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Aspen Group (ASPU) Fair Value & Analysis

Consumer Defensive · US · Market cap $9.8M

AG Aspen Group logo Aspen Group ASPU · US
Price$0.3262
Fair Value$0.3251
Upside-0.3%
Quality38/100
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Mixed Growth
Thin margins · 7.0% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/12)
Narrow moat 44/100
Evidence: Low Range $0.1628 – $0.4919 Share as image

Fair value as of: Jul 24, 2026

From 3 valuation models · updated 17 days ago

Share price +18.6% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The model range is unusually wide ($0.1628 to $0.4919). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

$7.37 $0.0003 Fair Value $0.3251 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $0.0003 – $7.37 · fair‑value band $0.1628 – $0.4919 · the $0.3262 price screens above the $0.3251 fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Aspen Group (ASPU) currently trades at $0.3262, while our model-based Fair Value estimate is $0.3251, implying the stock looks roughly 0.3% fairly valued today. The Quality Score stands at 38/100 (below-average quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Aspen Group generated revenue of $44.6M at a net margin of 7.0%. Revenue declined 5.1% year over year. It earns a return on equity of 10.2%. Net debt stands at $29.3M. Fundamentals as of Jul 24, 2026

Our scenario range runs from $0.1628 (bear case) to $0.4919 (bull case); at $0.3262, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 17% fair-value upside, at 0%, ASPU screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Gordon GGM $2.26 $3.79 $4.92 70
DDM Multi-Stage $2.26 $3.60 $4.08 61
NCAV (Graham) $0.5600 $0.7600 $1.13 50
All 3 models by family
Dividend Discount
Gordon GGM $2.26 $3.79 $4.92 70
DDM Multi-Stage $2.26 $3.60 $4.08 61
Asset-Based
NCAV (Graham) $0.5600 $0.7600 $1.13 50

Widest divergence: Dividend Discount ($3.60) versus Asset-Based ($0.7600). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) $44.6M
Revenue growth (YoY) -5.1%
Net margin 7.0%
Return on equity 10.2%
Free cash flow −$7.0M FY2023
Operating margin 16.7%
More key figures
EPS (TTM) $-0.8600
Net debt $29.3M FY2023

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 34 · Market factors (momentum, volatility) 80

Profitability 28
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 96
Price trend over the last 3–12 months (market factor)
52W Momentum 89
Distance to the 52-week high (market factor)
Net Issuance 34
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Aspen Group, Inc., an education technology company, provides online higher education services in the United States. The company offers associates, bachelor's, master's, and doctoral degree programs in nursing and health sciences, business and technology, and education fields through Aspen University and United States University.

Full company description

Aspen Group, Inc., an education technology company, provides online higher education services in the United States. The company offers associates, bachelor's, master's, and doctoral degree programs in nursing and health sciences, business and technology, and education fields through Aspen University and United States University. As of April 30, 2025, 4,860 of 5,809 or 84% of all active students across both universities are degree-seeking nursing students. Aspen Group, Inc. was founded in 1987 and is based in Phoenix, Arizona.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Aspen Group reported revenue of $66.3M in FY2023 versus $34.0M in FY2019, a compound +18.2%/yr. Reported net income was −$8.3M in FY2023.

Growth Quality 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2023)
$66.3M
Latest YoY
−13.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+24.7%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+35.5%
Revenue +18.2%/yr
FY19 $34.0M
FY20 $49.1M
FY21 $67.8M
FY22 $76.7M
FY23 $66.3M
Net income
FY19 −$9.4M
FY20 −$5.7M
FY21 −$10.4M
FY22 −$9.6M
FY23 −$8.3M

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Cite: Fair Value Calculator (2026). "Aspen Group Fair Value". https://www.fairvalue-calculator.com/stock/ASPU

Peer Group

Education & Training Services · 148 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 38 · Bottom 25%
Fair Value upside +1% · Below median
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 17% · Above median
Revenue growth -5% · Below median
Debt / equity 0.42× · Higher than 75% of peers

Valuation Multiples vs Education & Training Services median · lower = cheaper

P/B 0.27× · Cheaper than 75% of peers
P/S (TTM) 0.22× · Cheaper than 75% of peers
EV/EBITDA 3.2× · Cheaper than 75% of peers
PEG 1.64× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 35 · sector 37
FUTURE 0 · sector 24
PAST 41 · sector 18
HEALTH 79 · sector 95
DIVIDEND 0 · sector 66

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Education & Training Services stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
New Oriental Education & Technology Group EDUN 966.48 MXN 897.37 MXN -7%
TAL Education Group TAL $10.24 $15.60 +52%
Laureate Education, Inc LAUR $36.45 $41.45 +14%
Physicswallah Limited PWL ₹131.59 ₹14.81 -89%
Grand Canyon Education, Inc LOPE $149.00 $152.01 +2%
Covista Inc CVSA $116.22 $135.45 +17%
Stride, Inc LRN $83.39 $139.45 +67%
Universal Technical Institute, Inc UTI $40.33 $21.35 -47%
Perdoceo Education Corporation PRDO $31.66 $41.45 +31%
Strategic Education, Inc STRA $84.18 $105.48 +25%

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Frequently asked questions

Is Aspen Group (ASPU) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of $0.3251 versus a price of $0.3262, about −0% (fairly valued).
What is the fair value of ASPU?
Our model-based fair value for Aspen Group is $0.3251 (as of Jul 24, 2026), built from audited fundamentals. The current price is $0.3262.
What is the quality score of ASPU?
Aspen Group has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Aspen Group (ASPU)?
Aspen Group reported trailing-twelve-month revenue of about $44.6M (latest available figure, as of Jul 24, 2026).
What is the net profit margin of ASPU?
The net profit margin of Aspen Group is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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