American Public Education Inc (APEI)

Services-Educational Services

Latest Price

$42.18

TTM P/E

17.36

Normalized P/E

Div Yield

Book Value

17.12

P/B Ratio

2.46

Valuation metrics

EPS: $1.36

Book value / share: $16.26

Formula: √(22.5 × EPS × BVPS)

Graham Number

$22.31

47% downside

Norm. op. income: $25M (median of 7yr)

Tax rate: 29%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$14.11

67% downside

Base FCF: $28M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$118.48

+181% upside

EPS: $1.36

Target P/E: 17×

Formula: EPS × P/E

P/E Fair Value

$23.12

45% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	1.77M	$95.0M	9.65%	+321.9K	2026-06-30
325 Capital LLC	1.18M	$63.0M	6.44%	--	2026-06-30
FMR LLC	1.18M	$63.0M	6.44%	+395.3K	2026-06-30
Divisadero Street Capital Management, LP	1.17M	$62.0M	6.37%	+117.3K	2026-06-30
Renaissance Technologies LLC	910.6K	$48.0M	4.96%	-9.6K	2026-06-30
Vanguard Capital Management LLC	718.5K	$38.0M	3.91%	+17.5K	2026-06-30
Dimensional Fund Advisors LP	702.1K	$37.0M	3.82%	-97.0K	2026-06-30
American Century Companies Inc	694.5K	$37.0M	3.78%	+35.7K	2026-06-30
Driehaus Capital Management LLC	534.7K	$28.0M	2.91%	+2.4K	2026-06-30
Geode Capital Management, LLC	522.4K	$28.0M	2.84%	+39.3K	2026-06-30