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  5. Income Statement
Lincoln Educational Services Corporation logo
Lincoln Educational Services Corporation LINC
$ 22.78 3.88%
report update icon

Quarterly report 2026-Q3
added 11-09-2026

Lincoln Educational Services Corporation Income Statement 2025-2008 | LINC

Brief overview of profit and loss at Lincoln Educational Services Corporation

The overview follows changes across a five-year period. The revenue attributed to Lincoln Educational Services Corporation moved from $293 million to $518 million between the two endpoints. The cumulative result was +76.8%, corresponding to roughly 12.1% per year. The company expanded its sales base at a healthy rate.

At the gross-profit level, the result moved from 171 million dollars to 313 million dollars, a change of +83.1%. Revenue outpaced cost of revenue, allowing more sales to flow into gross profit. Gross margin moved from 58.3% to 60.4%. The margin shift points to a more favorable sales-and-cost structure.

The operating result measured by EBITDA moved from $22.1 million to $49.5 million, or +123.9%. The operating result outpaced sales and points to improving efficiency. EBITDA margin was 7.5% at the start and 9.5% at the end. A wider margin confirms stronger operating efficiency.

Net income changed from $48.6 million to $20 million (−58.8%). The final result developed less favorably than the core business.

Market value was 146 million dollars at the start and 1.1 million dollars at the end. The valuation did not keep pace with the reported progress.

Financial takeaway

Positive developments coexist with areas of weakness. The strongest signals are positive operating leverage, revenue expansion and improving gross profitability. The main areas of concern are lower investor confidence and a weaker final result. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.

Annual Income Statement Lincoln Educational Services Corporation

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

Market Cap

 1.14 B 549 M 540 M 159 M 193 M 146 M 57.9 M 73.3 M 43.5 M 45.7 M 66 M 59.3 M 97.4 M 107 M 163 M 556 M 496 M -

Shares

 30.9 M 30.6 M 30.1 M 25.9 M 25.1 M 24.7 M 24.6 M 24.4 M 23.9 M 23.5 M 23.2 M 22.8 M 22.5 M 22.2 M 22 M 24.4 M 26.3 M -

Historical Prices

 37 17.9 17.9 6.14 7.71 5.78 2.95 3.17 1.93 1.87 2.66 2.9 4.23 5.63 7.21 22.8 18.8 11.9

Net Income

 20 M 9.89 M 26 M 12.6 M 34.7 M 48.6 M 2.02 M -6.54 M -11.5 M -28.3 M -3.35 M -56.1 M -51.3 M -37.2 M 17.5 M 69.7 M 49.2 M -

Revenue

 518 M 440 M 378 M 348 M 335 M 293 M 273 M 263 M 262 M 197 M 193 M 325 M 345 M 403 M 513 M - - -

Cost of Revenue

 205 M 182 M 162 M 149 M 139 M 122 M 123 M 125 M 129 M 144 M 152 M 103 M 102 M 178 M 197 M 227 M 211 M -

Gross Profit

 313 M 258 M 216 M 200 M 196 M 171 M 150 M 138 M 132 M 102 M 101 M 161 M 172 M 210 M 290 M - - -

Operating Income

 30.3 M 15.2 M 33.4 M 16.3 M 49.3 M 14.8 M 5.24 M -3.95 M -4.72 M -28.9 M 704 K -23.7 M -3.45 M -12.7 M 34.9 M 115 M 88.3 M -

Interest Expense

 3.39 M 2.56 M 347 K 160 K 2.02 M 1.28 M 2.96 M 2.42 M 7.1 M 6.13 M 8.02 M 3.43 M 4.27 M 4.48 M 4.37 M 4.52 M 4.28 M -

EBITDA

 49.5 M 26.5 M 40 M 22.6 M 56.4 M 22.1 M 12.8 M 5 M 2.36 M 9.92 M 17.2 M 11.6 M 17.5 M 33 M 73.7 M 141 M 113 M -

Operating Expenses

 283 M 243 M 182 M 183 M 147 M 156 M 145 M 141 M 139 M 103 M 98.3 M 168 M 178 M 204 M 244 M -115 M - -

General and Administrative Expenses

 114 M 89.4 M 82.6 M 69.6 M 169 M 156 M - - - - - - - - - 258 M 252 M -

All numbers in USD currency

Quarterly Income Statement 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

Shares

 31.2 M 31.3 M 31.1 M -30.9 M 31 M 31 M 30.8 M -30.5 M 30.7 M 30.7 M 30.3 M -30.1 M 30.2 M 30.1 M 30 M 187 K 25.4 M 26 M 25.7 M 37.4 M 25.1 M 25.1 M 24.9 M 27.7 M 24.8 M 24.7 M 24.6 M 24.6 M 24.6 M 24.6 M 24.5 M 24.5 M 24.5 M 24.5 M 24.1 M 24 M 24 M 24 M 23.6 M 23.5 M 23.5 M 23.4 M 23.4 M 23.2 M 23.2 M 23.1 M 23.1 M 22.9 M 22.8 M 22.8 M 22.7 M 22.6 M 22.5 M 22.5 M 22.4 M 22.3 M 22.2 M 22.2 M 22.1 M 23.6 M 22 M 22 M 21.9 M

Net Income

 4.72 M 1.95 M 4.36 M 12.7 M 3.8 M 1.55 M 1.94 M 6.83 M 3.95 M -682 K -214 K 6.79 M 2.06 M 17.2 M -109 K 6.72 M 2.54 M -45 K -39 K 18.5 M 2.72 M 1.63 M 3.23 M 35.7 M 1.88 M 372 K -2.06 M 9.21 M 1.34 M -3.06 M -5.47 M 5.03 M -600 K -4.1 M -6.87 M 7.71 M -1.49 M -6.77 M -10.9 M -18.6 M -471 K -3.14 M -6.07 M 8.56 M 2.58 M -7.6 M -6.88 M 4.64 M -38.1 M -11.6 M -11.1 M -32.1 M -2.28 M -9.38 M -7.49 M -11.9 M -1.48 M -20.7 M -3.06 M 6.18 M -3.93 M 4.93 M 10.4 M

Revenue

 159 M 143 M 144 M 143 M 141 M 116 M 118 M 119 M 114 M 103 M 103 M 103 M 99.6 M 88.6 M 87.3 M 91.8 M 91.8 M 82.1 M 82.6 M 87.8 M 89.1 M 80.5 M 78 M 81.8 M 78.8 M 62.5 M 70 M 73.9 M 72.6 M 63.6 M 63.3 M 70.1 M 70.1 M 61.1 M 61.9 M 67.4 M 67.3 M 61.9 M 65.3 M 72.6 M 74.3 M 68.1 M 70.6 M 156 M 54 M 44.7 M 47.7 M -21.5 M 84 M 76.4 M 79.2 M 87.4 M 88.5 M 81.8 M 86.3 M 97 M 102 M 97 M 101 M 112 M 123 M 128 M 145 M

Cost of Revenue

 67.1 M 59.6 M 58.4 M 53.9 M 57.3 M 46.8 M 47.4 M 45.1 M 48.1 M 45.6 M 43 M 41 M 43.1 M 40 M 38.1 M 36.5 M 39.9 M 36.1 M 36.2 M 34.8 M 38.1 M 33.7 M 32.3 M 31.5 M 34.3 M 26.2 M 30.2 M 30.6 M 33.2 M 29.7 M 30 M 31.2 M 33.5 M 30.2 M 30.5 M 30.2 M 34.1 M 32.4 M 32.7 M 34.2 M 37.5 M 35.6 M 37.1 M 79.3 M 25 M 22.5 M 22.9 M -21.6 M 42.4 M 40.7 M 41.8 M -27.9 M 44.4 M 42.4 M 43.6 M 32.7 M 49.4 M 47.2 M 49 M 25.6 M 57.4 M 54.6 M 59 M

Gross Profit

 92.1 M 82.9 M 85.6 M 89 M 84.1 M 69.7 M 70.1 M 74.3 M 66.4 M 57.4 M 60.3 M 61.5 M 56.5 M 48.6 M 49.2 M 55.3 M 51.9 M 46 M 46.4 M 53 M 51 M 46.8 M 45.7 M 50.3 M 44.5 M 36.2 M 39.8 M 43.4 M 39.4 M 33.8 M 33.3 M 38.9 M 36.6 M 30.9 M 31.4 M 37.2 M 33.2 M 29.5 M 32.6 M 38.4 M 36.7 M 32.5 M 33.5 M 76.2 M 29 M 22.2 M 24.8 M 47 K 41.5 M 35.7 M 37.5 M 115 M 44.2 M 39.4 M 42.7 M 64.3 M 52.6 M 49.8 M 52.2 M 86.2 M 66.1 M 73.6 M -

Operating Income

 7.7 M 3.31 M 6.41 M 17.7 M 6.28 M 2.88 M 3.41 M 10.9 M 5.82 M -1.12 M -458 K 8.96 M 2 M 23.5 M -1.12 M 11.3 M 4.88 M 396 K -326 K 34 M 5.74 M 3.45 M 6.02 M 11.1 M 3.84 M 1.16 M -1.35 M 10.1 M 2.14 M -2.09 M -4.86 M 5.76 M 76 K -3.52 M -6.26 M 7.77 M -731 K -6.03 M -5.73 M -18.8 M -671 K -3.23 M -6.24 M 3.9 M 5.87 M -4.38 M -4.84 M 33.8 M -39.5 M -9.36 M -8.61 M 12.6 M 1.22 M -9.91 M -7.4 M 4.74 M 1.82 M -16.7 M -2.63 M 12.2 M -5.04 M 9.34 M 18.5 M

Interest Expense

 1.11 M 1.06 M 837 K 889 K 991 K 813 K 701 K 672 K 659 K 667 K 567 K 273 K 21 K 28 K 25 K 46 K 36 K 35 K 43 K 1.14 M 292 K 297 K 285 K 315 K 278 K 327 K 354 K 822 K 754 K 829 K 557 K 679 K 632 K 539 K 572 K 501 K 716 K 699 K 5.18 M 1.5 M 1.5 M 1.54 M 1.59 M 2.9 M 2.08 M 1.54 M 1.49 M -700 K 1.64 M 1.18 M 1.32 M 885 K 1.09 M 1.2 M 1.09 M 1.06 M 1.05 M 1.05 M 1.31 M 1.09 M 1.09 M 1.09 M 1.09 M

EBITDA

 15.7 M 11.1 M 14 M 24.6 M 11.8 M 7.58 M 7.21 M 14.4 M 9.02 M 2.18 M 2.54 M 11.1 M 3.72 M 25.2 M 139 K 13.1 M 6.44 M 1.92 M 1.2 M 35.5 M 7.67 M 5.24 M 7.92 M 13 M 5.62 M 3.03 M 544 K 12.2 M 4.13 M -154 K -2.81 M 7.87 M 2.18 M -1.44 M -4.16 M 10 M 1.43 M -3.91 M -3.58 M -18.8 M -667 K -3.32 M -6.14 M 3.9 M 5.97 M -4.28 M -4.74 M 33.9 M -39.4 M -9.26 M -8.51 M 12.8 M 1.32 M -9.81 M -7.3 M 4.84 M 1.92 M -16.6 M -2.53 M 12.4 M -4.34 M 9.54 M 25.4 M

Operating Expenses

 84.4 M 79.6 M 79.2 M 71.2 M 77.8 M 66.8 M 66.7 M 63.3 M 60.5 M 58.5 M 60.8 M 52.5 M 54.5 M 25.1 M 50.3 M 43.9 M 47 M 45.6 M 46.7 M 19 M 45.2 M 43.3 M 39.6 M 39.2 M 40.7 M 35.1 M 41.1 M 33.3 M 37.2 M 35.9 M 38.1 M 33.2 M 36.5 M 34.5 M 37.6 M 29.4 M 34 M 35.5 M 38.3 M 57.1 M 37.4 M 35.7 M 39.8 M 72.3 M 23.2 M 26.6 M 29.6 M -33.8 M 81 M 45.1 M 46.1 M 103 M 42.9 M 49.3 M 50.1 M 59.6 M 50.8 M 66.5 M 54.8 M 74 M 71.1 M 64.3 M -

General and Administrative Expenses

 84.3 M 79.6 M 79.2 M 71.2 M 77.8 M 67.1 M 66.9 M 62.1 M 63.3 M 57.9 M 60.5 M 52.5 M 54.5 M 51.8 M 50.3 M 42.9 M 47 M 45.8 M 46.7 M 40.8 M 45.2 M 43.3 M 39.6 M 39.2 M 40.7 M 35.2 M 41.1 M 33.7 M 37.5 M 35.9 M 38.1 M 33.2 M 36.1 M 34.5 M 37.5 M 29.4 M 35.5 M 35.6 M 38.3 M 35.1 M 37.4 M 35.8 M 40.2 M 70.8 M 22.7 M 26.6 M 29.6 M -16.3 M 41.7 M 45.1 M 46.1 M -22.1 M 43.2 M 45.6 M 50 M 31.6 M 50.8 M 52.3 M 54.8 M 24 M 60.7 M 64.2 M 67.9 M

All numbers in USD currency

The income statement is one of the three key financial reports of a company Lincoln Educational Services Corporation (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

Reports on the profits and losses of other stocks in the Education training industry

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