LOPE FY 2019 Earnings Report — Grand Canyon Education, Inc. Revenue & Financial Results | Market Cap Arena

Grand Canyon Education, Inc.LOPE

FY 2019 Earnings

Reported February 19, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$779M	—	$846M	—	-7.9%
Op. Income	$265M	—	$258M	—	2.7%
Gross Margin	59.7%	—	50.1%	—	9.5pp
Net Margin	33.3%	—	27.1%	—	6.2pp
EPS (Diluted)	$5.37	—	$4.73	—	13.5%
Free Cash Flow	$284M	—	$104M	—	172.2%

Revenue Flow

Item	Amount
REVENUE	$779M
Cost of Revenue	$314M
GROSS PROFIT	$465M
R&D Expenses	$0
Selling & Marketing	$143M
General & Administrative	$44M
SG&A Expenses	$187M
Other Expenses	$12M
Operating Expenses	$199M
Cost & Expenses	$514M
OPERATING INCOME	$265M
Interest Income	$64M
Interest Expense	$11M
Other Income/Expenses	$52M
INCOME BEFORE TAX	$318M
Income Tax Expense	$58M
Net Income from Continuing Ops	$259M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$259M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$259M
D&A	$27M
EBIT	$329M
EBITDA	$356M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$779M
Cost of Revenue	$314M
GROSS PROFIT	$465M
R&D Expenses	$0
Selling & Marketing	$143M
General & Administrative	$44M
SG&A Expenses	$187M
Other Expenses	$12M
Operating Expenses	$199M
Cost & Expenses	$514M
OPERATING INCOME	$265M
Interest Income	$64M
Interest Expense	$11M
Other Income/Expenses	$52M
INCOME BEFORE TAX	$318M
Income Tax Expense	$58M
Net Income from Continuing Ops	$259M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$259M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$259M
D&A	$27M
EBIT	$329M
EBITDA	$356M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$259M
Depreciation & Amortization	$27M
Stock-Based Compensation	$10M
Deferred Income Tax	$2M
Other Non-Cash Items	$4M
Change in Working Capital	$5M
OPERATING CASH FLOW	$306M
Capital Expenditure	-$23M
Acquisitions (Net)	-$361M
Purchases of Investments	-$9M
Sales/Maturities of Investments	$57M
Other Investing Activities	-$70M
NET CASH FROM INVESTING	-$406M
Net Debt Issuance	$83M
Common Stock Repurchased	-$44M
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	$40M
FREE CASH FLOW	$284M
Net Change in Cash	-$59M

Balance Sheet

Item	Amount
Cash & Equivalents	$122M
Short-Term Investments	$22M
Net Receivables	$56M
Inventory	$0
Other Current Assets	$8M
TOTAL CURRENT ASSETS	$208M
PP&E (Net)	$148M
Goodwill	$161M
Intangible Assets	$202M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$972M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$1.7B
Account Payables	$15M
Short-Term Debt	$33M
Deferred Revenue	$20.0K
Other Current Liabilities	$21M
TOTAL CURRENT LIABILITIES	$95M
Long-Term Debt	$108M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$18M
Other Non-Current Liabilities	$13.0K
TOTAL NON-CURRENT LIABILITIES	$152M
TOTAL LIABILITIES	$247M
Common Stock	$531.0K
Additional Paid-In Capital	$271M
Retained Earnings	$1.3B
Treasury Stock	-$169M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$170M
Net Debt	$47M