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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Nutex Health, Inc. (NUTX). 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 $151.7M, roughly 1.0× Nutex Health, Inc.). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs 7.8%, a 0.2% gap on every dollar of revenue. On growth, AMERICAN PUBLIC EDUCATION INC posted the faster year-over-year revenue change (-3.5% vs -41.1%). Nutex Health, Inc. produced more free cash flow last quarter ($69.0M vs $-15.6M). Over the past eight quarters, Nutex Health, Inc.'s revenue compounded faster (50.0% 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.
Nutex Health Inc. is an American for-profit health care company and operator of healthcare facilities headquartered in Houston, Texas.
APEI vs NUTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $151.7M |
| Net Profit | $12.6M | $11.8M |
| Gross Margin | 56.4% | 30.4% |
| Operating Margin | 12.0% | 20.4% |
| Net Margin | 8.0% | 7.8% |
| Revenue YoY | -3.5% | -41.1% |
| Net Profit YoY | -2.7% | -80.8% |
| EPS (diluted) | $0.67 | $2.34 |
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 | $151.7M | ||
| Q3 25 | $163.2M | $267.8M | ||
| Q2 25 | $162.8M | $244.0M | ||
| Q1 25 | $164.6M | $211.8M | ||
| Q4 24 | $164.1M | $257.6M | ||
| Q3 24 | $153.1M | $78.8M | ||
| Q2 24 | $152.9M | $76.1M | ||
| Q1 24 | $154.4M | $67.5M |
| Q4 25 | $12.6M | $11.8M | ||
| Q3 25 | $5.6M | $55.4M | ||
| Q2 25 | $4.5M | $-17.7M | ||
| Q1 25 | $8.9M | $21.2M | ||
| Q4 24 | $13.0M | $61.6M | ||
| Q3 24 | $2.3M | $-8.8M | ||
| Q2 24 | $371.0K | $-364.0K | ||
| Q1 24 | $516.0K | $-364.0K |
| Q4 25 | 56.4% | 30.4% | ||
| Q3 25 | 54.2% | 57.8% | ||
| Q2 25 | 51.8% | 51.2% | ||
| Q1 25 | 54.5% | 55.9% | ||
| Q4 24 | 56.3% | 55.0% | ||
| Q3 24 | 50.8% | 27.8% | ||
| Q2 24 | 50.2% | 29.7% | ||
| Q1 24 | 53.1% | 15.1% |
| Q4 25 | 12.0% | 20.4% | ||
| Q3 25 | 5.9% | 48.7% | ||
| Q2 25 | 4.3% | 13.8% | ||
| Q1 25 | 7.4% | 38.1% | ||
| Q4 24 | 13.1% | 44.4% | ||
| Q3 24 | 2.7% | 12.3% | ||
| Q2 24 | 1.5% | 7.0% | ||
| Q1 24 | 3.4% | 2.1% |
| Q4 25 | 8.0% | 7.8% | ||
| Q3 25 | 3.4% | 20.7% | ||
| Q2 25 | 2.8% | -7.3% | ||
| Q1 25 | 5.4% | 10.0% | ||
| Q4 24 | 7.9% | 23.9% | ||
| Q3 24 | 1.5% | -11.2% | ||
| Q2 24 | 0.2% | -0.5% | ||
| Q1 24 | 0.3% | -0.5% |
| Q4 25 | $0.67 | $2.34 | ||
| Q3 25 | $0.30 | $7.76 | ||
| Q2 25 | $-0.02 | $-2.95 | ||
| Q1 25 | $0.41 | $3.33 | ||
| Q4 24 | $0.63 | $11.56 | ||
| Q3 24 | $0.04 | $-1.72 | ||
| Q2 24 | $-0.06 | $-0.07 | ||
| Q1 24 | $-0.06 | $-0.08 |
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 | $185.6M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $329.4M |
| Total Assets | $521.4M | $918.5M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $185.6M | ||
| Q3 25 | $191.3M | $166.0M | ||
| Q2 25 | $174.9M | $96.7M | ||
| Q1 25 | $161.6M | $84.7M | ||
| Q4 24 | $131.9M | $40.6M | ||
| Q3 24 | $135.4M | $46.9M | ||
| Q2 24 | $129.8M | $40.8M | ||
| Q1 24 | $125.3M | $30.0M |
| 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 | $329.4M | ||
| Q3 25 | $279.3M | $317.2M | ||
| Q2 25 | $272.2M | $235.3M | ||
| Q1 25 | $310.0M | $176.9M | ||
| Q4 24 | $303.9M | $132.4M | ||
| Q3 24 | $290.4M | $60.4M | ||
| Q2 24 | $288.7M | $62.7M | ||
| Q1 24 | $288.5M | $63.0M |
| Q4 25 | $521.4M | $918.5M | ||
| Q3 25 | $525.3M | $964.5M | ||
| Q2 25 | $537.4M | $841.0M | ||
| Q1 25 | $578.7M | $761.9M | ||
| Q4 24 | $570.1M | $655.3M | ||
| Q3 24 | $569.6M | $438.5M | ||
| Q2 24 | $560.7M | $422.4M | ||
| Q1 24 | $559.0M | $404.3M |
| 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 | $70.4M |
| Free Cash FlowOCF − Capex | $-15.6M | $69.0M |
| FCF MarginFCF / Revenue | -9.9% | 45.5% |
| Capex IntensityCapex / Revenue | 2.6% | 0.9% |
| Cash ConversionOCF / Net Profit | -0.92× | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $245.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $70.4M | ||
| Q3 25 | $21.7M | $99.5M | ||
| Q2 25 | $14.8M | $27.3M | ||
| Q1 25 | $37.0M | $51.0M | ||
| Q4 24 | $1.6M | $54.0K | ||
| Q3 24 | $14.1M | $6.8M | ||
| Q2 24 | $12.5M | $13.3M | ||
| Q1 24 | $20.7M | $3.1M |
| Q4 25 | $-15.6M | $69.0M | ||
| Q3 25 | $17.5M | $99.2M | ||
| Q2 25 | $11.1M | $26.5M | ||
| Q1 25 | $33.1M | $50.9M | ||
| Q4 24 | $-1.8M | $-341.0K | ||
| Q3 24 | $7.8M | $6.2M | ||
| Q2 24 | $7.3M | $12.7M | ||
| Q1 24 | $14.5M | $2.3M |
| Q4 25 | -9.9% | 45.5% | ||
| Q3 25 | 10.7% | 37.0% | ||
| Q2 25 | 6.8% | 10.9% | ||
| Q1 25 | 20.1% | 24.0% | ||
| Q4 24 | -1.1% | -0.1% | ||
| Q3 24 | 5.1% | 7.8% | ||
| Q2 24 | 4.7% | 16.7% | ||
| Q1 24 | 9.4% | 3.4% |
| Q4 25 | 2.6% | 0.9% | ||
| Q3 25 | 2.6% | 0.1% | ||
| Q2 25 | 2.3% | 0.3% | ||
| Q1 25 | 2.4% | 0.0% | ||
| Q4 24 | 2.0% | 0.2% | ||
| Q3 24 | 4.1% | 0.8% | ||
| Q2 24 | 3.4% | 0.7% | ||
| Q1 24 | 4.0% | 1.1% |
| Q4 25 | -0.92× | 5.95× | ||
| Q3 25 | 3.90× | 1.80× | ||
| Q2 25 | 3.29× | — | ||
| Q1 25 | 4.16× | 2.40× | ||
| Q4 24 | 0.12× | 0.00× | ||
| 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% |
NUTX
| Hospital Division | $143.7M | 95% |
| Population Health Management Division | $8.0M | 5% |
