Graham Holdings Co Stock Research

Market Summary

USD569.61+0.12

Market Closed

0.02%

GHC Alerts

1 major insider buys recently.
Big fall in earnings (Y/Y)

GHC Stock Price

GHC RSI Chart

GHC Valuation

Market Cap

2.9B

Price/Earnings (Trailing)

43.01

Price/Sales (Trailing)

0.74

EV/EBITDA

10.89

Price/Free Cashflow

18.87

GHC Price/Sales (Trailing)

GHC Profitability

EBT Margin

3.10%

Return on Equity

1.8%

Return on Assets

1.02%

Free Cashflow Yield

5.3%

GHC Fundamentals

GHC Revenue

Revenue (TTM)

4.0B

Revenue Y/Y

12.77%

Revenue Q/Q

-3.05%

GHC Earnings

Earnings (TTM)

24.6M

Earnings Y/Y

-45.87%

Earnings Q/Q

748.57%

Price Action

52 Week Range

525.58681.70

(Low)(High)

Last 7 days

-2.5%

Last 30 days

-0.4%

Last 90 days

-11.7%

Trailing 12 Months

-4.3%

GHC Financial Health

Current Ratio

1.45

GHC Investor Care

Buy Backs (1Y)

3.08%

Diluted EPS (TTM)

Peers (Alternatives to Graham Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MGM	14.8B	14.1B	-4.67%	17.17%	7.58	1.05	29.94%	24.85%
WYNN	11.5B	4.2B	-7.60%	56.96%	-50.44	2.72	6.20%	65.33%
MID-CAP
SCI	9.8B	4.0B	-8.23%	-6.41%	19.94	2.43	-3.65%	-38.18%
MTN	9.7B	2.8B	2.73%	-3.15%	29.01	3.45	29.86%	54.02%
HRB	6.7B	3.5B	-9.93%	-12.25%	12.03	1.92	-	-
BFAM	4.8B	2.1B	14.86%	-5.07%	69.47	2.28	15.83%	-16.16%
PENN	4.5B	6.4B	-8.85%	-18.60%	20.2	0.7	8.41%	79.53%
LOPE	3.3B	917.3M	-8.28%	19.08%	17.58	3.57	1.50%	-22.44%
GHC	2.9B	4.0B	-0.37%	-4.30%	43.01	0.74	19.27%	-92.70%
STRA	2.0B	1.1B	-14.08%	23.61%	51.91	1.84	-3.36%	-28.41%
CHGG	1.1B	752.3M	-49.84%	-50.62%	4.18	1.46	-3.57%	278.74%
SMALL-CAP
ATGE	1.9B	1.4B	3.53%	33.66%	23.32	1.29	15.91%	-74.83%
LRN	1.7B	1.8B	-6.13%	2.90%	15.48	0.95	11.06%	24.63%
PRDO	805.0M	707.8M	-9.83%	11.39%	8.19	1.14	2.24%	-11.44%
APEI	107.6M	601.3M	-8.55%	-58.85%	-0.84	0.18	23.97%	-951.72%

Financials for Graham Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	3.0%	4,041	3,924	3,723	3,520	3,388
EBITDA	-21.9%	249	319	303	539	-
EBITDA Margin	-25.9%	0.06*	0.09*	0.09*	0.16*	-
Earnings Before Taxes	-49.3%	62.00	122	193	181	428
EBT Margin	-40.3%	0.03*	0.05*	0.05*	0.13*	-
Interest Expenses	5.3%	57.00	54.00	48.00	46.00	37.00
Net Income	-63.3%	25.00	67.00	147	154	337
Net Income Margin	-56.8%	0.02*	0.04*	0.04*	0.10*	-
Free Cahsflow	17.5%	153	130	62.00	60.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-0.6%	6,542	6,582	7,277	7,161	7,360
Current Assets	-3.8%	1,643	1,708	1,639	1,601	1,767
Cash Equivalents	-8.6%	155	169	150	126	132
Net PPE	0.8%	507	503	468	442	456
Goodwill	0.4%	1,568	1,561	1,631	1,618	1,650
Liabilities	-2.0%	2,751	2,808	2,983	2,823	2,873
Current Liabilities	-3.9%	1,128	1,174	1,141	1,020	1,043
LT Debt, Current	-21.0%	123	156	142	95.00	105
LT Debt, Non Current	-0.4%	568	571	569	512	523
Shareholder's Equity	1.0%	3,770	3,731	4,260	4,322	4,473
Retained Earnings	0.5%	7,200	7,163	7,157	7,132	7,207
Additional Paid-In Capital	-0.6%	388	390	395	393	391
Shares Outstanding	-0.7%	5.00	5.00	5.00	-	-
Minority Interest	5.8%	23.00	21.00	17.00	14.00	13.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-9.4%	214	236	209	229	223
Share Based Compensation	2.0%	6.00	6.00	6.00	6.00	6.00
Cashflow From Investing	-11.7%	-205	-184	-245	-202	-411
Cashflow From Financing	36.2%	-11.55	-18.11	71.00	1.00	-23.21
Buy Backs	19.5%	85.00	71.00	88.00	90.00	65.00

Risks for GHC

What is the probability of a big loss on GHC?

22.3%

Probability that Graham Holdings stock will be more than 20% underwater in next one year

20.4%

Probability that Graham Holdings stock will be more than 30% underwater in next one year.

18.5%

Probability that Graham Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does GHC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Graham Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for GHC

Cumulative Returns on GHC

8.4%

10-Year Cumulative Returns

2.6%

7-Year Cumulative Returns

-0.1%

5-Year Cumulative Returns

17.9%

3-Year Cumulative Returns

What are the long-term rolling returns for GHC?

FIve years rolling returns for Graham Holdings.

Annualized Returns

Which funds bought or sold GHC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	Toroso Investments, LLC	new	-	856,000	856,000	0.01%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-0.33	-206,208	11,860,800	-%
2023-05-19	AMI INVESTMENT MANAGEMENT INC	new	-	4,947,860	4,947,860	2.31%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-19.95	-810,000	3,033,000	-%
2023-05-18	JPMORGAN CHASE & CO	added	66.76	6,037,000	15,405,000	-%
2023-05-17	Advisory Services Network, LLC	unchanged	-	-586	41,709	-%
2023-05-17	Chevy Chase Trust Holdings, LLC	unchanged	-	-8,370	595,840	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-0.88	-14,000	604,000	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-10,000	-	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	new	-	1,541,440	1,541,440	-%

Latest Funds Activity

Are funds buying GHC calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own GHC

No. of Funds

Graham Holdings News

Schedule 13G FIlings of Graham Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	southeastern asset management inc/tn/	3.0%	115	SC 13G/A
Feb 10, 2023	dimensional fund advisors lp	7.7%	294,532	SC 13G/A
Feb 09, 2023	vanguard group inc	9.56%	366,892	SC 13G/A
Jan 26, 2023	blackrock inc.	12.1%	466,106	SC 13G/A
Jan 20, 2023	blackrock inc.	12.1%	466,106	SC 13G/A
Feb 14, 2022	southeastern asset management inc/tn/	7.5%	299	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	6.6%	263,111	SC 13G/A
Jan 27, 2022	blackrock inc.	11.7%	468,408	SC 13G/A
Jan 25, 2022	blackrock inc.	11.7%	468,408	SC 13G/A
Jul 12, 2021	blackrock inc.	11.7%	474,214	SC 13G/A

GHC Fair Value

Recent SEC filings of Graham Holdings

View All Filings

Date Filed	Form Type	Document
May 15, 2023	13F-HR	Fund Holdings Report
May 09, 2023	4	Insider Trading
May 05, 2023	8-K	Current Report
May 03, 2023	8-K	Current Report
May 03, 2023	10-Q	Quarterly Report
Apr 04, 2023	4	Insider Trading
Apr 04, 2023	4	Insider Trading
Apr 04, 2023	4	Insider Trading
Apr 04, 2023	4	Insider Trading
Apr 04, 2023	4	Insider Trading

Latest Insider Trading transactions for GHC

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-09	GAYNER THOMAS SINNICKSON	bought	58,163	581	100	-
2023-04-03	Allen Tony	acquired	8,897	593	15.00	-
2023-04-03	CONLEY DANIELLE Y.	acquired	21,947	593	37.00	-
2023-04-03	Davis Christopher C	acquired	27,285	593	46.00	-
2023-04-03	MULCAHY ANNE M	acquired	24,913	593	42.00	-
2023-04-03	WAGONER G RICHARD JR	acquired	24,913	593	42.00	-
2023-03-07	O'Shaughnessy Timothy J	acquired	426,860	426	1,000	president and ceo
2023-01-09	Snyman Marcel A.	sold	-79,063	617	-128	vp-chief accounting officer
2023-01-04	Snyman Marcel A.	sold	-43,996	611	-72.00	vp-chief accounting officer
2023-01-03	Cooney Wallace R.	acquired	-	-	616	chief financial officer

About Graham Holdings

Timothy J. O'Shaughnessy

www.ghco.com

18000

Graham Holdings Company, through its subsidiaries, operates as a diversified education and media company worldwide. It provides test preparation services and materials; data science and training services; professional training and exam preparation for professional certifications and licensures; and non-academic operations support services to the Purdue University Global. The company also offers training, test preparation, and degrees for accounting and financial services professionals; English-language training, academic preparation programs, and test preparation for English proficiency exams; and A-level examination preparation services, as well as operates three colleges, a business school, a higher education institution, and an online learning institution. In addition, it owns and operates seven television stations; and provides social media management tools to connect newsrooms with their users, as well as produces Foreign Policy magazine and ForeignPolicy.com website. Further, the company publishes Slate, an online magazine; and two French-language news magazine websites at slate.fr and slateafrique.com. Additionally, it provides social media marketing solutions; home health and hospice services; burners, igniters, dampers, and controls; screw jacks, linear actuators and related linear motion products, and lifting systems; pressure impregnated kiln-dried lumber and plywood products; cybersecurity training solutions; digital advertising services; and power charging and data systems, industrial and commercial indoor lighting solutions, and electrical components and assemblies. The company also owns and operates 11 restaurants and entertainment venues; and engages in automobile dealerships business. The company was formerly known as The Washington Post Company and changed its name to Graham Holdings Company in November 2013. Graham Holdings Company was founded in 1877 and is based in Arlington, Virginia.

GHC Income Statement

2023-03-31

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Revenues
Operating Revenues	$ 1,031,546	$ 914,721
Operating Costs and Expenses
Selling, general and administrative	241,962	224,862
Depreciation of property, plant and equipment	20,025	19,475
Amortization of intangible assets	13,944	14,912
Impairment of long-lived assets	745	0
Total Operating Costs and Expenses	1,003,890	874,750
Income from Operations	27,656	39,971
Equity in earnings of affiliates, net	4,661	2,604
Interest income	1,204	715
Interest expense	(14,294)	(11,417)
Non-operating pension and postretirement benefit income, net	31,845	50,505
Gain on marketable equity securities, net	18,022	46,912
Other income, net	3,083	2,876
Income Before Income Taxes	72,177	132,166
Provision for Income Taxes	19,200	35,600
Net Income	52,977	96,566
Net Income Attributable to Noncontrolling Interests	(705)	(942)
Net Income Attributable to Graham Holdings Company Common Stockholders	$ 52,272	$ 95,624
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic net income per common share (in USD per share)	$ 10.91	$ 19.50
Basic average number of common shares outstanding (in shares)	4,759	4,871
Diluted net income per common share (in USD per share)	$ 10.88	$ 19.45
Diluted average number of common shares outstanding (in shares)	4,776	4,885
Services [Member]
Operating Revenues
Operating Revenues	$ 586,863	$ 557,569
Operating Costs and Expenses
Cost of services and goods	356,942	324,981
Goods [Member]
Operating Revenues
Operating Revenues	444,683	357,152
Operating Costs and Expenses
Cost of services and goods	$ 370,272	$ 290,520

GHC Balance Sheet

2023-03-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 123,469	$ 169,319
Restricted cash	30,777	20,467
Investments in marketable equity securities and other investments	616,379	622,408
Accounts receivable, net	507,514	560,779
Inventories and contracts in progress	246,220	226,811
Prepaid expenses	112,982	97,450
Income taxes receivable	3,335	9,313
Other current assets	1,914	1,547
Total Current Assets	1,642,590	1,708,094
Property, Plant and Equipment, Net	506,995	503,000
Lease Right-of-Use Assets	424,938	429,403
Investments in Affiliates	194,960	186,419
Goodwill, Net	1,567,594	1,560,953
Indefinite-Lived Intangible Assets	180,038	178,934
Amortized Intangible Assets, Net	147,553	161,422
Prepaid Pension Cost	1,671,477	1,658,046
Deferred Income Taxes	6,870	6,812
Deferred Charges and Other Assets (includes $476 and $646 of restricted cash)	199,184	189,132
Total Assets	6,542,199	6,582,215
Current Liabilities
Accounts payable and accrued liabilities	536,959	563,005
Deferred revenue	373,173	381,416
Income taxes payable	15,026	3,766
Current portion of lease liabilities	72,210	70,007
Current portion of long-term debt	123,018	155,813
Dividends declared	7,902	0
Total Current Liabilities	1,128,288	1,174,007
Accrued Compensation and Related Benefits	134,541	134,921
Other Liabilities	37,373	37,506
Deferred Income Taxes	462,109	466,275
Mandatorily Redeemable Noncontrolling Interest	32,309	30,845
Lease Liabilities	387,866	393,626
Long-Term Debt	568,101	570,547
Total Liabilities	2,750,587	2,807,727
Commitments and Contingencies (Note 14)
Redeemable Noncontrolling Interests	21,882	21,827
Preferred Stock	0	0
Common Stockholders’ Equity
Common stock	20,000	20,000
Capital in excess of par value	388,173	390,438
Retained earnings	7,199,588	7,163,128
Accumulated other comprehensive income, net of taxes
Cumulative foreign currency translation adjustment	(45,644)	(54,638)
Unrealized gain on pensions and other postretirement plans	380,898	388,591
Cash flow hedges	1,482	2,198
Cost of Class B common stock held in treasury	(4,197,279)	(4,178,334)
Total Common Stockholders’ Equity	3,747,218	3,731,383
Noncontrolling Interests	22,512	21,278
Total Equity	3,769,730	3,752,661
Total Liabilities and Equity	$ 6,542,199	$ 6,582,215