Education was Graham Holdings’s largest segment in fiscal 2025, bringing in $1.74B of $4.91B (36%).
| Segment | FY 2010 | FY 2011 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Education | $1.43B | $1.59B | $1.69B | $1.74B | |||||||||||||
| Cable | — | — | — | — | |||||||||||||
| Cable Television | — | — | — | — | |||||||||||||
| Automotive | $734.19M | $1.08B | $1.20B | $1.13B | |||||||||||||
| Newspaper Publishing | — | — | — | — | |||||||||||||
| Healthcare | — | $459.48M | $611.11M | $815.05M | |||||||||||||
| Manufacturing | $486.64M | $447.91M | $395.64M | $436.28M | |||||||||||||
| Television Broadcasting | $535.65M | $472.44M | $535.68M | $425.11M | |||||||||||||
| Other Businesses & Corporate Office | — | $371.23M | $358.82M | $360.14M | |||||||||||||
| Other Businesses | $416.08M | — | — | — | |||||||||||||
| Other Segments | — | — | — | — | |||||||||||||
| Graham Healthcare Group | $326.00M | — | — | — | |||||||||||||
| Socialcode | — | — | — | — | |||||||||||||
| Intersegment Elimination | -$1.99M | -$3.66M | -$2.60M | -$2.50M | |||||||||||||
| Total | $3.92B | $4.41B | $4.79B | $4.91B |
Graham Holdings brought in $4.91B from its seven segments in fiscal 2025, the year ended December 31, 2025. That was up 2.5% from $4.79B in fiscal 2024. Education was the largest at $1.74B (35.5%), ahead of Automotive at $1.13B (23.1%) and Healthcare at $815.05M (16.6%). The other three segments brought in $1.22B combined.
Compared with fiscal 2024, Healthcare grew fastest, up 33.4% to $815.05M, while Television Broadcasting fell the most, down 20.6% to $425.11M.
Graham Holdings began breaking out Healthcare in fiscal 2023 and Other Businesses & Corporate Office in fiscal 2023. Graham Holdings stopped reporting Other Businesses ($416.08M in fiscal 2022) and Graham Healthcare Group ($326.00M in fiscal 2022) as separate segments. The total is net of Intersegment Elimination, which took $2.50M off revenue in fiscal 2025.
Services was Graham Holdings’s largest product and service line in fiscal 2025, bringing in $2.66B of $4.91B (54%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Services | $2.33B | $2.48B | $2.70B | $2.66B | ||||||
| Goods | $1.60B | $1.93B | $2.09B | $2.25B | ||||||
| Kaplan International | — | — | — | — | ||||||
| Higher Education | — | — | — | — | ||||||
| Television Broadcasting | — | — | — | — | ||||||
| Manufacturing | — | — | — | — | ||||||
| Test Preparation | — | — | — | — | ||||||
| Health Care | — | — | — | — | ||||||
| Professional (U.S.) | — | — | — | — | ||||||
| Socialcode | — | — | — | — | ||||||
| Other Businesses | — | — | — | — | ||||||
| Kaplan Corporate & Other | — | — | — | — | ||||||
| Education Intersegment Eliminations | — | — | — | — | ||||||
| Total | $3.92B | $4.41B | $4.79B | $4.91B |
Graham Holdings brought in $4.91B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 2.5% from $4.79B in fiscal 2024. Services was the largest at $2.66B (54.3%), ahead of Goods at $2.25B (45.7%).
Compared with fiscal 2024, Goods grew 7.3% to $2.25B, while Services fell 1.2% to $2.66B. From fiscal 2022 to 2025, combined revenue from these lines grew from $3.92B to $4.91B, a compound annual growth rate of 7.8%. Services' share of the total fell from 59.3% to 54.3%.
Graham Holdings (GHC) reports its revenue by segment and by product and service. In fiscal 2025, Education was its largest segment, bringing in $1.74B (35.5% of the total), followed by Automotive at $1.13B (23.1%).
Education was Graham Holdings' largest segment in fiscal 2025, bringing in $1.74B, or 35.5% of the $4.91B total across its seven segments.
Services was Graham Holdings' largest product and service line in fiscal 2025, bringing in $2.66B, or 54.3% of the $4.91B total across its two product and service lines.
Among Graham Holdings' segments that make up at least 2% of revenue, Healthcare grew fastest in fiscal 2025, up 33.4% from $611.11M to $815.05M.
Every figure comes from Graham Holdings' annual financial filings, as reported. Each line keeps the name Graham Holdings gives it, and years follow its fiscal calendar.
Graham Holdings' revenue by segment goes back to fiscal 2010, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.