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Provides online K-12 curricula and virtual public schools, plus career-readiness and adult career-learning programs.
Provides online K-12 curricula and virtual public schools, plus career-readiness and adult career-learning programs.
Is paid mainly by public school systems: per-student state or district funding passes to Stride for the curriculum, technology and administration of virtual schools it runs, so enrolment and state funding rules decide revenue. Career-learning programmes for high-school and adult learners are a second line.
Moat: narrow (scale, regulatory licence, brand). Established relationships with state virtual-school programs and accreditation are hard for new entrants to replicate quickly.
Headquarters: Herndon, Virginia, United States · Founded: 2000 · Employees: 9,200
Size Stride (LRN) is a United States Consumer Discretionary company (Other Consumer Services) with a market value of $3.15B, the 1509th largest of 3,117 United States companies the cockpit tracks. Shares closed at $75.00 on 6 Nov 2026.
Performance Over six months the shares fell 14.7%, against +0.2% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 2.5% over the last twelve months (peer median +10.7%); the operating margin is 18.6% (peer median 11.6%).
Valuation It trades at 9.5× forward earnings against a peer median of 16.4× (5th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -19% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -29 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.6 points above its cost of capital (6.2% WACC).
Backlog Backlog (remaining performance obligations) was $100,000 at 30 Jun 2026, down 67% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit Stride has 1 bond outstanding ($420M).
Short interest Short interest is 17.8% of the free float (15 Oct 2026).
Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $2.54B | $2.52B | $2.41B | $2.04B | $1.84B |
| Revenue growth | — | +5% | +18% | +11% | — |
| Gross profit | $932M | $933M | $926M | $743M | $628M |
| EBITDA | $598M | $581M | $541M | $364M | $294M |
| Net income | $334M | $338M | $288M | $204M | $127M |
| Free cash flow | $505M | $433M | $431M | $277M | $197M |
| Capital expenditure | $81.6M | $78.8M | $60.0M | $61.6M | $68.0M |
| Total debt | $619M | $546M | $550M | $528M | $544M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Stride LRN | $3.15B | -15% | +2% | 19% | 9.5× | -19.1% |
| Perdoceo Education PRDO | $1.68B | -25% | +12% | 25% | 9.1× | -16.0% |
| Strategic Education STRA | $1.16B | -35% | +4% | 16% | 7.9× | -12.6% |
| Pearson PSON.L | $10.4B | +18% | +3% | 15% | 18.4× | 0.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LRN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.8% | +6.4% | 4th lowest of 21 |
| 6-month return | -14.7% | +0.2% | 7th lowest of 21 |
| Distance from 52-week high | -27.7% | -22.9% | 9th lowest of 21 |
| Revenue growth (TTM) | +2.5% | +10.7% | 4th lowest of 21 |
| Operating margin | 18.6% | 11.6% | 6th highest of 21 |
| Forward P/E | 9.5× | 16.4× | 5th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -19.1% | 6.9% | least demanding of 19 |
| Growth delivered (Del g) | +10.4% | +15.8% | 5th lowest of 19 |
| Hurdle (Req g minus delivered) | -29.5 pp | -15.7 pp | 4th least demanding of 19 |
| ROIC minus cost of capital | +18.6 pp | +3.7 pp | 4th highest of 20 |
| EV / EBITDA | 5.0× | 9.9× | 5th cheapest of 20 |
| Net debt / EBITDA | -0.3× | 1.4× | 6th least indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Stride LRN | United States | $3.15B | -15% | +2% | 19% | 9.5× | -19.1% | +10.4% |
| OneSpaWorld OSW | United States | $3.12B | +25% | +10% | 10% | 24.5× | 19.5% | +51.4% |
| Ferrotec (An Hui) Technology Development 301297.SZ | China | $3.21B | -30% | +37% | 10% | n/a | n/a | n/a |
| Tongcheng Travel 0780.HK | Hong Kong | $3.38B | -37% | +15% | 17% | 6.1× | -15.0% | +25.8% |
| Jet2 JET2.L | United Kingdom | $3.61B | +34% | +4% | 6% | 11.1× | n/a | n/a |
| Covista CVSA | United States | $3.67B | -18% | +9% | 20% | 12.0× | -3.7% | +16.6% |
| Marriott Vacations Worldwide VAC | United States | $3.80B | +43% | +5% | 11% | 11.4× | 7.7% | +11.8% |
| Indian Railway Catering & Tourism IRCTC.NS | India | $3.87B | -20% | +15% | 30% | 24.2× | 28.7% | +46.4% |
| Peloton Interactive PTON | United States | $2.50B | -1% | -2% | 9% | 18.7× | 7.2% | -9.5% |
| Boyd Group Services BYD.TO | Canada | $2.48B | -24% | +16% | 5% | 22.1× | 9.4% | +16.0% |
| Tui TUI1.DE | Germany | $4.31B | +17% | -2% | 4% | 7.4× | -2.0% | +24.9% |
| Valvoline VVV | United States | $4.44B | -2% | +16% | 18% | 19.4× | 10.3% | -6.2% |
| Basic-Fit BFIT.AS | Netherlands | $2.23B | +2% | +18% | 12% | 22.0× | 6.5% | +30.4% |
| Planet Fitness PLNT | United States | $4.56B | +31% | +13% | 31% | 17.3× | 4.8% | +26.6% |
| Kakaku.com 2371.T | Japan | $4.63B | +42% | +17% | 27% | 31.3× | 4.6% | +13.0% |
| Graham GHC | United States | $5.05B | +7% | +4% | 6% | 16.4× | 8.6% | +11.2% |
| Driven Brands DRVN | United States | $1.96B | -11% | -11% | 15% | 9.6× | 3.3% | +15.5% |
| Park24 4666.T | Japan | $1.93B | -2% | +4% | 10% | 6.8× | -5.2% | +8.6% |
| Flight Centre Travel FLT.AX | Australia | $1.72B | +17% | +3% | 7% | 11.4× | 8.5% | +48.5% |
| Perdoceo Education PRDO | United States | $1.68B | -25% | +12% | 25% | 9.1× | -16.0% | +4.2% |
| Saga SAGA.L | United Kingdom | $1.67B | +56% | +37% | 16% | 18.6× | 12.6% | +14.3% |
Stride has 1 bond outstanding with $420M face value.
Stride reported $100,000 of remaining performance obligations at 30 Jun 2026, down 67% from a year earlier and down 75% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.