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Graham vs Grand Canyon Education: revenue, profit, margins and growth compared

Graham brought in $4.9B of revenue in fiscal 2025, Grand Canyon Education $1.1B in fiscal 2025. Revenue changed by +2.5% at Graham and +7.1% at Grand Canyon Education on the year before, so Grand Canyon Education grew faster. Graham kept 6.0% of its revenue as net profit, Grand Canyon Education 19.5%. Free cash flow was $275.3M at Graham and $238.6M at Grand Canyon Education.

Side by side, latest fiscal year

GHCLOPE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.9B$1.1B
Revenue growth+2.5%+7.1%
Net income$292.3M$216.2M
Net margin6.0%19.5%
Free cash flow$275.3M$238.6M
Free cash flow margin5.6%21.6%
Earnings per share (diluted)$66.47$7.71
Cash$267M$111.8M
Debt$880.8Mn/a
Price to earnings17.419.1
Market value$4.9B$3.8B
Dividend yield0.62%n/a
Rank by revenue in sector#12 of 162 · Real estate#58 of 162 · Real estate

Over the years

Revenue
GHC FY2018: $2.7BGHC FY2019: $2.9BGHC FY2020: $2.9BGHC FY2021: $3.2BGHC FY2022: $3.9BGHC FY2023: $4.4BGHC FY2024: $4.8BGHC FY2025: $4.9BLOPE FY2018: $845.5MLOPE FY2019: $778.6MLOPE FY2020: $844.1MLOPE FY2021: $896.6MLOPE FY2022: $911.3MLOPE FY2023: $960.9MLOPE FY2024: $1BLOPE FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
GHC $4.9BLOPE $1.1B
Net income
GHC FY2018: $271.2MGHC FY2019: $327.9MGHC FY2020: $300.4MGHC FY2021: $352.1MGHC FY2022: $67.1MGHC FY2023: $205.3MGHC FY2024: $724.6MGHC FY2025: $292.3MLOPE FY2018: $229MLOPE FY2019: $259.2MLOPE FY2020: $257.2MLOPE FY2021: $260.3MLOPE FY2022: $184.7MLOPE FY2023: $205MLOPE FY2024: $226.2MLOPE FY2025: $216.2MFY18FY19FY20FY21FY22FY23FY24FY25
GHC $292.3MLOPE $216.2M
Net margin
GHC FY2018: 10.1%GHC FY2019: 11.2%GHC FY2020: 10.4%GHC FY2021: 11.1%GHC FY2022: 1.7%GHC FY2023: 4.6%GHC FY2024: 15.1%GHC FY2025: 6.0%LOPE FY2018: 27.1%LOPE FY2019: 33.3%LOPE FY2020: 30.5%LOPE FY2021: 29.0%LOPE FY2022: 20.3%LOPE FY2023: 21.3%LOPE FY2024: 21.9%LOPE FY2025: 19.5%FY18FY19FY20FY21FY22FY23FY24FY25
GHC 6.0%LOPE 19.5%
Revenue growth
GHC FY2019: +8.8%GHC FY2020: -1.5%GHC FY2021: +10.3%GHC FY2022: +23.2%GHC FY2023: +12.5%GHC FY2024: +8.5%GHC FY2025: +2.5%LOPE FY2019: -7.9%LOPE FY2020: +8.4%LOPE FY2021: +6.2%LOPE FY2022: +1.6%LOPE FY2023: +5.4%LOPE FY2024: +7.5%LOPE FY2025: +7.1%FY19FY20FY21FY22FY23FY24FY25
GHC +2.5%LOPE +7.1%
Free cash flow
GHC FY2018: $188.8MGHC FY2019: $71.7MGHC FY2020: $141.1MGHC FY2021: $39.9MGHC FY2022: $152.9MGHC FY2023: $166.4MGHC FY2024: $324.1MGHC FY2025: $275.3MLOPE FY2018: $104.6MLOPE FY2019: $284MLOPE FY2020: $279.4MLOPE FY2021: $284.2MLOPE FY2022: $185.6MLOPE FY2023: $199.1MLOPE FY2024: $252.7MLOPE FY2025: $238.6MFY18FY19FY20FY21FY22FY23FY24FY25
GHC $275.3MLOPE $238.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Graham and Grand Canyon Education

Which is bigger by revenue, Graham or Grand Canyon Education?

Graham is bigger by revenue: $4.9B in fiscal 2025, against $1.1B for Grand Canyon Education in fiscal 2025.

Which keeps more of its revenue as profit, Graham or Grand Canyon Education?

Graham had a net margin of 6.0% in fiscal 2025; Grand Canyon Education had 19.5% in fiscal 2025.

Which grew revenue faster, Graham or Grand Canyon Education?

In their latest fiscal years revenue changed by +2.5% at Graham and +7.1% at Grand Canyon Education.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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