Graham Holdings Company (GHC)

Graham Holdings Company Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	308.3	303.27	732.61	211.7	70.43	353.33
Depreciation & Amortization	200.3	184.49	237.24	302.9	328.71	235.98
Stock-Based Compensation	5.67	5.72	6.33	6.71	6.12	5.66
Other Adjustments	-65.53	-170.53	-680.53	-192.51	-42.5	-281.3
Change in Receivables	20.72	-11.2	11.32	8.23	45.52	-47.43
Changes in Inventories	-2.68	35.29	8.3	-62.87	-64.32	4.55
Changes in Accounts Payable	3.68	5.28	13.91	24.7	-33.59	32.4
Changes in Income Taxes Payable	-11.72	-10.73	3.22	6.15	6.77	-8.69
Changes in Unearned Revenue	-18.79	-1.71	6.44	38.5	18.22	7.22
Changes in Other Operating Activities	-59.89	7.31	68.17	-83.64	-99.75	-99.29
Operating Cash Flow	368.9	347.19	406.99	259.88	235.6	202.43
Operating Cash Flow Growth	-18.37%	-14.69%	56.61%	10.30%	16.39%	-3.91%
Capital Expenditures	-75.57	-71.88	-82.91	-93.45	-82.68	-162.54
Purchases of Investments	-68.09	-69.4	-11.55	-50.21	-79.41	-56.57
Proceeds from Sale of Investments	49.99	-	23.52	61.98	102.04	65.5
Payments for Business Acquisitions	-89.4	-71.24	-4.12	-78.15	-130.11	-351.88
Proceeds from Business Divestments	25.89	26.16	8.39	4.29	5.06	10.3
Other Investing Activities	6.78	6.91	4.34	2.56	1.04	0.56
Investing Cash Flow	-150.35	-179.44	-62.33	-152.98	-184.07	-494.64
Short-Term Debt Issued	-43.61	117.99	-36.17	-30.51	29.23	124.13
Net Short-Term Debt Issued (Repaid)	-43.61	117.99	-36.17	-30.51	29.23	124.13
Long-Term Debt Issued	-	538.9	1.39	293.39	77.3	70.18
Long-Term Debt Repaid	-562.92	-558.09	-29.03	-121.74	-14.48	-49.65
Net Long-Term Debt Issued (Repaid)	-562.92	-19.19	-27.64	171.64	62.82	20.54
Issuance of Common Stock	-	0.76	0.6	3.93	8.12	7.19
Repurchase of Common Stock	-52.01	-5.76	-116.09	-198.15	-72.59	-59.19
Net Common Stock Issued (Repurchased)	-52.01	-5	-115.48	-194.22	-64.47	-52
Common Dividends Paid	-38.62	-223.26	-36.46	-36.26	-33.69	-30.78
Other Financing Activities	-21.91	-36.03	-25.21	-10.49	-11.99	-30.87
Financing Cash Flow	-195.85	-165.48	-240.97	-99.84	-18.11	31.03
Effect of Exchange Rate Changes on Cash and Cash Equivalents	4.31	11.29	-7.73	4.39	-1.84	-3.03
Net Cash Flow	27.02	13.55	95.96	11.46	31.59	-264.21
Free Cash Flow	293.33	275.3	324.08	166.43	152.92	39.89
Free Cash Flow Growth	6.55%	-15.05%	94.72%	8.83%	283.36%	-71.72%
FCF Margin	5.89%	5.61%	6.76%	3.77%	3.90%	1.25%
Free Cash Flow Per Share	67.03	62.96	73.57	35.76	32.01	8.03
Levered Free Cash Flow	-273.69	539.14	915.18	478.71	232.47	506.38
Unlevered Free Cash Flow	199.58	306.5	408.43	181.42	121.89	70.44

Updated Apr 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q