Grand Canyon Education Inc (LOPE)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	291,315	288,126	280,073	271,269	259,675	250,920	242,901	239,060	240,119	256,983	280,550	310,862	331,289	333,838	339,201	337,061	333,140	315,963	324,098	326,979
Revenue (ttm)	US$ in thousands	1,033,000	1,018,705	1,002,326	985,433	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
Pretax margin		28.20%	28.28%	27.94%	27.53%	27.03%	26.66%	26.17%	26.06%	26.35%	39.08%	42.84%	47.40%	51.13%	37.92%	38.91%	39.39%	39.67%	38.88%	40.23%	41.25%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $291,315K ÷ $1,033,000K
= 28.20%

The pretax margin of Grand Canyon Education Inc has shown variability over the period analyzed. Starting at a high of 41.25% as of March 31, 2020, the pretax margin gradually decreased to 38.88% by September 30, 2020, before slightly rebounding to 39.67% by December 31, 2020.

Throughout the following years, the pretax margin fluctuated within the range of 37.92% to 51.13% up to December 31, 2021. However, there was a notable decline in the pretax margin to 26.35% by December 31, 2022, before stabilizing around the mid to high 20% range in the subsequent quarters.

Overall, the trend in the pretax margin of Grand Canyon Education Inc indicates a period of relative stability with a gradual decline followed by some fluctuation. It is important for stakeholders to monitor the pretax margin closely to assess the company's operational efficiency and profitability.