Grand Canyon Education Inc (LOPE)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	53,755	74,630	107,774
Total assets	US$ in thousands	930,463	832,749	1,222,740	1,844,580	1,690,290
Debt-to-assets ratio		0.00	0.00	0.04	0.04	0.06

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $930,463K
= 0.00

The debt-to-assets ratio for Grand Canyon Education Inc has shown a consistent decline over the past five years, from 0.08 in 2019 to 0.00 in 2023. This indicates that the company has been reducing its reliance on debt to finance its assets, which generally reflects a stronger financial position and lower financial risk. In 2020, there was a slight increase in the ratio to 0.06, but it decreased back to 0.00 in the subsequent years. The consistent trend of decreasing debt-to-assets ratio suggests that Grand Canyon Education Inc has been effectively managing its debt levels and improving its asset base relative to its debt obligations. This trend is generally viewed positively by investors and creditors as it implies a healthier balance sheet and greater financial stability.