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Income Statement
Balance Sheet
Cash Flow Statement

Common Size IS
Op Efficiency
Credit Analysis

Grand Canyon Education, Inc. (LOPE)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14
   10-K10-K10-K10-K10-K10-K10-K10-K
Revenues  896.6844.1778.6845.5974.1873.3778.2691.1
            Revenue growth  6.2%8.4%-7.9%-13.2%11.5%12.2%12.6%15.5%
Cost of goods sold  381.3350.5318.1440.0555.1509.5329.7288.8
Gross profit  515.3493.6460.6405.5419.0363.9448.5402.3
            Gross margin  57.5%58.5%59.1%48.0%43.0%41.7%57.6%58.2%
Selling, general and administrative   [+]224.7207.7187.2147.4136.2126.7118.3105.4
Other operating expenses        119.9116.0
EBITDA   [+]312.6307.1292.1293.8337.0282.9246.0210.3
            EBITDA margin  34.9%36.4%37.5%34.8%34.6%32.4%31.6%30.4%
Depreciation  22.021.218.735.754.245.735.729.5
EBITA  290.6285.9273.4258.1282.8237.2210.4180.8
            EBITA margin  32.4%33.9%35.1%30.5%29.0%27.2%27.0%26.2%
Amortization of intangibles  8.48.48.2     
EBIT   [+]282.2277.4265.1258.1282.8237.2210.4180.8
            EBIT margin  31.5%32.9%34.1%30.5%29.0%27.2%27.0%26.2%
Interest expense, net   [+]3.03.56.9-1.9-0.81.11.11.1
Other income (expense), net  52.159.259.326.9  -0.2 
Pre-tax income  331.3333.1317.5287.0283.5236.1209.0179.7
Income taxes  70.975.958.358.080.287.677.668.2
            Tax rate  21.4%22.8%18.4%20.2%28.3%37.1%37.1%38.0%
Net income  260.3257.2259.2229.0203.3148.5131.4111.5
            Net margin  29.0%30.5%33.3%27.1%20.9%17.0%16.9%16.1%
   
Basic EPS   [+]$5.94$5.49$5.42$4.81$4.31$3.22$2.86$2.45
Diluted EPS   [+]$5.92$5.45$5.37$4.73$4.22$3.15$2.78$2.37
   
Shares outstanding (basic)   [+]43.846.947.847.647.146.146.045.5
Shares outstanding (diluted)   [+]44.047.248.348.448.247.147.347.0
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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