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Side-by-side financial comparison of IHS Holding Ltd (IHS) 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 $254.0M, roughly 1.2× IHS Holding Ltd). On growth, Strategic Education, Inc. posted the faster year-over-year revenue change (0.8% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $77.3M). Over the past eight quarters, Strategic Education, Inc.'s revenue compounded faster (-1.0% CAGR vs -22.0%).
IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world, with operations across Africa and Latin America. It is the fifth-largest independent multinational tower company in the world.
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.
IHS vs STRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $305.9M |
| Net Profit | — | $32.8M |
| Gross Margin | 83.6% | — |
| Operating Margin | — | 13.4% |
| Net Margin | — | 10.7% |
| Revenue YoY | 0.1% | 0.8% |
| Net Profit YoY | — | 10.3% |
| EPS (diluted) | — | $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 | $254.0M | $323.2M | ||
| Q3 25 | $455.1M | $319.9M | ||
| Q2 25 | $433.3M | $321.5M | ||
| Q1 25 | $439.6M | $303.6M | ||
| Q4 24 | $253.8M | $311.5M | ||
| Q3 24 | $420.3M | $306.0M | ||
| Q2 24 | $435.4M | $312.3M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | — | $37.9M | ||
| Q3 25 | $147.4M | $26.6M | ||
| Q2 25 | $32.3M | $32.3M | ||
| Q1 25 | $30.7M | $29.7M | ||
| Q4 24 | — | $25.3M | ||
| Q3 24 | $-205.7M | $27.7M | ||
| Q2 24 | $-124.3M | $29.9M |
| Q1 26 | — | — | ||
| Q4 25 | 83.6% | — | ||
| Q3 25 | 47.5% | — | ||
| Q2 25 | 51.3% | — | ||
| Q1 25 | 51.4% | — | ||
| Q4 24 | 72.1% | — | ||
| Q3 24 | 52.0% | — | ||
| Q2 24 | 52.5% | — |
| Q1 26 | — | 13.4% | ||
| Q4 25 | — | 16.0% | ||
| Q3 25 | 35.1% | 11.6% | ||
| Q2 25 | 33.8% | 14.2% | ||
| Q1 25 | 37.1% | 13.1% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | 29.9% | 11.9% | ||
| Q2 24 | 34.0% | 13.4% |
| Q1 26 | — | 10.7% | ||
| Q4 25 | — | 11.7% | ||
| Q3 25 | 32.4% | 8.3% | ||
| Q2 25 | 7.5% | 10.1% | ||
| Q1 25 | 7.0% | 9.8% | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | -48.9% | 9.1% | ||
| Q2 24 | -28.5% | 9.6% |
| Q1 26 | — | $1.48 | ||
| Q4 25 | — | $1.65 | ||
| Q3 25 | $0.44 | $1.15 | ||
| Q2 25 | $0.10 | $1.37 | ||
| Q1 25 | $0.10 | $1.24 | ||
| Q4 24 | — | $1.05 | ||
| Q3 24 | $-0.61 | $1.15 | ||
| Q2 24 | $-0.36 | $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 | $825.7M | $150.3M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | $1.6B |
| Total Assets | $4.5B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $150.3M | ||
| Q4 25 | $825.7M | $148.1M | ||
| Q3 25 | $647.6M | $172.6M | ||
| Q2 25 | $531.8M | $164.9M | ||
| Q1 25 | $629.0M | $182.6M | ||
| Q4 24 | $578.0M | $184.0M | ||
| Q3 24 | $397.5M | $222.1M | ||
| Q2 24 | $445.7M | $256.2M |
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $-89.8M | $1.6B | ||
| Q3 25 | $38.1M | $1.7B | ||
| Q2 25 | $-98.4M | $1.7B | ||
| Q1 25 | $-184.4M | $1.6B | ||
| Q4 24 | $-314.4M | $1.7B | ||
| Q3 24 | $-284.7M | $1.7B | ||
| Q2 24 | $-308.3M | $1.7B |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $4.5B | $2.0B | ||
| Q3 25 | $4.7B | $2.1B | ||
| Q2 25 | $4.5B | $2.1B | ||
| Q1 25 | $4.4B | $2.1B | ||
| Q4 24 | $4.2B | $2.0B | ||
| Q3 24 | $4.6B | $2.2B | ||
| Q2 24 | $4.5B | $2.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $246.9M | $87.4M |
| Free Cash FlowOCF − Capex | $178.6M | $77.3M |
| FCF MarginFCF / Revenue | 70.3% | 25.3% |
| Capex IntensityCapex / Revenue | 26.9% | — |
| Cash ConversionOCF / Net Profit | — | 2.66× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $173.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $87.4M | ||
| Q4 25 | $246.9M | $39.2M | ||
| Q3 25 | $251.3M | $60.1M | ||
| Q2 25 | $237.7M | $31.2M | ||
| Q1 25 | $200.3M | $67.7M | ||
| Q4 24 | $344.4M | $15.9M | ||
| Q3 24 | $174.5M | $51.5M | ||
| Q2 24 | $134.7M | $24.3M |
| Q1 26 | — | $77.3M | ||
| Q4 25 | $178.6M | $27.0M | ||
| Q3 25 | $189.2M | $49.3M | ||
| Q2 25 | $197.7M | $20.4M | ||
| Q1 25 | $153.2M | $57.3M | ||
| Q4 24 | $282.9M | $4.7M | ||
| Q3 24 | $122.3M | $42.1M | ||
| Q2 24 | $74.2M | $13.6M |
| Q1 26 | — | 25.3% | ||
| Q4 25 | 70.3% | 8.3% | ||
| Q3 25 | 41.6% | 15.4% | ||
| Q2 25 | 45.6% | 6.3% | ||
| Q1 25 | 34.8% | 18.9% | ||
| Q4 24 | 111.5% | 1.5% | ||
| Q3 24 | 29.1% | 13.8% | ||
| Q2 24 | 17.0% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 26.9% | 3.8% | ||
| Q3 25 | 13.6% | 3.4% | ||
| Q2 25 | 9.2% | 3.4% | ||
| Q1 25 | 10.7% | 3.4% | ||
| Q4 24 | 24.2% | 3.6% | ||
| Q3 24 | 12.4% | 3.1% | ||
| Q2 24 | 13.9% | 3.4% |
| Q1 26 | — | 2.66× | ||
| Q4 25 | — | 1.03× | ||
| Q3 25 | 1.70× | 2.26× | ||
| Q2 25 | 7.36× | 0.97× | ||
| Q1 25 | 6.52× | 2.27× | ||
| Q4 24 | — | 0.63× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 0.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
