Grand Canyon Education, Inc. income statement

In fiscal 2025, Grand Canyon Education, Inc. reported revenue of $1.11bn, up 7.1% on the year before, operating income of $266m (a 24.0% margin) and net income of $216m, or $7.71 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Grand Canyon Education, Inc.: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	262	386	427	511	598	691	778	873	974	846	779	844	897	911	961	1,033	1,106	1,142
Selling and marketing	85	112	120	141	—	—	—	—	—	—	—	—	—	—	—	—	—	—
General and administrative	22	27	29	36	37	40	42	28	27	30	44	43	42	45	43	46	47	46
Operating income	47	58	82	114	143	181	210	237	283	258	265	277	282	238	249	275	266	280
Interest expense	2	1	1	1	2	2	1	1	2	2	11	4	4	0	0	0	—	—
Provision for credit losses	—	—	—	—	—	—	—	—	—	9	—	—	5	—	—	—	—	—
Income before tax	45	57	82	113	145	180	209	236	284	287	318	333	331	240	260	291	280	293
Income tax	18	22	31	44	56	68	78	88	80	58	58	76	71	55	55	65	64	69
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
Diluted shares (average)	46m	46m	45m	45m	46m	47m	47m	47m	48m	48m	48m	47m	44m	32m	30m	29m	28m	27m
EBITDA	55	70	99	136	169	210	246	282	336	294	284	298	304	260	272	303	297	—

US$ millions unless shown otherwise. Fiscal quarters.

Grand Canyon Education, Inc.: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	238	293	289	247	261	308	309	264
General and administrative	14	11	10	11	15	10	10	10
Operating income	48	100	88	52	18	108	95	58
Interest expense	0	0	—	—	—	—	—	—
Income before tax	52	104	91	55	22	112	98	61
Income tax	11	22	20	13	5	25	23	15
Net income	41	82	72	42	16	87	75	46
Diluted EPS	$1.42	$2.82	$2.52	$1.48	$0.58	$3.11	$2.80	$1.75

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Grand Canyon Education, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Grand Canyon Education, Inc.