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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and UNIVERSAL DISPLAY CORP \PA\ (OLED). 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 $142.2M, roughly 1.1× UNIVERSAL DISPLAY CORP \PA\). UNIVERSAL DISPLAY CORP \PA\ runs the higher net margin — 25.2% vs 8.0%, a 17.3% gap on every dollar of revenue. On growth, AMERICAN PUBLIC EDUCATION INC posted the faster year-over-year revenue change (-3.5% vs -14.5%). Over the past eight quarters, AMERICAN PUBLIC EDUCATION INC's revenue compounded faster (1.3% CAGR vs -5.3%).
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.
Universal Display Corporation is a developer and manufacturer of organic light emitting diode (OLED) technologies and materials, and it is a provider of services to the display and lighting industries.
APEI vs OLED — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $142.2M |
| Net Profit | $12.6M | $35.9M |
| Gross Margin | 56.4% | 74.6% |
| Operating Margin | 12.0% | 30.1% |
| Net Margin | 8.0% | 25.2% |
| Revenue YoY | -3.5% | -14.5% |
| Net Profit YoY | -2.7% | -44.3% |
| EPS (diluted) | $0.67 | $0.76 |
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 | — | $142.2M | ||
| Q4 25 | $158.3M | $172.9M | ||
| Q3 25 | $163.2M | $139.6M | ||
| Q2 25 | $162.8M | $171.8M | ||
| Q1 25 | $164.6M | $166.3M | ||
| Q4 24 | $164.1M | $162.3M | ||
| Q3 24 | $153.1M | $161.6M | ||
| Q2 24 | $152.9M | $158.5M |
| Q1 26 | — | $35.9M | ||
| Q4 25 | $12.6M | $66.3M | ||
| Q3 25 | $5.6M | $44.0M | ||
| Q2 25 | $4.5M | $67.3M | ||
| Q1 25 | $8.9M | $64.4M | ||
| Q4 24 | $13.0M | $46.0M | ||
| Q3 24 | $2.3M | $66.9M | ||
| Q2 24 | $371.0K | $52.3M |
| Q1 26 | — | 74.6% | ||
| Q4 25 | 56.4% | 76.1% | ||
| Q3 25 | 54.2% | 74.6% | ||
| Q2 25 | 51.8% | 77.2% | ||
| Q1 25 | 54.5% | 77.1% | ||
| Q4 24 | 56.3% | 77.0% | ||
| Q3 24 | 50.8% | 77.8% | ||
| Q2 24 | 50.2% | 75.8% |
| Q1 26 | — | 30.1% | ||
| Q4 25 | 12.0% | 38.9% | ||
| Q3 25 | 5.9% | 30.9% | ||
| Q2 25 | 4.3% | 39.9% | ||
| Q1 25 | 7.4% | 41.9% | ||
| Q4 24 | 13.1% | 32.3% | ||
| Q3 24 | 2.7% | 41.5% | ||
| Q2 24 | 1.5% | 35.6% |
| Q1 26 | — | 25.2% | ||
| Q4 25 | 8.0% | 38.4% | ||
| Q3 25 | 3.4% | 31.5% | ||
| Q2 25 | 2.8% | 39.2% | ||
| Q1 25 | 5.4% | 38.8% | ||
| Q4 24 | 7.9% | 28.4% | ||
| Q3 24 | 1.5% | 41.4% | ||
| Q2 24 | 0.2% | 33.0% |
| Q1 26 | — | $0.76 | ||
| Q4 25 | $0.67 | $1.40 | ||
| Q3 25 | $0.30 | $0.92 | ||
| Q2 25 | $-0.02 | $1.41 | ||
| Q1 25 | $0.41 | $1.35 | ||
| Q4 24 | $0.63 | $0.96 | ||
| Q3 24 | $0.04 | $1.40 | ||
| Q2 24 | $-0.06 | $1.10 |
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 | $516.4M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | — |
| Total Assets | $521.4M | $1.9B |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $516.4M | ||
| Q4 25 | $174.1M | $602.4M | ||
| Q3 25 | $191.3M | $603.0M | ||
| Q2 25 | $174.9M | $525.2M | ||
| Q1 25 | $161.6M | $571.3M | ||
| Q4 24 | $131.9M | $492.7M | ||
| Q3 24 | $135.4M | $551.6M | ||
| Q2 24 | $129.8M | $530.5M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | $294.8M | $1.8B | ||
| Q3 25 | $279.3M | $1.7B | ||
| Q2 25 | $272.2M | $1.7B | ||
| Q1 25 | $310.0M | $1.7B | ||
| Q4 24 | $303.9M | $1.6B | ||
| Q3 24 | $290.4M | $1.6B | ||
| Q2 24 | $288.7M | $1.5B |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $521.4M | $2.0B | ||
| Q3 25 | $525.3M | $1.9B | ||
| Q2 25 | $537.4M | $1.9B | ||
| Q1 25 | $578.7M | $1.9B | ||
| Q4 24 | $570.1M | $1.8B | ||
| Q3 24 | $569.6M | $1.8B | ||
| Q2 24 | $560.7M | $1.8B |
| Q1 26 | — | — | ||
| 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× | — |
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 | $108.9M |
| Free Cash FlowOCF − Capex | $-15.6M | — |
| FCF MarginFCF / Revenue | -9.9% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | -0.92× | 3.03× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $108.9M | ||
| Q4 25 | $-11.6M | $31.1M | ||
| Q3 25 | $21.7M | $97.2M | ||
| Q2 25 | $14.8M | $51.9M | ||
| Q1 25 | $37.0M | $30.6M | ||
| Q4 24 | $1.6M | $34.7M | ||
| Q3 24 | $14.1M | $79.9M | ||
| Q2 24 | $12.5M | $67.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-15.6M | $15.1M | ||
| Q3 25 | $17.5M | $84.3M | ||
| Q2 25 | $11.1M | $37.5M | ||
| Q1 25 | $33.1M | $17.5M | ||
| Q4 24 | $-1.8M | $22.0M | ||
| Q3 24 | $7.8M | $66.2M | ||
| Q2 24 | $7.3M | $57.9M |
| Q1 26 | — | — | ||
| Q4 25 | -9.9% | 8.7% | ||
| Q3 25 | 10.7% | 60.4% | ||
| Q2 25 | 6.8% | 21.8% | ||
| Q1 25 | 20.1% | 10.5% | ||
| Q4 24 | -1.1% | 13.6% | ||
| Q3 24 | 5.1% | 41.0% | ||
| Q2 24 | 4.7% | 36.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 9.3% | ||
| Q3 25 | 2.6% | 9.2% | ||
| Q2 25 | 2.3% | 8.4% | ||
| Q1 25 | 2.4% | 7.9% | ||
| Q4 24 | 2.0% | 7.8% | ||
| Q3 24 | 4.1% | 8.4% | ||
| Q2 24 | 3.4% | 5.8% |
| Q1 26 | — | 3.03× | ||
| Q4 25 | -0.92× | 0.47× | ||
| Q3 25 | 3.90× | 2.21× | ||
| Q2 25 | 3.29× | 0.77× | ||
| Q1 25 | 4.16× | 0.47× | ||
| Q4 24 | 0.12× | 0.75× | ||
| Q3 24 | 6.22× | 1.19× | ||
| Q2 24 | 33.57× | 1.28× |
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% |
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
