At a glance
Universal Technical Institute Inc is worth $1.22B, about 20 times its fiscal 2025 earnings. Revenue grew 14.0% to $835.6M in fiscal 2025, with 7.5% kept as profit; over 5 years it has grown 22.7% a year. It pays no dividend. The stock returned −35.0% over the past year with dividends reinvested and +26.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 58.2% in the 2020 crash (S&P 500: 33.7%) and 51.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 20 months and 14 months after the lows.
The business in plain English
Universal Technical Institute Inc., founded in 1965, runs for-profit career schools that train people for hands-on jobs in transportation, skilled trades, energy and healthcare. It earns money mainly from tuition, and government aid pays for much of it. The company said about 78% of its fiscal 2025 revenue, counted on a cash basis, came from aid programs. These include Title IV, the federal student grants and loans run by the U.S. Department of Education, and veterans' benefits.
The UTI division brought in $541.8 million, or 64.8%, of the $835.6 million in revenue for the fiscal year ended September 30, 2025. Its 15 campuses in nine states teach automotive, diesel, welding, aviation, wind turbine, heating and air-conditioning, and other trades. Students come from high schools, the adult workforce and the military. The division also trains dealer technicians and supplies instructors for manufacturers. Concorde Career Colleges, bought on December 1, 2022, brought in $293.8 million, or 35.2%. Its 17 campuses in eight states, plus online classes, prepare mostly local adults for nursing, dental, patient care, diagnostic and other health careers. Students must complete clinical hours or externships (on-the-job placements) before they graduate.
Management's "North Star" strategy aims to launch at least six programs a year at existing campuses and to open at least two new campuses each year from fiscal 2026 through 2029, if regulators approve.
Price history
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UTI -35.0% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| UTI | $541.8M | 64.8% |
| Concorde | $293.8M | 35.2% |
Latest results
- In Q3 FY2026 (ended Jun 30, 2026), revenue was $218.9M, up 7.2% from a year earlier, and net income was $2.3M (-78.6%).
- For fiscal 2025, revenue was $835.6M (+14.0% year over year; +22.7% a year from FY2020 to FY2025) with a 7.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +22.7% good |
|---|---|
| Operating margin | 10% watch |
| Free cash flow margin | 6.6% watch |
| Return on equity (FY2025) | 19.2% good |
| Return on assets (FY2025) | 7.6% watch |
| Net cash (cash minus debt) | $10.1M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $300.8M | $8.0M | $1.8M |
| FY2021 | $335.1M | $14.6M | $-6.1M |
| FY2022 | $418.8M | $25.8M | $-33.4M |
| FY2023 | $607.4M | $12.3M | $-7.5M |
| FY2024 | $732.7M | $42.0M | $61.6M |
| FY2025 | $835.6M | $63.0M | $55.4M |
Valuation snapshot
| Market value | $1.22B |
|---|---|
| P/E ratio | 19.6 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
Universal Technical Institute’s market value went from $71.7M at the end of 2016 to $1.22B on Oct 28, 2026, about 17.0 times as much; since the end of 2025 it is down 14%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.22B | -14.2% |
| 2025 | $1.42B | +2.4% |
| 2024 | $1.39B | +225.6% |
| 2023 | $426.6M | +88.0% |
| 2022 | $227.0M | -11.6% |
| 2021 | $256.8M | +21.7% |
| 2020 | $210.9M | +6.7% |
| 2019 | $197.6M | +114.0% |
| 2018 | $92.4M | +53.9% |
| 2017 | $60.0M | -16.2% |
| 2016 | $71.7M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| UTI price data to Oct 28, 2026 | -15.2% | -35.0% | +38.1% | +26.2% | +30.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -15.2% |
| 2025 | +1.6% |
| 2024 | +105.3% |
| 2023 | +86.3% |
| 2022 | -14.1% |
| 2021 | +21.1% |
| 2020 | -16.2% |
| 2019 | +111.2% |
| 2018 | +52.1% |
| 2017 | -17.5% |
| 2016 | -37.3% |
| 2015 | -51.1% |
| 2014 | -26.7% |
| 2013 | +43.1% |
| 2012 | -18.8% |
| 2011 | -42.0% |
| 2010 | +16.4% |
| 2009 | +17.6% |
| 2008 | +1.0% |
| 2007 | -23.5% |
| 2006 | -28.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 53.7% over that stretch · deepest drop along the way 58.7%, back to its old high 11.3 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 44.4% over that stretch · deepest drop along the way 58.2%, back to its old high 20.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 29.6% over that stretch · deepest drop along the way 51.2%, back to its old high 13.7 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 6 open-market purchases ($335K) and 11 sales ($132.7M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 8, 2026 | Coliseum Capital Management, LLC Director | sell | $124.2M |
| Jun 29, 2026 | Jerome Alan Grant Chief Executive Officer, Director | sell | $2.0M |
| Jun 29, 2026 | Jerome Alan Grant Chief Executive Officer, Director | sell | $1.9M |
| May 12, 2025 | Sherrell Smith EVP, Chief Academic Officer | sell | $1.7M |
| Mar 27, 2026 | Christopher E. Kevane EVP and Chief Legal Officer | sell | $888K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14% | Sep 30, 2026 |
| WASHINGTON UNIVERSITY | 4.8% | Mar 28, 2024 |
| Lord, Abbett & Co. LLC | 3.73% | Jun 30, 2025 |
ETFs with the most weight in UTI
| FDLS Inspire Fidelis Multi Factor ETF | 1.06% |
| DWAS Invesco Dorsey Wright SmallCap Momentum ETF | 0.96% |
| FYC First Trust Small Cap Growth AlphaDEX Fund | 0.71% |
| FSCC Federated Hermes MDT Small Cap Core ETF | 0.43% |
| IWC iShares Micro-Cap ETF | 0.39% |
| FYX First Trust Small Cap Core AlphaDEX Fund | 0.36% |
| BFOR ALPS Barron's 400 ETF | 0.27% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.24% |
What could go wrong
- Most revenue depends on federal aid. About 78% of fiscal 2025 revenue, on a cash basis, came from government aid such as Title IV student grants and loans and veterans' benefits. Losing eligibility could sharply cut enrollment and revenue.
- Washington keeps rewriting the rules. The Education Department revises student-aid rules almost constantly, often amid lawsuits, and elections and new laws can shift policy. Scrutiny of for-profit schools could bring tighter limits, fines or enforcement actions.
- Paying back forgiven student loans. Under "borrower defense to repayment" rules, students who say a school misled them can have federal loans canceled. The Education Department can then seek repayment from the school, which could be a large cost.
- Expansion plan may not pay off. The company aims to open at least two campuses a year through fiscal 2029. New programs need regulatory approval, and campuses that fill slowly leave unused space that can squeeze profit margins.
- Risks in its own student loans. The company runs its own loan program for students and relies on outside firms to make and service the loans. Weaker repayments, new restrictions or a servicer failure could hurt results.
- Debt covenants and interest costs. Total debt was $160.0 million as of June 30, 2026. Its loans carry covenants, or lender-set rules. Breaking them could force early repayment, and higher interest rates would raise borrowing costs.
Recent events
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Code of ethics changed
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
For income and retirement investors
Universal Technical Institute pays no dividend, so the stock provides no regular income. The company also reported no share buybacks from fiscal 2021 through fiscal 2025. Instead, its share count rose about 68%, from 32.8 million in November 2021 to 55.1 million as of July 31, 2026, which spreads profits across more shares. Any return depends on the share price, and that price has swung hard. The stock fell 58.7% in the 2008 financial crisis, 58.2% in the 2020 COVID crash and 51.2% in the 2022 bear market. Each time, it took about 11 to 20 months after the low to recover. As of October 28, 2026, it was down 35% over one year, and at one point in that year it had fallen 63.9% from its high. A retiree who needs cash could get it only by cashing in shares, possibly at a low price. A single stock like this carries more risk than a diversified fund.
Questions investors ask
How does Universal Technical Institute make money?
Mostly from tuition at its career schools. In the fiscal year ended September 30, 2025, its UTI division brought in $541.8 million, or 64.8% of $835.6 million in revenue. It trains students for automotive, diesel, welding and other skilled-trades jobs at 15 campuses. Concorde Career Colleges, which teaches nursing, dental and other health programs at 17 campuses and online, brought in $293.8 million, or 35.2%. The UTI division also earns fees for training technicians and supplying instructors to manufacturers.
How much of UTI's revenue comes from federal student aid?
About 78%, on a cash basis, in fiscal 2025. That share came from government aid programs. These include Title IV federal student grants and loans, run by the U.S. Department of Education, and veterans' benefits. All of the company's campuses are accredited and eligible for Title IV aid. That reliance is a major risk. If a school broke the rules, regulators could impose fines, demand financial guarantees such as letters of credit, or cut off access to this funding.
Does Universal Technical Institute pay a dividend?
No. Universal Technical Institute pays no dividend, and its dividend yield was 0% as of October 28, 2026. It also reported no share buybacks from fiscal 2021 through fiscal 2025. Instead, its share count grew about 68%, from 32.8 million in November 2021 to 55.1 million as of July 31, 2026. For income investors, any return depends entirely on the share price.
Is Universal Technical Institute growing?
Revenue has grown quickly, but profit fell sharply in the quarter ended June 30, 2026. Revenue rose from $300.8 million in fiscal 2020 to $835.6 million in fiscal 2025, about 22.7% a year, helped by the December 2022 purchase of Concorde. Net income rose 50% to $63.0 million in fiscal 2025. In the June 2026 quarter, revenue grew 7.2% from a year earlier while net income fell 78.6% to $2.3 million. As of October 28, 2026, the stock traded at about 19.6 times fiscal 2025 earnings (its P/E ratio).
Have insiders sold UTI stock?
Yes. Insiders sold far more than they bought between October 29, 2025, and October 29, 2026. The filings reviewed show 11 sales worth about $132.7 million and six purchases worth about $335,000. The largest was a $124.2 million sale on June 8, 2026, by Coliseum Capital Management, which is listed as a director. Chief executive Jerome Grant sold about $2.0 million and $1.9 million of stock on June 29, 2026. Insiders may sell for personal or portfolio reasons, not only because of their view of the business.