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38.69 (1y: +31%)
Market Cap 676.21 M P/E(ttm) 15.50
Enterprise Value 555.66 M P/B 4.00
APEI- NAS (USA)
American Public Education, Inc.
Not Rated
Top Ranked Predictable Companies
$38.69
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 10/10

vs
industry		 vs
history
Cash to Debt No Debt
APEI's Cash to Debt is ranked higher than
78% of the 83 Companies
in the Global Education & Training Services industry.

( Industry Median: 3.80 vs. APEI: No Debt )
APEI' s 10-Year Cash to Debt Range
Min: 5.92   Max: No Debt
Current: No Debt
Equity to Asset 0.72
APEI's Equity to Asset is ranked higher than
73% of the 75 Companies
in the Global Education & Training Services industry.

( Industry Median: 0.54 vs. APEI: 0.72 )
APEI' s 10-Year Equity to Asset Range
Min: -0.06   Max: 0.72
Current: 0.72
-0.06
0.72
Interest Coverage No Debt
APEI's Interest Coverage is ranked higher than
58% of the 67 Companies
in the Global Education & Training Services industry.

( Industry Median: 424.70 vs. APEI: No Debt )
APEI' s 10-Year Interest Coverage Range
Min: No Debt   Max: No Debt
Current: No Debt
F-Score: 6
Z-Score: 8.88
M-Score: 1.52
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry		 vs
history
Operating margin (%) 21.90
APEI's Operating margin (%) is ranked higher than
77% of the 61 Companies
in the Global Education & Training Services industry.

( Industry Median: 13.90 vs. APEI: 21.90 )
APEI' s 10-Year Operating margin (%) Range
Min: 7.3   Max: 26.8
Current: 21.9
7.3
26.8
Net-margin (%) 13.5
APEI's Net-margin (%) is ranked higher than
68% of the 60 Companies
in the Global Education & Training Services industry.

( Industry Median: 8.60 vs. APEI: 13.5 )
APEI' s 10-Year Net-margin (%) Range
Min: 1.2   Max: 16.1
Current: 13.5
1.2
16.1
ROE (%) 24.7
APEI's ROE (%) is ranked higher than
83% of the 60 Companies
in the Global Education & Training Services industry.

( Industry Median: 10.50 vs. APEI: 24.7 )
APEI' s 10-Year ROE (%) Range
Min: 7.5   Max: 30.7
Current: 24.7
7.5
30.7
ROA (%) 17.8
APEI's ROA (%) is ranked higher than
92% of the 60 Companies
in the Global Education & Training Services industry.

( Industry Median: 7.40 vs. APEI: 17.8 )
APEI' s 10-Year ROA (%) Range
Min: 1.8   Max: 21.1
Current: 17.8
1.8
21.1
ROC (Joel Greenblatt) (%) 127.50
APEI's ROC (Joel Greenblatt) (%) is ranked higher than
83% of the 48 Companies
in the Global Education & Training Services industry.

( Industry Median: 36.80 vs. APEI: 127.50 )
APEI' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 22.8   Max: 404.9
Current: 127.5
22.8
404.9
Revenue Growth (%) 21.9
APEI's Revenue Growth (%) is ranked higher than
84% of the 31 Companies
in the Global Education & Training Services industry.

( Industry Median: 10.90 vs. APEI: 21.9 )
APEI' s 10-Year Revenue Growth (%) Range
Min: 0   Max: 25.8
Current: 21.9
0
25.8
EBITDA Growth (%) 16.7
APEI's EBITDA Growth (%) is ranked higher than
50% of the 22 Companies
in the Global Education & Training Services industry.

( Industry Median: 15.80 vs. APEI: 16.7 )
APEI' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 56.3
Current: 16.7
0
56.3
EPS Growth (%) 16.6
APEI's EPS Growth (%) is ranked lower than
53% of the 17 Companies
in the Global Education & Training Services industry.

( Industry Median: 16.60 vs. APEI: 16.6 )
APEI' s 10-Year EPS Growth (%) Range
Min: 16.6   Max: 70.6
Current: 16.6
16.6
70.6
» APEI's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

APEI Guru Trades in Q2 2012

Joel Greenblatt 58,960 sh (+86.56%)
Jim Simons 392,100 sh (+26.24%)
Ruane Cunniff 20,745 sh (unchged)
Steven Cohen Sold Out
Paul Tudor Jones Sold Out
» More
Q3 2012

APEI Guru Trades in Q3 2012

Ruane Cunniff 20,745 sh (unchged)
Joel Greenblatt Sold Out
Jim Simons 271,200 sh (-30.83%)
» More
Q4 2012

APEI Guru Trades in Q4 2012

Chuck Royce 81,800 sh (New)
Ruane Cunniff 20,745 sh (unchged)
Jim Simons 197,000 sh (-27.36%)
» More
Q1 2013

APEI Guru Trades in Q1 2013

Paul Tudor Jones 21,500 sh (New)
Joel Greenblatt 6,339 sh (New)
Private Capital 162,546 sh (New)
Pioneer Investments 60,000 sh (New)
Chuck Royce 173,300 sh (+111.86%)
Ruane Cunniff 20,745 sh (unchged)
Jim Simons 144,700 sh (-26.55%)
» More
» Details

Insider Trades

Latest Guru Trades with APEI

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2013-03-31 New Buy0.01%$30.1 - $41.49 $ 38.696%6339
Joel Greenblatt 2012-09-30 Sold Out 0.14%$25.08 - $38.99 $ 38.6920%0
Joel Greenblatt 2012-06-30 Add 86.56%0.06%$27.3 - $39.52 $ 38.6921%58960
Joel Greenblatt 2012-03-31 Add 69.9%0.04%$37.3 - $45.29 $ 38.692%31604
Ruane Cunniff 2011-12-31 Reduce -74.84%0.02%$30.92 - $45.1 $ 38.694%20745
Joel Greenblatt 2011-12-31 Add 30.19%0.02%$30.92 - $45.1 $ 38.694%18602
Joel Greenblatt 2011-09-30 New Buy0.08%$34.05 - $49 $ 38.69-8%14288
Mario Gabelli 2011-09-30 Sold Out 0.0017%$34.05 - $49 $ 38.69-8%0
Joel Greenblatt 2011-06-30 Sold Out 0.07%$40.37 - $45.19 $ 38.69-9%0
Joel Greenblatt 2011-03-31 New Buy0.07%$33.56 - $43.485 $ 38.690%6096
Mario Gabelli 2011-03-31 Reduce -30.49%$33.56 - $43.485 $ 38.690%5700
Ruane Cunniff 2010-12-31 Reduce -38.51%0.02%$26.32 - $37.25 $ 38.6917%82700
Lee Ainslie 2010-09-30 Sold Out 0.21%$24.56 - $46.03 $ 38.6915%0
Ron Baron 2010-09-30 Sold Out 0.11%$24.56 - $46.03 $ 38.6915%0
Ruane Cunniff 2010-09-30 New Buy0.05%$24.56 - $46.03 $ 38.6915%134500
Mario Gabelli 2010-09-30 New Buy$24.56 - $46.03 $ 38.6915%8400
Lee Ainslie 2010-06-30 Reduce -49.25%0.1%$40.35 - $48 $ 38.69-14%379480
Ron Baron 2010-03-31 Reduce -35%0.04%$33.86 - $46.91 $ 38.69-5%325000
Premium More recent guru trades are included for Premium Members only!!

Ratios

vs
industry		 vs
history
P/E(ttm) 15.50
APEI's P/E(ttm) is ranked higher than
58% of the 62 Companies
in the Global Education & Training Services industry.

( Industry Median: 16.60 vs. APEI: 15.50 )
APEI' s 10-Year P/E(ttm) Range
Min: 11.09   Max: 65.45
Current: 15.5
11.09
65.45
P/B 4.00
APEI's P/B is ranked lower than
87% of the 79 Companies
in the Global Education & Training Services industry.

( Industry Median: 1.40 vs. APEI: 4.00 )
APEI' s 10-Year P/B Range
Min: 3.03   Max: 21.6
Current: 4
3.03
21.6
P/S 2.16
APEI's P/S is ranked lower than
76% of the 85 Companies
in the Global Education & Training Services industry.

( Industry Median: 1.00 vs. APEI: 2.16 )
APEI' s 10-Year P/S Range
Min: 1.61   Max: 9.4
Current: 2.16
1.61
9.4
PFCF 29.00
APEI's PFCF is ranked lower than
83% of the 59 Companies
in the Global Education & Training Services industry.

( Industry Median: 16.00 vs. APEI: 29.00 )
APEI' s 10-Year PFCF Range
Min: 8.82   Max: 86.12
Current: 29
8.82
86.12
EV-to-EBIT 7.9
APEI's EV-to-EBIT is ranked higher than
60% of the 68 Companies
in the Global Education & Training Services industry.

( Industry Median: 11.60 vs. APEI: 7.9 )
APEI' s 10-Year EV-to-EBIT Range
Min: 5.4   Max: 47.4
Current: 7.9
5.4
47.4
PEG 0.5
APEI's PEG is ranked higher than
76% of the 21 Companies
in the Global Education & Training Services industry.

( Industry Median: 0.80 vs. APEI: 0.5 )
APEI' s 10-Year PEG Range
Min: 0.22   Max: 2.64
Current: 0.5
0.22
2.64
Shiller P/E 21.2
APEI's Shiller P/E is ranked lower than
100% of the Companies
in the Global Education & Training Services industry.

( Industry Median: vs. APEI: 21.2 )
APEI' s 10-Year Shiller P/E Range
Min: 14.98   Max: 42.77
Current: 21.2
14.98
42.77

Valuation & Return

vs
industry		 vs
history
Price/Net Cash 14.2
APEI's Price/Net Cash is ranked lower than
96% of the 23 Companies
in the Global Education & Training Services industry.

( Industry Median: 5.10 vs. APEI: 14.2 )
APEI' s 10-Year Price/Net Cash Range
Min: 13.4   Max: 49.7
Current: 14.2
13.4
49.7
Price/Net Current Asset Value 48.4
APEI's Price/Net Current Asset Value is ranked lower than
73% of the 64 Companies
in the Global Education & Training Services industry.

( Industry Median: 16.40 vs. APEI: 48.4 )
APEI' s 10-Year Price/Net Current Asset Value Range
Min: 45.7   Max: 107.1
Current: 48.4
45.7
107.1
Price/Tangible Book 4
APEI's Price/Tangible Book is ranked lower than
78% of the 73 Companies
in the Global Education & Training Services industry.

( Industry Median: 1.80 vs. APEI: 4 )
APEI' s 10-Year Price/Tangible Book Range
Min: 3.8   Max: 17
Current: 4
3.8
17
Price/DCF (Projected) 1.3
APEI's Price/DCF (Projected) is ranked lower than
66% of the 29 Companies
in the Global Education & Training Services industry.

( Industry Median: 0.80 vs. APEI: 1.3 )
APEI' s 10-Year Price/DCF (Projected) Range
Min: 1.3   Max: 2.5
Current: 1.3
1.3
2.5
Price/Median PS Value 0.6
APEI's Price/Median PS Value is ranked higher than
67% of the 79 Companies
in the Global Education & Training Services industry.

( Industry Median: 1.00 vs. APEI: 0.6 )
APEI' s 10-Year Price/Median PS Value Range
Min: 0.6   Max: 1.8
Current: 0.6
0.6
1.8
Price/Peter Lynch Fair Value 0.6
APEI's Price/Peter Lynch Fair Value is ranked higher than
89% of the 18 Companies
in the Global Education & Training Services industry.

( Industry Median: 1.00 vs. APEI: 0.6 )
APEI' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.6   Max: 2.5
Current: 0.6
0.6
2.5
Price/Graham Number 1.7
APEI's Price/Graham Number is ranked lower than
65% of the 57 Companies
in the Global Education & Training Services industry.

( Industry Median: 1.20 vs. APEI: 1.7 )
APEI' s 10-Year Price/Graham Number Range
Min: 1.6   Max: 7
Current: 1.7
1.6
7
Earnings Yield (Greenblatt) 12.60
APEI's Earnings Yield (Greenblatt) is ranked higher than
60% of the 73 Companies
in the Global Education & Training Services industry.

( Industry Median: 9.80 vs. APEI: 12.60 )
APEI' s 10-Year Earnings Yield (Greenblatt) Range
Min: 2.1   Max: 18.4
Current: 12.6
2.1
18.4
Forward Rate of Return (Yacktman) 32.43
APEI's Forward Rate of Return (Yacktman) is ranked higher than
78% of the 32 Companies
in the Global Education & Training Services industry.

( Industry Median: 19.47 vs. APEI: 32.43 )
APEI' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 11.4   Max: 83.4
Current: 32.43
11.4
83.4

Business Description

American Public Education, Inc. was founded as American Military University in 1991 and began offering courses in January 1993. The Company is a provider of online postsecondary education with an emphasis on serving the needs of the military and public service communities. It operates through two universities, American Military University, or AMU, and American Public University, or APU, which together constitute the American Public University System. The Company's universities share a common faculty and curriculum, which includes 87 degree programs and 69 certificate programs in disciplines related to national security, military studies, intelligence, homeland security, criminal justice, technology, business administration, education and liberal arts. It currently serves over 110,000 students living in all 50 states, the District of Columbia, and many foreign countries. Its university system is regionally and nationally accredited. Its programs are generally designed to help these and other students advance in their current professions or prepare for their next career. Its online method of instruction is well-suited to its students, many of whom serve in positions requiring extended and irregular schedules, are on-call for rapid response missions, participate in extended deployments and exercises, travel or relocate frequently, and have limited financial resources. As of December 31, 2011, it had approximately 315 full-time and over 1,475 adjunct faculties. It have invested significant capital and resources in developing proprietary information systems and processes to support what it refer to as Partnership At a Distance, or PAD. The PAD system allows prospective and current students to interact with it exclusively online, on their schedule. The PAD system also allows it to manage, in an automated and cost-effective manner, the complex administration required to offer monthly starts for over 2,230 classes in over 1,020 unique courses each month to its approximately 110,000 students taught by over 1,790 faculty members. The Company competes with not-for-profit public and private two-year and four-year colleges as well as other for-profit schools, particularly those that offer online learning programs. The Company is subject to extensive regulation by state regulatory bodies, accrediting agencies recognized by the U.S. Secretary of Education, the federal government through the U.S. Department of Education and under the Higher Education Act of 1965, as amended, or the Higher Education Act, the Department of Veterans Affairs, and the Department of Defense.
Company Website
SEC Reports
Industry: Education & Training Services
Compare:APOL, CECO, DV, STRA, COCO, CPLA
Traded in other countries:51A.Germany
» More Articles for APEI

Headlines

Articles On GuruFocus.com
Capella Education Corp. – Long with Base Case Target Price: $50 Apr 17 2013 
5 of the Fastest-Growing and Value-Creating Business Services Stocks Oct 19 2011 
The Hedge Fund Manager That Gave Back Fees Oct 17 2011 
Attack on the For-Profit Education Industry: APOL, APEI, COCO, STRA, ESI, BPI Jul 21 2011 
AMERICAN PUBLIC EDUCATION, INC. (APEI) President and CEO Wallace E. Jr. Boston sells 5,000 Shares Mar 18 2011 
Ruane Cunniff Buys VRX, EOG, APOL, CNQ, INT, VALV, Sells CHK, JNJ, APEI, PGR, LBTYA, JOBS, CACC Feb 18 2011 
AMERICAN PUBLIC EDUCATION, INC. Reports Operating Results (10-K) Feb 18 2011 
AMERICAN PUBLIC EDUCATION, INC. Reports Operating Results (10-Q) Nov 08 2010 
Which Are the Best Companies in the Education Industry? Sep 27 2010 
American Public Education - APEI Sep 19 2010 

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