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Lincoln Educational Services Corporation (LINC)
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Lincoln Educational Services Corporation Balance Sheet 2025-2008 | LINC
Brief overview of Lincoln Educational Services Corporation's financial position
The comparison uses five available annual reports from the 2021–2025 interval.
The asset base grew from $295.3 million to $493.2 million, or +67%. Average annual growth of roughly 13.7% was strong.
Funding shifted toward liabilities: they gained +90.7%, compared with +67% for assets.
The share of internal funding stands at 40.5% versus 43.8% initially, providing a reasonable foundation.
Each unit of equity supports about 0.06x of net debt. Dependence on debt remains comfortable.
The cash share moved from 28.2% to 5.8%. A higher figure generally provides more room in an adverse scenario.
Retained earnings are $99.2 million versus $39.7 million initially. The direction shows how results contributed to equity.
What the balance sheet shows
Lincoln Educational Services Corporation retains a reasonably healthy balance sheet structure, which still needs support from earnings and cash flow.
Annual Balance Sheet Lincoln Educational Services Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
12.8 M | -20.5 M | -48.1 M | 54.6 M | 14.6 M | -20.8 M | 10.4 M | 31.2 M | 38 M | 20.9 M | 6.23 M | 52.9 M | 77.2 M | 11.8 M | 9.98 M | -9.49 M | - | - |
Long Term Debt |
30.7 M | 29.3 M | 16.1 M | 91 M | 86.4 M | 15.2 M | 32 M | 33.8 M | 52.6 M | 30.2 M | 34.7 M | - | 89.7 M | 73.1 M | 36 M | 56.5 M | - | - |
Long Term Debt Current |
10.6 M | 9.5 M | 11.7 M | 9.63 M | 11.5 M | 8.5 M | 9.14 M | 15 M | - | 11.7 M | 10 M | 30 M | - | - | - | - | - | - |
Total Non Current Liabilities |
193 M | 168 M | 105 M | 91.7 M | 88 M | 87.3 M | 94.4 M | 41.6 M | 61.9 M | 40.3 M | 57.8 M | 47.2 M | 104 M | 89.7 M | 52.1 M | 68.7 M | - | - |
Total Current Liabilities |
101 M | 90.2 M | 73.4 M | 55 M | 65.9 M | 66.8 M | 57.2 M | 64.6 M | 47.5 M | 68 M | 71.4 M | 83.5 M | 56.6 M | 58.6 M | 71.1 M | 122 M | - | - |
Total Liabilities |
293 M | 258 M | 178 M | 147 M | 154 M | 154 M | 152 M | 106 M | 109 M | 108 M | 129 M | 131 M | 161 M | 148 M | 123 M | 190 M | - | - |
Deferred Revenue |
44.2 M | 30.6 M | 26.9 M | 24.2 M | 25.4 M | 23.5 M | 23.4 M | 22.5 M | 24.6 M | 17.5 M | 21.4 M | 26.5 M | 30.2 M | 34.6 M | 43.2 M | 50.9 M | - | - |
Retained Earnings |
99.2 M | 79.2 M | 69.3 M | 51.2 M | 39.7 M | 6.2 M | -42.1 M | -44.1 M | -37.5 M | -26 M | 2.26 M | 5.61 M | 66.1 M | 124 M | 168 M | 152 M | - | - |
Total Assets |
493 M | 437 M | 345 M | 292 M | 295 M | 245 M | 195 M | 146 M | 155 M | 163 M | 210 M | 214 M | 306 M | 347 M | 362 M | 413 M | - | - |
Cash and Cash Equivalents |
28.5 M | 59.3 M | 76 M | 46.1 M | 83.3 M | 38 M | 23.6 M | 17.6 M | 14.6 M | 21.1 M | 38.4 M | 12.3 M | 12.9 M | 61.7 M | 26.5 M | 66 M | 46.1 M | 15.2 M |
Book Value |
200 M | 178 M | 167 M | 145 M | 141 M | 91.1 M | 43.1 M | 39.9 M | 45.8 M | 54.9 M | 81 M | 83 M | 145 M | 198 M | 239 M | 222 M | - | - |
Total Shareholders Equity |
200 M | 178 M | 167 M | 145 M | 129 M | 91.1 M | 43.1 M | 39.9 M | 45.8 M | 54.9 M | 81 M | 83 M | 145 M | 198 M | 239 M | 222 M | 219 M | 175 M |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet Lincoln Educational Services Corporation
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
154 M | 160 M | 160 M | 162 M | 146 M | 134 M | 136 M | 139 M | 131 M | 106 M | 102 M | 88.9 M | 91.9 M | 87.7 M | 90.6 M | 91 M | 92 M | 87.4 M | 90.5 M | 86.4 M | 49.1 M | 50.6 M | 50.3 M | 52.7 M | 55.2 M | 51.1 M | 43.7 M | 46 M | 35.9 M | 34.5 M | 36.4 M | 33.8 M | 24.4 M | 24.3 M | 22.3 M | 52.6 M | 16.7 M | 24 M | 24.2 M | 30.2 M | 31.7 M | 31.5 M | 31.3 M | 48.1 M | 73.2 M | 34.5 M | 34.6 M | 34.7 M | 34.8 M | 35 M | 40.1 M | 89.7 M | 35.3 M | 35.4 M | 35.5 M | 73.1 M | 35.7 M | 35.8 M | 35.9 M | 36 M | 36.1 M | 36.3 M | 36 M |
Total Non Current Liabilities |
209 M | 216 M | 196 M | 193 M | 185 M | 178 M | 167 M | 168 M | 161 M | 135 M | 131 M | 105 M | 92.5 M | 88.3 M | 91.3 M | 91.7 M | 93.2 M | 88.7 M | 92.1 M | 88 M | 70.6 M | 72.4 M | 72.5 M | 75.3 M | 77.3 M | 72.3 M | 65.3 M | 82.4 M | 60 M | 60.3 M | 61.7 M | 41.6 M | 32.4 M | 32.8 M | 31.2 M | 61.9 M | 27.1 M | 35.4 M | 35.7 M | 42 M | 40.8 M | 40.7 M | 40.7 M | 55.8 M | 85.2 M | 46.3 M | 46.9 M | 47.2 M | 43.6 M | 49.4 M | 54.6 M | 104 M | 50.6 M | 51 M | 51.6 M | 89.7 M | 52.3 M | 52.3 M | 52.3 M | 52.1 M | 48.8 M | 48.7 M | - |
Total Liabilities |
329 M | 327 M | 288 M | 293 M | 281 M | 267 M | 250 M | 258 M | 234 M | 202 M | 191 M | 178 M | 159 M | 157 M | 146 M | 147 M | 153 M | 147 M | 147 M | 154 M | 140 M | 135 M | 133 M | 142 M | 149 M | 141 M | 116 M | 140 M | 128 M | 123 M | 121 M | 106 M | 87.7 M | 80.5 M | 77.7 M | 109 M | 80.4 M | 92.3 M | 92.8 M | 108 M | 117 M | 106 M | 115 M | 127 M | 149 M | 106 M | 100 M | 131 M | 112 M | 119 M | 109 M | 161 M | 114 M | 107 M | 109 M | 148 M | 123 M | 120 M | 122 M | 123 M | 130 M | 141 M | 123 M |
Deferred Revenue |
45.6 M | 51.9 M | 39.3 M | 44.2 M | 33.5 M | 28.1 M | 28.8 M | 30.6 M | 23 M | 24.3 M | 22.3 M | 26.9 M | 21.8 M | 22.9 M | 21 M | 24.2 M | 22.7 M | 21.7 M | 21.2 M | 25.4 M | 24.7 M | 22.2 M | 20.2 M | 23.5 M | 19.4 M | 17.6 M | 18.3 M | 23.4 M | 22.9 M | 19.7 M | 18.3 M | 22.5 M | 21.5 M | 19.4 M | 20.9 M | 24.6 M | 26.2 M | 20.5 M | 23.2 M | 24.8 M | 19.9 M | 15.2 M | 16.1 M | 23.7 M | 26.8 M | 22.4 M | 26.8 M | 26.5 M | 34.9 M | 27.6 M | 31 M | 30.2 M | 35.8 M | 29.9 M | 32.6 M | 34.6 M | 41.1 M | 39.7 M | 41.8 M | 43.2 M | 46.3 M | 49.7 M | 43.2 M |
Retained Earnings |
110 M | 105 M | 104 M | 99.2 M | 86.5 M | 82.7 M | 81.1 M | 79.2 M | 72.3 M | 68.4 M | 69.1 M | 69.3 M | 62.5 M | 60.4 M | 43.2 M | 51.2 M | 42.9 M | 39.6 M | 39.7 M | 39.7 M | 16 M | 12.5 M | 10.4 M | 6.2 M | -39.5 M | -43 M | -43.8 M | -42.1 M | -51.3 M | -52.6 M | -49.5 M | -44.1 M | -49.1 M | -48.5 M | -44.4 M | -37.5 M | -45.2 M | -43.7 M | -37 M | -26 M | -7.42 M | -6.95 M | -3.81 M | 2.26 M | -6.3 M | -8.88 M | -1.27 M | 5.61 M | 1.45 M | 40 M | 53.3 M | 66.1 M | 99.9 M | 104 M | 115 M | 124 M | 138 M | 141 M | 163 M | 168 M | 163 M | 167 M | 168 M |
Total Assets |
517 M | 530 M | 487 M | 493 M | 467 M | 447 M | 427 M | 437 M | 404 M | 366 M | 355 M | 345 M | 316 M | 311 M | 281 M | 292 M | 291 M | 285 M | 288 M | 295 M | 253 M | 245 M | 240 M | 245 M | 206 M | 195 M | 169 M | 195 M | 162 M | 155 M | 156 M | 146 M | 123 M | 116 M | 117 M | 155 M | 118 M | 130 M | 137 M | 163 M | 190 M | 179 M | 190 M | 208 M | 222 M | 176 M | 177 M | 214 M | 195 M | 240 M | 242 M | 306 M | 290 M | 287 M | 299 M | 347 M | 334 M | 334 M | 356 M | 362 M | 366 M | 380 M | 362 M |
Cash and Cash Equivalents |
20.6 M | 44.2 M | 16.7 M | 28.5 M | 13.5 M | 16.7 M | 28.7 M | 59.3 M | 54 M | 67 M | 69.8 M | 80.3 M | 46 M | 70.6 M | 44.5 M | 50.3 M | 69.6 M | 67 M | 65.6 M | 83.3 M | 47.2 M | 33 M | 26.7 M | 38 M | 27.6 M | 26 M | 9.74 M | 38.6 M | 15.8 M | 11 M | 10.2 M | 45.9 M | 18 M | 11.6 M | 13.4 M | 54.6 M | 14.5 M | 13.4 M | 19.9 M | 47.7 M | 19.2 M | 11 M | 20.2 M | 61 M | 32.4 M | 4.85 M | 5.18 M | 12.3 M | 12.7 M | 6.76 M | 7.09 M | 12.9 M | 6.25 M | 4.27 M | 17.3 M | 61.7 M | 20.4 M | 20 M | 27.6 M | 26.5 M | 26.1 M | 30.3 M | 26.5 M |
Book Value |
188 M | 202 M | 199 M | 200 M | 186 M | 181 M | 178 M | 178 M | 170 M | 165 M | 164 M | 167 M | 157 M | 154 M | 135 M | 145 M | 138 M | 138 M | 141 M | 141 M | 114 M | 110 M | 107 M | 103 M | 57.3 M | 54 M | 52.9 M | 55.1 M | 33.6 M | 31.9 M | 34.6 M | 39.9 M | 34.8 M | 35.3 M | 39.2 M | 45.8 M | 37.1 M | 37.9 M | 44.1 M | 54.9 M | 73 M | 72.8 M | 75.4 M | 81 M | 72.6 M | 69.7 M | 76.7 M | 83 M | 83.3 M | 121 M | 133 M | 145 M | 176 M | 180 M | 190 M | 198 M | 211 M | 214 M | 234 M | 239 M | 236 M | 240 M | 239 M |
Total Shareholders Equity |
188 M | 202 M | 199 M | 200 M | 186 M | 181 M | 178 M | 178 M | 170 M | 165 M | 164 M | 167 M | 157 M | 154 M | 135 M | 145 M | 126 M | 127 M | 129 M | 129 M | 102 M | 97.7 M | 94.9 M | 91.1 M | 45.3 M | 42.1 M | 40.9 M | 43.1 M | 33.6 M | 31.9 M | 34.6 M | 39.9 M | 34.8 M | 35.3 M | 39.2 M | 45.8 M | 37.1 M | 37.9 M | 44.1 M | 54.9 M | 73 M | 72.8 M | 75.4 M | 81 M | 72.6 M | 69.7 M | 76.7 M | 83 M | 83.3 M | 121 M | 133 M | 145 M | 176 M | 180 M | 190 M | 198 M | 211 M | 214 M | 234 M | 239 M | 236 M | 240 M | 239 M |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of Lincoln Educational Services Corporation, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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