Grand Canyon Education (LOPE) Financials

$174.95 -0.65 (-0.37%)

As of 04:00 PM Eastern

Annual Income Statements for Grand Canyon Education

This table shows Grand Canyon Education's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	131	149	203	229	259	257	260	185	205	226
Consolidated Net Income / (Loss)	131	149	203	229	259	257	260	185	205	226
Net Income / (Loss) Continuing Operations	131	149	203	229	259	257	260	185	205	226
Total Pre-Tax Income	209	236	284	287	318	333	331	240	260	291
Total Operating Income	210	237	283	258	265	277	282	238	249	275
Total Gross Profit	449	404	461	467	555	610	647	638	659	710
Total Revenue	778	873	974	846	779	844	897	911	961	1,033
Operating Revenue	778	873	974	846	779	844	897	911	961	1,033
Total Cost of Revenue	330	469	513	378	224	235	249	273	302	323
Operating Cost of Revenue	330	469	513	378	224	235	249	273	302	323
Total Operating Expenses	238	167	179	209	290	332	365	400	409	434
Selling, General & Admin Expense	42	28	27	30	44	43	42	45	43	46
Marketing Expense	84	99	109	117	143	164	183	196	203	212
Amortization Expense	-	-	-	0.00	8.22	8.42	8.42	8.42	8.42	8.42
Other Operating Expenses / (Income)	113	40	42	62	94	116	132	150	155	165
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	1.90
Total Other Income / (Expense), net	-1.35	-1.08	0.77	29	52	56	49	2.62	10	16
Interest Expense	1.25	1.33	2.17	1.54	11	4.40	3.60	0.00	0.03	0.00
Interest & Investment Income	-0.11	0.25	2.94	30	64	60	53	2.62	10	16
Income Tax Expense	78	88	80	58	58	76	71	55	55	65
Basic Earnings per Share	$2.86	$3.22	$4.31	$4.81	$5.42	$5.49	$5.94	$5.75	$6.83	$7.77
Weighted Average Basic Shares Outstanding	45.98M	46.08M	47.14M	47.61M	47.81M	46.88M	43.84M	32.13M	29.99M	29.10M
Diluted Earnings per Share	$2.78	$3.15	$4.22	$4.73	$5.37	$5.45	$5.92	$5.73	$6.80	$7.73
Weighted Average Diluted Shares Outstanding	47.28M	47.12M	48.24M	48.41M	48.27M	47.17M	43.96M	32.24M	30.15M	29.27M
Weighted Average Basic & Diluted Shares Outstanding	45.90M	46.10M	47.20M	47.60M	48.17M	46.87M	35.33M	31.04M	30.02M	28.72M

This table shows Grand Canyon Education's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	30	71	60	29	36	81	68	35	41	82
Consolidated Net Income / (Loss)	30	71	60	29	36	81	68	35	41	82
Net Income / (Loss) Continuing Operations	30	71	60	29	36	81	68	35	41	82
Total Pre-Tax Income	36	92	77	38	44	101	88	47	52	104
Total Operating Income	36	91	74	35	42	98	84	43	48	100
Total Gross Profit	141	186	177	138	148	196	192	149	161	207
Total Revenue	209	259	250	211	222	278	275	227	238	293
Operating Revenue	209	259	250	211	222	278	275	227	238	293
Total Cost of Revenue	67	73	73	72	74	83	83	78	77	85
Operating Cost of Revenue	67	73	73	72	74	83	83	78	77	85
Total Operating Expenses	106	95	102	103	107	98	107	107	113	107
Selling, General & Admin Expense	16	10	9.79	11	12	10	11	11	14	11
Marketing Expense	51	45	53	51	53	46	55	53	55	50
Amortization Expense	2.11	2.10	2.11	2.11	2.11	2.10	2.11	2.11	2.11	2.10
Other Operating Expenses / (Income)	38	38	38	39	39	39	39	41	42	43
Total Other Income / (Expense), net	0.75	1.33	2.13	2.58	2.74	2.96	3.73	4.11	4.15	3.93
Interest & Investment Income	0.75	1.33	2.15	2.59	2.74	2.97	3.73	4.11	4.15	3.93
Income Tax Expense	6.25	21	17	9.05	8.54	20	20	12	11	22
Basic Earnings per Share	$0.96	$2.32	$1.96	$0.96	$1.20	$2.71	$2.31	$1.19	$1.43	$2.84
Weighted Average Basic Shares Outstanding	31.30M	32.13M	30.46M	30.18M	29.78M	29.99M	29.46M	29.29M	29.00M	29.10M
Diluted Earnings per Share	$0.96	$2.31	$1.94	$0.96	$1.19	$2.71	$2.29	$1.19	$1.42	$2.83
Weighted Average Diluted Shares Outstanding	31.39M	32.24M	30.64M	30.29M	29.91M	30.15M	29.64M	29.42M	29.16M	29.27M
Weighted Average Basic & Diluted Shares Outstanding	31.15M	31.04M	30.73M	30.27M	30.01M	30.02M	29.74M	29.46M	29.15M	28.72M

This table details how cash moves in and out of Grand Canyon Education's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-35	32	117	-66	-59	123	355	-481	26	178
Net Cash From Operating Activities	185	238	305	199	306	309	313	221	244	290
Net Cash From Continuing Operating Activities	185	238	305	199	306	309	313	221	244	290
Net Income / (Loss) Continuing Operations	131	149	203	229	259	257	260	185	205	226
Consolidated Net Income / (Loss)	131	149	203	229	259	257	260	185	205	226
Depreciation Expense	36	46	54	36	19	21	22	23	24	28
Amortization Expense	-	-	-	0.00	8.22	8.42	8.42	8.42	8.42	8.42
Non-Cash Adjustments To Reconcile Net Income	32	32	35	43	14	11	7.20	13	13	15
Changes in Operating Assets and Liabilities, net	-14	11	12	-108	6.32	11	15	-8.53	-6.06	12
Net Cash From Investing Activities	-201	-216	-152	-238	-406	-19	951	-97	-80	61
Net Cash From Continuing Investing Activities	-201	-216	-152	-238	-406	-19	951	-97	-80	61
Purchase of Property, Plant & Equipment	-205	-178	-114	-95	-22	-29	-29	-35	-45	-37
Purchase of Investments	-48	-49	-94	-47	-9.38	0.00	-56	-172	-99	-49
Sale and/or Maturity of Investments	66	72	66	65	157	86	1,227	110	64	148
Other Investing Activities, net	-14	-61	-10	-162	-170	-76	-191	-0.40	-0.90	-0.41
Net Cash From Financing Activities	-19	11	-36	-27	40	-166	-909	-604	-137	-173
Net Cash From Continuing Financing Activities	-19	11	-36	-27	40	-166	-909	-604	-137	-173
Repurchase of Common Equity	-16	-20	-11	-25	-44	-134	-804	-604	-137	-173
Cash Interest Paid	1.24	1.22	2.25	1.51	12	4.31	3.70	0.00	0.03	0.00
Cash Income Taxes Paid	76	66	70	78	60	68	62	49	59	65

This table details how cash moves in and out of Grand Canyon Education's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-100	81	-15	38	-86	90	50	45	22	61
Net Cash From Operating Activities	-36	110	63	94	-30	116	85	99	-29	136
Net Cash From Continuing Operating Activities	-36	110	63	94	-30	116	85	99	-29	136
Net Income / (Loss) Continuing Operations	30	71	60	29	36	81	68	35	41	82
Consolidated Net Income / (Loss)	30	71	60	29	36	81	68	35	41	82
Depreciation Expense	5.67	5.74	5.54	5.40	6.06	6.56	6.65	6.93	7.13	7.43
Amortization Expense	2.11	2.10	2.11	2.11	2.11	2.10	2.11	2.11	2.11	2.10
Non-Cash Adjustments To Reconcile Net Income	3.51	3.00	3.78	3.69	2.36	2.94	3.28	3.75	3.09	5.34
Changes in Operating Assets and Liabilities, net	-77	28	-7.99	54	-76	24	4.92	51	-83	39
Net Cash From Investing Activities	-16	-1.82	-37	-11	-22	-9.94	-5.26	-15	91	-9.93
Net Cash From Continuing Investing Activities	-16	-1.82	-37	-11	-22	-9.94	-5.26	-15	91	-9.93
Purchase of Property, Plant & Equipment	-11	-8.93	-8.59	-9.01	-17	-10	-8.98	-8.95	-9.57	-9.75
Other Investing Activities, net	-0.18	-0.10	-0.24	-0.24	-0.32	-0.09	-0.07	-0.10	-0.06	-0.19
Net Cash From Financing Activities	-48	-28	-41	-45	-34	-17	-30	-39	-40	-65
Net Cash From Continuing Financing Activities	-48	-28	-41	-45	-34	-17	-30	-39	-40	-65
Repurchase of Common Equity	-48	-28	-41	-45	-34	-17	-30	-39	-40	-65
Cash Income Taxes Paid	2.28	7.46	0.23	42	5.19	11	0.30	44	7.20	14

This table presents Grand Canyon Education's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	892	1,092	1,304	1,324	1,690	1,845	1,223	833	930	1,018
Total Current Assets	215	230	375	309	208	334	681	273	338	420
Cash & Equivalents	23	46	153	120	122	246	601	120	146	325
Short-Term Investments	83	63	89	69	22	11	0.00	61	98	0.00
Accounts Receivable	8.30	9.54	11	47	49	62	70	77	79	83
Current Deferred & Refundable Income Taxes	3.95	4.69	2.09	0.01	2.19	1.29	1.28	2.79	1.32	0.49
Other Current Assets	21	22	25	6.96	8.04	8.64	8.77	11	13	12
Plant, Property, & Equipment, net	667	856	922	111	120	129	136	148	170	177
Total Noncurrent Assets	9.60	6.90	6.43	904	1,362	1,382	406	412	423	422
Goodwill	2.94	2.94	2.94	2.94	161	161	161	161	161	161
Intangible Assets	-	-	-	-	202	194	185	177	168	160
Other Noncurrent Operating Assets	6.66	3.96	3.49	0.48	29	63	60	74	94	101
Total Liabilities & Shareholders' Equity	892	1,092	1,304	1,324	1,690	1,845	1,223	833	930	1,018
Total Liabilities	282	319	318	110	247	270	178	195	212	235
Total Current Liabilities	189	227	238	81	95	119	98	100	97	111
Accounts Payable	35	25	29	14	15	17	24	20	18	27
Accrued Expenses	14	21	21	8.91	17	22	28	22	27	30
Current Deferred & Payable Income Tax Liabilities	0.03	2.73	16	5.44	6.58	5.41	5.90	12	10	8.56
Current Employee Benefit Liabilities	18	20	23	15	21	34	33	36	31	33
Other Current Liabilities	-	-	-	-	3.08	7.39	7.43	8.65	11	13
Total Noncurrent Liabilities	93	92	79	30	152	152	80	95	115	124
Noncurrent Deferred & Payable Income Tax Liabilities	15	24	18	6.47	18	20	26	26	27	27
Other Noncurrent Operating Liabilities	4.30	1.69	1.20	-	26	57	54	69	89	97
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	610	774	986	1,214	1,443	1,574	1,045	638	718	784
Total Preferred & Common Equity	610	774	986	1,214	1,443	1,574	1,045	638	718	784
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	610	774	986	1,214	1,443	1,574	1,045	638	718	784
Common Stock	178	213	233	257	271	283	297	310	323	337
Retained Earnings	502	651	854	1,082	1,341	1,595	1,855	2,040	2,245	2,471
Treasury Stock	-69	-89	-101	-125	-169	-303	-1,107	-1,711	-1,850	-2,024
Accumulated Other Comprehensive Income / (Loss)	-0.49	-0.91	-0.72	-0.45	-	-	0.00	-0.53	-0.06	0.00

This table presents Grand Canyon Education's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	785	874	846	863	1,036	993	993
Total Current Assets	223	316	280	275	444	390	393
Cash & Equivalents	40	105	143	57	196	241	264
Short-Term Investments	68	89	90	98	94	100	0.00
Accounts Receivable	101	103	25	104	112	29	116
Current Deferred & Refundable Income Taxes	3.59	2.96	9.04	3.77	0.04	5.50	1.82
Other Current Assets	10	16	12	12	42	13	12
Plant, Property, & Equipment, net	145	150	155	165	172	174	176
Total Noncurrent Assets	416	408	412	424	419	429	423
Goodwill	161	161	161	161	161	161	161
Intangible Assets	179	175	173	170	166	164	162
Other Noncurrent Operating Assets	77	72	79	93	92	104	100
Total Liabilities & Shareholders' Equity	785	874	846	863	1,036	993	993
Total Liabilities	193	215	201	213	276	233	229
Total Current Liabilities	96	120	100	100	160	107	107
Accounts Payable	19	22	23	24	30	22	28
Accrued Expenses	29	32	30	34	58	32	33
Current Deferred Revenue	6.10	9.68	9.11	6.24	10	7.22	6.42
Current Deferred & Payable Income Tax Liabilities	0.04	27	0.08	0.09	26	0.09	0.13
Current Employee Benefit Liabilities	33	21	29	25	25	34	26
Other Current Liabilities	-	8.82	9.34	11	11	12	12
Total Noncurrent Liabilities	97	95	100	113	116	126	122
Noncurrent Deferred & Payable Income Tax Liabilities	26	28	27	27	28	27	26
Other Noncurrent Operating Liabilities	0.44	67	73	86	88	99	96
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	592	659	645	651	759	759	764
Total Preferred & Common Equity	592	659	645	651	759	759	764
Total Common Equity	592	659	645	651	759	759	764
Common Stock	307	313	316	320	327	331	334
Retained Earnings	1,969	2,099	2,128	2,164	2,313	2,348	2,389
Treasury Stock	-1,683	-1,753	-1,799	-1,833	-1,880	-1,919	-1,959
Accumulated Other Comprehensive Income / (Loss)	-0.42	-0.41	-0.69	-0.59	-0.11	-0.13	0.00

This table displays calculated financial ratios and metrics derived from Grand Canyon Education's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.61%	12.23%	11.54%	-13.20%	-7.91%	8.41%	6.22%	1.64%	5.44%	7.50%
EBITDA Growth	17.00%	14.98%	19.12%	-12.81%	-0.60%	5.15%	1.80%	-14.05%	4.67%	10.92%
EBIT Growth	16.34%	12.76%	19.20%	-8.70%	2.70%	4.64%	1.71%	-15.84%	4.95%	10.49%
NOPAT Growth	17.92%	12.80%	35.91%	1.59%	5.07%	-1.03%	3.53%	-17.63%	7.72%	8.70%
Net Income Growth	17.89%	13.01%	36.90%	12.64%	13.17%	-0.76%	1.22%	-29.07%	11.00%	10.37%
EPS Growth	17.30%	13.31%	33.97%	12.09%	13.53%	1.49%	8.62%	-3.21%	18.67%	13.68%
Operating Cash Flow Growth	10.83%	28.46%	28.24%	-34.70%	53.88%	0.81%	1.39%	-29.48%	10.34%	19.00%
Free Cash Flow Firm Growth	-561.90%	59.73%	954.62%	-161.00%	-98.86%	213.72%	425.68%	-85.80%	4.87%	27.34%
Invested Capital Growth	54.79%	33.07%	5.43%	42.95%	40.85%	-1.02%	-68.85%	2.66%	3.86%	-3.02%
Revenue Q/Q Growth	3.45%	3.40%	2.82%	-9.99%	4.81%	3.06%	1.48%	0.81%	2.08%	1.40%
EBITDA Q/Q Growth	5.06%	6.07%	4.81%	-6.69%	3.93%	5.41%	1.73%	-4.13%	2.91%	1.00%
EBIT Q/Q Growth	4.78%	6.06%	5.46%	-4.16%	0.69%	5.84%	1.84%	-4.70%	2.94%	0.82%
NOPAT Q/Q Growth	4.50%	6.70%	10.88%	-1.78%	0.99%	4.48%	1.98%	-5.24%	4.40%	0.23%
Net Income Q/Q Growth	3.97%	7.12%	11.08%	3.28%	0.44%	4.08%	-0.63%	-7.09%	4.96%	0.52%
EPS Q/Q Growth	4.12%	6.78%	10.76%	3.05%	0.56%	5.01%	3.68%	4.56%	6.25%	1.58%
Operating Cash Flow Q/Q Growth	3.24%	3.67%	3.56%	51.39%	2.91%	6.02%	-7.26%	2.85%	2.54%	7.18%
Free Cash Flow Firm Q/Q Growth	-104.97%	43.51%	7.55%	42.58%	24.10%	-9.10%	377.37%	-83.77%	-29.72%	9.20%
Invested Capital Q/Q Growth	16.98%	11.21%	12.00%	-0.21%	-4.25%	-2.18%	-68.78%	-18.96%	-4.56%	-8.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	57.64%	46.27%	47.37%	55.29%	71.28%	72.21%	72.21%	70.01%	68.54%	68.69%
EBITDA Margin	31.62%	32.39%	34.59%	34.75%	37.51%	36.38%	34.87%	29.48%	29.27%	30.20%
Operating Margin	27.03%	27.16%	29.03%	30.53%	34.05%	32.87%	31.47%	26.06%	25.94%	26.66%
EBIT Margin	27.03%	27.16%	29.03%	30.53%	34.05%	32.87%	31.47%	26.06%	25.94%	26.66%
Profit (Net Income) Margin	16.89%	17.01%	20.87%	27.09%	33.29%	30.47%	29.04%	20.26%	21.33%	21.90%
Tax Burden Percent	62.87%	62.90%	71.71%	79.79%	81.63%	77.20%	78.59%	76.91%	78.94%	77.66%
Interest Burden Percent	99.36%	99.55%	100.27%	111.18%	119.75%	120.08%	117.40%	101.10%	104.18%	105.78%
Effective Tax Rate	37.13%	37.10%	28.29%	20.21%	18.37%	22.80%	21.41%	23.09%	21.06%	22.34%
Return on Invested Capital (ROIC)	31.52%	25.11%	29.10%	23.71%	17.58%	14.95%	23.72%	40.59%	42.34%	45.86%
ROIC Less NNEP Spread (ROIC-NNEP)	32.21%	25.80%	28.79%	13.74%	-26.41%	-41.60%	13.43%	40.08%	38.48%	41.52%
Return on Net Nonoperating Assets (RNNOA)	-7.33%	-3.65%	-5.99%	-2.88%	1.93%	2.10%	-3.84%	-18.64%	-12.10%	-15.73%
Return on Equity (ROE)	24.19%	21.46%	23.11%	20.82%	19.51%	17.05%	19.88%	21.95%	30.24%	30.13%
Cash Return on Invested Capital (CROIC)	-11.49%	-3.27%	23.81%	-11.65%	-16.35%	15.97%	128.71%	37.97%	38.55%	48.92%
Operating Return on Assets (OROA)	25.53%	23.91%	23.60%	19.65%	17.59%	15.70%	18.40%	23.11%	28.27%	28.26%
Return on Assets (ROA)	15.95%	14.97%	16.97%	17.43%	17.20%	14.55%	16.98%	17.97%	23.25%	23.22%
Return on Common Equity (ROCE)	24.19%	21.46%	23.11%	20.82%	19.51%	17.05%	19.88%	21.95%	30.24%	30.13%
Return on Equity Simple (ROE_SIMPLE)	21.53%	19.20%	20.62%	18.87%	17.96%	16.34%	24.91%	28.96%	28.55%	28.86%
Net Operating Profit after Tax (NOPAT)	132	149	203	206	216	214	222	183	197	214
NOPAT Margin	17.00%	17.08%	20.81%	24.36%	27.80%	25.38%	24.73%	20.04%	20.48%	20.70%
Net Nonoperating Expense Percent (NNEP)	-0.69%	-0.69%	0.30%	9.97%	43.99%	56.55%	10.29%	0.51%	3.86%	4.34%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	28.65%	27.40%	27.28%
Cost of Revenue to Revenue	42.36%	53.73%	52.64%	44.71%	28.72%	27.79%	27.79%	29.99%	31.46%	31.31%
SG&A Expenses to Revenue	5.41%	3.22%	2.79%	3.54%	5.69%	5.14%	4.67%	4.99%	4.50%	4.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	30.61%	19.11%	18.34%	24.76%	37.23%	39.35%	40.73%	43.95%	42.60%	42.03%
Earnings before Interest and Taxes (EBIT)	210	237	283	258	265	277	282	238	249	275
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	246	283	337	294	292	307	313	269	281	312
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.10	3.58	4.37	3.81	3.20	2.77	3.29	5.16	5.52	6.09
Price to Tangible Book Value (P/TBV)	3.11	3.59	4.38	3.82	4.27	3.58	4.91	10.97	10.19	10.31
Price to Revenue (P/Rev)	2.43	3.17	4.42	5.47	5.93	5.17	3.83	3.61	4.12	4.62
Price to Earnings (P/E)	14.39	18.63	21.19	20.21	17.82	16.96	13.19	17.82	19.33	21.10
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.95%	5.37%	4.72%	4.95%	5.61%	5.90%	7.58%	5.61%	5.17%	4.74%
Enterprise Value to Invested Capital (EV/IC)	3.51	3.94	5.64	4.34	3.21	2.96	6.38	6.82	7.85	9.69
Enterprise Value to Revenue (EV/Rev)	2.30	3.06	4.14	5.25	5.93	4.99	3.16	3.41	3.87	4.31
Enterprise Value to EBITDA (EV/EBITDA)	7.28	9.44	11.98	15.10	15.81	13.72	9.07	11.57	13.22	14.26
Enterprise Value to EBIT (EV/EBIT)	8.51	11.26	14.28	17.19	17.41	15.19	10.04	13.09	14.92	16.16
Enterprise Value to NOPAT (EV/NOPAT)	13.54	17.91	19.91	21.54	21.33	19.67	12.78	17.02	18.90	20.80
Enterprise Value to Operating Cash Flow (EV/OCF)	9.68	11.24	13.24	22.28	15.07	13.65	9.05	14.08	15.26	15.35
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	24.34	0.00	0.00	18.41	2.36	18.20	20.75	19.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.13	0.13	0.07	0.05	0.10	0.07	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.12	0.09	0.06	0.02	0.07	0.05	0.00	0.00	0.00	0.00
Financial Leverage	-0.23	-0.14	-0.21	-0.21	-0.07	-0.05	-0.29	-0.47	-0.31	-0.38
Leverage Ratio	1.52	1.43	1.36	1.19	1.13	1.17	1.17	1.22	1.30	1.30
Compound Leverage Factor	1.51	1.43	1.37	1.33	1.36	1.41	1.37	1.24	1.36	1.37
Debt to Total Capital	11.76%	11.27%	6.33%	4.70%	8.89%	6.41%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	1.06%	3.63%	0.64%	2.86%	2.09%	1.97%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	10.71%	7.64%	5.69%	1.84%	6.80%	4.44%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	88.24%	88.73%	93.67%	95.30%	91.11%	93.59%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.33	0.35	0.20	0.20	0.48	0.35	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-0.41	-0.34	-0.80	-0.65	-0.01	-0.48	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.30	0.24	0.18	0.08	0.37	0.24	0.00	0.00	0.00	0.00
Debt to NOPAT	0.62	0.66	0.33	0.29	0.65	0.50	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-0.76	-0.64	-1.33	-0.93	-0.02	-0.69	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.56	0.45	0.30	0.11	0.50	0.35	0.00	0.00	0.00	0.00
Altman Z-Score	6.50	7.56	10.64	27.78	13.40	11.99	15.79	15.83	16.80	17.88
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.14	1.01	1.57	3.84	2.19	2.81	6.95	2.74	3.48	3.78
Quick Ratio	0.61	0.52	1.07	2.99	2.08	2.73	6.85	2.60	3.33	3.67
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-48	-19	166	-101	-201	229	1,203	171	179	228
Operating Cash Flow to CapEx	90.41%	133.73%	268.43%	210.61%	1,368.16%	1,049.78%	1,084.39%	626.76%	547.10%	778.45%
Free Cash Flow to Firm to Interest Expense	-38.63	-14.62	76.49	-65.89	-17.79	51.99	334.11	85,425.87	5,429.31	57,037.93
Operating Cash Flow to Interest Expense	148.30	179.04	140.57	129.61	27.08	70.16	86.95	110,409.50	7,383.70	72,489.50
Operating Cash Flow Less CapEx to Interest Expense	-15.74	45.16	88.20	68.07	25.10	63.47	78.93	92,793.50	6,034.09	63,177.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.94	0.88	0.81	0.64	0.52	0.48	0.58	0.89	1.09	1.06
Accounts Receivable Turnover	97.87	97.93	95.29	29.29	16.26	15.19	13.56	12.36	12.30	12.77
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.36	1.15	1.10	1.64	6.75	6.80	6.77	6.43	6.06	5.96
Accounts Payable Turnover	11.38	15.73	19.00	17.42	15.36	14.93	12.19	12.34	16.05	14.57
Days Sales Outstanding (DSO)	3.73	3.73	3.83	12.46	22.45	24.03	26.92	29.53	29.67	28.58
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	32.08	23.20	19.21	20.96	23.76	24.45	29.95	29.59	22.75	25.05
Cash Conversion Cycle (CCC)	-28.35	-19.47	-15.38	-8.50	-1.31	-0.42	-3.03	-0.05	6.92	3.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	510	678	715	1,022	1,440	1,425	444	456	474	459
Invested Capital Turnover	1.85	1.47	1.40	0.97	0.63	0.59	0.96	2.03	2.07	2.22
Increase / (Decrease) in Invested Capital	180	169	37	307	418	-15	-981	12	18	-14
Enterprise Value (EV)	1,791	2,671	4,038	4,436	4,616	4,214	2,834	3,109	3,718	4,449
Market Capitalization	1,891	2,767	4,308	4,628	4,619	4,363	3,435	3,291	3,963	4,774
Book Value per Share	$12.95	$16.35	$20.49	$25.21	$29.93	$33.60	$26.08	$20.47	$23.93	$26.89
Tangible Book Value per Share	$12.88	$16.28	$20.43	$25.15	$22.41	$26.04	$17.44	$9.63	$12.96	$15.89
Total Capital	692	872	1,053	1,274	1,584	1,682	1,045	638	718	784
Total Debt	81	98	67	60	141	108	0.00	0.00	0.00	0.00
Total Long-Term Debt	74	67	60	23	108	75	0.00	0.00	0.00	0.00
Net Debt	-100	-95	-271	-191	-3.26	-149	-601	-182	-245	-325
Capital Expenditures (CapEx)	205	178	114	95	22	29	29	35	45	37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-148	-159	-194	14	2.09	-8.44	-18	-8.14	-4.02	-16
Debt-free Net Working Capital (DFNWC)	34	35	143	265	146	248	583	174	240	309
Net Working Capital (NWC)	26	3.27	137	229	113	215	583	174	240	309
Net Nonoperating Expense (NNE)	0.85	0.68	-0.56	-23	-43	-43	-39	-2.01	-8.22	-12
Net Nonoperating Obligations (NNO)	-100	-95	-271	-191	-3.26	-149	-601	-182	-245	-325
Total Depreciation and Amortization (D&A)	36	46	54	36	27	30	30	31	32	37
Debt-free, Cash-free Net Working Capital to Revenue	-19.03%	-18.16%	-19.90%	1.70%	0.27%	-1.00%	-1.99%	-0.89%	-0.42%	-1.51%
Debt-free Net Working Capital to Revenue	4.33%	4.00%	14.72%	31.39%	18.78%	29.40%	65.04%	19.05%	25.03%	29.91%
Net Working Capital to Revenue	3.39%	0.37%	14.04%	27.08%	14.53%	25.47%	65.04%	19.05%	25.03%	29.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.86	$3.22	$4.31	$4.81	$5.42	$0.00	$5.94	$5.75	$6.83	$7.77
Adjusted Weighted Average Basic Shares Outstanding	45.98M	46.08M	47.14M	47.61M	47.81M	0.00	43.84M	32.13M	29.99M	29.10M
Adjusted Diluted Earnings per Share	$2.78	$3.15	$4.22	$4.73	$5.37	$0.00	$5.92	$5.73	$6.80	$7.73
Adjusted Weighted Average Diluted Shares Outstanding	47.28M	47.12M	48.24M	48.41M	48.27M	0.00	43.96M	32.24M	30.15M	29.27M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	46.49M	47.74M	48.29M	48.24M	48.17M	0.00	35.33M	31.04M	30.02M	28.72M
Normalized Net Operating Profit after Tax (NOPAT)	132	149	203	206	216	214	222	183	197	215
Normalized NOPAT Margin	17.00%	17.08%	20.81%	24.36%	27.80%	25.38%	24.73%	20.04%	20.48%	20.85%
Pre Tax Income Margin	26.86%	27.04%	29.11%	33.94%	40.78%	39.47%	36.95%	26.35%	27.02%	28.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	168.56	178.62	130.36	168.07	23.44	63.03	78.36	118,750.00	7,553.21	68,849.75
NOPAT to Interest Expense	105.98	112.34	93.48	134.11	19.13	48.66	61.58	91,330.37	5,962.43	53,468.43
EBIT Less CapEx to Interest Expense	4.52	44.74	77.99	106.52	21.46	56.34	70.35	101,134.00	6,203.61	59,537.75
NOPAT Less CapEx to Interest Expense	-58.06	-21.53	41.11	72.57	17.15	41.97	53.56	73,714.37	4,612.83	44,156.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	11.84%	13.51%	5.56%	10.81%	16.94%	52.11%	308.76%	327.18%	66.89%	76.55%

This table displays calculated financial ratios and metrics derived from Grand Canyon Education's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.94%	2.91%	2.45%	5.42%	6.32%	7.57%	9.82%	8.02%	7.38%	5.13%
EBITDA Growth	-18.33%	-10.52%	-3.72%	3.30%	14.81%	8.07%	13.54%	20.50%	15.51%	2.91%
EBIT Growth	-21.63%	-11.45%	-3.86%	4.72%	16.97%	7.85%	13.43%	20.53%	15.98%	2.28%
NOPAT Growth	-18.58%	-12.56%	-0.03%	6.70%	14.08%	11.91%	12.49%	17.82%	13.86%	0.58%
Net Income Growth	-37.03%	-16.55%	2.56%	13.34%	19.10%	13.63%	14.18%	20.38%	16.03%	1.45%
EPS Growth	-11.11%	12.14%	16.87%	20.00%	23.96%	17.32%	18.04%	23.96%	19.33%	4.43%
Operating Cash Flow Growth	-2,383.89%	5.88%	-10.33%	24.13%	16.19%	5.47%	34.86%	4.71%	1.56%	16.70%
Free Cash Flow Firm Growth	1,158.27%	-94.52%	-90.36%	-93.17%	-88.76%	4.38%	-35.45%	-65.31%	-66.27%	53.21%
Invested Capital Growth	-60.46%	2.66%	-7.33%	-10.70%	-11.82%	3.86%	0.87%	1.29%	0.90%	-3.02%
Revenue Q/Q Growth	4.49%	23.95%	-3.31%	-15.81%	5.38%	25.40%	-1.30%	-17.19%	4.76%	22.78%
EBITDA Q/Q Growth	4.11%	127.59%	-16.64%	-47.70%	15.71%	114.22%	-12.42%	-44.49%	10.93%	90.85%
EBIT Q/Q Growth	4.93%	155.34%	-17.87%	-52.41%	17.20%	135.44%	-13.62%	-49.43%	12.77%	107.63%
NOPAT Q/Q Growth	16.13%	138.17%	-17.28%	-53.36%	24.16%	133.63%	-16.85%	-51.15%	19.98%	106.38%
Net Income Q/Q Growth	17.39%	136.69%	-16.14%	-51.36%	23.35%	125.83%	-15.73%	-48.72%	18.89%	97.46%
EPS Q/Q Growth	20.00%	140.63%	-16.02%	-50.52%	23.96%	127.73%	-15.50%	-48.03%	19.33%	99.30%
Operating Cash Flow Q/Q Growth	-146.97%	409.80%	-42.91%	49.41%	-131.71%	489.89%	-27.00%	16.01%	-129.81%	562.20%
Free Cash Flow Firm Q/Q Growth	-20.50%	-93.46%	62.68%	-19.32%	30.94%	-39.26%	0.60%	-56.65%	27.31%	175.93%
Invested Capital Q/Q Growth	21.92%	-18.96%	1.93%	-11.33%	20.40%	-4.56%	-1.00%	-10.96%	19.93%	-8.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	67.79%	71.96%	70.68%	65.62%	66.73%	70.26%	69.82%	65.66%	67.62%	70.84%
EBITDA Margin	20.74%	38.08%	32.83%	20.40%	22.40%	38.26%	33.94%	22.75%	24.09%	37.45%
Operating Margin	17.01%	35.05%	29.78%	16.83%	18.72%	35.14%	30.76%	18.78%	20.22%	34.19%
EBIT Margin	17.01%	35.05%	29.78%	16.83%	18.72%	35.14%	30.76%	18.78%	20.22%	34.19%
Profit (Net Income) Margin	14.38%	27.46%	23.81%	13.76%	16.11%	29.00%	24.76%	15.33%	17.40%	27.99%
Tax Burden Percent	82.76%	77.20%	77.75%	76.19%	80.72%	80.10%	77.10%	74.48%	79.24%	78.77%
Interest Burden Percent	102.10%	101.47%	102.87%	107.29%	106.59%	103.03%	104.41%	109.62%	108.62%	103.92%
Effective Tax Rate	17.24%	22.80%	22.25%	23.81%	19.28%	19.90%	22.90%	25.52%	20.76%	21.23%
Return on Invested Capital (ROIC)	12.82%	54.80%	43.96%	27.25%	26.87%	58.21%	50.07%	33.81%	32.75%	59.65%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.64%	54.53%	43.13%	26.21%	24.46%	57.09%	48.88%	32.74%	31.17%	58.56%
Return on Net Nonoperating Assets (RNNOA)	0.02%	-25.36%	-12.61%	-7.93%	-3.61%	-17.95%	-16.72%	-13.41%	-9.21%	-22.19%
Return on Equity (ROE)	12.84%	29.43%	31.34%	19.33%	23.26%	40.26%	33.35%	20.40%	23.54%	37.46%
Cash Return on Invested Capital (CROIC)	106.07%	37.97%	45.41%	53.50%	48.16%	38.55%	42.84%	49.05%	41.93%	48.92%
Operating Return on Assets (OROA)	12.48%	31.08%	30.48%	19.13%	21.39%	38.30%	31.74%	20.47%	22.19%	36.24%
Return on Assets (ROA)	10.55%	24.34%	24.37%	15.63%	18.40%	31.61%	25.56%	16.72%	19.10%	29.67%
Return on Common Equity (ROCE)	12.84%	29.43%	31.34%	19.33%	23.26%	40.26%	33.35%	20.40%	23.54%	37.46%
Return on Equity Simple (ROE_SIMPLE)	33.60%	0.00%	28.24%	29.37%	30.02%	0.00%	28.10%	28.89%	29.45%	0.00%
Net Operating Profit after Tax (NOPAT)	29	70	58	27	34	78	65	32	38	79
NOPAT Margin	14.08%	27.06%	23.15%	12.82%	15.11%	28.15%	23.71%	13.99%	16.02%	26.93%
Net Nonoperating Expense Percent (NNEP)	17.46%	0.26%	0.83%	1.04%	2.41%	1.11%	1.18%	1.06%	1.58%	1.09%
Return On Investment Capital (ROIC_SIMPLE)	-	10.98%	-	-	-	10.91%	-	-	-	10.05%
Cost of Revenue to Revenue	32.21%	28.04%	29.32%	34.38%	33.27%	29.74%	30.18%	34.34%	32.38%	29.16%
SG&A Expenses to Revenue	7.46%	3.93%	3.91%	5.16%	5.49%	3.74%	3.91%	4.68%	6.03%	3.61%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	50.77%	36.91%	40.90%	48.79%	48.01%	35.12%	39.07%	46.88%	47.40%	36.65%
Earnings before Interest and Taxes (EBIT)	36	91	74	35	42	98	84	43	48	100
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	43	99	82	43	50	106	93	52	57	110
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.44	5.16	5.36	4.91	5.44	5.52	5.38	5.48	5.47	6.09
Price to Tangible Book Value (P/TBV)	10.44	10.97	10.92	10.16	11.08	10.19	9.45	9.58	9.47	10.31
Price to Revenue (P/Rev)	2.91	3.61	3.85	3.42	3.76	4.12	4.15	4.15	4.10	4.62
Price to Earnings (P/E)	13.23	17.82	18.99	16.73	18.12	19.33	19.15	18.97	18.57	21.10
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.56%	5.61%	5.27%	5.98%	5.52%	5.17%	5.22%	5.27%	5.39%	4.74%
Enterprise Value to Invested Capital (EV/IC)	4.62	6.82	7.19	7.13	6.82	7.85	8.10	9.15	7.82	9.69
Enterprise Value to Revenue (EV/Rev)	2.88	3.41	3.64	3.17	3.60	3.87	3.85	3.81	3.84	4.31
Enterprise Value to EBITDA (EV/EBITDA)	9.28	11.57	12.58	11.01	12.38	13.22	12.99	12.68	12.68	14.26
Enterprise Value to EBIT (EV/EBIT)	10.43	13.09	14.25	12.44	13.98	14.92	14.65	14.33	14.33	16.16
Enterprise Value to NOPAT (EV/NOPAT)	13.49	17.02	18.29	15.94	17.96	18.90	18.61	18.30	18.35	20.80
Enterprise Value to Operating Cash Flow (EV/OCF)	12.11	14.08	15.64	12.67	14.24	15.26	14.29	14.14	14.47	15.35
Enterprise Value to Free Cash Flow (EV/FCFF)	2.47	18.20	15.23	12.57	13.27	20.75	18.99	18.77	18.74	19.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-0.47	-0.29	-0.30	-0.15	-0.31	-0.34	-0.41	-0.30	-0.38
Leverage Ratio	1.24	1.22	1.31	1.30	1.33	1.30	1.35	1.31	1.31	1.30
Compound Leverage Factor	1.26	1.24	1.35	1.40	1.41	1.34	1.41	1.44	1.43	1.35
Debt to Total Capital	11.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	10.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	88.18%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.28	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-0.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.25	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.41	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-0.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	13.18	15.25	14.84	14.49	14.99	16.26	13.56	15.50	15.86	17.31
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.34	2.74	2.64	2.78	2.76	3.48	2.78	3.63	3.69	3.78
Quick Ratio	2.19	2.60	2.48	2.57	2.60	3.33	2.51	3.45	3.57	3.67
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	889	58	95	76	100	61	61	26	34	93
Operating Cash Flow to CapEx	-319.02%	1,235.57%	733.66%	1,044.49%	-179.97%	1,124.38%	946.24%	1,100.77%	-307.12%	1,393.42%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	4,982.41	10,910.27	100,003.92	10,123.65	30,554.66	13,246.45	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	3,315.74	13,447.00	-29,851.00	19,397.50	42,481.50	49,281.50	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	2,863.79	12,159.57	-46,438.00	17,672.33	37,992.00	44,804.50	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.89	1.02	1.14	1.14	1.09	1.03	1.09	1.10	1.06
Accounts Receivable Turnover	9.21	12.36	8.97	36.82	9.15	12.30	9.20	37.03	9.22	12.77
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.47	6.43	6.39	6.31	6.08	6.06	6.11	6.10	5.98	5.96
Accounts Payable Turnover	8.93	12.34	10.85	13.93	13.74	16.05	12.08	14.02	12.40	14.57
Days Sales Outstanding (DSO)	39.64	29.53	40.70	9.91	39.87	29.67	39.68	9.86	39.57	28.58
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	40.89	29.59	33.63	26.19	26.57	22.75	30.21	26.04	29.45	25.05
Cash Conversion Cycle (CCC)	-1.25	-0.05	7.07	-16.28	13.30	6.92	9.47	-16.18	10.12	3.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	563	456	465	412	496	474	469	417	501	459
Invested Capital Turnover	0.91	2.03	1.90	2.13	1.78	2.07	2.11	2.42	2.04	2.22
Increase / (Decrease) in Invested Capital	-860	12	-37	-49	-66	18	4.03	5.32	4.45	-14
Enterprise Value (EV)	2,600	3,109	3,341	2,938	3,384	3,718	3,797	3,819	3,915	4,449
Market Capitalization	2,629	3,291	3,535	3,171	3,539	3,963	4,088	4,161	4,179	4,774
Book Value per Share	$18.51	$20.47	$21.24	$21.01	$21.49	$23.93	$25.78	$25.53	$25.94	$26.89
Tangible Book Value per Share	$7.88	$9.63	$10.43	$10.16	$10.55	$12.96	$14.68	$14.60	$14.98	$15.89
Total Capital	671	638	659	645	651	718	759	759	764	784
Total Debt	79	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	71	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-29	-182	-195	-233	-154	-245	-291	-342	-264	-325
Capital Expenditures (CapEx)	11	8.93	8.59	9.01	17	10	8.98	8.95	9.57	9.75
Debt-free, Cash-free Net Working Capital (DFCFNWC)	28	-8.14	1.71	-54	21	-4.02	-6.37	-59	23	-16
Debt-free Net Working Capital (DFNWC)	136	174	196	179	175	240	284	282	287	309
Net Working Capital (NWC)	128	174	196	179	175	240	284	282	287	309
Net Nonoperating Expense (NNE)	-0.62	-1.03	-1.66	-1.97	-2.21	-2.37	-2.87	-3.06	-3.29	-3.09
Net Nonoperating Obligations (NNO)	-29	-182	-195	-233	-154	-245	-291	-342	-264	-325
Total Depreciation and Amortization (D&A)	7.78	7.84	7.64	7.51	8.16	8.66	8.76	9.03	9.23	9.53
Debt-free, Cash-free Net Working Capital to Revenue	3.09%	-0.89%	0.19%	-5.85%	2.21%	-0.42%	-0.65%	-5.93%	2.28%	-1.51%
Debt-free Net Working Capital to Revenue	15.07%	19.05%	21.39%	19.30%	18.61%	25.03%	28.85%	28.17%	28.16%	29.91%
Net Working Capital to Revenue	14.12%	19.05%	21.39%	19.30%	18.61%	25.03%	28.85%	28.17%	28.16%	29.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.96	$2.32	$1.96	$0.96	$1.20	$2.71	$2.31	$1.19	$1.43	$2.84
Adjusted Weighted Average Basic Shares Outstanding	31.30M	32.13M	30.46M	30.18M	29.78M	29.99M	29.46M	29.29M	29.00M	29.10M
Adjusted Diluted Earnings per Share	$0.96	$2.31	$1.94	$0.96	$1.19	$2.71	$2.29	$1.19	$1.42	$2.83
Adjusted Weighted Average Diluted Shares Outstanding	31.39M	32.24M	30.64M	30.29M	29.91M	30.15M	29.64M	29.42M	29.16M	29.27M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	31.15M	31.04M	30.73M	30.27M	30.01M	30.02M	29.74M	29.46M	29.15M	28.72M
Normalized Net Operating Profit after Tax (NOPAT)	29	70	58	27	34	78	65	32	38	79
Normalized NOPAT Margin	14.08%	27.06%	23.15%	12.82%	15.11%	28.15%	23.71%	13.99%	16.02%	26.93%
Pre Tax Income Margin	17.37%	35.57%	30.63%	18.06%	19.95%	36.21%	32.11%	20.59%	21.96%	35.53%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	3,919.84	5,063.14	41,538.00	16,299.83	42,239.00	21,359.50	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	3,047.62	3,857.84	33,528.92	13,055.82	32,568.16	15,908.45	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	3,467.89	3,775.71	24,951.00	14,574.67	37,749.50	16,882.50	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	2,595.68	2,570.41	16,941.92	11,330.65	28,078.66	11,431.45	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	513.11%	327.18%	132.09%	85.85%	75.93%	66.89%	58.97%	54.38%	55.61%	76.55%

Frequently Asked Questions About Grand Canyon Education's Financials

When does Grand Canyon Education's fiscal year end?

According to the most recent income statement we have on file, Grand Canyon Education's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Grand Canyon Education's net income changed over the last 9 years?

Grand Canyon Education's net income appears to be on an upward trend, with a most recent value of $226.23 million in 2024, rising from $131.41 million in 2015. The previous period was $204.99 million in 2023.

What is Grand Canyon Education's operating income?

Grand Canyon Education's total operating income in 2024 was $275.40 million, based on the following breakdown:

Total Gross Profit: $709.52 million
Total Operating Expenses: $434.12 million

How has Grand Canyon Education revenue changed over the last 9 years?

Over the last 9 years, Grand Canyon Education's total revenue changed from $778.20 million in 2015 to $1.03 billion in 2024, a change of 32.7%.

How much debt does Grand Canyon Education have?

Grand Canyon Education's total liabilities were at $234.57 million at the end of 2024, a 10.4% increase from 2023, and a 16.7% decrease since 2015.

How much cash does Grand Canyon Education have?

In the past 9 years, Grand Canyon Education's cash and equivalents has ranged from $23.04 million in 2015 to $600.94 million in 2021, and is currently $324.62 million as of their latest financial filing in 2024.

How has Grand Canyon Education's book value per share changed over the last 9 years?

Over the last 9 years, Grand Canyon Education's book value per share changed from 12.95 in 2015 to 26.89 in 2024, a change of 107.7%.

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This page (NASDAQ:LOPE) was last updated on 4/24/2025 by MarketBeat.com Staff

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Grand Canyon Education (LOPE) Financials

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Grand Canyon Education (LOPE) Financials

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