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How McGraw Hill (MH) makes money
McGraw Hill (MH) made $632M of revenue in the second quarter fiscal 2027 (Q2 FY27), -6% from a year earlier. Digital brought in $361M (57%); Print brought in $271M (43%). Of every dollar of revenue, 79¢ was left as gross profit, 22¢ was left as operating profit, 14¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 FY27
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Digital | $361M | 57.2% | +2% | +3% |
| $271M | 42.8% | +38% | -15% |
Where each dollar of revenue goes
| Line | Q2 FY27 | % of revenue |
|---|---|---|
| Revenue | $632M | 100.0% |
| Cost of revenue | $132M | 20.8% |
| Gross profit | $500M | 79.2% |
| Operating expenses | $359M | 56.8% |
| Operating profit | $141M | 22.3% |
| Income tax | $6.6M | 1.0% |
| Net earnings | $86.4M | 13.7% |
| Operating cash flow | $189M | 30.0% |
| Free cash flow | $164M | 26.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 FY27 | $632M | -6% |
| Q1 FY27 | $550M | +3% |
| Q4 FY26 | $464M | -2% |
| Q3 FY26 | $434M | +4% |
| Q2 FY26 | $669M | -3% |
| Q1 FY26 | $536M | +2% |
From McGraw Hill's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does McGraw Hill make money?
McGraw Hill (MH) made $632M of revenue in the second quarter fiscal 2027 (Q2 FY27), -6% from a year earlier. Digital brought in $361M (57%); Print brought in $271M (43%). Of every dollar of revenue, 79¢ was left as gross profit, 22¢ was left as operating profit, 14¢ was left as net earnings.
What is McGraw Hill's biggest business?
Digital: $361M in the second quarter fiscal 2027, 57% of revenue, +3% from a year earlier.
What is McGraw Hill's profit margin?
Net earnings were $86.4M, 13.7% of revenue, in the second quarter fiscal 2027; the operating margin was 22.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.