GRAND CANYON EDUCATION, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.11B | $1.03B | $960.9M | $911.3M | $896.6M | $844.1M | $778.6M | $845.5M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $47.4M | $46.3M | $43.2M | $45.5M | $41.8M | $43.4M | $44.3M | $30.0M |
| Operating Income | $265.9M | $275.4M | $249.3M | $237.5M | $282.2M | $277.4M | $265.1M | $258.1M |
| Operating Margin | 24.0% | 26.7% | 25.9% | 26.1% | 31.5% | 32.9% | 34.1% | 30.5% |
| Interest Expense | — | — | $33.0K | $2.0K | $3.6M | $4.4M | $11.3M | $1.5M |
| Pretax Income | $279.9M | $291.3M | $259.7M | $240.1M | $331.3M | $333.1M | $317.5M | $287.0M |
| Income Tax Expense | $63.7M | $65.1M | $54.7M | $55.4M | $70.9M | $75.9M | $58.3M | $58.0M |
| Net Income | $216.2M | $226.2M | $205.0M | $184.7M | $260.3M | $257.2M | $259.2M | $229.0M |
| Net Margin | 19.5% | 21.9% | 21.3% | 20.3% | 29.0% | 30.5% | 33.3% | 27.1% |
| EPS (Basic) | $7.76 | $7.77 | $6.83 | $5.75 | $5.94 | $5.49 | $5.42 | $4.81 |
| EPS (Diluted) | $7.71 | $7.73 | $6.80 | $5.73 | $5.92 | $5.45 | $5.37 | $4.73 |
| Shares Outstanding (Basic) | 27.9M | 29.1M | 30.0M | 32.1M | 43.8M | 46.9M | 47.8M | 47.6M |
| Shares Outstanding (Diluted) | 28.0M | 29.3M | 30.1M | 32.2M | 44.0M | 47.2M | 48.3M | 48.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |