A+ S&P Rating Highlights Dickinson's Financial Strength
The college's financial standing remains strong
S&P Global Ratings has once again given Dickinson an A+ rating and a "stable outlook." This rating, provided by a leading index provider and data source of independent credit ratings, reflects the college's strong financial standing and is based on the following, among other factors:
- Enrollment increases: Healthy growth in enrollment over the past two years.
- Retention and graduation rates: Stable retention and graduation rates, indicating strong student satisfaction and academic outcomes.
- Selectivity rate: Improved selectivity, outperforming similar-rated peers.
- Geographic diversity: 72% of students come from out of state, enhancing diversity and potentially reducing risk.
- Financial resources: Very strong financial resources, with cash and investments at 2.8x operating expenditures and 5x debt in fiscal year 2024.
- Operating performance: Positive operating margins in three of the past five fiscal years, excluding fiscal years 2020 and 2021 (COVID-19).
- Leadership: Proactive and experienced leadership with innovative strategies for enrollment and recruitment, along with sound financial management.
"This rating is a testament to Dickinson's fiscal responsibility, innovative academic programs, and sustainable growth," says President John E. Jones III '77, P'11. "As we navigate the evolving landscape of higher education, this recognition reinforces our position as a leader in liberal-arts education and underscores the value we provide to our students."
The rating builds on other strong signs of Dickinson's financial strength, such as an endowment that reached $675 million at the close of the last fiscal year with 10-year investment returns that are consistently in the top 10% of the more than 600 schools reporting to the NACUBO-Commonfund Study of Endowments (NCSE survey).
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Published November 20, 2024