What is Graham Holdings's net margin?

Graham Holdings (GHC) reported net margin of 6% in Q1 2026.

How has Graham Holdings's net margin changed year-over-year?

Graham Holdings's net margin decreased by 54.0% year-over-year, from 13% to 6%.

What is the long-term trend for Graham Holdings's net margin?

Over 5 years (2020 to 2025), Graham Holdings's net margin has grown at a -10.6% compound annual growth rate (CAGR), from 10.4% to 6%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Graham Holdings GHC Net margin

Net margin at other companies

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10.6%+0.5pp

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28.5%+5.4pp

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9.9%+3.2pp

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-2.4%-0.4pp

BrightSpring Health Services, Inc.BTSG

2.3%—

Nexstar Media Group, Inc.NXST

10%-1.3pp

Other financials

Income statement

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Revenue$1.2B+6.0%

Gross profit$340.5M-2.3%

Operating income$57.8M+21.8%

Net income$29.1M+21.8%

EPS (diluted)$6.62+21.5%

Balance sheet

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Cash & equivalents$234.0M+13.1%

Total debt$1.4B-6.4%

Total equity$4.7B+10.2%

Total assets$8.2B+7.4%

Cash flow

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Operating cash flow$67.7M+47.2%

CapEx$19.2M+23.8%

Free cash flow$48.6M+59.0%

Valuation

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Market cap$4.93B+9.7%

Enterprise value$6.05B+5.3%

P/E16.6×+9.4×

P/S1×+0.1×

Profitability

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Gross margin29.7%-2.6pp

Operating margin4.9%+0.2pp

FCF margin5.9%-1.9pp

Returns & leverage

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Return on equity6.6%-8.4pp

Debt / equity0.3×-0.1×

Current ratio1.8×+0.2×

Where this comes from

Calculated from Graham Holdings’s reported figures.

net income/total revenue=6%

Based on trailing twelve months.

The official record: Graham Holdings’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Graham Holdings's net margin?: Graham Holdings (GHC) reported net margin of 6% in Q1 2026.
How has Graham Holdings's net margin changed year-over-year?: Graham Holdings's net margin decreased by 54.0% year-over-year, from 13% to 6%.
What is the long-term trend for Graham Holdings's net margin?: Over 5 years (2020 to 2025), Graham Holdings's net margin has grown at a -10.6% compound annual growth rate (CAGR), from 10.4% to 6%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.