vs
Side-by-side financial comparison of AMERICAN PUBLIC EDUCATION INC (APEI) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $158.3M, roughly 1.6× AMERICAN PUBLIC EDUCATION INC). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs 1.4%, a 6.6% gap on every dollar of revenue. On growth, AMERICAN PUBLIC EDUCATION INC posted the faster year-over-year revenue change (-3.5% vs -9.4%). Smith Douglas Homes Corp. produced more free cash flow last quarter ($8.7M vs $-15.6M). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% 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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
APEI vs SDHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.3M | $260.4M |
| Net Profit | $12.6M | $3.5M |
| Gross Margin | 56.4% | 19.9% |
| Operating Margin | 12.0% | 6.5% |
| Net Margin | 8.0% | 1.4% |
| Revenue YoY | -3.5% | -9.4% |
| Net Profit YoY | -2.7% | -14.3% |
| EPS (diluted) | $0.67 | $0.39 |
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 | $260.4M | ||
| Q3 25 | $163.2M | $262.0M | ||
| Q2 25 | $162.8M | $223.9M | ||
| Q1 25 | $164.6M | $224.7M | ||
| Q4 24 | $164.1M | $287.5M | ||
| Q3 24 | $153.1M | $277.8M | ||
| Q2 24 | $152.9M | $220.9M | ||
| Q1 24 | $154.4M | $189.2M |
| Q4 25 | $12.6M | $3.5M | ||
| Q3 25 | $5.6M | $2.1M | ||
| Q2 25 | $4.5M | $2.4M | ||
| Q1 25 | $8.9M | $2.7M | ||
| Q4 24 | $13.0M | $4.1M | ||
| Q3 24 | $2.3M | $5.3M | ||
| Q2 24 | $371.0K | $3.6M | ||
| Q1 24 | $516.0K | $3.0M |
| Q4 25 | 56.4% | 19.9% | ||
| Q3 25 | 54.2% | 21.0% | ||
| Q2 25 | 51.8% | 23.2% | ||
| Q1 25 | 54.5% | 23.8% | ||
| Q4 24 | 56.3% | 25.5% | ||
| Q3 24 | 50.8% | 26.5% | ||
| Q2 24 | 50.2% | 26.7% | ||
| Q1 24 | 53.1% | 26.1% |
| Q4 25 | 12.0% | 6.5% | ||
| Q3 25 | 5.9% | 6.6% | ||
| Q2 25 | 4.3% | 7.7% | ||
| Q1 25 | 7.4% | 8.7% | ||
| Q4 24 | 13.1% | 10.4% | ||
| Q3 24 | 2.7% | 14.2% | ||
| Q2 24 | 1.5% | 11.7% | ||
| Q1 24 | 3.4% | 11.3% |
| Q4 25 | 8.0% | 1.4% | ||
| Q3 25 | 3.4% | 0.8% | ||
| Q2 25 | 2.8% | 1.1% | ||
| Q1 25 | 5.4% | 1.2% | ||
| Q4 24 | 7.9% | 1.4% | ||
| Q3 24 | 1.5% | 1.9% | ||
| Q2 24 | 0.2% | 1.7% | ||
| Q1 24 | 0.3% | 1.6% |
| Q4 25 | $0.67 | $0.39 | ||
| Q3 25 | $0.30 | $0.24 | ||
| Q2 25 | $-0.02 | $0.26 | ||
| Q1 25 | $0.41 | $0.30 | ||
| Q4 24 | $0.63 | $0.50 | ||
| Q3 24 | $0.04 | $0.58 | ||
| Q2 24 | $-0.06 | $0.40 | ||
| Q1 24 | $-0.06 | $0.33 |
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 | $12.7M |
| Total DebtLower is stronger | $94.7M | — |
| Stockholders' EquityBook value | $294.8M | $86.7M |
| Total Assets | $521.4M | $557.6M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $174.1M | $12.7M | ||
| Q3 25 | $191.3M | $14.8M | ||
| Q2 25 | $174.9M | $16.8M | ||
| Q1 25 | $161.6M | $12.7M | ||
| Q4 24 | $131.9M | $22.4M | ||
| Q3 24 | $135.4M | $23.7M | ||
| Q2 24 | $129.8M | $17.3M | ||
| Q1 24 | $125.3M | $32.8M |
| 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 | $86.7M | ||
| Q3 25 | $279.3M | $82.2M | ||
| Q2 25 | $272.2M | $80.0M | ||
| Q1 25 | $310.0M | $76.9M | ||
| Q4 24 | $303.9M | $73.6M | ||
| Q3 24 | $290.4M | $68.4M | ||
| Q2 24 | $288.7M | $62.1M | ||
| Q1 24 | $288.5M | $59.7M |
| Q4 25 | $521.4M | $557.6M | ||
| Q3 25 | $525.3M | $571.6M | ||
| Q2 25 | $537.4M | $570.2M | ||
| Q1 25 | $578.7M | $513.9M | ||
| Q4 24 | $570.1M | $475.9M | ||
| Q3 24 | $569.6M | $460.1M | ||
| Q2 24 | $560.7M | $429.3M | ||
| Q1 24 | $559.0M | $401.3M |
| 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 | $9.8M |
| Free Cash FlowOCF − Capex | $-15.6M | $8.7M |
| FCF MarginFCF / Revenue | -9.9% | 3.4% |
| Capex IntensityCapex / Revenue | 2.6% | 0.4% |
| Cash ConversionOCF / Net Profit | -0.92× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $46.1M | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.6M | $9.8M | ||
| Q3 25 | $21.7M | $22.8M | ||
| Q2 25 | $14.8M | $-28.9M | ||
| Q1 25 | $37.0M | $-34.9M | ||
| Q4 24 | $1.6M | $5.5M | ||
| Q3 24 | $14.1M | $22.9M | ||
| Q2 24 | $12.5M | $39.0K | ||
| Q1 24 | $20.7M | $-9.3M |
| Q4 25 | $-15.6M | $8.7M | ||
| Q3 25 | $17.5M | $21.4M | ||
| Q2 25 | $11.1M | $-31.1M | ||
| Q1 25 | $33.1M | $-35.9M | ||
| Q4 24 | $-1.8M | $4.8M | ||
| Q3 24 | $7.8M | $22.3M | ||
| Q2 24 | $7.3M | $-2.1M | ||
| Q1 24 | $14.5M | $-9.7M |
| Q4 25 | -9.9% | 3.4% | ||
| Q3 25 | 10.7% | 8.2% | ||
| Q2 25 | 6.8% | -13.9% | ||
| Q1 25 | 20.1% | -16.0% | ||
| Q4 24 | -1.1% | 1.7% | ||
| Q3 24 | 5.1% | 8.0% | ||
| Q2 24 | 4.7% | -1.0% | ||
| Q1 24 | 9.4% | -5.1% |
| Q4 25 | 2.6% | 0.4% | ||
| Q3 25 | 2.6% | 0.5% | ||
| Q2 25 | 2.3% | 0.9% | ||
| Q1 25 | 2.4% | 0.5% | ||
| Q4 24 | 2.0% | 0.2% | ||
| Q3 24 | 4.1% | 0.2% | ||
| Q2 24 | 3.4% | 1.0% | ||
| Q1 24 | 4.0% | 0.2% |
| Q4 25 | -0.92× | 2.77× | ||
| Q3 25 | 3.90× | 10.70× | ||
| Q2 25 | 3.29× | -12.24× | ||
| Q1 25 | 4.16× | -13.01× | ||
| Q4 24 | 0.12× | 1.33× | ||
| Q3 24 | 6.22× | 4.28× | ||
| Q2 24 | 33.57× | 0.01× | ||
| Q1 24 | 40.20× | -3.12× |
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% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
