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Stride, Inc.（LRN）与Strategic Education, Inc.（STRA）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Strategic Education, Inc.的2.1倍（$631.3M vs $305.9M）。Stride, Inc.净利率更高（15.8% vs 9.7%，领先6.0%）。Stride, Inc.同比增速更快（7.5% vs -0.8%）。Stride, Inc.自由现金流更多（$91.6M vs $57.3M）。过去两年Stride, Inc.的营收复合增速更高（10.1% vs -1.0%）
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。
Strategic Education, Inc.（简称SEI）是一家教育服务控股企业，前身为斯特雷尔教育公司。旗下拥有营利性在线院校卡佩拉大学、斯特雷尔大学，还运营着DevMountain、Hackbright学院、Sophia Learning等提供非学位课程的教育机构。
LRN vs STRA — 直观对比
营收规模更大
LRN
是对方的2.1倍
$305.9M
营收增速更快
LRN
高出8.3%
-0.8%
净利率更高
LRN
高出6.0%
9.7%
自由现金流更多
LRN
多$34.2M
$57.3M
两年增速更快
LRN
近两年复合增速
-1.0%
损益表 — Q2 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $631.3M | $305.9M |
| 净利润 | $99.5M | $29.7M |
| 毛利率 | 41.1% | — |
| 营业利润率 | 23.3% | 13.0% |
| 净利率 | 15.8% | 9.7% |
| 营收同比 | 7.5% | -0.8% |
| 净利润同比 | 3.2% | -9.3% |
| 每股收益（稀释后） | $2.12 | $1.24 |
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LRNSTRA
| Q1 26 | — | $305.9M | ||
| Q4 25 | $631.3M | $323.2M | ||
| Q3 25 | $620.9M | $319.9M | ||
| Q2 25 | $653.6M | $321.5M | ||
| Q1 25 | $613.4M | $303.6M | ||
| Q4 24 | $587.2M | $311.5M | ||
| Q3 24 | $551.1M | $306.0M | ||
| Q2 24 | $534.2M | $312.3M |
净利润LRNSTRA
| Q1 26 | — | $29.7M | ||
| Q4 25 | $99.5M | $37.9M | ||
| Q3 25 | $68.8M | $26.6M | ||
| Q2 25 | $51.3M | $32.3M | ||
| Q1 25 | $99.3M | $29.7M | ||
| Q4 24 | $96.4M | $25.3M | ||
| Q3 24 | $40.9M | $27.7M | ||
| Q2 24 | $62.8M | $29.9M |
毛利率LRNSTRA
| Q1 26 | — | — | ||
| Q4 25 | 41.1% | — | ||
| Q3 25 | 39.0% | — | ||
| Q2 25 | 36.6% | — | ||
| Q1 25 | 40.6% | — | ||
| Q4 24 | 40.8% | — | ||
| Q3 24 | 39.2% | — | ||
| Q2 24 | 35.2% | — |
营业利润率LRNSTRA
| Q1 26 | — | 13.0% | ||
| Q4 25 | 23.3% | 16.0% | ||
| Q3 25 | 11.1% | 11.6% | ||
| Q2 25 | 8.7% | 14.2% | ||
| Q1 25 | 21.3% | 13.1% | ||
| Q4 24 | 21.3% | 11.6% | ||
| Q3 24 | 8.6% | 11.9% | ||
| Q2 24 | 13.8% | 13.4% |
净利率LRNSTRA
| Q1 26 | — | 9.7% | ||
| Q4 25 | 15.8% | 11.7% | ||
| Q3 25 | 11.1% | 8.3% | ||
| Q2 25 | 7.9% | 10.1% | ||
| Q1 25 | 16.2% | 9.8% | ||
| Q4 24 | 16.4% | 8.1% | ||
| Q3 24 | 7.4% | 9.1% | ||
| Q2 24 | 11.8% | 9.6% |
每股收益（稀释后）LRNSTRA
| Q1 26 | — | $1.24 | ||
| Q4 25 | $2.12 | $1.65 | ||
| Q3 25 | $1.40 | $1.15 | ||
| Q2 25 | $0.96 | $1.37 | ||
| Q1 25 | $2.02 | $1.24 | ||
| Q4 24 | $2.03 | $1.05 | ||
| Q3 24 | $0.94 | $1.15 | ||
| Q2 24 | $1.44 | $1.24 |
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 | $625.7M | $140.8M |
| 总债务越低越好 | $417.2M | — |
| 股东权益账面价值 | $1.5B | $1.6B |
| 总资产 | $2.3B | $2.0B |
| 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LRNSTRA
| Q1 26 | — | $140.8M | ||
| Q4 25 | $625.7M | $148.1M | ||
| Q3 25 | $715.1M | $172.6M | ||
| Q2 25 | $985.3M | $164.9M | ||
| Q1 25 | $723.7M | $182.6M | ||
| Q4 24 | $717.5M | $184.0M | ||
| Q3 24 | $522.2M | $222.1M | ||
| Q2 24 | $692.3M | $256.2M |
总债务LRNSTRA
| Q1 26 | — | — | ||
| 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LRNSTRA
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.2B | $1.7B |
总资产LRNSTRA
| Q1 26 | — | $2.0B | ||
| Q4 25 | $2.3B | $2.0B | ||
| Q3 25 | $2.3B | $2.1B | ||
| Q2 25 | $2.3B | $2.1B | ||
| Q1 25 | $2.2B | $2.1B | ||
| Q4 24 | $2.1B | $2.0B | ||
| Q3 24 | $2.0B | $2.2B | ||
| Q2 24 | $1.9B | $2.2B |
负债/权益比LRNSTRA
| Q1 26 | — | — | ||
| 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 | $91.8M | $67.7M |
| 自由现金流经营现金流 - 资本支出 | $91.6M | $57.3M |
| 自由现金流率自由现金流/营收 | 14.5% | 18.7% |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | 0.92× | 2.27× |
| 过去12个月自由现金流最近4个季度 | $246.3M | $153.9M |
8季度趋势，按日历期对齐
经营现金流LRNSTRA
| Q1 26 | — | $67.7M | ||
| Q4 25 | $91.8M | $39.2M | ||
| Q3 25 | $-195.8M | $60.1M | ||
| Q2 25 | $298.3M | $31.2M | ||
| Q1 25 | $53.1M | $67.7M | ||
| Q4 24 | $223.4M | $15.9M | ||
| Q3 24 | $-142.0M | $51.5M | ||
| Q2 24 | $172.2M | $24.3M |
自由现金流LRNSTRA
| Q1 26 | — | $57.3M | ||
| Q4 25 | $91.6M | $27.0M | ||
| Q3 25 | $-196.1M | $49.3M | ||
| Q2 25 | $297.9M | $20.4M | ||
| Q1 25 | $52.9M | $57.3M | ||
| Q4 24 | $222.9M | $4.7M | ||
| Q3 24 | $-142.7M | $42.1M | ||
| Q2 24 | $171.4M | $13.6M |
自由现金流率LRNSTRA
| Q1 26 | — | 18.7% | ||
| Q4 25 | 14.5% | 8.3% | ||
| Q3 25 | -31.6% | 15.4% | ||
| Q2 25 | 45.6% | 6.3% | ||
| Q1 25 | 8.6% | 18.9% | ||
| Q4 24 | 38.0% | 1.5% | ||
| Q3 24 | -25.9% | 13.8% | ||
| Q2 24 | 32.1% | 4.3% |
资本支出强度LRNSTRA
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 3.8% | ||
| Q3 25 | 0.0% | 3.4% | ||
| Q2 25 | 0.1% | 3.4% | ||
| Q1 25 | 0.0% | 3.4% | ||
| Q4 24 | 0.1% | 3.6% | ||
| Q3 24 | 0.1% | 3.1% | ||
| Q2 24 | 0.1% | 3.4% |
现金转化率LRNSTRA
| Q1 26 | — | 2.27× | ||
| Q4 25 | 0.92× | 1.03× | ||
| Q3 25 | -2.85× | 2.26× | ||
| Q2 25 | 5.81× | 0.97× | ||
| Q1 25 | 0.53× | 2.27× | ||
| Q4 24 | 2.32× | 0.63× | ||
| Q3 24 | -3.47× | 1.86× | ||
| Q2 24 | 2.74× | 0.81× |
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 | $341.4M | 54% |
| Middle High School | $275.6M | 44% |
| Adult | $14.3M | 2% |
STRA
| U.S. Higher Education | $221.0M | 72% |
| Australia/New Zealand | $48.3M | 16% |
| Education Technology Services | $34.3M | 11% |
