Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - PreACT-tested students scored higher on the ACT and were more likely to be ready for college courses, with an average ACT Composite score of 20.86 for PreACT takers compared to 19.86 for non-takers [5][11] - College enrollment rates were higher for PreACT-tested students across the graduating cohorts of 2022, 2023, and 2024 [17][20] - Average gains from PreACT to ACT varied across subjects, with an overall average Composite gain of 1.64 points [27] - Average gains increased with course rigor and performance, indicating a correlation between academic preparation and test score improvement [30] - Gains from PreACT to ACT were lower for underrepresented racial/ethnic groups, with the average Composite gain ranging from 0.93 points for Native American students to 2.72 for Asian students [33][41] - Average gains increased with family income level, but much of the increase was explained by course performance and school characteristics [41][43] Summary by Sections PreACT Testing Status - Over 467,000 students took PreACT tests before the ACT, with a total of 1,380,130 students in the 2025 ACT-tested graduating class [4] - The average ACT score for PreACT-tested students was higher, with differences in readiness for college courses also favoring this group [5][11] College Enrollment Rates - College enrollment rates were consistently higher for PreACT-tested students, with statistical adjustments showing smaller differences [17][20] Score Gains - The average gain from PreACT to ACT varied by subject, with the highest gain in English at 2.67 points and the lowest in reading at 0.54 points [27] - Gains were positively correlated with high school grades and course rigor [30] Racial/Ethnic and Income Disparities - Average gains from PreACT to ACT were lower for underrepresented racial/ethnic groups, with adjustments showing smaller differences [33][37] - Gains also increased with family income, but adjustments for academic performance reduced the observed differences [41][43]