Aspen Group (ASGR) AI Stock Analysis

• Market Cap: ₪440.41M
• Dividend Yield: 7.71%
• Average Volume (3M): 12.55K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: -3.10%
• EPS Growth: 53.93%
• Country: IL
• Employees: 30
• Sector: Technology
• Sector Strength: 88
• Industry: Real Estate - Services
• EPS (TTM): N/A
• Shares Outstanding: 64,305,160
• 10 Day Avg. Volume: 21,762
• 30 Day Avg. Volume: 12,546
• PEG Ratio: -0.10
• Price to Book (P/B): 0.75
• Price to Sales (P/S): 2.00
• P/FCF Ratio: -22.26
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: 780.00 ▲(11.14% Upside)
• Action: Reiterated Date: 01/10/26
• Date: Action: Reiterated 01/10/26

Overall score is held back primarily by weak financial performance (ongoing losses and high leverage/negative ROE). Technicals are supportive due to a strong uptrend, but overbought signals raise near-term risk. Valuation benefits from a high dividend yield, though the negative P/E underscores continued earnings pressure.

Positive Factors

Niche online education model

Aspen's competency-based, online focus targets working adult learners in nursing and healthcare — a structurally persistent demand pool. The scalable online delivery and program specialization support steady enrollment appeal and efficient unit economics over multi-month horizons.

Improving operational margins

Material improvement in EBIT/EBITDA margins points to better operating efficiency and tighter cost control. Sustained margin expansion can reduce cash burn, increase resilience to enrollment swings, and improve the firm's ability to invest in curriculum and student support long term.

Free cash flow improvement

Positive free cash flow growth indicates the business is starting to convert operations into cash, enhancing liquidity. Persistent FCF improvement can fund debt servicing, reinvestment, or working capital without dilutive financing, strengthening financial flexibility over months.

Negative Factors

High leverage

Debt-to-equity above 4 signals a capital structure heavily reliant on debt, constraining flexibility. High leverage raises refinancing and interest-rate vulnerability, limits ability to invest in growth, and magnifies downside if enrollment or margins deteriorate over a multi-month horizon.

Persistent unprofitability

Despite margin improvements, the company remains loss-making with negative net margin and ROE, indicating it has not yet translated operating gains into shareholder returns. Continued unprofitability pressures cash reserves and long-term capital access if trends reverse.

Enrollment / funding dependence

Revenue concentration on tuition and dependence on enrollment, retention and third‑party funding (Title IV) creates structural volatility. Changes in enrollment trends or regulatory access to aid can materially impact cash flows and revenue durability over months.

Aspen Group Business Overview & Revenue Model

Company Description

Aspen Group (ASGR) is a forward-thinking education company that focuses on providing high-quality online degree programs and educational services primarily through its subsidiary, Aspen University. The company operates in the higher education sector, offering degrees in fields such as business, nursing, and education. Aspen Group aims to enhance access to affordable education, leveraging technology to deliver flexible and innovative learning experiences to students across the United States and beyond.

How the Company Makes Money

Aspen Group generates revenue primarily through tuition fees collected from students enrolled in its online degree programs. The company operates on a direct-to-consumer model, where students pay for their courses and programs, contributing to a consistent revenue stream. In addition to tuition, Aspen Group may also earn revenue through partnerships with organizations that provide educational services or through grants and financial aid that facilitate students' enrollment. The emphasis on affordable, accessible education positions Aspen Group to attract a diverse student base, further enhancing its revenue potential.

Aspen Group Financial Statement Overview

Summary

Mixed fundamentals: improved EBIT/EBITDA margins and better free cash flow trends, but profitability remains weak (negative net margin) and leverage is high (debt-to-equity consistently above 4) with negative ROE and a low equity ratio.

Income Statement

Aspen Group's income statement shows a mixed performance. The TTM data reveals a significant improvement in EBIT and EBITDA margins, indicating better operational efficiency. However, the company is struggling with profitability, as evidenced by the negative net profit margin. Revenue growth is positive in the TTM, but historical data shows fluctuations, suggesting volatility in revenue streams.

Balance Sheet

The balance sheet reflects high leverage, with a debt-to-equity ratio consistently above 4. This indicates a high reliance on debt financing, which poses a risk if interest rates rise. The return on equity is negative in the TTM, highlighting challenges in generating returns for shareholders. The equity ratio is relatively low, suggesting limited financial stability.

Cash Flow

Cash flow analysis shows improvement in free cash flow growth in the TTM, indicating better cash generation capabilities. The operating cash flow to net income ratio is low, suggesting that net income is not fully translating into cash flow. However, the free cash flow to net income ratio is positive, reflecting some efficiency in cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	215.34M	213.71M	251.75M	282.91M	196.21M	182.35M
Gross Profit	154.32M	159.07M	197.82M	165.80M	144.46M	143.85M
EBITDA	192.11M	31.96M	-16.02M	320.17M	309.34M	94.95M
Net Income	-37.66M	-103.34M	-72.80M	35.33M	91.96M	34.20M
Balance Sheet
Total Assets	3.89B	3.52B	5.27B	5.35B	4.37B	2.82B
Cash, Cash Equivalents and Short-Term Investments	684.07M	182.63M	326.25M	447.26M	384.12M	378.21M
Total Debt	2.71B	2.43B	3.32B	3.16B	2.59B	1.76B
Total Liabilities	2.90B	2.59B	3.72B	3.73B	2.98B	1.97B
Stockholders Equity	573.24M	572.62M	721.31M	787.93M	722.57M	665.34M
Cash Flow
Free Cash Flow	68.83M	-19.18M	-28.15M	33.52M	-36.59M	41.92M
Operating Cash Flow	71.89M	49.71M	45.05M	100.77M	11.48M	42.06M
Investing Cash Flow	106.20M	-426.44M	-75.34M	-583.11M	-362.82M	102.90M
Financing Cash Flow	73.68M	240.33M	-83.35M	589.68M	295.87M	23.90M

Aspen Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 701.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IL:ASGR, the sentiment is Negative. The current price of 701.8 is below the 20-day moving average (MA) of 721.47, below the 50-day MA of 762.64, and below the 200-day MA of 725.62, indicating a bearish trend. The MACD of -18.21 indicates Negative momentum. The RSI at 43.03 is Neutral, neither overbought nor oversold. The STOCH value of 47.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IL:ASGR.

Aspen Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ASGR	51 Neutral	₪440.41M	-11.58	―	7.71%	-3.10%	53.93%