Grand Canyon Education (LOPE) FY2022 results: revenue $911 million, up 1.6% on the year
Grand Canyon Education, Inc. (LOPE) reported revenue of $911 million for fiscal 2022, the year ended 31 December 2022, up 1.6% on the year before. Net income was $185 million, down 29.1%, and diluted earnings per share $5.73. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2023.
Revenue
$911 million
+1.6% on the year
FY2015FY2022
Operating margin
26.1%
31.5% a year earlier
FY2015FY2022
Net income
$185 million
-29.1% on the year
FY2015FY2022
Diluted EPS
$5.73
-3.2% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
221
313
309
-29.5%
Capital expenditure
35.2
28.9
29.4
+22.0%
Free cash flow
186
284
279
-34.7%
Free cash flow margin
20.4%
31.7%
33.1%
Cash from investing
-97.1
951
-19.4
Cash from financing
-604
-909
-166
Depreciation and amortisation
22.1
21.4
20.8
+3.1%
Share-based compensation
12.6
11.5
10.7
+9.7%
Buybacks
604
804
134
-24.8%
Diluted shares, weighted
32m
44m
47m
-26.7%
Shares outstanding at period end
31m
38m
47m
-17.7%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
638
1,045
1,574
-39.0%
Debt
0.0
53.8
108
Operating lease liabilities
68.8
53.8
56.6
+28.0%
Other liabilities
126
70.2
106
+80.0%
Total liabilities and equity
833
1,223
1,845
-31.9%
Fixed assets
148
136
129
+8.4%
Goodwill
161
161
161
0.0%
Intangible assets
177
185
194
-4.5%
Investments
61.3
0.0
n/a
Cash and equivalents
120
601
246
-80.0%
Receivables
77.4
70.1
62.2
+10.5%
Other assets
88.6
69.6
1,054
+27.2%
Total assets
833
1,223
1,845
-31.9%
10-K for the year ended 31 December 2022, filed 16 February 2023: the filing.