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Stride, Inc.（LRN）与M/I HOMES, INC.（MHO）财务数据对比。点击上方公司名可切换其他公司
M/I HOMES, INC.的季度营收约是Stride, Inc.的1.8倍（$1.1B vs $629.9M），Stride, Inc.净利率更高（14.1% vs 5.6%，领先8.5%），Stride, Inc.同比增速更快（2.7% vs -4.8%），过去两年Stride, Inc.的营收复合增速更高（8.6% vs 4.7%）
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。
M/I Homes是美国领先的住宅建筑企业，主要设计、建造及销售独栋住宅、联排住宅与复式公寓，业务覆盖美国多州，面向首次置业、改善型及高端置业群体，提供节能住宅产品与个性化定制服务。
LRN vs MHO — 直观对比
营收规模更大
MHO
是对方的1.8倍
$629.9M
营收增速更快
LRN
高出7.5%
-4.8%
净利率更高
LRN
高出8.5%
5.6%
两年增速更快
LRN
近两年复合增速
4.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $629.9M | $1.1B |
| 净利润 | $88.5M | $64.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | 20.5% | 6.5% |
| 净利率 | 14.1% | 5.6% |
| 营收同比 | 2.7% | -4.8% |
| 净利润同比 | 8.5% | -52.1% |
| 每股收益（稀释后） | $1.93 | $2.42 |
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LRNMHO
| Q3 26 | $629.9M | — | ||
| Q4 25 | $631.3M | $1.1B | ||
| Q3 25 | $620.9M | $1.1B | ||
| Q2 25 | $653.6M | $1.2B | ||
| Q1 25 | $613.4M | $976.1M | ||
| Q4 24 | $587.2M | $1.2B | ||
| Q3 24 | $551.1M | $1.1B | ||
| Q2 24 | $534.2M | $1.1B |
净利润LRNMHO
| Q3 26 | $88.5M | — | ||
| Q4 25 | $99.5M | $64.0M | ||
| Q3 25 | $68.8M | $106.5M | ||
| Q2 25 | $51.3M | $121.2M | ||
| Q1 25 | $99.3M | $111.2M | ||
| Q4 24 | $96.4M | $133.5M | ||
| Q3 24 | $40.9M | $145.4M | ||
| Q2 24 | $62.8M | $146.7M |
毛利率LRNMHO
| Q3 26 | — | — | ||
| Q4 25 | 41.1% | 17.4% | ||
| Q3 25 | 39.0% | 24.5% | ||
| Q2 25 | 36.6% | 24.7% | ||
| Q1 25 | 40.6% | 25.9% | ||
| Q4 24 | 40.8% | 24.6% | ||
| Q3 24 | 39.2% | 27.1% | ||
| Q2 24 | 35.2% | 27.9% |
营业利润率LRNMHO
| Q3 26 | 20.5% | — | ||
| Q4 25 | 23.3% | 6.5% | ||
| Q3 25 | 11.1% | 12.0% | ||
| Q2 25 | 8.7% | 13.4% | ||
| Q1 25 | 21.3% | 14.4% | ||
| Q4 24 | 21.3% | 13.6% | ||
| Q3 24 | 8.6% | 15.9% | ||
| Q2 24 | 13.8% | 16.8% |
净利率LRNMHO
| Q3 26 | 14.1% | — | ||
| Q4 25 | 15.8% | 5.6% | ||
| Q3 25 | 11.1% | 9.4% | ||
| Q2 25 | 7.9% | 10.4% | ||
| Q1 25 | 16.2% | 11.4% | ||
| Q4 24 | 16.4% | 11.1% | ||
| Q3 24 | 7.4% | 12.7% | ||
| Q2 24 | 11.8% | 13.2% |
每股收益（稀释后）LRNMHO
| Q3 26 | $1.93 | — | ||
| Q4 25 | $2.12 | $2.42 | ||
| Q3 25 | $1.40 | $3.92 | ||
| Q2 25 | $0.96 | $4.42 | ||
| Q1 25 | $2.02 | $3.98 | ||
| Q4 24 | $2.03 | $4.71 | ||
| Q3 24 | $0.94 | $5.10 | ||
| Q2 24 | $1.44 | $5.12 |
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 | $614.0M | — |
| 总债务越低越好 | $417.6M | — |
| 股东权益账面价值 | $1.6B | $3.2B |
| 总资产 | $2.4B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.25× | — |
8季度趋势，按日历期对齐
现金及短期投资LRNMHO
| Q3 26 | $614.0M | — | ||
| Q4 25 | $625.7M | — | ||
| Q3 25 | $715.1M | — | ||
| Q2 25 | $985.3M | — | ||
| Q1 25 | $723.7M | — | ||
| Q4 24 | $717.5M | — | ||
| Q3 24 | $522.2M | — | ||
| Q2 24 | $692.3M | — |
总债务LRNMHO
| Q3 26 | $417.6M | — | ||
| 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 | — |
股东权益LRNMHO
| Q3 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $3.2B | ||
| Q3 25 | $1.5B | $3.1B | ||
| Q2 25 | $1.5B | $3.1B | ||
| Q1 25 | $1.4B | $3.0B | ||
| Q4 24 | $1.3B | $2.9B | ||
| Q3 24 | $1.2B | $2.8B | ||
| Q2 24 | $1.2B | $2.7B |
总资产LRNMHO
| Q3 26 | $2.4B | — | ||
| Q4 25 | $2.3B | $4.8B | ||
| Q3 25 | $2.3B | $4.8B | ||
| Q2 25 | $2.3B | $4.7B | ||
| Q1 25 | $2.2B | $4.6B | ||
| Q4 24 | $2.1B | $4.5B | ||
| Q3 24 | $2.0B | $4.5B | ||
| Q2 24 | $1.9B | $4.3B |
负债/权益比LRNMHO
| Q3 26 | 0.25× | — | ||
| 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× | — |
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 | $117.0M | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-13.0M |
| 自由现金流率自由现金流/营收 | — | -1.1% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | 1.32× | -0.14× |
| 过去12个月自由现金流最近4个季度 | — | $127.7M |
8季度趋势，按日历期对齐
经营现金流LRNMHO
| Q3 26 | $117.0M | — | ||
| Q4 25 | $91.8M | $-8.7M | ||
| Q3 25 | $-195.8M | $43.4M | ||
| Q2 25 | $298.3M | $37.8M | ||
| Q1 25 | $53.1M | $64.9M | ||
| Q4 24 | $223.4M | $104.4M | ||
| Q3 24 | $-142.0M | $-67.9M | ||
| Q2 24 | $172.2M | $27.5M |
自由现金流LRNMHO
| Q3 26 | — | — | ||
| Q4 25 | $91.6M | $-13.0M | ||
| Q3 25 | $-196.1M | $42.0M | ||
| Q2 25 | $297.9M | $35.1M | ||
| Q1 25 | $52.9M | $63.5M | ||
| Q4 24 | $222.9M | $102.3M | ||
| Q3 24 | $-142.7M | $-68.5M | ||
| Q2 24 | $171.4M | $22.0M |
自由现金流率LRNMHO
| Q3 26 | — | — | ||
| Q4 25 | 14.5% | -1.1% | ||
| Q3 25 | -31.6% | 3.7% | ||
| Q2 25 | 45.6% | 3.0% | ||
| Q1 25 | 8.6% | 6.5% | ||
| Q4 24 | 38.0% | 8.5% | ||
| Q3 24 | -25.9% | -6.0% | ||
| Q2 24 | 32.1% | 2.0% |
资本支出强度LRNMHO
| Q3 26 | — | — | ||
| Q4 25 | 0.0% | 0.4% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.1% | 0.2% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.1% | 0.5% |
现金转化率LRNMHO
| Q3 26 | 1.32× | — | ||
| Q4 25 | 0.92× | -0.14× | ||
| Q3 25 | -2.85× | 0.41× | ||
| Q2 25 | 5.81× | 0.31× | ||
| Q1 25 | 0.53× | 0.58× | ||
| Q4 24 | 2.32× | 0.78× | ||
| Q3 24 | -3.47× | -0.47× | ||
| Q2 24 | 2.74× | 0.19× |
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
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
