Latest Ratios: P/E Ratio 15.2x · EV/EBITDA 7.6x · ROE 21.7%. (2005–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.8B | $7.0B | $3.1B | $1.6B | $1.7B | $1.3B | $1.1B | $1.2B | $665M | $708M | $485M |
| Enterprise Value | $3.6B | $6.8B | $3.1B | $1.7B | $1.9B | $1.4B | $1.1B | $987M | $460M | $499M | $294M |
| P/E Ratio → | 15.17 | 24.40 | 15.03 | 12.54 | 16.19 | 18.79 | 45.40 | 33.42 | 24.07 | 1792.00 | 54.30 |
| P/S Ratio | 1.60 | 2.92 | 1.50 | 0.87 | 1.03 | 0.88 | 1.06 | 1.23 | 0.72 | 0.80 | 0.56 |
| P/B Ratio | 2.95 | 4.75 | 2.61 | 1.68 | 2.13 | 1.67 | 1.64 | 1.97 | 1.13 | 1.23 | 0.87 |
| P/FCF | 10.31 | 18.85 | 14.13 | 11.65 | 12.43 | 16.43 | 31.27 | 13.36 | 10.69 | 17.48 | 8.24 |
| P/OCF | 8.88 | 16.24 | 11.01 | 7.83 | 8.37 | 10.03 | 13.77 | 8.79 | 6.31 | 7.98 | 3.98 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.83 | 1.52 | 0.94 | 1.13 | 0.93 | 1.09 | 0.97 | 0.50 | 0.56 | 0.34 |
| EV / EBITDA | 7.61 | 14.32 | 8.62 | 6.25 | 7.49 | 7.11 | 10.81 | 8.44 | 4.56 | 5.71 | 3.58 |
| EV / EBIT | 10.03 | 17.26 | 11.20 | 9.53 | 12.28 | 12.58 | 34.83 | 21.69 | 18.01 | 38.00 | 21.16 |
| EV / FCF | — | 18.23 | 14.26 | 12.62 | 13.70 | 17.41 | 31.92 | 10.59 | 7.39 | 12.32 | 5.00 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.2% | 39.2% | 37.4% | 35.2% | 35.4% | 34.8% | 33.4% | 34.7% | 35.4% | 37.3% | 37.4% |
| Operating Margin | 15.0% | 15.0% | 12.2% | 9.0% | 9.3% | 7.2% | 3.1% | 4.5% | 2.8% | 1.5% | 1.6% |
| Net Profit Margin | 12.0% | 12.0% | 10.0% | 6.9% | 6.4% | 4.6% | 2.4% | 3.7% | 3.0% | 0.1% | 1.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.7% | 21.7% | 19.2% | 14.4% | 13.2% | 9.7% | 3.7% | 6.1% | 4.8% | 0.1% | 1.6% |
| ROA | 13.7% | 13.7% | 11.1% | 7.5% | 6.7% | 5.4% | 2.6% | 4.8% | 3.7% | 0.1% | 1.3% |
| ROIC | 22.0% | 22.0% | 16.4% | 12.0% | 12.5% | 10.5% | 4.5% | 9.0% | 5.1% | 2.7% | 2.8% |
| ROCE | 19.6% | 19.6% | 16.0% | 11.9% | 12.0% | 10.7% | 4.4% | 7.1% | 4.1% | 2.1% | 2.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.37 | 0.37 | 0.45 | 0.57 | 0.70 | 0.58 | 0.35 | 0.04 | 0.04 | 0.04 | 0.04 |
| Debt / EBITDA | 1.16 | 1.16 | 1.47 | 1.97 | 2.22 | 2.33 | 2.25 | 0.21 | 0.26 | 0.25 | 0.28 |
| Net Debt / Equity | — | -0.16 | 0.02 | 0.14 | 0.22 | 0.10 | 0.03 | -0.41 | -0.35 | -0.36 | -0.34 |
| Net Debt / EBITDA | -0.49 | -0.49 | 0.08 | 0.48 | 0.69 | 0.40 | 0.22 | -2.21 | -2.03 | -2.39 | -2.32 |
| Debt / FCF | — | -0.62 | 0.13 | 0.97 | 1.27 | 0.98 | 0.65 | -2.77 | -3.30 | -5.16 | -3.24 |
| Interest Coverage | 37.48 | 37.48 | 31.38 | 21.53 | 18.77 | 6.30 | — | — | — | — | 22.55 |
Net cash position: cash ($782M) exceeds total debt ($550M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.39 | 5.39 | 5.10 | 3.45 | 3.15 | 2.80 | 1.83 | 3.40 | 3.91 | 4.02 | 3.62 |
| Quick Ratio | 5.27 | 5.27 | 4.95 | 3.33 | 3.03 | 2.67 | 1.73 | 3.21 | 3.68 | 3.76 | 3.38 |
| Cash Ratio | 3.25 | 3.25 | 2.83 | 1.69 | 1.29 | 1.26 | 0.78 | 1.82 | 1.99 | 1.96 | 1.74 |
| Asset Turnover | — | 1.05 | 1.06 | 1.04 | 1.03 | 0.97 | 0.97 | 1.24 | 1.24 | 1.21 | 1.19 |
| Inventory Turnover | 38.90 | 38.90 | 34.74 | 32.42 | 30.28 | 25.24 | 24.50 | 22.15 | 22.86 | 18.27 | 17.84 |
| Days Sales Outstanding | — | 84.92 | 84.58 | 92.12 | 90.58 | 87.71 | 82.81 | 68.86 | 70.13 | 78.96 | 70.91 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 4.1% | 6.7% | 8.0% | 6.2% | 5.3% | 2.2% | 3.0% | 4.2% | 0.1% | 1.8% |
| FCF Yield | 9.7% | 5.3% | 7.1% | 8.6% | 8.0% | 6.1% | 3.2% | 7.5% | 9.4% | 5.7% | 12.1% |
| Buyback Yield | 0.6% | 0.3% | 0.3% | 0.9% | 2.2% | 0.7% | 0.0% | 0.8% | 4.1% | 0.9% | 0.7% |
| Total Shareholder Yield | 0.6% | 0.3% | 0.3% | 0.9% | 2.2% | 0.7% | 0.0% | 0.8% | 4.1% | 0.9% | 0.7% |
| Shares Outstanding | — | $48M | $44M | $43M | $42M | $42M | $41M | $41M | $41M | $40M | $39M |
Regulatory funding dependency
As reported in recent financial data, Stride trades at a forward P/E of 12.41, which appears to discount the company's decelerating growth trajectory relative to peers like Grand Canyon Education, which commands a significantly higher multiple despite similar exposure to the education services sector.
The current PEG ratio of 0.25 suggests that the market may be pricing in a substantial slowdown in earnings growth, potentially over-penalizing the stock for its reliance on state-level funding. Investors should monitor whether the Career Learning segment can achieve sufficient scale to justify a valuation re-rating toward pure-play SaaS multiples.
Based on historical figures, Stride's ROIC has fluctuated between 2.7% and 7.0% over the last ten quarters, indicating that the company is currently struggling to consistently generate returns that meaningfully exceed its cost of capital in a highly competitive and regulated educational landscape.
The volatility in ROIC appears driven by the integration of recent acquisitions and the high fixed-cost nature of the virtual schooling platform. Sustained improvement in this metric will likely require the Career Learning segment to demonstrate higher margin contribution than the legacy K-12 business.
According to recent quarterly filings, the company's cash conversion cycle has remained elevated, peaking at 117 days in 2026Q3, which highlights the structural friction inherent in managing state-funded enrollment cycles and the associated delays in revenue realization compared to traditional service-based business models.
The high DSO, which reached 123 days in the most recent quarter, suggests that Stride remains heavily dependent on the timing of state disbursements. This inefficiency warrants further investigation into whether the company can optimize its billing processes or if this is a permanent feature of the public-sector education market.
As reported in financial statements, Stride has successfully reduced its debt-to-equity ratio to 0.33 as of 2026Q3, providing a robust balance sheet that offers significant protection against potential regulatory shocks or downturns in state-level education funding that could otherwise threaten more highly levered competitors.
The company's interest coverage ratio, which remains comfortably above 40x, indicates that debt service is not a material risk to operations. This conservative capital structure appears to be a strategic choice, allowing management to maintain a large cash cushion for potential M&A or to navigate periods of seasonal cash flow volatility.
Based on industry analysis, the P/E ratio is frequently misapplied to Stride, as it obscures the significant impact of seasonal working capital swings and non-cash amortization charges that distort the company's true underlying earnings power throughout the academic year.
Investors should instead focus on EV/EBITDA or free cash flow yield to better capture the company's operational performance, as these metrics are less sensitive to the accounting nuances of state-funded revenue recognition. Relying solely on P/E may lead to an incomplete assessment of the company's ability to generate cash during the off-peak summer months.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying LRN stock.
Stride, Inc.'s current P/E ratio is 15.2x. The historical average is 36.1x. This places it at the 12th percentile of its historical range.
Stride, Inc.'s current EV/EBITDA is 7.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.0x.
Stride, Inc.'s return on equity (ROE) is 21.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.3%.
Based on historical data, Stride, Inc. is trading at a P/E of 15.2x. This is at the 12th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Stride, Inc. has 39.2% gross margin and 15.0% operating margin. Operating margin between 10-20% is typical for established companies.
Stride, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.