vs
Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Grand Canyon Education, Inc. (LOPE). Click either name above to swap in a different company.
Grand Canyon Education, Inc. is the larger business by last-quarter revenue ($308.1M vs $158.3M, roughly 1.9× AMERICAN PUBLIC EDUCATION INC). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs 8.0%, a 20.2% gap on every dollar of revenue. On growth, Grand Canyon Education, Inc. posted the faster year-over-year revenue change (5.3% vs -3.5%). Grand Canyon Education, Inc. produced more free cash flow last quarter ($122.9M vs $-15.6M). Over the past eight quarters, Grand Canyon Education, Inc.'s revenue compounded faster (5.9% 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.
Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company in 2008.
APEI vs LOPE — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $308.1M |
| Net Profit | $12.6M | $86.7M |
| Gross Margin | 56.4% | — |
| Operating Margin | 12.0% | 35.1% |
| Net Margin | 8.0% | 28.1% |
| Revenue YoY | -3.5% | 5.3% |
| Net Profit YoY | -2.7% | 5.9% |
| EPS (diluted) | $0.67 | $3.13 |
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 | $308.1M | ||
| Q3 25 | $163.2M | $261.1M | ||
| Q2 25 | $162.8M | $247.5M | ||
| Q1 25 | $164.6M | $289.3M | ||
| Q4 24 | $164.1M | $292.6M | ||
| Q3 24 | $153.1M | $238.3M | ||
| Q2 24 | $152.9M | $227.5M | ||
| Q1 24 | $154.4M | $274.7M |
| Q4 25 | $12.6M | $86.7M | ||
| Q3 25 | $5.6M | $16.3M | ||
| Q2 25 | $4.5M | $41.5M | ||
| Q1 25 | $8.9M | $71.6M | ||
| Q4 24 | $13.0M | $81.9M | ||
| Q3 24 | $2.3M | $41.5M | ||
| Q2 24 | $371.0K | $34.9M | ||
| Q1 24 | $516.0K | $68.0M |
| 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% | 35.1% | ||
| Q3 25 | 5.9% | 6.9% | ||
| Q2 25 | 4.3% | 20.9% | ||
| Q1 25 | 7.4% | 30.4% | ||
| Q4 24 | 13.1% | 34.2% | ||
| Q3 24 | 2.7% | 20.2% | ||
| Q2 24 | 1.5% | 18.8% | ||
| Q1 24 | 3.4% | 30.8% |
| Q4 25 | 8.0% | 28.1% | ||
| Q3 25 | 3.4% | 6.2% | ||
| Q2 25 | 2.8% | 16.8% | ||
| Q1 25 | 5.4% | 24.8% | ||
| Q4 24 | 7.9% | 28.0% | ||
| Q3 24 | 1.5% | 17.4% | ||
| Q2 24 | 0.2% | 15.3% | ||
| Q1 24 | 0.3% | 24.8% |
| Q4 25 | $0.67 | $3.13 | ||
| Q3 25 | $0.30 | $0.58 | ||
| Q2 25 | $-0.02 | $1.48 | ||
| Q1 25 | $0.41 | $2.52 | ||
| Q4 24 | $0.63 | $2.83 | ||
| Q3 24 | $0.04 | $1.42 | ||
| Q2 24 | $-0.06 | $1.19 | ||
| Q1 24 | $-0.06 | $2.29 |
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 | $111.8M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $746.9M |
| Total Assets | $521.4M | $992.3M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $111.8M | ||
| Q3 25 | $191.3M | $97.3M | ||
| Q2 25 | $174.9M | $192.3M | ||
| Q1 25 | $161.6M | $144.5M | ||
| Q4 24 | $131.9M | $324.6M | ||
| Q3 24 | $135.4M | $263.6M | ||
| Q2 24 | $129.8M | $241.3M | ||
| Q1 24 | $125.3M | $196.2M |
| 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 | $746.9M | ||
| Q3 25 | $279.3M | $758.0M | ||
| Q2 25 | $272.2M | $778.0M | ||
| Q1 25 | $310.0M | $780.7M | ||
| Q4 24 | $303.9M | $783.9M | ||
| Q3 24 | $290.4M | $764.1M | ||
| Q2 24 | $288.7M | $759.2M | ||
| Q1 24 | $288.5M | $759.4M |
| Q4 25 | $521.4M | $992.3M | ||
| Q3 25 | $525.3M | $1.0B | ||
| Q2 25 | $537.4M | $1.0B | ||
| Q1 25 | $578.7M | $1.0B | ||
| Q4 24 | $570.1M | $1.0B | ||
| Q3 24 | $569.6M | $992.9M | ||
| Q2 24 | $560.7M | $992.7M | ||
| Q1 24 | $559.0M | $1.0B |
| 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 | $130.5M |
| Free Cash FlowOCF − Capex | $-15.6M | $122.9M |
| FCF MarginFCF / Revenue | -9.9% | 39.9% |
| Capex IntensityCapex / Revenue | 2.6% | 2.5% |
| Cash ConversionOCF / Net Profit | -0.92× | 1.50× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $238.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $130.5M | ||
| Q3 25 | $21.7M | $-48.6M | ||
| Q2 25 | $14.8M | $124.0M | ||
| Q1 25 | $37.0M | $67.6M | ||
| Q4 24 | $1.6M | $135.8M | ||
| Q3 24 | $14.1M | $-29.4M | ||
| Q2 24 | $12.5M | $98.6M | ||
| Q1 24 | $20.7M | $85.0M |
| Q4 25 | $-15.6M | $122.9M | ||
| Q3 25 | $17.5M | $-58.3M | ||
| Q2 25 | $11.1M | $115.4M | ||
| Q1 25 | $33.1M | $58.7M | ||
| Q4 24 | $-1.8M | $126.1M | ||
| Q3 24 | $7.8M | $-39.0M | ||
| Q2 24 | $7.3M | $89.6M | ||
| Q1 24 | $14.5M | $76.0M |
| Q4 25 | -9.9% | 39.9% | ||
| Q3 25 | 10.7% | -22.3% | ||
| Q2 25 | 6.8% | 46.6% | ||
| Q1 25 | 20.1% | 20.3% | ||
| Q4 24 | -1.1% | 43.1% | ||
| Q3 24 | 5.1% | -16.3% | ||
| Q2 24 | 4.7% | 39.4% | ||
| Q1 24 | 9.4% | 27.7% |
| Q4 25 | 2.6% | 2.5% | ||
| Q3 25 | 2.6% | 3.7% | ||
| Q2 25 | 2.3% | 3.5% | ||
| Q1 25 | 2.4% | 3.1% | ||
| Q4 24 | 2.0% | 3.3% | ||
| Q3 24 | 4.1% | 4.0% | ||
| Q2 24 | 3.4% | 3.9% | ||
| Q1 24 | 4.0% | 3.3% |
| Q4 25 | -0.92× | 1.50× | ||
| Q3 25 | 3.90× | -2.99× | ||
| Q2 25 | 3.29× | 2.98× | ||
| Q1 25 | 4.16× | 0.94× | ||
| Q4 24 | 0.12× | 1.66× | ||
| Q3 24 | 6.22× | -0.71× | ||
| Q2 24 | 33.57× | 2.83× | ||
| Q1 24 | 40.20× | 1.25× |
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% |
LOPE
Segment breakdown not available.
