LOPE FY 2021 Earnings Report — Grand Canyon Education, Inc. Revenue & Financial Results | Market Cap Arena

Grand Canyon Education, Inc.LOPE

FY 2021 Earnings

Reported February 16, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$897M	—	$844M	—	6.2%
Op. Income	$282M	—	$277M	—	1.7%
Gross Margin	57.5%	—	58.5%	—	-1.0pp
Net Margin	29.0%	—	30.5%	—	-1.4pp
EPS (Diluted)	$5.92	—	$5.45	—	8.6%
Free Cash Flow	$284M	—	$279M	—	1.7%

Revenue Flow

Item	Amount
REVENUE	$897M
Cost of Revenue	$381M
GROSS PROFIT	$515M
R&D Expenses	$0
Selling & Marketing	$183M
General & Administrative	$42M
SG&A Expenses	$225M
Other Expenses	$8M
Operating Expenses	$233M
Cost & Expenses	$614M
OPERATING INCOME	$282M
Interest Income	$53M
Interest Expense	$4M
Other Income/Expenses	$49M
INCOME BEFORE TAX	$331M
Income Tax Expense	$71M
Net Income from Continuing Ops	$260M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$260M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$260M
D&A	$30M
EBIT	$335M
EBITDA	$365M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$897M
Cost of Revenue	$381M
GROSS PROFIT	$515M
R&D Expenses	$0
Selling & Marketing	$183M
General & Administrative	$42M
SG&A Expenses	$225M
Other Expenses	$8M
Operating Expenses	$233M
Cost & Expenses	$614M
OPERATING INCOME	$282M
Interest Income	$53M
Interest Expense	$4M
Other Income/Expenses	$49M
INCOME BEFORE TAX	$331M
Income Tax Expense	$71M
Net Income from Continuing Ops	$260M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$260M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$260M
D&A	$30M
EBIT	$335M
EBITDA	$365M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$260M
Depreciation & Amortization	$30M
Stock-Based Compensation	$12M
Deferred Income Tax	$6M
Other Non-Cash Items	-$4M
Change in Working Capital	$9M
OPERATING CASH FLOW	$313M
Capital Expenditure	-$29M
Acquisitions (Net)	$29M
Purchases of Investments	-$56M
Sales/Maturities of Investments	$67M
Other Investing Activities	$941M
NET CASH FROM INVESTING	$951M
Net Debt Issuance	-$108M
Common Stock Repurchased	-$804M
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	-$909M
FREE CASH FLOW	$284M
Net Change in Cash	$355M

Balance Sheet

Item	Amount
Cash & Equivalents	$601M
Short-Term Investments	$0
Net Receivables	$71M
Inventory	$0
Other Current Assets	$9M
TOTAL CURRENT ASSETS	$681M
PP&E (Net)	$194M
Goodwill	$161M
Intangible Assets	$185M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$542M
TOTAL ASSETS	$1.2B
Account Payables	$24M
Short-Term Debt	$0
Deferred Revenue	$10.0K
Other Current Liabilities	$33M
TOTAL CURRENT LIABILITIES	$98M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$26M
Other Non-Current Liabilities	$37.0K
TOTAL NON-CURRENT LIABILITIES	$80M
TOTAL LIABILITIES	$178M
Common Stock	$536.0K
Additional Paid-In Capital	$297M
Retained Earnings	$1.9B
Treasury Stock	-$1.1B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$61M
Net Debt	-$540M