LOPE on Nasdaq

Grand Canyon Education

Corporation based in Phoenix, Arizona

Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

Nov 2003Founded1

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  • TickerLOPE on Nasdaq1
  • Industryeducation industry1
  • HeadquartersPhoenix, United States1
  • Founded inDelaware1
  • Websitewww.gce.com
  • Incorporated inDE5
  • Business address2600 W. Camelback Road, Phoenix, Az 850175
  • Filer categoryLarge accelerated filer5
  • Legal formCorporation4
  • LEI529900XFER799IYOSW744
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o Corporation Service Company, 251 Little Falls Drive, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 37329334

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Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company (Nasdaq: LOPE) in 2008.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

24.0%Operating margin7
19.5%Net margin7
7.1%Revenue growth, 20257
28.9%Return on equity7

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs75¢$826.2M
  • Income tax6¢$63.7M
  • Profit20¢$216.2M

Out of $1.1B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks97¢$264.8M
  • Kept or used elsewhere3¢$8.7M

Out of $273.5M of cash from operations.7

Financial statements

Revenue8910117$1.1B in 2025+42% since 2019
0$500.0M$1.0B$1.5B2019: $778.6M$778.6M20192020: $844.1M$844.1M2020+8%2021: $896.6M$896.6M2021+6%2022: $911.3M$911.3M2022+2%2023: $960.9M$960.9M2023+5%2024: $1.0B$1.0B2024+8%2025: $1.1B$1.1B2025+7%
Operating income8910117$265.9M in 2025+0% since 2019
0$100.0M$200.0M$300.0M2019: $265.1M$265.1M20192020: $277.4M$277.4M2020+5%2021: $282.2M$282.2M2021+2%2022: $237.5M$237.5M2022−16%2023: $249.3M$249.3M2023+5%2024: $275.4M$275.4M2024+10%2025: $265.9M$265.9M2025−3%
Net income8910117$216.2M in 2025−17% since 2019
0$100.0M$200.0M$300.0M2019: $259.2M$259.2M20192020: $257.2M$257.2M2020−1%2021: $260.3M$260.3M2021+1%2022: $184.7M$184.7M2022−29%2023: $205.0M$205.0M2023+11%2024: $226.2M$226.2M2024+10%2025: $216.2M$216.2M2025−4%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Service revenue$1.1B$1.0B$960.9M
Technology and academic services$175.1M$165.1M$154.9M
Counseling services and support$342.6M$323.5M$302.3M
Marketing and communication$229.2M$212.4M$202.8M
General and administrative$47.4M$46.3M$43.2M
Litigation settlement$35.0M
Lease termination, impairment and other$2.4M$1.9M
Amortization of intangible assets$8.4M$8.4M$8.4M
Total costs and expenses$840.2M$757.6M$711.6M
Operating income$265.9M$275.4M$249.3M
Investment interest and other$13.9M$15.9M$10.4M
Income before income taxes$279.9M$291.3M$259.7M
Income tax expense$63.7M$65.1M$54.7M
Net income$216.2M$226.2M$205.0M
Basic income per share$7.76$7.77$6.83
Diluted income per share$7.71$7.73$6.80
Basic weighted average shares outstanding27.9M shares29.1M shares30.0M shares
Diluted weighted average shares outstanding28.0M shares29.3M shares30.1M shares

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The story

Grand Canyon Education was originally founded as Significant Education, LLC and was based in California as a subsidiary of education entrepreneur Michael K. Clifford's company. Clifford became managing director of Grand Canyon University when Significant Education's 2004 acquisition of the, at the time, financially-struggling University was approved by the GCU Board of trustees. After the acquisition, the former board of trustees served Clifford in an advisory role. Significant Education was incorporated in 2005 and became publicly traded under Grand Canyon Education, Inc starting in 2008. GCE trades on NASDAQ under the ticker symbol "LOPE".

From Wikipedia’s article on Grand Canyon Education, shared under CC BY-SA 4.0.6

Leadership

Who has led Grand Canyon Education, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Brian E. Mueller2008–now

Chair

  1. Brent D. Richardson2008–2014

President

  1. Kathy Player2008–2012
  2. Brian E. Mueller2012–2018

Chief financial officer

  1. Daniel E. Bachus2008–now

Chief operating officer

  1. John E. Crowley2008
20052010201520202025
Board members and other officers (21)

Products and brands

In December 2018, Grand Canyon Education announced it acquired Orbis Education Services, an education services provider that assists universities with pre-licensure healthcare program management

From Wikipedia’s article on Grand Canyon Education, shared under CC BY-SA 4.0.6

Timeline

  1. Nov 19, 2008Went public Listed on NASDAQ1
  2. Nov 19, 2008New chief executive Brian E. Mueller becomes CEO16
  3. Nov 2003Founded Founded in Delaware1

Filings

256 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 39 major events, 126 insider forms, 26 large holders, 45 other. The latest 20:

  1. Oct 1, 20268-K EDGAR
  2. Aug 24, 20268-K EDGAR
  3. Aug 6, 2026SCHEDULE 13G/A EDGAR
  4. Jul 30, 202610-Q EDGAR
  5. Jul 30, 20268-K EDGAR
  6. Jun 25, 20268-K EDGAR
  7. Jun 11, 20264 EDGAR
  8. Jun 11, 20264 EDGAR
  9. Jun 11, 20264 EDGAR
  10. Jun 11, 20264 EDGAR
  11. Jun 11, 20264 EDGAR
  12. Jun 10, 2026S-8 POS EDGAR
  13. Jun 10, 2026S-8 EDGAR
  14. Jun 10, 20268-K EDGAR
  15. Jun 3, 20268-K EDGAR
  16. May 7, 20264 EDGAR
  17. May 7, 20264 EDGAR
  18. May 7, 20264 EDGAR
  19. May 6, 2026SCHEDULE 13G/A EDGAR
  20. Apr 30, 2026SCHEDULE 13G EDGAR

The 256 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

26 open-market trades by officers, directors and large owners since October 2021: 0 buys and 26 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 11, 2025Humphrey ChevyDirectorSale600$166.15$99.7KForm 4
May 12, 2025Keegan Lisa GrahamDirectorSale500$195.67$97.8KForm 4
Mar 4, 2025Claypatch Kathy J.CHIEF INFORMATION OFFICERSale1,500$179.03$268.5KForm 4
Mar 3, 2025BACHUS DANIEL ECHIEF FINANCIAL OFFICERSale4,163$180.40$751.0KForm 4
Mar 3, 2025Meyer William StanCHIEF OPERATING OFFICERSale4,163$180.40$751.0KForm 4
Mar 3, 2025MUELLER BRIAN ECEOSale7,723$180.40$1.4MForm 4
Dec 18, 2024Marsh DilekCHIEF INFORMATION OFFICERSale1,500$166.07$249.1KForm 4
Nov 20, 2024HENRY JACK ADirectorSale1,560$162.20$253.0KForm 4
Nov 12, 2024BACHUS DANIEL ECHIEF FINANCIAL OFFICERSale3,000$170.84$512.5KForm 4
Nov 12, 2024Meyer William StanCHIEF OPERATING OFFICERSale2,800$170.85$478.4KForm 4
Nov 12, 2024MUELLER BRIAN ECEOSale7,700$171.26$1.3MForm 4
Sep 18, 2024Marsh DilekCHIEF INFORMATION OFFICERSale1,500$141.23$211.8KForm 4
Aug 13, 2024Humphrey ChevyDirectorSale560$142.92$80.0KForm 4
Jun 18, 2024Marsh DilekCHIEF INFORMATION OFFICERSale1,500$136.78$205.2KForm 4
May 13, 2024Keegan Lisa GrahamDirectorSale270$147.96$39.9KForm 4
May 13, 2024Browning LoriCHIEF ACCOUNTING OFFICERSale2,000$147.80$295.6KForm 4
May 10, 2024Claypatch Kathy J.CHIEF INFORMATION OFFICERSale1,500$149.20$223.8KForm 4
Mar 18, 2024Marsh DilekCHIEF INFORMATION OFFICERSale1,500$132.65$199.0KForm 4
Nov 17, 2023HENRY JACK ADirectorSale1,450$137.92$200.0KForm 4
Aug 10, 2023Keegan Lisa GrahamDirectorSale540$109.34$59.0KForm 4

All 26 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.2,778,662$397.7M0.0%−32,699
Fmr LLC2,045,279$292.7M0.0%−637,031
Vanguard Portfolio Management LLC1,279,119$183.1M0.0%−14,072
Vanguard Capital Management LLC1,194,579$171.0M0.0%−32,417
William Blair Investment Management, LLC1,038,828$148.7M0.4%+59,094
Reinhart Partners, Llc.882,927$126.4M2.9%+237,939
State Street Corp848,871$121.5M0.0%−11,455
Dimensional Fund Advisors LP626,554$89.7M0.0%+5,105
Riverbridge Partners LLC555,692$79.5M2.2%−160,894
Geode Capital Management, LLC542,012$77.6M0.0%−24,273
Bank Of Montreal /can/536,918$76.8M0.0%+75,318
Qube Research & Technologies Ltd452,378$64.7M0.1%+321,364
Aqr Capital Management LLC446,680$63.1M0.0%−72,591
Wasatch Advisors LP391,960$56.1M0.4%+75,758
Boston Partners383,420$55.2M0.0%+12,005
FIL Ltd356,733$51.1M0.0%+925
Norges Bank356,393$51.0M0.0%New
Jupiter Topco LLC300,104$42.9M0.0%New
Charles Schwab Investment Management Inc296,158$42.4M0.0%−10,016
No Street GP LP275,000$39.4M2.4%+50,000
Northern Trust Corp259,284$37.1M0.0%−12,479
Millennium Management LLC254,418$36.4M0.0%+210,605
Hood River Capital Management LLC252,592$36.1M0.3%−9,965
Morgan Stanley235,078$33.6M0.0%−82,087
Renaissance Technologies LLC234,002$33.5M0.0%+18,900

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

4 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
May 6, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−32.7%Report
Jan 9, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+31.2%Report
Dec 20, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+49.8%Report
Jul 1, 2021Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+1.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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