Graham Holdings Company (GHC)
NYSE: GHC · Real-Time Price · USD
1,129.02
+11.57 (1.04%)
Sep 10, 2026, 3:23 PM EDT - Market open
Graham Holdings Company Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 541.86 | 292.29 | 724.63 | 205.29 | 67.08 | 352.08 |
Depreciation & Amortization | 166.21 | 172.16 | 187.42 | 203.84 | 199.72 | 203.04 |
Loss (Gain) From Sale of Assets | 5.7 | 1.04 | -7.65 | -10.84 | -20.32 | 0.8 |
Asset Writedown & Restructuring Costs | 41.85 | 21.52 | 70.82 | 108.95 | 132.61 | 32.94 |
Loss (Gain) From Sale of Investments | -204.34 | -190.48 | -179.05 | -141.64 | 130.11 | -264.2 |
Loss (Gain) on Equity Investments | 4.93 | -3.88 | 18.84 | 20.75 | 13.5 | 4.92 |
Stock-Based Compensation | 5.72 | 5.72 | 6.33 | 6.71 | 6.12 | 5.66 |
Provision & Write-off of Bad Debts | 4.71 | 3.88 | 3.59 | 6.05 | 2.96 | 6.82 |
Other Operating Activities | -113.74 | 20.7 | -529.29 | -70.29 | -169.02 | -28.39 |
Change in Accounts Receivable | 8.9 | -11.2 | 11.32 | 8.23 | 45.52 | -47.43 |
Change in Inventory | -25.16 | 35.29 | 8.3 | -62.87 | -64.32 | 4.55 |
Change in Accounts Payable | -5.25 | 5.28 | 13.91 | 24.7 | -33.59 | 32.4 |
Change in Unearned Revenue | -32.81 | -1.71 | 6.44 | 38.5 | 18.22 | 7.22 |
Change in Income Taxes | -1.17 | -10.73 | 3.22 | 6.15 | 6.77 | -8.69 |
Change in Other Net Operating Assets | -70.62 | 7.31 | 68.17 | -83.64 | -99.75 | -99.29 |
Operating Cash Flow | 326.79 | 347.19 | 406.99 | 259.88 | 235.6 | 202.43 |
Operating Cash Flow Growth | -33.94% | -14.69% | 56.61% | 10.30% | 16.39% | -3.91% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -78.83 | -71.88 | -82.91 | -93.45 | -82.68 | -162.54 |
Cash Acquisitions | -86.95 | -71.24 | -4.12 | -78.15 | -130.11 | -351.88 |
Divestitures | -21.24 | 26.16 | 8.39 | 4.29 | 5.06 | 10.3 |
Investment in Securities | -33.28 | -69.4 | 13.97 | 41.77 | 22.63 | 8.93 |
Other Investing Activities | 23.33 | 6.91 | 2.34 | -27.44 | 1.04 | 0.56 |
Investing Cash Flow | -196.96 | -179.44 | -62.33 | -152.98 | -184.07 | -494.64 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | - | 73.73 | 26.23 | - |
Long-Term Debt Issued | - | 690.75 | 1.39 | 293.39 | 80.3 | 204.88 |
Total Debt Issued | 628.84 | 690.75 | 1.39 | 367.12 | 106.53 | 204.88 |
Short-Term Debt Repaid | - | -33.86 | -0.42 | - | - | -10.56 |
Long-Term Debt Repaid | - | -576.05 | -78.21 | -230.8 | -16.58 | -49.65 |
Total Debt Repaid | -580.12 | -609.92 | -78.62 | -230.8 | -16.58 | -60.21 |
Net Debt Issued (Repaid) | 48.72 | 80.83 | -77.23 | 136.32 | 89.95 | 144.67 |
Repurchase of Common Stock | -121.99 | -3.47 | -114.1 | -193.16 | -71.39 | -55.68 |
Common Dividends Paid | -32.01 | -31.36 | -30.35 | -30.95 | -30.71 | -30.14 |
Dividends Paid | -32.01 | -31.36 | -30.35 | -30.95 | -30.71 | -30.14 |
Other Financing Activities | -44.15 | -211.48 | -19.29 | -12.04 | -5.96 | -27.83 |
Financing Cash Flow | -149.43 | -165.48 | -240.97 | -99.84 | -18.11 | 31.03 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -1.63 | 11.29 | -7.73 | 4.39 | -1.84 | -3.03 |
Net Cash Flow | -21.24 | 13.55 | 95.96 | 11.46 | 31.59 | -264.21 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 247.96 | 275.3 | 324.08 | 166.43 | 152.92 | 39.89 |
Free Cash Flow Growth | -40.83% | -15.05% | 94.72% | 8.83% | 283.36% | -71.72% |
Free Cash Flow Margin | 4.89% | 5.61% | 6.76% | 3.77% | 3.90% | 1.25% |
Free Cash Flow Per Share | 56.85 | 62.95 | 73.57 | 35.76 | 31.62 | 8.03 |
Levered Free Cash Flow | 267.69 | 233.51 | 677.12 | 255.05 | 242.89 | 145.07 |
Unlevered Free Cash Flow | 300.06 | 307.75 | 793.46 | 294.61 | 276.89 | 166.29 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 63 | 63 | 69 | 51 | 37 | 30 |
Cash Income Tax Paid | 62.83 | 62.83 | 63.3 | 39.28 | 48 | 39 |
Change in Working Capital | -126.12 | 24.24 | 111.34 | -68.94 | -127.16 | -111.24 |