Universal Technical Institute (UTI) financial statements
Universal Technical Institute reported revenue of $836M in fiscal 2025, up 10.3% a year over 9 years.
Net income was $63M and the operating margin 10.0%, against -5.4% in 2016.
Free cash flow was $55M.
The diluted share count rose 129% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Universal Technical Institute's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $347M | $324M | $317M | $332M | $301M | $335M | $419M | $607M | $733M | $836M |
| Selling, general and admin | $171M | $145M | $170M | $161M | $149M | $153M | $189M | $256M | $289M | $332M |
| Operating income | -$19M | -$2M | -$35M | -$8M | -$4M | $15M | $22M | $21M | $59M | $83M |
| Interest expense | $3M | $3M | $3M | $3M | $10,000 | $365,000 | $2M | $10M | $9M | $6M |
| Pre-tax income | -$22M | -$3M | -$36M | -$8M | -$3M | $15M | $20M | $18M | $56M | $84M |
| Income tax | $26M | $5M | -$3M | $203,000 | -$11M | $602,000 | -$5M | $6M | $14M | $21M |
| Net income | -$48M | -$8M | -$33M | -$8M | $8M | $15M | $26M | $12M | $42M | $63M |
| EPS (diluted) | -$2.02 | -$0.54 | -$1.51 | -$0.52 | $0.05 | $0.17 | $0.38 | $0.13 | $0.75 | $1.13 |
| Diluted shares | 24M | 25M | 25M | 25M | 30M | 33M | 34M | 34M | 51M | 56M |
| Operating margin | -5.4% | -0.6% | -11.1% | -2.4% | -1.3% | 4.5% | 5.3% | 3.5% | 8.0% | 10.0% |
| Net margin | -13.7% | -2.5% | -10.3% | -2.4% | 2.7% | 4.4% | 6.2% | 2.0% | 5.7% | 7.5% |
Balance sheet
Fiscal years, from Universal Technical Institute's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $119M | $50M | $58M | $65M | $77M | $134M | $66M | $152M | $162M | $169M |
| Receivables | $15M | $15M | $21M | $18M | $35M | $17M | $16M | $25M | $31M | $46M |
| Total current assets | $162M | $147M | $117M | $118M | $180M | $183M | $136M | $205M | $222M | $247M |
| Property, plant and equipment | $114M | $107M | $115M | $104M | $73M | $122M | $214M | $266M | $265M | $286M |
| Goodwill | $9M | $9M | $8M | $8M | $8M | $8M | $17M | $28M | $28M | $28M |
| Total assets | $297M | $274M | $282M | $271M | $442M | $513M | $553M | $741M | $745M | $826M |
| Total current liabilities | $95M | $86M | $92M | $97M | $122M | $133M | $138M | $185M | $205M | $230M |
| Long-term debt | — | — | — | — | $131,000 | $30M | $66M | $160M | $123M | $84M |
| Total liabilities | $161M | $148M | $156M | $156M | $265M | $324M | $338M | $515M | $484M | $498M |
| Shareholders' equity | $137M | $126M | $127M | $114M | $177M | $189M | $215M | $226M | $260M | $328M |
| Net debt | -$119M | -$50M | -$58M | -$65M | -$77M | -$103M | $1M | $11M | -$36M | -$40M |
Cash flow
Fiscal years, from Universal Technical Institute's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7M | $1M | -$13M | $22M | $11M | $55M | $46M | $49M | $86M | $97M |
| Capital spending | $7M | $8M | $21M | $6M | $9M | $61M | $79M | $57M | $24M | $42M |
| Free cash flow | -$111,000 | -$7M | -$34M | $15M | $2M | -$6M | -$33M | -$8M | $62M | $55M |
| Stock-based compensation | $5M | $3M | $2M | $1M | $2M | $2M | $4M | $4M | $9M | $9M |
| Dividends paid | $1M | $0 | $0 | — | — | — | — | — | — | — |
| Net borrowing | — | — | — | $0 | $0 | $31M | $38M | — | — | — |
| Free cash flow margin | -0.0% | -2.2% | -10.7% | 4.6% | 0.6% | -1.8% | -8.0% | -1.2% | 8.4% | 6.6% |
| Dividends per share | $0.06 | — | — | — | — | — | — | — | — | — |
Questions
What was Universal Technical Institute's revenue in 2025?
$836M in fiscal 2025, from its 10-K filing.
How much free cash flow does Universal Technical Institute generate?
$55M in fiscal 2025 (operating cash flow minus capital spending).
From Universal Technical Institute's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.