# Perdoceo Education Corporation (PRDO)

> Source: Nexqual · https://nexqual.com/PRDO · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Perdoceo Education Corporation (PRDO), nexqual.com/PRDO" · informational, not investment advice.

**Price:** USD 33.82 (+3.14% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 32.79 · day 32.79–33.86 · 52w 26.66–38.5 · market cap $2.12B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $859M, net income $177M (20.6% margin), free cash flow $218M (SEC filings).
- Valuation: P/E 11.9x (avg 10.8x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold PRDO (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $4.4M; 5 not under a Rule 10b5-1 plan ($1.7M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Strong Buy (mean 1.00 on a 1–5 scale) (1 analysts), mean target USD 44 (range 44–44).
- Total return with dividends: 1Y -6.3% vs S&P 500 +14.9%; 5Y +242.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.74, revenue estimate $211M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $693M | $695M | $710M | $681M | $846M | $859M |
| Operating income | $149M | $130M | $150M | $174M | $196M | $211M |
| Net income | $110M | $95.9M | $148M | $148M | $160M | $177M |
| EPS (diluted) | $1.55 | $1.39 | $2.18 | $2.19 | $2.42 | — |
| Free cash flow | $181M | $136M | $106M | $157M | $217M | $218M |
| Operating margin | 21.5% | 18.6% | 21.2% | 25.6% | 23.2% | 24.6% |
| Net margin | 15.8% | 13.8% | 20.8% | 21.7% | 18.9% | 20.6% |
| Revenue growth | +0.8% | +0.3% | +2.1% | -4.0% | +24.2% | — |
| Cash + short-term investments | $494M | $509M | $603M | $569M | $622M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 11.9x · P/S 2.5x · P/FCF 9.7x · P/B 2.0x · FCF yield 10.30% · Earnings yield 8.37% · Buyback yield (TTM) 4.24%
P/E at fiscal year-ends: Dec 2025 12.1x, Dec 2024 12.1x, Dec 2023 8.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold PRDO. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Miller | Miller Value Partners | 0.30% | $1.3M | Reduced -0.3% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-15 | Nelson Todd S | President and CEO | 46,199 | $1.5M | 13.3% | Yes (adopted May 14, 2026) | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-08-11 | Jackson Gregory L. | Director | 11,271 | $358K | 14.8% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-04 | Gonzales Kenda B | Director | 9,308 | $324K | 16.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-13 | Peppers Michele A | Principal Accounting Officer | 14,000 | $483K | 28.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-12 | Leeman Julia A. | SVP - Campus Operations | 11,315 | $402K | 34% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-12 | Gross Patrick W | Director | 3,647 | $128K | 3.1% | No | Too little history (no open-market trades in 2025) |
| 2026-04-06 | Jansen Greg E. | SVP, General Counsel | 30,158 | $1.1M | 26.7% | Yes (adopted November 7, 2025) | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Strong Buy (mean 1.00 on a 1–5 scale), 1 analysts; mean target USD 44 (low 44, high 44).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -6.3% | +242.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -6.4% | +27.9% |
| Volatility (annualized) | 35.6% | 35.4% |
| Max drawdown | -26.0% (Oct 2025→Nov 2025) | -26.1% (Jul 2022→Sep 2022) |

## Peers (Education & Training Services)
DAO (Youdao, Inc.) USD 19.35 +4.59% · STRA (Strategic Education, Inc.) USD 81.59 +2.56% · MH (McGraw Hill, Inc.) USD 14.8 +1.93% · COUR (Coursera, Inc.) USD 5.07 +2.01% · LRN (Stride, Inc.) USD 80.68 +5.62% · AFYA (Afya Limited) USD 14.91 +0.07%

## More
Full page: https://nexqual.com/PRDO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Tuition & Fees Net | $212.1M | 99.4% | +1.8% |
| Product & Service Other | $1.2M | 0.6% | +1.9% |
| Total revenue | $213.4M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.74 | $0.74 | +0.0% | $211.1M | 1 |
| Next quarter (ends 2026-12-31) | $0.70 | $0.69 | +1.4% | $208.3M | 1 |
| Current fiscal year (ends 2026-12-31) | $3.13 | $3.11 | +0.6% | $854.5M | 1 |
| Next fiscal year (ends 2027-12-31) | $3.30 | $3.34 | -1.2% | $880.0M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±9.7%; last 8 reports averaged ±6.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 40.8% | ±9.7% |
| 2026-12-18 | 56 | 35.0% | ±11.5% |
| 2027-01-15 | 84 | 32.8% | ±13.1% |
| 2027-04-16 | 175 | 34.1% | ±19.1% |
| 2027-05-21 | 210 | 35.9% | ±21.9% |