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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Claritev Corp (CTEV). Click either name above to swap in a different company.
Claritev Corp is the larger business by last-quarter revenue ($246.6M vs $158.3M, roughly 1.6× AMERICAN PUBLIC EDUCATION INC). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs -32.7%, a 40.6% gap on every dollar of revenue. On growth, Claritev Corp posted the faster year-over-year revenue change (6.2% vs -3.5%). Claritev Corp produced more free cash flow last quarter ($36.4M vs $-15.6M). Over the past eight quarters, Claritev Corp's revenue compounded faster (2.5% 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.
APEI vs CTEV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $246.6M |
| Net Profit | $12.6M | $-80.6M |
| Gross Margin | 56.4% | — |
| Operating Margin | 12.0% | -3.1% |
| Net Margin | 8.0% | -32.7% |
| Revenue YoY | -3.5% | 6.2% |
| Net Profit YoY | -2.7% | 41.6% |
| EPS (diluted) | $0.67 | $-4.88 |
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 | $246.6M | ||
| Q3 25 | $163.2M | $246.0M | ||
| Q2 25 | $162.8M | $241.6M | ||
| Q1 25 | $164.6M | $231.3M | ||
| Q4 24 | $164.1M | $232.1M | ||
| Q3 24 | $153.1M | $230.5M | ||
| Q2 24 | $152.9M | $233.5M | ||
| Q1 24 | $154.4M | $234.5M |
| Q4 25 | $12.6M | $-80.6M | ||
| Q3 25 | $5.6M | $-69.8M | ||
| Q2 25 | $4.5M | $-62.6M | ||
| Q1 25 | $8.9M | $-71.3M | ||
| Q4 24 | $13.0M | $-138.0M | ||
| Q3 24 | $2.3M | $-391.4M | ||
| Q2 24 | $371.0K | $-576.7M | ||
| Q1 24 | $516.0K | $-539.7M |
| Q4 25 | 56.4% | — | ||
| Q3 25 | 54.2% | — | ||
| Q2 25 | 51.8% | — | ||
| Q1 25 | 54.5% | — | ||
| Q4 24 | 56.3% | — | ||
| Q3 24 | 50.8% | — | ||
| Q2 24 | 50.2% | — | ||
| Q1 24 | 53.1% | — |
| Q4 25 | 12.0% | -3.1% | ||
| Q3 25 | 5.9% | 4.1% | ||
| Q2 25 | 4.3% | 6.9% | ||
| Q1 25 | 7.4% | 4.2% | ||
| Q4 24 | 13.1% | -17.8% | ||
| Q3 24 | 2.7% | -146.7% | ||
| Q2 24 | 1.5% | -224.4% | ||
| Q1 24 | 3.4% | -207.4% |
| Q4 25 | 8.0% | -32.7% | ||
| Q3 25 | 3.4% | -28.4% | ||
| Q2 25 | 2.8% | -25.9% | ||
| Q1 25 | 5.4% | -30.8% | ||
| Q4 24 | 7.9% | -59.4% | ||
| Q3 24 | 1.5% | -169.8% | ||
| Q2 24 | 0.2% | -247.0% | ||
| Q1 24 | 0.3% | -230.1% |
| Q4 25 | $0.67 | $-4.88 | ||
| Q3 25 | $0.30 | $-4.23 | ||
| Q2 25 | $-0.02 | $-3.81 | ||
| Q1 25 | $0.41 | $-4.38 | ||
| Q4 24 | $0.63 | $-8.49 | ||
| Q3 24 | $0.04 | $-24.25 | ||
| Q2 24 | $-0.06 | $-35.78 | ||
| Q1 24 | $-0.06 | $-33.40 |
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 | $16.8M |
| Total DebtLower is stronger | $94.7M | $4.6B |
| Stockholders' EquityBook value | $294.8M | $-173.9M |
| Total Assets | $521.4M | $4.9B |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $16.8M | ||
| Q3 25 | $191.3M | $39.2M | ||
| Q2 25 | $174.9M | $56.4M | ||
| Q1 25 | $161.6M | $23.1M | ||
| Q4 24 | $131.9M | $16.8M | ||
| Q3 24 | $135.4M | $86.6M | ||
| Q2 24 | $129.8M | $48.8M | ||
| Q1 24 | $125.3M | $58.7M |
| Q4 25 | $94.7M | $4.6B | ||
| Q3 25 | $94.4M | $4.5B | ||
| Q2 25 | $94.1M | $4.5B | ||
| Q1 25 | $93.7M | $4.5B | ||
| Q4 24 | $93.4M | $4.5B | ||
| Q3 24 | $93.1M | $4.5B | ||
| Q2 24 | $92.8M | $4.5B | ||
| Q1 24 | $95.0M | $4.5B |
| Q4 25 | $294.8M | $-173.9M | ||
| Q3 25 | $279.3M | $-101.8M | ||
| Q2 25 | $272.2M | $-39.9M | ||
| Q1 25 | $310.0M | $14.8M | ||
| Q4 24 | $303.9M | $84.0M | ||
| Q3 24 | $290.4M | $207.6M | ||
| Q2 24 | $288.7M | $603.4M | ||
| Q1 24 | $288.5M | $1.2B |
| Q4 25 | $521.4M | $4.9B | ||
| Q3 25 | $525.3M | $5.0B | ||
| Q2 25 | $537.4M | $5.1B | ||
| Q1 25 | $578.7M | $5.1B | ||
| Q4 24 | $570.1M | $5.2B | ||
| Q3 24 | $569.6M | $5.3B | ||
| Q2 24 | $560.7M | $5.7B | ||
| Q1 24 | $559.0M | $6.4B |
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.30× | 304.87× | ||
| Q4 24 | 0.31× | 53.67× | ||
| Q3 24 | 0.32× | 21.73× | ||
| Q2 24 | 0.32× | 7.48× | ||
| Q1 24 | 0.33× | 3.85× |
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 | $66.3M |
| Free Cash FlowOCF − Capex | $-15.6M | $36.4M |
| FCF MarginFCF / Revenue | -9.9% | 14.8% |
| Capex IntensityCapex / Revenue | 2.6% | 12.1% |
| Cash ConversionOCF / Net Profit | -0.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $-12.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $66.3M | ||
| Q3 25 | $21.7M | $19.9M | ||
| Q2 25 | $14.8M | $61.2M | ||
| Q1 25 | $37.0M | $-30.1M | ||
| Q4 24 | $1.6M | $-33.4M | ||
| Q3 24 | $14.1M | $72.8M | ||
| Q2 24 | $12.5M | $18.5M | ||
| Q1 24 | $20.7M | $49.7M |
| Q4 25 | $-15.6M | $36.4M | ||
| Q3 25 | $17.5M | $-16.3M | ||
| Q2 25 | $11.1M | $36.6M | ||
| Q1 25 | $33.1M | $-68.9M | ||
| Q4 24 | $-1.8M | $-63.8M | ||
| Q3 24 | $7.8M | $41.1M | ||
| Q2 24 | $7.3M | $-7.0M | ||
| Q1 24 | $14.5M | $19.2M |
| Q4 25 | -9.9% | 14.8% | ||
| Q3 25 | 10.7% | -6.6% | ||
| Q2 25 | 6.8% | 15.2% | ||
| Q1 25 | 20.1% | -29.8% | ||
| Q4 24 | -1.1% | -27.5% | ||
| Q3 24 | 5.1% | 17.8% | ||
| Q2 24 | 4.7% | -3.0% | ||
| Q1 24 | 9.4% | 8.2% |
| Q4 25 | 2.6% | 12.1% | ||
| Q3 25 | 2.6% | 14.7% | ||
| Q2 25 | 2.3% | 10.2% | ||
| Q1 25 | 2.4% | 16.8% | ||
| Q4 24 | 2.0% | 13.1% | ||
| Q3 24 | 4.1% | 13.8% | ||
| Q2 24 | 3.4% | 10.9% | ||
| Q1 24 | 4.0% | 13.0% |
| Q4 25 | -0.92× | — | ||
| Q3 25 | 3.90× | — | ||
| Q2 25 | 3.29× | — | ||
| Q1 25 | 4.16× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 6.22× | — | ||
| Q2 24 | 33.57× | — | ||
| 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% |
CTEV
Segment breakdown not available.
