vs
Stride, Inc.（LRN）与UiPath, Inc.（PATH）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UiPath, Inc.的1.5倍（$629.9M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 14.1%，领先34.3%），UiPath, Inc.同比增速更快（15.9% vs 2.7%），过去两年Stride, Inc.的营收复合增速更高（6.9% vs 0.7%）
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。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
LRN vs PATH — 直观对比
营收规模更大
LRN
是对方的1.5倍
$411.1M
营收增速更快
PATH
高出13.2%
2.7%
净利率更高
PATH
高出34.3%
14.1%
两年增速更快
LRN
近两年复合增速
0.7%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $629.9M | $411.1M |
| 净利润 | $88.5M | $198.8M |
| 毛利率 | — | 83.3% |
| 营业利润率 | 20.5% | 3.2% |
| 净利率 | 14.1% | 48.4% |
| 营收同比 | 2.7% | 15.9% |
| 净利润同比 | 8.5% | 1966.2% |
| 每股收益（稀释后） | $1.93 | $0.37 |
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LRNPATH
| Q3 26 | $629.9M | — | ||
| Q4 25 | $631.3M | $411.1M | ||
| Q3 25 | $620.9M | $361.7M | ||
| Q2 25 | $653.6M | $356.6M | ||
| Q1 25 | $613.4M | $423.6M | ||
| Q4 24 | $587.2M | $354.7M | ||
| Q3 24 | $551.1M | $316.3M | ||
| Q2 24 | — | $335.1M |
净利润LRNPATH
| Q3 26 | $88.5M | — | ||
| Q4 25 | $99.5M | $198.8M | ||
| Q3 25 | $68.8M | $1.6M | ||
| Q2 25 | $51.3M | $-22.6M | ||
| Q1 25 | $99.3M | $51.8M | ||
| Q4 24 | $96.4M | $-10.7M | ||
| Q3 24 | $40.9M | $-86.1M | ||
| Q2 24 | — | $-28.7M |
毛利率LRNPATH
| Q3 26 | — | — | ||
| Q4 25 | 41.1% | 83.3% | ||
| Q3 25 | 39.0% | 82.2% | ||
| Q2 25 | 36.6% | 82.1% | ||
| Q1 25 | 40.6% | 84.8% | ||
| Q4 24 | 40.8% | 82.0% | ||
| Q3 24 | 39.2% | 80.0% | ||
| Q2 24 | — | 83.5% |
营业利润率LRNPATH
| Q3 26 | 20.5% | — | ||
| Q4 25 | 23.3% | 3.2% | ||
| Q3 25 | 11.1% | -5.6% | ||
| Q2 25 | 8.7% | -4.6% | ||
| Q1 25 | 21.3% | 7.9% | ||
| Q4 24 | 21.3% | -12.2% | ||
| Q3 24 | 8.6% | -32.7% | ||
| Q2 24 | — | -14.8% |
净利率LRNPATH
| Q3 26 | 14.1% | — | ||
| Q4 25 | 15.8% | 48.4% | ||
| Q3 25 | 11.1% | 0.4% | ||
| Q2 25 | 7.9% | -6.3% | ||
| Q1 25 | 16.2% | 12.2% | ||
| Q4 24 | 16.4% | -3.0% | ||
| Q3 24 | 7.4% | -27.2% | ||
| Q2 24 | — | -8.6% |
每股收益（稀释后）LRNPATH
| Q3 26 | $1.93 | — | ||
| Q4 25 | $2.12 | $0.37 | ||
| Q3 25 | $1.40 | $0.00 | ||
| Q2 25 | $0.96 | $-0.04 | ||
| Q1 25 | $2.02 | $0.09 | ||
| Q4 24 | $2.03 | $-0.02 | ||
| Q3 24 | $0.94 | $-0.15 | ||
| Q2 24 | — | $-0.05 |
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 | $1.4B |
| 总债务越低越好 | $417.6M | — |
| 股东权益账面价值 | $1.6B | $1.9B |
| 总资产 | $2.4B | $2.9B |
| 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LRNPATH
| Q3 26 | $614.0M | — | ||
| Q4 25 | $625.7M | $1.4B | ||
| Q3 25 | $715.1M | $1.4B | ||
| Q2 25 | $985.3M | $1.6B | ||
| Q1 25 | $723.7M | $1.6B | ||
| Q4 24 | $717.5M | $1.6B | ||
| Q3 24 | $522.2M | $1.7B | ||
| Q2 24 | — | $1.9B |
总债务LRNPATH
| 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 | — | — |
股东权益LRNPATH
| Q3 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $1.9B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.8B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | — | $2.0B |
总资产LRNPATH
| Q3 26 | $2.4B | — | ||
| Q4 25 | $2.3B | $2.9B | ||
| Q3 25 | $2.3B | $2.6B | ||
| Q2 25 | $2.3B | $2.6B | ||
| Q1 25 | $2.2B | $2.9B | ||
| Q4 24 | $2.1B | $2.7B | ||
| Q3 24 | $2.0B | $2.7B | ||
| Q2 24 | — | $2.8B |
负债/权益比LRNPATH
| 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 | — | — |
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 | $28.3M |
| 自由现金流经营现金流 - 资本支出 | — | $25.1M |
| 自由现金流率自由现金流/营收 | — | 6.1% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流LRNPATH
| Q3 26 | $117.0M | — | ||
| Q4 25 | $91.8M | $28.3M | ||
| Q3 25 | $-195.8M | $41.6M | ||
| Q2 25 | $298.3M | $119.0M | ||
| Q1 25 | $53.1M | $146.1M | ||
| Q4 24 | $223.4M | $28.1M | ||
| Q3 24 | $-142.0M | $46.4M | ||
| Q2 24 | — | $100.0M |
自由现金流LRNPATH
| Q3 26 | — | — | ||
| Q4 25 | $91.6M | $25.1M | ||
| Q3 25 | $-196.1M | — | ||
| Q2 25 | $297.9M | $106.2M | ||
| Q1 25 | $52.9M | $138.7M | ||
| Q4 24 | $222.9M | $23.2M | ||
| Q3 24 | $-142.7M | $45.0M | ||
| Q2 24 | — | $98.8M |
自由现金流率LRNPATH
| Q3 26 | — | — | ||
| Q4 25 | 14.5% | 6.1% | ||
| Q3 25 | -31.6% | — | ||
| Q2 25 | 45.6% | 29.8% | ||
| Q1 25 | 8.6% | 32.7% | ||
| Q4 24 | 38.0% | 6.5% | ||
| Q3 24 | -25.9% | 14.2% | ||
| Q2 24 | — | 29.5% |
资本支出强度LRNPATH
| Q3 26 | — | — | ||
| Q4 25 | 0.0% | 0.8% | ||
| Q3 25 | 0.0% | 0.0% | ||
| Q2 25 | 0.1% | 3.6% | ||
| Q1 25 | 0.0% | 1.7% | ||
| Q4 24 | 0.1% | 1.4% | ||
| Q3 24 | 0.1% | 0.4% | ||
| Q2 24 | — | 0.4% |
现金转化率LRNPATH
| Q3 26 | 1.32× | — | ||
| Q4 25 | 0.92× | 0.14× | ||
| Q3 25 | -2.85× | 26.25× | ||
| Q2 25 | 5.81× | — | ||
| Q1 25 | 0.53× | 2.82× | ||
| Q4 24 | 2.32× | — | ||
| Q3 24 | -3.47× | — | ||
| Q2 24 | — | — |
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% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
