Legacy Education Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Legacy Education Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2024	FY2024	FY2025	FY2026
Revenue	35.5	46	64.2	80.1
General and administrative	10.7	13	19.1	24.2
Operating expenses	31.8	39.8	54.2	68.2
Operating income	3.62	6.22	9.99	11.8
Interest expense	0.1	0.12	0.11	0.07
Interest income	0.34	0.89	1.15	1.29
Other non-operating income	0.24	0.77	1.04	0.87
Pre-tax income	3.86	6.99	11	12.7
Income tax	1.2	1.87	3.49	3.54
Net income	2.67	5.11	7.53	9.14
EBITDA	3.85	6.48	10.4	12.5
EPS, basic	0.29	0.55	0.65	0.73
EPS, diluted	0.28	0.53	0.59	0.66
Shares, basic (weighted)	9.22	9.29	11.6	12.6
Shares, diluted (weighted)	9.62	9.69	12.7	13.9

Balance sheet

	FY2024	FY2024	FY2025	FY2026
Cash and equivalents	9.29	10.4	20.3	22.7
Receivables	7.18	13	15.1	19.9
Other current assets	0.66	1.03	1.38	2.14
Total current assets	17.3	24.6	37.1	45.8
Property, plant and equipment	0.68	0.99	2.48	3.22
Lease right-of-use assets	4.43	3.58	15.8	15
Goodwill	1.93	1.93	6.85	6.85
Intangible assets	1.06	1.05	3.86	3.84
Total assets	27.2	35.2	69.2	78.5
Accounts payable	0.72	1.53	1.39	1.32
Short-term debt	0.68	0.62	0.93	0.1
Total current liabilities	8.49	10.5	13.8	12.4
Long-term debt	0.05	0.12	0.48	0.03
Lease liabilities	3.25	1.95	13.7	13.3
Other non-current liabilities		0
Total liabilities	11.8	12.8	28.2	25.8
Total debt	0.05	0.75	1.41	0.13
Paid-in capital	14.3	16.2	27.3	29.9
Retained earnings	1.11	6.22	13.8	22.9
Shareholders' equity	15.4	22.4	41	52.8
Total equity	15.4	22.4	41	52.8
Total liabilities and equity	27.2	35.2	69.2	78.5
Shares outstanding	9.29	9.29	12.5	12.8

Cash flow statement

	FY2024	FY2024	FY2025	FY2026
Net income	2.67	5.11	7.53	9.14
Depreciation and amortization	0.22	0.27	0.44	0.64
Stock-based compensation		1.88	0.55	1.17
Deferred income tax	-0.08	-0.73	0.5	-0.34
Change in receivables	-1.99	-6.44	-3.87	-8.99
Change in payables	0.16	1.28	1.06	0.07
Cash from operations	1.77	1.65	7.77	4.03
Capital expenditures	-0.2	-0.42	-0.84	-1.35
Cash from investing	-0.2	-0.42	-6.98	-1.35
Debt repaid	-0.17	-0.17	-0.33	-0.78
Stock issued	0.03		0.37	0.58
Dividends paid	-0.92
Cash from financing	-1.05	-0.24	9.15	-0.27
Net change in cash	0.52	0.99	9.94	2.41
Free cash flow	1.57	1.23	6.92	2.68
Interest paid	0.1	0.12	0.14	0.07
Income taxes paid	1.03	1.3	3.83	3.81

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $9.31 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	14.8%	Operating income / revenue.
EBITDA margin	15.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	15.8%	Pre-tax income / revenue.
Net margin	11.4%	Net income / revenue.
FCF margin	3.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	5.0%	Cash from operations / revenue.
Effective tax rate	27.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	19.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.4%	Net income / average total assets.
Return on invested capital (ROIC)	32.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.7%	Capital expenditures / revenue.
D&A / revenue	0.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	24.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	31.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	18.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	48.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	19.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	47.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	21.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	50.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	11.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	33.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-48.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	31.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-61.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	19.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	28.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	50.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	13.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	42.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	9.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	13.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.70x	Current assets / current liabilities.
Quick ratio	3.44x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.84x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.2%	Total debt / total assets.
Liabilities / assets	32.8%	Total liabilities / total assets.
Net debt	-$22.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-1.81x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	173x	Operating income / interest expense.
Working capital	$33.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	13.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$42.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.08x	Revenue / average total assets.
Fixed asset turnover	28.0x	Revenue / average property, plant and equipment.
Receivables turnover	4.59x	Revenue / average receivables.
Days sales outstanding	80 days	365 x average receivables / revenue.
FCF conversion	29.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	33.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.66	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.73	Net income per basic share, as reported (split-adjusted).
Revenue per share	$5.74	Revenue / diluted weighted shares.
FCF per share	$0.19	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.29	Cash from operations / diluted weighted shares.
Book value per share	$4.12	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.29	Tangible book value / shares outstanding.
Cash per share	$1.78	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$117.8M	Share price x shares outstanding.
Enterprise value	$95.2M	Market cap + total debt - cash - short-term investments.
P/E	12.9x	Market cap / net income. Only when net income is positive.
P/S	1.47x	Market cap / revenue.
P/B	2.23x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.80x	Market cap / tangible book value, when positive.
P/FCF	43.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	29.3x	Market cap / cash from operations, when positive.
EV/Sales	1.19x	Enterprise value / revenue.
EV/EBIT	8.06x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.64x	Enterprise value / EBITDA, when both are positive.
EV/FCF	35.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.3%	Free cash flow / market cap.
Earnings yield	7.8%	Net income / market cap (the inverse of P/E).
PEG	0.39x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Legacy Education Inc.'s revenue in fiscal 2026?

Legacy Education Inc. reported revenue of $80.1M for fiscal 2026, 24.8% higher than the year before.

Was Legacy Education Inc. profitable in fiscal 2026?

Yes. Net income was $9.1M, a net margin of 11.4%.

How much free cash flow did Legacy Education Inc. generate in fiscal 2026?

Cash from operations of $4.0M minus capital expenditures of $1.3M left free cash flow of $2.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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