Graham Holdings Company Class B (GHC) financials
Graham Holdings revenue and earnings by year
Graham Holdings's revenue was $4.91 billion in the fiscal year to December 31, 2025, up 2.5% from the year before. Net income was $292 million, 6.0% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 7.9% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4.91 | 4.79 | 4.41 | 3.92 | 3.19 | 2.89 | 2.93 | 2.70 | 2.59 | 2.48 |
| Revenue growth | 2.5% | 8.5% | 12.5% | 23.2% | 10.3% | -1.5% | 8.8% | 4.0% | 4.4% | — |
| Gross profit | 1.47 | 1.47 | 1.31 | 1.27 | 1.07 | 0.98 | 0.98 | 1.11 | 1.14 | 1.21 |
| Gross margin | 29.9% | 30.6% | 29.7% | 32.3% | 33.6% | 33.8% | 33.6% | 41.1% | 43.9% | 48.8% |
| Operating income | 0.23 | 0.22 | 0.07 | 0.08 | 0.08 | 0.10 | 0.14 | 0.25 | 0.14 | 0.22 |
| Operating margin | 4.8% | 4.5% | 1.6% | 2.1% | 2.4% | 3.5% | 4.9% | 9.1% | 5.3% | 9.0% |
| Net income | 0.29 | 0.72 | 0.21 | 0.07 | 0.35 | 0.30 | 0.33 | 0.27 | 0.30 | 0.17 |
| Net margin | 6.0% | 15.1% | 4.6% | 1.7% | 11.1% | 10.4% | 11.2% | 10.1% | 11.7% | 6.8% |
| Diluted EPS | $66.47 | $163.40 | $43.47 | $13.54 | $70.45 | $59.84 | $61.21 | $50.30 | $54.15 | $29.79 |
| Free cash flow | 0.28 | 0.32 | 0.17 | 0.15 | 0.04 | 0.14 | 0.07 | 0.19 | 0.21 | 0.19 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open GHC in Markets.
How Graham Holdings makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Reportable Segment Aggregation Before Other Operating | $1.24B | 90.8% |
| Television Broadcasting | $125M | 9.2% |
See also: GHC valuation and P/E history · GHC returns
No forecast, no recommendation. This page describes Graham Holdings Company Class B from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.