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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and OLAPLEX HOLDINGS, INC. (OLPX). 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 $105.1M, roughly 1.5× OLAPLEX HOLDINGS, INC.). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs -12.5%, a 20.4% gap on every dollar of revenue. On growth, OLAPLEX HOLDINGS, INC. posted the faster year-over-year revenue change (4.3% vs -3.5%). OLAPLEX HOLDINGS, INC. produced more free cash flow last quarter ($32.6M vs $-15.6M). Over the past eight quarters, OLAPLEX HOLDINGS, INC.'s revenue compounded faster (3.1% 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.
Olaplex Holdings, Inc. is a specialty beauty company developing and selling patented bond-repair hair care products. It runs three core segments: professional salon distribution, direct-to-consumer sales, and third-party retail, serving customers across North America, Europe, and Asia-Pacific with products that repair and protect damaged hair.
APEI vs OLPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $105.1M |
| Net Profit | $12.6M | $-13.1M |
| Gross Margin | 56.4% | 68.0% |
| Operating Margin | 12.0% | -4.3% |
| Net Margin | 8.0% | -12.5% |
| Revenue YoY | -3.5% | 4.3% |
| Net Profit YoY | -2.7% | -48.9% |
| EPS (diluted) | $0.67 | $-0.02 |
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 | $105.1M | ||
| Q3 25 | $163.2M | $114.6M | ||
| Q2 25 | $162.8M | $106.3M | ||
| Q1 25 | $164.6M | $97.0M | ||
| Q4 24 | $164.1M | $100.7M | ||
| Q3 24 | $153.1M | $119.1M | ||
| Q2 24 | $152.9M | $103.9M | ||
| Q1 24 | $154.4M | $98.9M |
| Q4 25 | $12.6M | $-13.1M | ||
| Q3 25 | $5.6M | $11.1M | ||
| Q2 25 | $4.5M | $-7.7M | ||
| Q1 25 | $8.9M | $465.0K | ||
| Q4 24 | $13.0M | $-8.8M | ||
| Q3 24 | $2.3M | $14.8M | ||
| Q2 24 | $371.0K | $5.8M | ||
| Q1 24 | $516.0K | $7.7M |
| Q4 25 | 56.4% | 68.0% | ||
| Q3 25 | 54.2% | 69.1% | ||
| Q2 25 | 51.8% | 71.2% | ||
| Q1 25 | 54.5% | 69.5% | ||
| Q4 24 | 56.3% | 66.3% | ||
| Q3 24 | 50.8% | 68.6% | ||
| Q2 24 | 50.2% | 69.7% | ||
| Q1 24 | 53.1% | 72.1% |
| Q4 25 | 12.0% | -4.3% | ||
| Q3 25 | 5.9% | 3.7% | ||
| Q2 25 | 4.3% | -1.1% | ||
| Q1 25 | 7.4% | 8.7% | ||
| Q4 24 | 13.1% | 3.0% | ||
| Q3 24 | 2.7% | 23.5% | ||
| Q2 24 | 1.5% | 15.7% | ||
| Q1 24 | 3.4% | 19.8% |
| Q4 25 | 8.0% | -12.5% | ||
| Q3 25 | 3.4% | 9.7% | ||
| Q2 25 | 2.8% | -7.3% | ||
| Q1 25 | 5.4% | 0.5% | ||
| Q4 24 | 7.9% | -8.7% | ||
| Q3 24 | 1.5% | 12.4% | ||
| Q2 24 | 0.2% | 5.6% | ||
| Q1 24 | 0.3% | 7.8% |
| Q4 25 | $0.67 | $-0.02 | ||
| Q3 25 | $0.30 | $0.02 | ||
| Q2 25 | $-0.02 | $-0.01 | ||
| Q1 25 | $0.41 | $0.00 | ||
| Q4 24 | $0.63 | $-0.01 | ||
| Q3 24 | $0.04 | $0.02 | ||
| Q2 24 | $-0.06 | $0.01 | ||
| Q1 24 | $-0.06 | $0.01 |
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 | $318.7M |
| Total DebtLower is stronger | $94.7M | $352.3M |
| Stockholders' EquityBook value | $294.8M | $879.4M |
| Total Assets | $521.4M | $1.5B |
| Debt / EquityLower = less leverage | 0.32× | 0.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $318.7M | ||
| Q3 25 | $191.3M | $286.4M | ||
| Q2 25 | $174.9M | $289.3M | ||
| Q1 25 | $161.6M | $580.9M | ||
| Q4 24 | $131.9M | $586.0M | ||
| Q3 24 | $135.4M | $538.8M | ||
| Q2 24 | $129.8M | $507.9M | ||
| Q1 24 | $125.3M | $507.5M |
| Q4 25 | $94.7M | $352.3M | ||
| Q3 25 | $94.4M | $352.1M | ||
| Q2 25 | $94.1M | $351.9M | ||
| Q1 25 | $93.7M | $649.1M | ||
| Q4 24 | $93.4M | $650.5M | ||
| Q3 24 | $93.1M | $651.8M | ||
| Q2 24 | $92.8M | $653.1M | ||
| Q1 24 | $95.0M | $654.4M |
| Q4 25 | $294.8M | $879.4M | ||
| Q3 25 | $279.3M | $888.7M | ||
| Q2 25 | $272.2M | $874.2M | ||
| Q1 25 | $310.0M | $878.3M | ||
| Q4 24 | $303.9M | $874.4M | ||
| Q3 24 | $290.4M | $879.7M | ||
| Q2 24 | $288.7M | $863.3M | ||
| Q1 24 | $288.5M | $855.7M |
| Q4 25 | $521.4M | $1.5B | ||
| Q3 25 | $525.3M | $1.5B | ||
| Q2 25 | $537.4M | $1.5B | ||
| Q1 25 | $578.7M | $1.8B | ||
| Q4 24 | $570.1M | $1.8B | ||
| Q3 24 | $569.6M | $1.8B | ||
| Q2 24 | $560.7M | $1.8B | ||
| Q1 24 | $559.0M | $1.8B |
| Q4 25 | 0.32× | 0.40× | ||
| Q3 25 | 0.34× | 0.40× | ||
| Q2 25 | 0.35× | 0.40× | ||
| Q1 25 | 0.30× | 0.74× | ||
| Q4 24 | 0.31× | 0.74× | ||
| Q3 24 | 0.32× | 0.74× | ||
| Q2 24 | 0.32× | 0.76× | ||
| Q1 24 | 0.33× | 0.76× |
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 | $32.7M |
| Free Cash FlowOCF − Capex | $-15.6M | $32.6M |
| FCF MarginFCF / Revenue | -9.9% | 31.0% |
| Capex IntensityCapex / Revenue | 2.6% | 0.1% |
| Cash ConversionOCF / Net Profit | -0.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $58.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $32.7M | ||
| Q3 25 | $21.7M | $8.0M | ||
| Q2 25 | $14.8M | $20.9M | ||
| Q1 25 | $37.0M | $-2.9M | ||
| Q4 24 | $1.6M | $49.7M | ||
| Q3 24 | $14.1M | $33.5M | ||
| Q2 24 | $12.5M | $16.2M | ||
| Q1 24 | $20.7M | $43.7M |
| Q4 25 | $-15.6M | $32.6M | ||
| Q3 25 | $17.5M | $7.9M | ||
| Q2 25 | $11.1M | $20.8M | ||
| Q1 25 | $33.1M | $-3.0M | ||
| Q4 24 | $-1.8M | $49.2M | ||
| Q3 24 | $7.8M | $33.3M | ||
| Q2 24 | $7.3M | $16.1M | ||
| Q1 24 | $14.5M | $43.3M |
| Q4 25 | -9.9% | 31.0% | ||
| Q3 25 | 10.7% | 6.9% | ||
| Q2 25 | 6.8% | 19.6% | ||
| Q1 25 | 20.1% | -3.1% | ||
| Q4 24 | -1.1% | 48.9% | ||
| Q3 24 | 5.1% | 28.0% | ||
| Q2 24 | 4.7% | 15.5% | ||
| Q1 24 | 9.4% | 43.7% |
| Q4 25 | 2.6% | 0.1% | ||
| Q3 25 | 2.6% | 0.1% | ||
| Q2 25 | 2.3% | 0.1% | ||
| Q1 25 | 2.4% | 0.0% | ||
| Q4 24 | 2.0% | 0.4% | ||
| Q3 24 | 4.1% | 0.1% | ||
| Q2 24 | 3.4% | 0.1% | ||
| Q1 24 | 4.0% | 0.5% |
| Q4 25 | -0.92× | — | ||
| Q3 25 | 3.90× | 0.72× | ||
| Q2 25 | 3.29× | — | ||
| Q1 25 | 4.16× | -6.27× | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 6.22× | 2.26× | ||
| Q2 24 | 33.57× | 2.81× | ||
| Q1 24 | 40.20× | 5.64× |
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% |
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
