• Grand Canyon Education average return on tangible equity for 2023 was 63.33, a 41.8% decline from 2022.
• Grand Canyon Education average return on tangible equity for 2022 was 44.66, a 95.19% increase from 2021.
• Grand Canyon Education average return on tangible equity for 2021 was 22.88, a 1.29% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.