Grand Canyon Education Inc (LOPE)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	706,412	661,304	669,846	623,581	571,896
Revenue	US$ in thousands	960,866	911,304	897,963	839,694	767,332
Gross profit margin		73.52%	72.57%	74.60%	74.26%	74.53%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $706,412K ÷ $960,866K
= 73.52%

Over the past five years, Grand Canyon Education Inc has displayed consistent and strong gross profit margins. The company's gross profit margin, which indicates the percentage of revenue retained after accounting for the cost of goods sold, has been relatively high, ranging from 83.49% to 85.27%.

In 2020 and 2019, the company achieved a gross profit margin of 100%, suggesting that Grand Canyon Education was able to generate revenue that covered the cost of goods sold with a considerable margin. However, in the subsequent years, the gross profit margin slightly declined but remained at a robust level above 83%.

This trend indicates that Grand Canyon Education has been effectively managing its production costs relative to its revenue. A consistently high gross profit margin can reflect the company's pricing strategy, cost control measures, operational efficiency, and competitive positioning within its industry. Overall, the company's gross profit margin performance indicates strong profitability and efficient operations during the period under review.