Every 10-Q that Graham Holdings (GHC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GHC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GHC filings page.
Graham Holdings Company reported sharply higher profitability for the quarter ended June 30, 2026. Operating revenues were $1.30 billion, up from $1.22 billion, and income from operations rose to $83.6 million from $72.8 million. Net income attributable to common stockholders jumped to $281.1 million, with diluted EPS of $64.86 versus $8.35 a year earlier.
Non‑operating items were pivotal: non‑operating pension and postretirement income was $169.6 million, including a $137.0 million pension settlement gain, and gains on marketable equity securities were $101.9 million. Offsetting factors included $19.0 million of Kaplan Languages Group (KLG)‑related impairments, a $5.2 million loss on that sale and a $19.2 million Pillar Two top‑up tax accrual. For the first six months, operating cash flow was $120.4 million; the company returned cash through share repurchases and dividends and ended June with $156.8 million in cash and $900.4 million of total debt on $8.14 billion of assets.
Graham Holdings Company reported first-quarter 2026 net income attributable to common stockholders of $29.1 million, up from $23.9 million a year earlier, with diluted EPS rising to $6.62 from $5.45.
Revenue increased 6% to $1.236 billion, driven by growth in education, television broadcasting, healthcare and manufacturing, partly offset by lower automotive and other businesses revenue. Operating income improved to $57.8 million from $47.5 million, despite a $19.0 million impairment related to Kaplan Languages Group and $4.1 million of separation program costs.
Results also reflected a $68.9 million net loss on marketable equity securities, $31.0 million in net earnings of affiliates, and modest interest income from adjusting a mandatorily redeemable noncontrolling interest. Cash flow from operations strengthened to $67.7 million, while total debt stood at $822.0 million.
Graham Holdings Company (GHC) reported Q3 results. Operating revenues were $1,278.9 million, up from $1,207.2 million a year ago. Net income rose to $126.2 million from $74.5 million, and diluted EPS increased to $27.91 from $16.42. Income before income taxes increased to $183.0 million from $113.0 million.
Quarter performance reflected higher net unrealized gains on marketable equity securities ($84.8 million) and stronger equity in earnings of affiliates ($15.8 million), partly offset by lower operating income ($67.1 million vs. $81.6 million) and depreciation/amortization expense. Net interest expense decreased year over year.
For the nine months, operating revenues reached $3,660.5 million with net income of $192.4 million. Cash from operations was $318.9 million. Cash and cash equivalents were $190.8 million; total debt was $731.9 million, with $424.9 million current and $307.0 million long-term. Investments in marketable equity securities had a fair value of $998.8 million, including Berkshire Hathaway valued at $560.6 million.
2025 actions included acquisitions in education and manufacturing ($19.9 million cash and $107.4 million assumed pension obligations) and a settlement of a mandatorily redeemable noncontrolling interest; the Company also closed the Ourisman Jeep of Bethesda dealership. In October 2025, the automotive subsidiary acquired a Honda dealership.
Graham Holdings (GHC) Q2 2025 10-Q highlights. Revenue rose 2.6% YoY to $1.22 bn (services $668.6 m, goods $547.1 m). Operating costs were flat, lifting operating income 181% to $72.8 m and expanding margin to 6.0%. Net income attributable to shareholders swung to a $36.7 m profit (diluted EPS $8.35) from a $21.0 m loss in Q2 2024. Interest expense fell to $18.1 m from $91.4 m as accretion on the mandatorily redeemable non-controlling interest (NCI) abated.
For the first six months, revenue edged up 1.9% to $2.38 bn but net income dropped 41% to $60.6 m (EPS $13.81) because 2024 benefited from a $123.8 m gain on marketable securities versus a $32.3 m gain in 2025 and a $66.2 m settlement-related interest charge. Operating cash flow improved sharply to $140.8 m (vs $53.1 m).
Liquidity tightened: cash and equivalents declined 32% since December to $176.2 m, while current debt jumped to $502.1 m as the $399 m 5.75% notes move inside one year. Total debt stands at $816.4 m. The February $205 m cash/stock settlement cut the mandatorily redeemable NCI to $21.5 m, removing a large future obligation. Book value climbed to $4.35 bn. Management remains in covenant compliance.