Grand Canyon Education Inc (LOPE)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	249,256	237,500	282,190	277,437	265,131
Revenue	US$ in thousands	960,866	911,304	897,963	839,694	767,332
Operating profit margin		25.94%	26.06%	31.43%	33.04%	34.55%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $249,256K ÷ $960,866K
= 25.94%

Grand Canyon Education Inc's operating profit margin has shown a declining trend over the past five years, with the margin decreasing from 34.56% in 2019 to 25.94% in 2023. This indicates a decrease in the company's operating efficiency and profitability. The company's operating profit margin was at its highest in 2019 at 34.56% and has gradually declined in the subsequent years. The decreasing trend in the operating profit margin may indicate challenges in controlling costs or generating revenue efficiently. Further analysis is recommended to identify the specific factors contributing to this decline and to implement strategies to improve the operating profit margin in the future.