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Side-by-side financial comparison of Grand Canyon Education, Inc. (LOPE) and Strategic Education, Inc. (STRA). Click either name above to swap in a different company.
Grand Canyon Education, Inc. is the larger business by last-quarter revenue ($308.1M vs $305.9M, roughly 1.0× Strategic Education, Inc.). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs 9.7%, a 18.4% gap on every dollar of revenue. On growth, Grand Canyon Education, Inc. posted the faster year-over-year revenue change (5.3% vs -0.8%). Grand Canyon Education, Inc. produced more free cash flow last quarter ($122.9M vs $57.3M). Over the past eight quarters, Grand Canyon Education, Inc.'s revenue compounded faster (5.9% CAGR vs -1.0%).
Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company in 2008.
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.
LOPE vs STRA — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $308.1M | $305.9M |
| Net Profit | $86.7M | $29.7M |
| Gross Margin | — | — |
| Operating Margin | 35.1% | 13.0% |
| Net Margin | 28.1% | 9.7% |
| Revenue YoY | 5.3% | -0.8% |
| Net Profit YoY | 5.9% | -9.3% |
| EPS (diluted) | $3.13 | $1.24 |
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 | $308.1M | $323.2M | ||
| Q3 25 | $261.1M | $319.9M | ||
| Q2 25 | $247.5M | $321.5M | ||
| Q1 25 | $289.3M | $303.6M | ||
| Q4 24 | $292.6M | $311.5M | ||
| Q3 24 | $238.3M | $306.0M | ||
| Q2 24 | $227.5M | $312.3M |
| Q1 26 | — | $29.7M | ||
| Q4 25 | $86.7M | $37.9M | ||
| Q3 25 | $16.3M | $26.6M | ||
| Q2 25 | $41.5M | $32.3M | ||
| Q1 25 | $71.6M | $29.7M | ||
| Q4 24 | $81.9M | $25.3M | ||
| Q3 24 | $41.5M | $27.7M | ||
| Q2 24 | $34.9M | $29.9M |
| Q1 26 | — | 13.0% | ||
| Q4 25 | 35.1% | 16.0% | ||
| Q3 25 | 6.9% | 11.6% | ||
| Q2 25 | 20.9% | 14.2% | ||
| Q1 25 | 30.4% | 13.1% | ||
| Q4 24 | 34.2% | 11.6% | ||
| Q3 24 | 20.2% | 11.9% | ||
| Q2 24 | 18.8% | 13.4% |
| Q1 26 | — | 9.7% | ||
| Q4 25 | 28.1% | 11.7% | ||
| Q3 25 | 6.2% | 8.3% | ||
| Q2 25 | 16.8% | 10.1% | ||
| Q1 25 | 24.8% | 9.8% | ||
| Q4 24 | 28.0% | 8.1% | ||
| Q3 24 | 17.4% | 9.1% | ||
| Q2 24 | 15.3% | 9.6% |
| Q1 26 | — | $1.24 | ||
| Q4 25 | $3.13 | $1.65 | ||
| Q3 25 | $0.58 | $1.15 | ||
| Q2 25 | $1.48 | $1.37 | ||
| Q1 25 | $2.52 | $1.24 | ||
| Q4 24 | $2.83 | $1.05 | ||
| Q3 24 | $1.42 | $1.15 | ||
| Q2 24 | $1.19 | $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 | $111.8M | $140.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $746.9M | $1.6B |
| Total Assets | $992.3M | $2.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $140.8M | ||
| Q4 25 | $111.8M | $148.1M | ||
| Q3 25 | $97.3M | $172.6M | ||
| Q2 25 | $192.3M | $164.9M | ||
| Q1 25 | $144.5M | $182.6M | ||
| Q4 24 | $324.6M | $184.0M | ||
| Q3 24 | $263.6M | $222.1M | ||
| Q2 24 | $241.3M | $256.2M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $746.9M | $1.6B | ||
| Q3 25 | $758.0M | $1.7B | ||
| Q2 25 | $778.0M | $1.7B | ||
| Q1 25 | $780.7M | $1.6B | ||
| Q4 24 | $783.9M | $1.7B | ||
| Q3 24 | $764.1M | $1.7B | ||
| Q2 24 | $759.2M | $1.7B |
| Q1 26 | — | $2.0B | ||
| Q4 25 | $992.3M | $2.0B | ||
| Q3 25 | $1.0B | $2.1B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $1.0B | $2.1B | ||
| Q4 24 | $1.0B | $2.0B | ||
| Q3 24 | $992.9M | $2.2B | ||
| Q2 24 | $992.7M | $2.2B |
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 | $130.5M | $67.7M |
| Free Cash FlowOCF − Capex | $122.9M | $57.3M |
| FCF MarginFCF / Revenue | 39.9% | 18.7% |
| Capex IntensityCapex / Revenue | 2.5% | — |
| Cash ConversionOCF / Net Profit | 1.50× | 2.27× |
| TTM Free Cash FlowTrailing 4 quarters | $238.6M | $153.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $67.7M | ||
| Q4 25 | $130.5M | $39.2M | ||
| Q3 25 | $-48.6M | $60.1M | ||
| Q2 25 | $124.0M | $31.2M | ||
| Q1 25 | $67.6M | $67.7M | ||
| Q4 24 | $135.8M | $15.9M | ||
| Q3 24 | $-29.4M | $51.5M | ||
| Q2 24 | $98.6M | $24.3M |
| Q1 26 | — | $57.3M | ||
| Q4 25 | $122.9M | $27.0M | ||
| Q3 25 | $-58.3M | $49.3M | ||
| Q2 25 | $115.4M | $20.4M | ||
| Q1 25 | $58.7M | $57.3M | ||
| Q4 24 | $126.1M | $4.7M | ||
| Q3 24 | $-39.0M | $42.1M | ||
| Q2 24 | $89.6M | $13.6M |
| Q1 26 | — | 18.7% | ||
| Q4 25 | 39.9% | 8.3% | ||
| Q3 25 | -22.3% | 15.4% | ||
| Q2 25 | 46.6% | 6.3% | ||
| Q1 25 | 20.3% | 18.9% | ||
| Q4 24 | 43.1% | 1.5% | ||
| Q3 24 | -16.3% | 13.8% | ||
| Q2 24 | 39.4% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | 3.8% | ||
| Q3 25 | 3.7% | 3.4% | ||
| Q2 25 | 3.5% | 3.4% | ||
| Q1 25 | 3.1% | 3.4% | ||
| Q4 24 | 3.3% | 3.6% | ||
| Q3 24 | 4.0% | 3.1% | ||
| Q2 24 | 3.9% | 3.4% |
| Q1 26 | — | 2.27× | ||
| Q4 25 | 1.50× | 1.03× | ||
| Q3 25 | -2.99× | 2.26× | ||
| Q2 25 | 2.98× | 0.97× | ||
| Q1 25 | 0.94× | 2.27× | ||
| Q4 24 | 1.66× | 0.63× | ||
| Q3 24 | -0.71× | 1.86× | ||
| Q2 24 | 2.83× | 0.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOPE
Segment breakdown not available.
STRA
| U.S. Higher Education | $221.0M | 72% |
| Australia/New Zealand | $48.3M | 16% |
| Education Technology Services | $34.3M | 11% |
