Perdoceo Education (PRDO) FY2023 results: revenue $710 million, up 2.1% on the year
Perdoceo Education Corp. (PRDO) reported revenue of $710 million for fiscal 2023, the year ended 31 December 2023, up 2.1% on the year before. Net income was $148 million, up 54.0%, and diluted earnings per share $2.18. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$710 million
+2.1% on the year
FY2016FY2023
Operating margin
21.2%
18.6% a year earlier
FY2016FY2023
Net income
$148 million
+54.0% on the year
FY2016FY2023
Diluted EPS
$2.18
+56.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
112
148
191
-24.4%
Capital expenditure
6.4
12.6
10.5
-49.2%
Free cash flow
106
136
181
-22.1%
Free cash flow margin
14.9%
19.5%
26.1%
Cash from investing
-88.5
-327
54.3
Cash from financing
-23.4
-27.7
-29.9
Depreciation and amortisation
16.9
19.7
16.8
-14.4%
Share-based compensation
8.1
8.8
15.0
-7.7%
Buybacks
8.3
23.1
25.3
-64.1%
Dividends paid
14.4
n/a
n/a
Dividend per share
$0.22
n/a
n/a
Diluted shares, weighted
68m
69m
71m
-1.7%
Shares outstanding at period end
66m
67m
69m
-2.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
841
726
650
+15.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
21.3
27.3
35.5
-21.8%
Other liabilities
145
204
162
-29.2%
Total liabilities and equity
1,007
957
847
+5.2%
Fixed assets
21.4
26.0
28.4
-17.9%
Goodwill
241
244
163
-1.0%
Intangible assets
36.2
53.6
32.2
-32.4%
Investments
485
399
174
+21.5%
Cash and equivalents
118
109
320
+7.9%
Inventory
5.0
1.9
0.9
+162.8%
Other assets
100
124
129
-18.8%
Total assets
1,007
957
847
+5.2%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.