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Manila Bulletin devider Business devider The Stock Market devider STI earnings steady despite lower enrollment

STI earnings steady despite lower enrollment

Published May 25, 2026 03:40 pm

Tanco-led STI Education Systems Holdings Inc. (STI Holdings) reported stable net earnings of ₱1.63 billion for the first nine months of its fiscal year (FY) ending in June 2026, compared to ₱1.62 billion a year ago, despite lower enrollments.

In a disclosure to the Philippine Stock Exchange (PSE) on Monday, May 25, the firm said earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to ₱2.35 billion, reflecting a 56-percent EBITDA margin.

“Our performance reflects the resilience of our core education business and the continued strength of tertiary enrollment across the network. While the timing of revenue recognition affected quarterly comparisons, our full-year results remain stable and aligned with management expectations,” the company said.

Supported by steady tertiary enrollment, campus expansion, and continued investments in technology-driven education programs, gross revenues inched up two percent to ₱4.2 billion from ₱4.14 billion in the nine-month period a year ago.

Amid changing industry dynamics, total enrollees reached 132,941 for school year (SY) 2025-2026, slightly lower than the 139,155 recorded in the previous SY.

Enrollees in programs regulated by the Commission on Higher Education (CHED) comprised 77 percent of the total student population.

Basic education enrollment declined following earlier class openings in public schools, which affected private-school intake across the sector.

For the three-month period ending March 31, 2026, STI Holdings generated ₱1.37 billion in gross revenues, down nine percent from ₱1.51 billion during the same quarter last year. Net income dropped to ₱549.4 million from ₱706.6 million in the previous year’s quarter.

Management said the quarter-on-quarter variance was primarily driven by a structural shift in revenue recognition policies implemented beginning SY 2025-2026.

Under the updated approach, STI Education Services Group (STI ESG) and STI West Negros University (STI WNU) now recognize tuition and school fee revenues based on the actual number of school days per quarter instead of monthly recognition.

The group emphasized that the change only affects the timing of revenue recognition across quarters and does not impact total revenues recognized for the full academic year.

Tuition and school fee adjustments implemented for the current SY also contributed to the quarterly variance.

Operationally, STI Holdings continued expanding its academic footprint and strengthening industry-aligned programs while also continuing to modernize its academic programs through specialized cybersecurity and computer-aided design (CAD) platforms for criminology as well as information and communications technology (ICT) students, alongside Adobe Creative Cloud licenses.

“These investments are aligned with our long-term goal of preparing students for evolving industry requirements while improving graduate employability across key sectors,” STI said. - James A. Loyola

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