Filing Flows › Graham Holdings (GHC) › Q4 2024
Graham Holdings (GHC) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 26, 2025
Graham Holdings (GHC) reported revenue of $1.2B for the fourth quarter 2024 (Q4 2024), +7% from a year earlier and +3% from the quarter before. Operating margin was 5.8%, net earnings $549M (44.1% of revenue).
Graham Holdings, Q4 2024: revenue $1.2B (+7% year over year), operating margin 5.8%, net earnings $549M, operating cash flow $116M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +3% | +7% |
| Operating profit | $72.5M | -11% | +78% |
| Net earnings | $549M | +657% | +930% |
| Operating cash flow | $116M | -51% | +103% |
| Free cash flow | $91.1M | -58% | +263% |
What changed
Revenue was $1.2B in Q4 2024, up 7% year over year and up 3% from the previous quarter. Services was the largest line at 56% of revenue.
Operating profit was $0.07B, a 5.8% margin (up 2.3 points year over year). Of the extra revenue versus a year earlier, 40% reached operating profit, above the 3% margin then. Total costs grew 4% against revenue growth of 7%. Net earnings were $0.55B, up 930% year over year. The effective tax rate was 27.2%. Non-operating items added $0.69B, 90% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.12B (up 103% year over year), 21% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $0.47B. Capital expenditures of $0.03B left free cash flow of $0.09B.
Questions
What was Graham Holdings' revenue in the fourth quarter 2024?
Graham Holdings (GHC) reported revenue of $1.2B for the fourth quarter 2024 (Q4 2024), +7% from a year earlier and +3% from the quarter before.
Was Graham Holdings profitable in the fourth quarter 2024?
Operating profit was $72.5M (5.8% of revenue) and net earnings $549M.
Source: Graham Holdings 10-K on SEC EDGAR.