Stride, Inc. (LRN) intrinsic value & 10-year financials
Stride, Inc. (LRN) has a Graham intrinsic value of $197.63 per share. At $82.39 on Oct 17, 2026, the stock trades 58% below that value. Over the last 10 fiscal years revenue grew 11.9% a year to $2.4B, with an average return on invested capital of 9.5%.
- Graham intrinsic value
- $197.63
- Share price (Oct 17, 2026)
- $82.39
- Price vs Graham value
- 58% below
- Market cap
- $4.0B
- Revenue (FY2025)
- $2.4B
- Revenue growth (10-yr CAGR)
- 11.9%
- ROIC (10-yr avg)
- 9.5%
- Free cash flow (FY2025)
- $431.0M
LRN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.4B | $287.9M | $5.95 | $431.0M | 15.0% | 23.1% |
| FY2024 | $2.0B | $204.2M | $4.69 | $276.5M | 12.2% | 17.3% |
| FY2023 | $1.8B | $126.9M | $2.97 | $198.8M | 9.0% | 12.4% |
| FY2022 | $1.7B | $107.1M | $2.52 | $197.1M | 9.3% | 12.8% |
| FY2021 | $1.5B | $71.5M | $1.71 | $130.6M | 7.2% | 11.7% |
| FY2020 | $1.0B | $24.5M | $0.60 | $78.7M | 3.1% | 4.3% |
| FY2019 | $1.0B | $37.2M | $0.91 | $136.1M | 4.5% | 5.8% |
| FY2018 | $917.7M | $27.6M | $0.68 | $94.9M | 2.8% | 4.4% |
| FY2017 | $888.5M | $451.0K | $0.01 | $86.6M | 1.5% | 1.2% |
| FY2016 | $872.7M | $9.0M | $0.23 | $116.8M | 1.6% | 1.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Stride, Inc. is a consistent compounder, expanding top-line revenue at 11.9% annually over the past decade.
Stride, Inc. returns on capital have been average, hovering around 9.5% ROIC over the decade.
Stride, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Stride, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $197.63 per share.