vs
Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $158.3M, roughly 1.0× AMERICAN PUBLIC EDUCATION INC). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs 4.7%, a 3.2% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs -3.5%). INSTEEL INDUSTRIES INC produced more free cash flow last quarter ($-2.2M vs $-15.6M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% 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.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
APEI vs IIIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $159.9M |
| Net Profit | $12.6M | $7.6M |
| Gross Margin | 56.4% | 11.3% |
| Operating Margin | 12.0% | 6.0% |
| Net Margin | 8.0% | 4.7% |
| Revenue YoY | -3.5% | 23.3% |
| Net Profit YoY | -2.7% | 602.4% |
| EPS (diluted) | $0.67 | $0.39 |
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 | $159.9M | ||
| Q3 25 | $163.2M | $177.4M | ||
| Q2 25 | $162.8M | $179.9M | ||
| Q1 25 | $164.6M | $160.7M | ||
| Q4 24 | $164.1M | $129.7M | ||
| Q3 24 | $153.1M | $134.3M | ||
| Q2 24 | $152.9M | $145.8M | ||
| Q1 24 | $154.4M | $127.4M |
| Q4 25 | $12.6M | $7.6M | ||
| Q3 25 | $5.6M | $14.6M | ||
| Q2 25 | $4.5M | $15.2M | ||
| Q1 25 | $8.9M | $10.2M | ||
| Q4 24 | $13.0M | $1.1M | ||
| Q3 24 | $2.3M | $4.7M | ||
| Q2 24 | $371.0K | $6.6M | ||
| Q1 24 | $516.0K | $6.9M |
| Q4 25 | 56.4% | 11.3% | ||
| Q3 25 | 54.2% | 16.1% | ||
| Q2 25 | 51.8% | 17.1% | ||
| Q1 25 | 54.5% | 15.3% | ||
| Q4 24 | 56.3% | 7.3% | ||
| Q3 24 | 50.8% | 9.1% | ||
| Q2 24 | 50.2% | 10.6% | ||
| Q1 24 | 53.1% | 12.3% |
| Q4 25 | 12.0% | 6.0% | ||
| Q3 25 | 5.9% | 10.8% | ||
| Q2 25 | 4.3% | 11.0% | ||
| Q1 25 | 7.4% | 8.3% | ||
| Q4 24 | 13.1% | 1.1% | ||
| Q3 24 | 2.7% | 4.5% | ||
| Q2 24 | 1.5% | 6.0% | ||
| Q1 24 | 3.4% | 7.0% |
| Q4 25 | 8.0% | 4.7% | ||
| Q3 25 | 3.4% | 8.2% | ||
| Q2 25 | 2.8% | 8.4% | ||
| Q1 25 | 5.4% | 6.4% | ||
| Q4 24 | 7.9% | 0.8% | ||
| Q3 24 | 1.5% | 3.5% | ||
| Q2 24 | 0.2% | 4.5% | ||
| Q1 24 | 0.3% | 5.4% |
| Q4 25 | $0.67 | $0.39 | ||
| Q3 25 | $0.30 | $0.74 | ||
| Q2 25 | $-0.02 | $0.78 | ||
| Q1 25 | $0.41 | $0.52 | ||
| Q4 24 | $0.63 | $0.06 | ||
| Q3 24 | $0.04 | $0.24 | ||
| Q2 24 | $-0.06 | $0.34 | ||
| Q1 24 | $-0.06 | $0.35 |
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 | $15.6M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $358.8M |
| Total Assets | $521.4M | $456.1M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $15.6M | ||
| Q3 25 | $191.3M | $38.6M | ||
| Q2 25 | $174.9M | $53.7M | ||
| Q1 25 | $161.6M | $28.4M | ||
| Q4 24 | $131.9M | $36.0M | ||
| Q3 24 | $135.4M | $111.5M | ||
| Q2 24 | $129.8M | $97.7M | ||
| Q1 24 | $125.3M | $83.9M |
| Q4 25 | $94.7M | — | ||
| Q3 25 | $94.4M | — | ||
| Q2 25 | $94.1M | — | ||
| Q1 25 | $93.7M | — | ||
| Q4 24 | $93.4M | — | ||
| Q3 24 | $93.1M | — | ||
| Q2 24 | $92.8M | — | ||
| Q1 24 | $95.0M | — |
| Q4 25 | $294.8M | $358.8M | ||
| Q3 25 | $279.3M | $371.5M | ||
| Q2 25 | $272.2M | $356.2M | ||
| Q1 25 | $310.0M | $341.4M | ||
| Q4 24 | $303.9M | $331.6M | ||
| Q3 24 | $290.4M | $350.9M | ||
| Q2 24 | $288.7M | $346.0M | ||
| Q1 24 | $288.5M | $340.6M |
| Q4 25 | $521.4M | $456.1M | ||
| Q3 25 | $525.3M | $462.6M | ||
| Q2 25 | $537.4M | $471.9M | ||
| Q1 25 | $578.7M | $421.9M | ||
| Q4 24 | $570.1M | $404.7M | ||
| Q3 24 | $569.6M | $422.6M | ||
| Q2 24 | $560.7M | $414.6M | ||
| Q1 24 | $559.0M | $397.2M |
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.32× | — | ||
| Q1 24 | 0.33× | — |
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 | $-701.0K |
| Free Cash FlowOCF − Capex | $-15.6M | $-2.2M |
| FCF MarginFCF / Revenue | -9.9% | -1.4% |
| Capex IntensityCapex / Revenue | 2.6% | 0.9% |
| Cash ConversionOCF / Net Profit | -0.92× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $-701.0K | ||
| Q3 25 | $21.7M | $-17.0M | ||
| Q2 25 | $14.8M | $28.5M | ||
| Q1 25 | $37.0M | $-3.3M | ||
| Q4 24 | $1.6M | $19.0M | ||
| Q3 24 | $14.1M | $16.2M | ||
| Q2 24 | $12.5M | $18.8M | ||
| Q1 24 | $20.7M | $1.4M |
| Q4 25 | $-15.6M | $-2.2M | ||
| Q3 25 | $17.5M | $-18.7M | ||
| Q2 25 | $11.1M | $26.9M | ||
| Q1 25 | $33.1M | $-5.5M | ||
| Q4 24 | $-1.8M | $16.3M | ||
| Q3 24 | $7.8M | $14.5M | ||
| Q2 24 | $7.3M | $15.5M | ||
| Q1 24 | $14.5M | $-580.0K |
| Q4 25 | -9.9% | -1.4% | ||
| Q3 25 | 10.7% | -10.6% | ||
| Q2 25 | 6.8% | 15.0% | ||
| Q1 25 | 20.1% | -3.5% | ||
| Q4 24 | -1.1% | 12.6% | ||
| Q3 24 | 5.1% | 10.8% | ||
| Q2 24 | 4.7% | 10.7% | ||
| Q1 24 | 9.4% | -0.5% |
| Q4 25 | 2.6% | 0.9% | ||
| Q3 25 | 2.6% | 1.0% | ||
| Q2 25 | 2.3% | 0.9% | ||
| Q1 25 | 2.4% | 1.4% | ||
| Q4 24 | 2.0% | 2.1% | ||
| Q3 24 | 4.1% | 1.3% | ||
| Q2 24 | 3.4% | 2.2% | ||
| Q1 24 | 4.0% | 1.5% |
| Q4 25 | -0.92× | -0.09× | ||
| Q3 25 | 3.90× | -1.17× | ||
| Q2 25 | 3.29× | 1.88× | ||
| Q1 25 | 4.16× | -0.32× | ||
| Q4 24 | 0.12× | 17.56× | ||
| Q3 24 | 6.22× | 3.48× | ||
| Q2 24 | 33.57× | 2.86× | ||
| Q1 24 | 40.20× | 0.20× |
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% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
