Grand Canyon University (NASDAQ:LOPE) reported strong student body growth in its Q4 2013 financial results, leading to equally impressive increases in revenue and operating income. For the year ending December 31st, 2013, LOPE's net revenue increased 17 percent to $598.3 million, while operating income climbed 25.6 percent to $114.1 million.
When evaluating LOPE, student enrollment and operating margin are the two key metrics to follow. Enrollment drives revenue; as long as the student body continues to grow, revenue will grow in lockstep. The primary source of LOPE's revenue is college tuition. Nationally, college tuition rates have been on the rise for decades and there is zero evidence that this trend will change. Therefore, as long as tuition...
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