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Side-by-side financial comparison of H2O AMERICA (HTO) 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 $199.4M, roughly 1.5× H2O AMERICA). Strategic Education, Inc. runs the higher net margin — 10.7% vs 8.1%, a 2.6% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs 0.8%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -1.0%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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.
HTO vs STRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $305.9M |
| Net Profit | $16.2M | $32.8M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | 13.4% |
| Net Margin | 8.1% | 10.7% |
| Revenue YoY | 1.5% | 0.8% |
| Net Profit YoY | -29.2% | 10.3% |
| EPS (diluted) | $0.45 | $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 | — | $305.9M | ||
| Q4 25 | $199.4M | $323.2M | ||
| Q3 25 | $243.5M | $319.9M | ||
| Q2 25 | $197.8M | $321.5M | ||
| Q1 25 | $164.9M | $303.6M | ||
| Q4 24 | $196.5M | $311.5M | ||
| Q3 24 | $216.7M | $306.0M | ||
| Q2 24 | $173.1M | $312.3M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $16.2M | $37.9M | ||
| Q3 25 | $45.1M | $26.6M | ||
| Q2 25 | $24.7M | $32.3M | ||
| Q1 25 | $16.6M | $29.7M | ||
| Q4 24 | $22.9M | $25.3M | ||
| Q3 24 | $38.7M | $27.7M | ||
| Q2 24 | $20.7M | $29.9M |
| Q1 26 | — | 13.4% | ||
| Q4 25 | 16.6% | 16.0% | ||
| Q3 25 | 26.5% | 11.6% | ||
| Q2 25 | 22.2% | 14.2% | ||
| Q1 25 | 21.8% | 13.1% | ||
| Q4 24 | 22.2% | 11.6% | ||
| Q3 24 | 26.9% | 11.9% | ||
| Q2 24 | 23.4% | 13.4% |
| Q1 26 | — | 10.7% | ||
| Q4 25 | 8.1% | 11.7% | ||
| Q3 25 | 18.5% | 8.3% | ||
| Q2 25 | 12.5% | 10.1% | ||
| Q1 25 | 10.0% | 9.8% | ||
| Q4 24 | 11.7% | 8.1% | ||
| Q3 24 | 17.8% | 9.1% | ||
| Q2 24 | 12.0% | 9.6% |
| Q1 26 | — | $1.48 | ||
| Q4 25 | $0.45 | $1.65 | ||
| Q3 25 | $1.27 | $1.15 | ||
| Q2 25 | $0.71 | $1.37 | ||
| Q1 25 | $0.49 | $1.24 | ||
| Q4 24 | $0.70 | $1.05 | ||
| Q3 24 | $1.17 | $1.15 | ||
| Q2 24 | $0.64 | $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 | $20.7M | $150.3M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $1.6B |
| Total Assets | $5.1B | $2.1B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $150.3M | ||
| Q4 25 | $20.7M | $148.1M | ||
| Q3 25 | $11.3M | $172.6M | ||
| Q2 25 | $19.8M | $164.9M | ||
| Q1 25 | $23.7M | $182.6M | ||
| Q4 24 | $11.1M | $184.0M | ||
| Q3 24 | $4.0M | $222.1M | ||
| Q2 24 | $22.8M | $256.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.3B | $1.7B |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $5.1B | $2.0B | ||
| Q3 25 | $5.0B | $2.1B | ||
| Q2 25 | $4.8B | $2.1B | ||
| Q1 25 | $4.7B | $2.1B | ||
| Q4 24 | $4.7B | $2.0B | ||
| Q3 24 | $4.6B | $2.2B | ||
| Q2 24 | $4.4B | $2.2B |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $63.5M | $87.4M |
| Free Cash FlowOCF − Capex | — | $77.3M |
| FCF MarginFCF / Revenue | — | 25.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | 2.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $173.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $87.4M | ||
| Q4 25 | $63.5M | $39.2M | ||
| Q3 25 | $77.3M | $60.1M | ||
| Q2 25 | $60.8M | $31.2M | ||
| Q1 25 | $43.2M | $67.7M | ||
| Q4 24 | $41.5M | $15.9M | ||
| Q3 24 | $53.5M | $51.5M | ||
| Q2 24 | $49.3M | $24.3M |
| Q1 26 | — | $77.3M | ||
| Q4 25 | — | $27.0M | ||
| Q3 25 | — | $49.3M | ||
| Q2 25 | — | $20.4M | ||
| Q1 25 | — | $57.3M | ||
| Q4 24 | — | $4.7M | ||
| Q3 24 | — | $42.1M | ||
| Q2 24 | — | $13.6M |
| Q1 26 | — | 25.3% | ||
| Q4 25 | — | 8.3% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 18.9% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | — | 3.4% |
| Q1 26 | — | 2.66× | ||
| Q4 25 | 3.92× | 1.03× | ||
| Q3 25 | 1.71× | 2.26× | ||
| Q2 25 | 2.47× | 0.97× | ||
| Q1 25 | 2.61× | 2.27× | ||
| Q4 24 | 1.81× | 0.63× | ||
| Q3 24 | 1.39× | 1.86× | ||
| Q2 24 | 2.38× | 0.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
