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GHC

Graham Holdings Company

GHC

Graham Holdings Company • NYSE
$1106.50 ▲ 1.37% (+14.95)
Market Cap $4.83 B
52w High $1200.00
52w Low $840.50
Dividend Yield 7.20%
P/E 6.68
Volume 14.06K
Outstanding Shares 4.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.279B ▲ $307.328M ▲ $122.925M ▲ 9.612% ▲ $28.19 ▲ $246.927M ▲
Q2-2025 $1.216B ▲ $303.583M ▲ $36.749M ▲ 3.023% ▲ $8.43 ▲ $120.248M ▼
Q1-2025 $1.166B ▼ $299.084M ▼ $23.894M ▼ 2.049% ▼ $5.5 ▼ $158.379M ▼
Q4-2024 $1.246B ▲ $327.367M ▲ $548.791M ▲ 44.051% ▲ $124.69 ▲ $875.115M ▲
Q3-2024 $1.207B $298.733M $72.503M 6.006% $16.55 $210.038M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.197B ▲ $7.852B ▲ $3.311B ▲ $4.457B ▲
Q2-2025 $1.074B ▲ $7.619B ▲ $3.185B ▼ $4.352B ▲
Q1-2025 $1.066B ▼ $7.616B ▼ $3.247B ▼ $4.294B ▲
Q4-2024 $1.12B ▲ $7.677B ▲ $3.347B ▼ $4.257B ▲
Q3-2024 $1.076B $7.421B $3.35B $4.004B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $126.238M ▲ $178.086M ▲ $-67.045M ▼ $-102.305M ▼ $7.755M ▼ $161.753M ▲
Q2-2025 $40.423M ▲ $94.796M ▲ $-12.727M ▲ $-66.785M ▲ $22.41M ▲ $77.993M ▲
Q1-2025 $25.721M ▼ $46.014M ▼ $-18.59M ▲ $-121.727M ▼ $-90.915M ▼ $30.532M ▼
Q4-2024 $551.592M ▲ $116.312M ▼ $-26.65M ▼ $-64.652M ▲ $15.629M ▼ $91.08M ▼
Q3-2024 $76.77M $237.568M $6.104M $-155.054M $94.609M $219.448M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $550.00M ▲$520.00M ▼$550.00M ▲$580.00M ▲
Service
Service
 $690.00M ▲$650.00M ▼$670.00M ▲$700.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Graham Holdings has grown its revenue steadily over the past five years, showing that the underlying businesses are expanding. Profitability, however, has been choppier. Operating profit and net income have moved up and down, with a notably weak year recently followed by a strong rebound. The latest year shows much healthier earnings and a particularly sharp improvement in cash-style profits, which may include some one‑off benefits. Overall, this looks like a business with solid top-line momentum but earnings that can be uneven from year to year, reflecting both its diverse mix of businesses and changing conditions in education, media, and other segments.

Balance Sheet

Balance Sheet The balance sheet looks broadly solid and gradually stronger. Total assets and shareholder equity have trended higher over time, indicating ongoing reinvestment and retained value. Debt levels have stayed fairly stable, not racing ahead of the company’s growth, which limits financial strain. Cash balances dipped a few years ago but have started to rebuild, improving flexibility. In plain terms, this is a moderately leveraged conglomerate with a conservative tilt, not a highly stretched one.

Cash Flow

Cash Flow Cash generation has been consistently positive and slowly improving. Operating cash flow has risen over the period, and free cash flow (after capital spending) has grown from modest levels to a more comfortable cushion. Investment in property and equipment has been steady but not aggressive, suggesting a focus on disciplined spending rather than rapid expansion at any cost. The pattern points to a business that reliably turns its operations into cash, even if accounting earnings are a bit volatile.

Competitive Edge

Competitive Edge Graham Holdings’ main strength is its diversification across education (Kaplan), local TV broadcasting, specialized manufacturing, healthcare services, and niche online marketplaces. Kaplan benefits from a long-established brand in test prep and professional education, while the TV stations enjoy strong local identities and community trust. The manufacturing units are focused on specialized, engineered products where reputation and reliability matter, and the healthcare arm is positioned in the structurally growing home health and hospice market. This mix provides resilience: weakness in one area can be offset by strength in another. The flip side is complexity—each segment faces its own intense competition and regulatory pressures, and managing them all well is a continual challenge.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic theme. Kaplan is pushing hard into AI-driven, personalized learning, using decades of educational data to tailor study plans and tutoring at scale. The media business is adopting new broadcast standards, cloud-based workflows, and AI-powered tools to boost digital engagement and advertising effectiveness. Manufacturing operations are steadily upgrading product technology in areas like combustion control, while the healthcare division is innovating in care models through partnerships and data-driven operations. The company is also nurturing digital marketplaces for art and design, seeking to blend media reach with e‑commerce. Overall, GHC is not standing still; it is actively modernizing legacy businesses and experimenting with new ways to deliver services and content.

Summary

Graham Holdings today is a diversified, cash-generative conglomerate with stable growth in revenue, improving cash flows, and a balance sheet that appears prudent rather than aggressive. Its strengths lie in a trusted education brand, strong local media franchises, specialized industrial niches, and exposure to growing healthcare and digital segments—all supported by a visible push into AI and other modern technologies. The main risks are earnings volatility, the complexity of managing many different businesses, and structural pressures in education and media. Over time, the company’s ability to keep innovating in Kaplan and broadcasting, scale its healthcare and niche platforms, and allocate capital wisely across segments will be key drivers of its long-term performance.

NEWS

November 17, 2025 · 9:18 AM UTC

Residential Home Health and Hospice Receives 2025 Top Workplaces Honors

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November 13, 2025 · 5:06 PM UTC

Graham Holdings Company Announces Pricing of $500 Million Private Offering of Senior Notes

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November 12, 2025 · 7:45 AM UTC

Graham Holdings Company Announces Proposed $500 Million Private Offering of Senior Notes

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November 10, 2025 · 9:40 AM UTC

Residential Home Health and Hospice Receives 2025 Top Workplaces Honors

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November 7, 2025 · 3:27 PM UTC

Graham Holdings Company Announces Virtual Investor Day

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