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Graham Holdings GHC Non U.S. — Operating Revenues

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Other financials

Income statement

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Revenue$1.3B+7.1%
Gross profit$340.5M-2.3%
Operating income$83.6M+15.0%
Net income$281.1M+665%
EPS (diluted)$64.86+677%

Balance sheet

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Cash & equivalents$208.1M-9.3%
Total debt$1.5B-12.8%
Total equity$4.8B+9.4%
Total assets$8.1B+6.9%

Cash flow

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Operating cash flow$52.7M-44.4%
CapEx$20.1M+19.4%
Free cash flow$32.6M-58.2%

Valuation

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Market cap$5.06B+20.2%
Enterprise value$6.38B+11.3%
P/E9.3×+3.2×
P/S+0.1×

Profitability

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Gross margin29.7%-2.6pp
Operating margin5.1%-0.6pp
Net margin10.7%-3.4pp
FCF margin4.9%-3.8pp

Returns & leverage

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Return on equity11.9%-4.5pp
Debt / equity0.3×-0.1×
Current ratio1.9×+0.6×

Where this comes from

Reported directly by Graham Holdings in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Graham Holdings’s 10-K, filed February 25, 2026.

Filed
Feb 25, 2026, 8:19 AM EST
Fiscal year
FY2025
Accession
0001628280-26-011405

Geographical Information. The Company’s non-U.S. revenues in 2025, 2024 and 2023 totaled approximately $1,074 million, $1,042 million and $930 million, respectively, primarily from Kaplan’s operations outside the U.S. Additionally, revenues in 2025, 2024 and 2023 totaled approximately $609 million, $618 million, and $543 million, respectively, from Kaplan’s operations in the U.K. The Company’s long-lived assets in non-U.S. countries (excluding goodwill and other intangible assets), totaled approximately $440 million and $455 million at December 31, 2025 and 2024, respectively.

Item 16. Form 10-K Summary.

FAQ

What is Graham Holdings's non U.S. — operating revenues?
Graham Holdings (GHC) reported non U.S. — operating revenues of $268.5M in Q4 2025.
How has Graham Holdings's non U.S. — operating revenues changed year-over-year?
Graham Holdings's non U.S. — operating revenues increased by 3.1% year-over-year, from $260.5M to $268.5M.
What is the long-term trend for Graham Holdings's non U.S. — operating revenues?
Over 4 years (2021 to 2025), Graham Holdings's non U.S. — operating revenues has grown at a 10.9% compound annual growth rate (CAGR), from $709M to $1.07B.
What does non U.S. — operating revenues mean?
This metric represents the total gross revenue generated by the company's business activities conducted outside of its home country. It serves as a key indicator of the organization's international market penetration and the scale of its global operations. Tracking this figure helps investors assess the company's geographic diversification and its exposure to foreign economic conditions.

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