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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Porch Group, Inc. (PRCH). 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 $121.1M, roughly 1.3× Porch Group, Inc.). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs -3.9%, a 11.8% gap on every dollar of revenue. On growth, Porch Group, Inc. posted the faster year-over-year revenue change (100.0% vs -3.5%). Over the past eight quarters, Porch Group, Inc.'s revenue compounded faster (26.4% 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.
Porch is a website that tries to connect homeowners with local home improvement contractors. The site features advice articles, cost guide, and online booking for over 160 home projects.
APEI vs PRCH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $121.1M |
| Net Profit | $12.6M | $-4.7M |
| Gross Margin | 56.4% | 52.7% |
| Operating Margin | 12.0% | 34.7% |
| Net Margin | 8.0% | -3.9% |
| Revenue YoY | -3.5% | 100.0% |
| Net Profit YoY | -2.7% | 2.0% |
| EPS (diluted) | $0.67 | $-0.04 |
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 | — | $121.1M | ||
| Q4 25 | $158.3M | $112.3M | ||
| Q3 25 | $163.2M | $115.1M | ||
| Q2 25 | $162.8M | $107.0M | ||
| Q1 25 | $164.6M | $84.5M | ||
| Q4 24 | $164.1M | $75.3M | ||
| Q3 24 | $153.1M | $77.7M | ||
| Q2 24 | $152.9M | $75.9M |
| Q1 26 | — | $-4.7M | ||
| Q4 25 | $12.6M | $-3.5M | ||
| Q3 25 | $5.6M | $-10.9M | ||
| Q2 25 | $4.5M | $2.6M | ||
| Q1 25 | $8.9M | $8.4M | ||
| Q4 24 | $13.0M | $30.5M | ||
| Q3 24 | $2.3M | $14.4M | ||
| Q2 24 | $371.0K | $-64.3M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 56.4% | 99.5% | ||
| Q3 25 | 54.2% | 75.6% | ||
| Q2 25 | 51.8% | 70.9% | ||
| Q1 25 | 54.5% | 77.4% | ||
| Q4 24 | 56.3% | — | ||
| Q3 24 | 50.8% | 79.4% | ||
| Q2 24 | 50.2% | 22.1% |
| Q1 26 | — | 34.7% | ||
| Q4 25 | 12.0% | 14.7% | ||
| Q3 25 | 5.9% | 14.2% | ||
| Q2 25 | 4.3% | 4.7% | ||
| Q1 25 | 7.4% | -1.5% | ||
| Q4 24 | 13.1% | 33.3% | ||
| Q3 24 | 2.7% | -3.2% | ||
| Q2 24 | 1.5% | -69.2% |
| Q1 26 | — | -3.9% | ||
| Q4 25 | 8.0% | -3.1% | ||
| Q3 25 | 3.4% | -9.4% | ||
| Q2 25 | 2.8% | 2.4% | ||
| Q1 25 | 5.4% | 9.9% | ||
| Q4 24 | 7.9% | 40.5% | ||
| Q3 24 | 1.5% | 18.5% | ||
| Q2 24 | 0.2% | -84.8% |
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $0.67 | $0.00 | ||
| Q3 25 | $0.30 | $-0.10 | ||
| Q2 25 | $-0.02 | $0.00 | ||
| Q1 25 | $0.41 | $0.07 | ||
| Q4 24 | $0.63 | $0.34 | ||
| Q3 24 | $0.04 | $0.12 | ||
| Q2 24 | $-0.06 | $-0.65 |
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 | $68.4M |
| Total DebtLower is stronger | $94.7M | $391.3M |
| Stockholders' EquityBook value | $294.8M | $26.3M |
| Total Assets | $521.4M | $806.6M |
| Debt / EquityLower = less leverage | 0.32× | 14.87× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $68.4M | ||
| Q4 25 | $174.1M | $57.3M | ||
| Q3 25 | $191.3M | $85.0M | ||
| Q2 25 | $174.9M | $79.8M | ||
| Q1 25 | $161.6M | $70.4M | ||
| Q4 24 | $131.9M | $191.7M | ||
| Q3 24 | $135.4M | $238.6M | ||
| Q2 24 | $129.8M | $308.4M |
| Q1 26 | — | $391.3M | ||
| Q4 25 | $94.7M | $392.8M | ||
| Q3 25 | $94.4M | $387.1M | ||
| Q2 25 | $94.1M | $394.1M | ||
| Q1 25 | $93.7M | $409.2M | ||
| Q4 24 | $93.4M | $403.9M | ||
| Q3 24 | $93.1M | $399.0M | ||
| Q2 24 | $92.8M | $436.8M |
| Q1 26 | — | $26.3M | ||
| Q4 25 | $294.8M | $-24.6M | ||
| Q3 25 | $279.3M | $-27.9M | ||
| Q2 25 | $272.2M | $-29.3M | ||
| Q1 25 | $310.0M | $-52.4M | ||
| Q4 24 | $303.9M | $-43.2M | ||
| Q3 24 | $290.4M | $-77.0M | ||
| Q2 24 | $288.7M | $-101.9M |
| Q1 26 | — | $806.6M | ||
| Q4 25 | $521.4M | $797.4M | ||
| Q3 25 | $525.3M | $787.7M | ||
| Q2 25 | $537.4M | $770.7M | ||
| Q1 25 | $578.7M | $802.3M | ||
| Q4 24 | $570.1M | $814.0M | ||
| Q3 24 | $569.6M | $867.3M | ||
| Q2 24 | $560.7M | $876.1M |
| Q1 26 | — | 14.87× | ||
| 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 | — |
| Free Cash FlowOCF − Capex | $-15.6M | — |
| FCF MarginFCF / Revenue | -9.9% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | -0.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-11.6M | $1.2M | ||
| Q3 25 | $21.7M | $40.8M | ||
| Q2 25 | $14.8M | $35.6M | ||
| Q1 25 | $37.0M | $-11.2M | ||
| Q4 24 | $1.6M | $-26.6M | ||
| Q3 24 | $14.1M | $12.4M | ||
| Q2 24 | $12.5M | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-15.6M | $1.1M | ||
| Q3 25 | $17.5M | $40.7M | ||
| Q2 25 | $11.1M | $35.4M | ||
| Q1 25 | $33.1M | $-11.2M | ||
| Q4 24 | $-1.8M | $-26.8M | ||
| Q3 24 | $7.8M | $12.2M | ||
| Q2 24 | $7.3M | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | -9.9% | 1.0% | ||
| Q3 25 | 10.7% | 35.4% | ||
| Q2 25 | 6.8% | 33.0% | ||
| Q1 25 | 20.1% | -13.3% | ||
| Q4 24 | -1.1% | -35.6% | ||
| Q3 24 | 5.1% | 15.7% | ||
| Q2 24 | 4.7% | -34.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 0.1% | ||
| Q3 25 | 2.6% | 0.1% | ||
| Q2 25 | 2.3% | 0.2% | ||
| Q1 25 | 2.4% | 0.1% | ||
| Q4 24 | 2.0% | 0.3% | ||
| Q3 24 | 4.1% | 0.3% | ||
| Q2 24 | 3.4% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | -0.92× | — | ||
| Q3 25 | 3.90× | — | ||
| Q2 25 | 3.29× | 13.79× | ||
| Q1 25 | 4.16× | -1.33× | ||
| Q4 24 | 0.12× | -0.87× | ||
| Q3 24 | 6.22× | 0.86× | ||
| Q2 24 | 33.57× | — |
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% |
PRCH
Segment breakdown not available.
