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McGraw Hill vs Webtoon Entertainment: MH and WBTN compared
McGraw Hill is the larger company: $632M of revenue in its latest quarter (Q2 FY27) against $338M for Webtoon Entertainment (Q2 2026). Webtoon Entertainment is growing faster (-3% against -6% a year earlier). McGraw Hill is more profitable, with an operating margin of 22.3% against -4.6%.
Where the money goes: MH and WBTN
McGraw Hill (MH) · Q2 FY27
McGraw Hill, Q2 FY27: revenue $632M (-6% year over year), operating margin 22.3%, net earnings $86.4M, operating cash flow $189M. The chart follows the revenue to costs, profit and cash.
Webtoon Entertainment (WBTN) · Q2 2026
Webtoon Entertainment, Q2 2026: revenue $338M (-3% year over year), operating margin -4.6%, net loss $14.6M, operating cash flow −$6.2M. The chart follows the revenue to costs, profit and cash.
| McGraw Hill (MH) | Webtoon Entertainment (WBTN) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q2 2026 |
| Revenue | $632M | $338M |
| Revenue growth, Y/Y | -6% | -3% |
| Gross margin | 79.2% | — |
| Operating margin | 22.3% | -4.6% |
| Net earnings | $86.4M | −$14.6M |
| Net margin | 13.7% | -4.3% |
| Operating cash flow | $189M | −$6.2M |
| Free cash flow | $164M | — |
| Market value | $2.1B | $1.3B |
| P/E | 28.2× | — |
| Analysts’ mean target | $17.50 | $11.29 |
Where the revenue comes from
McGraw Hill
- Digital: $361M (57%)
- Print: $271M (43%)
Webtoon Entertainment
- Paid Content: $264M (78%)
- Advertising: $47.1M (14%)
- IP Adaptations: $27.4M (8%)
Questions
Which is bigger, McGraw Hill or Webtoon Entertainment?
McGraw Hill is the larger company: $632M of revenue in its latest quarter (Q2 FY27) against $338M for Webtoon Entertainment (Q2 2026).
Is McGraw Hill or Webtoon Entertainment growing faster?
Webtoon Entertainment is growing faster (-3% against -6% a year earlier).
Which is more profitable, McGraw Hill or Webtoon Entertainment?
McGraw Hill is more profitable, with an operating margin of 22.3% against -4.6%.
More: McGraw Hill earnings · how McGraw Hill makes money · Webtoon Entertainment earnings · how Webtoon Entertainment makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.