$5.1 B

LOPE Mkt cap, 14-Dec-2018

$155.5 M

Grand Canyon Education Revenue Q3, 2018
Grand Canyon Education Net income (Q3, 2018)33.8 M
Grand Canyon Education EBIT (Q3, 2018)29.4 M
Grand Canyon Education Cash, 30-Sep-201844.9 M

Grand Canyon Education Income Statement

Annual

usdFY, 2010FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

385.6m598.3m691.1m778.2m873.3m974.1m

Revenue growth, %

15%13%12%

Sales and marketing expense

76.2m88.2m98.6m

General and administrative expense

36.9m42.1m43.2m43.8m

Operating expense total

455.1m567.8m636.1m691.4m

EBIT

143.3m180.8m210.4m237.2m282.8m

EBIT margin, %

24%26%27%27%29%

Interest expense

889.0k2.2m1.8m1.2m1.3m2.2m

Interest income

3.9m

Pre tax profit

144.9m53.5m209.0m236.1m283.5m

Income tax expense

22.2m56.2m68.2m77.6m87.6m80.2m

Net Income

88.7m111.5m131.4m148.5m203.3m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

152.4m167.4m158.6m175.1m194.1m174.7m193.4m227.0m191.3m210.4m248.2m218.3m236.2m275.7m236.8m155.5m

Sales and marketing expense

15.5m16.7m15.8m16.5m20.0m18.4m19.4m21.1m22.1m23.9m24.6m24.8m25.5m25.7m27.6m

General and administrative expense

9.0m8.6m9.0m11.6m9.4m9.5m12.5m10.7m8.8m13.4m9.9m10.1m12.9m11.3m12.0m10.1m

Operating expense total

115.1m124.0m120.7m129.1m138.1m132.5m144.4m158.3m146.5m163.4m171.6m163.2m176.5m185.6m178.3m126.0m

EBIT

37.3m43.4m37.9m46.0m56.0m42.3m49.0m68.7m44.7m47.1m76.6m55.1m59.7m90.1m58.5m29.4m

EBIT margin, %

24%26%24%26%29%24%25%30%23%22%31%25%25%33%25%19%

Interest expense

528.0k523.0k356.0k576.0k375.0k146.0k313.0k329.0k158.0k344.0k580.0k495.0k567.0k346.0k57.0k558.0k

Interest income

127.0k201.0k2.0m293.0k2.3m2.0k739.0k1.4m981.0k1.6m

Pre tax profit

38.3m43.1m37.7m45.4m55.9m42.2m48.9m70.4m44.9m44.4m76.1m55.3m60.6m90.7m60.0m42.5m

Income tax expense

15.7m16.8m14.7m16.4m21.7m16.5m15.5m26.7m17.3m15.2m20.1m15.5m21.3m17.0m14.0m8.7m

Net Income

22.5m26.3m23.1m29.0m34.2m25.8m33.3m43.7m27.6m29.2m55.9m39.8m39.3m73.7m46.0m33.8m

Grand Canyon Education Balance Sheet

Annual

usdY, 2009Y, 2010Y, 2011Y, 2012FY, 2013Y, 2013Y, 2014FY, 2015Y, 2015FY, 2016FY, 2017

Cash

62.6m33.6m21.2m105.1m55.8m55.8m65.2m23.0m23.0m46.0m153.5m

Accounts Receivable

7.2m7.2m7.6m8.3m8.3m10.0m10.9m

Inventories

Current Assets

263.7m263.7m267.0m221.3m221.3m230.1m374.9m

PP&E

339.6m339.6m478.2m667.5m667.5m855.5m922.3m

Goodwill

2.9m2.9m2.9m2.9m2.9m2.9m2.9m

Total Assets

616.1m616.1m755.7m898.4m898.4m1.1b1.3b

Accounts Payable

24.2m24.2m22.7m34.1m34.1m24.8m29.1m

Short-term debt

89.0k89.0k91.0k697.0k697.0k697.0k

Current Liabilities

165.6m165.6m178.7m188.5m188.5m226.8m238.1m

Long-term debt

Total Debt

89.0k697.0k697.0k

Total Liabilities

271.3m288.2m318.8m317.6m

Additional Paid-in Capital

132.9m132.9m158.5m177.2m177.2m212.6m232.7m

Retained Earnings

259.5m259.5m371.0m502.4m502.4m650.9m854.2m

Total Equity

344.8m344.8m476.2m610.3m610.3m773.7m986.0m

Debt to Equity Ratio

0 x

Debt to Assets Ratio

0 x

Financial Leverage

1.8 x1.8 x1.6 x1.5 x1.5 x1.4 x1.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

106.8m39.1m20.2m56.5m86.2m50.7m78.2m48.8m44.6m75.1m88.5m66.3m180.1m242.8m221.6m44.9m

Accounts Receivable

7.4m8.5m8.3m6.7m8.2m9.5m7.5m9.1m10.4m9.0m10.9m12.2m9.5m65.1m

Current Assets

252.5m277.9m261.1m275.2m278.1m231.1m263.2m226.1m200.2m232.1m277.9m272.8m386.8m435.4m1.3b255.2m

PP&E

328.4m365.5m416.2m469.3m527.7m588.3m639.6m725.1m794.0m832.7m870.3m888.2m897.5m950.2m112.2m110.9m

Goodwill

2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m2.9m

Total Assets

594.1m655.3m688.5m755.5m815.6m828.9m912.6m960.7m1.0b1.1b1.2b1.2b1.3b1.4b1.4b1.3b

Accounts Payable

22.9m28.0m33.3m32.9m34.3m36.4m41.5m38.0m39.3m28.9m24.1m22.5m27.5m36.1m35.4m17.0m

Short-term debt

89.0k90.0k90.0k91.0k92.0k518.0k495.0k160.0k160.0k160.0k

Current Liabilities

174.4m169.3m179.9m218.3m202.4m189.5m238.8m222.7m233.1m266.1m235.1m204.9m285.1m261.7m223.8m54.9m

Total Debt

89.0k90.0k90.0k91.0k92.0k518.0k495.0k160.0k160.0k160.0k

Total Liabilities

279.8m274.4m281.3m316.0m302.4m285.6m333.0m316.5m324.7m355.5m328.7m296.3m375.2m341.0m299.7m114.3m

Additional Paid-in Capital

128.4m146.9m151.5m154.6m165.7m170.2m173.3m186.8m195.3m203.5m218.7m224.7m228.9m237.1m241.2m251.8m

Retained Earnings

285.8m308.9m337.9m405.2m430.9m464.3m546.1m573.7m602.9m706.8m746.6m785.9m926.7m972.9m1.0b

Total Equity

314.3m380.9m407.3m439.5m513.2m543.3m579.6m644.2m680.3m716.8m826.5m872.2m915.7m1.1b1.1b1.1b

Debt to Equity Ratio

0 x0 x0 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x0 x0 x

Financial Leverage

1.9 x1.7 x1.7 x1.7 x1.6 x1.5 x1.6 x1.5 x1.5 x1.5 x1.4 x1.3 x1.4 x1.3 x1.3 x1.1 x

Grand Canyon Education Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

88.7m111.5m131.4m148.5m203.3m

Depreciation and Amortization

25.4m29.5m35.7m45.7m54.2m

Accounts Receivable

(19.2m)(15.0m)(17.3m)(20.3m)(19.8m)

Inventories

Accounts Payable

8.6m(2.4m)5.0m(4.8m)5.4m

Cash From Operating Activities

118.4m167.0m173.9m218.3m304.9m

Cash From Investing Activities

(172.5m)(161.0m)(200.9m)(216.0m)(152.1m)

Cash From Financing Activities

4.8m3.4m(15.2m)20.7m(35.7m)

Interest Paid

2.2m1.8m1.2m1.2m2.3m

Income Taxes Paid

59.9m48.8m75.6m66.2m69.6m

Free Cash Flow

39.5m335.6m(30.8m)40.0m191.3m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

62.6m26.3m49.4m78.4m34.2m60.0m93.3m43.7m71.3m100.5m55.9m95.8m135.1m73.7m119.7m153.5m

Depreciation and Amortization

18.6m6.9m14.0m21.4m8.2m16.4m25.4m10.5m21.2m32.7m13.3m26.9m40.5m13.9m28.0m31.8m

Accounts Receivable

(14.9m)(4.0m)(8.4m)(11.9m)(3.1m)(8.0m)(13.3m)(3.7m)(8.7m)(14.9m)(3.4m)(8.8m)(15.6m)(3.6m)(7.8m)(7.8m)

Accounts Payable

1.9m(1.7m)(1.2m)(3.0m)(165.0k)(1.1m)1.4m(7.0m)(2.4m)(3.8m)1.0m(1.7m)4.0m563.0k(1.4m)(11.9m)

Cash From Operating Activities

101.8m53.7m89.4m156.7m68.2m81.7m169.0m96.3m114.0m214.5m109.7m133.7m269.9m119.0m143.7m96.5m

Cash From Investing Activities

(104.5m)(76.3m)(130.1m)(159.9m)(46.0m)(94.7m)(152.9m)(56.0m)(106.7m)(166.0m)(48.6m)(86.7m)(112.1m)(38.5m)(67.4m)(215.7m)

Cash From Financing Activities

4.5m5.9m5.0m3.8m(1.3m)(1.5m)(3.1m)(14.5m)14.2m3.7m(33.1m)(32.2m)(33.0m)(12.8m)(14.7m)(22.3m)

Interest Paid

1.6m535.0k916.0k1.3m386.0k534.0k849.0k332.0k481.0k791.0k674.0k1.2m1.6m321.0k379.0k738.0k

Income Taxes Paid

44.1m372.0k14.9m29.2m6.8m40.0m54.4m1.7m40.2m50.8m438.0k31.7m45.4m375.0k44.2m69.2m

Free Cash Flow

42.6m26.5m7.4m15.5m22.5m(30.2m)(696.0k)46.5m(1.6m)56.9m87.9m83.2m194.3m83.8m64.8m6.4m

Grand Canyon Education Ratios

USDY, 2018

Financial Leverage

1.1 x
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Grand Canyon Education Operating Metrics

FY, 2014FY, 2015FY, 2016

Online Courses People Enrolled

55.06 k59.31 k64.65 k

Students

67.80 k74.50 k81.90 k
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Grand Canyon Education Employee Rating

3.5675 votes
Culture & Values
3.5
Work/Life Balance
3.5
Senior Management
3.1
Salary & Benefits
3.3
Career Opportunities
3.1
Source