Menlo School

Menlo School looks durable. The school holds 3.6 years of operating cushion: deep institutional balance. Revenue is unusually diversified at 61% tuition-dependent (peer median 80%). Staff compensation runs 56% of expenses, about par for the peer cohort. Net assets are growing 5.2%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 6.6 / 10, strong.

Menlo School holds 3.6 years of operating expense in net assets — a deeper reserve position than most independent day schools carry. Less exposed than peers to a one-year admissions shock.

Menlo School reported $76.7M in revenue against $72.1M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $260.5M — about 3.61x annual operating expense.

Operating margin landed at 5.9%, with 61.1% of revenue coming from tuition. Among same-size peers, that puts Menlo School at the p40 on operating margin.