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LINCOLN EDUCATIONAL SERVICES CORP（LINC）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LINCOLN EDUCATIONAL SERVICES CORP的4.4倍（$631.3M vs $142.9M）。Stride, Inc.净利率更高（15.8% vs 8.9%，领先6.9%）。LINCOLN EDUCATIONAL SERVICES CORP同比增速更快（19.7% vs 7.5%）。Stride, Inc.自由现金流更多（$91.6M vs $25.0M）。过去两年LINCOLN EDUCATIONAL SERVICES CORP的营收复合增速更高（17.6% vs 10.1%）
林肯技术教育集团是美国营利性高等职业教育机构，总部位于新泽西州帕西帕尼，在美国科罗拉多、康涅狄格、佐治亚等12个州都设有校区，所有校区均由林肯教育服务公司持有运营，主打面向就业的高等职业技术教育服务。
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。
LINC vs LRN — 直观对比
营收规模更大
LRN
是对方的4.4倍
$142.9M
营收增速更快
LINC
高出12.2%
7.5%
净利率更高
LRN
高出6.9%
8.9%
自由现金流更多
LRN
多$66.6M
$25.0M
两年增速更快
LINC
近两年复合增速
10.1%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $142.9M | $631.3M |
| 净利润 | $12.7M | $99.5M |
| 毛利率 | 62.3% | 41.1% |
| 营业利润率 | 12.4% | 23.3% |
| 净利率 | 8.9% | 15.8% |
| 营收同比 | 19.7% | 7.5% |
| 净利润同比 | 85.9% | 3.2% |
| 每股收益（稀释后） | $0.41 | $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LINCLRN
| Q4 25 | $142.9M | $631.3M | ||
| Q3 25 | $141.4M | $620.9M | ||
| Q2 25 | $116.5M | $653.6M | ||
| Q1 25 | $117.5M | $613.4M | ||
| Q4 24 | $119.4M | $587.2M | ||
| Q3 24 | $114.4M | $551.1M | ||
| Q2 24 | $102.9M | $534.2M | ||
| Q1 24 | $103.4M | $520.8M |
净利润LINCLRN
| Q4 25 | $12.7M | $99.5M | ||
| Q3 25 | $3.8M | $68.8M | ||
| Q2 25 | $1.6M | $51.3M | ||
| Q1 25 | $1.9M | $99.3M | ||
| Q4 24 | $6.8M | $96.4M | ||
| Q3 24 | $4.0M | $40.9M | ||
| Q2 24 | $-682.0K | $62.8M | ||
| Q1 24 | $-214.0K | $69.7M |
毛利率LINCLRN
| Q4 25 | 62.3% | 41.1% | ||
| Q3 25 | 59.5% | 39.0% | ||
| Q2 25 | 59.8% | 36.6% | ||
| Q1 25 | 59.7% | 40.6% | ||
| Q4 24 | 62.2% | 40.8% | ||
| Q3 24 | 58.0% | 39.2% | ||
| Q2 24 | 55.7% | 35.2% | ||
| Q1 24 | 58.4% | 38.7% |
营业利润率LINCLRN
| Q4 25 | 12.4% | 23.3% | ||
| Q3 25 | 4.4% | 11.1% | ||
| Q2 25 | 2.5% | 8.7% | ||
| Q1 25 | 2.9% | 21.3% | ||
| Q4 24 | 9.2% | 21.3% | ||
| Q3 24 | 5.1% | 8.6% | ||
| Q2 24 | -1.1% | 13.8% | ||
| Q1 24 | -0.4% | 17.0% |
净利率LINCLRN
| Q4 25 | 8.9% | 15.8% | ||
| Q3 25 | 2.7% | 11.1% | ||
| Q2 25 | 1.3% | 7.9% | ||
| Q1 25 | 1.7% | 16.2% | ||
| Q4 24 | 5.7% | 16.4% | ||
| Q3 24 | 3.5% | 7.4% | ||
| Q2 24 | -0.7% | 11.8% | ||
| Q1 24 | -0.2% | 13.4% |
每股收益（稀释后）LINCLRN
| Q4 25 | $0.41 | $2.12 | ||
| Q3 25 | $0.12 | $1.40 | ||
| Q2 25 | $0.05 | $0.96 | ||
| Q1 25 | $0.06 | $2.02 | ||
| Q4 24 | $0.22 | $2.03 | ||
| Q3 24 | $0.13 | $0.94 | ||
| Q2 24 | $-0.02 | $1.44 | ||
| Q1 24 | $-0.01 | $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 | $28.5M | $625.7M |
| 总债务越低越好 | — | $417.2M |
| 股东权益账面价值 | $199.7M | $1.5B |
| 总资产 | $493.2M | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资LINCLRN
| Q4 25 | $28.5M | $625.7M | ||
| Q3 25 | $13.5M | $715.1M | ||
| Q2 25 | $16.7M | $985.3M | ||
| Q1 25 | $28.7M | $723.7M | ||
| Q4 24 | $59.3M | $717.5M | ||
| Q3 24 | $54.0M | $522.2M | ||
| Q2 24 | $67.0M | $692.3M | ||
| Q1 24 | $68.6M | $376.6M |
总债务LINCLRN
| Q4 25 | — | $417.2M | ||
| Q3 25 | — | $416.8M | ||
| Q2 25 | — | $416.3M | ||
| Q1 25 | — | $415.9M | ||
| Q4 24 | — | $415.5M | ||
| Q3 24 | — | $415.1M | ||
| Q2 24 | — | $414.7M | ||
| Q1 24 | — | $414.3M |
股东权益LINCLRN
| Q4 25 | $199.7M | $1.5B | ||
| Q3 25 | $185.9M | $1.5B | ||
| Q2 25 | $180.7M | $1.5B | ||
| Q1 25 | $177.8M | $1.4B | ||
| Q4 24 | $178.3M | $1.3B | ||
| Q3 24 | $170.0M | $1.2B | ||
| Q2 24 | $164.9M | $1.2B | ||
| Q1 24 | $164.5M | $1.1B |
总资产LINCLRN
| Q4 25 | $493.2M | $2.3B | ||
| Q3 25 | $466.9M | $2.3B | ||
| Q2 25 | $447.3M | $2.3B | ||
| Q1 25 | $427.4M | $2.2B | ||
| Q4 24 | $436.6M | $2.1B | ||
| Q3 24 | $404.0M | $2.0B | ||
| Q2 24 | $366.4M | $1.9B | ||
| Q1 24 | $355.2M | $1.9B |
负债/权益比LINCLRN
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.28× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.35× | ||
| Q1 24 | — | 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 | $43.5M | $91.8M |
| 自由现金流经营现金流 - 资本支出 | $25.0M | $91.6M |
| 自由现金流率自由现金流/营收 | 17.5% | 14.5% |
| 资本支出强度资本支出/营收 | 13.0% | 0.0% |
| 现金转化率经营现金流/净利润 | 3.43× | 0.92× |
| 过去12个月自由现金流最近4个季度 | $-27.3M | $246.3M |
8季度趋势，按日历期对齐
经营现金流LINCLRN
| Q4 25 | $43.5M | $91.8M | ||
| Q3 25 | $23.9M | $-195.8M | ||
| Q2 25 | $299.0K | $298.3M | ||
| Q1 25 | $-8.4M | $53.1M | ||
| Q4 24 | $30.3M | $223.4M | ||
| Q3 24 | $5.6M | $-142.0M | ||
| Q2 24 | $8.3M | $172.2M | ||
| Q1 24 | $-14.9M | $68.6M |
自由现金流LINCLRN
| Q4 25 | $25.0M | $91.6M | ||
| Q3 25 | $2.0M | $-196.1M | ||
| Q2 25 | $-26.1M | $297.9M | ||
| Q1 25 | $-28.3M | $52.9M | ||
| Q4 24 | $5.5M | $222.9M | ||
| Q3 24 | $-13.8M | $-142.7M | ||
| Q2 24 | $-2.7M | $171.4M | ||
| Q1 24 | $-16.6M | $68.4M |
自由现金流率LINCLRN
| Q4 25 | 17.5% | 14.5% | ||
| Q3 25 | 1.4% | -31.6% | ||
| Q2 25 | -22.4% | 45.6% | ||
| Q1 25 | -24.1% | 8.6% | ||
| Q4 24 | 4.6% | 38.0% | ||
| Q3 24 | -12.0% | -25.9% | ||
| Q2 24 | -2.6% | 32.1% | ||
| Q1 24 | -16.1% | 13.1% |
资本支出强度LINCLRN
| Q4 25 | 13.0% | 0.0% | ||
| Q3 25 | 15.5% | 0.0% | ||
| Q2 25 | 22.7% | 0.1% | ||
| Q1 25 | 16.9% | 0.0% | ||
| Q4 24 | 20.8% | 0.1% | ||
| Q3 24 | 16.9% | 0.1% | ||
| Q2 24 | 10.7% | 0.1% | ||
| Q1 24 | 1.6% | 0.0% |
现金转化率LINCLRN
| Q4 25 | 3.43× | 0.92× | ||
| Q3 25 | 6.29× | -2.85× | ||
| Q2 25 | 0.19× | 5.81× | ||
| Q1 25 | -4.31× | 0.53× | ||
| Q4 24 | 4.43× | 2.32× | ||
| Q3 24 | 1.42× | -3.47× | ||
| Q2 24 | — | 2.74× | ||
| Q1 24 | — | 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
LINC
| Transferred Over Time | $136.0M | 95% |
| Transferred At Point In Time | $6.9M | 5% |
LRN
| General Education | $341.4M | 54% |
| Middle High School | $275.6M | 44% |
| Adult | $14.3M | 2% |
