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Side-by-side financial comparison of Enphase Energy (ENPH) and Strategic Education, Inc. (STRA). Click either name above to swap in a different company.
Strategic Education, Inc. is the larger business by last-quarter revenue ($305.9M vs $282.9M, roughly 1.1× Enphase Energy). Strategic Education, Inc. runs the higher net margin — 10.7% vs -2.6%, a 13.3% gap on every dollar of revenue. On growth, Strategic Education, Inc. posted the faster year-over-year revenue change (0.8% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $77.3M). Over the past eight quarters, Strategic Education, Inc.'s revenue compounded faster (-1.0% CAGR vs -3.4%).
Enphase Energy, Inc. is an American energy technology company headquartered in Fremont, California, that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers. Enphase was established in 2006 and is the first company to successfully commercialize solar micro-inverters, which convert the direct current (DC) power generated by solar panels into grid-compatible alternating current (AC) for use or export.
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.
ENPH vs STRA — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $305.9M |
| Net Profit | $-7.4M | $32.8M |
| Gross Margin | 35.5% | — |
| Operating Margin | 54.0% | 13.4% |
| Net Margin | -2.6% | 10.7% |
| Revenue YoY | -20.6% | 0.8% |
| Net Profit YoY | -124.9% | 10.3% |
| EPS (diluted) | $-0.06 | $1.48 |
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 | $282.9M | $305.9M | ||
| Q4 25 | $343.3M | $323.2M | ||
| Q3 25 | $410.4M | $319.9M | ||
| Q2 25 | $363.2M | $321.5M | ||
| Q1 25 | $356.1M | $303.6M | ||
| Q4 24 | $382.7M | $311.5M | ||
| Q3 24 | $380.9M | $306.0M | ||
| Q2 24 | $303.5M | $312.3M |
| Q1 26 | $-7.4M | $32.8M | ||
| Q4 25 | $38.7M | $37.9M | ||
| Q3 25 | $66.6M | $26.6M | ||
| Q2 25 | $37.1M | $32.3M | ||
| Q1 25 | $29.7M | $29.7M | ||
| Q4 24 | $62.2M | $25.3M | ||
| Q3 24 | $45.8M | $27.7M | ||
| Q2 24 | $10.8M | $29.9M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | — |
| Q1 26 | 54.0% | 13.4% | ||
| Q4 25 | 6.5% | 16.0% | ||
| Q3 25 | 16.1% | 11.6% | ||
| Q2 25 | 10.2% | 14.2% | ||
| Q1 25 | 9.0% | 13.1% | ||
| Q4 24 | 14.3% | 11.6% | ||
| Q3 24 | 13.1% | 11.9% | ||
| Q2 24 | 0.6% | 13.4% |
| Q1 26 | -2.6% | 10.7% | ||
| Q4 25 | 11.3% | 11.7% | ||
| Q3 25 | 16.2% | 8.3% | ||
| Q2 25 | 10.2% | 10.1% | ||
| Q1 25 | 8.3% | 9.8% | ||
| Q4 24 | 16.2% | 8.1% | ||
| Q3 24 | 12.0% | 9.1% | ||
| Q2 24 | 3.6% | 9.6% |
| Q1 26 | $-0.06 | $1.48 | ||
| Q4 25 | $0.29 | $1.65 | ||
| Q3 25 | $0.50 | $1.15 | ||
| Q2 25 | $0.28 | $1.37 | ||
| Q1 25 | $0.22 | $1.24 | ||
| Q4 24 | $0.46 | $1.05 | ||
| Q3 24 | $0.33 | $1.15 | ||
| Q2 24 | $0.08 | $1.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $497.5M | $150.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $1.6B |
| Total Assets | $2.7B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | $150.3M | ||
| Q4 25 | $1.5B | $148.1M | ||
| Q3 25 | $1.5B | $172.6M | ||
| Q2 25 | $1.5B | $164.9M | ||
| Q1 25 | $1.5B | $182.6M | ||
| Q4 24 | $1.6B | $184.0M | ||
| Q3 24 | $1.8B | $222.1M | ||
| Q2 24 | $1.6B | $256.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
| Q1 26 | $1.1B | $1.6B | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $995.0M | $1.7B | ||
| Q2 25 | $880.6M | $1.7B | ||
| Q1 25 | $810.7M | $1.6B | ||
| Q4 24 | $833.0M | $1.7B | ||
| Q3 24 | $931.4M | $1.7B | ||
| Q2 24 | $884.5M | $1.7B |
| Q1 26 | $2.7B | $2.1B | ||
| Q4 25 | $3.5B | $2.0B | ||
| Q3 25 | $3.3B | $2.1B | ||
| Q2 25 | $3.2B | $2.1B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $3.2B | $2.0B | ||
| Q3 24 | $3.3B | $2.2B | ||
| Q2 24 | $3.2B | $2.2B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.47× | — |
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 | $102.9M | $87.4M |
| Free Cash FlowOCF − Capex | $83.0M | $77.3M |
| FCF MarginFCF / Revenue | 29.3% | 25.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.66× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $173.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | $87.4M | ||
| Q4 25 | $47.6M | $39.2M | ||
| Q3 25 | $13.9M | $60.1M | ||
| Q2 25 | $26.6M | $31.2M | ||
| Q1 25 | $48.4M | $67.7M | ||
| Q4 24 | $167.3M | $15.9M | ||
| Q3 24 | $170.1M | $51.5M | ||
| Q2 24 | $127.1M | $24.3M |
| Q1 26 | $83.0M | $77.3M | ||
| Q4 25 | $37.8M | $27.0M | ||
| Q3 25 | $5.9M | $49.3M | ||
| Q2 25 | $18.4M | $20.4M | ||
| Q1 25 | $33.8M | $57.3M | ||
| Q4 24 | $159.2M | $4.7M | ||
| Q3 24 | $161.6M | $42.1M | ||
| Q2 24 | $117.4M | $13.6M |
| Q1 26 | 29.3% | 25.3% | ||
| Q4 25 | 11.0% | 8.3% | ||
| Q3 25 | 1.4% | 15.4% | ||
| Q2 25 | 5.1% | 6.3% | ||
| Q1 25 | 9.5% | 18.9% | ||
| Q4 24 | 41.6% | 1.5% | ||
| Q3 24 | 42.4% | 13.8% | ||
| Q2 24 | 38.7% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 3.8% | ||
| Q3 25 | 2.0% | 3.4% | ||
| Q2 25 | 2.3% | 3.4% | ||
| Q1 25 | 4.1% | 3.4% | ||
| Q4 24 | 2.1% | 3.6% | ||
| Q3 24 | 2.2% | 3.1% | ||
| Q2 24 | 3.2% | 3.4% |
| Q1 26 | — | 2.66× | ||
| Q4 25 | 1.23× | 1.03× | ||
| Q3 25 | 0.21× | 2.26× | ||
| Q2 25 | 0.72× | 0.97× | ||
| Q1 25 | 1.63× | 2.27× | ||
| Q4 24 | 2.69× | 0.63× | ||
| Q3 24 | 3.72× | 1.86× | ||
| Q2 24 | 11.73× | 0.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENPH
Segment breakdown not available.
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
