Grand Canyon Education Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,106	1,033	960.9	911.31	896.56
Revenue Growth (YoY)	7.07%	7.50%	5.44%	1.64%	6.22%
Gross Profit	1,106	1,033	960.9	911.31	896.56
Selling, General & Admin	276.62	258.72	246.04	241.58	224.7
Depreciation & Amortization Expenses	8.42	8.42	8.42	8.42	8.42
Other Operating Expenses	555.12	490.47	457.19	423.81	381.26
Total Operating Expenses	840.16	757.6	711.64	673.81	614.37
Operating Income	265.91	275.4	249.26	237.5	282.19
Interest Income	-	-	-	-	52.09
Interest Expense	-	-	-	-0	-3.6
Other Non-Operating Income (Expense)	13.94	15.92	10.42	2.62	0.61
Total Non-Operating Income (Expense)	13.94	15.92	10.42	2.62	49.1
Pretax Income	279.85	291.32	259.68	240.12	331.29
Provision for Income Taxes	63.68	65.08	54.69	55.44	70.95
Net Income	216.17	226.23	204.99	184.68	260.34
Net Income to Common	216.17	226.23	204.99	184.68	260.34
Net Income Growth	-4.45%	10.37%	11.00%	-29.07%	1.22%
Shares Outstanding (Basic)	28	29	30	32	44
Shares Outstanding (Diluted)	28	29	30	32	44
Shares Change (YoY)	-4.26%	-2.91%	-6.48%	-26.66%	-6.80%
EPS (Basic)	7.76	7.77	6.83	5.75	5.94
EPS (Diluted)	7.71	7.73	6.80	5.73	5.92
EPS Growth	-0.26%	13.68%	18.67%	-3.21%	8.62%
Shares Outstanding	27.39	28.86	29.95	31.06	37.72
Free Cash Flow	238.65	252.71	199.13	185.59	284.24
Free Cash Flow Growth	-5.56%	26.91%	7.29%	-34.71%	1.73%
Free Cash Flow Per Share	8.52	8.63	6.61	5.76	6.47
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	24.04%	26.66%	25.94%	26.06%	31.47%
Profit Margin	19.54%	21.90%	21.33%	20.26%	29.04%
FCF Margin	21.58%	24.46%	20.72%	20.36%	31.70%
EBITDA	305.81	311.95	281.23	268.68	312.6
EBITDA Margin	27.65%	30.20%	29.27%	29.48%	34.87%
EBIT	265.91	275.4	249.26	237.5	282.19
EBIT Margin	24.04%	26.66%	25.94%	26.06%	31.47%
Effective Tax Rate	22.76%	22.34%	21.06%	23.09%	21.41%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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