Graham Holdings Co. Class B (GHC)

Over the past six months, Graham Holdings Co. has experienced some fluctuations in its stock price. As of February 6, 2026, the stock price fell by -2.26% from $1,185.05 to $1,158.23, and saw a -1.19% loss over the preceding two weeks. A regular quarterly dividend of $1.88 per share was declared, payable on February 19, 2026. Q3 2025 earnings were released on October 29, 2025, with an actual EPS of $27.908. Q2 2025 earnings were released on July 30, 2025, with an actual EPS of $8.353, and the company reported increased revenue for the first six months of 2025. Year-to-date results through Q3 2025 showed adjusted operating cash flow increased by $3 million, driven by Kaplan, Healthcare, and Manufacturing segments. Graham Corporation acquired FlackTek on January 26, 2026, but this event pertains to Graham Corporation (GHM), not Graham Holdings Co. (GHC).

Demand seasonality for Graham Holdings Co.'s products and services varies across its diverse segments. The Television Broadcasting segment experiences outsized margins in election years due to increased political advertising spend. The Healthcare Services segment benefits from secular trends such as aging demographics and rising demand for lower-cost care sites. Kaplan's education services provide scale and recurring revenues, with demand for test preparation and professional certifications having seasonal peaks. Manufacturing operations aim to deliver steady free cash flow, though they can retain exposure to construction cycles and commodity price swings.

Graham Holdings Co. is a diversified American conglomerate holding company with a broad portfolio spanning several sectors, including educational services, home health and hospice care, television broadcasting, online and print media, automotive dealerships, manufacturing, hospitality, and consumer internet companies. Kaplan, Inc. is a global leader in educational services, providing higher education programs, test preparation, language instruction, professional training, and academic support services. Graham Media Group operates seven local television stations in major U.S. markets, providing local news, weather, community affairs, and syndicated entertainment. Graham Healthcare Group focuses on home health and hospice care services. Manufacturing Operations includes companies like Hoover Treated Wood Products, Dekko, Joyce/Dayton Corp., and Forney Corporation. The company owns seven automotive dealerships and has interests in online and print media entities such as Slate Magazine, Foreign Policy, and City Cast.

Graham Holdings Co. has a significant geographic presence. Kaplan, Inc. is a global provider with operations in nearly 30 countries and a strong footprint in the U.S., UK, and Asia. Graham Media Group's television stations are located in major and mid-size Designated Market Areas (DMAs) across the United States. The Graham Healthcare Group provides home health and hospice services primarily in the Midwest and Mid-Atlantic regions of the U.S. City Cast operates in U.S. cities such as Chicago, Denver, Houston, Salt Lake, Pittsburgh, Las Vegas, Boise, Washington, D.C., Philadelphia, Portland, and Madison.

In the past year, Residential Home Health and Hospice was named a "2025 Best Place to Work in PA" in December 2025. Kaplan was included on Newsweek's "America's Top Online Learning Providers 2026 List" and awarded the highest star rating in December 2025. A survey by Manhattan Prep/Kaplan indicated that over 8 in 10 business schools expect fierce competition in the admissions cycle. No significant negative events impacting Graham Holdings Co.'s overall brand reputation were found in the past year.

Approximately 52.28% of Graham Holdings Co.'s stock is owned by Institutional Investors, 2.41% by Insiders, and 45.31% by Public Companies and Individual Investors. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, Madison Avenue Partners, LP, Wallace Capital Management Inc., and State Street Corp. The descendants of the late Eugene Meyer collectively control the company through their ownership of the unlisted Class A common stock.