American Public Education (APEI) Operating Expenses (2016 - 2026)
Quarterly Operating Expenses rose 0.52% to $153.1 million in Q1 2026 from the year-ago period, while the trailing twelve-month figure was $601.7 million through Mar 2026, up 1.21% year-over-year, with the annual reading at $600.9 million for FY2025, 1.59% up from the prior year.
American Public Education's Operating Expenses history spans 18 years, with the latest figure at $153.1 million for Q1 2026.
- Operating Expenses came in at $153.1 million for Q1 2026, up from $139.4 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $290.9 million in Q2 2022 to a low of $136.9 million in Q4 2023.
- The 5-year median for Operating Expenses is $150.7 million (2024), against an average of $161.1 million.
- Year-over-year, Operating Expenses soared 282.52% in 2022 and then fell 29.09% in 2024.
- American Public Education's Operating Expenses stood at $152.7 million in 2022, then fell by 10.37% to $136.9 million in 2023, then rose by 4.17% to $142.6 million in 2024, then dropped by 2.25% to $139.4 million in 2025, then increased by 9.85% to $153.1 million in 2026.
- Per Business Quant, the three most recent readings for APEI's Operating Expenses are $153.1 million (Q1 2026), $139.4 million (Q4 2025), and $153.5 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | 51Talk Online Education | 9.59 Bn | 9.55 Bn | 22.18 Mn | -27.37 Mn |
| 2 | Graham Holdings | 4.73 Bn | 3.72 Bn | 841.00 Mn | 1.18 Bn |
| 3 | Laureate Education | 4.69 Bn | 4.53 Bn | -16.39 Mn | 11.13 Mn |
| 4 | Grand Canyon Education | 4.19 Bn | 3.94 Bn | 244.77 Mn | 213.30 Mn |
| 5 | Stride | 3.77 Bn | 2.96 Bn | 231.57 Mn | 102.49 Mn |
| 6 | Perdoceo Education | 2.11 Bn | 1.43 Bn | 174.68 Mn | 158.62 Mn |
| 7 | Universal Technical Institute | 2.01 Bn | 1.84 Bn | 103.97 Mn | 221.06 Mn |
| 8 | Strategic Education | 1.71 Bn | 1.55 Bn | - | 154.77 Mn |
| 9 | Lincoln Educational Services | 1.46 Bn | 1.44 Bn | 120.06 Mn | 137.55 Mn |
| 10 | American Public Education | 943.17 Mn | 722.17 Mn | 100.11 Mn | 153.10 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 153.10 Mn |
| Dec 31, 2025 | 139.36 Mn |
| Sep 30, 2025 | 153.52 Mn |
| Jun 30, 2025 | 155.74 Mn |
| Mar 31, 2025 | 152.31 Mn |
| Dec 31, 2024 | 142.58 Mn |
| Sep 30, 2024 | 148.99 Mn |
| Jun 30, 2024 | 150.68 Mn |
| Mar 31, 2024 | 149.25 Mn |
| Dec 31, 2023 | 136.87 Mn |
| Sep 30, 2023 | 144.44 Mn |
| Jun 30, 2023 | 212.48 Mn |
| Mar 31, 2023 | 155.06 Mn |
| Dec 31, 2022 | 152.70 Mn |
| Sep 30, 2022 | 150.56 Mn |
| Jun 30, 2022 | 290.87 Mn |
| Mar 31, 2022 | 149.55 Mn |
| Dec 31, 2021 | 137.50 Mn |
| Sep 30, 2021 | 96.99 Mn |
| Jun 30, 2021 | 76.04 Mn |
| Mar 31, 2021 | 77.90 Mn |
| Dec 31, 2020 | 76.19 Mn |
| Sep 30, 2020 | 75.83 Mn |
| Jun 30, 2020 | 73.09 Mn |
| Mar 31, 2020 | 71.92 Mn |
| Dec 31, 2019 | 65.77 Mn |
| Sep 30, 2019 | 70.80 Mn |
| Jun 30, 2019 | 64.88 Mn |
| Mar 31, 2019 | 72.06 Mn |
| Dec 31, 2018 | 65.50 Mn |
| Sep 30, 2018 | 66.11 Mn |
| Jun 30, 2018 | 64.75 Mn |
| Mar 31, 2018 | 68.81 Mn |
| Dec 31, 2017 | 65.45 Mn |
| Sep 30, 2017 | 65.68 Mn |
| Jun 30, 2017 | 65.88 Mn |
| Mar 31, 2017 | 67.38 Mn |
| Dec 31, 2016 | 67.37 Mn |
| Sep 30, 2016 | 73.41 Mn |
| Jun 30, 2016 | 66.09 Mn |