GHC Graham Holdings margins

Relative Growth: Rel. Growth: 83

Relative Strength: Rel. Strength: 69

Relative Valuation: Rel. Valuation: 83

Relative Profitability: Rel. Profitability: 47

Gross margin

29.9%

Operating margin

5.1%

EBITDA margin

18.8%

Net margin

10.7%

For this period, Graham Holdings reports a gross margin of 29.9%, an operating margin of 5.1%, an EBITDA margin of 18.8%, and a net margin of 10.7%. All reported margins declined year over year, led by EBITDA margin with a decline of 8.7 percentage points.

GHC margin history

Gross, operating, EBITDA and net margin trends

Graham Holdings's margins averaged 30.14% gross, 3.93% operating, 20.33% EBITDA, and 8.94% 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

All available margins decreased year over year, led by EBITDA margin with a decline of 8.7 percentage points.

Gross margin expansion

-1.2pp

Operating margin expansion

-0.6pp

EBITDA margin expansion

-8.7pp

Net margin expansion

-3.4pp

GHC Gross margin

Looking back over the last 3 years, Graham Holdings recorded an average gross margin of 30.14%. Graham Holdings's current gross margin is 29.9% and is 0.2 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 3.93%. Graham Holdings's current operating margin is 5.1% and is 1.2 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 20.33% across the last 3 years. Against its three-year average, Graham Holdings's EBITDA margin is currently 18.8%, 1.5 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 8.94%. The current net margin stands at 10.7%, 1.8 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 29.9%, GHC ranks lower than the Consumer Defensive sector, the industry and its peers average. In comparison with the Consumer Defensive sector average of 36.6%, 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 Jun 30, 2026, GHC recorded a gross margin of 29.9%.

What is Graham Holdings's operating margin?

The current operating margin for GHC is 5.1% as of Jun 30, 2026.

What is Graham Holdings's EBITDA margin?

As of Jun 30, 2026, GHC has an EBITDA margin of 18.8%.

What is Graham Holdings's net margin?

The current net margin for GHC is 10.7% as of Jun 30, 2026.

What are the average margins of GHC?

Over the last 3 years, Graham Holdings's margins averaged 30.1% gross, 3.9% operating, 20.3% EBITDA, and 8.9% 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.