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How Graham Holdings (GHC) makes money
Graham Holdings (GHC) made $1.3B of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Goods brought in $666M (50%); Services brought in $660M (50%). Of every dollar of revenue, 6¢ was left as operating profit, 6¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Goods | $666M | 50.2% | +4% | +15% |
| Services | $660M | 49.8% | -0.7% | -6% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.3B | 100.0% |
| Operating profit | $85.5M | 6.4% |
| Income tax | $21.9M | 1.7% |
| Net earnings | $75.1M | 5.7% |
| Operating cash flow | $160M | 12.1% |
| Free cash flow | $135M | 10.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.3B | +4% |
| Q2 2026 | $1.3B | +7% |
| Q4 2025 | $1.3B | +0.4% |
| Q3 2025 | $1.3B | +6% |
| Q2 2025 | $1.2B | +3% |
| Q1 2025 | $1.2B | +1% |
| Q4 2024 | $1.2B | +7% |
From Graham Holdings' 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Graham Holdings make money?
Graham Holdings (GHC) made $1.3B of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Goods brought in $666M (50%); Services brought in $660M (50%). Of every dollar of revenue, 6¢ was left as operating profit, 6¢ was left as net earnings.
What is Graham Holdings' biggest business?
Goods: $666M in the third quarter 2026, 50% of revenue, +15% from a year earlier.
What is Graham Holdings' profit margin?
Net earnings were $75.1M, 5.7% of revenue, in the third quarter 2026; the operating margin was 6.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.