10-K · February 25, 2026
Graham Holdings remains a diversified holding company with a large education franchise (Kaplan) and multiple other operating businesses (broadcasting, healthcare, manufacturing, automotive, media). Consolidated revenue…
Earnings analysis · 10-Q
GHC earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Graham Holdings Company reported a strong performance in Q1 2026, with revenues reaching $1.236 billion, up 6% from the prior year, accompanied by improved net income of $29.1 million. Segment growth was driven by…
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Graham Holdings Company reported a strong performance in Q1 2026, with revenues reaching $1.236 billion, up 6% from the prior year, accompanied by improved net income of $29.1 million. Segment growth was driven by education, television broadcasting, healthcare, and manufacturing, though automotive showed a decline. Despite significant impairment charges from the Kaplan Languages Group, the overall outlook remains positive with various segments anticipating continued growth.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $6.62
- Segment
- Education
- Segment
- Healthcare
- Segment
- Television Broadcasting
- Segment
- Manufacturing
- Segment
- Automotive
- Segment
- Other Businesses
What stood out
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Revenue Growth of 6% YoY
Total revenue increased to $1.236 billion in Q1 2026 from $1.166 billion in Q1 2025.
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Improved EPS to $6.62
Earnings per share rose to $6.62 from $5.45 in Q1 2025.
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Healthcare Division Soars 20%
Healthcare revenue grew by 20%, from $173.7 million to $209.3 million, driven largely by CSI's expansion.
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Television Broadcasting Revenue Up 8%
Television broadcasting revenue increased to $111.6 million, up from $103.6 million a year ago.
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Manufacturing Revenue Increases 28%
Manufacturing revenue rose to $125.0 million, highlighting strong growth post-Acquisition.
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Significant Improvement in Equity Earnings
Equity in earnings of affiliates rose sharply to $34.9 million compared to losses of $8.4 million in Q1 2025.
What to watch
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Significant Impairment Charges
Q1 2026 included a $19.0 million impairment charge related to the Kaplan Languages Group.
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Growing Automotive Sector Challenges
Automotive revenues decreased by 5%, from $280.9 million to $267.6 million, largely due to dealership closures.
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Market Volatility Impact on Securities
GHC recorded net losses of $68.9 million on marketable equity securities in Q1 2026.
Management's outlook
Management anticipates continued revenue growth in healthcare and education sectors, particularly at Kaplan.
Earlier filings 4
10-Q · October 30, 2024
Graham Holdings reported quarter revenue of $1,207.16M (up $95.64M / +8.6% year-over-year) and GAAP diluted EPS of $16.42 versus a loss of $(5.02) in Q3 2023. Gross margin expanded to ~31.5% (from ~29.7%) and operating…
10-Q · July 31, 2024
Graham Holdings Company reported strong Q2 results with revenues of $1.19 billion, a 7.9% increase year-over-year, and a notable earnings surprise as diluted EPS came in at $-4.79 compared to an expected $8.74. The…
10-Q · August 2, 2023
Graham Holdings reported quarterly revenue of $1,104,999,000 and delivered a strong earnings swing to diluted EPS of $25.89 compared with $(13.95) in the prior-year quarter, driven largely by a $78,648,000 net gain on…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.