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MARKETS / NYSE / GHC
NYSE · SERVICES-EDUCATIONAL SERVICES · LARGE CAP

Graham Holdings Co. GHC

18 fiscal years on record · USD · FY2025 reported · SEC filings only
9 YEARS OF DIVIDEND GROWTH
$4.9B
▲ 2.5% YoY
$292.3M
▼ 59.7% YoY
$275.3M
▼ 15.0% YoY
In brief

What this company does

Graham Holdings Company provides educational services through Kaplan, Inc. to students, schools, colleges, universities and businesses domestically and outside the United States; owns and operates seven television broadcast stations and provides social media management tools for newsrooms; provides healthcare services including 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; manufactures products including building materials, electrical solutions, lifting solutions, and parts for electric utilities and industrial systems; and operates eight automotive dealerships and valet repair services. Kaplan's relationships include approximately 17,680 companies and approximately 1,510 universities, colleges, schools and school districts, and in 2025 it provided educational services to approximately 1,158,680 students and professionals worldwide. Worldwide, Kaplan employs approximately 6,833 people on a full-time basis, as well as approximately 4,400 part-time employees, across 40 countries. During each of the fiscal years 2025, 2024 and 2023, the Company's operations outside the U.S. accounted for approximately 22%, 22% and 21%, respectively, of its consolidated revenues, and non-U.S. operations represented approximately 18% of its consolidated assets at each of December 31, 2025 and 2024. Advertising revenue accounted for 54% of GMG's total revenue in 2025, derived primarily from the sale of advertising to local, regional and national advertisers. Hoover Treated Wood Products, Inc., founded in 1955, is a multi-product supplier of pressure-impregnated kiln-dried lumber and plywood products to the commercial building industry, headquartered in Augusta, GA.

Written from the business description in Graham Holdings Co's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth
USD 4.9B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 4.9 · Net income 0.3
2B4B2008201120142017202020232025
Compound annual growth
+7.8%
+11.2%
+6.6%
+0.5%
+63.3%
−0.5%
+0.3%
+68.9%
+2.7%
+5.2%
+4.4%
+4.4%
−2.3%
−1.5%
−63.2%
−52.0%
−7.6%
−28.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +11.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
6 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 4.8% · Net 6.2%
20%40%2008201120142017202020232025
ROE
FY2025 · ROE 6.5%
20%40%2008201120142017202020232025

Each USD of equity produced 6 cents of profit this year.

Cash & shareholders
USD 3.5M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 275.3
200.0M400.0M-25.0M-50.0M2008201120142017202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 3.5
200M400MDividendsNet buybacks2008201120142017202020232025

USD 3.5M in buybacks — 1% of the year's profit went back to shareholders.

Total assetsUSD 8.4B
EquityUSD 4.8B
CashUSD 267.0M
Gross debtUSD 880.8M
Net debtUSD 613.8M
Current ratio1.75×

Net debt stands at 13% of equity.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B4.94.84.43.93.22.92.92.72.62.52.62.72.63.43.54.64.34.2
Operating income $B0.20.20.10.10.10.10.10.20.10.2−0.10.20.10.10.30.60.30.2
EBITDA $B0.30.30.20.20.10.20.20.30.20.3−0.00.40.40.40.60.80.60.5
Income tax $B0.10.30.10.10.10.10.10.1−0.10.10.00.30.00.10.10.20.10.1
Net income $B0.30.70.20.10.40.30.30.30.30.2−0.11.30.20.10.10.30.10.1
Free cash flow $B0.30.30.20.20.00.10.10.20.20.2−0.10.10.10.30.20.50.40.2
EPS, diluted $66.47163.4043.8213.7970.4558.1361.2150.2053.8929.80−17.87195.0332.0517.3914.7031.049.786.87
Dividend / sh $7.206.886.606.326.045.805.565.325.084.849.1010.20·9.809.409.008.60·
Payout %·············112643088125
ROE %6.517.65.31.68.68.510.59.3·6.8−3.640.28.05.14.39.73.2·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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Provenance
Company facts, as filed
How we verify · 0 failures · 2 divergences in 70 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 2 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 6 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures2 divergent
ActivityServices-Educational Services
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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