Grand Canyon Education Inc. (LOPE) Financial Statements (2024 and earlier)

Company Profile

Business Address 2600 W. CAMELBACK ROAD
PHOENIX, AZ 85017
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments244,506181,704600,941245,769122,272189,348
Cash and cash equivalents146,475120,409600,941245,769122,272120,346
Short-term investments98,03161,295   69,002
Restricted cash and investments     30061,667
Receivables80,12780,20171,33863,77751,24346,838
Other current assets12,88911,3688,7668,6398,0356,963
Deferred tax assets1,871
Other undisclosed current assets    15,55726,4942,779
Total current assets:337,522273,273681,045333,742208,344309,466
Noncurrent Assets
Operating lease, right-of-use asset92,45472,71957,65261,02027,770
Property, plant and equipment169,699147,504136,120128,657119,734111,039
Long-term investments and receivables    964,912969,912900,093
Accounts and financing receivable, after allowance for credit loss    964,912969,912900,093
Intangible assets, net (including goodwill)329,147337,566345,985354,404362,8232,941
Goodwill160,766160,766160,766160,766160,7662,941
Intangible assets, net (excluding goodwill)168,381176,800185,219193,638202,057 
Other noncurrent assets1,6411,6871,9431,8441,706478
Total noncurrent assets:592,941559,476541,7001,510,8371,481,9451,014,551
TOTAL ASSETS:930,463832,7491,222,7451,844,5791,690,2891,324,017
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities44,40142,47990,50878,18158,98244,050
Taxes payable5,8955,4056,5765,442
Employee-related liabilities32,71434,24820,80015,427
Accounts payable17,67620,00624,30616,58314,83514,274
Accrued liabilities26,72522,47327,59321,94516,7718,907
Deferred revenue  10 20
Debt    33,14436,22836,468
Liability for uncertainty in income taxes 13,63115,862    
Other undisclosed current liabilities39,00141,3657,4267,393  
Total current liabilities:97,03399,70697,944118,71895,23080,518
Noncurrent Liabilities
Long-term debt and lease obligation   53,755131,241133,29323,437
Long-term debt, excluding current maturities    74,630107,77423,437
Liabilities, other than long-term debt115,41695,42425,99920,29118,3336,465
Deferred tax liabilities, net6,465
Deferred income tax liabilities26,74926,19525,96220,28818,320
Other liabilities41043637313 
Operating lease, liability88,25768,79353,75556,61125,519
Total noncurrent liabilities:115,41695,42479,754151,532151,62629,902
Total liabilities:212,449195,130177,698270,250246,856110,420
Equity
Equity, attributable to parent718,014637,6191,045,0471,574,3291,443,4331,213,597
Common stock540538536533531527
Treasury stock, value(1,849,693)(1,711,423)(1,107,211)(303,379)(169,365)(125,452)
Additional paid in capital322,512309,310296,670282,467270,923256,806
Accumulated other comprehensive loss(57)(533)   (453)
Retained earnings2,244,7122,039,7271,855,0521,594,7081,341,3441,082,169
Total equity:718,014637,6191,045,0471,574,3291,443,4331,213,597
TOTAL LIABILITIES AND EQUITY:930,463832,7491,222,7451,844,5791,690,2891,324,017

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues960,899911,306896,564844,096778,643845,501
Cost of revenue(457,189)(423,806)(386,257)(350,546)(318,076)(395,622)
Gross profit:503,710487,500510,307493,550460,567449,879
Operating expenses(254,454)(250,000)(228,117)(216,113)(195,436)(191,730)
Operating income:249,256237,500282,190277,437265,131258,149
Nonoperating income
(Investment Income, Nonoperating)
10,4522,6216109154,3853,440
Interest and debt expense(33)(2)(3,601)(4,402)(11,311)(1,536)
Income from continuing operations before equity method investments, income taxes:259,675240,119279,199273,950258,205260,053
Other undisclosed income from continuing operations before income taxes   52,09059,19059,29726,947
Income from continuing operations before income taxes:259,675240,119331,289333,140317,502287,000
Income tax expense(54,690)(55,444)(70,945)(75,944)(58,327)(57,989)
Income from continuing operations:204,985184,675260,344257,196259,175229,011
Income before gain (loss) on sale of properties:260,344257,196259,175229,011
Net income available to common stockholders, diluted:204,985184,675260,344257,196259,175229,011

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:204,985184,675260,344257,196259,175229,011
Comprehensive income:204,985184,675260,344257,196259,175229,011
Other undisclosed comprehensive income (loss), net of tax, attributable to parent476(533)  453427
Comprehensive income, net of tax, attributable to parent:205,461184,142260,344257,196259,628229,438

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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