Grand Canyon Education Inc (LOPE)

Financial leverage ratio

		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
Total assets	US$ in thousands	930,463	863,156	846,217	874,021	832,749	784,544	787,303	918,386	1,222,740	1,680,460	1,846,970	1,885,030	1,844,580	1,800,560	1,790,280	1,731,600	1,690,290	1,760,670	1,677,520	1,619,470
Total stockholders’ equity	US$ in thousands	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	1,443,430	1,381,830	1,327,810	1,272,870
Financial leverage ratio		1.30	1.33	1.31	1.33	1.31	1.33	1.30	1.30	1.17	1.20	1.20	1.19	1.17	1.18	1.20	1.20	1.17	1.27	1.26	1.27

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $930,463K ÷ $718,014K
= 1.30

The financial leverage ratio for Grand Canyon Education Inc has been relatively stable over the past eight quarters, ranging between 1.30 and 1.33. This ratio indicates that the company's capital structure is mostly funded by debt rather than equity, with an average level of financial leverage. The consistency in the financial leverage ratio suggests that the company has been maintaining a relatively stable mix of debt and equity in its capital structure. It is important for investors and stakeholders to monitor this ratio over time to assess the company's ability to manage its debt levels and financial risk effectively.