Graham Holdings (GHC) Operating Margin (2016 - 2026)
Quarterly results put Operating Margin at 4.68% for Q1 2026, up 61.0% from a year ago — trailing twelve months through Mar 2026 was 4.92% (up 19.0% YoY), and the annual figure for FY2025 was 4.78%, up 29.0%.
Graham Holdings has reported Operating Margin over the past 18 years, most recently at 4.68% for Q1 2026.
- Operating Margin reached 4.68% in Q1 2026 per GHC's latest filing, up from 3.8% in the prior quarter.
- Across five years, Operating Margin topped out at 6.76% in Q3 2024 and bottomed at 5.16% in Q4 2022.
- Median Operating Margin over the past 5 years was 4.21% (2022), compared with a mean of 3.37%.
- The largest annual shift saw Operating Margin crashed -1102bps in 2023 before it surged 1190bps in 2024.
- Over 5 years, Operating Margin stood at 5.16% in 2022, then surged by 168bps to 3.5% in 2023, then soared by 66bps to 5.82% in 2024, then plummeted by -35bps to 3.8% in 2025, then increased by 23bps to 4.68% in 2026.
- Business Quant data shows Operating Margin for GHC at 4.68% in Q1 2026, 3.8% in Q4 2025, and 5.25% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | 51Talk Online Education | 9.59 Bn | 9.55 Bn | 22.18 Mn | -16.93% |
| 2 | Graham Holdings | 4.73 Bn | 3.72 Bn | 841.00 Mn | 4.68% |
| 3 | Laureate Education | 4.69 Bn | 4.53 Bn | -16.39 Mn | -10.10% |
| 4 | Grand Canyon Education | 4.19 Bn | 3.94 Bn | 244.77 Mn | 30.92% |
| 5 | Stride | 3.77 Bn | 2.96 Bn | 231.57 Mn | 20.49% |
| 6 | Perdoceo Education | 2.11 Bn | 1.43 Bn | 174.68 Mn | 28.47% |
| 7 | Universal Technical Institute | 2.01 Bn | 1.84 Bn | 103.97 Mn | 0.15% |
| 8 | Strategic Education | 1.71 Bn | 1.55 Bn | - | 13.43% |
| 9 | Lincoln Educational Services | 1.46 Bn | 1.44 Bn | 120.06 Mn | 4.45% |
| 10 | American Public Education | 943.17 Mn | 722.17 Mn | 100.11 Mn | 12.39% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.68% |
| Dec 31, 2025 | 3.80% |
| Sep 30, 2025 | 5.25% |
| Jun 30, 2025 | 5.98% |
| Mar 31, 2025 | 4.07% |
| Dec 31, 2024 | 5.82% |
| Sep 30, 2024 | 6.76% |
| Jun 30, 2024 | 2.19% |
| Mar 31, 2024 | 3.07% |
| Dec 31, 2023 | 3.50% |
| Sep 30, 2023 | -5.14% |
| Jun 30, 2023 | 5.25% |
| Mar 31, 2023 | 2.68% |
| Dec 31, 2022 | -5.16% |
| Sep 30, 2022 | 5.88% |
| Jun 30, 2022 | 4.21% |
| Mar 31, 2022 | 4.37% |
| Dec 31, 2021 | 2.61% |
| Sep 30, 2021 | -2.05% |
| Jun 30, 2021 | 4.69% |
| Mar 31, 2021 | 4.75% |
| Dec 31, 2020 | 5.87% |
| Sep 30, 2020 | 5.61% |
| Jun 30, 2020 | 0.90% |
| Mar 31, 2020 | 1.10% |
| Dec 31, 2019 | 3.97% |
| Sep 30, 2019 | 2.20% |
| Jun 30, 2019 | 7.86% |
| Mar 31, 2019 | 5.78% |
| Dec 31, 2018 | 10.97% |
| Sep 30, 2018 | 9.00% |
| Jun 30, 2018 | 9.76% |
| Mar 31, 2018 | 6.70% |
| Dec 31, 2017 | 7.32% |
| Sep 30, 2017 | 4.10% |
| Jun 30, 2017 | 7.36% |
| Mar 31, 2017 | 1.76% |
| Dec 31, 2016 | 17.39% |
| Sep 30, 2016 | 74.27% |
| Jun 30, 2016 | 11.79% |