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Grand Canyon Education, Inc. (LOPE) stock

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NASDAQ: LOPE Nasdaq Education Services Next results ~November 4, 2026

B+ Fundamentals grade

Grand Canyon Education, Inc. is a US-listed company in the education services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$210

Cash-flow model

Base case. Range ~$160–$280 across our lower- and higher-growth cases (2.1%–12.1% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 45% above it.

Price used: $147.78, November 3, 2026

Grand Canyon Education, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds200 adding, 259 cuttingOf 64 active managers that changed their stake, 46 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Grand Canyon Education files

Where Grand Canyon Education stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.14bn, up 7.0% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 21.2% from 24.5% a year earlier. Operating margin narrowed to 24.5% from 27.0%. The diluted share count is down 5.3% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $209 a share, against a share price of $162. At that price, our model says the market is pricing in about 2.4% a year of cash-flow growth for five years, slower than the 5.0% a year revenue growth it has delivered.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Grand Canyon Education, Inc.'s trailing-twelve-month revenue grew 7.0% year on year, with a free-cash-flow margin of 21.2%. Where it stands out: operating margin of 24.5% ranks 4 of 25 education services companies we cover.

Our discounted-cash-flow model values the business at ~$210 per share in the base case (~$160–$280 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 8% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $149.65 is 43% below our value per share of $210.
  • Strong cash generation. 21.2% of revenue turned into free cash flow, against a median of 5.8% for education services companies we cover.
  • Shrinking share count. Diluted shares fell 5.3% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Weakest spot: revenue growth. Revenue growth of 7.0% ranks 14 of 25 education services companies we cover (median 7.5%).

Latest results: FY2026 Q2

Filed July 30, 2026
Earnings per share
$1.81 against an average estimate of $1.67: beat by 8.2%
Revenue
$264m, up 6.7% on a year earlier
Share reaction
-8.8% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Guidance given
service revenue $268.5m to $270.5m (Q3 2026); operating margin 19.5% to 20% (Q3 2026)
Next report
November 4, 2026; average EPS estimate $1.76

Grand Canyon Education's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.2%
  • 1 week-6.1%
  • 1 month-5.1%
  • This year-10.0%
  • 1 year-19.4%
  • 5 years+79.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.1B
Operating margin
24.5%
Net margin
19.6%
EPS (TTM, diluted)
$8.26

Growth

Revenue growth
+7.0%
Change in growth rate
−0.5 pts
Share count change
−5.3%

Cash

Free cash flow (TTM)
$243M
FCF margin
21.2%
Stock pay % of revenue
1.2%

Earnings

Last results
July 30, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Leadership
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Grand Canyon Education, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 0.1% a year for five years.That is slower than the 5.0% a year revenue growth Grand Canyon Education has delivered.

  • Priced in-0.1%
  • Last 12 months7.0%
  • 3 years a year7.2%
  • 5 years a year5.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($147.69, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$210
Price used
$147.69close November 3, 2026
Implied change
▲ +45%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Grand Canyon Education, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($244M, FY2026 Q2 TTM), growing 6% and 6.8% in the next two years (forecasts, guidance and its record), then back to 7.1% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$160–~$280 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Grand Canyon Education, Inc.'s free cash flow after stock-based pay ( $244M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Grand Canyon Education, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$210 ~$160–$280 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$89–$160 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$240 ~$170–$360 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$120 ~$100–$140 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$180 ~$110–$240 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Grand Canyon Education, Inc. with Education Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▼ −13%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $145$193$257$341$450$592
8.5% $113$148$194$254$332$433
10% $94$121$157$203$262$338

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$40.12$58.45$89.53$96.14$95.79$93.11$85.71$105.66$132.04$163.80$166.31$149.65
Market value$1.9bn$2.8bn$4.3bn$4.7bn$4.6bn$4.4bn$3.8bn$3.4bn$4.0bn$4.8bn$4.7bn$4.1bn
+ Net debt (− = net cash)$57m$52m−$87m−$60m$52m−$105m−$540m−$41m−$146m−$325m−$112m−$171m
Enterprise value$2.0bn$2.8bn$4.2bn$4.6bn$4.7bn$4.3bn$3.2bn$3.4bn$3.8bn$4.5bn$4.5bn$3.9bn
Multiples
Price / sales 2.4x3.2x4.4x5.5x5.9x5.2x4.2x3.7x4.1x4.6x4.2x3.6x
Price / earnings 14.4x18.5x21.2x20.3x17.8x17.1x14.5x18.4x19.4x21.2x21.6x18.1x
Price / free cash flow —46.3x22.6x44.5x16.3x15.7x13.3x18.4x20.0x19.0x19.5x16.7x
EV / EBITDA 7.9x10.0x12.6x15.6x16.5x14.4x10.6x13.0x14.1x14.7x15.3x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

94 /100

Strong moat

How hard Grand Canyon Education's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 19.2% of total assets over 10 years.

  • Durability 19 / 20

    Operating margin has been a median 28.2%; its worst year was 24.5%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 23.5% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 41.5% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (99 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $270m and EPS of $1.76 (range $1.76 to $1.77) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $10.21 +13% $1.2bn +6%
Next $11.31 +11% $1.2bn +6%

Next year's EPS estimate has moved +1.3% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.4% on 90 days ago. In the last 30 days, 0 analysts raised Grand Canyon Education, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Grand Canyon Education, Inc., last 90 days
$10.00 $10.50 $11.00 $11.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $10.07 Current fiscal year, 60 days ago: $10.23 Current fiscal year, 30 days ago: $10.21 Current fiscal year, 7 days ago: $10.21 Current fiscal year, Now: $10.21 $10.21 Next fiscal year, 90 days ago: $11.16 Next fiscal year, 60 days ago: $11.32 Next fiscal year, 30 days ago: $11.31 Next fiscal year, 7 days ago: $11.31 Next fiscal year, Now: $11.31 $11.31

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $10.07$11.16
60 days ago $10.23$11.32
30 days ago $10.21$11.31
7 days ago $10.21$11.31
Now $10.21$11.31

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.67 $1.81 +8.2%
Mar 2026 $2.78 $2.86 +2.9%
Dec 2025 $3.19 $3.21 +0.5%
Sept 2025 $1.78 $1.78 0.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026
  • Service revenue Full Year 2026 $1,165m to $1,172m
    “Service revenue of between $1,165.3 million and $1,172.3 million;” source
  • Service revenue Q3 2026 $269m to $271m
    “Service revenue of between $268.5 million and $270.5 million;” source
  • Service revenue Q4 2026 $324m to $329m
    “Service revenue of between $324.0 million and $329.0 million;” source
  • Diluted EPS Full Year 2026 $9.93 to $10.07
    “Diluted EPS between $9.93 and $10.07; and” source
  • As adjusted, non-GAAP diluted income per share Full Year 2026 $10.18 to $10.32 Non-GAAP
    “Thus, as adjusted, non-GAAP diluted income per share of between $10.18 and $10.32.” source
  • Diluted EPS Q3 2026 $1.68 to $1.72
    “Diluted EPS of between $1.68 and $1.72; and” source
Show 12 more items
  • As adjusted, non-GAAP diluted income per share Q3 2026 $1.74 to $1.78 Non-GAAP
    “Thus, as adjusted, non-GAAP diluted income per share of between $1.74 and $1.78.” source
  • Diluted EPS Q4 2026 $3.69 to $3.79
    “Diluted EPS of between $3.69 and $3.79; and” source
  • As adjusted, non-GAAP diluted income per share Q4 2026 $3.75 to $3.85 Non-GAAP
    “Thus, as adjusted, non-GAAP diluted income per share of between $3.75 and $3.85.” source
  • Operating margin Full Year 2026 28% to 28.2%
    “Operating margin of between 28.0% and 28.2%;” source
  • Operating margin Q3 2026 19.5% to 20%
    “Operating margin of between 19.5% and 20.0%;” source
  • Operating margin Q4 2026 36.9% to 37.4%
    “Operating margin of between 36.9% and 37.4%;” source
  • Effective tax rate Full Year 2026 about 23.2%
    “Effective tax rate of 23.2%;” source
  • diluted shares Full Year 2026 about 26.1m
    “26.1 million diluted shares.” source
  • Effective tax rate Q3 2026 about 20.8%
    “Effective tax rate of 20.8%;” source
  • diluted shares Q3 2026 about 25.8m
    “25.8 million diluted shares.” source
  • Effective tax rate Q4 2026 about 23.2%
    “Effective tax rate of 23.2%;” source
  • diluted shares Q4 2026 about 25.4m
    “25.4 million diluted shares.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Grand Canyon Education, Inc.'s revenue by +6.0% next year and +6.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+5.4%, weight 46%) , management guidance (+5.5%, weight 23%) and the company's own record (+7.1%, weight 31%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026123
  2. Sep 2026123
  3. Aug 2026123
  4. Jul 2026123

Counts of recommendations published by analysts covering Grand Canyon Education, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.7%
of tradable shares
Days to cover
7.23
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.2%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −20.5%

$188.30 on October 31, 2025 to $149.65

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.1bn +7.0%
Net margin 22.2% 19.6% −11.4%
P/E multiple 22.8x 18.1x −20.6%
Share count 29m 27m +5.6%

Biggest factor: p/e multiple.

Last 3 years +9.2%

$137.07 on November 3, 2023 to $149.65

ThenNowEffect
Revenue (last 12 months) $928m $1.1bn +23.1%
Net margin 20.4% 19.6% −3.9%
P/E multiple 22.3x 18.1x −18.6%
Share count 31m 27m +13.4%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LOPE−8%+23%+25%+24%+2%−10%
Industry peers (median)−20%−10%+25%+15%−3%−8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LOPE42%58%58%42%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LOPE−39%−22%−16%−15%−32%−24%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 55% from August 22, 2019 to March 18, 2020. Getting back needed a 121% gain, reached on November 3, 2023, 1325 days after the low.

Price behaviour

52-week range
$136.72 – $184.86
From 52-week high
−19.0%
vs 50-day average
−2.7%
vs 200-day average
−4.9%
Volatility (1 year)
30%
Beta vs S&P 500
0.02

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±7.5%
After a week
5 up, 7 down
typical move ±7.6%
After a month
6 up, 6 down
typical move ±9.2%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −8.8% +2.4% −6.6% −5.1%
April 30, 2026 −3.5% +1.3% −2.8% −10.0%
February 18, 2026 −4.8% +0.2% −3.4% +1.3%
November 5, 2025 −9.6% −0.7% −8.1% −17.0%
August 6, 2025 +16.1% +0.7% +18.1% +21.8%
May 6, 2025 +4.3% −0.4% +4.8% +2.4%
February 19, 2025 +0.9% −0.2% −3.3% −8.3%
November 6, 2024 +17.0% +3.3% +20.5% +20.1%
August 6, 2024 −3.5% +0.2% −2.9% −3.5%
May 7, 2024 +6.3% +0.1% +4.5% +4.2%
February 13, 2024 +0.5% −0.5% −2.3% −0.3%
November 2, 2023 +14.2% +2.8% +14.4% +15.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Grand Canyon Education, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: no liquid put with an effective price at or below fair value.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Grand Canyon Education, Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Grand Canyon Education, Inc.
$900M $1B $1.1B $1.2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $941.3M Revenue (TTM), FY23 Q4: $960.9M Revenue (TTM), FY24 Q1: $985.4M Revenue (TTM), FY24 Q2: $1B Revenue (TTM), FY24 Q3: $1B Revenue (TTM), FY24 Q4: $1B Revenue (TTM), FY25 Q1: $1B Revenue (TTM), FY25 Q2: $1.1B Revenue (TTM), FY25 Q3: $1.1B Revenue (TTM), FY25 Q4: $1.1B Revenue (TTM), FY26 Q1: $1.1B Revenue (TTM), FY26 Q2: $1.1B $1.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $941.3M
FY23 Q4 $960.9M
FY24 Q1 $985.4M
FY24 Q2 $1B
FY24 Q3 $1B
FY24 Q4 $1B
FY25 Q1 $1B
FY25 Q2 $1.1B
FY25 Q3 $1.1B
FY25 Q4 $1.1B
FY26 Q1 $1.1B
FY26 Q2 $1.1B
Revenue growth, TTM YoY Grand Canyon Education, Inc.
4% 6% 8% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 4.1% Revenue growth, TTM YoY, FY23 Q4: 5.4% Revenue growth, TTM YoY, FY24 Q1: 7.4% Revenue growth, TTM YoY, FY24 Q2: 8.0% Revenue growth, TTM YoY, FY24 Q3: 8.2% Revenue growth, TTM YoY, FY24 Q4: 7.5% Revenue growth, TTM YoY, FY25 Q1: 6.3% Revenue growth, TTM YoY, FY25 Q2: 6.5% Revenue growth, TTM YoY, FY25 Q3: 7.0% Revenue growth, TTM YoY, FY25 Q4: 7.1% Revenue growth, TTM YoY, FY26 Q1: 7.4% Revenue growth, TTM YoY, FY26 Q2: 7.0% 7.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 4.1%
FY23 Q4 5.4%
FY24 Q1 7.4%
FY24 Q2 8.0%
FY24 Q3 8.2%
FY24 Q4 7.5%
FY25 Q1 6.3%
FY25 Q2 6.5%
FY25 Q3 7.0%
FY25 Q4 7.1%
FY26 Q1 7.4%
FY26 Q2 7.0%
Operating margin (TTM) Grand Canyon Education, Inc.
23% 24% 25% 26% 27% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 25.7% Operating margin (TTM), FY23 Q4: 25.9% Operating margin (TTM), FY24 Q1: 26.3% Operating margin (TTM), FY24 Q2: 26.6% Operating margin (TTM), FY24 Q3: 26.8% Operating margin (TTM), FY24 Q4: 26.7% Operating margin (TTM), FY25 Q1: 26.6% Operating margin (TTM), FY25 Q2: 27.0% Operating margin (TTM), FY25 Q3: 23.6% Operating margin (TTM), FY25 Q4: 24.0% Operating margin (TTM), FY26 Q1: 24.3% Operating margin (TTM), FY26 Q2: 24.5% 24.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 25.7%
FY23 Q4 25.9%
FY24 Q1 26.3%
FY24 Q2 26.6%
FY24 Q3 26.8%
FY24 Q4 26.7%
FY25 Q1 26.6%
FY25 Q2 27.0%
FY25 Q3 23.6%
FY25 Q4 24.0%
FY26 Q1 24.3%
FY26 Q2 24.5%
FCF margin (TTM) Grand Canyon Education, Inc.
20% 21% 22% 23% 24% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 20.7% FCF margin (TTM), FY23 Q4: 20.7% FCF margin (TTM), FY24 Q1: 22.4% FCF margin (TTM), FY24 Q2: 22.5% FCF margin (TTM), FY24 Q3: 22.8% FCF margin (TTM), FY24 Q4: 24.5% FCF margin (TTM), FY25 Q1: 22.5% FCF margin (TTM), FY25 Q2: 24.5% FCF margin (TTM), FY25 Q3: 22.2% FCF margin (TTM), FY25 Q4: 21.6% FCF margin (TTM), FY26 Q1: 23.1% FCF margin (TTM), FY26 Q2: 21.2% 21.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 20.7%
FY23 Q4 20.7%
FY24 Q1 22.4%
FY24 Q2 22.5%
FY24 Q3 22.8%
FY24 Q4 24.5%
FY25 Q1 22.5%
FY25 Q2 24.5%
FY25 Q3 22.2%
FY25 Q4 21.6%
FY26 Q1 23.1%
FY26 Q2 21.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Grand Canyon Education took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.1B
  2. Other income $13.9M · 1.3%
  3. Selling, general and admin $47.4M · 4.3%
  4. Other operating costs $793M · 71.7%
  5. Operating income $266M · 24.0%
  6. Income tax $63.7M · 5.8%
  7. Net income $216M · 19.5%

Shares of revenue. Source: Grand Canyon Education's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 262 386 427 511 598 691 778 873 974 846 779 844 897 911 961 1,033 1,106 1,142
EBITDA 55 70 99 136 169 210 246 282 336 294 284 298 304 260 272 303 297 —
Operating income 47 58 82 114 143 181 210 237 283 258 265 277 282 238 249 275 266 280
Net income 27 35 51 69 89 111 131 149 203 229 259 257 260 185 205 226 216 224
Diluted EPS $0.60 $0.76 $1.12 $1.53 $1.92 $2.37 $2.78 $3.15 $4.22 $4.73 $5.37 $5.45 $5.92 $5.73 $6.80 $7.73 $7.71 $8.26
Growth (year on year)
Revenue — +47.2% +10.7% +19.8% +17.0% +15.5% +12.6% +12.2% +11.5% −13.2% −7.9% +8.4% +6.2% +1.6% +5.4% +7.5% +7.1% +7.0%
EBITDA — +28.9% +41.1% +37.1% +24.1% +24.6% +17.0% +14.6% +19.3% −12.7% −3.5% +5.2% +1.8% −14.5% +4.9% +11.3% −2.0% —
Operating income — +24.9% +41.2% +38.8% +25.6% +26.2% +16.3% +12.8% +19.2% −8.7% +2.7% +4.6% +1.7% −15.8% +4.9% +10.5% −3.4% −2.9%
Net income — +28.9% +43.6% +37.4% +27.7% +25.7% +17.9% +13.0% +36.9% +12.6% +13.2% −0.8% +1.2% −29.1% +11.0% +10.4% −4.4% −5.2%
Diluted EPS — +26.7% +47.4% +36.6% +25.5% +23.4% +17.3% +13.3% +34.0% +12.1% +13.5% +1.5% +8.6% −3.2% +18.7% +13.7% −0.3% +0.1%
Margins
EBITDA margin 20.8% 18.2% 23.2% 26.6% 28.2% 30.4% 31.6% 32.3% 34.5% 34.7% 36.4% 35.3% 33.9% 28.5% 28.3% 29.3% 26.9% —
Operating margin 17.8% 15.1% 19.3% 22.3% 23.9% 26.2% 27.0% 27.2% 29.0% 30.5% 34.1% 32.9% 31.5% 26.1% 25.9% 26.7% 24.0% 24.5%
Net margin 10.4% 9.1% 11.8% 13.6% 14.8% 16.1% 16.9% 17.0% 20.9% 27.1% 33.3% 30.5% 29.0% 20.3% 21.3% 21.9% 19.5% 19.6%
Free-cash-flow margin 0.3% −5.8% 1.7% 9.1% 6.6% −0.2% −2.5% 6.8% 19.6% 12.4% 36.5% 33.1% 31.7% 20.4% 20.7% 24.5% 21.6% 21.2%
Cash flow
Cash from operations 61 40 88 144 118 167 185 238 305 199 306 309 313 221 244 290 273 279
Capital spending 60 63 81 98 79 169 205 178 114 95 22 29 29 35 45 37 35 36
Free cash flow 1 −22 7 47 40 −2 −20 59 191 105 284 279 284 186 199 253 239 243
Stock-based pay 3 5 6 8 10 10 11 12 13 20 10 11 12 13 13 14 14 14
Free cash flow after stock pay −3 −27 1 39 30 −12 −31 47 179 85 274 269 273 173 186 238 225 229
Balance sheet
Cash 63 34 21 105 56 65 23 46 153 120 122 246 601 120 146 325 112 171
Total debt 0 24 23 106 100 86 80 98 67 60 174 141 61 79 0 0 0 0
Net debt (negative = net cash) −63 −10 2 1 44 21 57 52 −87 −60 52 −105 −540 −41 −146 −325 −112 −171
Diluted shares 46m 46m 45m 45m 46m 47m 47m 47m 48m 48m 48m 47m 44m 32m 30m 29m 28m 27m
Returned to shareholders
Buybacks 14 1 23 15 9 5 16 20 11 25 44 134 804 604 137 173 265 343
Total returned 14 1 23 15 9 5 16 20 11 25 44 134 804 604 137 173 265 343

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $919m
Short-term assets $331mLonger-term assets $588m
What it owes, and who funded it · $919m
Short-term liabilities $118mLonger-term liabilities $132mShareholders' equity $670m
  • Short-term assets cover short-term liabilities $331m of assets due within a year against $118m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $331m short-term assets against $132m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Grand Canyon Education, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$343M
Returned to shareholders
141%
of free cash flow
Buybacks, last 3 fiscal years
$575M
Diluted share count
−5.3%
year over year
Total shareholder yield
8.7%
dividends 0.0% + buybacks 8.7% of market value
Days sales outstanding
11 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in education services
Last 12 months unless stated LOPE STRA UTI PRDO LAUR AFYA Median
Revenue, last 12 months $1.1bn $1.3bn $884m $859m $1.9bn $662m $266m
Revenue growth, last 12 months 7.0% 3.5% 9.1% 11.7% 20.9% 7.5% 7.5%
Revenue growth, 3-year average 7.2% 6.1% 17.3% 5.7% 10.5% — 10.3%
Revenue growth, latest quarter 6.7% 4.9% 7.2% 1.8% 21.2% — 5.8%
Gross margin — — — — 28.6% 64.5% 54.6%
Operating margin 24.5% 14.0% 5.0% 24.6% 25.8% 32.8% 5.0%
Operating margin, 3-year average 26.0% 13.5% 7.2% 23.8% 24.2% 27.1% 5.9%
Net margin 19.6% 10.5% 3.9% 20.6% 20.3% 20.4% 3.9%
Cash from operations / revenue 24.4% 16.8% 8.4% 26.2% 21.8% 41.4% 8.4%
Free-cash-flow margin 21.2% 13.1% −2.6% 25.4% 15.0% 36.9% 5.8%
Free-cash-flow margin, 3-year average 22.7% 11.6% 4.5% 24.1% 14.2% 25.7% 5.4%
Stock pay / revenue 1.2% 1.7% 1.4% 1.5% 0.7% 0.4% 1.4%
Change in share count −5.3% −6.2% 0.3% −3.8% −3.7% 0.1% 0.7%

Median of all 25 companies we cover in education services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 education services companies
Measure Company Peer median Rank
Revenue growth Growth 7.0% 7.5% 14 of 25
Change in growth rate Growth -0.5pp -0.5pp 13 of 25
Operating margin Profitability 24.5% 5.0% 4 of 25
Net margin Profitability 19.6% 3.9% 4 of 25
Free-cash-flow margin Cash generation 21.2% 5.8% 4 of 25
Stock pay as % of revenue Cash generation 1.2% 1.4% 8 of 21
Change in share count Balance sheet -5.3% 0.7% 6 of 24
Days sales outstanding Balance sheet 11 days 29 days 4 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$3.8B
Institutions reporting
442
Shares held vs prior quarter
▼ 0.3%
Positions opened / closed
54 / 78

Top buyers and sellers, Q2 2026: 200 institutions bought and 259 sold ; the biggest buyer was Qube Research & Technologies Ltd (+321K shares) and the biggest seller FMR LLC (−637K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $398M 2.8M 10.4% ▼ 1.2%
FMR LLC $293M 2.0M 7.6% ▼ 23.7%
Vanguard Portfolio Management LLC $183M 1.3M 4.8% ▼ 1.1%
Vanguard Capital Management LLC $171M 1.2M 4.5% ▼ 2.6%
William Blair Investment Management, LLC $149M 1.0M 3.9% ▲ 6.0%
Reinhart Partners, Llc. $126M 883K 3.3% ▲ 36.9%
State Street Corp $121M 849K 3.2% ▼ 1.3%
Dimensional Fund Advisors LP $89.7M 627K 2.3% ▲ 0.8%
Gw&K Investment Management, LLC $88.3M 617K 2.3% ▼ 14.8%
Riverbridge Partners LLC $79.5M 556K 2.1% ▼ 22.5%
Van Berkom & Associates Inc. $78M 545K 2.0% ▼ 53.5%
Geode Capital Management, LLC $77.6M 542K 2.0% ▼ 4.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Grand Canyon Education, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $99,690 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $99,690 net selling
Insider Date Trade Shares Price Value
Humphrey Chevy Director November 11, 2025 Sell 600 $166.15 $99,690

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 12 trades and filings

No trades in Grand Canyon Education, Inc. disclosed in the last 12 months; 12 earlier trades on record.

  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded May 6, 2024, filed June 8, 2024
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded January 9, 2024, filed February 15, 2024
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded December 20, 2023, filed January 7, 2024

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 30, 2026 estimated from the company's past filing pattern, not announced

  • July 30, 2026
  • April 30, 2026
  • February 18, 2026
  • November 5, 2025
  • August 6, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Grand Canyon Education, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Grand Canyon Education, Inc. in brief

What does Grand Canyon Education, Inc. do?
Grand Canyon Education, Inc. is a US-listed company in the education services industry. Its financial year ends in December.
What is Grand Canyon Education, Inc.'s stock ticker?
Grand Canyon Education, Inc. trades under the ticker LOPE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Grand Canyon Education, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Grand Canyon Education, Inc. reported revenue of $1.1B, 7.0% higher than a year earlier, according to its SEC filings.
What is Grand Canyon Education, Inc.'s free cash flow?
Grand Canyon Education, Inc.'s free-cash-flow margin is 21.2% of revenue over the trailing twelve months, ranking 4 of the 25 education services companies we cover.
What is Grand Canyon Education, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Grand Canyon Education, Inc.'s free cash flow after stock-based pay gives ~$210 per share in the base case, and ~$160–$280 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Grand Canyon Education, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Grand Canyon Education, Inc. buying back stock, and does it pay a dividend?
Grand Canyon Education, Inc. spent $343M on share repurchases over the trailing twelve months, and its diluted share count fell 5.3% over the year.
What is Grand Canyon Education, Inc.'s market cap?
On November 2, 2026, Grand Canyon Education, Inc.'s market capitalisation was about $4.1B, with a price-to-earnings ratio of 18.1 and net debt of -$171M. Market figures come from third-party market data and may be delayed.
Who are Grand Canyon Education, Inc.'s competitors?
In our Education Services peer group, the companies closest to Grand Canyon Education, Inc. are Strategic Education, Inc., Universal Technical Institute Inc, Perdoceo Education Corp, Laureate Education, Inc. and Afya Ltd. The side-by-side comparison below sets their revenue, margins and growth against Grand Canyon Education, Inc.'s.
Are insiders buying or selling Grand Canyon Education, Inc. stock?
Over the last 12 months, Grand Canyon Education, Inc.'s directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Grand Canyon Education, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Grand Canyon Education, Inc. announces its own schedule.