Graham Holdings (GHC) Gross Margin (2019 - 2026)
Quarterly results put Gross Margin at 68.04% for Q1 2026, up 520.0% from a year ago — trailing twelve months through Mar 2026 was 64.3% (down 456.0% YoY), and the annual figure for FY2025 was 61.9%, down 556.0%.
Graham Holdings has reported Gross Margin over the past 8 years, most recently at 68.04% for Q1 2026.
- Gross Margin reached 68.04% in Q1 2026 per GHC's latest filing, up from 59.36% in the prior quarter.
- Across five years, Gross Margin topped out at 79.79% in Q4 2024 and bottomed at 29.18% in Q4 2023.
- Median Gross Margin over the past 5 years was 63.31% (2023), compared with a mean of 56.03%.
- The largest annual shift saw Gross Margin crashed -7136bps in 2022 before it soared 5061bps in 2024.
- Over 5 years, Gross Margin stood at 32.74% in 2022, then dropped by -11bps to 29.18% in 2023, then soared by 173bps to 79.79% in 2024, then fell by -26bps to 59.36% in 2025, then increased by 15bps to 68.04% in 2026.
- Business Quant data shows Gross Margin for GHC at 68.04% in Q1 2026, 59.36% in Q4 2025, and 66.76% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | 51Talk Online Education | 9.59 Bn | 9.55 Bn | 22.18 Mn | 72.43% |
| 2 | Graham Holdings | 4.73 Bn | 3.72 Bn | 841.00 Mn | 68.04% |
| 3 | Laureate Education | 4.69 Bn | 4.53 Bn | -16.39 Mn | -6.01% |
| 4 | Grand Canyon Education | 4.19 Bn | 3.94 Bn | 244.77 Mn | 79.28% |
| 5 | Stride | 3.77 Bn | 2.96 Bn | 231.57 Mn | 36.76% |
| 6 | Perdoceo Education | 2.11 Bn | 1.43 Bn | 174.68 Mn | 78.77% |
| 7 | Universal Technical Institute | 2.01 Bn | 1.84 Bn | 103.97 Mn | 46.96% |
| 8 | Strategic Education | 1.71 Bn | 1.55 Bn | - | - |
| 9 | Lincoln Educational Services | 1.46 Bn | 1.44 Bn | 120.06 Mn | 83.40% |
| 10 | American Public Education | 943.17 Mn | 722.17 Mn | 100.11 Mn | 57.29% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 68.04% |
| Dec 31, 2025 | 59.36% |
| Sep 30, 2025 | 66.76% |
| Jun 30, 2025 | 62.98% |
| Mar 31, 2025 | 62.84% |
| Dec 31, 2024 | 79.79% |
| Sep 30, 2024 | 64.62% |
| Jun 30, 2024 | 67.58% |
| Mar 31, 2024 | 66.36% |
| Dec 31, 2023 | 29.18% |
| Sep 30, 2023 | 63.31% |
| Jun 30, 2023 | 67.15% |
| Mar 31, 2023 | 65.40% |
| Dec 31, 2022 | 32.74% |
| Sep 30, 2022 | 31.38% |
| Jun 30, 2022 | 32.30% |
| Mar 31, 2022 | 32.71% |
| Dec 31, 2021 | 104.10% |
| Sep 30, 2021 | 70.16% |
| Jun 30, 2021 | 61.68% |
| Mar 31, 2021 | 74.91% |
| Dec 31, 2020 | 75.65% |
| Sep 30, 2020 | 58.40% |
| Jun 30, 2020 | 54.27% |
| Mar 31, 2020 | 54.52% |
| Dec 31, 2019 | 76.80% |
| Sep 30, 2019 | 53.24% |
| Jun 30, 2019 | 79.24% |
| Mar 31, 2019 | 53.99% |