Grand Canyon Education Inc (LOPE)

Total asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	960,866	941,291	928,099	917,277	911,304	657,601	654,907	655,883	647,885	880,309	871,749	855,720	839,694	812,574	805,522	792,740	767,332	734,001	698,483	763,331
Total assets	US$ in thousands	930,463	863,156	846,217	874,021	832,749	784,544	787,303	918,386	1,222,740	1,680,460	1,846,970	1,885,030	1,844,580	1,800,560	1,790,280	1,731,600	1,690,290	1,760,670	1,677,520	1,619,470
Total asset turnover		1.03	1.09	1.10	1.05	1.09	0.84	0.83	0.71	0.53	0.52	0.47	0.45	0.46	0.45	0.45	0.46	0.45	0.42	0.42	0.47

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $960,866K ÷ $930,463K
= 1.03

Grand Canyon Education Inc's total asset turnover has exhibited some fluctuations over the past eight quarters. The ratio indicates how efficiently the company generates revenue in relation to its total assets.

In Q4 2023, the total asset turnover decreased to 1.03 from 1.09 in Q3 2023, suggesting that the company generated less revenue for each dollar of assets compared to the previous quarter. However, it's important to note that 1.03 is still relatively strong and indicates efficient asset utilization.

Looking back over the past year, the total asset turnover has generally remained fairly stable, ranging from 0.98 to 1.15. This consistency suggests that Grand Canyon Education Inc has been effectively managing its assets to generate revenue consistently.

Overall, while there have been some minor fluctuations, the trend in the total asset turnover for Grand Canyon Education Inc reflects a strong and efficient utilization of assets to generate revenue.