GHC · Graham Holdings Co - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $4.91B | $4.79B | $4.41B | $3.92B | $3.19B | $2.89B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | $4.68B | $4.58B | $4.35B | $3.84B | $3.11B | $2.79B |
| D&A | $80.37M | $87.05M | $86.06M | $73.30M | $71.42M | $74.26M |
| Operating Income | $234.95M | $215.50M | $69.39M | $83.90M | $77.38M | $100.41M |
| Interest Expense | $118.79M | $186.15M | $63.30M | $54.40M | $33.94M | $38.31M |
| Income Tax | $146.40M | $292.10M | $87.30M | $51.30M | $96.30M | $107.30M |
| Net Income | $292.29M | $724.63M | $205.29M | $67.08M | $352.07M | $300.37M |
| EPS - Basic | $67.11 | $164.62 | $43.96 | $13.83 | $70.65 | $58.30 |
| EPS - Diluted | $66.47 | $163.40 | $43.82 | $13.79 | $70.45 | $58.13 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $266.99M | $260.85M | $169.90M | $169.32M | $145.89M | $413.99M |
| Accounts Receivable | $519.07M | $477.83M | $496.17M | $533.62M | $589.58M | $519.58M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $181.01M | $160.38M | $154.48M | $136.19M | $126.98M | - |
| Current Assets | $2.43B | $2.10B | $1.85B | $1.71B | $1.85B | $1.77B |
| Total Assets | $8.40B | $7.68B | $7.19B | $6.58B | $7.43B | $6.44B |
| Current Liabilities | $1.39B | $1.20B | $1.23B | $1.17B | $1.17B | $949.65M |
| Long-term Debt | $705.62M | $721.62M | $745.08M | $570.55M | $525.75M | $506.10M |
| Total Liabilities | $3.53B | $3.35B | $3.16B | $2.81B | $3.00B | $2.67B |
| Stockholders' Equity | $4.79B | $4.26B | $3.98B | $3.73B | $4.40B | $3.76B |
| Retained Earnings | $8.29B | $8.03B | $7.34B | $7.16B | $7.13B | $6.80B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $347.19M | $406.99M | $259.88M | $235.60M | $202.43M | $210.66M |
| Investing Cash Flow | ($179.44M) | ($62.33M) | ($152.97M) | ($184.07M) | ($494.63M) | $199.37M |
| Financing Cash Flow | ($165.48M) | ($240.97M) | ($99.83M) | ($18.11M) | $31.03M | ($204.00M) |
| CapEx | $71.88M | $82.91M | $93.45M | $82.68M | $162.54M | $69.59M |
| Free Cash Flow | $275.30M | $324.08M | $166.43M | $152.92M | $39.89M | $141.07M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 4.8% | 4.5% | 1.6% | 2.1% | 2.4% | 3.5% |
| EBITDA margin | 6.4% | 6.3% | 3.5% | 4.0% | 4.7% | 6.0% |
| Net margin | 6.0% | 15.1% | 4.6% | 1.7% | 11.1% | 10.4% |
| Free cash flow margin | 5.6% | 6.8% | 3.8% | 3.9% | 1.3% | 4.9% |
| FCF / Net income | 0.94 | 0.45 | 0.81 | 2.28 | 0.11 | 0.47 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 33.4% | 28.7% | 29.8% | 43.3% | 21.5% | 26.3% |
| Return on assets | 3.5% | 9.4% | 2.9% | 1.0% | 4.7% | 4.7% |
| Return on equity | 6.1% | 17.0% | 5.2% | 1.8% | 8.0% | 8.0% |
| Return on invested capital | 2.8% | 3.1% | 1.0% | 1.1% | 1.2% | 1.7% |
| Liquidity | ||||||
| Current ratio | 1.75 | 1.75 | 1.50 | 1.45 | 1.58 | 1.87 |
| Quick ratio | 1.75 | 1.75 | 1.50 | 1.45 | 1.58 | 1.87 |
| Cash ratio | 0.19 | 0.22 | 0.14 | 0.14 | 0.13 | 0.44 |
| Leverage | ||||||
| Debt / Equity | 0.15 | 0.17 | 0.19 | 0.15 | 0.12 | 0.13 |
| Debt / Assets | 0.08 | 0.09 | 0.10 | 0.09 | 0.07 | 0.08 |
| Debt / EBITDA | 2.24 | 2.39 | 4.79 | 3.63 | 3.53 | 2.90 |
| Interest coverage | 2.0x | 1.2x | 1.1x | 1.5x | 2.3x | 2.6x |
| Equity multiplier | 1.75 | 1.80 | 1.81 | 1.76 | 1.69 | 1.71 |
| Liabilities / Assets | 0.42 | 0.44 | 0.44 | 0.43 | 0.40 | 0.41 |
| Efficiency | ||||||
| Asset turnover | 0.59 | 0.62 | 0.61 | 0.60 | 0.43 | 0.45 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 39d | 36d | 41d | 50d | 68d | 66d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 16.5x | 5.3x | 15.9x | 43.8x | 8.9x | 9.2x |
| P / B | 1.0x | 0.9x | 0.8x | 0.8x | 0.7x | 0.7x |
| P / S | 1.0x | 0.8x | 0.7x | 0.7x | 1.0x | 0.9x |
| EV / EBITDA | 16.6x | 14.2x | 24.6x | 21.1x | 23.6x | 16.2x |
| Growth | ||||||
| Revenue growth (YoY) | 2.5% | 8.5% | 12.5% | 23.2% | 10.3% | -1.5% |
| Revenue CAGR (3y) | 7.8% | 14.6% | 15.2% | 10.2% | 5.7% | 3.7% |
| Revenue CAGR (5y) | 11.2% | 10.3% | 10.4% | 8.7% | 5.1% | 2.2% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 9.0% | 210.6% | -17.3% | 8.4% | -22.9% | -30.5% |
| Net income growth (YoY) | -59.7% | 253.0% | 206.0% | -80.9% | 17.2% | -8.4% |
| EPS growth (YoY) | -59.3% | 272.9% | 217.8% | -80.4% | 21.2% | -5.0% |
| EPS CAGR (3y) | 68.9% | 32.4% | -9.0% | -39.2% | 12.0% | 2.6% |
| EPS CAGR (5y) | 2.7% | 21.7% | -2.7% | -23.9% | 18.8% | - |
| FCF growth (YoY) | -15.0% | 94.7% | 8.8% | 283.4% | -71.7% | 96.9% |
| FCF CAGR (5y) | 14.3% | 35.2% | -2.5% | -5.9% | -27.2% | - |
| Book value growth (YoY) | 12.6% | 7.1% | 6.5% | -15.2% | 17.0% | 13.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$9.47B totalReportable Segment Aggregation Before Other Operating Segment$4.55B · 48.1%
Education$1.74B · 18.4%
Automotive$1.13B · 12.0%
Healthcare Divison$815.05M · 8.6%
Manufacturing$436.28M · 4.6%
Television Broadcasting$425.11M · 4.5%
Corporate And Other$360.14M · 3.8%
Product / service
$4.91B totalService$2.66B · 54.3%
Product$2.25B · 45.7%
Geographic
$1.68B totalNon Us$1.07B · 63.8%
GB$609.00M · 36.2%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.17
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Educational Services
Comparing Graham Holdings Co against the 5 most active filers in the same SIC group.
Dividends
$7.36/share trailing 12 months · +4.5% YoY
| Ex-date | Per share |
|---|---|
| Apr 16, 2026 | $1.8800 |
| Feb 4, 2026 | $1.8800 |
| Oct 16, 2025 | $1.8000 |
| Jul 17, 2025 | $1.8000 |
| Apr 17, 2025 | $1.8000 |
| Feb 3, 2025 | $1.8000 |
| Oct 17, 2024 | $1.7200 |
| Jul 18, 2024 | $1.7200 |
| Apr 17, 2024 | $1.7200 |
| Jan 31, 2024 | $1.7200 |
| Oct 17, 2023 | $1.6500 |
| Jul 18, 2023 | $1.6500 |
| Apr 19, 2023 | $1.6500 |
| Feb 1, 2023 | $1.6500 |
| Oct 17, 2022 | $1.5800 |
| Jul 18, 2022 | $1.5800 |
| Apr 19, 2022 | $1.5800 |
| Feb 2, 2022 | $1.5800 |
| Oct 14, 2021 | $1.5100 |
| Jul 15, 2021 | $1.5100 |
| Apr 15, 2021 | $1.5100 |
| Feb 3, 2021 | $1.5100 |
| Oct 14, 2020 | $1.4500 |
| Jul 15, 2020 | $1.4500 |