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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. GHC Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Graham (GHC)

Market Price (9/18/2025): $1145.24 | Market Cap: $5.0 Bil
Sector: Consumer Discretionary | Industry: Education Services

Graham (GHC)

Market Price (9/18/2025): $1145.24
Market Cap: $5.0 Bil
Sector: Consumer Discretionary
Industry: Education Services

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.6%, FCF Yield is 8.5%		 Trading close to highs
Dist 52W High is -2.9%, Dist 3Y High is -2.9%		 
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%		  
2 Low stock price volatility
Vol 12M is 29%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.6%, FCF Yield is 8.5%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%
2 Low stock price volatility
Vol 12M is 29%
3 Trading close to highs
Dist 52W High is -2.9%, Dist 3Y High is -2.9%

Market Valuation

 9/18/252024202320222021
Share Price CYE$1,145.24$866.77$686.16$588.69$607.05
Market Cap CYE ($ Bil)5.03.73.12.83.0
Total Debt ($ Bil)1.31.21.31.21.2
Total Cash ($ Bil)1.11.10.90.81.0
Enterprise Value ($ Bil)5.14.94.44.04.2
Valuation Ratios     
P/S TTM1.00.80.70.71.0
P/EBIT TTM4.33.18.916.56.5
P/E TTM7.35.315.743.48.9
Sector Ratios     
P/S TTM (Sector)0.80.80.90.81.3
P/EBIT TTM (Sector)7.26.97.05.57.4
P/E TTM (Sector)9.58.18.97.39.2
 9/18/2520242023
Share Price CYE$1,145.24$866.77$686.16
Market Cap CYE ($ Bil)5.03.73.1
Total Debt ($ Bil)1.31.21.3
Total Cash ($ Bil)1.11.10.9
Enterprise Value ($ Bil)5.14.94.4
Valuation Ratios   
P/S TTM1.00.80.7
P/EBIT TTM4.33.18.9
P/E TTM7.35.315.7
Sector Ratios   
P/S TTM (Sector)0.80.80.9
P/EBIT TTM (Sector)7.26.97.0
P/E TTM (Sector)9.58.18.9

Market Cap Chart

Business Description

Graham Holdings Company, through its subsidiaries, operates as a diversified education and media company worldwide. It provides test preparation services and materials; data science and training services; professional training and exam preparation for professional certifications and licensures; and non-academic operations support services to the Purdue University Global. The company also offers training, test preparation, and degrees for accounting and financial services professionals; English-language training, academic preparation programs, and test preparation for English proficiency exams; and A-level examination preparation services, as well as operates three colleges, a business school, a higher education institution, and an online learning institution. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
GHC Return-15%19%-3%17%26%32%95%
Peers Return-3%11%0%83%44%26%258%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DUOL, LRN, LOPE, ATGE, GHC. See GHC Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than Graham (GHC)

 GHCBetter Performance than GHC
MetricValueIndustry (Education Services)
Rev Chg LTM4.7%DUOL (39.5%), LRN (17.9%), LOPE (6.5%), ATGE (12.9%), PRDO (6.3%)
Rev Chg 3Y Avg11.3%DUOL (42.5%), LRN (12.6%), LAUR (11.8%), COUR (15.6%), UTI (26.2%)
Op Mgn LTM6.2%DUOL (9.5%), LRN (17.4%), LOPE (27.2%), ATGE (19.3%), LAUR (22.9%)
CFO/Rev LTM10.2%DUOL (38.0%), LRN (18.0%), LOPE (27.9%), ATGE (18.9%), LAUR (16.8%)
FCF/Rev LTM8.7%DUOL (36.3%), LRN (15.5%), LOPE (24.4%), ATGE (16.1%), LAUR (12.9%)
Total Yield14.1%AFYA (48.1%), VSTA (118.2%)
 GHCBetter Performance than GHC
MetricValueAll Other Sectors
Rev Chg LTM4.7%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), META (19.4%)
Rev Chg 3Y Avg11.3%NVDA (92.0%), MSFT (12.5%), META (13.0%), AVGO (24.0%), BRK-B (16.6%)
Op Mgn LTM6.2%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM10.2%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), META (56.4%)
FCF/Rev LTM8.7%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), META (30.7%)
Total Yield14.1%VZ (15.8%), TD (15.5%), CMCSA (16.8%), MO (14.2%), UPS (15.6%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Graham Earnings Notes  
2With GHC Up 18% in a Month, Is It Time to Compare It Against TMUS?Counter-Intuitive Comparisons 
3GHC Jumps 18% in a Month, But Does GM Offer Better Fundamentals?Counter-Intuitive Comparisons 
4GHC Jumps 18% in a Month, But Does ATGE Offer Better Fundamentals?Counter-Intuitive Comparisons 
5How Does GHC Stack Up Against Its Peers?Peer Comparison 
6Better Bet Than GHC Stock: Pay Less Than Graham To Get More From EXEL, CALM   
7GHC Dip Buy Analysis  
8Graham Total Shareholder Return (TSR): 27.0% in 2024 and 13.5% 3-yr compounded annual returns (above peer average)  
9Graham (GHC) Operating Cash Flow ComparisonFinancials 
10Graham (GHC) Net Income ComparisonFinancials 
11ARTICLES  
12Small Cap Stocks Trading At 52-Week High September 5th, 2025

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Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Graham

Financials

GHCDUOLLRNLOPEATGEMedian
NameGraham Duolingo Stride Grand Ca.Adtalem . 
Mkt Price1,143.31279.16138.54208.82136.11208.82
Mkt Cap5.012.76.05.84.95.8
Rev LTM4,8358852,4051,0681,7881,788
Op Inc LTM29884420290345298
FCF LTM419321373261288321
FCF 3Y Avg228203242226233228
CFO LTM495336433298338338
CFO 3Y Avg315219305267275275

Growth & Margins

GHCDUOLLRNLOPEATGEMedian
NameGraham Duolingo Stride Grand Ca.Adtalem . 
Rev Chg LTM4.7%39.5%17.9%6.5%12.9%12.9%
Rev Chg 3Y Avg11.3%42.5%12.6%5.8%8.9%11.3%
Rev Chg Q2.6%41.5%22.4%8.8%11.5%11.5%
QoQ Delta Rev Chg LTM0.6%9.1%5.2%1.9%2.7%2.7%
Op Mgn LTM6.2%9.5%17.4%27.2%19.3%17.4%
Op Mgn 3Y Avg5.0%1.1%12.9%26.4%16.7%12.9%
QoQ Delta Op Mgn LTM0.4%0.9%1.0%0.3%-0.3%0.4%
CFO/Rev LTM10.2%38.0%18.0%27.9%18.9%18.9%
CFO/Rev 3Y Avg6.8%31.4%14.2%26.6%16.9%16.9%
FCF/Rev LTM8.7%36.3%15.5%24.4%16.1%16.1%
FCF/Rev 3Y Avg4.9%29.0%11.2%22.6%14.4%14.4%

Valuation

GHCDUOLLRNLOPEATGEMedian
NameGraham Duolingo Stride Grand Ca.Adtalem . 
Mkt Cap5.012.76.05.84.95.8
P/S1.014.42.55.52.72.7
P/EBIT4.3150.815.219.314.315.2
P/E7.3108.720.824.720.720.8
P/CFO10.037.913.819.614.514.5
Total Yield14.1%0.9%4.8%4.0%4.8%4.8%
Dividend Yield0.3%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg6.5%1.8%7.3%5.5%9.0%6.5%
D/E0.30.00.10.00.20.1
Net D/E0.0-0.1-0.1-0.00.1-0.0

Returns

GHCDUOLLRNLOPEATGEMedian
NameGraham Duolingo Stride Grand Ca.Adtalem . 
1M Rtn7.6%-24.4%-14.8%4.8%5.9%4.8%
3M Rtn19.8%-41.7%-4.4%10.9%9.3%9.3%
6M Rtn19.0%-7.3%14.1%22.5%36.9%19.0%
12M Rtn46.8%15.1%69.0%47.2%84.9%47.2%
3Y Rtn112.7%181.1%245.4%145.4%265.2%181.1%
1M Excs Rtn5.2%-26.7%-17.2%2.4%3.6%2.4%
3M Excs Rtn10.3%-51.7%-14.4%2.2%0.4%0.4%
6M Excs Rtn4.8%-20.9%-2.3%7.3%24.4%4.8%
12M Excs Rtn31.9%4.7%50.6%28.6%69.5%31.9%
3Y Excs Rtn42.2%114.9%188.7%86.4%185.4%114.9%

Comparison Analyses

Title
0How Does GHC Stack Up Against Its Peers?
1GHC or STRA - With 14% Return Forecast, STRA Probably Deserves Your Money
2CENT or GHC - With 14% Return Forecast, GHC Probably Deserves Your Money
3Graham Holdings vs. Arista Networks: With Return Forecast Of 13%, Arista Networks Is A Better Bet
4Graham Holdings vs. KB Home: Similar Market Cap, But KB Home Is A Better Bet
5Graham Holdings vs. Fluor: Similar Market Cap, But Fluor Is A Better Bet
6Graham Holdings vs. Sensient Technologies: Similar Market Cap, Similar Bets
7Graham Holdings Company vs ProShares UltraShort DJ: Similar Market Cap; Which Stock Is A Better Bet?
8Graham Holdings Company vs Chegg: Similar Market Cap; Which Stock Is A Better Bet?
9Graham Holdings Company vs Marvell Technology Group: Similar Revenue; Which Stock Is A Better Bet?

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/30/20254/30/20252/26/202510/30/20247/31/20245/1/20242/23/202411/1/20238/2/20235/3/20232/24/202311/2/2022
Key Financials Quarterly            
Total Revenue1,2161,1661,2461,2071,1851,1531,1671,1121,1051,0321,0641,012
Ebitda120158875210125238149150228138221110
Operating Income734796825235414158287460
Net Income372454973-2112453-2312352633
EPS8.435.50126.6316.54-4.7927.8711.73-5.0225.9610.911.286.78
Key Financials TTM            
Total Revenue TTM4,8354,8044,7914,7124,6164,5364,4154,3124,2134,0413,9243,723
Ebitda TTM1,3641,3681,448722662766665737697447505449
Operating Income TTM298277265210170176168202220201213163
Net Income TTM6826247252291342772051582142467146
Growth Rates Quarterly            
Total Revenue Growth2.6%1.1%6.8%8.6%7.3%11.7%9.7%9.8%18.4%12.8%23.3%25.1%
EBITDA Growth-3.5%-33.5%486.0%40.0%-45.4%73.1%-32.4%36.2%1144.9%-29.6%33.8%-10.5%
Operating Income Growth39.4%33.9%135.4%98.1%-10.1%24.8%-44.9%-30.8%47.6%-28.9%209.6%486.8%
Net Income Growth274.7%-80.8%930.4%414.8%-117.1%137.9%764.6%-170.3%281.9%-45.3%-92.7%-17.2%
Margins Quarterly            
EBITDA Margin9.9%13.6%70.2%17.4%10.5%20.7%12.8%13.5%20.6%13.3%20.8%10.9%
Operating Income Margin6.0%4.1%7.7%6.8%4.4%3.1%3.5%3.7%5.3%2.8%7.0%5.9%
Net Income Margin3.0%2.0%44.1%6.0%-1.8%10.8%4.6%-2.1%11.1%5.1%0.6%3.2%
Cash & Debt            
Total Cash1,0741,0661,1201,076963934867832773740792761
Total Debt1,2531,2971,1691,2131,2721,2431,2531,1991,1601,1511,1901,168
Net Debt / (Cash)17923150137310310386367387411398407
Cash Flows Quarterly            
FCF from Operations954611623852157140392332104
Cash Flows TTM            
FCF from Operations TTM495452407348251238260234198214236209
Returns to Shareholders Quarterly            
Dividends887888788888
Share Repurchases-0316492920616346231720
Return on Invested Capital (ROIC) Quarterly            
ROIC108.5%62.8%562.5%157.3%67.4%34.0%32.4%44.9%44.8%20.3%15.9%42.6%
Return on Invested Capital (ROIC) TTM            
ROIC TTM119.5%85.3%381.5%106.9%35.9%40.7%30.9%34.7%39.1%21.3%30.9%30.8%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Automotive1,080734327258 
Kaplan international967816727654750
Television broadcasting472536494525463
Healthcare459326223198162
Manufacturing448487458416449
Other Businesses and Corporate Office Revenues371416   
Higher education327310322316306
Supplemental education293302309327389
Kaplan corporate and other111010139
Intersegment elimination-14-12-9-6-3
Corporate Costs  0  
Other businesses  324187407
Total4,4153,9243,1862,8892,932


Operating Income by Segment
$ Mil20242023202220212020
Television broadcasting139207149194153
Kaplan international8872331542
Manufacturing4754-161220
Automotive393512-6 
Higher education3925252414
Healthcare281927268
Supplemental education2221372034
Intersegment elimination-0-000-0
Kaplan corporate and other-30-19-45-48-42
Amortization of Intangible Assets-50-59   
Corporate Costs-56-56-59-52-51
Other businesses-98-86-86-86-33
Impairment of Goodwill and Other Long-Lived Assets-99-129   
Total698477100145


Assets by Segment
$ Mil20242023202220212020
Prepaid Pension Cost2,114  1,7081,292
Kaplan international1,538  1,4561,455
Investments in Marketable Equity Securities690  573585
Automotive597  152 
Manufacturing432  552564
Television broadcasting420  454464
Other businesses369  366567
Healthcare265  161160
Supplemental education250  275312
Higher education188  187197
Investments in Affiliates186  156162
Corporate Costs94  348104
Kaplan corporate and other46  5868
Total7,188  6,4445,931


Price Behavior

GHC Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.731.601.230.730.840.84
Up Beta2.182.742.360.720.790.84
Down Beta2.152.372.080.830.800.77
Up Capture221%117%74%64%105%74%
Bmk +ve Days10223571142415
Stock +ve Days13243462125378
Down Capture39%9%15%68%89%95%
Bmk -ve Days11192754106334
Stock -ve Days8182963123372

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity71,202
Short Interest: % Change Since 8152025-7.7%
Average Daily Volume38,723
Days-to-Cover Short Interest1.84
Basic Shares Quantity4,333,000
Short % of Basic Shares1.6%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/20253.1%3.0%18.4%
2/26/20253.5%1.0%3.5%
10/30/20246.5%8.9%18.6%
7/31/2024-4.9%-13.2%-3.1%
2/23/2024-1.8%-0.7%5.7%
11/1/20230.1%7.3%8.4%
8/2/20230.2%3.5%0.6%
2/24/2023-1.7%-4.8%-12.6%
...
SUMMARY STATS   
# Positive101011
# Negative998
Median Positive2.0%4.3%5.7%
Median Negative-1.8%-2.9%-6.8%
Max Positive6.5%14.7%18.6%
Max Negative-4.9%-13.2%-31.1%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025730202510-Q 6/30/2025
3312025430202510-Q 3/31/2025
12312024226202510-K 12/31/2024
93020241030202410-Q 9/30/2024
6302024731202410-Q 6/30/2024
3312024501202410-Q 3/31/2024
12312023223202410-K 12/31/2023
93020231101202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023503202310-Q 3/31/2023
12312022224202310-K 12/31/2022
93020221102202210-Q 9/30/2022
6302022803202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021225202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Weymouth Katharine 11142024Sell949.26378358,8201,533,055Form
1GAYNER THOMAS SINNICKSON 9132024Buy743.3010074,330520,310Form

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