LOPE FY 2016 Earnings Report — Grand Canyon Education, Inc. Revenue & Financial Results | Market Cap Arena

Grand Canyon Education, Inc.LOPE

FY 2016 Earnings

Reported February 16, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$873M	—	$778M	—	12.2%
Op. Income	$237M	—	$210M	—	12.8%
Gross Margin	41.8%	—	57.6%	—	-15.8pp
Net Margin	17.0%	—	16.9%	—	0.1pp
EPS (Diluted)	$3.15	—	$2.78	—	13.3%
Free Cash Flow	-$21M	—	-$44M	—	53.3%

Revenue Flow

Item	Amount
REVENUE	$873M
Cost of Revenue	$508M
GROSS PROFIT	$365M
R&D Expenses	$0
Selling & Marketing	$97M
General & Administrative	$163M
SG&A Expenses	$260M
Other Expenses	$1M
Operating Expenses	$128M
Cost & Expenses	$636M
OPERATING INCOME	$237M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$236M
Income Tax Expense	$88M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$46M
EBIT	$237M
EBITDA	$283M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$873M
Cost of Revenue	$508M
GROSS PROFIT	$365M
R&D Expenses	$0
Selling & Marketing	$97M
General & Administrative	$163M
SG&A Expenses	$260M
Other Expenses	$1M
Operating Expenses	$128M
Cost & Expenses	$636M
OPERATING INCOME	$237M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$236M
Income Tax Expense	$88M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$46M
EBIT	$237M
EBITDA	$283M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$149M
Depreciation & Amortization	$46M
Stock-Based Compensation	$12M
Deferred Income Tax	$8M
Other Non-Cash Items	$10M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$218M
Capital Expenditure	-$239M
Acquisitions (Net)	$2M
Purchases of Investments	-$49M
Sales/Maturities of Investments	$70M
Other Investing Activities	$501.0K
NET CASH FROM INVESTING	-$216M
Net Debt Issuance	$18M
Common Stock Repurchased	-$20M
Common Dividends Paid	$0
Other Financing Activities	$13M
NET CASH FROM FINANCING	$21M
FREE CASH FLOW	-$21M
Net Change in Cash	$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$46M
Short-Term Investments	$63M
Net Receivables	$14M
Inventory	$85M
Other Current Assets	$112M
TOTAL CURRENT ASSETS	$230M
PP&E (Net)	$856M
Goodwill	$3M
Intangible Assets	$0
Long-Term Investments	-$21M
Tax Assets	$24M
Other Non-Current Assets	$897.0K
TOTAL NON-CURRENT ASSETS	$862M
TOTAL ASSETS	$1.1B
Account Payables	$25M
Short-Term Debt	$32M
Deferred Revenue	$127M
Other Current Liabilities	$131M
TOTAL CURRENT LIABILITIES	$227M
Long-Term Debt	$67M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$24M
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$92M
TOTAL LIABILITIES	$319M
Common Stock	$515.0K
Additional Paid-In Capital	$213M
Retained Earnings	$651M
Treasury Stock	-$89M
Accum. Other Comp. Income	-$910.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$774M
Minority Interest	$0
TOTAL EQUITY	$774M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$98M
Net Debt	$52M