Filing Flows › McGraw Hill (MH) › Q4 FY26
McGraw Hill (MH) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Jun 11, 2026
McGraw Hill (MH) reported revenue of $464M for the fourth quarter fiscal 2026 (Q4 FY26), -2% from a year earlier and +7% from the quarter before. Operating margin was -1.4%, net loss $50.3M (10.8% of revenue).
McGraw Hill, Q4 FY26: revenue $464M (-2% year over year), operating margin -1.4%, net loss $50.3M, operating cash flow −$146M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $464M | +7% | -2% |
| Operating profit | −$6.4M | -121% | — |
| Net earnings | −$50.3M | — | — |
| Operating cash flow | −$146M | -147% | — |
What changed
Revenue was $463.7M in Q4 FY26, down 2% year over year and up 7% from the previous quarter. Re-occurring Revenue was the largest line at 81% of revenue.
Gross margin was 83.9%, up 0.4 points from a year earlier. Operating costs exceeded revenue by $6.4M, an operating margin of -1.4%. Operating expenses grew 8% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+44%). The quarter ended with a net loss of $50.3M, wider than the previous quarter's $20.2M loss. Net interest and other expense of $46.4M was the main reason.
Operating cash flow was −$146.1M. Non-cash charges added back $85.6M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $183.4M. Capital expenditures of $23.8M exceeded it, leaving free cash flow of −$169.9M.
Questions
What was McGraw Hill's revenue in the fourth quarter fiscal 2026?
McGraw Hill (MH) reported revenue of $464M for the fourth quarter fiscal 2026 (Q4 FY26), -2% from a year earlier and +7% from the quarter before.
Was McGraw Hill profitable in the fourth quarter fiscal 2026?
Operating loss was $6.4M (-1.4% of revenue) and net loss $50.3M.
Source: McGraw Hill 10-K on SEC EDGAR.