Perdoceo Education (PRDO) Cash Flow: Operating & Free Cash Flow

Perdoceo Education (PRDO) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Perdoceo Education generated $225.24M of operating cash flow and spent $8.58M on capital expenditures. That left free cash flow of $216.66M, up 38.0% from $156.97M a year earlier, or 25.6% of revenue. It returned $165.19M to shareholders through $36.85M in dividends and $128.34M in share buybacks.

Perdoceo Education Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Perdoceo Education Corporation (PRDO) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	159.91	147.59	147.65	95.87	109.64	124.26	69.98	55.18	-31.90
Depreciation & Amortization	41.63	14.65	16.89	19.73	16.77	14.79	9.15	9.39	13.99
Deferred Income Tax	3.83	2.66	3.76	-0.72	15.33	20.35	21.56	17.86	64.23
Stock Based Compensation	11.73	10.19	8.08	8.75	14.97	13.38	9.27	5.61	4.97
Change in Working Capital	-21.36	-51.66	-89.75	-20.01	-9.93	-40.99	-80.34	-63.01	-100.51
Change in Accounts Receivable	-34.57	-8.06	-26.57	-34.28	-35.39	7.09	-33.70	-10.54	5.13
Change in Inventory	2.51	4.47	-2.99	2.64	3.29	3.03	-1.18	3.05	8.74
Change in Accounts Payable	1.47	-0.73	-4.88	1.92	-2.74	0.37	2.32	0.70	-1.59
Change in Other Working Capital	0.71	-47.35	-4.69	1.78	0.88	-51.49	-47.78	-56.22	-112.80
Other Operating Activities	33.33	38.17	29.15	43.85	59.67	48.17	43.47	31.94	27.44
Net Cash from Operating Activities	225.24	161.59	112.03	148.19	191.12	179.96	73.09	56.99	-21.79
Investing Activities
Capital Expenditures	-8.58	-4.63	-6.41	-12.62	-10.45	-9.77	-5.17	-6.73	-6.33
Acquisitions	0.85	-137.77	-6.00	-84.31	-57.14	-39.82	0.00	0.00	0.00
Purchases of Investments	-392.76	-412.89	-314.28	-492.10	-269.74	-403.67	-449.37	-309.78	-256.24
Sales/Maturities of Investments	346.84	447.50	238.18	262.28	391.66	287.25	462.33	275.02	250.93
Other Investing Activities	0.00	0.00	0.00	0.00	0.00	0.10	-0.09	-34.76	-5.32
Net Cash from Investing Activities	-53.64	-107.78	-88.51	-326.75	54.32	-165.91	7.70	-41.49	-11.65
Financing Activities
Debt Repayment	-5.47	-1.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Common Stock Issued	1.64	2.23	2.55	1.20	0.86	5.72	1.77	1.68	2.72
Common Stock Repurchased	-128.34	-6.77	-10.51	-24.73	-30.81	-17.86	-3.88	0.00	0.00
Dividends Paid	-36.86	-31.70	-14.42	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	-2.06	-3.71	-1.00	-4.20	-5.51	-0.91	-2.74	-3.35	-1.19
Net Cash from Financing Activities	-171.07	-41.08	-23.38	-27.73	-29.95	-13.05	-4.84	-1.66	1.54
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	-0.08
Net Change in Cash	0.53	12.73	0.14	-206.29	215.49	1.00	75.96	13.83	-31.98
Cash at Beginning of Period	131.75	119.02	118.88	325.18	109.68	108.69	32.73	18.90	50.88
Cash at End of Period	132.28	131.75	119.02	118.88	325.18	109.68	108.69	32.73	18.90
Free Cash Flow	216.66	156.97	105.61	135.57	180.66	170.19	67.91	50.26	-28.12
Supplemental Disclosures
Income Taxes Paid	49.35	46.84	41.75	28.94	23.22	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Perdoceo Education Cash Flow

What is Perdoceo Education's free cash flow?

Perdoceo Education generated free cash flow of $216.66M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $225.24M minus $8.58M of capital expenditures. That was up 38.0% from $156.97M a year earlier. Free cash flow equaled 25.6% of revenue.

How much does Perdoceo Education spend on capital expenditures?

Perdoceo Education spent $8.58M on capital expenditures in fiscal 2025, compared with $4.63M a year earlier. That equals 3.8% of operating cash flow.

Does Perdoceo Education pay dividends or buy back shares?

Yes. In fiscal 2025 Perdoceo Education returned $36.85M in dividends and $128.34M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition