LINCOLN EDUCATIONAL SERVICES CORP
LINC · Services-Educational Services · 31.7M shares · +5%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $5M (gross $9M, SBC $5M)
Reference price $44.64 · est. market cap ~$1.4B — last insider sale, 2026-06-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B74gen composite 62pct→74
Notable findings
- Cash burnNegative free cash flow (-27.3M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Weak liquidityCurrent ratio 0.86 (<1)
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
60.4%
Operating margin
5.8%
Net margin
3.9%
Return on equity
10.0%
Return on assets
4.1%
ROIC
12.0%
Revenue growth (QoQ)
22.5%
Net-income growth
102.2%
Interest coverage
8.9×
Current ratio
0.9×
Free cash flow
-$27M
EBITDA
$49M
Tangible book value
$189M
Cash & investments
$29M
Cash runway
4q
Stock comp / revenue
1.1%
Leadership & compensation
| Name | Role | Latest total comp |
|---|---|---|
| SHAW SCOTT M | CEO | — |
| Alexandra M. LusterSenior | General Counseland Corporate Secretary | $709K FY2025 |
| Brian K. MeyersExecutive | Chief Financial Officer and Treasurer | $2M FY2025 |
| Chad D. NyceExecutive | Chief Operating Officer | $2M FY2025 |
| LUSTER ALEXANDRA M | SVP and General Counsel | — |
| Meyers Brian K | CFO and Treasurer | — |
| Scott M. ShawPresident andChief Executive Officer | Officer | $4M FY2025 |
| Stephen AceSenior | Chief Human Resources Officer | $695K FY2025 |
| Anna Cabral | Director | $4K FY2025 |
| Bartholdson John A. | Director | — |
| Carney Kevin M | Director | — |
| Felecia J. Pryor | Director | $6K FY2025 |
| Grand Total | Director | $32K FY2025 |
| James J. Burke | Director | $6K FY2025 |
| Marta Newhart | Director | $6K FY2025 |
| Michael A. Plater | Director | $10K FY2025 |
| Rose Carlton | Director | — |
| Young Sylvia Jean | Director | — |
Officers & directors from SEC filings (Form 4 + DEF 14A proxy); compensation is the latest reported fiscal year.
Insider transactions · last 6 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | LUSTER ALEXANDRA M | Sell | 18K | $44.64 |
| 2026-06-12 | Juniper Investment Company, LLC | Sell | 37K | $46.88 |
| 2026-06-11 | Juniper Investment Company, LLC | Sell | 12K | $47.87 |
| 2026-06-10 | Carney Kevin M | Sell | 3.0K | $48.00 |
| 2026-06-08 | Carney Kevin M | Other | 3.2K | — |
| 2026-06-08 | Carney Kevin M | Other | 3.2K | — |
| 2026-06-05 | LUSTER ALEXANDRA M | Sell | 2.0K | $50.11 |
| 2026-06-04 | Juniper Investment Company, LLC | Sell | 25K | $51.13 |
| 2026-06-03 | Juniper Investment Company, LLC | Sell | 82K | $50.10 |
| 2026-06-03 | Pryor Felecia J. | Sell | 2.0K | $49.70 |
| 2026-05-22 | BURKE JAMES J JR | Sell | 16K | $48.36 |
| 2026-05-18 | BURKE JAMES J JR | Sell | 16K | $49.54 |
| 2026-05-15 | Juniper Investment Company, LLC | Sell | 2.0K | $50.11 |
| 2026-05-14 | BURKE JAMES J JR | Sell | 193 | $51.76 |
| 2026-05-14 | Juniper Investment Company, LLC | Sell | 48K | $51.16 |
| 2026-05-12 | Meyers Brian K | Sell | 40K | $49.98 |
| 2026-05-07 | Plater Michael A | Grant | 2.5K | $44.10 |
| 2026-05-07 | Bartholdson John A. | Grant | 3.5K | $44.10 |
| 2026-05-07 | Carney Kevin M | Grant | 2.5K | $44.10 |
| 2026-05-07 | Pryor Felecia J. | Grant | 2.5K | $44.10 |
| 2026-05-07 | CABRAL ANNA ESCOBEDO | Grant | 2.5K | $44.10 |
| 2026-05-07 | Newhart Marta | Grant | 2.5K | $44.10 |
| 2026-05-07 | Rose Carlton | Grant | 2.5K | $44.10 |
| 2026-05-07 | Young Sylvia Jean | Grant | 2.5K | $44.10 |
| 2026-05-07 | BURKE JAMES J JR | Grant | 2.5K | $44.10 |
| 2026-03-10 | Nyce Chad D | Sell | 8.4K | $36.50 |
| 2026-03-06 | Young Sylvia Jean | Sell | 8.0K | $35.81 |
| 2026-03-02 | Plater Michael A | Sell | 17K | $35.73 |
| 2026-03-01 | SHAW SCOTT M | Grant | 10.0K | — |
| 2026-03-01 | SHAW SCOTT M | Tax withheld | 73K | $36.24 |
| 2026-03-01 | Nyce Chad D | Grant | 4.3K | — |
| 2026-03-01 | Nyce Chad D | Tax withheld | 24K | $36.24 |
| 2026-03-01 | Ace Stephen E | Grant | 833 | — |
| 2026-03-01 | Ace Stephen E | Tax withheld | 5.0K | $36.24 |
| 2026-03-01 | LUSTER ALEXANDRA M | Grant | 833 | — |
| 2026-03-01 | LUSTER ALEXANDRA M | Tax withheld | 4.7K | $36.24 |
| 2026-03-01 | Meyers Brian K | Grant | 4.3K | — |
| 2026-03-01 | Meyers Brian K | Tax withheld | 31K | $36.24 |
| 2026-02-26 | BURKE JAMES J JR | Sell | 3.2K | $34.87 |
| 2026-02-25 | BURKE JAMES J JR | Sell | 5.3K | $34.69 |
| 2026-02-25 | Juniper Investment Company, LLC | Sell | 275K | $34.55 |
| 2026-02-25 | Juniper Investment Company, LLC | Sell | 150K | $35.67 |
| 2026-02-19 | LUSTER ALEXANDRA M | Grant | 4.8K | — |
| 2026-02-19 | Nyce Chad D | Grant | 32K | — |
| 2026-02-19 | Ace Stephen E | Grant | 4.8K | — |
| 2026-02-19 | SHAW SCOTT M | Grant | 71K | — |
| 2026-02-19 | Meyers Brian K | Grant | 32K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-13 | Material agreementExhibits | filing ↗ |
| 2026-05-11 | ResultsExhibits | filing ↗ |
| 2026-05-11 | Shareholder voteReg FDExhibits | filing ↗ |
| 2026-04-16 | Material agreementDebt obligationOtherExhibits | filing ↗ |
| 2026-03-19 | Reg FDExhibits | filing ↗ |
| 2026-02-23 | ResultsExhibits | filing ↗ |
| 2025-12-23 | Material agreementExec/director changeExhibits | filing ↗ |
| 2025-11-10 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-13 | 2026-05-12 | 0001140361-26-021084 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001140361-26-020546 ↗ |
| 8-K | 2026-05-11 | 2026-05-07 | 0001140361-26-020318 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001140361-26-020531 ↗ |
| 8-K | 2026-04-16 | 2026-04-13 | 0001140361-26-014854 ↗ |
| DEF 14A | 2026-03-26 | 2026-05-07 | 0001140361-26-011290 ↗ |
| 8-K | 2026-03-19 | 2026-03-19 | 0001140361-26-010438 ↗ |
| 10-K | 2026-03-02 | 2025-12-31 | 0001140361-26-007380 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001140361-26-006394 ↗ |
| 8-K | 2025-12-23 | 2025-12-19 | 0001140361-25-046577 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001140361-25-041367 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001140361-25-041363 ↗ |