Graham Holdings Company Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	4,906	4,791	4,415	3,924	3,186	2,889
Revenue	4,906	4,791	4,415	3,924	3,186	2,889
Revenue Growth (YoY)	4.13%	8.52%	12.50%	23.18%	10.27%	-1.47%
Cost of Revenue	3,409	3,325	3,103	2,658	2,115	1,912
Gross Profit	1,497	1,466	1,312	1,267	1,071	977.02
Selling, General & Admin	325.79	281.93	873.57	723.8	722.62	642.31
Amortization of Goodwill & Intangibles	32.68	37.12	50.04	58.85	57.87	56.78
Operating Expenses	438.99	406.09	1,010	855.95	851.91	773.34
Operating Income	1,058	1,060	302.27	410.83	219.55	203.67
Interest Expense	-167.09	-186.15	-63.3	-54.4	-33.94	-38.31
Interest & Investment Income	9.53	9.87	7.12	3.23	3.41	3.87
Earnings From Equity Investments	15.63	-3.3	-5.18	-2.84	17.91	6.66
Currency Exchange Gain (Loss)	3.35	5.42	-1.14	-2.02	-0.18	-2.15
Other Non Operating Income (Expenses)	1.21	1.26	1.04	3.37	7.83	0.39
EBT Excluding Unusual Items	920.87	887.36	240.81	358.16	214.58	174.13
Merger & Restructuring Charges	11.31	-	-	-	-	-27.55
Impairment of Goodwill	18.79	-7.5	-98	-	-	-
Gain (Loss) on Sale of Investments	128.17	179.05	141.64	-130.11	264.2	63.79
Gain (Loss) on Sale of Assets	0.37	8.12	15.62	22.68	3.79	213.3
Asset Writedown	-44.56	-42.32	-1.07	-128.99	-32.94	-16.4
Other Unusual Items	-0.08	-	-	-	-	-
Pretax Income	1,035	1,025	299	121.73	449.63	407.27
Income Tax Expense	290.9	292.1	87.3	51.3	96.3	107.3
Earnings From Continuing Operations	743.97	732.61	211.7	70.43	353.33	299.97
Net Income to Company	743.97	732.61	211.7	70.43	353.33	299.97
Minority Interest in Earnings	-11.62	-7.98	-6.42	-3.36	-1.25	0.4
Net Income	732.36	724.63	205.29	67.08	352.08	300.37
Preferred Dividends & Other Adjustments	4.81	4.9	1.35	0.38	2.26	1.64
Net Income to Common	727.55	719.74	203.94	66.7	349.81	298.73
Net Income Growth	219.66%	252.98%	206.04%	-80.95%	17.22%	-8.38%
Shares Outstanding (Basic)	4	4	5	5	5	5
Shares Outstanding (Diluted)	4	4	5	5	5	5
Shares Change (YoY)	-1.81%	-5.35%	-3.76%	-2.60%	-3.39%	-3.53%
EPS (Basic)	168.32	164.62	43.96	13.83	70.66	58.30
EPS (Diluted)	166.67	163.40	43.82	13.79	70.46	58.13
EPS Growth	225.67%	272.88%	217.77%	-80.43%	21.20%	-5.03%
Free Cash Flow	361.36	324.08	166.43	152.92	39.89	141.07
Free Cash Flow Per Share	82.78	73.57	35.76	31.62	8.03	27.45
Dividend Per Share	8.920	6.880	6.600	6.320	6.040	5.800
Dividend Growth	30.98%	4.24%	4.43%	4.64%	4.14%	4.32%
Gross Margin	30.52%	30.61%	29.72%	32.28%	33.63%	33.82%
Operating Margin	21.57%	22.13%	6.85%	10.47%	6.89%	7.05%
Profit Margin	14.83%	15.02%	4.62%	1.70%	10.98%	10.34%
Free Cash Flow Margin	7.36%	6.76%	3.77%	3.90%	1.25%	4.88%
EBITDA	1,171	1,184	438.37	542.98	348.83	331.14
EBITDA Margin	23.88%	24.72%	9.93%	13.84%	10.95%	11.46%
D&A For EBITDA	113.2	124.17	136.1	132.15	129.29	127.46
EBIT	1,058	1,060	302.27	410.83	219.55	203.67
EBIT Margin	21.57%	22.13%	6.85%	10.47%	6.89%	7.05%
Effective Tax Rate	28.11%	28.51%	29.20%	42.14%	21.42%	26.35%
Revenue as Reported	4,906	4,791	4,415	3,924	3,186	2,889

Source: S&P Global Market Intelligence. Standard template. Financial Sources.