LOPE FY 2015 Earnings Report — Grand Canyon Education, Inc. Revenue & Financial Results | Market Cap Arena

Grand Canyon Education, Inc.LOPE

FY 2015 Earnings

Reported February 17, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$778M	—	$691M	—	12.6%
Op. Income	$210M	—	$181M	—	16.3%
Gross Margin	57.6%	—	58.2%	—	-0.6pp
Net Margin	16.9%	—	16.1%	—	0.8pp
EPS (Diluted)	$2.78	—	$2.37	—	17.3%
Free Cash Flow	-$44M	—	-$2M	—	-2591.0%

Revenue Flow

Item	Amount
REVENUE	$778M
Cost of Revenue	$330M
GROSS PROFIT	$449M
R&D Expenses	$0
Selling & Marketing	$84M
General & Administrative	$155M
SG&A Expenses	$238M
Other Expenses	$0
Operating Expenses	$238M
Cost & Expenses	$568M
OPERATING INCOME	$210M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$209M
Income Tax Expense	$78M
Net Income from Continuing Ops	$131M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$131M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$131M
D&A	$36M
EBIT	$210M
EBITDA	$246M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$778M
Cost of Revenue	$330M
GROSS PROFIT	$449M
R&D Expenses	$0
Selling & Marketing	$84M
General & Administrative	$155M
SG&A Expenses	$238M
Other Expenses	$0
Operating Expenses	$238M
Cost & Expenses	$568M
OPERATING INCOME	$210M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$209M
Income Tax Expense	$78M
Net Income from Continuing Ops	$131M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$131M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$131M
D&A	$36M
EBIT	$210M
EBITDA	$246M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$131M
Depreciation & Amortization	$36M
Stock-Based Compensation	$11M
Deferred Income Tax	$5M
Other Non-Cash Items	$17M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$174M
Capital Expenditure	-$218M
Acquisitions (Net)	-$157M
Purchases of Investments	-$48M
Sales/Maturities of Investments	$66M
Other Investing Activities	$157M
NET CASH FROM INVESTING	-$201M
Net Debt Issuance	-$7M
Common Stock Repurchased	-$16M
Common Dividends Paid	$0
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$15M
FREE CASH FLOW	-$44M
Net Change in Cash	-$42M

Balance Sheet

Item	Amount
Cash & Equivalents	$23M
Short-Term Investments	$83M
Net Receivables	$12M
Inventory	$82M
Other Current Assets	$96M
TOTAL CURRENT ASSETS	$221M
PP&E (Net)	$667M
Goodwill	$3M
Intangible Assets	$0
Long-Term Investments	-$3M
Tax Assets	$6M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$677M
TOTAL ASSETS	$898M
Account Payables	$34M
Short-Term Debt	$7M
Deferred Revenue	$115M
Other Current Liabilities	$78M
TOTAL CURRENT LIABILITIES	$189M
Long-Term Debt	$73M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$21M
Other Non-Current Liabilities	$4M
TOTAL NON-CURRENT LIABILITIES	$100M
TOTAL LIABILITIES	$288M
Common Stock	$503.0K
Additional Paid-In Capital	$177M
Retained Earnings	$502M
Treasury Stock	-$69M
Accum. Other Comp. Income	-$489.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$610M
Minority Interest	$0
TOTAL EQUITY	$610M
TOTAL LIABILITIES & EQUITY	$898M
Total Debt	$81M
Net Debt	$58M