 PRDO has embarked on a journey to exit unattractive and unprofitable investments and to focus on assets with the highest return on capital. As a result of this change, revenue shrank from 1.9 billion a decade ago to approximately 700 million today. However, the company is now more profitable and in a better position to deliver attractive returns to shareholders. In terms of valuation, the company trades at 1.3x EVLTM FCFF, which makes it significantly undervalued. 