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Side-by-side financial comparison of Grand Canyon Education, Inc. (LOPE) and Merchants Bancorp (MBIN). Click either name above to swap in a different company.
Grand Canyon Education, Inc. is the larger business by last-quarter revenue ($308.1M vs $175.2M, roughly 1.8× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs 28.1%, a 10.5% gap on every dollar of revenue. Over the past eight quarters, Grand Canyon Education, Inc.'s revenue compounded faster (5.9% CAGR vs 4.8%).
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 in 2008.
Ameris Bancorp is an American bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee. The company offers online and mobile banking options for both consumers and businesses.
LOPE vs MBIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $308.1M | $175.2M |
| Net Profit | $86.7M | $67.7M |
| Gross Margin | — | — |
| Operating Margin | 35.1% | — |
| Net Margin | 28.1% | 38.6% |
| Revenue YoY | 5.3% | — |
| Net Profit YoY | 5.9% | 16.3% |
| EPS (diluted) | $3.13 | $1.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $175.2M | ||
| Q4 25 | $308.1M | $185.3M | ||
| Q3 25 | $261.1M | $171.1M | ||
| Q2 25 | $247.5M | $179.2M | ||
| Q1 25 | $289.3M | $145.9M | ||
| Q4 24 | $292.6M | $193.8M | ||
| Q3 24 | $238.3M | $149.6M | ||
| Q2 24 | $227.5M | $159.5M |
| Q1 26 | — | $67.7M | ||
| Q4 25 | $86.7M | — | ||
| Q3 25 | $16.3M | $54.7M | ||
| Q2 25 | $41.5M | $38.0M | ||
| Q1 25 | $71.6M | $58.2M | ||
| Q4 24 | $81.9M | — | ||
| Q3 24 | $41.5M | $61.3M | ||
| Q2 24 | $34.9M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | 35.1% | 39.9% | ||
| Q3 25 | 6.9% | 37.8% | ||
| Q2 25 | 20.9% | 27.3% | ||
| Q1 25 | 30.4% | 52.4% | ||
| Q4 24 | 34.2% | 66.0% | ||
| Q3 24 | 20.2% | 54.4% | ||
| Q2 24 | 18.8% | 62.2% |
| Q1 26 | — | 38.6% | ||
| Q4 25 | 28.1% | — | ||
| Q3 25 | 6.2% | 32.0% | ||
| Q2 25 | 16.8% | 21.2% | ||
| Q1 25 | 24.8% | 39.9% | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 17.4% | 41.0% | ||
| Q2 24 | 15.3% | 47.9% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $3.13 | $1.28 | ||
| Q3 25 | $0.58 | $0.97 | ||
| Q2 25 | $1.48 | $0.60 | ||
| Q1 25 | $2.52 | $0.93 | ||
| Q4 24 | $2.83 | $1.84 | ||
| Q3 24 | $1.42 | $1.17 | ||
| Q2 24 | $1.19 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $111.8M | $83.2M |
| Total DebtLower is stronger | — | $32.0M |
| Stockholders' EquityBook value | $746.9M | $2.3B |
| Total Assets | $992.3M | $20.3B |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $83.2M | ||
| Q4 25 | $111.8M | — | ||
| Q3 25 | $97.3M | — | ||
| Q2 25 | $192.3M | — | ||
| Q1 25 | $144.5M | — | ||
| Q4 24 | $324.6M | — | ||
| Q3 24 | $263.6M | — | ||
| Q2 24 | $241.3M | — |
| Q1 26 | — | $32.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.3B | ||
| Q4 25 | $746.9M | $2.3B | ||
| Q3 25 | $758.0M | $2.2B | ||
| Q2 25 | $778.0M | $2.2B | ||
| Q1 25 | $780.7M | $2.2B | ||
| Q4 24 | $783.9M | $2.2B | ||
| Q3 24 | $764.1M | $1.9B | ||
| Q2 24 | $759.2M | $1.9B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $992.3M | $19.4B | ||
| Q3 25 | $1.0B | $19.4B | ||
| Q2 25 | $1.0B | $19.1B | ||
| Q1 25 | $1.0B | $18.8B | ||
| Q4 24 | $1.0B | $18.8B | ||
| Q3 24 | $992.9M | $18.7B | ||
| Q2 24 | $992.7M | $18.2B |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $130.5M | — |
| Free Cash FlowOCF − Capex | $122.9M | — |
| FCF MarginFCF / Revenue | 39.9% | — |
| Capex IntensityCapex / Revenue | 2.5% | — |
| Cash ConversionOCF / Net Profit | 1.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $238.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $130.5M | $-341.2M | ||
| Q3 25 | $-48.6M | $29.8M | ||
| Q2 25 | $124.0M | $-121.2M | ||
| Q1 25 | $67.6M | $148.0M | ||
| Q4 24 | $135.8M | $-835.3M | ||
| Q3 24 | $-29.4M | $-492.6M | ||
| Q2 24 | $98.6M | $51.1M |
| Q1 26 | — | — | ||
| Q4 25 | $122.9M | $-362.2M | ||
| Q3 25 | $-58.3M | $24.0M | ||
| Q2 25 | $115.4M | $-125.7M | ||
| Q1 25 | $58.7M | $141.2M | ||
| Q4 24 | $126.1M | $-853.7M | ||
| Q3 24 | $-39.0M | $-497.2M | ||
| Q2 24 | $89.6M | $45.8M |
| Q1 26 | — | — | ||
| Q4 25 | 39.9% | -195.5% | ||
| Q3 25 | -22.3% | 14.0% | ||
| Q2 25 | 46.6% | -70.1% | ||
| Q1 25 | 20.3% | 96.8% | ||
| Q4 24 | 43.1% | -440.6% | ||
| Q3 24 | -16.3% | -332.4% | ||
| Q2 24 | 39.4% | 28.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | 11.3% | ||
| Q3 25 | 3.7% | 3.4% | ||
| Q2 25 | 3.5% | 2.5% | ||
| Q1 25 | 3.1% | 4.7% | ||
| Q4 24 | 3.3% | 9.5% | ||
| Q3 24 | 4.0% | 3.0% | ||
| Q2 24 | 3.9% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.50× | — | ||
| Q3 25 | -2.99× | 0.54× | ||
| Q2 25 | 2.98× | -3.19× | ||
| Q1 25 | 0.94× | 2.54× | ||
| Q4 24 | 1.66× | — | ||
| Q3 24 | -0.71× | -8.04× | ||
| Q2 24 | 2.83× | 0.67× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOPE
Segment breakdown not available.
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
