Lincoln Educational Services Corporation (LINC)

LINC Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	28.66	59.27	75.99	46.07	83.31	38.03
Short-Term Investments	-	-	-	14.76	-	-
Cash & Short-Term Investments	28.66	59.27	75.99	60.83	83.31	38.03
Cash Growth	-58.20%	-22.00%	24.92%	-26.98%	119.08%	60.83%
Receivables	47.28	42.98	35.69	37.18	26.16	30.02
Inventory	2.39	3.05	2.95	2.62	2.72	2.39
Prepaid Expenses	8.05	4.79	5.56	4.74	4.88	3.72
Restricted Cash	-	-	4.28	4.21	-	-
Other Current Assets	-	1.15	10.2	4.56	4.56	-
Total Current Assets	86.38	111.25	134.66	114.14	121.63	74.16
Property, Plant & Equipment	285.44	266.31	156.58	117.04	114.61	103.58
Goodwill	10.74	10.74	10.74	14.54	14.54	14.54
Long-Term Deferred Tax Assets	24.81	25.36	23.22	22.31	23.71	35.72
Long-Term Deferred Charges	0.36	0.32	-	-	-	-
Other Long-Term Assets	19.71	22.57	20.05	23.55	20.82	17.2
Total Assets	427.43	436.56	345.25	291.57	295.3	245.19
Accounts Payable	34.36	37.03	18.15	10.5	12.3	15.68
Accrued Expenses	8.85	11.99	13.68	8.65	15.67	16.69
Current Portion of Long-Term Debt	-	-	-	-	-	2
Current Portion of Leases	9.75	9.5	11.81	9.63	11.48	8.5
Current Income Taxes Payable	1.3	1.07	2.83	2.06	1.02	0.49
Current Unearned Revenue	28.85	30.63	26.91	24.15	25.41	-
Other Current Liabilities	-	-	0.03	0.03	0.02	23.48
Total Current Liabilities	83.1	90.21	73.41	55.02	65.88	66.84
Long-Term Debt	-	-	-	-	-	15.91
Long-Term Leases	166.55	168.06	104.98	91	86.41	52.7
Other Long-Term Liabilities	-	0.02	0.06	-	-	2.43
Total Liabilities	249.65	258.29	178.45	146.69	153.9	142.14
Common Stock	48.18	48.18	48.18	49.07	141.38	141.38
Additional Paid-In Capital	48.21	50.64	49.38	45.54	32.44	30.51
Retained Earnings	81.11	79.17	69.28	51.23	39.7	6.2
Treasury Stock	-	-	-	-	-82.86	-82.86
Comprehensive Income & Other	0.27	0.27	-0.04	-0.96	-1.24	-4.17
Total Common Equity	177.78	178.26	166.8	144.88	129.42	91.07
Shareholders' Equity	177.78	178.26	166.8	144.88	141.4	103.05
Total Liabilities & Equity	427.43	436.56	345.25	291.57	295.3	245.19
Total Debt	176.3	177.56	116.79	100.63	97.89	79.12
Net Cash (Debt)	-147.65	-118.29	-40.79	-39.8	-14.58	-41.09
Net Cash Per Share	-4.75	-3.83	-1.34	-1.54	-0.58	-1.66
Filing Date Shares Outstanding	31.59	31.59	31.76	31.51	27.45	26.99
Total Common Shares Outstanding	31.59	31.46	31.36	31.15	27	26.48
Working Capital	3.28	21.04	61.25	59.12	55.75	7.32
Book Value Per Share	5.63	5.67	5.32	4.65	4.79	3.44
Tangible Book Value	167.04	167.52	156.06	130.34	114.88	76.53
Tangible Book Value Per Share	5.29	5.32	4.98	4.18	4.25	2.89
Land	0.05	0.05	0.05	0.05	0.65	6.97
Buildings	123.76	104.08	101.54	86.03	88.06	134.53
Machinery	94	85.91	81.81	83.34	86.19	82.87
Construction In Progress	52.09	54.76	7.62	0.89	1.56	0.33

Updated May 12, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q