Strategic Education (STRA) FY2023 results: revenue $1.1 billion, up 6.3% on the year
Strategic Education, Inc. (STRA) reported revenue of $1.1 billion for fiscal 2023, the year ended 31 December 2023, up 6.3% on the year before. Net income was $70 million, up 49.5%, and diluted earnings per share $2.91. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$1.1 billion
+6.3% on the year
FY2016FY2023
Operating margin
8.4%
6.6% a year earlier
FY2016FY2023
Net income
$70 million
+49.5% on the year
FY2016FY2023
Diluted EPS
$2.91
+50.0% 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
117
126
181
-7.1%
Capital expenditure
36.9
43.2
49.4
-14.4%
Free cash flow
80.2
82.9
131
-3.3%
Free cash flow margin
7.1%
7.8%
11.6%
Cash from investing
-48.5
-31.4
-33.1
Cash from financing
-114
-142
-67.9
Depreciation and amortisation
48.4
52.0
59.1
-6.9%
Share-based compensation
19.8
21.8
18.1
-9.3%
Buybacks
10.0
40.1
5.9
-75.1%
Dividends paid
58.8
59.2
59.0
-0.8%
Dividend per share
$2.40
$2.40
$2.40
0.0%
Diluted shares, weighted
24m
24m
24m
-0.2%
Shares outstanding at period end
24m
24m
25m
+0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,653
1,636
1,714
+1.0%
Debt
61.4
101
142
-39.4%
Operating lease liabilities
128
134
163
-4.7%
Other liabilities
284
291
287
-2.4%
Total liabilities and equity
2,125
2,162
2,306
-1.7%
Fixed assets
119
133
151
-10.8%
Goodwill
1,252
1,251
1,286
+0.0%
Intangible assets
252
261
276
-3.4%
Investments
40.2
22.3
29.9
+80.5%
Cash and equivalents
168
214
269
-21.1%
Receivables
76.1
63.0
51.3
+20.9%
Other assets
218
218
243
+0.1%
Total assets
2,125
2,162
2,306
-1.7%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.