GHC Graham Holdings margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 44

Gross margin

30%

Operating margin

5.4%

EBITDA margin

16.8%

Net margin

9.7%

For this period, Graham Holdings reports a gross margin of 30%, an operating margin of 5.4%, an EBITDA margin of 16.8%, and a net margin of 9.7%. The strongest positive change was in operating margin, higher by 0.1 percentage points. The strongest negative change was in EBITDA margin, lower by 11.5 percentage points.

GHC margin history

Gross, operating, EBITDA and net margin trends

Graham Holdings's margins averaged 30.13% gross, 4.05% operating, 20.03% EBITDA, and 9% net during the last 3 years. At present, operating and net margins are above their three-year averages, while gross and EBITDA margins are below their three-year averages.

GHC margin expansion

Year-over-year margin changes in percentage points

Compared with last year, operating margin expanded by 0.1 percentage points, while gross margin contracted by 0.5 percentage points, EBITDA margin by 11.5 percentage points, and net margin by 5.2 percentage points.

Gross margin expansion

-0.5pp

Operating margin expansion

0.1pp

EBITDA margin expansion

-11.5pp

Net margin expansion

-5.2pp

GHC Gross margin

Looking back over the last 3 years, Graham Holdings recorded an average gross margin of 30.13%. Graham Holdings's current gross margin is 30% and is 0.1 percentage points below its three-year average. The highest gross margin for Graham Holdings was 31.1% in Jun 2025, while the lowest was 29.4% in Jun 2024.

GHC Operating margin

Looking back over the last 3 years, Graham Holdings recorded an average operating margin of 4.05%. Graham Holdings's current operating margin is 5.4% and is 1.4 percentage points above its three-year average. The highest operating margin for Graham Holdings was 5.7% in Jun 2025, while the lowest was 1% in Jun 2024.

GHC EBITDA margin

Graham Holdings recorded an average EBITDA margin of 20.03% across the last 3 years. Against its three-year average, Graham Holdings's EBITDA margin is currently 16.8%, 3.2 percentage points below its three-year average. The EBITDA margin for Graham Holdings moved between 14% in Mar 2026 and 30.1% in Dec 2024.

GHC Net margin

Across the last 3 years, Graham Holdings's net margin averaged 9%. The current net margin stands at 9.7%, 0.7 percentage points above its three-year average. Net margin was highest at 15.1% in Dec 2024 and lowest at 2.9% in Jun 2024.

GHC margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 30%, GHC ranks lower than the Consumer Defensive sector, the industry and its peers average. In comparison with the Consumer Defensive sector average of 36.4%, Graham Holdings's gross margin is 18% lower.

GHC margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Graham Holdings's gross margin?

For the period ending Sep 30, 2026, GHC recorded a gross margin of 30%.

What is Graham Holdings's operating margin?

The current operating margin for GHC is 5.4% as of Sep 30, 2026.

What is Graham Holdings's EBITDA margin?

As of Sep 30, 2026, GHC has an EBITDA margin of 16.8%.

What is Graham Holdings's net margin?

The current net margin for GHC is 9.7% as of Sep 30, 2026.

What are the average margins of GHC?

Over the last 3 years, Graham Holdings's margins averaged 30.1% gross, 4.1% operating, 20.0% EBITDA, and 9.0% net.

What are the highest historical margins of GHC?

Across the 5-year period, GHC posted its highest margins at 33.6% gross in Dec 2021, 5.7% operating in Jun 2025, 30.1% EBITDA in Dec 2024, and 15.1% net in Dec 2024.

What are the lowest historical margins of GHC?

Looking back across 5 years, GHC reached its lowest margins at 29.4% gross in Jun 2024, -0.6% operating in Sep 2023, 11% EBITDA in Mar 2023, and 0.6% net in Mar 2023.