Grand Canyon Education Inc (LOPE)

Pretax margin

		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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	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	317,502	317,052	286,211	280,972
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
Pretax margin		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%	41.38%	43.20%	40.98%	36.81%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $259,675K ÷ $960,866K
= 27.03%

The pretax margin of Grand Canyon Education Inc has shown a consistent downward trend over the past year, declining from 34.40% in Q1 2022 to 27.02% in Q4 2023. This indicates that the company's profitability before taxes has been decreasing. The most recent pretax margin of 27.02% in Q4 2023 is lower than the average pretax margin of 29.72% in the previous quarters. It is crucial for the company to closely monitor and address the factors contributing to this decline in order to improve its profitability and financial performance in the future.