Graham Holdings Company Financial Ratios — GHC Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	4.29	5.06	8.02	40.15	-3.6	6.82	11.25	9.3	10.51	8.49	8.63	1.65	5.33	17.6	6.46
Return on Assets (%)	2.3	2.61	4.34	22.38	-1.99	3.84	6.45	5.59	6.13	4.85	5.08	0.96	2.99	9.75	3.64
Return on Capital (%)	4.28	4.54	7.33	35.87	- -	6.57	- -	8.89	8.98	7.14	7.27	1.81	4.76	15.77	6.18
Return on Invested Capital (%)	6.23	1.91	2.61	4.42	- -	5.21	- -	6.08	2.84	1.6	1.17	0.92	0.96	2.87	2.72
Gross Margin (%)	44.04	54.48	53.44	53.9	53.36	48.83	43.89	41.15	33.55	33.82	33.63	32.28	29.72	30.61	29.93
EBITDA Margin (%)	17.6	13.05	15.93	17.62	13.44	12.72	9.63	13.29	11.95	12.17	9.84	10.51	6.19	8.41	8.29
Operating Margin (%)	9.48	7.72	5.87	9.13	6.92	9.04	5.63	9.43	5.24	4.52	3.46	5.42	3.82	5.54	5.03
Incremental Operating Margin (%)	25.34	48.18	13.93	71.35	47.14	- -	- -	103.97	- -	53.8	- -	13.89	- -	25.76	- -
Pretax Margin (%)	7.25	3.7	4.05	39.37	-4.67	10.1	7.05	12	14.55	14.1	14.11	3.1	6.77	21.39	9.16
Profit Margin (%)	3.32	3.92	9.11	47.27	-3.89	6.79	11.65	10.06	11.18	10.4	11.05	1.71	4.65	15.13	5.95
Net Income to Common Margin (%)	3.3	3.89	9.08	47.24	-3.92	6.79	11.65	10.06	11.18	10.4	11.05	1.71	4.65	15.13	5.95
Effective Tax Rate (%)	40.82	58.87	38.49	28.98	- -	32.39	- -	16.1	23.12	26.35	21.42	42.14	29.2	28.51	32.56
Dvd Payout Ratio (%)	49.56	290.13	0.01	8.8	-37.76	16.04	9.35	10.54	9.01	10	8.5	41.62	14.19	4.1	9.98
Sustainable Growth Rate (%)	2.16	-9.62	8.02	36.62	-4.96	5.73	10.2	8.32	9.57	7.64	7.9	0.96	4.57	16.88	5.81

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	565	697	451	446	400	492	493	477	1,083	1,028	1,150	1,190	1,253	1,169	1,323
ST Debt	113	243	3	46	- -	6	7	6	175	93	219	226	131	85	239
LT Debt	452	453	448	400	400	486	487	471	908	935	931	964	1,122	1,085	1,084
Total Debt/EBITDA	0.91	1.58	1.09	0.92	1.15	1.56	1.98	1.33	3.09	2.92	3.67	2.88	4.58	2.9	3.25
Net Debt/EBITDA	0.3	0.42	-0.29	-0.68	-1.02	-0.5	0.41	0.62	0.89	0.28	1.66	1.35	2.35	1.21	1.51
Total Debt/EBIT	1.69	4.69	3.02	1.92	-4.95	2.21	3.62	1.94	7.49	10.24	14.87	14.18	18.05	5.43	5.63
Net Debt/EBIT	0.55	1.24	-0.8	-1.4	4.38	-0.7	0.76	0.91	2.16	0.98	6.74	6.64	9.25	2.26	2.61
EBITDA to Interest Expense	18.67	12.24	11.53	13.57	10.65	8.92	7.37	9.46	11.77	9.18	9.23	7.58	4.32	2.16	3.43
EBITDA-CapEx/Interest Expense	12.16	5.99	5.78	6.89	6.45	7.04	5.59	6.87	8.63	7.36	4.44	6.06	2.84	1.72	2.82
EBIT to Interest Expense	10.06	7.24	4.25	7.04	5.48	6.34	4.31	6.71	5.16	3.41	3.25	3.91	2.66	1.43	2.08
Interest Expense	33	36	36	36	33	35	34	38	30	38	34	54	63	186	119
Common Equity/Total Assets	51.86	50.66	56.79	54.59	57.22	55.34	59.04	61.22	55.96	58.34	59.25	56.94	55.31	55.45	57.1
Long-Term Debt/Equity (%)	17.31	17.46	13.52	12.68	16.05	19.8	16.66	16.12	27.24	24.75	21.03	25.54	27.86	25.04	22.26
Long-Term Debt/Capital (%)	14.23	13.76	11.9	11.11	13.83	16.49	14.26	13.85	20.56	19.45	16.69	19.42	21.25	19.72	17.5
Long-Term Debt/Total Assets (%)	9.01	8.88	7.7	6.95	9.18	10.96	9.85	9.88	15.3	14.51	12.54	14.71	15.61	14.13	12.91
Total Debt/Equity (%)	21.63	26.82	13.61	14.15	16.05	20.05	16.89	16.33	32.49	27.21	25.99	31.53	31.12	27	27.18
Total Debt/Capital (%)	17.78	21.15	11.98	12.4	13.83	16.7	14.45	14.04	24.52	21.39	20.63	23.97	23.73	21.26	21.37
Total Debt/Total Assets (%)	11.27	13.65	7.76	7.75	9.18	11.1	9.99	10.02	18.25	15.96	15.49	18.16	17.43	15.23	15.76
Net Debt to Equity	7.05	7.1	-3.59	-10.37	-14.23	-6.4	3.54	7.66	9.38	2.61	11.79	14.76	15.94	11.25	12.61
Net Debt/Capital (%)	6.58	6.62	-3.73	-11.57	-16.59	-6.84	3.42	7.12	7.42	2.24	9.61	11.62	12.57	9.3	10.36
EBITDA	620	440	414	482	348	316	250	358	350	352	313	413	273	403	407
EBITDA-CapEx	404	215	208	245	211	249	189	260	257	282	151	330	180	320	335
Operating Income (Loss)	334	260	153	250	179	224	146	254	154	131	110	213	168	265	247

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.72	0.83	1.17	0.95	1.56	1.34	1.08	0.95	0.77	1.05	0.83	0.69	0.71	0.93	0.98
Current Ratio	1.25	1.29	1.82	1.61	2.57	2.29	1.98	1.89	1.6	1.87	1.58	1.47	1.5	1.75	1.75
Quick Ratio	1.13	1.18	1.65	1.49	2.42	2.14	1.81	1.69	1.38	1.65	1.38	1.16	1.14	1.37	1.4
CFO/Avg Current Liab	0.39	0.46	0.3	0.32	0.08	0.34	0.32	0.34	0.18	0.21	0.19	0.2	0.22	0.34	0.27
Common Equity/Total Assets	51.86	50.66	56.79	54.59	57.22	55.34	59.04	61.22	55.96	58.34	59.25	56.94	55.31	55.45	57.1
Long-Term Debt/Equity (%)	17.31	17.46	13.52	12.68	16.05	19.8	16.66	16.12	27.24	24.75	21.03	25.54	27.86	25.04	22.26
Long-Term Debt/Capital (%)	14.23	13.76	11.9	11.11	13.83	16.49	14.26	13.85	20.56	19.45	16.69	19.42	21.25	19.72	17.5
Long-Term Debt/Total Assets (%)	9.01	8.88	7.7	6.95	9.18	10.96	9.85	9.88	15.3	14.51	12.54	14.71	15.61	14.13	12.91
Total Debt/Equity (%)	21.63	26.82	13.61	14.15	16.05	20.05	16.89	16.33	32.49	27.21	25.99	31.53	31.12	27	27.18
Total Debt/Capital (%)	17.78	21.15	11.98	12.4	13.83	16.7	14.45	14.04	24.52	21.39	20.63	23.97	23.73	21.26	21.37
Total Debt/Total Assets (%)	11.27	13.65	7.76	7.75	9.18	11.1	9.99	10.02	18.25	15.96	15.49	18.16	17.43	15.23	15.76
CFO/Total Liabilities	16.36	19.3	12.41	12.05	3.79	13.2	13.28	15.57	6.36	7.9	6.75	8.48	8.22	12.16	9.84
CFO/CapEx	1.82	2.15	1.5	1.32	0.52	3.92	4.44	2.92	1.77	3.03	1.25	2.85	2.78	4.91	4.83
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	9.13	8.93	6.61	5.79	4.74	4.33	4.35	4.74	- -	- -	- -	7.17	8.82	9.84	9.85
Days Sales Outstanding	39.99	40.85	55.2	63.06	77.08	84.24	83.94	77.05	- -	- -	- -	50.89	41.38	37.1	37.04
Inventory Turnover	341.53	210.94	221.99	177.3	55.61	37.98	30.48	24.39	20.47	15.84	16.14	14.43	11.84	11.21	11.49
Days Inventory Outstanding	1.07	1.73	1.64	2.06	6.56	9.61	11.98	14.96	17.83	23.05	22.62	25.29	30.82	32.55	31.77
Accounts Payable Turnover	5.17	4.78	3.69	3.93	4.17	3.99	4.01	4.41	5.68	8.08	18.31	20.85	21.83	21.11	20.21
Accounts Payable Turnover Days	70.55	76.43	98.97	92.93	87.53	91.43	91.03	82.71	64.26	45.17	19.93	17.51	16.72	17.29	18.06
Cash Conversion Cycle	-29.49	-33.85	-42.13	-27.81	-3.88	2.42	4.88	9.31	- -	- -	- -	58.67	55.48	52.36	50.75
Inventory to Cash Days	38.92	39.12	53.56	61	70.52	74.63	71.96	62.09	- -	- -	- -	25.6	10.56	4.55	5.27
Inventories	7	8	3	11	32	35	61	69	121	121	141	227	297	296	303
Raw Materials	- -	- -	- -	- -	- -	21	30	37	35	45	55	68	64	46	78
Work In Process	- -	- -	- -	- -	- -	6	11	14	15	11	14	18	18	15	16
Finished Goods	- -	- -	- -	- -	- -	8	19	18	71	64	73	141	215	234	209
Other Inventory	7	8	3	11	32	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	381	512	570	773	754	649	390	253	200	414	146	169	170	261	267
+ Preferred Equity and Hybrid Capital	11	11	11	11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	5	4	13	19	26	43	50	74	73
+ Total Debt	565	697	451	446	400	492	493	477	1,083	1,028	1,150	1,190	1,253	1,169	1,323
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Capital	3,178	3,294	3,762	3,597	2,890	2,945	3,413	3,398	4,415	4,807	5,576	4,964	5,279	5,500	6,190
Total Debt/Capital (%)	17.78	21.15	11.98	12.4	13.83	16.7	14.45	14.04	24.52	21.39	20.63	23.97	23.73	21.26	21.37
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	3,526	3,373	2,601	2,737	2,586	2,482	2,592	2,696	2,932	2,889	3,186	3,924	4,415	4,791	4,912
TTM EBITDA	620	440	414	482	348	316	250	358	350	352	313	413	273	403	407
TTM Operating Income	334	260	153	250	179	224	146	254	154	131	110	213	168	265	247
TTM Cash Flow to Firm	413	499	332	339	- -	285	- -	319	188	239	229	267	305	540	427
TTM Free Cash Flow to Firm	197	274	126	101	- -	219	- -	221	95	169	67	184	211	457	355

Multiples (USD)

Valuation Multiples API ChatGPT

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Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	8	7	7	6	6	6	6	5	5	5	5	5	4	4	4
Diluted Weighted Avg Shares	8	7	7	7	6	6	6	5	5	5	5	5	5	4	4
Basic Weighted Avg Shares	8	7	7	6	6	6	6	5	5	5	5	5	5	4	4
Revenue per Share	450.55	458.23	359.3	423.03	451.57	446.46	469.88	505.53	554.8	563.84	643.5	813.7	951.69	1,095.82	1,134.05
EBITDA per Share	79.28	59.79	57.24	74.53	60.7	56.8	45.27	67.21	66.3	68.61	63.29	85.55	58.9	92.16	94
Operating Income per Share	42.69	35.35	21.09	38.64	31.23	40.38	26.47	47.68	29.08	25.48	22.28	44.14	36.31	60.69	57.1
Basic EPS, GAAP	14.85	17.83	32.61	199.84	-17.69	30.33	54.76	50.85	62.04	58.62	71.11	13.91	44.25	165.74	67.49
Basic EPS from Cont Ops	19.34	6.97	8.94	118.3	-24.69	30.48	54.84	50.89	62.04	58.54	71.36	14.6	45.64	167.57	70.02
Diluted EPS, GAAP	14.7	17.72	32.18	197.13	-17.69	30.16	54.4	50.5	61.55	58.45	70.91	13.87	44.11	164.5	66.84
Diluted EPS from Cont Ops	19.15	6.93	8.83	116.7	-24.69	30.32	54.48	50.54	61.55	58.37	71.16	14.56	45.49	166.31	69.35
Dividend per Share	9.65	20.02	0.12	10.53	9.38	4.92	5.14	5.37	5.59	5.85	6.09	6.37	6.67	6.94	7.24
Cash Flow per Share	50.25	65.75	42.86	48.45	12.34	47	48.6	53.82	31.25	41.11	40.89	48.85	56.02	93.09	80.16
Free Cash Flow per Basic Share	22.61	35.22	14.34	11.78	-11.56	35.01	37.65	35.41	13.56	27.53	8.06	31.71	35.88	74.13	63.57
Cash & Equivalents per Share	94.82	125.39	147.83	172.36	195.33	196.74	172.07	144.85	150.62	201	197.78	165.4	193.56	258.43	310.93
Book Value per Share	342.76	348.17	446.73	541.54	429.15	439.88	529.59	550.24	624.83	754.45	896.76	779.55	887.68	982.54	1,099.31
Tangible Book Value per Share	79.26	91.93	193.66	203.13	231.59	207.3	231.68	237.08	293.15	391.24	481.18	382.33	480.15	585.28	682.4