Grand Canyon Education (LOPE) Financials

$197.49 +2.13 (+1.09%)

Closing price 05/30/2025 04:00 PM Eastern

Extended Trading

$197.84 +0.35 (+0.18%)

As of 05/30/2025 04:21 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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	226	205	185	260	257	259	229	203	149	131
Consolidated Net Income / (Loss)	226	205	185	260	257	259	229	203	149	131
Net Income / (Loss) Continuing Operations	226	205	185	260	257	259	229	203	149	131
Total Pre-Tax Income	291	260	240	331	333	318	287	284	236	209
Total Operating Income	275	249	238	282	277	265	258	283	237	210
Total Gross Profit	710	659	638	647	610	555	467	461	404	449
Total Revenue	1,033	961	911	897	844	779	846	974	873	778
Operating Revenue	1,033	961	911	897	844	779	846	974	873	778
Total Cost of Revenue	323	302	273	249	235	224	378	513	469	330
Operating Cost of Revenue	323	302	273	249	235	224	378	513	469	330
Total Operating Expenses	434	409	400	365	332	290	209	179	167	238
Selling, General & Admin Expense	46	43	45	42	43	44	30	27	28	42
Marketing Expense	212	203	196	183	164	143	117	109	99	84
Amortization Expense	8.42	8.42	8.42	8.42	8.42	8.22	0.00	-	-	-
Other Operating Expenses / (Income)	165	155	150	132	116	94	62	42	40	113
Impairment Charge	1.90	0.00	0.00	-	-	-	-	-	-	-
Total Other Income / (Expense), net	16	10	2.62	49	56	52	29	0.77	-1.08	-1.35
Interest Expense	0.00	0.03	0.00	3.60	4.40	11	1.54	2.17	1.33	1.25
Interest & Investment Income	16	10	2.62	53	60	64	30	2.94	0.25	-0.11
Income Tax Expense	65	55	55	71	76	58	58	80	88	78
Basic Earnings per Share	$7.77	$6.83	$5.75	$5.94	$5.49	$5.42	$4.81	$4.31	$3.22	$2.86
Weighted Average Basic Shares Outstanding	29.10M	29.99M	32.13M	43.84M	46.88M	47.81M	47.61M	47.14M	46.08M	45.98M
Diluted Earnings per Share	$7.73	$6.80	$5.73	$5.92	$5.45	$5.37	$4.73	$4.22	$3.15	$2.78
Weighted Average Diluted Shares Outstanding	29.27M	30.15M	32.24M	43.96M	47.17M	48.27M	48.41M	48.24M	47.12M	47.28M
Weighted Average Basic & Diluted Shares Outstanding	28.72M	30.02M	31.04M	35.33M	46.87M	48.17M	47.60M	47.20M	46.10M	45.90M

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	72	82	41	35	68	81	36	29	60	71	30
Consolidated Net Income / (Loss)	72	82	41	35	68	81	36	29	60	71	30
Net Income / (Loss) Continuing Operations	72	82	41	35	68	81	36	29	60	71	30
Total Pre-Tax Income	91	104	52	47	88	101	44	38	77	92	36
Total Operating Income	88	100	48	43	84	98	42	35	74	91	36
Total Gross Profit	202	207	161	149	192	196	148	138	177	186	141
Total Revenue	289	293	238	227	275	278	222	211	250	259	209
Operating Revenue	289	293	238	227	275	278	222	211	250	259	209
Total Cost of Revenue	87	85	77	78	83	83	74	72	73	73	67
Operating Cost of Revenue	87	85	77	78	83	83	74	72	73	73	67
Total Operating Expenses	114	107	113	107	107	98	107	103	102	95	106
Selling, General & Admin Expense	10	11	14	11	11	10	12	11	9.79	10	16
Marketing Expense	60	50	55	53	55	46	53	51	53	45	51
Amortization Expense	2.11	2.10	2.11	2.11	2.11	2.10	2.11	2.11	2.11	2.10	2.11
Other Operating Expenses / (Income)	42	43	42	41	39	39	39	39	38	38	38
Total Other Income / (Expense), net	3.38	3.93	4.15	4.11	3.73	2.96	2.74	2.58	2.13	1.33	0.75
Interest Expense	0.00	-	0.00	0.00	0.00	0.01	0.00	0.01	0.02	-0.00	0.00
Interest & Investment Income	3.38	3.93	4.15	4.11	3.73	2.97	2.74	2.59	2.15	1.33	0.75
Income Tax Expense	20	22	11	12	20	20	8.54	9.05	17	21	6.25
Basic Earnings per Share	$2.53	$2.84	$1.43	$1.19	$2.31	$2.71	$1.20	$0.96	$1.96	$2.32	$0.96
Weighted Average Basic Shares Outstanding	28.28M	29.10M	29.00M	29.29M	29.46M	29.99M	29.78M	30.18M	30.46M	32.13M	31.30M
Diluted Earnings per Share	$2.52	$2.83	$1.42	$1.19	$2.29	$2.71	$1.19	$0.96	$1.94	$2.31	$0.96
Weighted Average Diluted Shares Outstanding	28.47M	29.27M	29.16M	29.42M	29.64M	30.15M	29.91M	30.29M	30.64M	32.24M	31.39M
Weighted Average Basic & Diluted Shares Outstanding	28.37M	28.72M	29.15M	29.46M	29.74M	30.02M	30.01M	30.27M	30.73M	31.04M	31.15M

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	178	26	-481	355	123	-59	-66	117	32	-35
Net Cash From Operating Activities	290	244	221	313	309	306	199	305	238	185
Net Cash From Continuing Operating Activities	290	244	221	313	309	306	199	305	238	185
Net Income / (Loss) Continuing Operations	226	205	185	260	257	259	229	203	149	131
Consolidated Net Income / (Loss)	226	205	185	260	257	259	229	203	149	131
Depreciation Expense	28	24	23	22	21	19	36	54	46	36
Amortization Expense	8.42	8.42	8.42	8.42	8.42	8.22	0.00	-	-	-
Non-Cash Adjustments To Reconcile Net Income	15	13	13	7.20	11	14	43	35	32	32
Changes in Operating Assets and Liabilities, net	12	-6.06	-8.53	15	11	6.32	-108	12	11	-14
Net Cash From Investing Activities	61	-80	-97	951	-19	-406	-238	-152	-216	-201
Net Cash From Continuing Investing Activities	61	-80	-97	951	-19	-406	-238	-152	-216	-201
Purchase of Property, Plant & Equipment	-37	-45	-35	-29	-29	-22	-95	-114	-178	-205
Purchase of Investments	-49	-99	-172	-56	0.00	-9.38	-47	-94	-49	-48
Sale and/or Maturity of Investments	148	64	110	1,227	86	157	65	66	72	66
Other Investing Activities, net	-0.41	-0.90	-0.40	-191	-76	-170	-162	-10	-61	-14
Net Cash From Financing Activities	-173	-137	-604	-909	-166	40	-27	-36	11	-19
Net Cash From Continuing Financing Activities	-173	-137	-604	-909	-166	40	-27	-36	11	-19
Repurchase of Common Equity	-173	-137	-604	-804	-134	-44	-25	-11	-20	-16
Cash Interest Paid	0.00	0.03	0.00	3.70	4.31	12	1.51	2.25	1.22	1.24
Cash Income Taxes Paid	65	59	49	62	68	60	78	70	66	76

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-180	61	22	45	50	90	-86	38	-15	81	-100
Net Cash From Operating Activities	68	136	-29	99	85	116	-30	94	63	110	-36
Net Cash From Continuing Operating Activities	68	136	-29	99	85	116	-30	94	63	110	-36
Net Income / (Loss) Continuing Operations	72	82	41	35	68	81	36	29	60	71	30
Consolidated Net Income / (Loss)	72	82	41	35	68	81	36	29	60	71	30
Depreciation Expense	7.45	7.43	7.13	6.93	6.65	6.56	6.06	5.40	5.54	5.74	5.67
Amortization Expense	2.11	2.10	2.11	2.11	2.11	2.10	2.11	2.11	2.11	2.10	2.11
Non-Cash Adjustments To Reconcile Net Income	3.42	5.34	3.09	3.75	3.28	2.94	2.36	3.69	3.78	3.00	3.51
Changes in Operating Assets and Liabilities, net	-17	39	-83	51	4.92	24	-76	54	-7.99	28	-77
Net Cash From Investing Activities	-170	-9.93	91	-15	-5.26	-9.94	-22	-11	-37	-1.82	-16
Net Cash From Continuing Investing Activities	-170	-9.93	91	-15	-5.26	-9.94	-22	-11	-37	-1.82	-16
Purchase of Property, Plant & Equipment	-8.95	-9.75	-9.57	-8.95	-8.98	-10	-17	-9.01	-8.59	-8.93	-11
Purchase of Investments	-161	-	-	-29	-19	-25	0.35	-21	-53	-39	-41
Sale and/or Maturity of Investments	0.00	-	101	24	23	26	-5.91	20	24	47	36
Other Investing Activities, net	-0.02	-0.19	-0.06	-0.10	-0.07	-0.09	-0.32	-0.24	-0.24	-0.10	-0.18
Net Cash From Financing Activities	-78	-65	-40	-39	-30	-17	-34	-45	-41	-28	-48
Net Cash From Continuing Financing Activities	-78	-65	-40	-39	-30	-17	-34	-45	-41	-28	-48
Repurchase of Common Equity	-78	-65	-40	-39	-30	-17	-34	-45	-41	-28	-48
Cash Interest Paid	0.00	-	-	0.00	0.00	0.01	0.00	0.01	0.02	-0.00	-
Cash Income Taxes Paid	0.33	14	7.20	44	0.30	11	5.19	42	0.23	7.46	2.28

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

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,031	993	993	1,036	863	846	874	785
Total Current Assets	436	393	390	444	275	280	316	223
Cash & Equivalents	145	264	241	196	57	143	105	40
Short-Term Investments	160	0.00	100	94	98	90	89	68
Accounts Receivable	116	116	29	112	104	25	103	101
Current Deferred & Refundable Income Taxes	0.00	1.82	5.50	0.04	3.77	9.04	2.96	3.59
Other Current Assets	16	12	13	42	12	12	16	10
Plant, Property, & Equipment, net	178	176	174	172	165	155	150	145
Total Noncurrent Assets	417	423	429	419	424	412	408	416
Goodwill	161	161	161	161	161	161	161	161
Intangible Assets	158	162	164	166	170	173	175	179
Other Noncurrent Operating Assets	99	100	104	92	93	79	72	77
Total Liabilities & Shareholders' Equity	1,031	993	993	1,036	863	846	874	785
Total Liabilities	251	229	233	276	213	201	215	193
Total Current Liabilities	128	107	107	160	100	100	120	96
Accounts Payable	24	28	22	30	24	23	22	19
Accrued Expenses	35	33	32	58	34	30	32	29
Current Deferred Revenue	9.08	6.42	7.22	10	6.24	9.11	9.68	6.10
Current Deferred & Payable Income Tax Liabilities	24	0.13	0.09	26	0.09	0.08	27	0.04
Current Employee Benefit Liabilities	23	26	34	25	25	29	21	33
Other Current Liabilities	13	12	12	11	11	9.34	8.82	-
Total Noncurrent Liabilities	123	122	126	116	113	100	95	97
Noncurrent Deferred & Payable Income Tax Liabilities	29	26	27	28	27	27	28	26
Other Noncurrent Operating Liabilities	94	96	99	88	86	73	67	0.44
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	781	764	759	759	651	645	659	592
Total Preferred & Common Equity	781	764	759	759	651	645	659	592
Total Common Equity	781	764	759	759	651	645	659	592
Common Stock	341	334	331	327	320	316	313	307
Retained Earnings	2,543	2,389	2,348	2,313	2,164	2,128	2,099	1,969
Treasury Stock	-2,103	-1,959	-1,919	-1,880	-1,833	-1,799	-1,753	-1,683
Accumulated Other Comprehensive Income / (Loss)	-0.01	0.00	-0.13	-0.11	-0.59	-0.69	-0.41	-0.42

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

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

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.33%	5.13%	7.38%	8.02%	9.82%	7.57%	6.32%	5.42%	2.45%	2.91%	0.94%
EBITDA Growth	4.66%	2.91%	15.51%	20.50%	13.54%	8.07%	14.81%	3.30%	-3.72%	-10.52%	-18.33%
EBIT Growth	4.20%	2.28%	15.98%	20.53%	13.43%	7.85%	16.97%	4.72%	-3.86%	-11.45%	-21.63%
NOPAT Growth	5.88%	0.58%	13.86%	17.82%	12.49%	11.91%	14.08%	6.70%	-0.03%	-12.56%	-18.58%
Net Income Growth	5.31%	1.45%	16.03%	20.38%	14.18%	13.63%	19.10%	13.34%	2.56%	-16.55%	-37.03%
EPS Growth	10.04%	4.43%	19.33%	23.96%	18.04%	17.32%	23.96%	20.00%	16.87%	12.14%	-11.11%
Operating Cash Flow Growth	-20.40%	16.70%	1.56%	4.71%	34.86%	5.47%	16.19%	24.13%	-10.33%	5.88%	-2,383.89%
Free Cash Flow Firm Growth	0.92%	53.21%	-66.27%	-65.31%	-35.45%	4.38%	-88.76%	-93.17%	-90.36%	-94.52%	1,158.27%
Invested Capital Growth	1.56%	-3.02%	0.90%	1.29%	0.87%	3.86%	-11.82%	-10.70%	-7.33%	2.66%	-60.46%
Revenue Q/Q Growth	-1.12%	22.78%	4.76%	-17.19%	-1.30%	25.40%	5.38%	-15.81%	-3.31%	23.95%	4.49%
EBITDA Q/Q Growth	-10.93%	90.85%	10.93%	-44.49%	-12.42%	114.22%	15.71%	-47.70%	-16.64%	127.59%	4.11%
EBIT Q/Q Growth	-12.00%	107.63%	12.77%	-49.43%	-13.62%	135.44%	17.20%	-52.41%	-17.87%	155.34%	4.93%
NOPAT Q/Q Growth	-12.46%	106.38%	19.98%	-51.15%	-16.85%	133.63%	24.16%	-53.36%	-17.28%	138.17%	16.13%
Net Income Q/Q Growth	-12.53%	97.46%	18.89%	-48.72%	-15.73%	125.83%	23.35%	-51.36%	-16.14%	136.69%	17.39%
EPS Q/Q Growth	-10.95%	99.30%	19.33%	-48.03%	-15.50%	127.73%	23.96%	-50.52%	-16.02%	140.63%	20.00%
Operating Cash Flow Q/Q Growth	-50.20%	562.20%	-129.81%	16.01%	-27.00%	489.89%	-131.71%	49.41%	-42.91%	409.80%	-146.97%
Free Cash Flow Firm Q/Q Growth	-33.73%	175.93%	27.31%	-56.65%	0.60%	-39.26%	30.94%	-19.32%	62.68%	-93.46%	-20.50%
Invested Capital Q/Q Growth	3.66%	-8.26%	19.93%	-10.96%	-1.00%	-4.56%	20.40%	-11.33%	1.93%	-18.96%	21.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.99%	70.84%	67.62%	65.66%	69.82%	70.26%	66.73%	65.62%	70.68%	71.96%	67.79%
EBITDA Margin	33.73%	37.45%	24.09%	22.75%	33.94%	38.26%	22.40%	20.40%	32.83%	38.08%	20.74%
Operating Margin	30.43%	34.19%	20.22%	18.78%	30.76%	35.14%	18.72%	16.83%	29.78%	35.05%	17.01%
EBIT Margin	30.43%	34.19%	20.22%	18.78%	30.76%	35.14%	18.72%	16.83%	29.78%	35.05%	17.01%
Profit (Net Income) Margin	24.75%	27.99%	17.40%	15.33%	24.76%	29.00%	16.11%	13.76%	23.81%	27.46%	14.38%
Tax Burden Percent	78.35%	78.77%	79.24%	74.48%	77.10%	80.10%	80.72%	76.19%	77.75%	77.20%	82.76%
Interest Burden Percent	103.84%	103.92%	108.62%	109.62%	104.41%	103.03%	106.59%	107.29%	102.87%	101.47%	102.10%
Effective Tax Rate	21.65%	21.23%	20.76%	25.52%	22.90%	19.90%	19.28%	23.81%	22.25%	22.80%	17.24%
Return on Invested Capital (ROIC)	52.87%	59.65%	32.75%	33.81%	50.07%	58.21%	26.87%	27.25%	43.96%	54.80%	12.82%
ROIC Less NNEP Spread (ROIC-NNEP)	51.98%	58.56%	31.17%	32.74%	48.88%	57.09%	24.46%	26.21%	43.13%	54.53%	-4.64%
Return on Net Nonoperating Assets (RNNOA)	-20.09%	-22.19%	-9.21%	-13.41%	-16.72%	-17.95%	-3.61%	-7.93%	-12.61%	-25.36%	0.02%
Return on Equity (ROE)	32.78%	37.46%	23.54%	20.40%	33.35%	40.26%	23.26%	19.33%	31.34%	29.43%	12.84%
Cash Return on Invested Capital (CROIC)	44.54%	48.92%	41.93%	49.05%	42.84%	38.55%	48.16%	53.50%	45.41%	37.97%	106.07%
Operating Return on Assets (OROA)	30.84%	36.24%	22.19%	20.47%	31.74%	38.30%	21.39%	19.13%	30.48%	31.08%	12.48%
Return on Assets (ROA)	25.09%	29.67%	19.10%	16.72%	25.56%	31.61%	18.40%	15.63%	24.37%	24.34%	10.55%
Return on Common Equity (ROCE)	32.78%	37.46%	23.54%	20.40%	33.35%	40.26%	23.26%	19.33%	31.34%	29.43%	12.84%
Return on Equity Simple (ROE_SIMPLE)	29.44%	0.00%	29.45%	28.89%	28.10%	0.00%	30.02%	29.37%	28.24%	0.00%	33.60%
Net Operating Profit after Tax (NOPAT)	69	79	38	32	65	78	34	27	58	70	29
NOPAT Margin	23.84%	26.93%	16.02%	13.99%	23.71%	28.15%	15.11%	12.82%	23.15%	27.06%	14.08%
Net Nonoperating Expense Percent (NNEP)	0.89%	1.09%	1.58%	1.06%	1.18%	1.11%	2.41%	1.04%	0.83%	0.26%	17.46%
Return On Investment Capital (ROIC_SIMPLE)	8.83%	10.05%	-	-	-	10.91%	-	-	-	10.98%	-
Cost of Revenue to Revenue	30.01%	29.16%	32.38%	34.34%	30.18%	29.74%	33.27%	34.38%	29.32%	28.04%	32.21%
SG&A Expenses to Revenue	3.58%	3.61%	6.03%	4.68%	3.91%	3.74%	5.49%	5.16%	3.91%	3.93%	7.46%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.56%	36.65%	47.40%	46.88%	39.07%	35.12%	48.01%	48.79%	40.90%	36.91%	50.77%
Earnings before Interest and Taxes (EBIT)	88	100	48	43	84	98	42	35	74	91	36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	98	110	57	52	93	106	50	43	82	99	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.37	6.09	5.47	5.48	5.38	5.52	5.44	4.91	5.36	5.16	4.44
Price to Tangible Book Value (P/TBV)	10.76	10.31	9.47	9.58	9.45	10.19	11.08	10.16	10.92	10.97	10.44
Price to Revenue (P/Rev)	4.74	4.62	4.10	4.15	4.15	4.12	3.76	3.42	3.85	3.61	2.91
Price to Earnings (P/E)	21.62	21.10	18.57	18.97	19.15	19.33	18.12	16.73	18.99	17.82	13.23
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.62%	4.74%	5.39%	5.27%	5.22%	5.17%	5.52%	5.98%	5.27%	5.61%	7.56%
Enterprise Value to Invested Capital (EV/IC)	9.80	9.69	7.82	9.15	8.10	7.85	6.82	7.13	7.19	6.82	4.62
Enterprise Value to Revenue (EV/Rev)	4.45	4.31	3.84	3.81	3.85	3.87	3.60	3.17	3.64	3.41	2.88
Enterprise Value to EBITDA (EV/EBITDA)	14.75	14.26	12.68	12.68	12.99	13.22	12.38	11.01	12.58	11.57	9.28
Enterprise Value to EBIT (EV/EBIT)	16.72	16.16	14.33	14.33	14.65	14.92	13.98	12.44	14.25	13.09	10.43
Enterprise Value to NOPAT (EV/NOPAT)	21.43	20.80	18.35	18.30	18.61	18.90	17.96	15.94	18.29	17.02	13.49
Enterprise Value to Operating Cash Flow (EV/OCF)	17.11	15.35	14.47	14.14	14.29	15.26	14.24	12.67	15.64	14.08	12.11
Enterprise Value to Free Cash Flow (EV/FCFF)	22.17	19.50	18.74	18.77	18.99	20.75	13.27	12.57	15.23	18.20	2.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.13
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.12
Financial Leverage	-0.39	-0.38	-0.30	-0.41	-0.34	-0.31	-0.15	-0.30	-0.29	-0.47	0.00
Leverage Ratio	1.34	1.30	1.31	1.31	1.35	1.30	1.33	1.30	1.31	1.22	1.24
Compound Leverage Factor	1.39	1.35	1.43	1.44	1.41	1.34	1.41	1.40	1.35	1.24	1.26
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.82%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.28%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.55%
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%	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%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	88.18%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.28
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.10
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.25
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.41
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.15
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.37
Altman Z-Score	17.00	17.31	15.86	15.50	13.56	16.26	14.99	14.49	14.84	15.25	13.18
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.40	3.78	3.69	3.63	2.78	3.48	2.76	2.78	2.64	2.74	2.34
Quick Ratio	3.28	3.67	3.57	3.45	2.51	3.33	2.60	2.57	2.48	2.60	2.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	62	93	34	26	61	61	100	76	95	58	889
Operating Cash Flow to CapEx	755.82%	1,393.42%	-307.12%	1,100.77%	946.24%	1,124.38%	-179.97%	1,044.49%	733.66%	1,235.57%	-319.02%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	13,246.45	30,554.66	10,123.65	100,003.92	10,910.27	4,982.41	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	49,281.50	42,481.50	19,397.50	-29,851.00	13,447.00	3,315.74	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	44,804.50	37,992.00	17,672.33	-46,438.00	12,159.57	2,863.79	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	1.06	1.10	1.09	1.03	1.09	1.14	1.14	1.02	0.89	0.73
Accounts Receivable Turnover	9.21	12.77	9.22	37.03	9.20	12.30	9.15	36.82	8.97	12.36	9.21
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.99	5.96	5.98	6.10	6.11	6.06	6.08	6.31	6.39	6.43	6.47
Accounts Payable Turnover	12.15	14.57	12.40	14.02	12.08	16.05	13.74	13.93	10.85	12.34	8.93
Days Sales Outstanding (DSO)	39.61	28.58	39.57	9.86	39.68	29.67	39.87	9.91	40.70	29.53	39.64
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	30.05	25.05	29.45	26.04	30.21	22.75	26.57	26.19	33.63	29.59	40.89
Cash Conversion Cycle (CCC)	9.57	3.53	10.12	-16.18	9.47	6.92	13.30	-16.28	7.07	-0.05	-1.25
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	476	459	501	417	469	474	496	412	465	456	563
Invested Capital Turnover	2.22	2.22	2.04	2.42	2.11	2.07	1.78	2.13	1.90	2.03	0.91
Increase / (Decrease) in Invested Capital	7.30	-14	4.45	5.32	4.03	18	-66	-49	-37	12	-860
Enterprise Value (EV)	4,665	4,449	3,915	3,819	3,797	3,718	3,384	2,938	3,341	3,109	2,600
Market Capitalization	4,970	4,774	4,179	4,161	4,088	3,963	3,539	3,171	3,535	3,291	2,629
Book Value per Share	$27.18	$26.89	$25.94	$25.53	$25.78	$23.93	$21.49	$21.01	$21.24	$20.47	$18.51
Tangible Book Value per Share	$16.09	$15.89	$14.98	$14.60	$14.68	$12.96	$10.55	$10.16	$10.43	$9.63	$7.88
Total Capital	781	784	764	759	759	718	651	645	659	638	671
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	79
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	71
Net Debt	-305	-325	-264	-342	-291	-245	-154	-233	-195	-182	-29
Capital Expenditures (CapEx)	8.95	9.75	9.57	8.95	8.98	10	17	9.01	8.59	8.93	11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.58	-16	23	-59	-6.37	-4.02	21	-54	1.71	-8.14	28
Debt-free Net Working Capital (DFNWC)	308	309	287	282	284	240	175	179	196	174	136
Net Working Capital (NWC)	308	309	287	282	284	240	175	179	196	174	128
Net Nonoperating Expense (NNE)	-2.65	-3.09	-3.29	-3.06	-2.87	-2.37	-2.21	-1.97	-1.66	-1.03	-0.62
Net Nonoperating Obligations (NNO)	-305	-325	-264	-342	-291	-245	-154	-233	-195	-182	-29
Total Depreciation and Amortization (D&A)	9.56	9.53	9.23	9.03	8.76	8.66	8.16	7.51	7.64	7.84	7.78
Debt-free, Cash-free Net Working Capital to Revenue	0.34%	-1.51%	2.28%	-5.93%	-0.65%	-0.42%	2.21%	-5.85%	0.19%	-0.89%	3.09%
Debt-free Net Working Capital to Revenue	29.42%	29.91%	28.16%	28.17%	28.85%	25.03%	18.61%	19.30%	21.39%	19.05%	15.07%
Net Working Capital to Revenue	29.42%	29.91%	28.16%	28.17%	28.85%	25.03%	18.61%	19.30%	21.39%	19.05%	14.12%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.53	$2.84	$1.43	$1.19	$2.31	$2.71	$1.20	$0.96	$1.96	$2.32	$0.96
Adjusted Weighted Average Basic Shares Outstanding	28.28M	29.10M	29.00M	29.29M	29.46M	29.99M	29.78M	30.18M	30.46M	32.13M	31.30M
Adjusted Diluted Earnings per Share	$2.52	$2.83	$1.42	$1.19	$2.29	$2.71	$1.19	$0.96	$1.94	$2.31	$0.96
Adjusted Weighted Average Diluted Shares Outstanding	28.47M	29.27M	29.16M	29.42M	29.64M	30.15M	29.91M	30.29M	30.64M	32.24M	31.39M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.37M	28.72M	29.15M	29.46M	29.74M	30.02M	30.01M	30.27M	30.73M	31.04M	31.15M
Normalized Net Operating Profit after Tax (NOPAT)	69	79	38	32	65	78	34	27	58	70	29
Normalized NOPAT Margin	23.84%	26.93%	16.02%	13.99%	23.71%	28.15%	15.11%	12.82%	23.15%	27.06%	14.08%
Pre Tax Income Margin	31.59%	35.53%	21.96%	20.59%	32.11%	36.21%	19.95%	18.06%	30.63%	35.57%	17.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	21,359.50	42,239.00	16,299.83	41,538.00	5,063.14	3,919.84	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	15,908.45	32,568.16	13,055.82	33,528.92	3,857.84	3,047.62	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	16,882.50	37,749.50	14,574.67	24,951.00	3,775.71	3,467.89	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	11,431.45	28,078.66	11,330.65	16,941.92	2,570.41	2,595.68	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%	0.00%
Augmented Payout Ratio	96.18%	76.55%	55.61%	54.38%	58.97%	66.89%	75.93%	85.85%	132.09%	327.18%	513.11%

Frequently Asked Questions About Grand Canyon Education's Financials

When does Grand Canyon Education's financial year end?

According to the most recent income statement we have on file, Grand Canyon Education's fiscal year ends in December. Their fiscal 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. See where experts think Grand Canyon Education is headed by visiting Grand Canyon Education's forecast page.

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 6/1/2025 by MarketBeat.com Staff

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Grand Canyon Education (LOPE) Financials

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