Grand Canyon Education (LOPE) FY2020 results: revenue $844 million, up 8.4% on the year
Grand Canyon Education, Inc. (LOPE) reported revenue of $844 million for fiscal 2020, the year ended 31 December 2020, up 8.4% on the year before. Net income was $257 million, down 0.8%, and diluted earnings per share $5.45. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$844 million
+8.4% on the year
FY2013FY2020
Operating margin
32.9%
34.1% a year earlier
FY2013FY2020
Net income
$257 million
-0.8% on the year
FY2013FY2020
Diluted EPS
$5.45
+1.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
844
779
846
+8.4%
Operating income
277
265
258
+4.6%
Operating margin
32.9%
34.1%
30.5%
Interest expense
4.4
11.3
1.5
-61.1%
Pre-tax income
333
318
287
+4.9%
Income tax
75.9
58.3
58.0
+30.2%
Effective tax rate
22.8%
18.4%
20.2%
Net income
257
259
229
-0.8%
Net margin
30.5%
33.3%
27.1%
Diluted EPS
$5.45
$5.37
$4.73
+1.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
309
306
199
+0.8%
Capital expenditure
29.4
22.4
94.5
+31.4%
Free cash flow
279
284
105
-1.6%
Free cash flow margin
33.1%
36.5%
12.4%
Cash from investing
-19.4
-406
-238
Cash from financing
-166
40.1
-26.8
Depreciation and amortisation
20.8
18.4
35.5
+13.2%
Share-based compensation
10.7
10.3
19.5
+3.5%
Buybacks
134
43.9
24.8
+205.2%
Diluted shares, weighted
47m
48m
48m
-2.3%
Shares outstanding at period end
47m
48m
48m
-3.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,574
1,443
1,214
+9.1%
Debt
108
141
59.9
-23.5%
Operating lease liabilities
56.6
25.5
n/a
+121.8%
Other liabilities
106
80.4
50.5
+31.6%
Total liabilities and equity
1,845
1,690
1,324
+9.1%
Fixed assets
129
120
111
+7.5%
Goodwill
161
161
2.9
0.0%
Intangible assets
194
202
n/a
-4.2%
Cash and equivalents
246
122
120
+101.0%
Receivables
62.2
48.9
46.8
+27.1%
Other assets
1,054
1,037
1,043
+1.6%
Total assets
1,845
1,690
1,324
+9.1%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.