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Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $158.3M, roughly 1.4× AMERICAN PUBLIC EDUCATION INC). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs 6.3%, a 1.7% gap on every dollar of revenue. On growth, Perella Weinberg Partners posted the faster year-over-year revenue change (-2.9% vs -3.5%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $-15.6M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% 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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
APEI vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $219.2M |
| Net Profit | $12.6M | $13.8M |
| Gross Margin | 56.4% | — |
| Operating Margin | 12.0% | 8.5% |
| Net Margin | 8.0% | 6.3% |
| Revenue YoY | -3.5% | -2.9% |
| Net Profit YoY | -2.7% | — |
| EPS (diluted) | $0.67 | $0.11 |
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 | $219.2M | ||
| Q3 25 | $163.2M | $164.6M | ||
| Q2 25 | $162.8M | $155.3M | ||
| Q1 25 | $164.6M | $211.8M | ||
| Q4 24 | $164.1M | $225.7M | ||
| Q3 24 | $153.1M | $278.2M | ||
| Q2 24 | $152.9M | $272.0M | ||
| Q1 24 | $154.4M | $102.1M |
| Q4 25 | $12.6M | $13.8M | ||
| Q3 25 | $5.6M | $6.0M | ||
| Q2 25 | $4.5M | $2.7M | ||
| Q1 25 | $8.9M | $17.3M | ||
| Q4 24 | $13.0M | — | ||
| Q3 24 | $2.3M | $16.4M | ||
| Q2 24 | $371.0K | $-66.0M | ||
| Q1 24 | $516.0K | $-35.8M |
| Q4 25 | 56.4% | — | ||
| Q3 25 | 54.2% | — | ||
| Q2 25 | 51.8% | — | ||
| Q1 25 | 54.5% | — | ||
| Q4 24 | 56.3% | — | ||
| Q3 24 | 50.8% | — | ||
| Q2 24 | 50.2% | — | ||
| Q1 24 | 53.1% | — |
| Q4 25 | 12.0% | 8.5% | ||
| Q3 25 | 5.9% | 5.4% | ||
| Q2 25 | 4.3% | 5.8% | ||
| Q1 25 | 7.4% | 5.5% | ||
| Q4 24 | 13.1% | — | ||
| Q3 24 | 2.7% | 12.9% | ||
| Q2 24 | 1.5% | -30.2% | ||
| Q1 24 | 3.4% | -52.4% |
| Q4 25 | 8.0% | 6.3% | ||
| Q3 25 | 3.4% | 3.6% | ||
| Q2 25 | 2.8% | 1.8% | ||
| Q1 25 | 5.4% | 8.2% | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 1.5% | 5.9% | ||
| Q2 24 | 0.2% | -24.3% | ||
| Q1 24 | 0.3% | -35.1% |
| Q4 25 | $0.67 | $0.11 | ||
| Q3 25 | $0.30 | $0.08 | ||
| Q2 25 | $-0.02 | $0.04 | ||
| Q1 25 | $0.41 | $0.24 | ||
| Q4 24 | $0.63 | — | ||
| Q3 24 | $0.04 | $0.24 | ||
| Q2 24 | $-0.06 | $-1.21 | ||
| Q1 24 | $-0.06 | $-0.91 |
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 | $255.9M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $-127.4M |
| Total Assets | $521.4M | $797.6M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $255.9M | ||
| Q3 25 | $191.3M | $185.5M | ||
| Q2 25 | $174.9M | $145.0M | ||
| Q1 25 | $161.6M | $111.2M | ||
| Q4 24 | $131.9M | $407.4M | ||
| Q3 24 | $135.4M | $335.1M | ||
| Q2 24 | $129.8M | $185.3M | ||
| Q1 24 | $125.3M | $156.7M |
| 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 | $-127.4M | ||
| Q3 25 | $279.3M | $-302.4M | ||
| Q2 25 | $272.2M | $-318.4M | ||
| Q1 25 | $310.0M | $-323.1M | ||
| Q4 24 | $303.9M | $-421.4M | ||
| Q3 24 | $290.4M | $-360.8M | ||
| Q2 24 | $288.7M | $-283.0M | ||
| Q1 24 | $288.5M | $161.9M |
| Q4 25 | $521.4M | $797.6M | ||
| Q3 25 | $525.3M | $650.2M | ||
| Q2 25 | $537.4M | $606.7M | ||
| Q1 25 | $578.7M | $570.5M | ||
| Q4 24 | $570.1M | $876.8M | ||
| Q3 24 | $569.6M | $810.9M | ||
| Q2 24 | $560.7M | $645.5M | ||
| Q1 24 | $559.0M | $583.6M |
| 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 | $34.8M |
| Free Cash FlowOCF − Capex | $-15.6M | $30.5M |
| FCF MarginFCF / Revenue | -9.9% | 13.9% |
| Capex IntensityCapex / Revenue | 2.6% | 2.0% |
| Cash ConversionOCF / Net Profit | -0.92× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $34.8M | ||
| Q3 25 | $21.7M | $59.2M | ||
| Q2 25 | $14.8M | $56.1M | ||
| Q1 25 | $37.0M | $-176.5M | ||
| Q4 24 | $1.6M | $223.4M | ||
| Q3 24 | $14.1M | $200.3M | ||
| Q2 24 | $12.5M | $90.0M | ||
| Q1 24 | $20.7M | $-206.3M |
| Q4 25 | $-15.6M | $30.5M | ||
| Q3 25 | $17.5M | $57.6M | ||
| Q2 25 | $11.1M | $55.3M | ||
| Q1 25 | $33.1M | $-177.6M | ||
| Q4 24 | $-1.8M | $207.0M | ||
| Q3 24 | $7.8M | $199.3M | ||
| Q2 24 | $7.3M | $83.7M | ||
| Q1 24 | $14.5M | $-214.8M |
| Q4 25 | -9.9% | 13.9% | ||
| Q3 25 | 10.7% | 35.0% | ||
| Q2 25 | 6.8% | 35.6% | ||
| Q1 25 | 20.1% | -83.8% | ||
| Q4 24 | -1.1% | 91.7% | ||
| Q3 24 | 5.1% | 71.6% | ||
| Q2 24 | 4.7% | 30.8% | ||
| Q1 24 | 9.4% | -210.3% |
| Q4 25 | 2.6% | 2.0% | ||
| Q3 25 | 2.6% | 0.9% | ||
| Q2 25 | 2.3% | 0.5% | ||
| Q1 25 | 2.4% | 0.5% | ||
| Q4 24 | 2.0% | 7.3% | ||
| Q3 24 | 4.1% | 0.4% | ||
| Q2 24 | 3.4% | 2.3% | ||
| Q1 24 | 4.0% | 8.3% |
| Q4 25 | -0.92× | 2.52× | ||
| Q3 25 | 3.90× | 9.85× | ||
| Q2 25 | 3.29× | 20.50× | ||
| Q1 25 | 4.16× | -10.18× | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 6.22× | 12.23× | ||
| 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% |
PWP
Segment breakdown not available.
