Grand Canyon Education, Inc. (LOPE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+53.0%

$228.91

vs $149.65 price

Levered DCF

$248.59

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

16.2

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	21.43×	21.08×	19.33×	18.38×	14.43×	16.96×	17.67×	19.99×
P/B	6.2×	6.08×	5.52×	5.32×	3.6×	2.77×	3.17×	3.77×
P/S	4.19×	4.61×	4.12×	3.73×	4.19×	5.17×	5.88×	5.41×
EV / EBITDA	14.77×	13.88×	13.41×	12.36×	8.81×	11.69×	13.01×	13.93×
Gross margin	53.2%	52.7%	52.4%	53.5%	57.5%	58.5%	59.7%	50.1%
Operating margin	27.4%	26.7%	25.9%	26.1%	31.5%	32.9%	34.1%	30.5%
Net margin	19.5%	21.9%	21.3%	20.3%	29.0%	30.5%	33.3%	27.1%
Current ratio	3.65×	3.78×	3.48×	2.74×	6.95×	2.81×	2.19×	3.84×
Debt / equity	0.27×	0.14×	0.14×	0.12×	0.06×	0.11×	0.12×	0.05×
Interest coverage	0×	68,849.75×	7,553.21×	118,750×	78.36×	63.03×	23.44×	168.07×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	28.9%	28.9%	28.5%	29.0%	24.9%	16.3%	18.0%	18.9%
Return on invested capital	26.1%	23.2%	23.3%	24.6%	19.6%	12.1%	13.3%	16.1%
Return on assets	21.8%	22.2%	22.0%	22.2%	21.3%	13.9%	15.3%	17.3%
Free cash flow yield	5.1%	5.3%	5.0%	5.5%	7.6%	6.4%	6.2%	2.3%
Earnings yield	4.7%	4.7%	5.2%	5.4%	6.9%	5.9%	5.7%	5.0%
Enterprise value	$4.7B	$4.6B	$3.9B	$3.4B	$3.2B	$4.3B	$4.6B	$4.5B
Net debt / EBITDA	0.28×	-0.66×	-0.16×	-0.16×	-1.48×	-0.2×	0.13×	-0.19×
Cash conversion cycle (days)	11	10	16	15	6	12	9	63