Grand Canyon Education (LOPE) FY2017 results: revenue $974 million, up 11.5% on the year
Grand Canyon Education, Inc. (LOPE) reported revenue of $974 million for fiscal 2017, the year ended 31 December 2017, up 11.5% on the year before. Net income was $203 million, up 36.9%, and diluted earnings per share $4.22. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$974 million
+11.5% on the year
FY2010FY2017
Operating margin
29.0%
27.2% a year earlier
FY2010FY2017
Net income
$203 million
+36.9% on the year
FY2010FY2017
Diluted EPS
$4.22
+34.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
974
873
778
+11.5%
Operating income
283
237
210
+19.2%
Operating margin
29.0%
27.2%
27.0%
Interest expense
2.2
1.3
1.2
+63.3%
Pre-tax income
284
236
209
+20.1%
Income tax
80.2
87.6
77.6
-8.4%
Effective tax rate
28.3%
37.1%
37.1%
Net income
203
149
131
+36.9%
Net margin
20.9%
17.0%
16.9%
Diluted EPS
$4.22
$3.15
$2.78
+34.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
305
238
n/a
+28.2%
Capital expenditure
114
178
205
-36.3%
Free cash flow
191
59.5
n/a
+221.7%
Free cash flow margin
19.6%
6.8%
n/a
Cash from investing
-152
-216
n/a
Cash from financing
-35.7
10.7
n/a
Depreciation and amortisation
53.6
44.8
35.7
+19.6%
Share-based compensation
12.7
12.3
11.3
+3.4%
Buybacks
11.3
20.1
15.6
-43.7%
Diluted shares, weighted
48m
47m
47m
+2.4%
Shares outstanding at period end
48m
48m
47m
+1.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
986
774
610
+27.4%
Debt
66.6
98.3
79.9
-32.2%
Other liabilities
251
221
202
+13.8%
Total liabilities and equity
1,304
1,092
892
+19.3%
Fixed assets
922
856
667
+7.8%
Goodwill
2.9
2.9
2.9
0.0%
Investments
89.3
138
139
-35.4%
Cash and equivalents
153
46.0
23.0
+233.8%
Receivables
10.9
9.5
8.3
+14.4%
Other assets
125
40.3
51.3
+209.7%
Total assets
1,304
1,092
892
+19.3%
10-K for the year ended 31 December 2017, filed 20 February 2019: the filing.