Grand Canyon Education Inc (LOPE)

Return on total capital

		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 interest and tax (EBIT) (ttm)	US$ in thousands	279,128	279,870	275,972	271,285	259,708	250,944	242,924	239,081	240,121	258,286	282,594	313,664	334,890	337,006	342,546	340,716	337,542	322,443	332,535	337,250
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	70,760	50,354	51,866	53,755	—	58,057	66,344	74,630	82,916	91,202	99,488
Total stockholders’ equity	US$ in thousands	783,853	764,137	759,195	759,447	718,014	650,530	645,425	659,250	637,619	591,556	606,638	706,437	1,045,050	1,400,780	1,542,680	1,588,680	1,574,330	1,520,980	1,489,390	1,448,010
Return on total capital		35.61%	36.63%	36.35%	35.72%	36.17%	38.58%	37.64%	36.27%	37.66%	39.00%	43.01%	41.36%	30.48%	24.06%	21.40%	20.59%	20.47%	20.10%	21.04%	21.79%

December 31, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $279,128K ÷ ($—K + $783,853K)
= 35.61%

Grand Canyon Education Inc's return on total capital has shown a generally positive trend over the given time period, starting at 21.79% in March 2020 and reaching a peak of 43.01% in June 2022. The return fluctuated within a range, with slight decreases and increases, before declining to 35.61% by December 2024. This indicates that the company has been effectively utilizing its total capital to generate profits, although there was a slight decline towards the end of the period. It is essential for investors and stakeholders to closely monitor this ratio to assess the company's efficiency in generating returns from its invested capital.