Graham Holdings Company (GHC) Stock Analysis
Consumer Defensive · Education & Training Services · NYSE
Graham Holdings Company (GHC) posted $4.91B in revenue for fiscal 2025 (up 2.5% year over year), at a 6.0% net margin, and has compounded revenue about 11.2%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Graham Holdings Company
Graham Holdings Company has grown revenue from $2.48B to $4.91B over the last 10 fiscal years, compounding about 11.2% a year. The most recent year was up 2.5%, so growth has cooled from its longer-run pace.
Net margin sits at 6%, down 9.1 points year over year. It carries about $705.62M of total debt.
At today's valuation the market is pricing in roughly 6.3% annual free-cash-flow growth — versus the 14.3% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is reported earnings run ahead of cash.
Synthesised from Graham Holdings Company's SEC filings — descriptive, not advice. Ask the analyst your own question →
Graham Holdings Company revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.48B | $2.59B | $2.70B | $2.93B | $2.89B | $3.19B | $3.92B | $4.41B | $4.79B | $4.91B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $168.59M | $302.04M | $271.21M | $327.86M | $300.37M | $352.07M | $67.08M | $205.29M | $724.63M | $292.29M |
| Net margin | 6.8% | 11.7% | 10.1% | 11.2% | 10.4% | 11.1% | 1.7% | 4.6% | 15.1% | 6.0% |
Source: Graham Holdings Company SEC filings (10-K). 18 years of history available in the interactive view.
Graham Holdings Company: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Reported earnings run ahead of cashOver 3 years net income totalled $1222.2M but operating cash flow only $1014M — earnings aren't fully backed by cash, an accruals flag worth investigating.
What growth is priced into GHC stock?
At today's market cap of $4.96B, Graham Holdings Company is priced for free-cash-flow growth of about 6.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $275.30M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 14.3%/yr over the last five fiscal years and revenue 11.2%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Graham Holdings Company financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Graham Holdings Company financial history by metric
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About Graham Holdings Company
Graham Holdings Company, through its subsidiaries, operates as a diversified holding company in the United States and internationally. The company provides academic preparation programs for international students; professional training and postsecondary education services, as well as English-language programs; operations support services for pre-college, certificate, undergraduate and graduate programs; exam preparation services; career and academic advisement services; and operates a sixth-form college that prepares students for A-level examinations. It also owns and operates television broadcast stations, restaurants, and entertainment venues; and offers social media management tools to connect newsrooms with their users. In addition, the company offers in-home specialty pharmacy infusion therapies; home health, hospice and palliative services; applied behavior analysis therapy; physician services for allergy, asthma and immunology patients; in-home aesthetics; and healthcare software-as-a-service technology. Further, it operates as a multi-product supplier to the commercial building industry; manufactures electrical and lifting solutions; and supplies parts used in electric utilities and industrial systems. Additionally, the company operates dealerships and valet repair services; provides custom framing services; marketing solutions; customer data and analytics software; Slate and Foreign Policy magazines; daily local news podcast and newsletter; a software-as-a-service platform that monetize audio content through paid subscriptions, memberships, and audiobooks; operates an online art gallery and in-person art fair business; and an online commerce platform that features original art and designs on an array of consumer products. The company was formerly known as The Washington Post Company and changed its name to Graham Holdings Company in November 2013. Graham Holdings Company was founded in 1877 and is based in Arlington, Virginia.
Graham Holdings Company — frequently asked questions
What is Graham Holdings Company's revenue?
Graham Holdings Company (GHC) reported revenue of $4.91B for fiscal year 2025, up 2.5% from the prior year, according to its SEC filings.
Is Graham Holdings Company profitable?
Yes. GHC earned net income of $292.29M in fiscal 2025, a net margin of 6.0%.
What is GHC's P/E ratio?
Graham Holdings Company trades at a price-to-earnings ratio of about 17.0 based on the latest data in our nightly-refreshed cache.
How fast is Graham Holdings Company growing?
GHC's revenue grew at roughly 11.2% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Graham Holdings Company have?
As of fiscal year 2025, GHC carried roughly $705.62M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Graham Holdings Company's market cap?
Graham Holdings Company (GHC) has a market capitalization of about $4.96B, based on the latest data in our nightly-refreshed cache.
When does Graham Holdings Company's fiscal year end?
GHC's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into GHC stock?
At today's market cap of $4.96B, Graham Holdings Company is priced for free-cash-flow growth of about 6.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $275.30M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 14.3%/yr over the last five fiscal years and revenue 11.2%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Graham Holdings Company's official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.