Strategic Education (STRA) FY2022 results: revenue $1.1 billion, down 5.9% on the year
Strategic Education, Inc. (STRA) reported revenue of $1.1 billion for fiscal 2022, the year ended 31 December 2022, down 5.9% on the year before. Net income was $47 million, down 15.3%, and diluted earnings per share $1.94. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.
Revenue
$1.1 billion
-5.9% on the year
FY2016FY2022
Operating margin
6.6%
6.5% a year earlier
FY2016FY2022
Net income
$47 million
-15.3% on the year
FY2016FY2022
Diluted EPS
$1.94
-14.9% on the year
FY2016FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
126
181
143
-30.2%
Capital expenditure
43.2
49.4
46.8
-12.7%
Free cash flow
82.9
131
96.1
-36.8%
Free cash flow margin
7.8%
11.6%
9.4%
Cash from investing
-31.4
-33.1
-642
Cash from financing
-142
-67.9
279
Depreciation and amortisation
52.0
59.1
51.8
-12.0%
Share-based compensation
21.8
18.1
14.6
+20.1%
Buybacks
40.1
5.9
0.2
+579.4%
Dividends paid
59.2
59.0
56.0
+0.3%
Dividend per share
$2.40
$2.40
$2.40
0.0%
Diluted shares, weighted
24m
24m
23m
-0.5%
Shares outstanding at period end
24m
25m
24m
-0.8%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,636
1,714
1,748
-4.6%
Debt
101
142
142
-28.4%
Operating lease liabilities
134
163
106
-17.7%
Other liabilities
291
287
300
+1.1%
Total liabilities and equity
2,162
2,306
2,296
-6.3%
Fixed assets
133
151
159
-11.8%
Goodwill
1,251
1,286
1,319
-2.7%
Intangible assets
261
276
326
-5.7%
Investments
22.3
29.9
37.8
-25.4%
Cash and equivalents
214
269
188
-20.5%
Receivables
63.0
51.3
50.2
+22.8%
Other assets
218
243
217
-10.2%
Total assets
2,162
2,306
2,296
-6.3%
10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.