp

Sep 2025−1.6 pp

Dec 2025+3.9 pp

Mar 2026−4.5 pp

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−18.1 pp

Sep 2022+15.2 pp

Dec 2022−67.7 pp

Mar 2023+115.0 pp

Jun 2023−1.5 pp

Sep 2023+7.6 pp

Dec 2023+72.4 pp

Mar 2024+2.2 pp

Jun 2024+5.4 pp

Sep 2024+3.6 pp

Dec 2024+4.1 pp

Mar 2025+15.6 pp

Jun 2025+3.5 pp

Sep 2025−2.6 pp

Dec 2025+1.2 pp

Mar 2026−7.3 pp

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−11.8 pp

Sep 2022+8.0 pp

Dec 2022+116.3 pp

Mar 2023+31.8 pp

Jun 2023+25.8 pp

Sep 2023+8.1 pp

Dec 2023+2.9 pp

Mar 2024+0.6 pp

Jun 2024−4.7 pp

Sep 2024+1.8 pp

Dec 2024−0.6 pp

Mar 2025+1.1 pp

Jun 2025−1.6 pp

Sep 20250.0 pp

Dec 2025+3.7 pp

Mar 2026+2.2 pp

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.3 pp

Sep 2022−4.4 pp

Dec 2022−8.7 pp

Mar 2023−1.7 pp

Jun 2023+5.6 pp

Sep 2023+6.5 pp

Dec 2023−2.1 pp

Mar 2024+5.3 pp

Jun 2024+1.8 pp

Sep 2024+2.5 pp

Dec 2024+10.3 pp

Mar 2025−3.2 pp

Jun 2025−3.1 pp

Sep 2025−2.3 pp

Dec 2025−1.3 pp

Mar 2026+4.2 pp

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.9 pp

Sep 2022+0.3 pp

Dec 20220.0 pp

Mar 2023−5.7 pp

Jun 2023−2.2 pp

Sep 2023+6.0 pp

Dec 2023+7.7 pp

Mar 2024+14.7 pp

Jun 2024+7.6 pp

Sep 2024+2.9 pp

Dec 2024−6.3 pp

Mar 2025−1.1 pp

Jun 2025+0.8 pp

Sep 2025−0.3 pp

Dec 2025+4.4 pp

Mar 2026+0.3 pp

Jun 2026—

Stride, Inc. · LRN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+4.7 pp

Sep 2022−5.1 pp

Dec 2022+0.9 pp

Mar 2023+1.0 pp

Jun 2023+1.1 pp

Sep 2023+7.5 pp

Dec 2023+1.9 pp

Mar 2024+1.6 pp

Jun 2024+2.6 pp

Sep 2024+7.9 pp

Dec 2024+4.6 pp

Mar 2025+4.3 pp

Jun 2025−5.1 pp

Sep 2025+2.5 pp

Dec 2025+2.0 pp

Mar 2026−0.8 pp

Jun 2026—

TAL Education Group · TAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−3.4 pp

Sep 2022+31.4 pp

Dec 2022−3.5 pp

Mar 2023−16.6 pp

Jun 2023−8.4 pp

Sep 2023+2.6 pp

Dec 2023+5.5 pp

Mar 2024+13.9 pp

Jun 2024+16.8 pp

Sep 20240.0 pp

Dec 2024+5.7 pp

Mar 20250.0 pp

Jun 2025+6.7 pp

Sep 2025+3.5 pp

Dec 2025+15.0 pp

Mar 2026+11.6 pp

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−1.7 pp

Sep 2022−10.0 pp

Dec 2022−9.2 pp

Mar 2023+0.3 pp

Jun 2023−1.5 pp

Sep 2023+3.0 pp

Dec 2023+4.4 pp

Mar 2024+2.5 pp

Jun 2024+3.8 pp

Sep 2024+7.2 pp

Dec 2024+5.5 pp

Mar 2025+2.0 pp

Jun 2025+2.7 pp

Sep 2025−2.1 pp

Dec 2025−6.5 pp

Mar 2026−7.9 pp

Jun 2026—

03 · compare level, then change

Profit Scale & Acceleration

TAL Education Group has the highest Net profit among the 20 Education & Training Services companies compared here, at $531 million. New Oriental Education & Technology Group Inc. is next at $464 million. Lincoln Educational Services Corporation has the highest Profit growth at 91.7%, so level and change sit with different companies.

What the numbers say: TAL Education Group leads with $531 million of TTM profit, 14.4% above New Oriental Education & Technology Group Inc.. Lincoln Educational Services Corporation shows 91.7% growth from a $23 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderTAL Education Group · $531 million

Gap14.4% versus #2 · New Oriental Education & Technology Group Inc.

Persistence4/5 recent comparable periods

Coverage17/20 companies · 345 observations

Investor read: TAL Education Group sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1TAL Education Group TAL$531M

2New Oriental Education & Technology Group Inc. EDU$464M

3Graham Holdings Company GHC$308M

4Stride, Inc. LRN$308M

5Laureate Education, Inc. LAUR$281M

Profit growthfastest growers

1Lincoln Educational Services Corporation LINC92%

2American Public Education, Inc. APEI64%

3Strategic Education, Inc. STRA15%

4Legacy Education Inc. LGCY14%

5Perdoceo Education Corporation PRDO13%

Net profit · company comparison

17/20 level · 11/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
TAL Education Group TAL	$244M	404%	Mar 2026
New Oriental Education & Technology Group Inc. EDU	$145M	44%	Mar 2026
Stride, Inc. LRN	$89M	-10%	Mar 2026
Grand Canyon Education, Inc. LOPE	$75M	4.2%	Mar 2026
Covista Inc. CVSA	$58M	-4.9%	Mar 2026
Perdoceo Education Corporation PRDO	$54M	23%	Mar 2026
Strategic Education, Inc. STRA	$33M	10%	Mar 2026
Graham Holdings Company GHC	$31M	19%	Mar 2026
American Public Education, Inc. APEI	$18M	100%	Mar 2026
Phoenix Education Partners, Inc. PXED	$10M	-38%	Jun 2026
Lincoln Educational Services Corporation LINC	$4M	100%	Mar 2026
Franklin Covey Co. FC	$3M	-400%	Jun 2026
Legacy Education Inc. LGCY	$3M	0.0%	Mar 2026
Universal Technical Institute, Inc. UTI	$0M	-100%	Mar 2026
Chegg, Inc. CHGG	$0M	-160%	Mar 2026
Coursera, Inc. COUR	$-21M	—	Mar 2026
Laureate Education, Inc. LAUR	$-22M	83%	Mar 2026
McGraw Hill, Inc. MH	$-50M	-21%	Mar 2026
KinderCare Learning Companies, Inc. KLC	$-290M	-844%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021$-32M

Dec 2021$-48M

Mar 2022$-38M

Jun 2022$-49M

Sep 2022$-36M

Dec 2022$-52M

Mar 2023$-32M

Jun 2023$-32M

Sep 2023$-32M

Dec 2023$-20M

Mar 2024$-21M

Jun 2024$-23M

Sep 2024$-14M

Dec 2024$-22M

Mar 2025$-8M

Jun 2025$-8M

Sep 2025$-9M

Dec 2025$-27M

Mar 2026$-21M

Jun 2026—

Covista Inc. · CVSA

Sep 2021$-77M

Dec 2021$39M

Mar 2022$4M

Jun 2022$1M

Sep 2022$6M

Dec 2022$24M

Mar 2023$49M

Jun 2023$24M

Sep 2023$12M

Dec 2023$38M

Mar 2024$37M

Jun 2024$51M

Sep 2024$46M

Dec 2024$71M

Mar 2025$61M

Jun 2025$54M

Sep 2025$61M

Dec 2025$76M

Mar 2026$58M

Jun 2026—

Graham Holdings Company · GHC

Sep 2021$40M

Dec 2021$85M

Mar 2022$97M

Jun 2022$-67M

Sep 2022$34M

Dec 2022$7M

Mar 2023$53M

Jun 2023$124M

Sep 2023$-21M

Dec 2023$56M

Mar 2024$125M

Jun 2024$-19M

Sep 2024$75M

Dec 2024$552M

Mar 2025$26M

Jun 2025$40M

Sep 2025$126M

Dec 2025$111M

Mar 2026$31M

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021$48M

Dec 2021$85M

Mar 2022$58M

Jun 2022$26M

Sep 2022$30M

Dec 2022$71M

Mar 2023$60M

Jun 2023$29M

Sep 2023$36M

Dec 2023$81M

Mar 2024$68M

Jun 2024$35M

Sep 2024$41M

Dec 2024$82M

Mar 2025$72M

Jun 2025$42M

Sep 2025$16M

Dec 2025$87M

Mar 2026$75M

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021$360M

Dec 2021$38M

Mar 2022$-45M

Jun 2022$44M

Sep 2022$31M

Dec 2022$39M

Mar 2023$-27M

Jun 2023$56M

Sep 2023$36M

Dec 2023$108M

Mar 2024$-11M

Jun 2024$128M

Sep 2024$85M

Dec 2024$94M

Mar 2025$-20M

Jun 2025$97M

Sep 2025$34M

Dec 2025$172M

Mar 2026$-22M

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021$-133M

Dec 2021$-61M

Mar 2022$-509M

Jun 2022$-9M

Sep 2022$25M

Dec 2022$-312M

Mar 2023$-107M

Jun 2023$-32M

Sep 2023$61M

Dec 2023$-76M

Mar 2024$-146M

Jun 2024$-9M

Sep 2024$133M

Dec 2024$-53M

Mar 2025$-157M

Jun 2025$1M

Sep 2025$105M

Dec 2025$-20M

Mar 2026$-50M

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021$49M

Dec 2021$-915M

Mar 2022$-121M

Jun 2022$-181M

Sep 2022$86M

Dec 2022$20M

Mar 2023$84M

Jun 2023$52M

Sep 2023$185M

Dec 2023$49M

Mar 2024$99M

Jun 2024$51M

Sep 2024$243M

Dec 2024$38M

Mar 2025$101M

Jun 2025$8M

Sep 2025$248M

Dec 2025$63M

Mar 2026$145M

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021$28M

Dec 2021$24M

Mar 2022$32M

Jun 2022$26M

Sep 2022$22M

Dec 2022$16M

Mar 2023$34M

Jun 2023$55M

Sep 2023$41M

Dec 2023$17M

Mar 2024$39M

Jun 2024$38M

Sep 2024$38M

Dec 2024$31M

Mar 2025$44M

Jun 2025$41M

Sep 2025$40M

Dec 2025$35M

Mar 2026$54M

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021$4M

Dec 2021$22M

Mar 2022$7M

Jun 2022$15M

Sep 2022$6M

Dec 2022$18M

Mar 2023$-2M

Jun 2023$14M

Sep 2023$18M

Dec 2023$39M

Mar 2024$30M

Jun 2024$30M

Sep 2024$28M

Dec 2024$25M

Mar 2025$30M

Jun 2025$32M

Sep 2025$27M

Dec 2025$38M

Mar 2026$33M

Jun 2026—

Stride, Inc. · LRN

Sep 2021$-6M

Dec 2021$42M

Mar 2022$43M

Jun 2022$28M

Sep 2022$-23M

Dec 2022$51M

Mar 2023$55M

Jun 2023$43M

Sep 2023$5M

Dec 2023$67M

Mar 2024$70M

Jun 2024$63M

Sep 2024$41M

Dec 2024$96M

Mar 2025$99M

Jun 2025$51M

Sep 2025$69M

Dec 2025$99M

Mar 2026$89M

Jun 2026—

TAL Education Group · TAL

Sep 2021$-843M

Dec 2021$-114M

Mar 2022$-109M

Jun 2022$-44M

Sep 2022$0M

Dec 2022$-52M

Mar 2023$-34M

Jun 2023$-45M

Sep 2023$37M

Dec 2023$-16M

Mar 2024$27M

Jun 2024$12M

Sep 2024$58M

Dec 2024$26M

Mar 2025$-2M

Jun 2025$31M

Sep 2025$125M

Dec 2025$131M

Mar 2026$244M

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021$12M

Dec 2021$15M

Mar 2022$7M

Jun 2022$1M

Sep 2022$3M

Dec 2022$3M

Mar 2023$3M

Jun 2023$-1M

Sep 2023$7M

Dec 2023$10M

Mar 2024$8M

Jun 2024$5M

Sep 2024$19M

Dec 2024$22M

Mar 2025$11M

Jun 2025$11M

Sep 2025$19M

Dec 2025$13M

Mar 2026$0M

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Covista Inc. · CVSA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022-38%

Mar 20231,125%

Jun 20232,300%

Sep 2023100%

Dec 202358%

Mar 2024-24%

Jun 2024113%

Sep 2024283%

Dec 202487%

Mar 202565%

Jun 20255.9%

Sep 202533%

Dec 20257.0%

Mar 2026-4.9%

Jun 2026—

Graham Holdings Company · GHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-158%

Sep 2022-15%

Dec 2022-92%

Mar 2023-45%

Jun 2023—

Sep 2023-162%

Dec 2023700%

Mar 2024136%

Jun 2024-115%

Sep 2024—

Dec 2024886%

Mar 2025-79%

Jun 2025—

Sep 202568%

Dec 2025-80%

Mar 202619%

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-47%

Sep 2022-38%

Dec 2022-16%

Mar 20233.5%

Jun 202312%

Sep 202320%

Dec 202314%

Mar 202413%

Jun 202421%

Sep 202414%

Dec 20241.2%

Mar 20255.9%

Jun 202520%

Sep 2025-61%

Dec 20256.1%

Mar 20264.2%

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-91%

Dec 20222.6%

Mar 2023—

Jun 202327%

Sep 202316%

Dec 2023177%

Mar 2024—

Jun 2024129%

Sep 2024136%

Dec 2024-13%

Mar 2025—

Jun 2025-24%

Sep 2025-60%

Dec 202583%

Mar 2026—

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-100%

Sep 20220.0%

Dec 2022-63%

Mar 2023—

Jun 2023—

Sep 2023-50%

Dec 2023-22%

Mar 2024—

Jun 2024-106%

Sep 2024100%

Dec 20240.0%

Mar 2025—

Jun 2025—

Sep 20250.0%

Dec 202586%

Mar 2026100%

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-111%

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023144%

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024118%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-21%

Dec 2025—

Mar 2026—

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-2,111%

Sep 202276%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023115%

Dec 2023145%

Mar 202418%

Jun 2024-1.9%

Sep 202431%

Dec 2024-22%

Mar 20252.0%

Jun 2025-84%

Sep 20252.1%

Dec 202566%

Mar 202644%

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-3.7%

Sep 2022-21%

Dec 2022-33%

Mar 20236.3%

Jun 2023112%

Sep 202386%

Dec 20236.3%

Mar 202415%

Jun 2024-31%

Sep 2024-7.3%

Dec 202482%

Mar 202513%

Jun 20257.9%

Sep 20255.3%

Dec 202513%

Mar 202623%

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-25%

Sep 202250%

Dec 2022-18%

Mar 2023-129%

Jun 2023-6.7%

Sep 2023200%

Dec 2023117%

Mar 2024—

Jun 2024114%

Sep 202456%

Dec 2024-36%

Mar 20250.0%

Jun 20256.7%

Sep 2025-3.6%

Dec 202552%

Mar 202610%

Jun 2026—

Stride, Inc. · LRN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022180%

Sep 2022—

Dec 202221%

Mar 202328%

Jun 202354%

Sep 2023—

Dec 202331%

Mar 202427%

Jun 202447%

Sep 2024720%

Dec 202443%

Mar 202541%

Jun 2025-19%

Sep 202568%

Dec 20253.1%

Mar 2026-10%

Jun 2026—

TAL Education Group · TAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 202457%

Dec 2024—

Mar 2025-107%

Jun 2025158%

Sep 2025116%

Dec 2025404%

Mar 2026—

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-67%

Sep 2022-75%

Dec 2022-80%

Mar 2023-57%

Jun 2023-200%

Sep 2023133%

Dec 2023233%

Mar 2024167%

Jun 2024—

Sep 2024171%

Dec 2024120%

Mar 202538%

Jun 2025120%

Sep 20250.0%

Dec 2025-41%

Mar 2026-100%

Jun 2026—

04 · compare level, then change

Capacity Spending & Returns On It

New Oriental Education & Technology Group Inc. has the highest CAPEX among the 20 Education & Training Services companies compared here, at $95 million. KinderCare Learning Companies, Inc. is next at $30 million. Universal Technical Institute, Inc. has the highest CAPEX intensity at 13.6%, so level and change sit with different companies.

What the numbers say: New Oriental Education & Technology Group Inc. reports $95 million of CAPEX; Universal Technical Institute, Inc. has the highest covered intensity at 13.6%. Coverage is only 18 of 20 companies and 304 reported observations, so this is partial evidence—not a complete sector rank.

LeaderNew Oriental Education & Technology Group Inc. · $95 million

Gap216.7% versus #2 · KinderCare Learning Companies, Inc.

PersistenceNot enough history

Coverage18/20 companies · 304 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1New Oriental Education & Technology Group Inc. EDU$95M

2KinderCare Learning Companies, Inc. KLC$30M

3Universal Technical Institute, Inc. UTI$30M

4McGraw Hill, Inc. MH$24M

5Covista Inc. CVSA$20M

CAPEX intensityhighest reinvestment intensity

1Universal Technical Institute, Inc. UTI14%

2Lincoln Educational Services Corporation LINC10%

3Coursera, Inc. COUR6.1%

4McGraw Hill, Inc. MH5.2%

5KinderCare Learning Companies, Inc. KLC4.5%

Capital expenditure · company comparison

18/20 level · 17/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
Universal Technical Institute, Inc. UTI	$30M	14%	Mar 2026
KinderCare Learning Companies, Inc. KLC	$30M	4.5%	Jun 2026
McGraw Hill, Inc. MH	$24M	5.2%	Mar 2026
Covista Inc. CVSA	$20M	4.1%	Mar 2026
Graham Holdings Company GHC	$19M	1.5%	Mar 2026
Lincoln Educational Services Corporation LINC	$15M	10%	Mar 2026
Coursera, Inc. COUR	$12M	6.1%	Mar 2026
Strategic Education, Inc. STRA	$10M	3.3%	Mar 2026
Laureate Education, Inc. LAUR	$8M	2.9%	Mar 2026
Grand Canyon Education, Inc. LOPE	$8M	2.6%	Mar 2026
Phoenix Education Partners, Inc. PXED	$5M	2.3%	Jun 2026
American Public Education, Inc. APEI	$3M	1.7%	Mar 2026
Perdoceo Education Corporation PRDO	$2M	0.9%	Mar 2026
Stride, Inc. LRN	$1M	0.2%	Mar 2026
Franklin Covey Co. FC	$1M	1.7%	Jun 2026
Chegg, Inc. CHGG	$1M	1.6%	Mar 2026
Legacy Education Inc. LGCY	$0M	0.0%	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021$4M

Dec 2021$3M

Mar 2022$5M

Jun 2022$4M

Sep 2022$4M

Dec 2022$2M

Mar 2023$4M

Jun 2023$6M

Sep 2023$6M

Dec 2023$6M

Mar 2024$6M

Jun 2024$7M

Sep 2024$11M

Dec 2024$12M

Mar 2025$8M

Jun 2025$7M

Sep 2025$7M

Dec 2025$8M

Mar 2026$12M

Jun 2026—

Covista Inc. · CVSA

Sep 2021$7M

Dec 2021$8M

Mar 2022$7M

Jun 2022$9M

Sep 2022$6M

Dec 2022$4M

Mar 2023$9M

Jun 2023$18M

Sep 2023$10M

Dec 2023$9M

Mar 2024$13M

Jun 2024$17M

Sep 2024$10M

Dec 2024$11M

Mar 2025$10M

Jun 2025$19M

Sep 2025$16M

Dec 2025$15M

Mar 2026$20M

Jun 2026—

Graham Holdings Company · GHC

Sep 2021$113M

Dec 2021$22M

Mar 2022$14M

Jun 2022$18M

Sep 2022$25M

Dec 2022$26M

Mar 2023$23M

Jun 2023$18M

Sep 2023$20M

Dec 2023$32M

Mar 2024$21M

Jun 2024$18M

Sep 2024$18M

Dec 2024$25M

Mar 2025$15M

Jun 2025$17M

Sep 2025$16M

Dec 2025$23M

Mar 2026$19M

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021$6M

Dec 2021$8M

Mar 2022$7M

Jun 2022$8M

Sep 2022$11M

Dec 2022$9M

Mar 2023$9M

Jun 2023$9M

Sep 2023$17M

Dec 2023$10M

Mar 2024$9M

Jun 2024$9M

Sep 2024$10M

Dec 2024$10M

Mar 2025$9M

Jun 2025$9M

Sep 2025$10M

Dec 2025$8M

Mar 2026$8M

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021$7M

Dec 2021$23M

Mar 2022$1M

Jun 2022$7M

Sep 2022$9M

Dec 2022$36M

Mar 2023$6M

Jun 2023$9M

Sep 2023$12M

Dec 2023$30M

Mar 2024$16M

Jun 2024$11M

Sep 2024$8M

Dec 2024$37M

Mar 2025$5M

Jun 2025$13M

Sep 2025$18M

Dec 2025$67M

Mar 2026$8M

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 2021$2M

Dec 2021$2M

Mar 2022$1M

Jun 2022$3M

Sep 2022$3M

Dec 2022$2M

Mar 2023$3M

Jun 2023$8M

Sep 2023$18M

Dec 2023$12M

Mar 2024$2M

Jun 2024$11M

Sep 2024$19M

Dec 2024$25M

Mar 2025$20M

Jun 2025$26M

Sep 2025$22M

Dec 2025$19M

Mar 2026$15M

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021$6M

Dec 2021$6M

Mar 2022$9M

Jun 2022$14M

Sep 2022$16M

Dec 2022$17M

Mar 2023$23M

Jun 2023$17M

Sep 2023—

Dec 2023—

Mar 2024$20M

Jun 2024$16M

Sep 2024$13M

Dec 2024$14M

Mar 2025$28M

Jun 2025$16M

Sep 2025$21M

Dec 2025$24M

Mar 2026$24M

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021$3M

Dec 2021$4M

Mar 2022$5M

Jun 2022$2M

Sep 2022$2M

Dec 2022$4M

Mar 2023$2M

Jun 2023$2M

Sep 2023$1M

Dec 2023$2M

Mar 2024$1M

Jun 2024$1M

Sep 2024$1M

Dec 2024$2M

Mar 2025$2M

Jun 2025$3M

Sep 2025$2M

Dec 2025$2M

Mar 2026$2M

Jun 2026—

Phoenix Education Partners, Inc. · PXED

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024$6M

Mar 2025$5M

Jun 2025$6M

Sep 2025$6M

Dec 2025$5M

Mar 2026$5M

Jun 2026$5M

Strategic Education, Inc. · STRA

Sep 2021$10M

Dec 2021$16M

Mar 2022$10M

Jun 2022$13M

Sep 2022$10M

Dec 2022$11M

Mar 2023$8M

Jun 2023$10M

Sep 2023$10M

Dec 2023$10M

Mar 2024$9M

Jun 2024$11M

Sep 2024$9M

Dec 2024$11M

Mar 2025$10M

Jun 2025$11M

Sep 2025$11M

Dec 2025$12M

Mar 2026$10M

Jun 2026—

Stride, Inc. · LRN

Sep 2021$1M

Dec 2021$1M

Mar 2022$2M

Jun 2022$5M

Sep 2022$1M

Dec 2022$2M

Mar 2023$1M

Jun 2023$1M

Sep 2023$2M

Dec 2023$0M

Mar 2024$0M

Jun 2024$1M

Sep 2024$1M

Dec 2024$0M

Mar 2025$0M

Jun 2025$0M

Sep 2025$0M

Dec 2025$0M

Mar 2026$1M

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021$7M

Dec 2021$11M

Mar 2022$42M

Jun 2022$16M

Sep 2022$10M

Dec 2022$7M

Mar 2023$32M

Jun 2023$10M

Sep 2023$8M

Dec 2023$4M

Mar 2024$6M

Jun 2024$7M

Sep 2024$8M

Dec 2024$3M

Mar 2025$11M

Jun 2025$11M

Sep 2025$16M

Dec 2025$22M

Mar 2026$30M

Jun 2026—

CAPEX intensity · reported quarter history

Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 20213.6%

Dec 20212.6%

Mar 20224.2%

Jun 20223.2%

Sep 20222.9%

Dec 20221.4%

Mar 20232.7%

Jun 20233.9%

Sep 20233.6%

Dec 20233.6%

Mar 20243.6%

Jun 20244.1%

Sep 20246.3%

Dec 20246.7%

Mar 20254.5%

Jun 20253.7%

Sep 20253.6%

Dec 20254.1%

Mar 20266.1%

Jun 2026—

Covista Inc. · CVSA

Sep 20212.4%

Dec 20212.2%

Mar 20221.9%

Jun 20222.5%

Sep 20221.7%

Dec 20221.1%

Mar 20232.4%

Jun 20234.9%

Sep 20232.7%

Dec 20232.3%

Mar 20243.1%

Jun 20244.1%

Sep 20242.4%

Dec 20242.5%

Mar 20252.1%

Jun 20254.2%

Sep 20253.5%

Dec 20253.0%

Mar 20264.1%

Jun 2026—

Graham Holdings Company · GHC

Sep 202114%

Dec 20212.5%

Mar 20221.5%

Jun 20221.9%

Sep 20222.5%

Dec 20222.4%

Mar 20232.2%

Jun 20231.6%

Sep 20231.8%

Dec 20232.7%

Mar 20241.8%

Jun 20241.5%

Sep 20241.5%

Dec 20242.0%

Mar 20251.3%

Jun 20251.4%

Sep 20251.3%

Dec 20251.8%

Mar 20261.5%

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 20212.9%

Dec 20213.2%

Mar 20222.9%

Jun 20224.0%

Sep 20225.3%

Dec 20223.5%

Mar 20233.6%

Jun 20234.3%

Sep 20237.7%

Dec 20233.6%

Mar 20243.3%

Jun 20244.0%

Sep 20244.2%

Dec 20243.4%

Mar 20253.1%

Jun 20253.6%

Sep 20253.8%

Dec 20252.6%

Mar 20262.6%

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 20212.6%

Dec 20217.7%

Mar 20220.5%

Jun 20221.8%

Sep 20223.0%

Dec 202210%

Mar 20232.4%

Jun 20231.9%

Sep 20233.3%

Dec 20237.3%

Mar 20245.8%

Jun 20242.2%

Sep 20242.2%

Dec 20248.7%

Mar 20252.1%

Jun 20252.5%

Sep 20254.5%

Dec 202512%

Mar 20262.9%

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 20212.2%

Dec 20212.3%

Mar 20221.2%

Jun 20223.7%

Sep 20223.3%

Dec 20222.2%

Mar 20233.4%

Jun 20239.0%

Sep 202318%

Dec 202312%

Mar 20241.9%

Jun 202411%

Sep 202417%

Dec 202421%

Mar 202517%

Jun 202522%

Sep 202516%

Dec 202513%

Mar 202610%

Jun 2026—

McGraw Hill, Inc. · MH

Sep 20211.0%

Dec 20211.5%

Mar 20222.5%

Jun 20222.7%

Sep 20222.5%

Dec 20224.2%

Mar 20235.7%

Jun 20233.4%

Sep 2023—

Dec 2023—

Mar 20244.8%

Jun 20243.1%

Sep 20241.9%

Dec 20243.4%

Mar 20255.9%

Jun 20253.0%

Sep 20253.1%

Dec 20255.5%

Mar 20265.2%

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 20211.7%

Dec 20212.5%

Mar 20222.7%

Jun 20221.2%

Sep 20221.2%

Dec 20222.3%

Mar 20231.0%

Jun 20231.1%

Sep 20230.6%

Dec 20231.4%

Mar 20240.6%

Jun 20240.6%

Sep 20240.6%

Dec 20241.1%

Mar 20250.9%

Jun 20251.4%

Sep 20250.9%

Dec 20250.9%

Mar 20260.9%

Jun 2026—

Phoenix Education Partners, Inc. · PXED

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20242.4%

Mar 20252.2%

Jun 2025—

Sep 20252.3%

Dec 20251.9%

Mar 20262.3%

Jun 2026—

Strategic Education, Inc. · STRA

Sep 20213.7%

Dec 20215.9%

Mar 20223.9%

Jun 20224.7%

Sep 20223.8%

Dec 20224.1%

Mar 20233.1%

Jun 20233.5%

Sep 20233.5%

Dec 20233.3%

Mar 20243.1%

Jun 20243.5%

Sep 20242.9%

Dec 20243.5%

Mar 20253.3%

Jun 20253.4%

Sep 20253.4%

Dec 20253.7%

Mar 20263.3%

Jun 2026—

Stride, Inc. · LRN

Sep 20210.3%

Dec 20210.2%

Mar 20220.5%

Jun 20221.1%

Sep 20220.2%

Dec 20220.4%

Mar 20230.2%

Jun 20230.2%

Sep 20230.4%

Dec 20230.0%

Mar 20240.0%

Jun 20240.2%

Sep 20240.2%

Dec 20240.0%

Mar 20250.0%

Jun 20250.0%

Sep 20250.0%

Dec 20250.0%

Mar 20260.2%

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 20217.2%

Dec 202111%

Mar 202241%

Jun 202216%

Sep 20229.0%

Dec 20225.8%

Mar 202320%

Jun 20236.5%

Sep 20234.7%

Dec 20232.3%

Mar 20243.3%

Jun 20244.0%

Sep 20244.1%

Dec 20241.5%

Mar 20255.3%

Jun 20255.4%

Sep 20257.2%

Dec 202510%

Mar 202614%

Jun 2026—

Annual capital allocation · 6-year view

18/20 capacity base · 20/20 OCF · 20/20 CAPEX · 20/20 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Jun 2021—

Dec 2021$41M

Dec 2022$37M

Dec 2023$35M

Dec 2024$37M

Dec 2025$43M

Covista Inc. · CVSA

Jun 2021$451M

Dec 2021$468M

Dec 2022$419M

Dec 2023$425M

Dec 2024$447M

Dec 2025—

Graham Holdings Company · GHC

Jun 2021—

Dec 2021$906M

Dec 2022$932M

Dec 2023$969M

Dec 2024$938M

Dec 2025$992M

Laureate Education, Inc. · LAUR

Jun 2021—

Dec 2021$884M

Dec 2022$913M

Dec 2023$934M

Dec 2024$807M

Dec 2025$964M

Lincoln Educational Services Corporation · LINC

Jun 2021—

Dec 2021$115M

Dec 2022$117M

Dec 2023$157M

Dec 2024$266M

Dec 2025$351M

McGraw Hill, Inc. · MH

Jun 2021—

Dec 2021$210M

Dec 2022$177M

Dec 2023$162M

Dec 2024$145M

Dec 2025$135M

New Oriental Education & Technology Group Inc. · EDU

Jun 2021$2.7B

Dec 2021$937M

Dec 2022$803M

Dec 2023$1.2B

Dec 2024$1.6B

Dec 2025—

Perdoceo Education Corporation · PRDO

Jun 2021—

Dec 2021$65M

Dec 2022$52M

Dec 2023$40M

Dec 2024$161M

Dec 2025$137M

Strategic Education, Inc. · STRA

Jun 2021—

Dec 2021$300M

Dec 2022$258M

Dec 2023$238M

Dec 2024$215M

Dec 2025$199M

Stride, Inc. · LRN

Jun 2021$167M

Dec 2021$147M

Dec 2022$122M

Dec 2023$105M

Dec 2024$95M

Dec 2025—

TAL Education Group · TAL

Jun 2021—

Dec 2021$508M

Dec 2022$438M

Dec 2023$636M

Dec 2024$801M

Dec 2025$880M

Universal Technical Institute, Inc. · UTI

Jun 2021—

Dec 2021$281M

Dec 2022$346M

Dec 2023$443M

Dec 2024$424M

Dec 2025$465M

Operating cash flow · fiscal-year history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Jun 2021—

Dec 2021$2M

Dec 2022$-38M

Dec 2023$30M

Dec 2024$95M

Dec 2025$109M

Covista Inc. · CVSA

Jun 2021$192M

Dec 2021$11M

Dec 2022$192M

Dec 2023$296M

Dec 2024$338M

Dec 2025—

Graham Holdings Company · GHC

Jun 2021—

Dec 2021$202M

Dec 2022$236M

Dec 2023$260M

Dec 2024$407M

Dec 2025$347M

Grand Canyon Education, Inc. · LOPE

Jun 2021—

Dec 2021$313M

Dec 2022$221M

Dec 2023$244M

Dec 2024$290M

Dec 2025$273M

Laureate Education, Inc. · LAUR

Jun 2021—

Dec 2021$-156M

Dec 2022$178M

Dec 2023$251M

Dec 2024$233M

Dec 2025$366M

McGraw Hill, Inc. · MH

Jun 2021—

Dec 2021$206M

Dec 2022$257M

Dec 2023$236M

Dec 2024$646M

Dec 2025$331M

New Oriental Education & Technology Group Inc. · EDU

Jun 2021$1.1B

Dec 2021$-1.3B

Dec 2022$971M

Dec 2023$1.1B

Dec 2024$897M

Dec 2025—

Perdoceo Education Corporation · PRDO

Jun 2021—

Dec 2021$191M

Dec 2022$148M

Dec 2023$112M

Dec 2024$162M

Dec 2025$225M

Strategic Education, Inc. · STRA

Jun 2021—

Dec 2021$181M

Dec 2022$126M

Dec 2023$117M

Dec 2024$169M

Dec 2025$198M

Stride, Inc. · LRN

Jun 2021$134M

Dec 2021$207M

Dec 2022$203M

Dec 2023$279M

Dec 2024$433M

Dec 2025—

TAL Education Group · TAL

Jun 2021—

Dec 2021$-939M

Dec 2022$7M

Dec 2023$306M

Dec 2024$398M

Dec 2025$601M

Universal Technical Institute, Inc. · UTI

Jun 2021—

Dec 2021$55M

Dec 2022$46M

Dec 2023$49M

Dec 2024$86M

Dec 2025$97M

CAPEX · reported cash flow · fiscal-year history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Jun 2021—

Dec 2021$15M

Dec 2022$15M

Dec 2023$22M

Dec 2024$36M

Dec 2025$30M

Covista Inc. · CVSA

Jun 2021$40M

Dec 2021$31M

Dec 2022$26M

Dec 2023$49M

Dec 2024$50M

Dec 2025—

Graham Holdings Company · GHC

Jun 2021—

Dec 2021$163M

Dec 2022$83M

Dec 2023$93M

Dec 2024$83M

Dec 2025$72M

Grand Canyon Education, Inc. · LOPE

Jun 2021—

Dec 2021$29M

Dec 2022$35M

Dec 2023$45M

Dec 2024$37M

Dec 2025$35M

Laureate Education, Inc. · LAUR

Jun 2021—

Dec 2021$50M

Dec 2022$53M

Dec 2023$56M

Dec 2024$72M

Dec 2025$103M

McGraw Hill, Inc. · MH

Jun 2021—

Dec 2021$31M

Dec 2022$70M

Dec 2023$82M

Dec 2024$71M

Dec 2025$85M

New Oriental Education & Technology Group Inc. · EDU

Jun 2021$429M

Dec 2021$151M

Dec 2022$143M

Dec 2023$249M

Dec 2024$242M

Dec 2025—

Perdoceo Education Corporation · PRDO

Jun 2021—

Dec 2021$10M

Dec 2022$13M

Dec 2023$6M

Dec 2024$5M

Dec 2025$9M

Strategic Education, Inc. · STRA

Jun 2021—

Dec 2021$49M

Dec 2022$43M

Dec 2023$37M

Dec 2024$41M

Dec 2025$44M

Stride, Inc. · LRN

Jun 2021$4M

Dec 2021$10M

Dec 2022$4M

Dec 2023$2M

Dec 2024$2M

Dec 2025—

TAL Education Group · TAL

Jun 2021—

Dec 2021$246M

Dec 2022$110M

Dec 2023$113M

Dec 2024$112M

Dec 2025$93M

Universal Technical Institute, Inc. · UTI

Jun 2021—

Dec 2021$61M

Dec 2022$79M

Dec 2023$57M

Dec 2024$24M

Dec 2025$42M

Free cash flow · fiscal-year history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Jun 2021—

Dec 2021$-13M

Dec 2022$-53M

Dec 2023$8M

Dec 2024$59M

Dec 2025$79M

Covista Inc. · CVSA

Jun 2021$152M

Dec 2021$-20M

Dec 2022$166M

Dec 2023$247M

Dec 2024$288M

Dec 2025—

Graham Holdings Company · GHC

Jun 2021—

Dec 2021$40M

Dec 2022$153M

Dec 2023$166M

Dec 2024$324M

Dec 2025$275M

Grand Canyon Education, Inc. · LOPE

Jun 2021—

Dec 2021$284M

Dec 2022$186M

Dec 2023$199M

Dec 2024$253M

Dec 2025$239M

Laureate Education, Inc. · LAUR

Jun 2021—

Dec 2021$-207M

Dec 2022$125M

Dec 2023$194M

Dec 2024$161M

Dec 2025$263M

McGraw Hill, Inc. · MH

Jun 2021—

Dec 2021$175M

Dec 2022$187M

Dec 2023$154M

Dec 2024$575M

Dec 2025$246M

New Oriental Education & Technology Group Inc. · EDU

Jun 2021$701M

Dec 2021$-1.4B

Dec 2022$828M

Dec 2023$873M

Dec 2024$655M

Dec 2025—

Perdoceo Education Corporation · PRDO

Jun 2021—

Dec 2021$181M

Dec 2022$136M

Dec 2023$106M

Dec 2024$157M

Dec 2025$217M

Strategic Education, Inc. · STRA

Jun 2021—

Dec 2021$131M

Dec 2022$83M

Dec 2023$80M

Dec 2024$129M

Dec 2025$154M

Stride, Inc. · LRN

Jun 2021$131M

Dec 2021$197M

Dec 2022$199M

Dec 2023$277M

Dec 2024$431M

Dec 2025—

TAL Education Group · TAL

Jun 2021—

Dec 2021$-1.2B

Dec 2022$-103M

Dec 2023$193M

Dec 2024$286M

Dec 2025$508M

Universal Technical Institute, Inc. · UTI

Jun 2021—

Dec 2021$-6M

Dec 2022$-33M

Dec 2023$-8M

Dec 2024$62M

Dec 2025$55M

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Coursera, Inc. has the lowest Gross debt among the 20 Education & Training Services companies compared here, at $0 million. New Oriental Education & Technology Group Inc. has the lowest Net debt at $3,995 million net cash, so level and change sit with different companies. 18 of 20 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: New Oriental Education & Technology Group Inc. has the clearest covered balance-sheet capacity with $3,995 million net cash and gross debt of $807 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderCoursera, Inc. · $0 million

Gapnull versus #2 · Franklin Covey Co.

Persistence8/8 recent comparable periods

Coverage18/20 companies · 319 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1Coursera, Inc. COUR$0M

2Franklin Covey Co. FC$0M

3Legacy Education Inc. LGCY$16M

4Chegg, Inc. CHGG$47M

5Phoenix Education Partners, Inc. PXED$66M

Net debtlowest net debt

1New Oriental Education & Technology Group Inc. EDU$-4.0B

2TAL Education Group TAL$-2.9B

3Coursera, Inc. COUR$-790M

4Perdoceo Education Corporation PRDO$-563M

5Stride, Inc. LRN$-259M

Debt and balance-sheet capacity · company comparison

18/20 level · 18/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
McGraw Hill, Inc. MH	$2.6B	$2.4B	Mar 2026
KinderCare Learning Companies, Inc. KLC	$2.5B	$2.4B	Jun 2026
Graham Holdings Company GHC	$1.2B	$138M	Mar 2026
New Oriental Education & Technology Group Inc. EDU	$807M	$-4.0B	Mar 2026
Covista Inc. CVSA	$736M	$589M	Mar 2026
Laureate Education, Inc. LAUR	$723M	$560M	Mar 2026
Stride, Inc. LRN	$547M	$-259M	Mar 2026
TAL Education Group TAL	$387M	$-2.9B	Mar 2026
Universal Technical Institute, Inc. UTI	$316M	$154M	Mar 2026
Lincoln Educational Services Corporation LINC	$207M	$190M	Mar 2026
American Public Education, Inc. APEI	$153M	$-68M	Mar 2026
Perdoceo Education Corporation PRDO	$117M	$-563M	Mar 2026
Strategic Education, Inc. STRA	$109M	$-49M	Mar 2026
Phoenix Education Partners, Inc. PXED	$66M	$-167M	Jun 2026
Chegg, Inc. CHGG	$47M	$-19M	Mar 2026
Legacy Education Inc. LGCY	$16M	$-6M	Mar 2026
Coursera, Inc. COUR	$0M	$-790M	Mar 2026
Franklin Covey Co. FC	$0M	$-12M	Jun 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021$21M

Dec 2021$20M

Mar 2022$18M

Jun 2022$17M

Sep 2022$16M

Dec 2022$14M

Mar 2023$12M

Jun 2023$10M

Sep 2023$8M

Dec 2023$7M

Mar 2024$4M

Jun 2024$2M

Sep 2024$4M

Dec 2024$0M

Mar 2025$3M

Jun 2025$0M

Sep 2025$0M

Dec 2025$0M

Mar 2026$0M

Jun 2026—

Covista Inc. · CVSA

Sep 2021$1.8B

Dec 2021$1.8B

Mar 2022$1.5B

Jun 2022$1.1B

Sep 2022$957M

Dec 2022$909M

Mar 2023$905M

Jun 2023$896M

Sep 2023$892M

Dec 2023$897M

Mar 2024$840M

Jun 2024$848M

Sep 2024$843M

Dec 2024$865M

Mar 2025$781M

Jun 2025$774M

Sep 2025$776M

Dec 2025$730M

Mar 2026$736M

Jun 2026—

Graham Holdings Company · GHC

Sep 2021$1.0B

Dec 2021$1.2B

Mar 2022$1.1B

Jun 2022$1.1B

Sep 2022$1.2B

Dec 2022$1.2B

Mar 2023$1.2B

Jun 2023$1.2B

Sep 2023$1.2B

Dec 2023$1.3B

Mar 2024$1.2B

Jun 2024$1.3B

Sep 2024$1.2B

Dec 2024$1.2B

Mar 2025$1.3B

Jun 2025$1.3B

Sep 2025$1.2B

Dec 2025$1.3B

Mar 2026$1.2B

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021$621M

Dec 2021$569M

Mar 2022$565M

Jun 2022$543M

Sep 2022$509M

Dec 2022$648M

Mar 2023$692M

Jun 2023$620M

Sep 2023$525M

Dec 2023$583M

Mar 2024$628M

Jun 2024$603M

Sep 2024$500M

Dec 2024$427M

Mar 2025$434M

Jun 2025$449M

Sep 2025$438M

Dec 2025$515M

Mar 2026$723M

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 2021$75M

Dec 2021$98M

Mar 2022$102M

Jun 2022$99M

Sep 2022$102M

Dec 2022$101M

Mar 2023$101M

Jun 2023$98M

Sep 2023$103M

Dec 2023$117M

Mar 2024$143M

Jun 2024$147M

Sep 2024$171M

Dec 2024$178M

Mar 2025$176M

Jun 2025$189M

Sep 2025$196M

Dec 2025$204M

Mar 2026$207M

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021$3.7B

Mar 2022$3.7B

Jun 2022—

Sep 2022—

Dec 2022$3.6B

Mar 2023$3.6B

Jun 2023$3.6B

Sep 2023—

Dec 2023$3.5B

Mar 2024$3.5B

Jun 2024—

Sep 2024—

Dec 2024$3.3B

Mar 2025$3.3B

Jun 2025$3.3B

Sep 2025$2.9B

Dec 2025$2.7B

Mar 2026$2.6B

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021$1.5B

Dec 2021$1.5B

Mar 2022$872M

Jun 2022$680M

Sep 2022$572M

Dec 2022$487M

Mar 2023$467M

Jun 2023$459M

Sep 2023$470M

Dec 2023$511M

Mar 2024$564M

Jun 2024$662M

Sep 2024$710M

Dec 2024$723M

Mar 2025$739M

Jun 2025$804M

Sep 2025$784M

Dec 2025$780M

Mar 2026$807M

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021$48M

Dec 2021$45M

Mar 2022$42M

Jun 2022$39M

Sep 2022$36M

Dec 2022$34M

Mar 2023$32M

Jun 2023$30M

Sep 2023$29M

Dec 2023$27M

Mar 2024$23M

Jun 2024$24M

Sep 2024$22M

Dec 2024$132M

Mar 2025$128M

Jun 2025$125M

Sep 2025$121M

Dec 2025$118M

Mar 2026$117M

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021$306M

Dec 2021$331M

Mar 2022$327M

Jun 2022$312M

Sep 2022$302M

Dec 2022$259M

Mar 2023$256M

Jun 2023$252M

Sep 2023$206M

Dec 2023$213M

Mar 2024$201M

Jun 2024$198M

Sep 2024$139M

Dec 2024$125M

Mar 2025$119M

Jun 2025$120M

Sep 2025$118M

Dec 2025$109M

Mar 2026$109M

Jun 2026—

Stride, Inc. · LRN

Sep 2021$589M

Dec 2021$586M

Mar 2022$576M

Jun 2022$566M

Sep 2022$572M

Dec 2022$565M

Mar 2023$556M

Jun 2023$544M

Sep 2023$548M

Dec 2023$542M

Mar 2024$536M

Jun 2024$528M

Sep 2024$560M

Dec 2024$561M

Mar 2025$562M

Jun 2025$550M

Sep 2025$588M

Dec 2025$556M

Mar 2026$547M

Jun 2026—

TAL Education Group · TAL

Sep 2021$3.8B

Dec 2021$882M

Mar 2022$242M

Jun 2022$178M

Sep 2022$161M

Dec 2022$159M

Mar 2023$158M

Jun 2023$165M

Sep 2023$173M

Dec 2023$214M

Mar 2024$239M

Jun 2024$346M

Sep 2024$348M

Dec 2024$381M

Mar 2025$333M

Jun 2025$374M

Sep 2025$373M

Dec 2025$377M

Mar 2026$387M

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021$198M

Dec 2021$218M

Mar 2022$199M

Jun 2022$218M

Sep 2022$210M

Dec 2022$383M

Mar 2023$356M

Jun 2023$355M

Sep 2023$350M

Dec 2023$348M

Mar 2024$323M

Jun 2024$313M

Sep 2024$296M

Dec 2024$286M

Mar 2025$257M

Jun 2025$261M

Sep 2025$279M

Dec 2025$290M

Mar 2026$316M

Jun 2026—

Net debt · reported quarter history

Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021$-795M

Dec 2021$-802M

Mar 2022$-762M

Jun 2022$-766M

Sep 2022$-770M

Dec 2022$-766M

Mar 2023$-767M

Jun 2023$-707M

Sep 2023$-713M

Dec 2023$-715M

Mar 2024$-721M

Jun 2024$-707M

Sep 2024$-715M

Dec 2024$-726M

Mar 2025$-745M

Jun 2025$-775M

Sep 2025$-798M

Dec 2025$-793M

Mar 2026$-790M

Jun 2026—

Covista Inc. · CVSA

Sep 2021$1.5B

Dec 2021$1.5B

Mar 2022$677M

Jun 2022$720M

Sep 2022$629M

Dec 2022$701M

Mar 2023$590M

Jun 2023$624M

Sep 2023$630M

Dec 2023$714M

Mar 2024$660M

Jun 2024$629M

Sep 2024$578M

Dec 2024$671M

Mar 2025$562M

Jun 2025$574M

Sep 2025$511M

Dec 2025$674M

Mar 2026$589M

Jun 2026—

Graham Holdings Company · GHC

Sep 2021$119M

Dec 2021$180M

Mar 2022$159M

Jun 2022$290M

Sep 2022$407M

Dec 2022$398M

Mar 2023$411M

Jun 2023$387M

Sep 2023$367M

Dec 2023$386M

Mar 2024$309M

Jun 2024$309M

Sep 2024$137M

Dec 2024$49M

Mar 2025$231M

Jun 2025$179M

Sep 2025$-23M

Dec 2025$-33M

Mar 2026$138M

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021$-1.3B

Dec 2021$223M

Mar 2022$251M

Jun 2022$366M

Sep 2022$173M

Dec 2022$554M

Mar 2023$553M

Jun 2023$499M

Sep 2023$387M

Dec 2023$486M

Mar 2024$494M

Jun 2024$467M

Sep 2024$359M

Dec 2024$329M

Mar 2025$317M

Jun 2025$307M

Sep 2025$192M

Dec 2025$363M

Mar 2026$560M

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 2021$28M

Dec 2021$15M

Mar 2022$36M

Jun 2022$32M

Sep 2022$32M

Dec 2022$40M

Mar 2023$46M

Jun 2023$7M

Sep 2023$37M

Dec 2023$41M

Mar 2024$74M

Jun 2024$80M

Sep 2024$117M

Dec 2024$119M

Mar 2025$147M

Jun 2025$172M

Sep 2025$183M

Dec 2025$175M

Mar 2026$190M

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021$3.4B

Mar 2022$3.4B

Jun 2022—

Sep 2022—

Dec 2022$3.4B

Mar 2023$3.4B

Jun 2023$3.5B

Sep 2023—

Dec 2023$3.3B

Mar 2024$3.3B

Jun 2024—

Sep 2024—

Dec 2024$2.8B

Mar 2025$2.9B

Jun 2025$3.0B

Sep 2025$2.4B

Dec 2025$2.2B

Mar 2026$2.4B

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021$-3.3B

Dec 2021$-3.3B

Mar 2022$-3.5B

Jun 2022$-3.5B

Sep 2022$-3.7B

Dec 2022$-3.7B

Mar 2023$-3.8B

Jun 2023$-3.5B

Sep 2023$-3.6B

Dec 2023$-3.9B

Mar 2024$-4.0B

Jun 2024$-4.1B

Sep 2024$-4.1B

Dec 2024$-4.0B

Mar 2025$-3.6B

Jun 2025$-3.8B

Sep 2025$-3.9B

Dec 2025$-4.2B

Mar 2026$-4.0B

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021$-433M

Dec 2021$-454M

Mar 2022$-457M

Jun 2022$-478M

Sep 2022$-489M

Dec 2022$-484M

Mar 2023$-488M

Jun 2023$-548M

Sep 2023$-575M

Dec 2023$-577M

Mar 2024$-619M

Jun 2024$-651M

Sep 2024$-701M

Dec 2024$-460M

Mar 2025$-484M

Jun 2025$-535M

Sep 2025$-548M

Dec 2025$-525M

Mar 2026$-563M

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021$29M

Dec 2021$56M

Mar 2022$27M

Jun 2022$40M

Sep 2022$28M

Dec 2022$36M

Mar 2023$29M

Jun 2023$46M

Sep 2023$9M

Dec 2023$5M

Mar 2024$-53M

Jun 2024$-58M

Sep 2024$-83M

Dec 2024$-59M

Mar 2025$-64M

Jun 2025$-45M

Sep 2025$-55M

Dec 2025$-39M

Mar 2026$-49M

Jun 2026—

Stride, Inc. · LRN

Sep 2021$370M

Dec 2021$329M

Mar 2022$267M

Jun 2022$177M

Sep 2022$377M

Dec 2022$247M

Mar 2023$182M

Jun 2023$21M

Sep 2023$293M

Dec 2023$188M

Mar 2024$159M

Jun 2024$-164M

Sep 2024$38M

Dec 2024$-156M

Mar 2025$-162M

Jun 2025$-435M

Sep 2025$-127M

Dec 2025$-70M

Mar 2026$-259M

Jun 2026—

TAL Education Group · TAL

Sep 2021$-1.2B

Dec 2021$-2.0B

Mar 2022$-2.5B

Jun 2022$-2.7B

Sep 2022$-2.9B

Dec 2022$-2.9B

Mar 2023$-3.0B

Jun 2023$-2.9B

Sep 2023$-2.8B

Dec 2023$-3.0B

Mar 2024$-3.1B

Jun 2024$-3.1B

Sep 2024$-3.1B

Dec 2024$-3.5B

Mar 2025$-3.3B

Jun 2025$-3.1B

Sep 2025$-2.9B

Dec 2025$-3.2B

Mar 2026$-2.9B

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021$64M

Dec 2021$118M

Mar 2022$138M

Jun 2022$147M

Sep 2022$115M

Dec 2022$221M

Mar 2023$235M

Jun 2023$244M

Sep 2023$198M

Dec 2023$204M

Mar 2024$207M

Jun 2024$197M

Sep 2024$134M

Dec 2024$114M

Mar 2025$121M

Jun 2025$143M

Sep 2025$110M

Dec 2025$127M

Mar 2026$154M

Jun 2026—

06 · compare level, then change

Return On Capital Employed

Neucleus Group Limited has the highest ROCE among the 20 Education & Training Services companies compared here, at 156.9%. Grand Canyon Education, Inc. is next at 79.3%. The same company also holds the highest ROCE change, at +46.8 percentage points. 20 of 20 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Neucleus Group Limited leads ROCE at 156.9%, 77.6 percentage points above Grand Canyon Education, Inc.. Neucleus Group Limited has the strongest latest improvement at +46.8 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderNeucleus Group Limited · 156.9%

Gap97.9% versus #2 · Grand Canyon Education, Inc.

PersistenceNot enough history

Coverage20/20 companies · 340 observations

Investor read: Neucleus Group Limited sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Neucleus Group Limited NEUC157%

2Grand Canyon Education, Inc. LOPE79%

3Phoenix Education Partners, Inc. PXED25%

4Legacy Education Inc. LGCY6.8%

5Stride, Inc. LRN6.3%

ROCE changefastest improvers

1Neucleus Group Limited NEUC+46.8 pp

2Grand Canyon Education, Inc. LOPE+27.6 pp

3Franklin Covey Co. FC+8.4 pp

4Chegg, Inc. CHGG+3.4 pp

5TAL Education Group TAL+2.2 pp

Return on capital · company comparison

20/20 level · 20/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
Grand Canyon Education, Inc. LOPE	79%	+27.6 pp	Mar 2026
Phoenix Education Partners, Inc. PXED	25%	−7.3 pp	Jun 2026
Legacy Education Inc. LGCY	6.8%	−2.8 pp	Mar 2026
Stride, Inc. LRN	6.3%	−1.1 pp	Mar 2026
Franklin Covey Co. FC	5.8%	+8.4 pp	Jun 2026
Perdoceo Education Corporation PRDO	5.6%	+0.5 pp	Mar 2026
American Public Education, Inc. APEI	4.6%	+2.1 pp	Mar 2026
Covista Inc. CVSA	4.1%	0.0 pp	Mar 2026
New Oriental Education & Technology Group Inc. EDU	3.8%	+1.1 pp	Mar 2026
TAL Education Group TAL	1.8%	+2.2 pp	Mar 2026
Lincoln Educational Services Corporation LINC	1.7%	+0.6 pp	Mar 2026
Graham Holdings Company GHC	0.9%	+0.1 pp	Mar 2026
Universal Technical Institute, Inc. UTI	0.1%	−3.0 pp	Mar 2026
Strategic Education, Inc. STRA	0.0%	−2.1 pp	Mar 2026
McGraw Hill, Inc. MH	-0.1%	−0.7 pp	Mar 2026
Chegg, Inc. CHGG	-0.5%	+3.4 pp	Mar 2026
Laureate Education, Inc. LAUR	-1.7%	−0.9 pp	Mar 2026
Coursera, Inc. COUR	-4.0%	−1.7 pp	Mar 2026
KinderCare Learning Companies, Inc. KLC	-8.7%	−10.8 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021-6.1%

Dec 2021-9.3%

Mar 2022-7.4%

Jun 2022-6.4%

Sep 2022-4.9%

Dec 2022-7.7%

Mar 2023-5.5%

Jun 2023-5.6%

Sep 2023-5.9%

Dec 2023-4.3%

Mar 2024-4.6%

Jun 2024-5.1%

Sep 2024-3.6%

Dec 2024-5.0%

Mar 2025-2.3%

Jun 2025-2.5%

Sep 2025-2.5%

Dec 2025-5.2%

Mar 2026-4.0%

Jun 2026—

Covista Inc. · CVSA

Sep 2021-0.9%

Dec 20211.0%

Mar 20221.2%

Jun 20221.7%

Sep 20220.8%

Dec 20221.6%

Mar 20232.2%

Jun 20231.6%

Sep 20231.2%

Dec 20232.5%

Mar 20242.7%

Jun 20243.0%

Sep 20243.1%

Dec 20244.5%

Mar 20254.1%

Jun 20253.4%

Sep 20253.8%

Dec 20254.9%

Mar 20264.1%

Jun 2026—

Graham Holdings Company · GHC

Sep 2021-0.3%

Dec 20210.4%

Mar 20220.7%

Jun 20220.7%

Sep 20221.0%

Dec 2022-0.9%

Mar 20230.5%

Jun 20231.0%

Sep 2023-1.0%

Dec 20230.7%

Mar 20240.6%

Jun 20240.4%

Sep 20241.4%

Dec 20241.2%

Mar 20250.8%

Jun 20251.2%

Sep 20251.1%

Dec 20250.7%

Mar 20260.9%

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 202140%

Dec 202124%

Mar 202236%

Jun 202232%

Sep 202270%

Dec 202225%

Mar 202349%

Jun 202325%

Sep 202386%

Dec 202373%

Mar 202456%

Jun 202422%

Sep 202430%

Dec 202443%

Mar 202552%

Jun 202524%

Sep 202510%

Dec 202550%

Mar 202679%

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 20211.1%

Dec 2021-0.4%

Mar 20220.3%

Jun 20225.3%

Sep 20223.2%

Dec 20224.5%

Mar 20230.9%

Jun 20238.9%

Sep 20233.7%

Dec 20236.7%

Mar 20240.7%

Jun 20249.7%

Sep 20244.5%

Dec 20247.8%

Mar 2025-0.8%

Jun 202512%

Sep 20254.5%

Dec 202511%

Mar 2026-1.7%

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021-0.4%

Mar 2022-14%

Jun 2022—

Sep 2022—

Dec 2022-5.6%

Mar 2023-0.9%

Jun 20231.8%

Sep 2023—

Dec 20230.1%

Mar 2024-0.8%

Jun 20243.1%

Sep 2024—

Dec 20240.5%

Mar 20250.6%

Jun 20254.3%

Sep 20256.8%

Dec 20250.7%

Mar 2026-0.1%

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 20210.7%

Dec 2021-13%

Mar 2022-2.5%

Jun 2022-1.9%

Sep 20221.6%

Dec 2022-0.1%

Mar 20231.5%

Jun 20231.1%

Sep 20234.8%

Dec 20230.5%

Mar 20242.6%

Jun 20240.2%

Sep 20246.5%

Dec 20240.4%

Mar 20252.7%

Jun 2025-0.2%

Sep 20256.5%

Dec 20251.4%

Mar 20263.8%

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 20215.9%

Dec 20215.2%

Mar 20226.3%

Jun 20224.8%

Sep 20224.0%

Dec 20223.0%

Mar 20235.6%

Jun 20236.0%

Sep 20235.2%

Dec 20231.9%

Mar 20245.3%

Jun 20245.1%

Sep 20244.8%

Dec 20243.7%

Mar 20255.1%

Jun 20255.0%

Sep 20254.8%

Dec 20253.8%

Mar 20265.6%

Jun 2026—

Strategic Education, Inc. · STRA

Sep 20210.4%

Dec 20211.3%

Mar 20220.6%

Jun 20221.1%

Sep 20220.4%

Dec 20221.4%

Mar 2023-0.1%

Jun 20230.9%

Sep 20231.3%

Dec 20232.8%

Mar 20242.2%

Jun 20242.2%

Sep 20241.9%

Dec 20241.9%

Mar 20252.1%

Jun 20252.4%

Sep 20252.0%

Dec 20252.8%

Mar 20260.0%

Jun 2026—

Stride, Inc. · LRN

Sep 2021-0.6%

Dec 20214.5%

Mar 20224.7%

Jun 20223.5%

Sep 2022-2.2%

Dec 20225.1%

Mar 20235.3%

Jun 20233.9%

Sep 20230.2%

Dec 20235.8%

Mar 20245.8%

Jun 20244.7%

Sep 20242.9%

Dec 20247.4%

Mar 20257.4%

Jun 20253.1%

Sep 20253.6%

Dec 20257.5%

Mar 20266.3%

Jun 2026—

TAL Education Group · TAL

Sep 2021-8.1%

Dec 2021-2.1%

Mar 20220.0%

Jun 2022-0.6%

Sep 20220.3%

Dec 2022-0.8%

Mar 2023-1.1%

Jun 2023-1.5%

Sep 20230.8%

Dec 2023-0.8%

Mar 2024-0.3%

Jun 2024-0.4%

Sep 20241.2%

Dec 2024-0.4%

Mar 2025-0.4%

Jun 20250.4%

Sep 20252.5%

Dec 20252.4%

Mar 20261.8%

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 20213.7%

Dec 20213.7%

Mar 20220.9%

Jun 20220.5%

Sep 20220.9%

Dec 20220.9%

Mar 20231.2%

Jun 20230.1%

Sep 20232.1%

Dec 20232.5%

Mar 20242.0%

Jun 20241.4%

Sep 20244.8%

Dec 20245.0%

Mar 20253.1%

Jun 20252.6%

Sep 20254.4%

Dec 20252.7%

Mar 20260.1%

Jun 2026—

ROCE change · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.2 pp

Dec 2022+1.6 pp

Mar 2023+1.9 pp

Jun 2023+0.8 pp

Sep 2023−1.0 pp

Dec 2023+3.4 pp

Mar 2024+0.9 pp

Jun 2024+0.5 pp

Sep 2024+2.3 pp

Dec 2024−0.7 pp

Mar 2025+2.3 pp

Jun 2025+2.6 pp

Sep 2025+1.1 pp

Dec 2025−0.2 pp

Mar 2026−1.7 pp

Jun 2026—

Covista Inc. · CVSA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.7 pp

Dec 2022+0.6 pp

Mar 2023+1.0 pp

Jun 2023−0.1 pp

Sep 2023+0.4 pp

Dec 2023+0.9 pp

Mar 2024+0.5 pp

Jun 2024+1.4 pp

Sep 2024+1.9 pp

Dec 2024+2.0 pp

Mar 2025+1.4 pp

Jun 2025+0.4 pp

Sep 2025+0.7 pp

Dec 2025+0.4 pp

Mar 20260.0 pp

Jun 2026—

Graham Holdings Company · GHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.3 pp

Dec 2022−1.3 pp

Mar 2023−0.2 pp

Jun 2023+0.3 pp

Sep 2023−2.0 pp

Dec 2023+1.6 pp

Mar 2024+0.1 pp

Jun 2024−0.6 pp

Sep 2024+2.4 pp

Dec 2024+0.5 pp

Mar 2025+0.2 pp

Jun 2025+0.8 pp

Sep 2025−0.3 pp

Dec 2025−0.5 pp

Mar 2026+0.1 pp

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+30.6 pp

Dec 2022+0.9 pp

Mar 2023+12.3 pp

Jun 2023−7.3 pp

Sep 2023+15.5 pp

Dec 2023+48.2 pp

Mar 2024+7.6 pp

Jun 2024−2.9 pp

Sep 2024−55.8 pp

Dec 2024−30.8 pp

Mar 2025−4.4 pp

Jun 2025+1.7 pp

Sep 2025−20.1 pp

Dec 2025+7.0 pp

Mar 2026+27.6 pp

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.1 pp

Dec 2022+4.9 pp

Mar 2023+0.6 pp

Jun 2023+3.6 pp

Sep 2023+0.5 pp

Dec 2023+2.2 pp

Mar 2024−0.2 pp

Jun 2024+0.8 pp

Sep 2024+0.8 pp

Dec 2024+1.1 pp

Mar 2025−1.5 pp

Jun 2025+2.1 pp

Sep 20250.0 pp

Dec 2025+3.3 pp

Mar 2026−0.9 pp

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−5.2 pp

Mar 2023+12.8 pp

Jun 2023—

Sep 2023—

Dec 2023+5.7 pp

Mar 2024+0.1 pp

Jun 2024+1.3 pp

Sep 2024—

Dec 2024+0.4 pp

Mar 2025+1.4 pp

Jun 2025+1.2 pp

Sep 2025—

Dec 2025+0.2 pp

Mar 2026−0.7 pp

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.9 pp

Dec 2022+13.1 pp

Mar 2023+4.0 pp

Jun 2023+3.0 pp

Sep 2023+3.2 pp

Dec 2023+0.6 pp

Mar 2024+1.1 pp

Jun 2024−0.9 pp

Sep 2024+1.7 pp

Dec 2024−0.1 pp

Mar 2025+0.1 pp

Jun 2025−0.4 pp

Sep 20250.0 pp

Dec 2025+1.0 pp

Mar 2026+1.1 pp

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.9 pp

Dec 2022−2.2 pp

Mar 2023−0.7 pp

Jun 2023+1.2 pp

Sep 2023+1.2 pp

Dec 2023−1.1 pp

Mar 2024−0.3 pp

Jun 2024−0.9 pp

Sep 2024−0.4 pp

Dec 2024+1.8 pp

Mar 2025−0.2 pp

Jun 2025−0.1 pp

Sep 20250.0 pp

Dec 2025+0.1 pp

Mar 2026+0.5 pp

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20220.0 pp

Dec 2022+0.1 pp

Mar 2023−0.7 pp

Jun 2023−0.2 pp

Sep 2023+0.9 pp

Dec 2023+1.4 pp

Mar 2024+2.3 pp

Jun 2024+1.3 pp

Sep 2024+0.6 pp

Dec 2024−0.9 pp

Mar 2025−0.1 pp

Jun 2025+0.2 pp

Sep 2025+0.1 pp

Dec 2025+0.9 pp

Mar 2026−2.1 pp

Jun 2026—

Stride, Inc. · LRN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.6 pp

Dec 2022+0.6 pp

Mar 2023+0.6 pp

Jun 2023+0.4 pp

Sep 2023+2.4 pp

Dec 2023+0.7 pp

Mar 2024+0.5 pp

Jun 2024+0.8 pp

Sep 2024+2.7 pp

Dec 2024+1.6 pp

Mar 2025+1.6 pp

Jun 2025−1.6 pp

Sep 2025+0.7 pp

Dec 2025+0.1 pp

Mar 2026−1.1 pp

Jun 2026—

TAL Education Group · TAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+8.4 pp

Dec 2022+1.3 pp

Mar 2023−1.1 pp

Jun 2023−0.9 pp

Sep 2023+0.5 pp

Dec 20230.0 pp

Mar 2024+0.8 pp

Jun 2024+1.1 pp

Sep 2024+0.4 pp

Dec 2024+0.4 pp

Mar 2025−0.1 pp

Jun 2025+0.8 pp

Sep 2025+1.3 pp

Dec 2025+2.8 pp

Mar 2026+2.2 pp

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−2.8 pp

Dec 2022−2.8 pp

Mar 2023+0.3 pp

Jun 2023−0.4 pp

Sep 2023+1.2 pp

Dec 2023+1.6 pp

Mar 2024+0.8 pp

Jun 2024+1.3 pp

Sep 2024+2.7 pp

Dec 2024+2.5 pp

Mar 2025+1.1 pp

Jun 2025+1.2 pp

Sep 2025−0.4 pp

Dec 2025−2.3 pp

Mar 2026−3.0 pp

Jun 2026—

07 · compare level, then change

Valuation Against Growth & Quality

Graham Holdings Company has the lowest Guarded PEG among the 20 Education & Training Services companies compared here, at 0.29×. Laureate Education, Inc. is next at 0.38×. Chegg, Inc. has the lowest P/E at 7.72×, so level and change sit with different companies. 12 of 20 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Graham Holdings Company has the lowest comparable Guarded PEG at 0.29×, 23.7% below Laureate Education, Inc.. Only 12 of 20 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderGraham Holdings Company · 0.29×

Gap23.7% versus #2 · Laureate Education, Inc.

Persistence0/8 recent comparable periods

Coverage12/20 companies · 56 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1Graham Holdings Company GHC0.3

2Laureate Education, Inc. LAUR0.4

3Universal Technical Institute, Inc. UTI0.5

4Strategic Education, Inc. STRA0.7

5Perdoceo Education Corporation PRDO0.9

P/Elowest P/E

1Chegg, Inc. CHGG7.7

2TAL Education Group TAL11.5

3Stride, Inc. LRN13.6

4Phoenix Education Partners, Inc. PXED14.1

5Perdoceo Education Corporation PRDO14.3

Valuation · company comparison

12/20 level · 17/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
New Oriental Education & Technology Group Inc. EDU	3.1	20.6	Mar 2026
Covista Inc. CVSA	2.9	18.0	Mar 2026
Grand Canyon Education, Inc. LOPE	1.9	21.3	Mar 2026
Franklin Covey Co. FC	1.8	139.5	Jun 2026
Lincoln Educational Services Corporation LINC	1.3	57.3	Mar 2026
Legacy Education Inc. LGCY	1.3	20.2	Mar 2026
Stride, Inc. LRN	1.0	13.6	Mar 2026
Perdoceo Education Corporation PRDO	0.9	14.3	Mar 2026
Strategic Education, Inc. STRA	0.7	14.7	Mar 2026
Universal Technical Institute, Inc. UTI	0.5	46.9	Mar 2026
Laureate Education, Inc. LAUR	0.4	18.3	Mar 2026
Graham Holdings Company GHC	0.3	15.7	Mar 2026
TAL Education Group TAL	—	11.5	Mar 2026
McGraw Hill, Inc. MH	—	72.1	Mar 2026
Phoenix Education Partners, Inc. PXED	—	14.1	Jun 2026
American Public Education, Inc. APEI	—	30.1	Mar 2026
Chegg, Inc. CHGG	—	7.7	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Covista Inc. · CVSA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.5

Jun 20240.4

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20250.4

Dec 20250.6

Mar 20262.9

Jun 2026—

Franklin Covey Co. · FC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20233.0

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20241.7

Sep 20240.6

Dec 20241.8

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Graham Holdings Company · GHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.3

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.3

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20232.0

Sep 20231.2

Dec 20231.0

Mar 20241.0

Jun 20241.0

Sep 20241.0

Dec 20241.5

Mar 20251.9

Jun 20251.9

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20230.3

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20250.4

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Legacy Education Inc. · LGCY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.3

Mar 20250.5

Jun 20251.3

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.6

Sep 20231.0

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20251.3

Dec 2025—

Mar 2026—

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.6

Dec 20240.9

Mar 20250.7

Jun 20251.2

Sep 2025—

Dec 2025—

Mar 20263.1

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.4

Sep 20230.2

Dec 20230.1

Mar 20240.1

Jun 20241.0

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20251.1

Sep 20250.9

Dec 20251.3

Mar 20260.9

Jun 2026—

Strategic Education, Inc. · STRA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20230.6

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20251.7

Jun 2025—

Sep 2025—

Dec 20250.9

Mar 20260.7

Jun 2026—

Stride, Inc. · LRN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.7

Jun 20230.7

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20240.3

Sep 20240.3

Dec 20240.3

Mar 20250.4

Jun 20250.8

Sep 20251.3

Dec 20251.0

Mar 2026—

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20250.5

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Covista Inc. · CVSA

Sep 2021—

Dec 2021109.5

Mar 2022—

Jun 20225.6

Sep 202232.0

Dec 202239.9

Mar 202320.8

Jun 202316.8

Sep 202318.3

Dec 202321.1

Mar 202419.3

Jun 202420.1

Sep 202417.3

Dec 202416.9

Mar 202516.7

Jun 202520.6

Sep 202523.2

Dec 202515.2

Mar 202618.0

Jun 2026—

Graham Holdings Company · GHC

Sep 20215.9

Dec 20218.9

Mar 20229.1

Jun 202218.6

Sep 202218.3

Dec 202220.0

Mar 2023119.9

Jun 202312.8

Sep 202317.7

Dec 202315.9

Mar 202412.7

Jun 202423.6

Sep 202416.1

Dec 20245.3

Mar 20256.7

Jun 20256.1

Sep 20257.0

Dec 202516.5

Mar 202615.7

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 202115.4

Dec 202114.5

Mar 202216.2

Jun 202216.6

Sep 202214.8

Dec 202218.4

Mar 202319.0

Jun 202316.8

Sep 202318.3

Dec 202319.4

Mar 202419.1

Jun 202419.0

Sep 202418.6

Dec 202421.2

Mar 202521.7

Jun 202522.9

Sep 202529.6

Dec 202521.6

Mar 202621.3

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 20217.3

Dec 202112.1

Mar 20229.6

Jun 20225.6

Sep 202232.0

Dec 202223.5

Mar 202322.6

Jun 202318.6

Sep 202320.4

Dec 202320.2

Mar 202418.2

Jun 202412.0

Sep 202410.5

Dec 20249.5

Mar 202510.9

Jun 202513.8

Sep 202523.0

Dec 202517.8

Mar 202618.3

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 20213.8

Dec 20217.2

Mar 20227.9

Jun 20227.5

Sep 20226.6

Dec 202216.1

Mar 202315.3

Jun 20237.2

Sep 20239.3

Dec 202311.8

Mar 202412.2

Jun 202445.6

Sep 202437.3

Dec 202449.4

Mar 202540.7

Jun 202550.1

Sep 202552.2

Dec 202537.7

Mar 202657.3

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 202672.1

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 20217.5

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202337.7

Sep 202331.9

Dec 202342.8

Mar 202449.2

Jun 202444.4

Sep 202425.6

Dec 202424.3

Mar 202520.2

Jun 202520.6

Sep 202521.1

Dec 202521.6

Mar 202620.6

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 20216.7

Dec 20217.6

Mar 20227.3

Jun 20227.5

Sep 20226.9

Dec 202210.0

Mar 20239.5

Jun 20236.6

Sep 20238.0

Dec 20238.1

Mar 20247.7

Jun 202410.5

Sep 202411.2

Dec 202412.1

Mar 202511.1

Jun 202514.2

Sep 202516.1

Dec 202512.1

Mar 202614.3

Jun 2026—

Strategic Education, Inc. · STRA

Sep 202143.0

Dec 202125.4

Mar 202230.5

Jun 202235.7

Sep 202229.7

Dec 202240.4

Mar 202357.6

Jun 202344.6

Sep 202336.9

Dec 202331.7

Mar 202424.7

Jun 202422.7

Sep 202417.6

Dec 202420.0

Mar 202517.9

Jun 202517.7

Sep 202517.9

Dec 202514.8

Mar 202614.7

Jun 2026—

Stride, Inc. · LRN

Sep 202128.3

Dec 202120.0

Mar 202217.1

Jun 202216.2

Sep 202219.6

Dec 202213.4

Mar 202315.0

Jun 202312.5

Sep 202312.5

Dec 202315.0

Mar 202414.8

Jun 202415.0

Sep 202415.5

Dec 202417.4

Mar 202519.7

Jun 202524.4

Sep 202523.0

Dec 20259.9

Mar 202613.6

Jun 2026—

TAL Education Group · TAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024131.1

Sep 202468.9

Dec 202451.4

Mar 202594.5

Jun 202559.0

Sep 202537.1

Dec 202522.8

Mar 202611.5

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 202139.8

Dec 202120.1

Mar 202215.0

Jun 202213.0

Sep 202214.3

Dec 202244.8

Mar 202392.3

Jun 2023172.8

Sep 202364.5

Dec 202348.2

Mar 202444.3

Jun 202431.5

Sep 202421.7

Dec 202426.5

Mar 202524.7

Jun 202529.7

Sep 202528.8

Dec 202526.9

Mar 202646.9

Jun 2026—

08 · compare level, then change

Enterprise Value & Book Value

Stride, Inc. has the lowest EV/EBITDA among the 20 Education & Training Services companies compared here, at 6.65×. Phoenix Education Partners, Inc. is next at 6.81×. KinderCare Learning Companies, Inc. has the lowest P/BV at 0.61×, so level and change sit with different companies. 18 of 20 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Stride, Inc. leads ev/ebitda at 6.65×; KinderCare Learning Companies, Inc. leads p/bv at 0.61×.

LeaderStride, Inc. · 6.65×

Gap2.3% versus #2 · Phoenix Education Partners, Inc.

Persistence0/8 recent comparable periods

Coverage18/20 companies · 257 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1Stride, Inc. LRN6.7

2Phoenix Education Partners, Inc. PXED6.8

3Perdoceo Education Corporation PRDO7.2

4Covista Inc. CVSA8.1

5TAL Education Group TAL8.4

P/BVlowest P/BV

1KinderCare Learning Companies, Inc. KLC0.6

2Chegg, Inc. CHGG0.7

3Graham Holdings Company GHC1.0

4Strategic Education, Inc. STRA1.2

5TAL Education Group TAL1.5

Enterprise and book valuation · company comparison

18/20 level · 18/20 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
Franklin Covey Co. FC	39.7	6.2	Jun 2026
Strategic Education, Inc. STRA	38.0	1.2	Mar 2026
American Public Education, Inc. APEI	29.7	3.4	Mar 2026
KinderCare Learning Companies, Inc. KLC	27.7	0.6	Jun 2026
Lincoln Educational Services Corporation LINC	26.3	6.5	Mar 2026
Universal Technical Institute, Inc. UTI	18.6	5.9	Mar 2026
Grand Canyon Education, Inc. LOPE	14.2	—	Mar 2026
Chegg, Inc. CHGG	13.9	0.7	Mar 2026
Legacy Education Inc. LGCY	12.9	3.2	Mar 2026
Graham Holdings Company GHC	10.5	1.0	Mar 2026
Laureate Education, Inc. LAUR	10.2	4.7	Mar 2026
New Oriental Education & Technology Group Inc. EDU	9.1	2.1	Mar 2026
McGraw Hill, Inc. MH	8.6	3.6	Mar 2026
TAL Education Group TAL	8.4	1.5	Mar 2026
Covista Inc. CVSA	8.1	2.9	Mar 2026
Perdoceo Education Corporation PRDO	7.2	2.3	Mar 2026
Phoenix Education Partners, Inc. PXED	6.8	3.4	Jun 2026
Stride, Inc. LRN	6.7	2.3	Mar 2026
Coursera, Inc. COUR	—	1.6	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Covista Inc. · CVSA

Sep 202118.9

Dec 202114.2

Mar 20228.5

Jun 20228.9

Sep 20227.2

Dec 20227.2

Mar 20236.9

Jun 20236.5

Sep 20237.8

Dec 20239.9

Mar 20248.6

Jun 20249.8

Sep 20249.6

Dec 202410.3

Mar 202510.0

Jun 20259.7

Sep 202511.2

Dec 20257.7

Mar 20268.1

Jun 2026—

Graham Holdings Company · GHC

Sep 20219.2

Dec 202110.5

Mar 20229.9

Jun 20229.6

Sep 20228.3

Dec 20228.1

Mar 20238.3

Jun 20237.5

Sep 20237.8

Dec 20239.6

Mar 20247.9

Jun 20247.0

Sep 20249.4

Dec 20248.6

Mar 20258.8

Jun 20258.9

Sep 202511.3

Dec 202511.5

Mar 202610.5

Jun 2026—

Grand Canyon Education, Inc. · LOPE

Sep 202112.1

Dec 20218.4

Mar 20229.9

Jun 20229.9

Sep 20229.1

Dec 202211.8

Mar 202312.8

Jun 202311.2

Sep 202312.7

Dec 202313.5

Mar 202413.2

Jun 202412.9

Sep 202412.6

Dec 202414.1

Mar 202515.1

Jun 202515.8

Sep 202520.4

Dec 202514.5

Mar 202614.2

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 20216.0

Dec 202110.4

Mar 20229.9

Jun 20228.0

Sep 20226.6

Dec 20225.8

Mar 20236.5

Jun 20236.0

Sep 20236.4

Dec 20236.0

Mar 202423.4

Jun 202422.9

Sep 20246.0

Dec 20246.3

Mar 20257.4

Jun 20257.9

Sep 202510.1

Dec 20259.6

Mar 202610.2

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 20216.5

Dec 20213.4

Mar 20224.9

Jun 20224.6

Sep 20224.2

Dec 20229.7

Mar 202310.4

Jun 20234.9

Sep 20237.2

Dec 20238.9

Mar 20249.5

Jun 202424.4

Sep 202421.0

Dec 202423.2

Mar 202520.9

Jun 202524.7

Sep 202523.6

Dec 202519.0

Mar 202626.3

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20258.0

Dec 20258.6

Mar 20268.6

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 2021—

Dec 2021—

Mar 20220.9

Jun 20221.5

Sep 2022—

Dec 2022—

Mar 202379.2

Jun 20239.2

Sep 202317.4

Dec 202328.5

Mar 202430.1

Jun 202420.4

Sep 202414.4

Dec 202413.5

Mar 202510.4

Jun 20257.0

Sep 20259.0

Dec 20258.6

Mar 20269.1

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 20211.9

Dec 20212.1

Mar 20222.0

Jun 20221.9

Sep 20221.3

Dec 20223.0

Mar 20232.8

Jun 20231.6

Sep 20233.1

Dec 20233.4

Mar 20243.2

Jun 20244.6

Sep 20244.6

Dec 20246.8

Mar 20255.7

Jun 20257.4

Sep 20258.2

Dec 20255.5

Mar 20267.2

Jun 2026—

Strategic Education, Inc. · STRA

Sep 202110.5

Dec 20218.3

Mar 202210.5

Jun 202212.6

Sep 202211.3

Dec 202214.6

Mar 202319.1

Jun 202315.4

Sep 202314.5

Dec 202314.8

Mar 202413.1

Jun 202412.6

Sep 202410.0

Dec 202411.2

Mar 20259.9

Jun 20259.8

Sep 20259.6

Dec 20258.1

Mar 202638.0

Jun 2026—

Stride, Inc. · LRN

Sep 202121.0

Dec 202119.3

Mar 20228.2

Jun 20227.8

Sep 202230.7

Dec 202221.7

Mar 20238.0

Jun 20236.6

Sep 20237.3

Dec 20238.5

Mar 20248.5

Jun 20248.0

Sep 20249.3

Dec 20249.8

Mar 202510.9

Jun 202512.4

Sep 202512.9

Dec 20255.2

Mar 20266.7

Jun 2026—

TAL Education Group · TAL

Sep 20210.1

Dec 20211.0

Mar 20224.4

Jun 20223.6

Sep 202214.1

Dec 202235.4

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20241,409.8

Mar 202593.1

Jun 2025101.0

Sep 202546.6

Dec 202518.4

Mar 20268.4

Jun 2026—

Universal Technical Institute, Inc. · UTI

Sep 20216.4

Dec 20216.5

Mar 20226.7

Jun 20226.1

Sep 20225.4

Dec 20229.5

Mar 20239.0

Jun 20238.5

Sep 20237.2

Dec 202311.0

Mar 202412.5

Jun 202411.2

Sep 20249.2

Dec 202412.2

Mar 202511.6

Jun 202514.2

Sep 202513.4

Dec 202512.0

Mar 202618.6

Jun 2026—

P/BV · reported quarter history

Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Coursera, Inc. · COUR

Sep 20215.9

Dec 20214.7

Mar 20224.6

Jun 20222.9

Sep 20222.2

Dec 20222.5

Mar 20232.5

Jun 20233.1

Sep 20234.6

Dec 20234.9

Mar 20243.6

Jun 20241.9

Sep 20242.1

Dec 20242.3

Mar 20251.7

Jun 20252.3

Sep 20253.0

Dec 20251.9

Mar 20261.6

Jun 2026—

Covista Inc. · CVSA

Sep 20211.5

Dec 20211.1

Mar 20220.9

Jun 20221.1

Sep 20221.1

Dec 20221.1

Mar 20231.1

Jun 20231.0

Sep 20231.3

Dec 20231.7

Mar 20241.5

Jun 20241.9

Sep 20242.1

Dec 20242.4

Mar 20252.6

Jun 20253.2

Sep 20253.9

Dec 20252.6

Mar 20262.9

Jun 2026—

Graham Holdings Company · GHC

Sep 20210.7

Dec 20210.7

Mar 20220.7

Jun 20220.6

Sep 20220.6

Dec 20220.8

Mar 20230.8

Jun 20230.7

Sep 20230.7

Dec 20230.8

Mar 20240.9

Jun 20240.8

Sep 20240.9

Dec 20240.9

Mar 20251.0

Jun 20251.0

Sep 20251.2

Dec 20251.0

Mar 20261.0

Jun 2026—

Laureate Education, Inc. · LAUR

Sep 20212.5

Dec 20211.9

Mar 20222.0

Jun 20221.9

Sep 20222.0

Dec 20222.0

Mar 20232.3

Jun 20232.0

Sep 20232.3

Dec 20232.3

Mar 20242.4

Jun 20242.5

Sep 20242.8

Dec 20242.9

Mar 20253.4

Jun 20253.3

Sep 20254.2

Dec 20254.1

Mar 20264.7

Jun 2026—

Lincoln Educational Services Corporation · LINC

Sep 20211.8

Dec 20211.3

Mar 20221.5

Jun 20221.3

Sep 20221.1

Dec 20221.2

Mar 20231.3

Jun 20231.4

Sep 20231.7

Dec 20231.9

Mar 20242.0

Jun 20242.3

Sep 20242.2

Dec 20242.8

Mar 20252.8

Jun 20254.0

Sep 20254.0

Dec 20253.8

Mar 20266.5

Jun 2026—

McGraw Hill, Inc. · MH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20253.0

Dec 20254.1

Mar 20263.6

Jun 2026—

New Oriental Education & Technology Group Inc. · EDU

Sep 20210.9

Dec 20210.9

Mar 20220.6

Jun 20220.6

Sep 20221.3

Dec 20221.4

Mar 20231.8

Jun 20231.7

Sep 20232.4

Dec 20233.5

Mar 20244.0

Jun 20243.5

Sep 20242.6

Dec 20242.6

Mar 20252.2

Jun 20252.0

Sep 20251.9

Dec 20252.1

Mar 20262.1

Jun 2026—

Perdoceo Education Corporation · PRDO

Sep 20211.2

Dec 20211.2

Mar 20221.2

Jun 20221.2

Sep 20221.0

Dec 20221.3

Mar 20231.2

Jun 20231.0

Sep 20231.4

Dec 20231.4

Mar 20241.3

Jun 20241.6

Sep 20241.6

Dec 20241.8

Mar 20251.7

Jun 20252.2

Sep 20252.4

Dec 20251.9

Mar 20262.3

Jun 2026—

Strategic Education, Inc. · STRA

Sep 20211.0

Dec 20210.8

Mar 20221.0

Jun 20221.1

Sep 20220.9

Dec 20221.2

Mar 20231.4

Jun 20231.0

Sep 20231.2

Dec 20231.4

Mar 20241.6

Jun 20241.6

Sep 20241.3

Dec 20241.4

Mar 20251.2

Jun 20251.2

Sep 20251.2

Dec 20251.1

Mar 20261.2

Jun 2026—

Stride, Inc. · LRN

Sep 20212.1

Dec 20211.9

Mar 20222.0

Jun 20222.2

Sep 20222.3

Dec 20221.6

Mar 20231.9

Jun 20231.7

Sep 20232.0

Dec 20232.5

Mar 20242.5

Jun 20242.6

Sep 20243.1

Dec 20243.4

Mar 20253.9

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TAL Education Group · TAL

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Universal Technical Institute, Inc. · UTI

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09 · let price answer last

Market action

Lincoln Educational Services Corporation has the strongest one-year price move in Education & Training Services at +82.6%. It also leads on Mansfield relative strength against the S&P 500 at +23.9%. 7 of 18 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Education & Training Services comparison names 4 specific ways its own evidence can mislead, all listed below. All 20 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

10 · the complete set

Which companies are included?

All 20 companies in the canonical Education & Training Services membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
New Oriental Education & Technology Group Inc. EDU	$8.1B	$50.8	2026-07-28	Mar 2026
TAL Education Group TAL	$5.8B	$10.4	2026-07-28	Mar 2026
Laureate Education, Inc. LAURAHEAD	$5.3B	$37.7	2026-07-28	Mar 2026
Graham Holdings Company GHC	$5.2B	$1,214	2026-07-28	Mar 2026
Covista Inc. CVSA18/26 WEEKS	$4.3B	$126	2026-07-28	Mar 2026
Stride, Inc. LRN	$4.0B	$95.9	2026-07-28	Mar 2026
Grand Canyon Education, Inc. LOPE	$3.9B	$150	2026-07-28	Mar 2026
Universal Technical Institute, Inc. UTI21/26 WEEKS	$2.2B	$39.1	2026-07-28	Mar 2026
McGraw Hill, Inc. MH	$2.1B	$11.0	2026-07-28	Mar 2026
Perdoceo Education Corporation PRDO	$2.1B	$32.8	2026-07-28	Mar 2026
Strategic Education, Inc. STRA	$1.8B	$81.4	2026-07-28	Mar 2026
Coursera, Inc. COUR	$1.7B	$5.9	2026-07-28	Mar 2026
Lincoln Educational Services Corporation LINC24/26 WEEKS	$1.3B	$42.1	2026-07-28	Mar 2026
Phoenix Education Partners, Inc. PXED	$1.1B	$30.0	2026-07-28	Jun 2026
American Public Education, Inc. APEI	$917M	$50.0	2026-07-28	Mar 2026
KinderCare Learning Companies, Inc. KLCAHEAD	$625M	$5.3	2026-07-28	Jun 2026
Franklin Covey Co. FC	$248M	$22.0	2026-07-28	Jun 2026
Legacy Education Inc. LGCY	$148M	$11.7	2026-07-28	Mar 2026
Neucleus Group Limited NEUC	$117M	—	—	—
Chegg, Inc. CHGG	$100M	$0.9	2026-07-24	Mar 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 20 Education & Training Services companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

Education & Training Services company comparison FAQs

These 18 answers restate the Education & Training Services comparison above in question form. Every one is computed from the same 20 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Education & Training Services company is the biggest?

New Oriental Education & Technology Group Inc. is the largest, with trailing-twelve-month revenue of $5,374 million, ahead of Graham Holdings Company at $4,982 million. That covers 17 of 20 companies with comparable reporting through Mar 2026.

Which Education & Training Services company is growing fastest?

TAL Education Group has the fastest revenue growth at 33.8% year on year, across 17 of 20 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Education & Training Services company has the best profit margins?

Grand Canyon Education, Inc. has the highest operating margin at 30.9%, from 19 of 20 comparable companies. Chegg, Inc. shows the biggest recent improvement, at +22.3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Education & Training Services company makes the most profit?

TAL Education Group earns the most, at $531 million of trailing-twelve-month net profit, from 17 of 20 comparable companies. Lincoln Educational Services Corporation has the fastest profit growth at 91.7%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Education & Training Services company earns the highest return on capital?

Neucleus Group Limited leads on return on capital employed at 156.9%, across 20 of 20 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Education & Training Services stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Graham Holdings Company screens cheapest at 0.29×. Only 12 of 20 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Education & Training Services company has the strongest balance sheet?

Coursera, Inc. carries the lowest comparable gross debt at $0 million, from 18 of 20 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Education & Training Services company is investing most in new capacity?

New Oriental Education & Technology Group Inc. reports the largest capital spending at $95 million, across 18 of 20 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Education & Training Services sector beating the market?

Education & Training Services has underperformed S&P 500 by 0.8% over the last 52 weeks and 9.3% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 7 of 18 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Education & Training Services stock has the strongest price momentum?

Lincoln Educational Services Corporation has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Education & Training Services company scores highest for research priority?

Lincoln Educational Services Corporation scores 59.7 out of 100 with 76% evidence confidence, from 25.1 points on growth and earnings, 8 on capital efficiency, 9.6 on valuation and 17 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Education & Training Services companies does this comparison cover, and over what period?

It compares 20 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Education & Training Services sector?

The 20 Education & Training Services companies on this page carry $51,019 million of combined market value. New Oriental Education & Technology Group Inc. is the largest at $8,083 million, about 16% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Education & Training Services sector's P/E ratio?

The median price-to-earnings ratio across the 20 Education & Training Services companies on this page is 18.3×, measured on the 17 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Education & Training Services sector performing?

7 of the 18 covered Education & Training Services companies are beating S&P 500 on Mansfield relative strength. The sector itself is 0.8% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Education & Training Services stocks are listed in the US?

This comparison covers 20 listed Education & Training Services companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.