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LOPE (Grand Canyon Education) Piotroski F-Score : 7 (As of Mar. 17, 2025)


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What is Grand Canyon Education Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Grand Canyon Education has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Grand Canyon Education's Piotroski F-Score or its related term are showing as below:

LOPE' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Grand Canyon Education was 7. The lowest was 4. And the median was 6.


Grand Canyon Education Piotroski F-Score Historical Data

The historical data trend for Grand Canyon Education's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Grand Canyon Education Piotroski F-Score Chart

Grand Canyon Education Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 6.00 7.00 7.00

Grand Canyon Education Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 7.00 7.00 8.00 7.00

Competitive Comparison of Grand Canyon Education's Piotroski F-Score

For the Education & Training Services subindustry, Grand Canyon Education's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Grand Canyon Education's Piotroski F-Score Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Grand Canyon Education's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Grand Canyon Education's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 68.01 + 34.878 + 41.467 + 81.879 = $226 Mil.
Cash Flow from Operations was 84.963 + 98.563 + -29.385 + 135.817 = $290 Mil.
Revenue was 274.675 + 227.463 + 238.291 + 292.573 = $1,033 Mil.
Gross Profit was 152.666 + 108.355 + 119.17 + 164.242 = $544 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(930.463 + 1035.571 + 992.691 + 992.926 + 1018.425) / 5 = $994.0152 Mil.
Total Assets at the begining of this year (Dec23) was $930 Mil.
Long-Term Debt & Capital Lease Obligation was $96 Mil.
Total Current Assets was $420 Mil.
Total Current Liabilities was $111 Mil.
Net Income was 59.564 + 28.973 + 35.739 + 80.709 = $205 Mil.

Revenue was 250.125 + 210.577 + 221.913 + 278.284 = $961 Mil.
Gross Profit was 139.264 + 99.228 + 108.915 + 156.303 = $504 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(832.749 + 874.021 + 846.217 + 863.156 + 930.463) / 5 = $869.3212 Mil.
Total Assets at the begining of last year (Dec22) was $833 Mil.
Long-Term Debt & Capital Lease Obligation was $88 Mil.
Total Current Assets was $338 Mil.
Total Current Liabilities was $97 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Grand Canyon Education's current Net Income (TTM) was 226. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Grand Canyon Education's current Cash Flow from Operations (TTM) was 290. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec23)
=226.234/930.463
=0.24314132

ROA (Last Year)=Net Income/Total Assets (Dec22)
=204.985/832.749
=0.2461546

Grand Canyon Education's return on assets of this year was 0.24314132. Grand Canyon Education's return on assets of last year was 0.2461546. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Grand Canyon Education's current Net Income (TTM) was 226. Grand Canyon Education's current Cash Flow from Operations (TTM) was 290. ==> 290 > 226 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=95.635/994.0152
=0.0962108

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=88.257/869.3212
=0.10152404

Grand Canyon Education's gearing of this year was 0.0962108. Grand Canyon Education's gearing of last year was 0.10152404. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec24)=Total Current Assets/Total Current Liabilities
=419.976/110.966
=3.78472685

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=337.522/97.033
=3.47842487

Grand Canyon Education's current ratio of this year was 3.78472685. Grand Canyon Education's current ratio of last year was 3.47842487. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Grand Canyon Education's number of shares in issue this year was 28.869. Grand Canyon Education's number of shares in issue last year was 29.757. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=544.433/1033.002
=0.52703964

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=503.71/960.899
=0.52420702

Grand Canyon Education's gross margin of this year was 0.52703964. Grand Canyon Education's gross margin of last year was 0.52420702. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec23)
=1033.002/930.463
=1.11020213

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=960.899/832.749
=1.15388791

Grand Canyon Education's asset turnover of this year was 1.11020213. Grand Canyon Education's asset turnover of last year was 1.15388791. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+1+1+1+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Grand Canyon Education has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Grand Canyon Education  (NAS:LOPE) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Grand Canyon Education Piotroski F-Score Related Terms

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Grand Canyon Education Business Description

Traded in Other Exchanges
Address
2600 West Camelback Road, Phoenix, AZ, USA, 85017
Grand Canyon Education Inc is a publicly traded education services company dedicated to serving colleges and universities. GCE's university partner is Grand Canyon University, an Arizona non-profit corporation that operates a comprehensive regionally accredited university that offers graduate and undergraduate degree programs, emphases and certificates across nine colleges both online, on ground at its campus in Phoenix, Arizona and at four off-site classroom and laboratory sites. The Company generates all of its revenue through services agreements with its university partners.
Executives
Dilek Marsh officer: Chief Data Officer 2600 W. CAMELBACK ROAD, PHOENIX AZ 85017
Jack A Henry director C/O SIERRA BLANCA VENTURES, 1211 E. MISSOURI AVENUE, SUITE 222, PHOENIX AZ 85014
Daniel E Bachus officer: Chief Financial Officer 3300 W. CAMELBACK ROAD, PHOENIX AZ 85017
Brian E Mueller officer: Chief Executive Officer 3300 W. CAMELBACK ROAD, PHOENIX AZ 85017
William Stan Meyer officer: Executive Vice President 3300 W. CAMELBACK ROAD, PHOENIX AZ 85017
Chevy Humphrey director 2600 W. CAMELBACK ROAD, PHOENIX AZ 85017
Lisa Graham Keegan director 2600 W. CAMELBACK ROAD, PHOENIX AZ 85017
Lori Browning officer: Chief Accounting Officer 2600 W. CAMELBACK ROAD, PHOENIX AZ 85017
Kathy J. Claypatch officer: Chief Information Officer 2600 W. CAMELBACK ROAD, PHOENIX AZ 85017
Sara R. Dial director 3300 W. CAMELBACK ROAD, SCOTTSDALE AZ 85017
David Adame director 2600 W. CAMELBACK ROAD, PHOENIX AZ 85017
Joseph N Mildenhall officer: Chief Information Officer 3300 W. CAMELBACK AVENUE, PHOENIX AZ 85017
Daniel J. Briggs officer: Orbis Education, CEO 2600 WEST CAMELBACK ROAD, PHOENIX AZ 85017
Brian M Roberts officer: General Counsel 18835 N. THOMPSON PEAK PARKWAY, SUITE 300 & 380, SCOTTSDALE AZ 85255
Brent D. Richardson director, 10 percent owner, officer: Executive Chairman 3300 W. CAMELBACK ROAD, PHOENIX AZ 85017