Covista vs Grand Canyon Education
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The short version
- Covista is the larger business, with $2.0B of revenue in fiscal 2026 against $1.1B for Grand Canyon Education, about 1.8 times as much.
- Covista grew revenue faster (9.3%, against 7.1%).
- Grand Canyon Education kept more of each dollar of sales as operating profit (24.0% operating margin, against 19.6%).
- Grand Canyon Education turned more of its sales into free cash flow (21.6% FCF margin, against 20.1%).
- Grand Canyon Education earned a higher return on the capital invested in it (45.3%, against 17.0%).
| Latest fiscal year | CVSA · FY26 | LOPE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.7B | $4.3B |
| Revenue | $2.0B | $1.1B |
| Free cash flow | $393M | $239M |
| Net income | $252M | $216M |
| Growth | ||
| Revenue growth | 9.3% | 7.1% |
| 5-year growth | 16.8% | 5.6% |
| Share count change | −6.8% | −4.3% |
| Profitability | ||
| Gross margin | 57.3% | — |
| Operating margin | 19.6% | 24.0% |
| Net margin | 12.9% | 19.5% |
| FCF margin | 20.1% | 21.6% |
| Return on capital | 17.0% | 45.3% |
| Return on equity | 17.5% | 28.2% |
| Balance sheet | ||
| Net debt | $257M | −$300M |
| Net debt / EBITDA | 0.6x | −1.0x |
| Dividends and buybacks | $240M | $265M |
| Valuation & quality | ||
| P/E | — | 19.8x |
| Piotroski F-score | 8 | 4 |
Revenue
FY17
CVSA $1.2B
LOPE $974M
FY18
CVSA $960M
LOPE $846M
FY19
CVSA $1.0B
LOPE $779M
FY20
CVSA $866M
LOPE $844M
FY21
CVSA $899M
LOPE $897M
FY22
CVSA $1.4B
LOPE $911M
FY23
CVSA $1.5B
LOPE $961M
FY24
CVSA $1.6B
LOPE $1.0B
FY25
CVSA $1.8B
LOPE $1.1B
FY26
CVSA $2.0B
LOPE —
CVSA
LOPE
Operating margin
FY17
CVSA —
LOPE 29.0%
FY18
CVSA —
LOPE 30.5%
FY19
CVSA 15.4%
LOPE 34.1%
FY20
CVSA 12.7%
LOPE 32.9%
FY21
CVSA 12.3%
LOPE 31.5%
FY22
CVSA 5.6%
LOPE 26.1%
FY23
CVSA 11.6%
LOPE 25.9%
FY24
CVSA 13.7%
LOPE 26.7%
FY25
CVSA 19.1%
LOPE 24.0%
FY26
CVSA 19.6%
LOPE —
CVSA
LOPE
Free cash flow
FY17
CVSA $188M
LOPE $191M
FY18
CVSA $193M
LOPE $105M
FY19
CVSA $147M
LOPE $284M
FY20
CVSA $68.1M
LOPE $279M
FY21
CVSA $152M
LOPE $284M
FY22
CVSA −$20.5M
LOPE $186M
FY23
CVSA $166M
LOPE $199M
FY24
CVSA $247M
LOPE $253M
FY25
CVSA $288M
LOPE $239M
FY26
CVSA $393M
LOPE —
CVSA
LOPE
Return on capital
FY17
CVSA —
LOPE 27.1%
FY18
CVSA 8.0%
LOPE —
FY19
CVSA 8.5%
LOPE —
FY20
CVSA 8.3%
LOPE 14.8%
FY21
CVSA 6.2%
LOPE 23.6%
FY22
CVSA 3.1%
LOPE 40.6%
FY23
CVSA 7.9%
LOPE 42.3%
FY24
CVSA 9.9%
LOPE 45.9%
FY25
CVSA 14.9%
LOPE 45.3%
FY26
CVSA 17.0%
LOPE —
CVSA
LOPE
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.