Start here if you're new
what it is
Adtalem runs nursing, online degree, and medical training programs for students trying to move into healthcare jobs.
how it gets paid
Last year Adtalem Glob. Ed made $1.8B in revenue. Chamberlain was the main engine at $0.74B, or 41% of sales.
why it's growing
Revenue grew 12.9% last year. Chamberlain, which represented 39% of the quarter’s total revenues, reported a solid 7% rise in the top line, while the medical & veterinary segment posted.
what just happened
Revenue hit $966M and EPS reached $3.77.
At a glance
B+ balance sheet — decent shape, but not bulletproof
80/100 earnings predictability — you can trust these numbers
15.7x trailing p/e — the market's not buying it — or you found a deal
16.5% return on capital — nothing to write home about
xvary composite: 57/100 — below average
What they do
Adtalem runs nursing, online degree, and medical training programs for students trying to move into healthcare jobs.
Walden had 52,216 students, up 14%. Switching costs (leaving is painful) are real when your credits and schedule are already set. Chamberlain, Walden, and Medical & Veterinary split revenue 41%, 39%, and 20%, so you are not betting on one campus.
How they make money
$1.8B
annual revenue · their business grew +12.9% last year
Chamberlain
$0.74B
Walden
$0.70B
Medical & Veterinary
$0.36B
The products that matter
healthcare degree programs
Healthcare Education
$1.8B revenue · 100% of the business
it's the entire business today, producing $1.8B in revenue with growth of 12.9%. if enrollment cools, there is nowhere else to hide.
entire revenue base
Key numbers
$7.75
FY2026 EPS
At $104.53, you pay 13.5x next year's earnings. That is a normal price for a company already earning real cash.
$135
18-month target
That sits 29% above $104.53. The market is not pricing a collapse.
$1.8B
annual revenue
A 1% miss here is $18M. That is real money, not rounding.
23.5%
operating margin
For every $100 in sales, about $23.50 stays after operating costs. That is strong for education.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 30 / 100
- long-term debt $553M (13% of capital)
- net profit margin 15.5% — keeps 16 cents of every dollar in revenue
- return on equity 20% — $0.20 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in CVSA 3 years ago → it's now worth $29,380.
The index would have given you $13,920.
source: institutional data · total return
What just happened
beat estimates
Revenue hit $966M and EPS reached $3.77.
That was 92% and 79% above the year-ago quarter. A business that grows this fast does not need a hero story.
$966M
revenue
$3.77
eps
23.5%
margin
the number that mattered
The $966M quarter mattered because it was 92% above last year. That is a huge step for a $4B company.
-
revenues of $462 million were nearly $10 million higher than our estimate and increased 11% compared to the previous-year tally.
-
the advance was driven by gains at all three segments.
-
walden, which accounted for 41% of the top line during the period, posted an 18% jump in sales.
-
the growth there was supported by a 14% increase in total students, to 52,216.higher tuition rates and an increase in average credit hours per student also supported the advance.
-
chamberlain, which represented 39% of the quarter’s total revenues, reported a solid 7% rise in the top line, while the medical & veterinary segment posted a 6% increase.
source: company earnings report, 2026
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What could go wrong
the #1 risk is healthcare enrollment slowing after a 14% student increase.
med
enrollment growth cools
Student count reached 52,216 after growing 14%. If that pace slows, the 12.9% revenue growth story slows with it.
This risk reaches the full $1.8B revenue base because the business is basically one engine.
med
pricing and credit-hour tailwinds fade
Recent growth was helped by higher tuition rates and more average credit hours per student. Those levers can help for a while. They rarely do all the work forever.
If volume holds but mix weakens, profit pressure shows up quickly in a business earning 14.8% net margins.
med
the stock is steadier on paper than on screen
Price stability is just 30 / 100, and the shares traded between $44 and $156 over the last 52 weeks. The business may be predictable. The stock clearly is not.
Even solid execution can still come with sharp multiple swings around earnings and guidance.
all three risks land in the same place: a one-engine business with $1.8B in revenue and a stock that has already shown you it can move fast.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next quarterly print
You want to see whether the $1.80 EPS and $0.5B revenue setup actually lands, and whether management keeps the growth narrative intact.
metric
student count after 52,216
Enrollment drove the latest story. If that number stalls, the rest of the model gets harder to defend.
trend
revenue growth versus 12.9%
Double-digit growth is why a 15.7x trailing multiple looks interesting. A slowdown changes the framing fast.
risk
pricing-led growth
Tuition and credit hours helped the last report. If future growth leans too heavily on pricing, the quality of the story gets weaker.
Analyst rankings
short-term outlook
average
momentum score 3. in human-speak, analysts see a normal setup here — not a momentum rocket, not a falling knife.
risk profile
average
stability score 3 means the business reads as middle-of-the-road on risk, even if the stock chart looks wilder than that.
chart momentum
average
technical score 3 says there is no special signal in the tape right now. The fundamentals have to do the talking.
earnings predictability
80 / 100
management tends to deliver numbers close to expectations. That matters when the valuation case depends on forecasts being believable.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 205 buyers vs. 197 sellers in 3q2025. total institutional holdings: 34.8M shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$80
$189
$105
current price
$135
target midpoint · +29% from current · 3-5yr high: $210 (+100% · 19% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
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