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LINCOLN EDUCATIONAL SERVICES CORP (LINC) Annual Reports

Q: Where can I read LINCOLN EDUCATIONAL SERVICES CORP (LINC) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

LINCOLN EDUCATIONAL SERVICES CORP is listed on Nasdaq, classified by the SEC under Services-Educational Services (SIC 8200). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1286613 →

Financial Highlights

FY2026 Q2 (quarterly, ended 2026-06-30)
	Current	Prior year	YoY
Revenue	$142.6M	$116.5M	+22.4%
Operating income	$3.3M	$2.9M	+15.1%
Net income	$1.9M	$1.6M	+25.2%
EPS (diluted)	$0.06	$0.05	+20.0%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 143 mn Net income 1.95 mn

Show table：Income statement

Item	2009Q4	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	553	153	167	167	145	128	123	112	105	100	104	102	90.1	85.2	88.5	88.5	79.2	76.4	84.0	85.5	76.7	72.4	79.0	48.9	43.4	41.9	49.8	50.4	65.3	61.9	67.3	67.4	61.9	61.1	70.1	70.1	63.3	63.6	72.6	73.9	70.0	62.5	78.8	81.8	78.0	80.5	89.1	87.8	82.5	82.1	91.8	91.8	87.3	88.7	99.6	103	103	103	114	119	118	116	141	143	144	143
Operating income	88.3	23.0	32.4	42.0	18.5	9.34	-5.04	12.1	-4.09	-28.1	-2.46	6.99	-11.1	-14.4	-2.70	18.6	-9.40	-10.0	-42.3	13.2	-5.44	-6.21	4.63	7.80	-6.32	-2.84	1.04	3.06	-5.73	-6.03	-0.73	7.77	-6.26	-3.52	0.08	5.76	-4.86	-2.09	2.14	10.1	-1.35	1.16	3.84	11.1	6.02	3.45	5.75	34.0	-0.33	0.4	4.88	11.3	-1.12	23.5	2.00	8.96	-0.46	-1.12	5.82	10.9	3.41	2.88	6.29	17.7	6.41	3.31
Net income	49.2	13.2	18.9	23.2	10.4	4.93	-3.93	6.18	-3.05	-20.7	-1.48	-11.9	-7.49	-9.38	-2.28	-32.1	-11.1	-11.6	-38.1	4.64	-6.88	-7.60	2.58	8.56	-6.07	-3.14	-0.47	-18.6	-10.9	-6.77	-1.49	7.71	-6.87	-4.10	-0.6	5.03	-5.47	-3.06	1.34	9.21	-1.75	0.78	3.51	46.0	4.49	2.43	3.84	24.0	0.27	0.26	3.54	8.56	-0.11	17.3	2.06	6.79	-0.21	-0.68	3.95	6.83	1.94	1.55	3.80	12.7	4.36	1.95

Balance sheet

Quarterly · In mn (USD)

Total assets 530 mn Total liabilities 327 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2009Q4	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Current assets	—	—	—	117	—	78.7	73.7	72.7	72.5	73.3	73.5	99.5	57.0	53.8	61.6	104	44.5	45.9	43.5	113	79.4	80.9	107	105	89.2	79.4	91.2	66.3	59.3	52.8	40.2	44.7	37.9	36.7	44.4	57.1	37.7	40.2	44.4	50.5	42.5	61.0	66.8	74.2	70.8	72.5	111	122	113	111	111	114	108	137	131	135	119	119	115	111	86.4	79.6	77.3	87.0	76.4	106
Total assets	—	—	—	413	—	380	366	362	356	334	334	347	299	287	290	306	242	240	195	214	177	176	222	210	190	179	190	163	137	130	118	155	117	116	123	146	156	155	162	195	169	195	206	245	240	245	253	295	288	285	291	292	281	311	316	345	355	366	404	437	427	447	467	493	487	530
Current liabilities	—	—	—	122	—	92.1	81.3	71.1	69.5	67.7	70.5	58.6	56.9	55.9	63.3	56.6	54.0	69.8	68.5	83.5	53.3	59.6	64.1	71.5	74.2	65.5	76.6	68.0	57.1	56.9	53.4	47.5	46.5	47.7	55.4	64.6	59.8	62.8	68.1	57.2	51.1	68.6	71.3	66.8	60.5	62.5	68.9	65.9	55.0	58.2	59.9	55.0	54.6	68.7	66.1	73.4	59.9	66.9	73.5	90.2	83.1	88.3	95.9	101	92.3	111
Total liabilities	—	—	—	190	—	141	130	123	122	120	123	148	109	107	114	161	109	119	112	131	100	106	149	129	115	106	117	108	92.8	92.3	80.4	109	77.7	80.5	87.7	106	121	123	128	140	116	141	149	142	133	135	140	154	147	147	153	147	146	157	159	178	191	202	234	258	250	267	281	293	288	327
Equity	219	—	—	222	—	240	236	239	234	214	211	198	190	180	176	145	133	121	83.3	83.0	76.7	69.7	72.6	81.0	75.4	72.8	73.0	54.9	44.1	37.9	37.1	45.8	39.2	35.3	34.9	39.9	34.6	31.9	33.6	43.1	40.9	42.1	45.3	91.1	94.9	97.7	102	129	129	127	126	145	135	154	157	167	164	165	170	178	178	181	186	200	199	202

Cash flow

Quarterly · In mn (USD)

Operating 22.1 mn Investing -14.5 mn Financing 19.9 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2009Q4	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	73.2	24.9	43.1	46.4	15.0	4.11	8.02	9.66	5.68	-1.71	4.14	7.89	-4.22	-10.1	4.93	12.6	-8.38	-6.52	16.2	10.7	-6.30	-5.34	14.1	11.8	-9.17	-8.97	8.63	3.41	-11.5	-8.04	2.90	5.29	-10.0	-2.29	6.52	4.12	-10.9	0.14	5.89	5.88	-11.9	18.4	3.75	13.3	-8.30	9.37	16.7	9.70	-14.4	4.38	10.6	0.27	-0.21	10.6	-6.79	21.9	-14.9	8.34	5.61	30.3	-8.38	0.3	23.9	43.5	4.57	22.1
Investing	-51.6	-23.6	-9.98	-8.49	-11.5	-11.8	-6.78	-7.27	-2.69	-3.49	-1.99	-2.02	-0.57	-1.05	-1.16	-3.00	-0.58	-1.97	-2.18	-2.68	-0.68	-0.54	0.06	-0.61	-0.07	-0.23	-0.34	-1.54	-0.6	-1.17	12.7	-0.98	-0.47	-1.33	-0.07	-0.48	-0.64	-0.57	-1.85	-1.75	-1.29	-1.69	-0.48	-2.03	-1.22	-2.30	-1.74	43.1	-1.04	-0.15	-3.47	-16.7	-3.25	16.1	-17.8	12.3	8.03	-11.0	-19.2	-24.8	-19.6	-26.1	-21.9	-18.6	-14.6	-14.5
Financing	9.27	-19.2	-46.9	13.7	-25.9	-5.66	-5.40	-2.01	-1.91	-2.41	-1.71	35.4	-39.6	-1.92	-1.79	-2.94	3.16	8.16	-8.09	-8.43	-0.13	5.55	13.4	-5.24	-9.01	-0.01	0	-0.04	-0.29	7.71	-15.5	2.98	-30.7	1.84	-0.01	24.3	-24.2	1.24	0.73	18.8	-15.7	-0.5	-1.65	-0.8	-1.77	-0.8	-0.8	-16.6	-2.30	-2.84	-4.50	-2.91	-2.33	-0.61	0	0	-3.59	-0.08	0.56	-0.22	-2.60	13.9	-5.24	-9.90	-1.76	19.9
Cash at period end	46.1	28.2	14.4	66.0	43.7	30.3	26.1	26.5	27.6	20.0	20.4	61.7	17.3	4.27	6.25	12.9	7.09	6.76	12.7	12.3	5.18	4.85	32.4	38.4	20.2	10.9	19.2	21.1	8.71	7.21	7.28	14.6	4.86	3.08	10.2	17.6	5.68	6.49	11.8	23.6	9.74	23.3	26.5	38.0	26.7	33.0	47.1	83.3	65.6	67.0	69.6	46.1	40.3	66.4	41.7	76.0	68.5	67.0	54.0	59.3	28.7	16.7	13.5	28.5	16.7	44.2

Profitability

Quarterly · %

Operating margin 2.3% Net margin 1.4%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2009Q4	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating margin	16.0%	15.0%	19.4%	25.1%	12.7%	7.3%	-4.1%	10.8%	-3.9%	-28.0%	-2.4%	6.8%	-12.3%	-16.9%	-3.0%	21.0%	-11.9%	-13.1%	-50.4%	15.4%	-7.1%	-8.6%	5.9%	16.0%	-14.6%	-6.8%	2.1%	6.1%	-8.8%	-9.8%	-1.1%	11.5%	-10.1%	-5.8%	0.1%	8.2%	-7.7%	-3.3%	3.0%	13.6%	-1.9%	1.9%	4.9%	13.6%	7.7%	4.3%	6.5%	38.8%	-0.4%	0.5%	5.3%	12.3%	-1.3%	26.5%	2.0%	8.7%	-0.4%	-1.1%	5.1%	9.2%	2.9%	2.5%	4.5%	12.4%	4.5%	2.3%
Net margin	8.9%	8.6%	11.3%	13.9%	7.1%	3.8%	-3.2%	5.5%	-2.9%	-20.6%	-1.4%	-11.7%	-8.3%	-11.0%	-2.6%	-36.3%	-14.0%	-15.2%	-45.3%	5.4%	-9.0%	-10.5%	3.3%	17.5%	-14.0%	-7.5%	-0.9%	-37.0%	-16.7%	-10.9%	-2.2%	11.4%	-11.1%	-6.7%	-0.9%	7.2%	-8.6%	-4.8%	1.9%	12.4%	-2.5%	1.3%	4.5%	56.3%	5.8%	3.0%	4.3%	27.3%	0.3%	0.3%	3.9%	9.3%	-0.1%	19.5%	2.1%	6.6%	-0.2%	-0.7%	3.5%	5.7%	1.6%	1.3%	2.7%	8.9%	3.0%	1.4%

Returns & leverage

Quarterly · %

ROE 11.9% ROA 4.7% Debt ratio 61.8%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2009Q4	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	47.0%	—	23.9%	14.6%	7.6%	1.8%	-9.5%	-8.5%	-17.0%	-19.6%	-15.4%	-16.0%	-29.9%	-33.9%	-37.9%	-71.5%	-49.2%	-49.4%	-50.3%	-9.3%	-4.1%	-3.3%	2.7%	-1.5%	-41.6%	-55.5%	-66.5%	-68.7%	-22.8%	-17.8%	-13.0%	-10.8%	-15.3%	-13.9%	-12.2%	-6.3%	4.8%	15.2%	25.9%	29.8%	72.4%	80.7%	80.8%	77.1%	31.5%	27.3%	25.3%	24.6%	9.2%	9.3%	20.8%	19.6%	16.7%	17.3%	5.0%	6.0%	5.7%	7.0%	8.3%	7.9%	10.6%	11.9%	11.9%
ROA	—	—	—	25.3%	—	15.1%	9.4%	4.5%	1.2%	-6.0%	-5.4%	-10.5%	-12.7%	-9.8%	-10.0%	-15.7%	-20.3%	-21.7%	-38.3%	-21.6%	-24.8%	-23.1%	-3.5%	-1.6%	-1.4%	1.1%	-0.5%	-15.2%	-20.3%	-23.8%	-24.6%	-7.2%	-5.8%	-3.9%	-3.2%	-4.3%	-3.8%	-3.0%	-1.5%	1.2%	3.5%	5.5%	6.4%	22.1%	26.8%	25.7%	24.7%	12.8%	11.6%	10.7%	10.3%	4.3%	4.3%	9.8%	9.2%	8.2%	8.1%	2.4%	2.7%	2.5%	3.1%	3.5%	3.2%	4.3%	4.9%	4.7%
Debt ratio	—	—	—	46.1%	—	37.0%	35.5%	34.0%	34.2%	36.0%	36.8%	42.8%	36.3%	37.2%	39.2%	52.5%	44.9%	49.6%	57.4%	61.2%	56.7%	60.3%	67.3%	61.5%	60.4%	59.3%	61.7%	66.3%	67.8%	70.9%	68.4%	70.5%	66.4%	69.5%	71.6%	72.7%	77.8%	79.4%	79.2%	71.7%	68.8%	72.3%	72.2%	58.0%	55.5%	55.1%	55.0%	52.1%	51.1%	51.5%	52.6%	50.3%	51.9%	50.4%	50.2%	51.7%	53.7%	55.0%	57.9%	59.2%	58.4%	59.6%	60.2%	59.5%	59.1%	61.8%

EPS

Quarterly · US$

EPS US$0.06

Show table：EPS

Item	2009Q4	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（US$）	1.82	0.50	0.76	0.99	0.46	0.22	-0.18	0.28	-0.14	-0.93	-0.07	-0.54	-0.33	-0.42	-0.10	-1.42	-0.49	-0.51	-1.67	0.20	-0.30	-0.33	0.11	0.37	-0.26	-0.13	-0.02	-0.76	-0.46	-0.28	-0.06	0.31	-0.28	-0.17	-0.02	0.20	-0.22	-0.12	0.05	0.33	-0.08	0.02	0.08	1.44	0.13	0.06	0.11	0.74	0.00	0.00	0.10	0.26	0.00	0.57	0.07	0.22	-0.01	-0.02	0.13	0.22	0.06	0.05	0.12	0.41	0.14	0.06

Revenue & profit

Year-to-date · In mn (USD)

Revenue 287 mn Net income 6.30 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 530 mn Total liabilities 327 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating 26.6 mn Investing -29.1 mn Financing 18.1 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Operating margin 3.4% Net margin 2.2%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 11.9% ROA 4.7% Debt ratio 61.8%

EPS

Year-to-date · US$

EPS US$0.20

Revenue & profit

Annual · In mn (USD)

Revenue 518 mn Net income 20.0 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	509	412	352	325	277	185	262	263	273	293	335	348	378	440	518
Operating income	34.9	-27.7	-9.56	-48.5	0.78	-5.06	-4.72	-3.95	5.24	14.8	49.3	16.3	33.4	15.2	30.3
Net income	17.5	-37.2	-51.3	-56.1	-3.35	-28.3	-11.5	-6.54	2.02	48.6	34.7	12.6	26.0	9.89	20.0

Balance sheet

Annual · In mn (USD)

Total assets 493 mn Total liabilities 293 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Current assets	72.7	99.5	104	113	105	66.3	44.7	57.1	50.5	74.2	122	114	135	111	87.0
Total assets	362	347	306	214	210	163	155	146	195	245	295	292	345	437	493
Current liabilities	71.1	58.6	56.6	83.5	71.5	68.0	47.5	64.6	57.2	66.8	65.9	55.0	73.4	90.2	101
Total liabilities	123	148	161	131	129	108	109	106	140	142	154	147	178	258	293
Equity	239	198	145	83.0	81.0	54.9	45.8	39.9	43.1	91.1	129	145	167	178	200

Cash flow

Annual · In mn (USD)

Operating 59.3 mn Investing -86.2 mn Financing -3.87 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating	36.8	16.0	3.25	12.0	14.3	-6.11	-11.3	-1.69	0.99	23.5	27.4	0.88	25.6	29.3	59.3
Investing	-37.4	-10.2	-5.79	-7.40	-1.77	-2.18	9.92	-2.35	-4.81	-5.48	37.9	-21.4	7.37	-47.0	-86.2
Financing	-38.9	29.4	-46.3	-5.20	13.6	-9.07	-5.10	-4.57	-3.48	-18.6	-20.0	-12.6	-2.94	-3.33	-3.87
Cash at period end	26.5	61.7	12.9	12.3	38.4	21.1	14.6	17.6	23.6	38.0	83.3	46.1	76.0	59.3	28.5

Profitability

Annual · %

Operating margin 5.8% Net margin 3.9%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating margin	6.9%	-6.7%	-2.7%	-14.9%	0.3%	-2.7%	-1.8%	-1.5%	1.9%	5.0%	14.7%	4.7%	8.8%	3.5%	5.8%
Net margin	3.5%	-9.0%	-14.6%	-17.3%	-1.2%	-15.3%	-4.4%	-2.5%	0.7%	16.6%	10.3%	3.6%	6.9%	2.3%	3.9%

Returns & leverage

Annual · %

ROE 10.6% ROA 4.3% Debt ratio 59.5%

Show table：Returns & leverage

Item	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
ROE	7.3%	-17.0%	-29.9%	-49.2%	-4.1%	-41.6%	-22.8%	-15.3%	4.8%	72.4%	31.5%	9.2%	16.7%	5.7%	10.6%
ROA	4.8%	-10.5%	-15.7%	-21.6%	-1.6%	-15.2%	-7.2%	-4.3%	1.2%	22.1%	12.8%	4.3%	8.2%	2.5%	4.3%
Debt ratio	34.0%	42.8%	52.5%	61.2%	61.5%	66.3%	70.5%	72.7%	71.7%	58.0%	52.1%	50.3%	51.7%	59.2%	59.5%

EPS

Annual · US$

EPS US$0.64

Show table：EPS

Item	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
EPS（US$）	0.78	-1.68	-2.27	-2.47	-0.15	-1.17	-0.49	-0.27	0.04	1.46	1.04	0.36	0.86	0.32	0.64

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read LINCOLN EDUCATIONAL SERVICES CORP (LINC) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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