Grand Canyon Education (LOPE) FY2023 results: revenue $961 million, up 5.4% on the year
Grand Canyon Education, Inc. (LOPE) reported revenue of $961 million for fiscal 2023, the year ended 31 December 2023, up 5.4% on the year before. Net income was $205 million, up 11.0%, and diluted earnings per share $6.80. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2024.
Revenue
$961 million
+5.4% on the year
FY2016FY2023
Operating margin
25.9%
26.1% a year earlier
FY2016FY2023
Net income
$205 million
+11.0% on the year
FY2016FY2023
Diluted EPS
$6.80
+18.7% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
244
221
313
+10.3%
Capital expenditure
44.5
35.2
28.9
+26.4%
Free cash flow
199
186
284
+7.3%
Free cash flow margin
20.7%
20.4%
31.7%
Cash from investing
-80.5
-97.1
951
Cash from financing
-137
-604
-909
Depreciation and amortisation
23.1
22.1
21.4
+4.5%
Share-based compensation
13.2
12.6
11.5
+4.4%
Buybacks
137
604
804
-77.3%
Diluted shares, weighted
30m
32m
44m
-6.5%
Shares outstanding at period end
30m
31m
38m
-3.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
718
638
1,045
+12.6%
Debt
0.0
0.0
53.8
Operating lease liabilities
88.3
68.8
53.8
+28.3%
Other liabilities
124
126
70.2
-1.7%
Total liabilities and equity
930
833
1,223
+11.7%
Fixed assets
170
148
136
+15.0%
Goodwill
161
161
161
0.0%
Intangible assets
168
177
185
-4.8%
Investments
98.0
61.3
0.0
+59.9%
Cash and equivalents
146
120
601
+21.6%
Receivables
78.8
77.4
70.1
+1.8%
Other assets
108
88.6
69.6
+22.3%
Total assets
930
833
1,223
+11.7%
10-K for the year ended 31 December 2023, filed 13 February 2024: the filing.