Lincoln Educational Services Corporation (LINC) Stock

Lincoln Educational Services Corporation (LINC) is a Consumer Discretionary stock trading at $26.14 (as of 2026-08-20), with a market capitalization of $829.04M and a trailing P/E of 57.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Lincoln Educational Services Corporation provides career-focused post-secondary education in the U.S. through programs in transportation and skilled trades, and in healthcare and other professions. It offers diploma, certificate, and associate’s degree training across fields such as automotive, skilled trades, health science, hospitality, and information technology for high school graduates and working adults.

Understand Lincoln Educational Services Corporation: how it makes money

Lincoln Educational Services provides career-oriented post-secondary education (associate degree, diploma, and certificate programs) to high school graduates and working adults, and it makes money by enrolling students in its campus programs across its course offerings.

Earnings are primarily a function of student demand and retention, with profitability influenced by the economics of acquiring students (cost per student start and marketing cost per student start) and by how the student population changes over time.

Business quality (Mixed): The company’s operating indicators are available (student starts, student population, and acquisition cost metrics), but the segment revenue breakdown provided here does not align cleanly with the company’s stated two reportable segments, limiting how precisely segment-level performance can be assessed.

Valuation: At 67× earnings, LINC trades 303% above the Personal Services average (17×). Note: one-time items can distort reported P/E.

Bull case

Student acquisition costs have improved: The cost per student start decline rate is 14.0% and the marketing cost per student start decrease is 20.0% in the period.
Meaningful enrollment base at quarter end: End of Period Student Population is 18,702, split across Transportation and Skilled Trades (9,639) and Healthcare and Other Professions (4,162).

Bear case

Enrollment can be shrinking: The Average Student Population Decline Rate is 18.2%, and the Healthcare and Other Professions Student Stock Decline is 6.3%.
Operating profitability is relatively thin versus gross profit: Gross margin is 59.4%, but operating margin is 4.5% (implying operating costs and other expenses absorb most of the gross profit).

Valuation — source: SEC EDGAR (first-party)
Price	$26.14
Market Cap	$829.04M
P/E Ratio	57.3
EV / EBITDA	16.2
Price / Book	4.10
Price / Sales	1.45
FCF Yield	-9.0%
DCF Value (model)	$14.96
DCF Upside vs Price	-42.8%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$518.24M
Net Margin	3.9%
Revenue Growth (YoY)	17.8%
EPS Growth (YoY)	103.1%
FCF Growth (YoY)	-0.9%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.21 (safe)

Valuation vs Sector & Industry
Stock P/E	57.3
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Personal Services)	13.9
vs Sector	180.0%
vs Industry	314.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($88.78M)
Institutional Holders Tracked	10

Company
Sector	Consumer Discretionary
Industry	Personal Services
CEO	Scott Shaw
Employees	1,875
Country	US
IPO Date	2005-06-23

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.