LOPE FY 2017 Earnings Report — Grand Canyon Education, Inc. Revenue & Financial Results | Market Cap Arena

Grand Canyon Education, Inc.LOPE

FY 2017 Earnings

Reported February 21, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$974M	—	$873M	—	11.5%
Op. Income	$283M	—	$237M	—	19.2%
Gross Margin	43.1%	—	41.8%	—	1.3pp
Net Margin	20.9%	—	17.0%	—	3.9pp
EPS (Diluted)	$4.22	—	$3.15	—	34.0%
Free Cash Flow	$181M	—	-$21M	—	972.7%

Revenue Flow

Item	Amount
REVENUE	$974M
Cost of Revenue	$555M
GROSS PROFIT	$420M
R&D Expenses	$0
Selling & Marketing	$108M
General & Administrative	$172M
SG&A Expenses	$281M
Other Expenses	$562.0K
Operating Expenses	$137M
Cost & Expenses	$691M
OPERATING INCOME	$283M
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	$774.0K
INCOME BEFORE TAX	$284M
Income Tax Expense	$80M
Net Income from Continuing Ops	$203M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$203M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$203M
D&A	$54M
EBIT	$286M
EBITDA	$340M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$974M
Cost of Revenue	$555M
GROSS PROFIT	$420M
R&D Expenses	$0
Selling & Marketing	$108M
General & Administrative	$172M
SG&A Expenses	$281M
Other Expenses	$562.0K
Operating Expenses	$137M
Cost & Expenses	$691M
OPERATING INCOME	$283M
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	$774.0K
INCOME BEFORE TAX	$284M
Income Tax Expense	$80M
Net Income from Continuing Ops	$203M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$203M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$203M
D&A	$54M
EBIT	$286M
EBITDA	$340M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$203M
Depreciation & Amortization	$54M
Stock-Based Compensation	$13M
Deferred Income Tax	-$5M
Other Non-Cash Items	$22M
Change in Working Capital	$17M
OPERATING CASH FLOW	$305M
Capital Expenditure	-$124M
Acquisitions (Net)	$685.0K
Purchases of Investments	-$94M
Sales/Maturities of Investments	$65M
Other Investing Activities	-$28M
NET CASH FROM INVESTING	-$152M
Net Debt Issuance	-$32M
Common Stock Repurchased	-$11M
Common Dividends Paid	$0
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$36M
FREE CASH FLOW	$181M
Net Change in Cash	$117M

Balance Sheet

Item	Amount
Cash & Equivalents	$153M
Short-Term Investments	$89M
Net Receivables	$13M
Inventory	$95M
Other Current Assets	$119M
TOTAL CURRENT ASSETS	$375M
PP&E (Net)	$922M
Goodwill	$3M
Intangible Assets	$0
Long-Term Investments	-$16M
Tax Assets	$18M
Other Non-Current Assets	$723.0K
TOTAL NON-CURRENT ASSETS	$929M
TOTAL ASSETS	$1.3B
Account Payables	$29M
Short-Term Debt	$7M
Deferred Revenue	$142M
Other Current Liabilities	$160M
TOTAL CURRENT LIABILITIES	$238M
Long-Term Debt	$60M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$18M
Other Non-Current Liabilities	$1M
TOTAL NON-CURRENT LIABILITIES	$79M
TOTAL LIABILITIES	$318M
Common Stock	$523.0K
Additional Paid-In Capital	$233M
Retained Earnings	$854M
Treasury Stock	-$101M
Accum. Other Comp. Income	-$724.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$986M
Minority Interest	$0
TOTAL EQUITY	$986M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$67M
Net Debt	-$87M