Rational Investing

Education Training Services

	Total Market Capitalization of All Firms	$63,412 mm
	Average Market Capitalization	$5,284 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.1
	Standard Deviation of MM Ratio	0
	Average Beta	0.8
	Average EV To Revenue	2.3
	Average Price To Free Cash Flow	124.8

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	% Growth	Beta	As Of
UTI	Universal Technical Institute	2.8	191	1.0	26.5	1	1.6	Dec 18
GHC	Graham Holdings Co.	1.6	3,169	1.3	-43.4	7	0.7	Sep 19
PSON.L	Pearson Plc	1.3	5,968	1.6	1104.8	1	0.6	Jun 19
STRA	Strayer Education Inc	1.1	3,539	3.3	34.4	70	0.7	Sep 19
ATGE	Adtalem Global Education Inc	1.0	1,983	2.1	13.2	-10	0.8	Sep 19
CPLA	Capella Education Co.	1.0	1,214	2.7	17.7	3	0.4	Jun 18
APEI	American Public Education, Inc	0.9	419	1.4	10.4	-2	0.8	Mar 19
PSO	Pearson Plc	0.9	5,900	1.2	24.5	3	0.6	Jun 19
TAL	TAL Education Group	0.9	17,097	5.2	75.3	30	0.6	Nov 19
CECO	Career Education Corp	0.8	1,281	2.2	13.6	1	1.4	Sep 19
EDU	New Oriental Education & Techn	0.8	19,774	5.3	45.7	22	1.4	Nov 19
9783	Benesse Corporation	0.6	2,877	0.3	7.1	9	0.5	Sep 19