Lincoln Educational Services Corporation
- Open
- 25.21
- Day high
- 25.55
- Day low
- 25.19
- Prev close
- 25.16
- Volume
- 24K
- Mkt cap
- $807M
- P/E (TTM)
- 34.4
- EPS (TTM)
- $0.73
- P/B
- 4.0
- P/S
- 1.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$8.8M over the last 3 months (0 open-market buys, 8 sales)
- 🏛Institutions accumulating (13F)
Lincoln Educational Services Corporation (LINC) is a Consumer Defensive company listed on NASDAQ. The stock is up 32% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 8 sales (SEC Form 4). Drillr has 1 published research article covering LINC.
Lincoln Educational Services Corporation (LINC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LINC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 10, 2026 | $0.00 | $0.06 | +7592.3% | $143M | +2.2% |
| May 11, 2026 | $0.04 | $0.14 | +250.0% | $144M | +6.1% |
| Aug 8, 2024 | $-0.06 | $0.06 | +199.9% | $103M | +2.3% |
| Feb 26, 2024 | $0.28 | $0.32 | +14.3% | $103M | +6.6% |
| Feb 27, 2023 | $0.26 | $0.27 | +3.8% | $92M | +2.3% |
| Feb 28, 2022 | $0.48 | $0.73 | +52.1% | $88M | +1.5% |
| Mar 3, 2021 | $0.25 | $0.31 | +24.0% | $82M | — |
| Nov 11, 2020 | $0.03 | $0.08 | +220.0% | $79M | +46.7% |
| Aug 11, 2020 | $-0.14 | $0.02 | +114.3% | $62M | -85.7% |
| May 13, 2020 | $-0.18 | $-0.08 | +55.6% | $70M | -54.2% |
| Feb 26, 2020 | $0.39 | $0.33 | -15.4% | $74M | -14.7% |
| Nov 14, 2019 | $0.09 | $0.04 | -55.6% | $73M | -43.2% |
LINC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 15, 2026 | Juniper Investment Company, LLCother: Affiliate | Sell | 11,812 | $47.87 |
| Jun 15, 2026 | Juniper Investment Company, LLCother: Affiliate | Sell | 37,000 | $46.88 |
| Jun 15, 2026 | LUSTER ALEXANDRA Mofficer: SVP and General Counsel | Sell | 18,007 | $44.64 |
| Jun 10, 2026 | Carney Kevin Mdirector | Sell | 3,000 | $48.00 |
| Jun 9, 2026 | LUSTER ALEXANDRA Mofficer: SVP and General Counsel | Sell | 1,993 | $50.11 |
| Jun 5, 2026 | Juniper Investment Company, LLCother: Affiliate | Sell | 81,504 | $50.10 |
| Jun 5, 2026 | Juniper Investment Company, LLCother: Affiliate | Sell | 25,208 | $51.13 |
| Jun 4, 2026 | Pryor Felecia J.director | Sell | 2,000 | $49.70 |
| May 27, 2026 | BURKE JAMES J JRdirector | Sell | 15,807 | $48.36 |
| May 18, 2026 | BURKE JAMES J JRdirector | Sell | 193 | $51.76 |
| May 18, 2026 | BURKE JAMES J JRdirector | Sell | 16,000 | $49.54 |
| May 18, 2026 | Juniper Investment Company, LLCother: Affiliate | Sell | 47,836 | $51.16 |
| May 18, 2026 | Juniper Investment Company, LLCother: Affiliate | Sell | 1,985 | $50.11 |
| May 13, 2026 | Meyers Brian Kofficer: CFO and Treasurer | Sell | 40,070 | $49.98 |
| May 8, 2026 | Rose Carltondirector | Grant | 2,495 | $44.10 |
Source: LINC SEC Form 4 filings, latest Jun 15, 2026. For informational purposes only — not investment advice.
See the full LINC insider & 13F page →Lincoln Educational Services Corporation company profile
Overview
Lincoln Educational Services Corporation (NASDAQ:LINC) is a for-profit educational institution founded in 1946 that provides career-oriented post-secondary education to high school graduates and working adults across the United States. The company operates 22 campuses in 14 states under various brand names including Lincoln Technical Institute, Lincoln College of Technology, and Lincoln Culinary Institute. With over 13,000 students enrolled as of recent reports, Lincoln has positioned itself as a leading provider of hands-on technical education focused on addressing the growing skills gap in American industries.
Business
Lincoln Educational Services operates in the for-profit career education sector, which serves as an alternative to traditional four-year colleges by providing focused, practical training for specific trades and professions. The company's educational model emphasizes hands-on learning and job-ready skills training, typically offering programs that can be completed in months rather than years. The company operates through two primary business segments. The Transportation and Skilled Trades segment represents the larger and faster-growing portion of the business, offering programs in automotive technology, welding, heating and air conditioning repair, electrical systems, and computerized numerical control (CNC) machining. This segment has experienced strong growth, with student starts increasing over 30% in recent periods. The Healthcare and Other Professions segment provides training in nursing, dental and medical assistance, medical administration, therapeutic massage, cosmetology, culinary arts, and information technology. While this segment has faced some challenges with declining starts in certain programs, it remains an important part of the company's offerings. Lincoln's educational approach centers around what they call the "Lincoln 10.0" hybrid teaching model, which combines traditional classroom instruction with digital learning components. This model allows for more flexible scheduling and improved operational efficiency while maintaining hands-on training essential for technical skills development. The company has been systematically rolling out this hybrid model across its campuses, with approximately 65% of students currently utilizing this approach.
Revenue model
Lincoln Educational Services generates revenue primarily through tuition and fees paid by students enrolled in its various certificate, diploma, and associate degree programs. The company's business model relies heavily on federal financial aid programs, as most students finance their education through Title IV federal student loans and grants. This creates a direct correlation between the company's revenue and federal education funding policies. The company's revenue streams include base tuition charges, which vary by program length and complexity, along with additional fees for materials, equipment usage, and specialized training modules. Corporate partnerships with companies like Tesla, Hyundai, and Container Maintenance Corporation provide additional revenue through customized workforce training programs and equipment partnerships that enhance the educational experience while generating incremental income. Several factors significantly impact Lincoln's profitability margins. Positive margin drivers include the implementation of the Lincoln 10.0 hybrid model, which improves instructor-to-student ratios and classroom utilization efficiency, leading to lower instructional costs per student. Strong job market demand for skilled trades workers supports pricing power and student enrollment growth. The company's focus on high-return programs and elimination of low-performing offerings like cosmetology and culinary programs also enhances margins. Negative margin pressures include regulatory changes affecting federal financial aid programs, which could impact student access to funding. Economic downturns that reduce job opportunities for graduates can hurt placement rates and damage the school's reputation. Rising labor costs for qualified instructors, particularly in specialized technical fields, represent an ongoing expense pressure. Additionally, the significant capital expenditures required for new campus openings and equipment updates create periodic margin compression during expansion phases.
Competitive moat
Lincoln Educational Services operates in a competitive educational market with limited sustainable competitive advantages. The company's primary moat stems from its regulatory compliance and accreditation status, which creates barriers to entry as new competitors must navigate complex federal and state educational regulations to access Title IV funding programs. This regulatory framework provides some protection from new entrants but does not shield the company from existing competitors. The company's corporate partnerships with major employers like Tesla, Hyundai, and various automotive manufacturers provide some differentiation through exclusive training programs and equipment access. These relationships offer students enhanced job placement opportunities and give Lincoln credibility with both students and employers. However, these partnerships are generally not exclusive and can be replicated by competitors. Lincoln's campus locations and physical infrastructure represent a modest competitive advantage, as the company has invested significantly in specialized equipment and facilities tailored to technical training. The cost and complexity of replicating these physical assets creates some barriers to competition, particularly for smaller players. However, the company's moat is relatively weak overall. The for-profit education sector faces intense competition from community colleges, which often offer similar programs at lower costs with taxpayer subsidies. Online education platforms and alternative credentialing programs pose growing threats to traditional campus-based models. The company's dependence on federal financial aid programs creates regulatory risk that could quickly erode any competitive advantages. Additionally, the cyclical nature of enrollment tied to economic conditions limits the durability of the company's market position.
Risks & safety
Lincoln Educational Services presents a moderate margin of safety profile with some concerning elements regarding cash flow and valuation metrics. • Liquidity and Solvency: The company maintains a solid cash position of $28.7 million with total liquidity exceeding $100 million. Current ratio of 1.04 indicates tight working capital management but adequate short-term liquidity. The company carries minimal debt with a debt-to-equity ratio of 0.99, providing financial flexibility. • Cash Flow Concerns: Free cash flow of -$28.3 million in Q1 2025 raises significant concerns, though this reflects heavy capital expenditure for expansion ($70-75 million annually). Operating cash flow of -$8.4 million indicates underlying operational cash generation challenges. • Valuation Metrics: Trading at 62.9x P/E ratio and 23.2x EV/EBITDA suggests expensive valuation relative to earnings. Price-to-book ratio of 2.75 indicates premium valuation to net assets. • Other Considerations: Heavy dependence on federal financial aid programs creates regulatory risk. Expansion phase requires significant capital investment, straining cash flows. Cyclical nature of enrollment tied to economic conditions adds volatility risk.
Recent development
Over the past few years, Lincoln Educational Services has undergone significant strategic transformation focused on growth and operational efficiency. The company's most significant innovation has been the development and implementation of the Lincoln 10.0 hybrid teaching model, which combines traditional hands-on instruction with digital learning components. This model has been deployed across approximately 65% of the student population and is expected to reach 95% by 2027, with nursing programs scheduled for transition in 2026. The company has pursued an aggressive campus expansion strategy, opening a new East Point campus in Atlanta that became profitable ahead of schedule. Lincoln has committed to opening multiple new campuses including locations in Nashville, Levittown (Philadelphia area), Houston, and Long Island, with plans for approximately one new campus per year. This expansion is part of a broader strategic goal to reach $550 million in revenue and $90 million in adjusted EBITDA by 2027. Lincoln has also focused on program optimization by expanding high-demand skilled trades programs while eliminating lower-return offerings. The company has been replicating successful programs across existing campuses and has made the strategic decision to exit programs like cosmetology, culinary arts, and massage therapy that generate lower returns on investment. Corporate partnerships have become increasingly important to Lincoln's strategy, with new or expanded relationships with major employers including Tesla, Hyundai, Genesis Motor, and Container Maintenance Corporation. These partnerships provide students with direct pathways to employment while generating additional revenue streams for Lincoln through customized training programs.
LINC company profile · for informational purposes only — not investment advice.
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