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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and CPI Card Group Inc. (PMTS). 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 $153.1M, roughly 1.0× CPI Card Group Inc.). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs 4.8%, a 3.2% gap on every dollar of revenue. On growth, CPI Card Group Inc. posted the faster year-over-year revenue change (22.3% vs -3.5%). CPI Card Group Inc. produced more free cash flow last quarter ($35.2M vs $-15.6M). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% 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.
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
APEI vs PMTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $153.1M |
| Net Profit | $12.6M | $7.3M |
| Gross Margin | 56.4% | 31.5% |
| Operating Margin | 12.0% | 12.0% |
| Net Margin | 8.0% | 4.8% |
| Revenue YoY | -3.5% | 22.3% |
| Net Profit YoY | -2.7% | 8.5% |
| EPS (diluted) | $0.67 | $0.62 |
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 | $153.1M | ||
| Q3 25 | $163.2M | $138.0M | ||
| Q2 25 | $162.8M | $129.8M | ||
| Q1 25 | $164.6M | $122.8M | ||
| Q4 24 | $164.1M | $125.1M | ||
| Q3 24 | $153.1M | $124.8M | ||
| Q2 24 | $152.9M | $118.8M | ||
| Q1 24 | $154.4M | $111.9M |
| Q4 25 | $12.6M | $7.3M | ||
| Q3 25 | $5.6M | $2.3M | ||
| Q2 25 | $4.5M | $518.0K | ||
| Q1 25 | $8.9M | $4.8M | ||
| Q4 24 | $13.0M | $6.8M | ||
| Q3 24 | $2.3M | $1.3M | ||
| Q2 24 | $371.0K | $6.0M | ||
| Q1 24 | $516.0K | $5.5M |
| Q4 25 | 56.4% | 31.5% | ||
| Q3 25 | 54.2% | 29.7% | ||
| Q2 25 | 51.8% | 30.9% | ||
| Q1 25 | 54.5% | 33.2% | ||
| Q4 24 | 56.3% | 34.1% | ||
| Q3 24 | 50.8% | 35.8% | ||
| Q2 24 | 50.2% | 35.7% | ||
| Q1 24 | 53.1% | 37.1% |
| Q4 25 | 12.0% | 12.0% | ||
| Q3 25 | 5.9% | 9.4% | ||
| Q2 25 | 4.3% | 7.3% | ||
| Q1 25 | 7.4% | 11.5% | ||
| Q4 24 | 13.1% | 12.7% | ||
| Q3 24 | 2.7% | 14.3% | ||
| Q2 24 | 1.5% | 12.5% | ||
| Q1 24 | 3.4% | 12.6% |
| Q4 25 | 8.0% | 4.8% | ||
| Q3 25 | 3.4% | 1.7% | ||
| Q2 25 | 2.8% | 0.4% | ||
| Q1 25 | 5.4% | 3.9% | ||
| Q4 24 | 7.9% | 5.4% | ||
| Q3 24 | 1.5% | 1.0% | ||
| Q2 24 | 0.2% | 5.1% | ||
| Q1 24 | 0.3% | 4.9% |
| Q4 25 | $0.67 | $0.62 | ||
| Q3 25 | $0.30 | $0.19 | ||
| Q2 25 | $-0.02 | $0.04 | ||
| Q1 25 | $0.41 | $0.40 | ||
| Q4 24 | $0.63 | $0.56 | ||
| Q3 24 | $0.04 | $0.11 | ||
| Q2 24 | $-0.06 | $0.51 | ||
| Q1 24 | $-0.06 | $0.46 |
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 | $21.7M |
| Total DebtLower is stronger | $94.7M | $286.7M |
| Stockholders' EquityBook value | $294.8M | $-17.3M |
| Total Assets | $521.4M | $403.2M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $21.7M | ||
| Q3 25 | $191.3M | $16.0M | ||
| Q2 25 | $174.9M | $17.1M | ||
| Q1 25 | $161.6M | $31.5M | ||
| Q4 24 | $131.9M | $33.5M | ||
| Q3 24 | $135.4M | $14.7M | ||
| Q2 24 | $129.8M | $7.5M | ||
| Q1 24 | $125.3M | $17.1M |
| Q4 25 | $94.7M | $286.7M | ||
| Q3 25 | $94.4M | $308.4M | ||
| Q2 25 | $94.1M | $310.9M | ||
| Q1 25 | $93.7M | $280.7M | ||
| Q4 24 | $93.4M | $280.4M | ||
| Q3 24 | $93.1M | $280.2M | ||
| Q2 24 | $92.8M | $269.7M | ||
| Q1 24 | $95.0M | $265.3M |
| Q4 25 | $294.8M | $-17.3M | ||
| Q3 25 | $279.3M | $-25.7M | ||
| Q2 25 | $272.2M | $-29.0M | ||
| Q1 25 | $310.0M | $-29.7M | ||
| Q4 24 | $303.9M | $-35.6M | ||
| Q3 24 | $290.4M | $-42.8M | ||
| Q2 24 | $288.7M | $-44.6M | ||
| Q1 24 | $288.5M | $-48.5M |
| Q4 25 | $521.4M | $403.2M | ||
| Q3 25 | $525.3M | $407.1M | ||
| Q2 25 | $537.4M | $399.8M | ||
| Q1 25 | $578.7M | $351.9M | ||
| Q4 24 | $570.1M | $349.7M | ||
| Q3 24 | $569.6M | $342.3M | ||
| Q2 24 | $560.7M | $321.4M | ||
| Q1 24 | $559.0M | $319.8M |
| 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 | $39.6M |
| Free Cash FlowOCF − Capex | $-15.6M | $35.2M |
| FCF MarginFCF / Revenue | -9.9% | 23.0% |
| Capex IntensityCapex / Revenue | 2.6% | 2.9% |
| Cash ConversionOCF / Net Profit | -0.92× | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $39.6M | ||
| Q3 25 | $21.7M | $10.0M | ||
| Q2 25 | $14.8M | $4.3M | ||
| Q1 25 | $37.0M | $5.6M | ||
| Q4 24 | $1.6M | $26.7M | ||
| Q3 24 | $14.1M | $12.5M | ||
| Q2 24 | $12.5M | $-4.8M | ||
| Q1 24 | $20.7M | $8.9M |
| Q4 25 | $-15.6M | $35.2M | ||
| Q3 25 | $17.5M | $5.3M | ||
| Q2 25 | $11.1M | $533.0K | ||
| Q1 25 | $33.1M | $292.0K | ||
| Q4 24 | $-1.8M | $21.6M | ||
| Q3 24 | $7.8M | $11.1M | ||
| Q2 24 | $7.3M | $-6.0M | ||
| Q1 24 | $14.5M | $7.4M |
| Q4 25 | -9.9% | 23.0% | ||
| Q3 25 | 10.7% | 3.8% | ||
| Q2 25 | 6.8% | 0.4% | ||
| Q1 25 | 20.1% | 0.2% | ||
| Q4 24 | -1.1% | 17.3% | ||
| Q3 24 | 5.1% | 8.9% | ||
| Q2 24 | 4.7% | -5.0% | ||
| Q1 24 | 9.4% | 6.6% |
| Q4 25 | 2.6% | 2.9% | ||
| Q3 25 | 2.6% | 3.4% | ||
| Q2 25 | 2.3% | 2.9% | ||
| Q1 25 | 2.4% | 4.3% | ||
| Q4 24 | 2.0% | 4.0% | ||
| Q3 24 | 4.1% | 1.2% | ||
| Q2 24 | 3.4% | 1.0% | ||
| Q1 24 | 4.0% | 1.3% |
| Q4 25 | -0.92× | 5.39× | ||
| Q3 25 | 3.90× | 4.32× | ||
| Q2 25 | 3.29× | 8.39× | ||
| Q1 25 | 4.16× | 1.17× | ||
| Q4 24 | 0.12× | 3.94× | ||
| Q3 24 | 6.22× | 9.70× | ||
| Q2 24 | 33.57× | -0.79× | ||
| Q1 24 | 40.20× | 1.63× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
