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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Goosehead Insurance, Inc. (GSHD). Click either name above to swap in a different company.
AMERICAN PUBLIC EDUCATION INC is the larger business by last-quarter revenue ($158.3M vs $93.1M, roughly 1.7× Goosehead Insurance, Inc.). Goosehead Insurance, Inc. runs the higher net margin — 8.6% vs 8.0%, a 0.7% gap on every dollar of revenue. On growth, Goosehead Insurance, Inc. posted the faster year-over-year revenue change (23.1% vs -3.5%). Over the past eight quarters, Goosehead Insurance, Inc.'s revenue compounded faster (9.2% 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.
Goosehead Insurance is a U.S.-based personal lines insurance agency that offers a wide range of coverage products including auto, home, renters, flood, and specialty insurance. It partners with hundreds of insurance carriers to provide clients with tailored, cost-effective coverage options, operating via corporate locations and a national franchise network for independent agents.
APEI vs GSHD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $93.1M |
| Net Profit | $12.6M | $8.0M |
| Gross Margin | 56.4% | — |
| Operating Margin | 12.0% | 16.1% |
| Net Margin | 8.0% | 8.6% |
| Revenue YoY | -3.5% | 23.1% |
| Net Profit YoY | -2.7% | 204.0% |
| EPS (diluted) | $0.67 | $0.19 |
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 | — | $93.1M | ||
| Q4 25 | $158.3M | $105.3M | ||
| Q3 25 | $163.2M | $90.4M | ||
| Q2 25 | $162.8M | $94.0M | ||
| Q1 25 | $164.6M | $75.6M | ||
| Q4 24 | $164.1M | $93.9M | ||
| Q3 24 | $153.1M | $78.0M | ||
| Q2 24 | $152.9M | $78.1M |
| Q1 26 | — | $8.0M | ||
| Q4 25 | $12.6M | $12.4M | ||
| Q3 25 | $5.6M | $7.9M | ||
| Q2 25 | $4.5M | $5.2M | ||
| Q1 25 | $8.9M | $2.3M | ||
| Q4 24 | $13.0M | $14.9M | ||
| Q3 24 | $2.3M | $7.6M | ||
| Q2 24 | $371.0K | $6.2M |
| 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 | — | 16.1% | ||
| Q4 25 | 12.0% | 29.4% | ||
| Q3 25 | 5.9% | 23.5% | ||
| Q2 25 | 4.3% | 16.7% | ||
| Q1 25 | 7.4% | 8.8% | ||
| Q4 24 | 13.1% | 29.7% | ||
| Q3 24 | 2.7% | 21.1% | ||
| Q2 24 | 1.5% | 19.7% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 8.0% | 11.8% | ||
| Q3 25 | 3.4% | 8.7% | ||
| Q2 25 | 2.8% | 5.5% | ||
| Q1 25 | 5.4% | 3.1% | ||
| Q4 24 | 7.9% | 15.8% | ||
| Q3 24 | 1.5% | 9.7% | ||
| Q2 24 | 0.2% | 7.9% |
| Q1 26 | — | $0.19 | ||
| Q4 25 | $0.67 | $0.48 | ||
| Q3 25 | $0.30 | $0.29 | ||
| Q2 25 | $-0.02 | $0.18 | ||
| Q1 25 | $0.41 | $0.09 | ||
| Q4 24 | $0.63 | $0.58 | ||
| Q3 24 | $0.04 | $0.29 | ||
| Q2 24 | $-0.06 | $0.24 |
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 | $25.7M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $-121.3M |
| Total Assets | $521.4M | $392.8M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $25.7M | ||
| Q4 25 | $174.1M | $34.4M | ||
| Q3 25 | $191.3M | $51.6M | ||
| Q2 25 | $174.9M | $92.4M | ||
| Q1 25 | $161.6M | $70.2M | ||
| Q4 24 | $131.9M | $54.3M | ||
| Q3 24 | $135.4M | $47.5M | ||
| Q2 24 | $129.8M | $23.6M |
| Q1 26 | — | — | ||
| Q4 25 | $94.7M | $289.5M | ||
| Q3 25 | $94.4M | $290.0M | ||
| Q2 25 | $94.1M | $289.8M | ||
| Q1 25 | $93.7M | $290.3M | ||
| Q4 24 | $93.4M | $82.3M | ||
| Q3 24 | $93.1M | $84.6M | ||
| Q2 24 | $92.8M | $87.0M |
| Q1 26 | — | $-121.3M | ||
| Q4 25 | $294.8M | $-95.5M | ||
| Q3 25 | $279.3M | $-105.0M | ||
| Q2 25 | $272.2M | $-78.6M | ||
| Q1 25 | $310.0M | $-88.5M | ||
| Q4 24 | $303.9M | $43.9M | ||
| Q3 24 | $290.4M | $58.3M | ||
| Q2 24 | $288.7M | $39.8M |
| Q1 26 | — | $392.8M | ||
| Q4 25 | $521.4M | $414.9M | ||
| Q3 25 | $525.3M | $403.6M | ||
| Q2 25 | $537.4M | $436.6M | ||
| Q1 25 | $578.7M | $412.6M | ||
| Q4 24 | $570.1M | $397.7M | ||
| Q3 24 | $569.6M | $358.1M | ||
| Q2 24 | $560.7M | $338.2M |
| Q1 26 | — | — | ||
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | 1.87× | ||
| Q3 24 | 0.32× | 1.45× | ||
| Q2 24 | 0.32× | 2.19× |
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 | $91.8M | ||
| Q3 25 | $21.7M | $24.2M | ||
| Q2 25 | $14.8M | $28.9M | ||
| Q1 25 | $37.0M | $15.5M | ||
| Q4 24 | $1.6M | $71.5M | ||
| Q3 24 | $14.1M | $28.1M | ||
| Q2 24 | $12.5M | $18.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-15.6M | $86.1M | ||
| Q3 25 | $17.5M | $23.7M | ||
| Q2 25 | $11.1M | $27.2M | ||
| Q1 25 | $33.1M | $14.9M | ||
| Q4 24 | $-1.8M | $70.6M | ||
| Q3 24 | $7.8M | $28.0M | ||
| Q2 24 | $7.3M | $18.6M |
| Q1 26 | — | — | ||
| Q4 25 | -9.9% | 81.8% | ||
| Q3 25 | 10.7% | 26.2% | ||
| Q2 25 | 6.8% | 28.9% | ||
| Q1 25 | 20.1% | 19.7% | ||
| Q4 24 | -1.1% | 75.1% | ||
| Q3 24 | 5.1% | 35.9% | ||
| Q2 24 | 4.7% | 23.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 5.4% | ||
| Q3 25 | 2.6% | 0.5% | ||
| Q2 25 | 2.3% | 1.8% | ||
| Q1 25 | 2.4% | 0.8% | ||
| Q4 24 | 2.0% | 1.0% | ||
| Q3 24 | 4.1% | 0.1% | ||
| Q2 24 | 3.4% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | -0.92× | 7.38× | ||
| Q3 25 | 3.90× | 3.06× | ||
| Q2 25 | 3.29× | 5.61× | ||
| Q1 25 | 4.16× | 6.61× | ||
| Q4 24 | 0.12× | 4.82× | ||
| Q3 24 | 6.22× | 3.72× | ||
| Q2 24 | 33.57× | 3.05× |
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% |
GSHD
| Renewal Royalty Fees (2) | $43.6M | 47% |
| Renewal Commissions (1) | $18.2M | 20% |
| Contingent Commissions (1) | $10.7M | 11% |
| New Business Royalty Fees (2) | $7.9M | 8% |
| New Business Commissions (1) | $7.5M | 8% |
| Other | $3.7M | 4% |
| Initial Franchise Fees (2) | $1.6M | 2% |
