vs
Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT). Click either name above to swap in a different company.
ESSENTIAL PROPERTIES REALTY TRUST, INC. is the larger business by last-quarter revenue ($158.8M vs $158.3M, roughly 1.0× AMERICAN PUBLIC EDUCATION INC). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 8.0%, a 29.8% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs -3.5%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% 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.
Essential Properties Realty Trust is a publicly traded real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of single-tenant net-leased commercial properties across the United States. Its assets primarily cover essential service-oriented sectors including casual dining, automotive services, medical clinics, early childhood education centers and light industrial facilities, with tenants mostly holding robust long-term operating track records.
APEI vs EPRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $158.8M |
| Net Profit | $12.6M | $60.0M |
| Gross Margin | 56.4% | — |
| Operating Margin | 12.0% | 56.5% |
| Net Margin | 8.0% | 37.8% |
| Revenue YoY | -3.5% | 22.8% |
| Net Profit YoY | -2.7% | 6.5% |
| EPS (diluted) | $0.67 | $0.28 |
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.
| Q1 26 | — | $158.8M | ||
| Q4 25 | $158.3M | $149.9M | ||
| Q3 25 | $163.2M | $144.9M | ||
| Q2 25 | $162.8M | $137.1M | ||
| Q1 25 | $164.6M | $129.4M | ||
| Q4 24 | $164.1M | $119.7M | ||
| Q3 24 | $153.1M | $117.1M | ||
| Q2 24 | $152.9M | $109.3M |
| Q1 26 | — | $60.0M | ||
| Q4 25 | $12.6M | $68.1M | ||
| Q3 25 | $5.6M | $65.6M | ||
| Q2 25 | $4.5M | $63.2M | ||
| Q1 25 | $8.9M | $56.1M | ||
| Q4 24 | $13.0M | $55.4M | ||
| Q3 24 | $2.3M | $49.1M | ||
| Q2 24 | $371.0K | $51.5M |
| Q1 26 | — | — | ||
| 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 26 | — | 56.5% | ||
| Q4 25 | 12.0% | 65.9% | ||
| Q3 25 | 5.9% | 64.7% | ||
| Q2 25 | 4.3% | 64.1% | ||
| Q1 25 | 7.4% | 61.6% | ||
| Q4 24 | 13.1% | 66.1% | ||
| Q3 24 | 2.7% | 59.7% | ||
| Q2 24 | 1.5% | 61.1% |
| Q1 26 | — | 37.8% | ||
| Q4 25 | 8.0% | 45.4% | ||
| Q3 25 | 3.4% | 45.3% | ||
| Q2 25 | 2.8% | 46.1% | ||
| Q1 25 | 5.4% | 43.4% | ||
| Q4 24 | 7.9% | 46.3% | ||
| Q3 24 | 1.5% | 42.0% | ||
| Q2 24 | 0.2% | 47.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | $0.67 | $0.34 | ||
| Q3 25 | $0.30 | $0.33 | ||
| Q2 25 | $-0.02 | $0.32 | ||
| Q1 25 | $0.41 | $0.29 | ||
| Q4 24 | $0.63 | $0.31 | ||
| Q3 24 | $0.04 | $0.27 | ||
| Q2 24 | $-0.06 | $0.29 |
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 | $15.2M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $4.4B |
| Total Assets | $521.4M | $7.2B |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $15.2M | ||
| Q4 25 | $174.1M | $60.2M | ||
| Q3 25 | $191.3M | $23.8M | ||
| Q2 25 | $174.9M | $20.8M | ||
| Q1 25 | $161.6M | $47.0M | ||
| Q4 24 | $131.9M | $40.7M | ||
| Q3 24 | $135.4M | $32.7M | ||
| Q2 24 | $129.8M | $23.6M |
| Q1 26 | — | — | ||
| Q4 25 | $94.7M | $2.5B | ||
| Q3 25 | $94.4M | $2.6B | ||
| Q2 25 | $94.1M | $2.3B | ||
| Q1 25 | $93.7M | $2.1B | ||
| Q4 24 | $93.4M | $2.1B | ||
| Q3 24 | $93.1M | $2.2B | ||
| Q2 24 | $92.8M | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $294.8M | $4.2B | ||
| Q3 25 | $279.3M | $3.8B | ||
| Q2 25 | $272.2M | $3.8B | ||
| Q1 25 | $310.0M | $3.8B | ||
| Q4 24 | $303.9M | $3.6B | ||
| Q3 24 | $290.4M | $3.2B | ||
| Q2 24 | $288.7M | $3.2B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | $521.4M | $6.9B | ||
| Q3 25 | $525.3M | $6.6B | ||
| Q2 25 | $537.4M | $6.3B | ||
| Q1 25 | $578.7M | $6.1B | ||
| Q4 24 | $570.1M | $5.8B | ||
| Q3 24 | $569.6M | $5.5B | ||
| Q2 24 | $560.7M | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.32× | 0.60× | ||
| Q3 25 | 0.34× | 0.69× | ||
| Q2 25 | 0.35× | 0.61× | ||
| Q1 25 | 0.30× | 0.56× | ||
| Q4 24 | 0.31× | 0.60× | ||
| Q3 24 | 0.32× | 0.69× | ||
| Q2 24 | 0.32× | 0.59× |
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 | — |
| Free Cash FlowOCF − Capex | $-15.6M | — |
| FCF MarginFCF / Revenue | -9.9% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | -0.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-11.6M | $381.1M | ||
| Q3 25 | $21.7M | $99.0M | ||
| Q2 25 | $14.8M | $99.8M | ||
| Q1 25 | $37.0M | $77.2M | ||
| Q4 24 | $1.6M | $308.5M | ||
| Q3 24 | $14.1M | $73.5M | ||
| Q2 24 | $12.5M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-15.6M | — | ||
| Q3 25 | $17.5M | — | ||
| Q2 25 | $11.1M | — | ||
| Q1 25 | $33.1M | — | ||
| Q4 24 | $-1.8M | — | ||
| Q3 24 | $7.8M | — | ||
| Q2 24 | $7.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | -9.9% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 6.8% | — | ||
| Q1 25 | 20.1% | — | ||
| Q4 24 | -1.1% | — | ||
| Q3 24 | 5.1% | — | ||
| Q2 24 | 4.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 3.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | -0.92× | 5.60× | ||
| Q3 25 | 3.90× | 1.51× | ||
| Q2 25 | 3.29× | 1.58× | ||
| Q1 25 | 4.16× | 1.38× | ||
| Q4 24 | 0.12× | 5.57× | ||
| Q3 24 | 6.22× | 1.50× | ||
| Q2 24 | 33.57× | 1.57× |
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% |
EPRT
| Rental revenue 1,2 | $149.4M | 94% |
| Other | $8.6M | 5% |
| Other revenue | $779.0K | 0% |
