Rational Investing

Education Training Services

	Total Market Capitalization of All Firms	97872 mm
	Average Market Capitalization	8156 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.12
	Standard Deviation of MM Ratio	0.05
	Average Beta	0.84
	Average EV To Revenue	3.21
	Average Price To Free Cash Flow	153

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	% Growth	Beta	As Of
UTI	Universal Technical Institute	2.7	181	0.9	26.5	1	1.55	Dec 18
GHC	Graham Holdings Co.	2.0	3,338	1.3	-92.5	10	0.66	Sep 19
PSON.L	Pearson Plc	1.4	6,516	1.8	1402.3	1	0.66	Jun 19
PSO	Pearson Plc	1.2	6,478	1.4	30.7	-4	0.66	Jun 19
ATGE	Adtalem Global Education Inc	1.0	1,855	2.0	13.2	-10	0.83	Sep 19
CECO	Career Education Corp	1.0	1,161	2.0	11.7	1	1.38	Sep 19
CPLA	Capella Education Co.	1.0	1,214	2.7	17.7	3	0.36	Jun 18
APEI	American Public Education, Inc	0.9	406	1.4	10.4	-2	0.77	Mar 19
STRA	Strayer Education Inc	0.9	3,136	2.9	62.6	70	0.66	Sep 19
EDU	New Oriental Education & Techn	0.8	19,365	5.2	44.3	22	1.43	Aug 19
TAL	TAL Education Group	0.7	51,475	16.6	56.4	21	0.60	Aug 19
9783	Benesse Corporation	0.5	2,747	0.3	7.2	8	0.50	Sep 19