Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.48B | $2.59B | $2.70B | $2.93B | $2.89B | $3.19B | $3.92B | $4.41B | $4.79B | $4.91B |
| Revenue growth | — | 4.4% | 4.0% | 8.8% | -1.5% | 10.3% | 23.2% | 12.5% | 8.5% | 2.5% |
| Operating income | $223M | $136M | $246M | $145M | $100M | $77.4M | $83.9M | $69.4M | $216M | $235M |
| Operating margin | 9.0% | 5.3% | 9.1% | 4.9% | 3.5% | 2.4% | 2.1% | 1.6% | 4.5% | 4.8% |
| Net income | $169M | $302M | $271M | $328M | $300M | $352M | $67.1M | $205M | $725M | $292M |
| Net margin | 6.8% | 11.7% | 10.1% | 11.2% | 10.4% | 11.1% | 1.7% | 4.6% | 15.1% | 6.0% |
| EPS (diluted) | $29.80 | $53.89 | $50.20 | $61.21 | $58.13 | $70.45 | $13.79 | $43.82 | $163.40 | $66.47 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $261M | $268M | $287M | $165M | $211M | $202M | $236M | $260M | $407M | $347M |
| Capital expenditures | $66.6M | $60.4M | $98.2M | $93.5M | $69.6M | $163M | $82.7M | $93.4M | $82.9M | $71.9M |
| Free cash flow | $195M | $208M | $189M | $71.7M | $141M | $39.9M | $153M | $166M | $324M | $275M |
| Share buybacks | $109M | $50.8M | $118M | $2.10M | $162M | $55.7M | $71.4M | $193M | $114M | $3.47M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $649M | $390M | $253M | $200M | $414M | $146M | $169M | $170M | $261M | $267M |
| Total assets | $4.43B | $4.94B | $4.76B | $5.93B | $6.44B | $7.43B | $6.55B | $7.19B | $7.68B | $8.40B |
| Total liabilities | $1.98B | $2.02B | $1.84B | $2.60B | $2.67B | $3.00B | $2.78B | $3.16B | $3.35B | $3.53B |
| Long-term debt | $486M | $487M | $471M | $431M | $506M | $526M | $571M | $745M | $722M | $706M |
| Shareholders' equity | $2.45B | $2.92B | $2.92B | $3.32B | $3.76B | $4.40B | $3.73B | $3.98B | $4.26B | $4.79B |
| Retained earnings | $5.59B | $5.79B | $6.24B | $6.53B | $6.80B | $7.13B | $7.16B | $7.34B | $8.03B | $8.29B |
| Shares (wtd avg diluted) | 5.59M | 5.55M | 5.37M | 5.33M | 5.14M | 4.96M | 4.84M | 4.65M | 4.41M | 4.37M |
Every figure is extracted from Graham Holdings Co’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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