olivLaw · US equity research
Legacy Education Inc. LGCY
Services-Educational Services · SIC 8200 · Vertical: Services-Educational Services (SIC 8200)
Legacy Education Inc. runs four career-focused post-secondary colleges in California, centred on healthcare and medical programs for adults who want to enter the job market quickly. In fiscal 2026 revenue grew 24.8% to 80.1 million USD, showing continued demand for these programs in a heavily regulated sector that depends on federal Title IV funding.
At the close of 04 Nov 2026, Legacy Education Inc. (LGCY) stock was 9.22 USD (−2.12% on the day), with market capitalisation 118.1 m USD, P/E 14.0 on diluted EPS of 0.66 USD over the last 12 months, beta 0.94, 52-week range 8.15–14.33 USD. Latest reported quarter (Q4 2026): revenue of 20.1 m USD (+12.0% YoY), net income of 1.9 m USD (+53.3% YoY), diluted EPS 0.14 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 32.4
- weak (30–45)
- Bollinger (20, 2)
- 9.42 – 10.77
- below the lower band · %B -0.15 · band width 13.4%
- SMA 50 / 200
- 10.18 / 11.41
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.18 / -0.08
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −5.7% | −1.1% | −4.6 pp | — |
| 3 months | −23.0% | −0.5% | −22.6 pp | — |
| 6 months | −18.3% | +4.4% | −22.7 pp | — |
| Year to date | −9.5% | +12.3% | −21.8 pp | — |
| 1 year | +6.5% | +13.5% | −7.1 pp | −30.6% |
| 3 years | unavailable | +76.4% | unavailable | −16.5% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q4 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.0 m | 13.6 m | 18.6 m | 18.0 m | 19.4 m | 19.2 m | 21.4 m | 20.1 m |
| Operating income | 2.7 m | 1.7 m | 3.7 m | 2.0 m | 2.7 m | 2.6 m | 3.9 m | 2.6 m |
| Depreciation & amortisation | 81.1 k | 105.8 k | 130.1 k | 124.7 k | 123.8 k | 173.5 k | 155.8 k | 191.0 k |
| Interest expense | 29.4 k | 28.3 k | 26.3 k | 28.7 k | 44.0 k | 8.2 k | 8.1 k | 7.9 k |
| Pre-tax income | 2.9 m | 1.9 m | 3.9 m | 2.2 m | 3.0 m | 2.9 m | 4.2 m | 2.6 m |
| Income tax | 813.1 k | 526.0 k | 1.1 m | 1.0 m | 786.6 k | 831.7 k | 1.2 m | 706.0 k |
| Net income | 2.1 m | 1.4 m | 2.8 m | 1.2 m | 2.2 m | 2.0 m | 3.0 m | 1.9 m |
| Diluted EPS | 0.21 | 0.10 | 0.21 | 0.09 ≈ | 0.16 | 0.15 | 0.22 | 0.14 ≈ |
| Operating cash flow | 3.2 m | 659.0 k ≈ | 918.7 k ≈ | 3.0 m | 1.1 m | 1.1 m ≈ | 764.4 k ≈ | 1.2 m |
| Capex | 235.8 k | 192.3 k ≈ | 322.1 k ≈ | 94.2 k | 246.7 k | 542.9 k ≈ | 248.6 k ≈ | 307.7 k |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 38 percentile of its own 8-quarter history (min 7.3, median 16.8, max 20.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 35.5 m | 46.0 m | 64.2 m | 80.1 m |
| Revenue YoY | unavailable | +29.7% | +39.5% | +24.8% |
| Net income | 2.7 m | 5.1 m | 7.5 m | 9.1 m |
| Net income YoY | unavailable | +91.8% | +47.3% | +21.3% |
| Diluted EPS | 0.28 | 0.53 | 0.59 | 0.66 |
| Diluted EPS YoY | unavailable | +89.3% | +11.3% | +11.9% |
| net % | 7.5% | 11.1% | 11.7% | 11.4% |
| Free cash flow | 1.6 m | 1.2 m | 6.9 m | 2.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 22.7 m USD
- Financial debt
- 80.4 k USD
- Net debt
- -22.7 m USD
- Equity
- 52.8 m USD
- Total assets
- 78.5 m USD
- Debt / equity
- 0.00x
- Current ratio
- 3.70x
- ROE
- 19.5%
- ROA
- 12.4%
- FCF margin
- 3.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 35.5 m | 46.0 m | 64.2 m | 80.1 m | SEC (XBRL)· 24 Sept 2026verified |
| Operating income | 3.6 m | 6.2 m | 10.0 m | 11.8 m | SEC (XBRL)· 24 Sept 2026verified |
| Depreciation & amortisation | 224.5 k | 265.0 k | 441.7 k | 644.1 k | SEC (XBRL)· 24 Sept 2026verified |
| EBITDA | 3.8 m ≈ | 6.5 m ≈ | 10.4 m ≈ | 12.5 m ≈ | SEC (XBRL)· 24 Sept 2026derived |
| Interest expense | 96.3 k | 118.2 k | 112.7 k | 68.2 k | SEC (XBRL)· 24 Sept 2026verified |
| Pre-tax income | 3.9 m | 7.0 m | 11.0 m | 12.7 m | SEC (XBRL)· 24 Sept 2026verified |
| Income tax | 1.2 m | 1.9 m | 3.5 m | 3.5 m | SEC (XBRL)· 24 Sept 2026verified |
| Net income | 2.7 m | 5.1 m | 7.5 m | 9.1 m | SEC (XBRL)· 24 Sept 2026verified |
| Diluted EPS | 0.28 | 0.53 | 0.59 | 0.66 | SEC (XBRL)· 24 Sept 2026verified |
| Weighted average diluted shares | 9.6 m | 9.7 m | 12.7 m | 13.9 m | SEC (XBRL)· 24 Sept 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 9.3 m | 10.4 m | 20.3 m | 22.7 m | SEC (XBRL)· 24 Sept 2026verified |
| Receivables | 7.2 m | 13.0 m | 15.1 m | 19.9 m | SEC (XBRL)· 24 Sept 2026verified |
| Current assets | 17.3 m | 24.6 m | 37.1 m | 45.8 m | SEC (XBRL)· 24 Sept 2026verified |
| Property, plant & equipment, net | 680.1 k | 990.0 k | 2.5 m | 3.2 m | SEC (XBRL)· 24 Sept 2026verified |
| Goodwill | 1.9 m | 1.9 m | 6.9 m | 6.8 m | SEC (XBRL)· 24 Sept 2026verified |
| Intangibles (excl. goodwill) | 1.1 m | 1.1 m | 3.9 m | 3.8 m | SEC (XBRL)· 24 Sept 2026verified |
| Total assets | 27.2 m | 35.2 m | 69.2 m | 78.5 m | SEC (XBRL)· 24 Sept 2026verified |
| Accounts payable | 2.6 m | 3.9 m | 4.9 m | 5.0 m | SEC (XBRL)· 24 Sept 2026verified |
| Short-term debt | 678.3 k | 574.2 k | 875.4 k | 53.4 k | SEC (XBRL)· 24 Sept 2026verified |
| Long-term debt | 45.3 k | 123.9 k | 481.3 k | 27.0 k | SEC (XBRL)· 24 Sept 2026verified |
| Current liabilities | 8.5 m | 10.5 m | 13.8 m | 12.4 m | SEC (XBRL)· 24 Sept 2026verified |
| Total liabilities | 11.8 m | 12.8 m | 28.2 m | 25.8 m | SEC (XBRL)· 24 Sept 2026verified |
| Equity | 15.4 m † | 22.4 m † | 41.0 m † | 52.8 m † | SEC (XBRL)· 24 Sept 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | 1.8 m | 1.6 m | 7.8 m | 4.0 m | SEC (XBRL)· 24 Sept 2026verified |
| Capex | 195.1 k | 423.7 k | 844.3 k | 1.3 m | SEC (XBRL)· 24 Sept 2026verified |
| Free cash flow | 1.6 m ≈ | 1.2 m ≈ | 6.9 m ≈ | 2.7 m ≈ | SEC (XBRL)· 24 Sept 2026derived |
| Investing cash flow | -195.1 k | -423.7 k | -7.0 m | -1.3 m | SEC (XBRL)· 24 Sept 2026verified |
| Financing cash flow | -1.1 m | -238.5 k | 9.1 m | -266.3 k | SEC (XBRL)· 24 Sept 2026verified |
| Dividends paid | 916.7 k | — | — | — | SEC (XBRL)· 01 Oct 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 71 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 118.1 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet89
- Growth100
- Valuation51
- Quality60
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.31 – 11.36 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)5.28 – 7.12 (Mid 6.00)WACC 9.3% · starting FCFF 2.7 m USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDA9.41 – 10.48 (Mid 9.94)5 companies used · median multiple 8.4x · quartiles 7.9x – 9.0xAPEI, LAUR, LFS, LINC, LRN
- Peers: P/E4.31 – 11.36 (Mid 8.17)15 companies used · median multiple 12.4x · quartiles 6.5x – 17.2xAPEI, CVSA, IH, LAUR, LFS, LINC, LOPE, LRN, PRDO, PXED, STG, STRA, TAL, VSA, YOUL
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 71/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 32.6% | 89 (vs peers) | 12% |
| Net margin · Quality | 11.4% | 71 (vs peers) | 7% |
| FCF conversion · Quality | 29.3% | 0 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 31.2% | 100 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 33.1% | 100 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | -1.8x | 78 (vs peers) | 12% |
| Interest coverage · Balance sheet | 173.3x | 100 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 3.7x | 100 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 14.0x | 53 (vs peers) | 12% |
| EV/EBITDA · Valuation | 7.7x | 67 (vs peers) | 12% |
| FCF yield · Valuation | 2.3% | 28 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet89/100 · 3/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality60/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation51/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
LEGACY EDUCATION INC. (LGCY). Latest full fiscal year: 2026; data up to 2026-06-30.
Figures computed from the financial statements: revenue 80.1 m USD in 2026; YoY growth 24.8%; net margin 11.4%; ROE 19.5%; net debt/EBITDA -1.8x.
The estimated value range is 5.28–10.48 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 8.17 USD, the price of 9.22 USD leaves a potential of -11.3% (value / price − 1) and a margin of safety of -12.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 71/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 32.6%
- Net margin: 11.4%
- Revenue CAGR 3Y: 31.2%
- EPS CAGR 3Y: 33.1%
- Net debt / EBITDA: -1.8x
- Interest coverage: 173.3x
- Current ratio: 3.7x
What contradicts it
- FCF conversion: 29.3%
- FCF yield: 2.3%
Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Educational Services (SIC 8200) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EDUNew Oriental Education & Technology Group Inc. | 80.7 bn | 169.7 | 12.4% | 8.4% | +15.5% | +2% / −36% |
| LAURLaureate Education, Inc. | 4.8 bn | 12.9 | 34.1% | 20.3% | +8.6% | +14% / +168% |
| CVSACovista Inc. | 4.1 bn | 17.0 | 17.9% | 12.8% | +9.3% | +34% / +118% |
| COE51Talk Online Education Group | 4.1 bn | — | — | -17.6% | +88.6% | −73% / +43% |
| LOPEGrand Canyon Education, Inc. | 3.8 bn | 16.1 | 35.9% | 21.9% | +7.1% | −4% / +10% |
| LRNStride, Inc. | 3.3 bn | 10.9 | 20.9% | 13.2% | +4.7% | +25% / +31% |
| NAMIJinxin Technology Holding Company | 2.6 bn | — | -89.7% | -22.8% | +6.1% | −89% / unavailable |
| DAOYoudao, Inc. | 2.5 bn | 159.2 | — | 1.6% | +9.6% | +105% / +397% |
| PRDOPerdoceo Education Corp | 1.9 bn | 10.9 | 17.6% | 20.6% | +24.2% | +7% / +72% |
| STRAStrategic Education, Inc. | 1.7 bn | 12.4 | 8.2% | 10.5% | +4.0% | −5% / −16% |
| YQ17 Education & Technology Group Inc. | 1.5 bn | — | -46.5% | -145.6% | −41.5% | −41% / +14% |
| UTIUniversal Technical Institute, Inc | 1.2 bn | 36.3 | 10.5% | 3.9% | +14.0% | −3% / +91% |
| PXEDPhoenix Education Partners, Inc. | 794.4 m | 9.5 | 30.1% | 8.7% | +1.0% | −36% / unavailable |
| APEIAmerican Public Education, Inc. | 776.2 m | 17.5 | 15.6% | 6.8% | +3.9% | +22% / +439% |
| LINCLincoln Educational Services Corporation | 637.9 m | 28.0 | 11.9% | 4.0% | +17.8% | −2% / +117% |
| JZJianzhi Education Technology Group Company Limited | 522.3 m | — | -44.4% | -22.4% | −70.6% | −98% / −100% |
| GOTUGaotu Techedu Inc. | 373.9 m | — | -20.8% | -5.3% | +40.9% | −0% / −9% |
| IHiHuman Inc. | 245.2 m | 22.8 | 10.0% | 11.8% | −8.7% | −60% / −59% |
| FEDUFour Seasons Education (Cayman) Inc. | 210.5 m | 46.6 | 6.8% | 12.1% | +7.6% | −30% / +13% |
| LXEHLixiang Education Holding Co. Ltd. | 155.2 m | — | -83.1% | -395.4% | −1.9% | −63% / −99% |
| LGCYLegacy Education Inc. | 118.1 m | 14.0 | 19.5% | 11.4% | +24.8% | +6% / unavailable |
| EEIQEpicQuest Education Group International Limited | 93.6 m | — | -34.8% | -27.2% | +9.6% | −23% / −81% |
| VSAVisionSys AI Inc | 81.8 m | 0.3 | — | 164,963.8% | −99.9% | −97% / −100% |
| CHGGChegg, Inc | 71.1 m | — | -30.7% | -17.2% | −39.0% | −34% / −94% |
| AMBOAmbow Education Holding Ltd. | 62.3 m | — | -2.9% | -2.6% | +0.8% | −61% / −10% |
1- and 3-year price returns: for LGCY from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 6.51 Total return -29% · Per year -29% | 11.46 Total return 24% · Per year 24% | 17.19 Total return 86% · Per year 86% |
| 3 years | 7.72 Total return -16% · Per year -6% | 15.15 Total return 64% · Per year 18% | 24.75 Total return 168% · Per year 39% |
| 5 years | 9.16 Total return -1% · Per year -0% | 20.04 Total return 117% · Per year 17% | 35.64 Total return 287% · Per year 31% |
- Exit P/E± 3.79
- Net margin± 2.65
- Annual revenue growth± 1.98
- Annual dilution± 0.22
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Legacy Education Inc. runs four career-focused post-secondary colleges in California, centred on healthcare and medical programs for adults who want to enter the job market quickly. In fiscal 2026 revenue grew 24.8% to 80.1 million USD, showing continued demand for these programs in a heavily regulated sector that depends on federal Title IV funding.
SWOT
Strengths
- Strong revenue and student growth in fiscal 2026, with a solid profitability profile.
- Institutional accreditation maintained across all four institutions, with long reaccreditation terms.
- Campuses located near hospitals and clinics, which facilitates externships and graduate job placement.
Weaknesses
- Strong geographic concentration in California, exposing the company to one state's regulation.
- High dependence on federal student financial aid programs.
- Marketing spend and bad debt costs rise as enrollments expand.
Opportunities
- Expansion into Texas and other states could open new student markets.
- Launching new programs, including online and healthcare offerings, could broaden the offering.
- Rising demand for medical workers could support long-term enrollment.
Threats
- Changes in federal or state rules could affect institutional eligibility.
- Growing competition from online providers and traditional colleges could pressure enrollments.
- Heightened scrutiny by consumer protection authorities over marketing practices could raise operating risks.
Risks
- Strict regulationhigh
Failure to meet educational requirements could lead to fines, loss of funding access or loss of accreditation.
- Dependence on Title IVhigh
A change in federal funding could directly reduce revenue and students' ability to pay.
- Geographic concentrationmedium
Predominant operation in California exposes the company to policy changes in a single state.
- Receivables and credit lossesmedium
Rising receivables and credit losses could weigh on margins if student payments slow.
- Execution of expansionmedium
Delays in approval of the Houston campus or new programs could postpone planned growth.
Investment thesis
What would need to be true (bull case)
- Rapid growth in revenue and students points to solid demand for the company's healthcare programs.
- Accreditation maintained across all institutions reduces the risk of operational interruption.
- If the Texas expansion and new program launches succeed, the company could diversify its revenue sources.
What would break the thesis
- Heavy dependence on federal funding could become a vulnerability if policies change.
- Rising marketing costs and credit losses could pressure margins.
- Competition from online providers could limit the ability to attract new students.
What to watch
- Opening of the Houston campus and regulatory approvalsQ1 2027
- Launch of new programs at Contra Costa Medical Career CollegeQ2 2027
- Development of receivables and credit lossesnext 10-K
- Trend in new student starts and total enrollment2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company provides career-focused post-secondary education to adults at different stages of life through four accredited institutions: High Desert Medical College, Central Coast College, Integrity College of Health and Contra Costa Medical Career College. Each campus is located near hospitals and clinics to support externships and job placement. As of June 30, 2026, 3,377 students were enrolled in total.
The growth strategy combines moderate growth in existing programs, launches of new programs including online offerings, and geographic expansion. The company signed a lease for a new campus in Houston, Texas, which it projects to open in November 2026, subject to regulatory and accreditation approvals. Goals also include acquiring institutions outside California.
The business model relies heavily on revenue from federal Title IV programs, and a significant share of students depend on financial aid. The company emphasises graduate success, retention and relationship-based marketing, where referrals represent about 20% of new enrollments.
Segments
Healthcare and medical education
Most programs, from vocational nursing and ultrasound technician to MRI, pharmacy technician and sterile processing, fall in healthcare. This forms the core of the offering and the main driver of demand.
Administrative and business programs
The company also offers medical administrative assisting, medical billing and coding, and accounting programs. These are a smaller part of the portfolio but diversify it beyond clinical training.
New programs and expansion
Programs being launched, such as those at Contra Costa Medical Career College and the EMT program at Integrity, show the direction of diversification. Launches depend on state approvals and accreditation.
Market context
The US post-secondary education sector is large and fragmented, and career colleges serve a small share of total undergraduates. Enrollment at proprietary colleges has grown, suggesting sustained demand for career-oriented education.
Long-term demand for healthcare workers is supported by an ageing population and a growing prevalence of chronic conditions, according to the Bureau of Labor Statistics. The market, however, depends on continued federal student funding, a factor that could significantly influence demand.
Trends
- Healthcare employment demandtailwind
Growth in healthcare jobs could support enrollments in the company's medical programs if this trend continues.
- Growing pool of high school graduatestailwind
A larger number of high school graduates could widen the pool of potential students for career programs.
- Dependence on federal fundingheadwind
Any reduction in Title IV funds could limit students' ability to pay and could directly affect revenue.
- Rising online competitionmixed
As online learning matures, competition from traditional colleges could intensify, which could affect enrollments.
Competitive position
The for-profit post-secondary sector is highly competitive and fragmented, and the company competes with public and private colleges as well as other accredited providers. Local rivals may have greater financial resources and brand recognition, and public institutions receive government subsidies.
Key factors in competitive position include program quality, graduate employment rates, perceived cost, ease of access and reputation. Alternative providers, including free massive open online courses, add pressure on pricing and on attracting students.
- San Joaquin Valley College
Local competing college in the San Joaquin Valley, named as a direct rival for students in the region.
- UEI College
Provider of medical and technical programs present in local markets where the company operates.
- Pima Medical Institute
Medical institute offering healthcare programs that compete for the same candidates.
- American Career College
Career college with medical programs that appears among the local competitors named in the filing.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Proxy statement26 Oct 2026
- Current report29 Sept 2026Results of operations · Financial statements and exhibits
- Annual report24 Sept 2026
- Current report05 Aug 2026Other events · Financial statements and exhibits
- Current report14 May 2026Results of operations · Financial statements and exhibits
- Quarterly report14 May 2026
- Current report17 Mar 2026Other events
- Quarterly report12 Feb 2026
- Current report07 Jan 2026Other events
- Current report16 Dec 2025Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / Legacy Education Inc. · 24 Sept 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Legacy Education Inc. · 29 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.