Perdoceo Education Corporation Stock Research

Market Summary

USD12.24-0.06

Delayedas of 24 May 2023, 03:04 pm

-0.49%

PRDO Alerts

2 major insider sales recently.

PRDO Stock Price

PRDO RSI Chart

PRDO Valuation

Market Cap

830.0M

Price/Earnings (Trailing)

8.45

Price/Sales (Trailing)

1.17

Price/Free Cashflow

6.35

PRDO Price/Sales (Trailing)

PRDO Profitability

Return on Equity

13.21%

Return on Assets

10.01%

Free Cashflow Yield

15.74%

PRDO Fundamentals

PRDO Revenue

Revenue (TTM)

707.8M

Revenue Y/Y

6.91%

Revenue Q/Q

11.04%

PRDO Earnings

Earnings (TTM)

98.3M

Earnings Y/Y

7.5%

Earnings Q/Q

116.13%

Price Action

52 Week Range

9.8715.65

(Low)(High)

Last 7 days

3.1%

Last 30 days

-8.4%

Last 90 days

-11.5%

Trailing 12 Months

19.3%

PRDO Financial Health

Current Ratio

3.52

PRDO Investor Care

Buy Backs (1Y)

1.89%

Diluted EPS (TTM)

1.42

Peers (Alternatives to Perdoceo Education Corporation)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MGM	14.8B	14.1B	-10.49%	19.54%	7.53	1.04	29.94%	24.85%
WYNN	11.6B	4.2B	-10.72%	64.48%	-50.81	2.74	6.20%	65.33%
MID-CAP
SCI	9.9B	4.0B	-9.47%	-6.97%	20.08	2.45	-3.65%	-38.18%
MTN	9.7B	2.8B	-5.97%	-0.64%	28.96	3.44	29.86%	54.02%
HRB	6.7B	3.5B	-14.84%	-11.88%	12.03	1.92	-	-
BFAM	4.8B	2.1B	9.66%	-4.70%	69.7	2.29	15.83%	-16.16%
PENN	4.5B	6.4B	-14.68%	-18.89%	20.2	0.7	8.41%	79.53%
LOPE	3.4B	917.3M	-7.64%	21.56%	18.23	3.7	1.50%	-22.44%
GHC	2.9B	4.0B	-1.14%	-1.19%	43.01	0.74	19.27%	-92.70%
STRA	1.9B	1.1B	-15.43%	27.92%	51.79	1.83	-3.36%	-28.41%
CHGG	1.1B	752.3M	-48.76%	-48.59%	4.3	1.5	-3.57%	278.74%
SMALL-CAP
ATGE	1.9B	1.4B	4.08%	33.86%	23.32	1.29	15.91%	-74.83%
LRN	1.8B	1.8B	9.58%	12.28%	16.09	0.99	11.06%	24.63%
PRDO	830.0M	707.8M	-8.42%	19.32%	8.45	1.17	2.24%	-11.44%
APEI	119.4M	601.3M	-3.82%	-53.34%	-0.94	0.2	23.97%	-951.72%

Financials for Perdoceo Education Corporation

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.8%	708	695	679	685	692
Operating Expenses	2.3%	579	566	537	534	540
S&GA Expenses	1.5%	433	426	407	409	415
Interest Expenses	-2.0%	0.00	0.00	0.00	1.00	1.00
Net Income	2.5%	98.00	96.00	104	110	111
Net Income Margin	-10.3%	0.14*	0.15*	0.16*	0.16*	-
Free Cahsflow	-4.1%	148	155	163	169	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	0.6%	963	957	899	856	844
Current Assets	1.8%	585	575	582	572	556
Cash Equivalents	-17.9%	90.00	109	147	149	190
Inventory	97.7%	4.00	2.00	2.00	1.00	1.00
Net PPE	-1.1%	26.00	26.00	26.00	27.00	28.00
Goodwill	0.2%	244	244	184	22.00	163
Current Liabilities	-17.3%	135	163	140	110	110
Shareholder's Equity	4.9%	761	726	706	693	678
Retained Earnings	9.9%	382	348	332	310	284
Additional Paid-In Capital	0.4%	687	684	681	679	677
Accumulated Depreciation	4.5%	57.00	54.00	119	116	117
Shares Outstanding	0.5%	67.00	67.00	67.00	68.00	69.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-11.9%	131	148	155	163	169
Share Based Compensation	-1.4%	9.00	9.00	10.00	12.00	14.00
Cashflow From Investing	38.4%	-201	-326	-225	-60.97	-29.95
Cashflow From Financing	21.6%	-21.74	-27.73	-51.13	-43.58	-36.99
Buy Backs	-13.0%	20.00	23.00	43.00	36.00	32.00

Risks for PRDO

What is the probability of a big loss on PRDO?

90.8%

Probability that Perdoceo Education Corporation stock will be more than 20% underwater in next one year

51.9%

Probability that Perdoceo Education Corporation stock will be more than 30% underwater in next one year.

19.6%

Probability that Perdoceo Education Corporation stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does PRDO drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Perdoceo Education Corporation was unfortunately bought at previous high price.

Drawdowns

Returns for PRDO

Cumulative Returns on PRDO

14.8%

10-Year Cumulative Returns

10.9%

7-Year Cumulative Returns

-3.6%

5-Year Cumulative Returns

-8.8%

3-Year Cumulative Returns

What are the long-term rolling returns for PRDO?

FIve years rolling returns for Perdoceo Education Corporation.

Annualized Returns

Which funds bought or sold PRDO recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-22	AMERIPRISE FINANCIAL INC	added	4.37	88,414	10,236,400	-%
2023-05-22	Raleigh Capital Management Inc.	new	-	3,237	3,237	-%
2023-05-22	American Trust	reduced	-2.03	-13,771	244,157	0.02%
2023-05-22	PUTNAM INVESTMENTS LLC	reduced	-4.04	-93,250	1,186,240	-%
2023-05-18	JPMORGAN CHASE & CO	reduced	-16.36	-887,000	3,730,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-17.58	-521,000	2,036,000	-%
2023-05-17	Advisory Services Network, LLC	reduced	-98.58	-45,281	631	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.39	-64,000	894,000	-%
2023-05-17	B. Riley Wealth Advisors, Inc.	sold off	-100	-235,501	-	-%
2023-05-16	MERCER GLOBAL ADVISORS INC /ADV	unchanged	-	-9,000	255,000	-%

Latest Funds Activity

Are funds buying PRDO calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own PRDO

No. of Funds

PRDO Alerts

2 major insider sales recently.

Perdoceo Education Corporation News

Schedule 13G FIlings of Perdoceo Education Corporation

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	renaissance technologies llc	6.50%	4,367,987	SC 13G/A
Feb 10, 2023	dimensional fund advisors lp	6.8%	4,590,973	SC 13G
Feb 09, 2023	vanguard group inc	8.62%	5,792,684	SC 13G/A
Jan 23, 2023	blackrock inc.	16.5%	11,080,151	SC 13G/A
Feb 11, 2022	renaissance technologies llc	6.68%	4,679,987	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Jan 27, 2022	blackrock inc.	16.5%	11,533,620	SC 13G/A
Jan 26, 2022	blackrock inc.	16.5%	11,533,620	SC 13G
Feb 16, 2021	frontier capital management co llc	0.0%	0	SC 13G/A
Feb 12, 2021	dimensional fund advisors lp	4.7%	3,269,714	SC 13G/A

PRDO Fair Value

Perdoceo Education Corporation fair value in different scenarios

The table shows the Fair Value estimates for Perdoceo Education Corporation for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	10.78 -11.93%	13.43 9.72%	17.62 43.95%	25.87 111.36%	31.16 154.58%
Current Inflation	10.08 -17.65%	12.42 1.47%	16.02 30.88%	22.98 87.75%	27.46 124.35%
Very High Inflation	9.20 -24.84%	11.15 -8.91%	14.07 14.95%	19.58 59.97%	23.14 89.05%

Historical Perdoceo Education Corporation Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Perdoceo Education Corporation

View All Filings

Date Filed	Form Type	Document
May 12, 2023	144	Notice of Insider Sale Intent
May 12, 2023	4	Insider Trading
May 11, 2023	144	Notice of Insider Sale Intent
May 04, 2023	10-Q	Quarterly Report
May 04, 2023	8-K	Current Report
Apr 19, 2023	4	Insider Trading
Apr 17, 2023	144	Notice of Insider Sale Intent
Apr 11, 2023	DEF 14A	DEF 14A
Apr 11, 2023	DEFA14A	DEFA14A
Apr 11, 2023	ARS	ARS

Latest Insider Trading transactions for PRDO

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-12	Czeszewski David C.	sold	-137,567	11.89	-11,570	svp, cio
2023-05-11	Czeszewski David C.	sold	-140,169	12.01	-11,671	svp, cio
2023-04-17	Kline John Robert	sold	-134,300	13.43	-10,000	svp, aiu
2023-03-23	NELSON TODD S	sold	-171,878	12.97	-13,252	executive chairman
2023-03-22	NELSON TODD S	sold	-333,500	13.34	-25,000	executive chairman
2023-03-21	NELSON TODD S	sold	-332,750	13.31	-25,000	executive chairman
2023-03-20	NELSON TODD S	sold	-331,500	13.26	-25,000	executive chairman
2023-03-14	Kline John Robert	sold (taxes)	-100,716	13.37	-7,533	svp, aiu
2023-03-14	Peppers Michele A	sold (taxes)	-35,390	13.37	-2,647	principal accounting officer
2023-03-14	Ghia Ashish R	sold (taxes)	-198,651	13.37	-14,858	cfo

About Perdoceo Education Corporation

Andrew H. Hurst

www.careered.com

4300

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. The company operates in two segments, Colorado Technical University and American InterContinental University. It offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice, as well as business studies, information technologies, education, and health sciences. The company also operates intellipath, a personalized learning platform; and a mobile application and two-way messaging platform. As of December 31, 2021, it had a total student enrollment of approximately 40,400 students. The company was formerly known as Career Education Corporation and changed its name to Perdoceo Education Corporation in January 2020. Perdoceo Education Corporation was incorporated in 1994 and is based in Schaumburg, Illinois.

PRDO Income Statement

2023-03-31

Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

REVENUE:

Total revenue

$ 195,598

$ 182,959

OPERATING EXPENSES:

Educational services and facilities

33,851

28,088

General and administrative

112,686

106,296

Depreciation and amortization

5,155

4,882

Asset impairment

570

Total operating expenses

152,262

139,266

Operating income

43,336

43,693

OTHER INCOME:

Interest income

3,818

333

Interest expense

(95)

(103)

Miscellaneous expense

(6)

(89)

Total other income

3,717

141

PRETAX INCOME

47,053

43,834

Provision for income taxes

12,569

11,756

NET INCOME

$ 34,484

$ 32,078

NET INCOME PER SHARE - BASIC:

$ 0.51

$ 0.47

NET INCOME PER SHARE - DILUTED:

$ 0.50

$ 0.46

WEIGHTED AVERAGE SHARES OUTSTANDING:

Basic

67,235

68,746

Diluted

68,514

69,567

Tuition and Fees, Net [Member]

REVENUE:

Total revenue

$ 193,319

$ 181,327

Other [Member]

REVENUE:

Total revenue

^[1]

$ 2,279

$ 1,632

[1]	Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.

PRDO Balance Sheet

2023-03-31

Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands

Mar. 31, 2023

Dec. 31, 2022

CURRENT ASSETS:

Cash and cash equivalents, unrestricted

$ 89,845

$ 109,408

Restricted cash

9,476

Total cash, cash equivalents and restricted cash

99,321

118,884

Short-term investments

420,943

399,315

Total cash and cash equivalents, restricted cash and short-term investments

520,264

518,199

Student receivables, gross

84,901

81,197

Allowance for credit losses

(39,912)

(38,646)

Student receivables, net

44,989

42,551

Receivables, other

4,309

3,457

Prepaid expenses

11,383

8,411

Inventories

3,765

1,904

Other current assets

735

597

Total current assets

585,445

575,119

NON-CURRENT ASSETS:

Property and equipment, net of accumulated depreciation of $56,702 and $54,238 as of March 31, 2023 and December 31, 2022, respectively

25,752

26,038

Right of use asset, net

24,277

26,156

Goodwill

243,941

243,540

Intangible assets, net of amortization of $18,604 and $15,981 as of March 31, 2023 and December 31, 2022, respectively

50,941

53,564

Student receivables, gross

5,499

6,345

Allowance for credit losses

(4,032)

(4,495)

Student receivables, net

1,467

1,850

Deferred income tax assets, net

24,309

24,613

Other assets

6,880

6,488

TOTAL ASSETS

^[1]

963,012

957,368

CURRENT LIABILITIES:

Lease liability-operating

6,043

6,555

Accounts payable

15,178

13,518

Accrued expenses:

Payroll and related benefits

22,448

40,306

Advertising and marketing costs

7,654

8,977

Income taxes

20,079

7,814

Other

19,027

14,621

Deferred revenue

44,710

71,590

Total current liabilities

135,139

163,381

NON-CURRENT LIABILITIES:

Lease liability-operating

25,837

27,286

Other liabilities

40,864

40,856

Total non-current liabilities

66,701

68,142

STOCKHOLDERS' EQUITY:

Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding

Common stock, $0.01 par value; 300,000,000 shares authorized; 89,923,857 and 89,396,192 shares issued, 67,477,996 and 67,175,485 shares outstanding as of March 31, 2023 and December 31, 2022, respectively

899

894

Additional paid-in capital

686,719

684,183

Accumulated other comprehensive loss

(4,121)

(5,447)

Retained earnings

382,323

347,839

Treasury stock, at cost; 22,445,861 and 22,220,707 shares as of March 31, 2023 and December 31, 2022, respectively

(304,648)

(301,624)

Total stockholders' equity

761,172

725,845

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$ 963,012

$ 957,368

[1]	Total assets are presented on a condensed consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.