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AMERICAN PUBLIC EDUCATION INC（APEI）与Stride, Inc.（LRN）财务数据对比。点击上方公司名可切换其他公司
Stride, Inc.的季度营收约是AMERICAN PUBLIC EDUCATION INC的4.0倍（$631.3M vs $158.3M）。Stride, Inc.净利率更高（15.8% vs 8.0%，领先7.8%）。Stride, Inc.同比增速更快（7.5% vs -3.5%）。Stride, Inc.自由现金流更多（$91.6M vs $-15.6M）。过去两年Stride, Inc.的营收复合增速更高（10.1% vs 1.3%）
美国公共教育公司（股票代码APEI）旗下控股教育服务企业Strategic Education Inc，运营着卡佩拉大学、斯特雷耶大学两所营利性在线大学，还拥有DevMountain、Hackbright Academy、Sophia Learning等非学历教育项目，主营面向在职人群的成人教育服务。
Stride, Inc.是一家营利性教育机构，主营在线及混合式教育项目。作为教育管理机构，其为K12阶段公立学校学生提供替代传统线下教学的在线教育方案，同时也开设职业学习课程。截至2012年，这家上市企业是全球招生规模最大的教育管理机构。
APEI vs LRN — 直观对比
营收规模更大
LRN
是对方的4.0倍
$158.3M
营收增速更快
LRN
高出11.0%
-3.5%
净利率更高
LRN
高出7.8%
8.0%
自由现金流更多
LRN
多$107.2M
$-15.6M
两年增速更快
LRN
近两年复合增速
1.3%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $158.3M | $631.3M |
| 净利润 | $12.6M | $99.5M |
| 毛利率 | 56.4% | 41.1% |
| 营业利润率 | 12.0% | 23.3% |
| 净利率 | 8.0% | 15.8% |
| 营收同比 | -3.5% | 7.5% |
| 净利润同比 | -2.7% | 3.2% |
| 每股收益（稀释后） | $0.67 | $2.12 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收APEILRN
| Q4 25 | $158.3M | $631.3M | ||
| Q3 25 | $163.2M | $620.9M | ||
| Q2 25 | $162.8M | $653.6M | ||
| Q1 25 | $164.6M | $613.4M | ||
| Q4 24 | $164.1M | $587.2M | ||
| Q3 24 | $153.1M | $551.1M | ||
| Q2 24 | $152.9M | $534.2M | ||
| Q1 24 | $154.4M | $520.8M |
净利润APEILRN
| Q4 25 | $12.6M | $99.5M | ||
| Q3 25 | $5.6M | $68.8M | ||
| Q2 25 | $4.5M | $51.3M | ||
| Q1 25 | $8.9M | $99.3M | ||
| Q4 24 | $13.0M | $96.4M | ||
| Q3 24 | $2.3M | $40.9M | ||
| Q2 24 | $371.0K | $62.8M | ||
| Q1 24 | $516.0K | $69.7M |
毛利率APEILRN
| Q4 25 | 56.4% | 41.1% | ||
| Q3 25 | 54.2% | 39.0% | ||
| Q2 25 | 51.8% | 36.6% | ||
| Q1 25 | 54.5% | 40.6% | ||
| Q4 24 | 56.3% | 40.8% | ||
| Q3 24 | 50.8% | 39.2% | ||
| Q2 24 | 50.2% | 35.2% | ||
| Q1 24 | 53.1% | 38.7% |
营业利润率APEILRN
| Q4 25 | 12.0% | 23.3% | ||
| Q3 25 | 5.9% | 11.1% | ||
| Q2 25 | 4.3% | 8.7% | ||
| Q1 25 | 7.4% | 21.3% | ||
| Q4 24 | 13.1% | 21.3% | ||
| Q3 24 | 2.7% | 8.6% | ||
| Q2 24 | 1.5% | 13.8% | ||
| Q1 24 | 3.4% | 17.0% |
净利率APEILRN
| Q4 25 | 8.0% | 15.8% | ||
| Q3 25 | 3.4% | 11.1% | ||
| Q2 25 | 2.8% | 7.9% | ||
| Q1 25 | 5.4% | 16.2% | ||
| Q4 24 | 7.9% | 16.4% | ||
| Q3 24 | 1.5% | 7.4% | ||
| Q2 24 | 0.2% | 11.8% | ||
| Q1 24 | 0.3% | 13.4% |
每股收益（稀释后）APEILRN
| Q4 25 | $0.67 | $2.12 | ||
| Q3 25 | $0.30 | $1.40 | ||
| Q2 25 | $-0.02 | $0.96 | ||
| Q1 25 | $0.41 | $2.02 | ||
| Q4 24 | $0.63 | $2.03 | ||
| Q3 24 | $0.04 | $0.94 | ||
| Q2 24 | $-0.06 | $1.44 | ||
| Q1 24 | $-0.06 | $1.60 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $174.1M | $625.7M |
| 总债务越低越好 | $94.7M | $417.2M |
| 股东权益账面价值 | $294.8M | $1.5B |
| 总资产 | $521.4M | $2.3B |
| 负债/权益比越低杠杆越低 | 0.32× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资APEILRN
| Q4 25 | $174.1M | $625.7M | ||
| Q3 25 | $191.3M | $715.1M | ||
| Q2 25 | $174.9M | $985.3M | ||
| Q1 25 | $161.6M | $723.7M | ||
| Q4 24 | $131.9M | $717.5M | ||
| Q3 24 | $135.4M | $522.2M | ||
| Q2 24 | $129.8M | $692.3M | ||
| Q1 24 | $125.3M | $376.6M |
总债务APEILRN
| Q4 25 | $94.7M | $417.2M | ||
| Q3 25 | $94.4M | $416.8M | ||
| Q2 25 | $94.1M | $416.3M | ||
| Q1 25 | $93.7M | $415.9M | ||
| Q4 24 | $93.4M | $415.5M | ||
| Q3 24 | $93.1M | $415.1M | ||
| Q2 24 | $92.8M | $414.7M | ||
| Q1 24 | $95.0M | $414.3M |
股东权益APEILRN
| Q4 25 | $294.8M | $1.5B | ||
| Q3 25 | $279.3M | $1.5B | ||
| Q2 25 | $272.2M | $1.5B | ||
| Q1 25 | $310.0M | $1.4B | ||
| Q4 24 | $303.9M | $1.3B | ||
| Q3 24 | $290.4M | $1.2B | ||
| Q2 24 | $288.7M | $1.2B | ||
| Q1 24 | $288.5M | $1.1B |
总资产APEILRN
| Q4 25 | $521.4M | $2.3B | ||
| Q3 25 | $525.3M | $2.3B | ||
| Q2 25 | $537.4M | $2.3B | ||
| Q1 25 | $578.7M | $2.2B | ||
| Q4 24 | $570.1M | $2.1B | ||
| Q3 24 | $569.6M | $2.0B | ||
| Q2 24 | $560.7M | $1.9B | ||
| Q1 24 | $559.0M | $1.9B |
负债/权益比APEILRN
| Q4 25 | 0.32× | 0.27× | ||
| Q3 25 | 0.34× | 0.27× | ||
| Q2 25 | 0.35× | 0.28× | ||
| Q1 25 | 0.30× | 0.29× | ||
| Q4 24 | 0.31× | 0.32× | ||
| Q3 24 | 0.32× | 0.34× | ||
| Q2 24 | 0.32× | 0.35× | ||
| Q1 24 | 0.33× | 0.38× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-11.6M | $91.8M |
| 自由现金流经营现金流 - 资本支出 | $-15.6M | $91.6M |
| 自由现金流率自由现金流/营收 | -9.9% | 14.5% |
| 资本支出强度资本支出/营收 | 2.6% | 0.0% |
| 现金转化率经营现金流/净利润 | -0.92× | 0.92× |
| 过去12个月自由现金流最近4个季度 | $46.1M | $246.3M |
8季度趋势，按日历期对齐
经营现金流APEILRN
| Q4 25 | $-11.6M | $91.8M | ||
| Q3 25 | $21.7M | $-195.8M | ||
| Q2 25 | $14.8M | $298.3M | ||
| Q1 25 | $37.0M | $53.1M | ||
| Q4 24 | $1.6M | $223.4M | ||
| Q3 24 | $14.1M | $-142.0M | ||
| Q2 24 | $12.5M | $172.2M | ||
| Q1 24 | $20.7M | $68.6M |
自由现金流APEILRN
| Q4 25 | $-15.6M | $91.6M | ||
| Q3 25 | $17.5M | $-196.1M | ||
| Q2 25 | $11.1M | $297.9M | ||
| Q1 25 | $33.1M | $52.9M | ||
| Q4 24 | $-1.8M | $222.9M | ||
| Q3 24 | $7.8M | $-142.7M | ||
| Q2 24 | $7.3M | $171.4M | ||
| Q1 24 | $14.5M | $68.4M |
自由现金流率APEILRN
| Q4 25 | -9.9% | 14.5% | ||
| Q3 25 | 10.7% | -31.6% | ||
| Q2 25 | 6.8% | 45.6% | ||
| Q1 25 | 20.1% | 8.6% | ||
| Q4 24 | -1.1% | 38.0% | ||
| Q3 24 | 5.1% | -25.9% | ||
| Q2 24 | 4.7% | 32.1% | ||
| Q1 24 | 9.4% | 13.1% |
资本支出强度APEILRN
| Q4 25 | 2.6% | 0.0% | ||
| Q3 25 | 2.6% | 0.0% | ||
| Q2 25 | 2.3% | 0.1% | ||
| Q1 25 | 2.4% | 0.0% | ||
| Q4 24 | 2.0% | 0.1% | ||
| Q3 24 | 4.1% | 0.1% | ||
| Q2 24 | 3.4% | 0.1% | ||
| Q1 24 | 4.0% | 0.0% |
现金转化率APEILRN
| Q4 25 | -0.92× | 0.92× | ||
| Q3 25 | 3.90× | -2.85× | ||
| Q2 25 | 3.29× | 5.81× | ||
| Q1 25 | 4.16× | 0.53× | ||
| Q4 24 | 0.12× | 2.32× | ||
| Q3 24 | 6.22× | -3.47× | ||
| Q2 24 | 33.57× | 2.74× | ||
| Q1 24 | 40.20× | 0.98× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
APEI
| American Public Education Inc Segment | $71.0M | 45% |
| Rasmussen University Segment | $66.6M | 42% |
| Hondros College Of Nursing Segment | $20.7M | 13% |
LRN
| General Education | $341.4M | 54% |
| Middle High School | $275.6M | 44% |
| Adult | $14.3M | 2% |
