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Graham Holdings (GHC) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Industrials•Conglomerates
B
GoodMetricSide Score: 62/100
ProfitabilityProfit11/30
GrowthGrowth12/25
Balance SheetBalance21/25
Cash QualityCash18/20
Price & Volume
Market Cap $5.13B

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.

Moat Signals

Competitive analysis based on 64 quarters of fundamental data

Pricing Power

Moderate Moat

Operating margins are positive at ~4.8% on average, but show some variability — pricing power may be sensitive to market conditions.

Competitive Advantage

Moderate Moat

ROE is positive at ~10.6% on average, adequate but below the threshold typically associated with wide moats.

Risk Signals

Data-driven red flags and warnings across 64 quarters

Low Risk

Margin Pressure

Healthy

Margins are stable or improving at ~4.9% — no sign of cost or pricing stress.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Healthy

D/E ratio is 0.2 — conservative capital structure with low financial risk.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Healthy

Free cash flow is consistently positive — the business self-funds without external capital reliance.

Share Dilution

Healthy

Share count is stable — no significant dilution or buyback activity.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$4.98B
3.7%
Q. Revenue
$1.24B
TTM EBITDA
$353.78M
2.0%
TTM Op. Income
$245.31M
7.8%
Q. Op. Income
$57.83M
TTM Net Income
$297.50M
52.3%
Q. Net Income
$29.11M
EPS
$6.68
Shares Out.
$4.33M
0.3%
$4.98B in TTM revenue grew 3.7% YoY, reaching $1.24B last quarter. TTM EBITDA of $353.78M and TTM operating income of $245.31M shows growth is flowing through. Net income of $297.50M TTM confirms the company is converting revenue into profit. Revenue is growing modestly — monitor for acceleration or deceleration.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
6.7%
Op. Margin
4.7%
14.9%
Net Margin
2.4%
14.9%
Op. margin of 4.7% is up 0.6% YoY — cost efficiency is improving. Net margin at 2.4%.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
17.2x
P/S Ratio
1.0x
P/B Ratio
1.1x
At 17.2x P/E, the stock trades in line with market averages — fairly valued. P/S of 1.0x and P/B of 1.1x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$8.18B
Cash
$135.68M
Long-Term Debt
$714.88M
Book Value
$4.73B
D/E Ratio
0.2
Debt/EBITDA
8.7
With $8.18B in assets and $714.88M in long-term debt, the D/E of 0.2and book value of $4.73B — shows a conservative capital structure — the company has a strong financial cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$67.73M
TTM Free Cash Flow
$293.33M
21.7%
FCF Margin
5.9%
FCF / Net Income
1.0
TTM FCF of $293.33M on $67.73M in operating cash flow. The FCF / Net Income ratio of 1.0x means earnings are well backed by actual cash — high-quality earnings.

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Cash Generation

Moderate Moat

8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Strong Moat

TTM revenue has grown consistently (7 of 7 quarters up), with ~7.9% growth over the period. Strong demand durability.