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Side-by-side financial comparison of Grand Canyon Education, Inc. (LOPE) and SPS COMMERCE INC (SPSC). 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 $192.7M, roughly 1.6× SPS COMMERCE INC). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs 13.4%, a 14.7% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 5.3%). Grand Canyon Education, Inc. produced more free cash flow last quarter ($122.9M vs $38.2M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 5.9%).
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.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
LOPE vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $308.1M | $192.7M |
| Net Profit | $86.7M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | 35.1% | 18.0% |
| Net Margin | 28.1% | 13.4% |
| Revenue YoY | 5.3% | 12.7% |
| Net Profit YoY | 5.9% | 47.2% |
| EPS (diluted) | $3.13 | $0.69 |
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.
| Q4 25 | $308.1M | $192.7M | ||
| Q3 25 | $261.1M | $189.9M | ||
| Q2 25 | $247.5M | $187.4M | ||
| Q1 25 | $289.3M | $181.5M | ||
| Q4 24 | $292.6M | $170.9M | ||
| Q3 24 | $238.3M | $163.7M | ||
| Q2 24 | $227.5M | $153.6M | ||
| Q1 24 | $274.7M | $149.6M |
| Q4 25 | $86.7M | $25.8M | ||
| Q3 25 | $16.3M | $25.6M | ||
| Q2 25 | $41.5M | $19.7M | ||
| Q1 25 | $71.6M | $22.2M | ||
| Q4 24 | $81.9M | $17.6M | ||
| Q3 24 | $41.5M | $23.5M | ||
| Q2 24 | $34.9M | $18.0M | ||
| Q1 24 | $68.0M | $18.0M |
| Q4 25 | — | 70.4% | ||
| Q3 25 | — | 69.5% | ||
| Q2 25 | — | 68.1% | ||
| Q1 25 | — | 68.7% | ||
| Q4 24 | — | 67.5% | ||
| Q3 24 | — | 68.5% | ||
| Q2 24 | — | 66.1% | ||
| Q1 24 | — | 65.6% |
| Q4 25 | 35.1% | 18.0% | ||
| Q3 25 | 6.9% | 16.4% | ||
| Q2 25 | 20.9% | 14.1% | ||
| Q1 25 | 30.4% | 14.3% | ||
| Q4 24 | 34.2% | 14.5% | ||
| Q3 24 | 20.2% | 15.6% | ||
| Q2 24 | 18.8% | 15.1% | ||
| Q1 24 | 30.8% | 10.3% |
| Q4 25 | 28.1% | 13.4% | ||
| Q3 25 | 6.2% | 13.5% | ||
| Q2 25 | 16.8% | 10.5% | ||
| Q1 25 | 24.8% | 12.2% | ||
| Q4 24 | 28.0% | 10.3% | ||
| Q3 24 | 17.4% | 14.3% | ||
| Q2 24 | 15.3% | 11.7% | ||
| Q1 24 | 24.8% | 12.0% |
| Q4 25 | $3.13 | $0.69 | ||
| Q3 25 | $0.58 | $0.67 | ||
| Q2 25 | $1.48 | $0.52 | ||
| Q1 25 | $2.52 | $0.58 | ||
| Q4 24 | $2.83 | $0.46 | ||
| Q3 24 | $1.42 | $0.62 | ||
| Q2 24 | $1.19 | $0.48 | ||
| Q1 24 | $2.29 | $0.48 |
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 | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $746.9M | $973.9M |
| Total Assets | $992.3M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $111.8M | $151.4M | ||
| Q3 25 | $97.3M | $133.7M | ||
| Q2 25 | $192.3M | $107.6M | ||
| Q1 25 | $144.5M | $94.9M | ||
| Q4 24 | $324.6M | $241.0M | ||
| Q3 24 | $263.6M | $205.8M | ||
| Q2 24 | $241.3M | $271.8M | ||
| Q1 24 | $196.2M | $290.8M |
| Q4 25 | $746.9M | $973.9M | ||
| Q3 25 | $758.0M | $958.9M | ||
| Q2 25 | $778.0M | $949.8M | ||
| Q1 25 | $780.7M | $920.9M | ||
| Q4 24 | $783.9M | $854.7M | ||
| Q3 24 | $764.1M | $829.4M | ||
| Q2 24 | $759.2M | $703.4M | ||
| Q1 24 | $759.4M | $683.0M |
| Q4 25 | $992.3M | $1.2B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $992.9M | $1.0B | ||
| Q2 24 | $992.7M | $854.5M | ||
| Q1 24 | $1.0B | $839.8M |
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 | $45.9M |
| Free Cash FlowOCF − Capex | $122.9M | $38.2M |
| FCF MarginFCF / Revenue | 39.9% | 19.8% |
| Capex IntensityCapex / Revenue | 2.5% | 4.0% |
| Cash ConversionOCF / Net Profit | 1.50× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $238.6M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.5M | $45.9M | ||
| Q3 25 | $-48.6M | $60.6M | ||
| Q2 25 | $124.0M | $32.3M | ||
| Q1 25 | $67.6M | $40.0M | ||
| Q4 24 | $135.8M | $40.6M | ||
| Q3 24 | $-29.4M | $53.3M | ||
| Q2 24 | $98.6M | $29.4M | ||
| Q1 24 | $85.0M | $34.1M |
| Q4 25 | $122.9M | $38.2M | ||
| Q3 25 | $-58.3M | $54.6M | ||
| Q2 25 | $115.4M | $25.7M | ||
| Q1 25 | $58.7M | $33.8M | ||
| Q4 24 | $126.1M | $34.3M | ||
| Q3 24 | $-39.0M | $48.1M | ||
| Q2 24 | $89.6M | $24.4M | ||
| Q1 24 | $76.0M | $30.5M |
| Q4 25 | 39.9% | 19.8% | ||
| Q3 25 | -22.3% | 28.7% | ||
| Q2 25 | 46.6% | 13.7% | ||
| Q1 25 | 20.3% | 18.6% | ||
| Q4 24 | 43.1% | 20.1% | ||
| Q3 24 | -16.3% | 29.4% | ||
| Q2 24 | 39.4% | 15.9% | ||
| Q1 24 | 27.7% | 20.4% |
| Q4 25 | 2.5% | 4.0% | ||
| Q3 25 | 3.7% | 3.2% | ||
| Q2 25 | 3.5% | 3.6% | ||
| Q1 25 | 3.1% | 3.4% | ||
| Q4 24 | 3.3% | 3.6% | ||
| Q3 24 | 4.0% | 3.2% | ||
| Q2 24 | 3.9% | 3.3% | ||
| Q1 24 | 3.3% | 2.4% |
| Q4 25 | 1.50× | 1.78× | ||
| Q3 25 | -2.99× | 2.37× | ||
| Q2 25 | 2.98× | 1.64× | ||
| Q1 25 | 0.94× | 1.80× | ||
| Q4 24 | 1.66× | 2.31× | ||
| Q3 24 | -0.71× | 2.27× | ||
| Q2 24 | 2.83× | 1.63× | ||
| Q1 24 | 1.25× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOPE
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
