Buy Like Buffett
Watchlist

Flagship explainer

How AMERICAN PUBLIC EDUCATION, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$649M · 100%Cost of revenue$297M · 46%Gross profit$352M · 54%Operating income$47.9M · 7%Income before tax$43.7M · 7%Income tax$12.1M · 2%Net income$31.6M · 5%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$649M100%
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
Cost of revenue$297M46%
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
$352M54%
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
$47.9M7%
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
Income before tax$43.7M7%
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
Income tax$12.1M2%
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
$31.6M5%
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001201792-26-000004 · filed Mar 12, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
Embed this chart

View the full AMERICAN PUBLIC EDUCATION, INC. analysis at Buy Like Buffett