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Phoenix Education Partners, Inc., through its subsidiary, The University of Phoenix, Inc., provides online higher education for working adults in the United States. It develops talent solutions programs for employers, including a talent-sourcing platform that connects employers with students whose skills profiles align with job postings; and an AI-powered tool that scans an employer's inventory of sought-after skills and designs development pathways to internal job opportunities. The company was formerly known as AP VIII Queso Holdings, L.P. and changed its name to Phoenix Education Partners, Inc. in September 2025. The company was founded in 1976 and is headquartered in Phoenix, Arizona. Phoenix Education Partners, Inc. operates as a subsidiary of Ap Viii Socrates Holdings, L.P.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.0B | $205M | $134M | $65M | 55.8% | 6.0% | 18.3% |
| 2024 | $950M | $189M | $113M | $141M | 32.4% | 13.7% | 74.2% |
| 2023 | $835M | $113M | $65M | $90M | 21.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 835.25 | 950.01 | 1,007.19 |
| Cost Of Revenue | 379.26 | 403.92 | 435.99 |
| Gross Profit | 455.99 | 546.09 | 571.20 |
| Operating Expense | 328.78 | 343.99 | 352.63 |
| Operating Income | 127.20 | 202.10 | 218.57 |
| EBITDA | 113.31 | 189.26 | 204.60 |
| EBIT | 89.41 | 168.20 | 182.59 |
| Pretax Income | 87.64 | 167.24 | 182.11 |
| Tax Provision | 21.71 | 52.09 | 46.67 |
| Net Income | 64.93 | 113.13 | 133.88 |
| Net Income Common Stockholders | 64.93 | 113.13 | 133.88 |
| Total Expenses | 708.04 | 747.92 | 788.63 |
| Interest Expense | 1.77 | 0.96 | 0.48 |
| Interest Income | 8.53 | 16.69 | 10.46 |
| Selling General And Administration | 328.78 | 343.99 | 352.63 |
| Normalized EBITDA | 158.85 | 239.37 | 251.04 |
| Normalized Income | 99.17 | 147.66 | 168.43 |
| Basic EPS | 0 | 0 | 3.76 |
| Diluted EPS | 0 | 0 | 3.76 |
| Tax Effect Of Unusual Items | -11.29 | -15.59 | -11.89 |
| Tax Rate For Calcs | 0.25 | 0.31 | 0.26 |
| Total Unusual Items | -45.53 | -50.11 | -46.44 |
| Total Unusual Items Excluding Goodwill | -45.53 | -50.11 | -46.44 |
| Net Income From Continuing Operation Net Minority Interest | 64.93 | 113.13 | 133.88 |
| Reconciled Depreciation | 23.91 | 21.06 | 22.01 |
| Reconciled Cost Of Revenue | 379.26 | 403.92 | 435.99 |
| Net Interest Income | 6.76 | 15.73 | 9.98 |
| Net Income From Continuing And Discontinued Operation | 64.93 | 113.13 | 133.88 |
| Total Operating Income As Reported | 81.67 | 151.99 | 172.13 |
| Diluted Average Shares | 0 | 0 | 35.60 |
| Basic Average Shares | 0 | 0 | 35.60 |
| Diluted NI Availto Com Stockholders | 62.61 | 113.13 | 133.88 |
| Average Dilution Earnings | -2.32 | -5.24 | 0 |
| Minority Interests | -1 | -2.02 | -1.56 |
| Net Income Including Noncontrolling Interests | 65.93 | 115.15 | 135.44 |
| Net Income Continuous Operations | 65.93 | 115.15 | 135.44 |
| Other Income Expense | -46.32 | -50.59 | -46.44 |
| Other Non Operating Income Expenses | -0.79 | -0.47 | 0 |
| Special Income Charges | -49.26 | -37.39 | -46.44 |
| Other Special Charges | 4.79 | 0 | 0 |
| Write Off | 11.51 | 0.21 | 0 |
| Restructuring And Mergern Acquisition | 32.96 | 37.39 | 46.44 |
| Gain On Sale Of Security | 3.73 | -12.73 | 0 |
| Net Non Operating Interest Income Expense | 6.76 | 15.73 | 9.98 |
| Interest Expense Non Operating | 1.77 | 0.96 | 0.48 |
| Interest Income Non Operating | 8.53 | 16.69 | 10.46 |
| General And Administrative Expense | 328.78 | 343.99 | 352.63 |
| Other Gand A | 328.78 | 343.99 | 352.63 |
| Operating Revenue | 835.25 | 950.01 | 1,007.19 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Phoenix Education Partners, Inc.this co. | PXED | $979M | 10.05↓ discount | 3.48 | 55.8% | 4.56 |
| Edgewell Personal Care Company | EPC | $1.1B | 43.06 | 0.70 | 1.6% | 12.29 |
| American Public Education, Inc. | APEI | $1.1B | 41.13 | 3.54 | 10.7% | 14.96 |
| Coursera, Inc. | COUR | $1.0B | - | 1.63 | -8.0% | -3.74 |
| Mission Produce, Inc. |
| AVO |
| $974M |
| 29.89 |
| 1.66 |
| 6.1% |
| 11.51 |
| John B. Sanfilippo & Son, Inc. | JBSS | $952M | 16.20 | 2.65 | 16.3% | 9.32 |
| Seneca Foods Corporation | SENEA | $927M | 10.38 | 1.29 | 6.5% | 6.69 |
| SunOpta Inc. | STKL | $769M | 49.85 | 4.49 | 9.2% | 13.09 |
| Udemy, Inc. | UDMY | $709M | 162.00 | 3.41 | 1.8% | 62.74 |
| Peer Median | - | 41.13 | 2.15 | 6.3% | 11.90 | |