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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and AVANOS MEDICAL, INC. (AVNS). Click either name above to swap in a different company.
AVANOS MEDICAL, INC. is the larger business by last-quarter revenue ($180.9M vs $158.3M, roughly 1.1× AMERICAN PUBLIC EDUCATION INC). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs -0.7%, a 8.7% gap on every dollar of revenue. On growth, AVANOS MEDICAL, INC. posted the faster year-over-year revenue change (0.7% vs -3.5%). AVANOS MEDICAL, INC. produced more free cash flow last quarter ($21.3M vs $-15.6M). Over the past eight quarters, AVANOS MEDICAL, INC.'s revenue compounded faster (4.4% CAGR vs 1.3%).
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
Avanos Medical, Inc. is a medical technology company making clinical medical devices. The company consists of two franchises – Pain Management and Chronic Care – that address reducing the use of opioids while helping patients recover faster and preventing infection.
APEI vs AVNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $180.9M |
| Net Profit | $12.6M | $-1.3M |
| Gross Margin | 56.4% | 47.5% |
| Operating Margin | 12.0% | 1.4% |
| Net Margin | 8.0% | -0.7% |
| Revenue YoY | -3.5% | 0.7% |
| Net Profit YoY | -2.7% | 99.7% |
| EPS (diluted) | $0.67 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $158.3M | $180.9M | ||
| Q3 25 | $163.2M | $177.8M | ||
| Q2 25 | $162.8M | $175.0M | ||
| Q1 25 | $164.6M | $167.5M | ||
| Q4 24 | $164.1M | $179.6M | ||
| Q3 24 | $153.1M | $170.4M | ||
| Q2 24 | $152.9M | $171.7M | ||
| Q1 24 | $154.4M | $166.1M |
| Q4 25 | $12.6M | $-1.3M | ||
| Q3 25 | $5.6M | $-1.4M | ||
| Q2 25 | $4.5M | $-76.8M | ||
| Q1 25 | $8.9M | $6.6M | ||
| Q4 24 | $13.0M | $-397.3M | ||
| Q3 24 | $2.3M | $4.3M | ||
| Q2 24 | $371.0K | $1.8M | ||
| Q1 24 | $516.0K | $-900.0K |
| Q4 25 | 56.4% | 47.5% | ||
| Q3 25 | 54.2% | 48.4% | ||
| Q2 25 | 51.8% | 52.6% | ||
| Q1 25 | 54.5% | 53.6% | ||
| Q4 24 | 56.3% | 54.6% | ||
| Q3 24 | 50.8% | 54.5% | ||
| Q2 24 | 50.2% | 55.7% | ||
| Q1 24 | 53.1% | 57.1% |
| Q4 25 | 12.0% | 1.4% | ||
| Q3 25 | 5.9% | 0.1% | ||
| Q2 25 | 4.3% | -42.6% | ||
| Q1 25 | 7.4% | 6.1% | ||
| Q4 24 | 13.1% | -233.0% | ||
| Q3 24 | 2.7% | 7.0% | ||
| Q2 24 | 1.5% | 3.7% | ||
| Q1 24 | 3.4% | 2.4% |
| Q4 25 | 8.0% | -0.7% | ||
| Q3 25 | 3.4% | -0.8% | ||
| Q2 25 | 2.8% | -43.9% | ||
| Q1 25 | 5.4% | 3.9% | ||
| Q4 24 | 7.9% | -221.2% | ||
| Q3 24 | 1.5% | 2.5% | ||
| Q2 24 | 0.2% | 1.0% | ||
| Q1 24 | 0.3% | -0.5% |
| Q4 25 | $0.67 | $-0.02 | ||
| Q3 25 | $0.30 | $-0.03 | ||
| Q2 25 | $-0.02 | $-1.66 | ||
| Q1 25 | $0.41 | $0.14 | ||
| Q4 24 | $0.63 | $-8.64 | ||
| Q3 24 | $0.04 | $0.09 | ||
| Q2 24 | $-0.06 | $0.04 | ||
| Q1 24 | $-0.06 | $-0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $174.1M | $89.8M |
| Total DebtLower is stronger | $94.7M | $90.3M |
| Stockholders' EquityBook value | $294.8M | $778.2M |
| Total Assets | $521.4M | $1.1B |
| Debt / EquityLower = less leverage | 0.32× | 0.12× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $89.8M | ||
| Q3 25 | $191.3M | $70.5M | ||
| Q2 25 | $174.9M | $90.3M | ||
| Q1 25 | $161.6M | $97.0M | ||
| Q4 24 | $131.9M | $107.7M | ||
| Q3 24 | $135.4M | $89.0M | ||
| Q2 24 | $129.8M | $92.2M | ||
| Q1 24 | $125.3M | $75.8M |
| Q4 25 | $94.7M | $90.3M | ||
| Q3 25 | $94.4M | $93.4M | ||
| Q2 25 | $94.1M | $95.7M | ||
| Q1 25 | $93.7M | $98.0M | ||
| Q4 24 | $93.4M | $125.3M | ||
| Q3 24 | $93.1M | $152.6M | ||
| Q2 24 | $92.8M | $164.9M | ||
| Q1 24 | $95.0M | $167.2M |
| Q4 25 | $294.8M | $778.2M | ||
| Q3 25 | $279.3M | $778.0M | ||
| Q2 25 | $272.2M | $776.3M | ||
| Q1 25 | $310.0M | $839.4M | ||
| Q4 24 | $303.9M | $828.5M | ||
| Q3 24 | $290.4M | $1.2B | ||
| Q2 24 | $288.7M | $1.2B | ||
| Q1 24 | $288.5M | $1.2B |
| Q4 25 | $521.4M | $1.1B | ||
| Q3 25 | $525.3M | $1.1B | ||
| Q2 25 | $537.4M | $1.0B | ||
| Q1 25 | $578.7M | $1.1B | ||
| Q4 24 | $570.1M | $1.2B | ||
| Q3 24 | $569.6M | $1.7B | ||
| Q2 24 | $560.7M | $1.7B | ||
| Q1 24 | $559.0M | $1.7B |
| Q4 25 | 0.32× | 0.12× | ||
| Q3 25 | 0.34× | 0.12× | ||
| Q2 25 | 0.35× | 0.12× | ||
| Q1 25 | 0.30× | 0.12× | ||
| Q4 24 | 0.31× | 0.15× | ||
| Q3 24 | 0.32× | 0.12× | ||
| Q2 24 | 0.32× | 0.13× | ||
| Q1 24 | 0.33× | 0.14× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-11.6M | $28.2M |
| Free Cash FlowOCF − Capex | $-15.6M | $21.3M |
| FCF MarginFCF / Revenue | -9.9% | 11.8% |
| Capex IntensityCapex / Revenue | 2.6% | 3.8% |
| Cash ConversionOCF / Net Profit | -0.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $43.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $28.2M | ||
| Q3 25 | $21.7M | $14.0M | ||
| Q2 25 | $14.8M | $6.8M | ||
| Q1 25 | $37.0M | $25.7M | ||
| Q4 24 | $1.6M | $57.9M | ||
| Q3 24 | $14.1M | $23.0M | ||
| Q2 24 | $12.5M | $27.8M | ||
| Q1 24 | $20.7M | $-8.0M |
| Q4 25 | $-15.6M | $21.3M | ||
| Q3 25 | $17.5M | $7.0M | ||
| Q2 25 | $11.1M | $-4.2M | ||
| Q1 25 | $33.1M | $19.0M | ||
| Q4 24 | $-1.8M | $53.1M | ||
| Q3 24 | $7.8M | $20.0M | ||
| Q2 24 | $7.3M | $21.9M | ||
| Q1 24 | $14.5M | $-12.1M |
| Q4 25 | -9.9% | 11.8% | ||
| Q3 25 | 10.7% | 3.9% | ||
| Q2 25 | 6.8% | -2.4% | ||
| Q1 25 | 20.1% | 11.3% | ||
| Q4 24 | -1.1% | 29.6% | ||
| Q3 24 | 5.1% | 11.7% | ||
| Q2 24 | 4.7% | 12.8% | ||
| Q1 24 | 9.4% | -7.3% |
| Q4 25 | 2.6% | 3.8% | ||
| Q3 25 | 2.6% | 3.9% | ||
| Q2 25 | 2.3% | 6.3% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | 2.0% | 2.7% | ||
| Q3 24 | 4.1% | 1.8% | ||
| Q2 24 | 3.4% | 3.4% | ||
| Q1 24 | 4.0% | 2.5% |
| Q4 25 | -0.92× | — | ||
| Q3 25 | 3.90× | — | ||
| Q2 25 | 3.29× | — | ||
| Q1 25 | 4.16× | 3.89× | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 6.22× | 5.35× | ||
| Q2 24 | 33.57× | 15.44× | ||
| Q1 24 | 40.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APEI
| American Public Education Inc Segment | $71.0M | 45% |
| Rasmussen University Segment | $66.6M | 42% |
| Hondros College Of Nursing Segment | $20.7M | 13% |
AVNS
| Enteral Feeding | $83.0M | 46% |
| Radiofrequency Ablation | $36.9M | 20% |
| Neonate Solutions | $32.1M | 18% |
| Surgical Pain And Recovery | $24.7M | 14% |
| Corporate Other | $4.2M | 2% |
