Grand Canyon Education (LOPE) FY2016 results: revenue $873 million, up 12.2% on the year
Grand Canyon Education, Inc. (LOPE) reported revenue of $873 million for fiscal 2016, the year ended 31 December 2016, up 12.2% on the year before. Net income was $149 million, up 13.0%, and diluted earnings per share $3.15. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$873 million
+12.2% on the year
FY2009FY2016
Operating margin
27.2%
27.0% a year earlier
FY2009FY2016
Net income
$149 million
+13.0% on the year
FY2009FY2016
Diluted EPS
$3.15
+13.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
873
778
691
+12.2%
Operating income
237
210
181
+12.8%
Operating margin
27.2%
27.0%
26.2%
Interest expense
1.3
1.2
1.8
+6.4%
Pre-tax income
236
209
180
+13.0%
Income tax
87.6
77.6
68.2
+12.9%
Effective tax rate
37.1%
37.1%
38.0%
Net income
149
131
111
+13.0%
Net margin
17.0%
16.9%
16.1%
Diluted EPS
$3.15
$2.78
$2.37
+13.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
238
n/a
167
Capital expenditure
178
205
169
-12.9%
Free cash flow
59.5
n/a
-1.6
Free cash flow margin
6.8%
n/a
-0.2%
Cash from investing
-216
n/a
n/a
Cash from financing
10.7
n/a
n/a
Depreciation and amortisation
44.8
35.7
29.5
+25.7%
Share-based compensation
12.3
11.3
9.9
+9.1%
Buybacks
20.1
15.6
5.3
+28.9%
Diluted shares, weighted
47m
47m
47m
-0.3%
Shares outstanding at period end
48m
47m
47m
+1.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
774
610
476
+26.8%
Debt
98.3
79.9
86.5
+23.0%
Other liabilities
221
202
193
+9.3%
Total liabilities and equity
1,092
892
756
+22.5%
Fixed assets
856
667
478
+28.2%
Goodwill
2.9
2.9
2.9
0.0%
Investments
138
139
169
-0.5%
Cash and equivalents
46.0
23.0
65.2
+99.6%
Receivables
9.5
8.3
7.6
+14.9%
Other assets
40.3
51.3
33.1
-21.4%
Total assets
1,092
892
756
+22.5%
10-K for the year ended 31 December 2016, filed 20 February 2019: the filing.