Grand Canyon Education Inc
NASDAQ:LOPE
Income Statement
Earnings Waterfall
Grand Canyon Education Inc
Income Statement
Grand Canyon Education Inc
| Dec-2006 | Mar-2007 | Jun-2007 | Sep-2007 | Dec-2007 | Mar-2008 | Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
3
|
2
|
2
|
2
|
3
|
2
|
2
|
2
|
3
|
2
|
2
|
2
|
2
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
1
|
1
|
1
|
2
|
2
|
4
|
1
|
4
|
4
|
2
|
2
|
2
|
1
|
1
|
2
|
4
|
7
|
9
|
11
|
10
|
8
|
6
|
4
|
4
|
3
|
3
|
4
|
0
|
2
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Revenue |
72
N/A
|
79
+9%
|
84
+6%
|
90
+8%
|
99
+10%
|
110
+10%
|
126
+15%
|
142
+13%
|
161
+14%
|
183
+14%
|
209
+14%
|
235
+12%
|
262
+11%
|
296
+13%
|
330
+12%
|
363
+10%
|
386
+6%
|
398
+3%
|
404
+1%
|
414
+2%
|
427
+3%
|
442
+4%
|
458
+4%
|
483
+5%
|
511
+6%
|
536
+5%
|
558
+4%
|
577
+3%
|
598
+4%
|
624
+4%
|
641
+3%
|
664
+4%
|
691
+4%
|
718
+4%
|
734
+2%
|
752
+2%
|
778
+3%
|
811
+4%
|
828
+2%
|
845
+2%
|
873
+3%
|
895
+2%
|
922
+3%
|
947
+3%
|
974
+3%
|
1 002
+3%
|
1 020
+2%
|
939
-8%
|
846
-10%
|
767
-9%
|
705
-8%
|
743
+5%
|
779
+5%
|
803
+3%
|
814
+1%
|
819
+1%
|
844
+3%
|
859
+2%
|
875
+2%
|
883
+1%
|
897
+1%
|
904
+1%
|
902
0%
|
904
+0%
|
911
+1%
|
917
+1%
|
928
+1%
|
941
+1%
|
961
+2%
|
985
+3%
|
1 002
+2%
|
1 019
+2%
|
1 033
+1%
|
1 048
+1%
|
1 068
+2%
|
1 091
+2%
|
1 106
+1%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(31)
|
(33)
|
(34)
|
(37)
|
(45)
|
(42)
|
(46)
|
(49)
|
(65)
|
(61)
|
(69)
|
(79)
|
(102)
|
(106)
|
(137)
|
(159)
|
(179)
|
(191)
|
(186)
|
(190)
|
(195)
|
(197)
|
(204)
|
(212)
|
(220)
|
(230)
|
(238)
|
(245)
|
(254)
|
(265)
|
(271)
|
(278)
|
(289)
|
(297)
|
(304)
|
(316)
|
(330)
|
(346)
|
(355)
|
(363)
|
(373)
|
(381)
|
(391)
|
(404)
|
(411)
|
(419)
|
(426)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(95)
|
(192)
|
(381)
|
(392)
|
(401)
|
(409)
|
(424)
|
(431)
|
(438)
|
(446)
|
(457)
|
(468)
|
(476)
|
(482)
|
(489)
|
(495)
|
(502)
|
(512)
|
(518)
|
|
| Gross Profit |
41
N/A
|
46
+13%
|
49
+7%
|
54
+9%
|
54
+1%
|
68
+26%
|
80
+18%
|
93
+16%
|
97
+4%
|
122
+26%
|
141
+15%
|
156
+11%
|
160
+3%
|
190
+18%
|
193
+2%
|
204
+5%
|
207
+1%
|
207
+0%
|
217
+5%
|
224
+3%
|
232
+3%
|
246
+6%
|
255
+4%
|
271
+6%
|
291
+7%
|
307
+5%
|
320
+5%
|
332
+4%
|
344
+4%
|
359
+4%
|
370
+3%
|
385
+4%
|
402
+4%
|
421
+5%
|
430
+2%
|
436
+2%
|
449
+3%
|
465
+4%
|
473
+2%
|
481
+2%
|
500
+4%
|
514
+3%
|
530
+3%
|
543
+2%
|
563
+4%
|
582
+3%
|
594
+2%
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
107
N/A
|
216
+102%
|
515
+139%
|
512
-1%
|
501
-2%
|
495
-1%
|
488
-2%
|
486
0%
|
490
+1%
|
495
+1%
|
504
+2%
|
517
+3%
|
526
+2%
|
536
+2%
|
544
+1%
|
553
+1%
|
566
+2%
|
578
+2%
|
588
+2%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(38)
|
(40)
|
(46)
|
(50)
|
(50)
|
(64)
|
(72)
|
(81)
|
(84)
|
(105)
|
(112)
|
(119)
|
(107)
|
(126)
|
(132)
|
(136)
|
(139)
|
(143)
|
(142)
|
(146)
|
(149)
|
(155)
|
(161)
|
(167)
|
(177)
|
(183)
|
(191)
|
(196)
|
(201)
|
(206)
|
(210)
|
(217)
|
(221)
|
(228)
|
(232)
|
(236)
|
(238)
|
(242)
|
(247)
|
(254)
|
(260)
|
(269)
|
(275)
|
(275)
|
(281)
|
(286)
|
(294)
|
(654)
|
(569)
|
(506)
|
(452)
|
(475)
|
(510)
|
(530)
|
(543)
|
(557)
|
(567)
|
(579)
|
(498)
|
(414)
|
(233)
|
(237)
|
(242)
|
(246)
|
(250)
|
(252)
|
(254)
|
(253)
|
(254)
|
(258)
|
(259)
|
(263)
|
(267)
|
(274)
|
(278)
|
(281)
|
(285)
|
|
| Selling, General & Administrative |
(38)
|
(40)
|
(45)
|
(50)
|
(50)
|
(64)
|
(72)
|
(81)
|
(84)
|
(105)
|
(112)
|
(119)
|
(107)
|
(126)
|
(132)
|
(136)
|
(139)
|
(143)
|
(142)
|
(146)
|
(149)
|
(154)
|
(160)
|
(167)
|
(177)
|
(183)
|
(191)
|
(196)
|
(201)
|
(206)
|
(210)
|
(217)
|
(221)
|
(228)
|
(232)
|
(236)
|
(238)
|
(242)
|
(247)
|
(254)
|
(260)
|
(265)
|
(271)
|
(275)
|
(281)
|
(286)
|
(294)
|
(332)
|
(569)
|
(402)
|
(448)
|
(469)
|
(501)
|
(521)
|
(535)
|
(549)
|
(558)
|
(570)
|
(489)
|
(406)
|
(225)
|
(228)
|
(233)
|
(238)
|
(242)
|
(244)
|
(246)
|
(245)
|
(246)
|
(249)
|
(250)
|
(254)
|
(259)
|
(262)
|
(267)
|
(273)
|
(277)
|
|
| Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(4)
|
(6)
|
(8)
|
(9)
|
(9)
|
(9)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
|
| Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(4)
|
(4)
|
0
|
0
|
0
|
0
|
(322)
|
0
|
(102)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(3)
|
0
|
0
|
0
|
|
| Operating Income |
3
N/A
|
6
+103%
|
4
-34%
|
4
+5%
|
4
+2%
|
4
N/A
|
8
+95%
|
12
+44%
|
13
+6%
|
18
+39%
|
29
+60%
|
37
+29%
|
53
+44%
|
64
+20%
|
62
-3%
|
68
+11%
|
68
-1%
|
64
-5%
|
75
+17%
|
78
+4%
|
83
+6%
|
90
+9%
|
94
+4%
|
104
+11%
|
114
+10%
|
123
+8%
|
130
+5%
|
136
+5%
|
143
+6%
|
153
+7%
|
160
+4%
|
168
+5%
|
181
+7%
|
193
+7%
|
198
+2%
|
201
+2%
|
210
+5%
|
223
+6%
|
226
+1%
|
227
+1%
|
241
+6%
|
245
+2%
|
256
+4%
|
268
+5%
|
283
+5%
|
296
+5%
|
300
+1%
|
285
-5%
|
277
-3%
|
261
-6%
|
253
-3%
|
268
+6%
|
269
+0%
|
273
+2%
|
271
-1%
|
262
-3%
|
277
+6%
|
281
+1%
|
283
+1%
|
277
-2%
|
282
+2%
|
275
-2%
|
259
-6%
|
249
-4%
|
238
-5%
|
235
-1%
|
236
+1%
|
242
+3%
|
249
+3%
|
259
+4%
|
268
+3%
|
273
+2%
|
277
+2%
|
279
+1%
|
288
+3%
|
297
+3%
|
303
+2%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
1
|
1
|
2
|
2
|
(0)
|
(0)
|
(2)
|
(1)
|
(1)
|
(1)
|
(0)
|
(1)
|
1
|
1
|
(2)
|
(1)
|
(3)
|
(3)
|
0
|
1
|
2
|
3
|
15
|
29
|
41
|
53
|
54
|
52
|
54
|
53
|
54
|
56
|
56
|
56
|
57
|
49
|
35
|
22
|
8
|
3
|
5
|
7
|
9
|
10
|
12
|
14
|
15
|
16
|
16
|
15
|
14
|
14
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(5)
|
(6)
|
(7)
|
(7)
|
(1)
|
(10)
|
(9)
|
(9)
|
(10)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(3)
|
(4)
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(16)
|
(18)
|
(21)
|
(20)
|
(5)
|
(4)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
(2)
|
0
|
0
|
(39)
|
(37)
|
|
| Pre-Tax Income |
1
N/A
|
4
+255%
|
2
-51%
|
2
+5%
|
3
+25%
|
2
-4%
|
6
+167%
|
10
+56%
|
11
+5%
|
16
+49%
|
27
+70%
|
30
+13%
|
45
+51%
|
56
+24%
|
54
-3%
|
66
+22%
|
58
-13%
|
54
-6%
|
65
+20%
|
68
+3%
|
82
+21%
|
89
+10%
|
93
+4%
|
103
+11%
|
113
+10%
|
125
+10%
|
130
+5%
|
138
+6%
|
145
+5%
|
153
+6%
|
160
+4%
|
167
+4%
|
180
+8%
|
193
+7%
|
197
+2%
|
201
+2%
|
209
+4%
|
224
+7%
|
226
+1%
|
222
-2%
|
236
+6%
|
242
+2%
|
252
+4%
|
268
+6%
|
284
+6%
|
298
+5%
|
303
+2%
|
285
-6%
|
287
+1%
|
281
-2%
|
286
+2%
|
317
+11%
|
318
+0%
|
327
+3%
|
324
-1%
|
316
-2%
|
333
+5%
|
337
+1%
|
339
+1%
|
334
-2%
|
331
-1%
|
311
-6%
|
281
-10%
|
257
-8%
|
240
-7%
|
239
0%
|
243
+2%
|
251
+3%
|
260
+3%
|
271
+4%
|
280
+3%
|
288
+3%
|
291
+1%
|
295
+1%
|
303
+3%
|
272
-10%
|
280
+3%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(1)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(3)
|
(4)
|
(4)
|
(6)
|
(10)
|
(12)
|
(18)
|
(23)
|
(22)
|
(26)
|
(22)
|
(21)
|
(26)
|
(26)
|
(31)
|
(34)
|
(34)
|
(39)
|
(44)
|
(49)
|
(51)
|
(54)
|
(56)
|
(59)
|
(61)
|
(62)
|
(68)
|
(73)
|
(75)
|
(74)
|
(78)
|
(83)
|
(83)
|
(83)
|
(88)
|
(81)
|
(79)
|
(85)
|
(91)
|
(88)
|
(86)
|
(74)
|
(58)
|
(53)
|
(53)
|
(59)
|
(58)
|
(70)
|
(71)
|
(69)
|
(76)
|
(73)
|
(73)
|
(72)
|
(71)
|
(71)
|
(64)
|
(58)
|
(55)
|
(53)
|
(53)
|
(56)
|
(55)
|
(58)
|
(61)
|
(63)
|
(65)
|
(65)
|
(66)
|
(61)
|
(64)
|
|
| Income from Continuing Operations |
1
|
2
|
1
|
1
|
2
|
2
|
4
|
6
|
7
|
10
|
16
|
18
|
27
|
34
|
33
|
40
|
35
|
33
|
39
|
42
|
51
|
56
|
58
|
64
|
69
|
76
|
79
|
83
|
89
|
94
|
98
|
105
|
112
|
119
|
122
|
126
|
131
|
141
|
143
|
139
|
149
|
161
|
173
|
183
|
193
|
210
|
217
|
211
|
229
|
229
|
234
|
258
|
259
|
257
|
253
|
247
|
257
|
264
|
266
|
262
|
260
|
240
|
216
|
199
|
185
|
186
|
190
|
195
|
205
|
213
|
219
|
225
|
226
|
230
|
237
|
211
|
216
|
|
| Net Income (Common) |
0
N/A
|
2
+1 800%
|
1
-63%
|
0
-43%
|
1
+200%
|
1
-25%
|
3
+233%
|
5
+70%
|
6
+12%
|
9
+56%
|
16
+76%
|
18
+13%
|
27
+54%
|
34
+23%
|
33
-3%
|
40
+22%
|
35
-12%
|
33
-6%
|
39
+19%
|
42
+6%
|
51
+21%
|
56
+10%
|
58
+5%
|
64
+10%
|
69
+9%
|
76
+9%
|
79
+5%
|
83
+5%
|
89
+6%
|
94
+6%
|
98
+4%
|
105
+7%
|
112
+7%
|
119
+7%
|
122
+2%
|
126
+4%
|
131
+4%
|
141
+7%
|
143
+1%
|
139
-3%
|
149
+7%
|
161
+8%
|
173
+8%
|
183
+6%
|
203
+11%
|
221
+9%
|
227
+3%
|
222
-2%
|
229
+3%
|
229
0%
|
234
+2%
|
258
+10%
|
259
+0%
|
257
-1%
|
253
-2%
|
247
-2%
|
257
+4%
|
264
+3%
|
266
+1%
|
262
-2%
|
260
-1%
|
240
-8%
|
216
-10%
|
199
-8%
|
185
-7%
|
186
+1%
|
190
+2%
|
195
+3%
|
205
+5%
|
213
+4%
|
219
+3%
|
225
+3%
|
226
+1%
|
230
+2%
|
237
+3%
|
211
-11%
|
216
+2%
|
|
| EPS (Diluted) |
0
N/A
|
0.05
N/A
|
0.03
-40%
|
0.02
-33%
|
0.03
+50%
|
0.02
-33%
|
0.09
+350%
|
0.17
+89%
|
0.17
N/A
|
0.19
+12%
|
0.34
+79%
|
0.4
+18%
|
0.6
+50%
|
0.74
+23%
|
0.71
-4%
|
0.86
+21%
|
0.76
-12%
|
0.71
-7%
|
0.86
+21%
|
0.92
+7%
|
1.12
+22%
|
1.24
+11%
|
1.3
+5%
|
1.42
+9%
|
1.53
+8%
|
1.68
+10%
|
1.72
+2%
|
1.79
+4%
|
1.92
+7%
|
2.03
+6%
|
2.1
+3%
|
2.23
+6%
|
2.37
+6%
|
2.53
+7%
|
2.59
+2%
|
2.67
+3%
|
2.78
+4%
|
2.99
+8%
|
3.03
+1%
|
2.95
-3%
|
3.15
+7%
|
3.34
+6%
|
3.58
+7%
|
3.78
+6%
|
4.21
+11%
|
4.56
+8%
|
4.69
+3%
|
4.58
-2%
|
4.73
+3%
|
4.73
N/A
|
4.84
+2%
|
5.34
+10%
|
5.37
+1%
|
5.38
+0%
|
5.36
0%
|
5.24
-2%
|
5.45
+4%
|
5.69
+4%
|
5.84
+3%
|
5.91
+1%
|
5.92
+0%
|
6.88
+16%
|
6.78
-1%
|
6.33
-7%
|
5.73
-9%
|
6.07
+6%
|
6.25
+3%
|
6.52
+4%
|
6.8
+4%
|
7.2
+6%
|
7.45
+3%
|
7.71
+3%
|
7.73
+0%
|
8.07
+4%
|
8.4
+4%
|
7.57
-10%
|
7.71
+2%
|
|