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Stride vs Strategic Education: revenue, profit, margins and growth compared

Stride brought in $2.5B of revenue in fiscal 2026, Strategic Education $1.3B in fiscal 2025. Revenue changed by +4.7% at Stride and +4.0% at Strategic Education on the year before, so Stride grew faster. Stride kept 13.4% of its revenue as net profit, Strategic Education 10.0%. Free cash flow was $433.2M at Stride and $153.9M at Strategic Education.

Side by side, latest fiscal year

LRNSTRA
Fiscal year endedFY2026 (June 30, 2026)FY2025 (December 31, 2025)
Revenue$2.5B$1.3B
Revenue growth+4.7%+4.0%
Net income$338.2M$126.6M
Net margin13.4%10.0%
Free cash flow$433.2M$153.9M
Free cash flow margin17.2%12.1%
Earnings per share (diluted)$7.14$5.41
Cash$754.5M$140.8M
Debt$418Mn/a
Price to earnings11.014.2
Market value$3.3B$1.7B
Dividend yieldn/a3.12%
Rank by revenue in sector#26 of 162 · Real estate#52 of 162 · Real estate

Over the years

Revenue
LRN FY2019: $1BLRN FY2020: $1BLRN FY2021: $1.5BLRN FY2022: $1.7BLRN FY2023: $1.8BLRN FY2024: $2BLRN FY2025: $2.4BLRN FY2026: $2.5BSTRA FY2018: $634.2MSTRA FY2019: $997.1MSTRA FY2020: $1BSTRA FY2021: $1.1BSTRA FY2022: $1.1BSTRA FY2023: $1.1BSTRA FY2024: $1.2BSTRA FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25FY26
LRN $2.5BSTRA $1.3B
Net income
LRN FY2019: $37.2MLRN FY2020: $24.5MLRN FY2021: $71.5MLRN FY2022: $107.1MLRN FY2023: $126.9MLRN FY2024: $204.2MLRN FY2025: $287.9MLRN FY2026: $338.2MSTRA FY2018: -$15.7MSTRA FY2019: $81.1MSTRA FY2020: $86.3MSTRA FY2021: $55.1MSTRA FY2022: $46.7MSTRA FY2023: $69.8MSTRA FY2024: $112.7MSTRA FY2025: $126.6MFY18FY19FY20FY21FY22FY23FY24FY25FY26
LRN $338.2MSTRA $126.6M
Net margin
LRN FY2019: 3.7%LRN FY2020: 2.4%LRN FY2021: 4.6%LRN FY2022: 6.4%LRN FY2023: 6.9%LRN FY2024: 10.0%LRN FY2025: 12.0%LRN FY2026: 13.4%STRA FY2018: -2.5%STRA FY2019: 8.1%STRA FY2020: 8.4%STRA FY2021: 4.9%STRA FY2022: 4.4%STRA FY2023: 6.2%STRA FY2024: 9.2%STRA FY2025: 10.0%FY18FY19FY20FY21FY22FY23FY24FY25FY26
LRN 13.4%STRA 10.0%
Revenue growth
LRN FY2020: +2.5%LRN FY2021: +47.7%LRN FY2022: +9.8%LRN FY2023: +8.9%LRN FY2024: +11.0%LRN FY2025: +17.9%LRN FY2026: +4.7%STRA FY2019: +57.2%STRA FY2020: +3.1%STRA FY2021: +10.1%STRA FY2022: -5.9%STRA FY2023: +6.3%STRA FY2024: +7.7%STRA FY2025: +4.0%FY19FY20FY21FY22FY23FY24FY25FY26
LRN +4.7%STRA +4.0%
Free cash flow
LRN FY2019: $136.1MLRN FY2020: $78.7MLRN FY2021: $130.6MLRN FY2022: $197.1MLRN FY2023: $198.8MLRN FY2024: $276.5MLRN FY2025: $431MLRN FY2026: $433.2MSTRA FY2018: $19.3MSTRA FY2019: $163.5MSTRA FY2020: $96.1MSTRA FY2021: $131.1MSTRA FY2022: $82.9MSTRA FY2023: $80.2MSTRA FY2024: $128.8MSTRA FY2025: $153.9MFY18FY19FY20FY21FY22FY23FY24FY25FY26
LRN $433.2MSTRA $153.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Stride and Strategic Education

Which is bigger by revenue, Stride or Strategic Education?

Stride is bigger by revenue: $2.5B in fiscal 2026, against $1.3B for Strategic Education in fiscal 2025.

Which keeps more of its revenue as profit, Stride or Strategic Education?

Stride had a net margin of 13.4% in fiscal 2026; Strategic Education had 10.0% in fiscal 2025.

Which grew revenue faster, Stride or Strategic Education?

In their latest fiscal years revenue changed by +4.7% at Stride and +4.0% at Strategic Education.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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