Graham Holdings annual free cash flow
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2025
Graham Holdings Free Cash Flow (FCF) History (GHC)
Graham Holdings reported $275.3M in free cash flow for fiscal 2025, a decrease of 15.05% from the previous fiscal year, with a free cash flow margin of 5.61%.
View full Graham Holdings company overviewGraham Holdings free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $275.3M | −$48.8M | −15.05% | +5.61% |
| 2024 | 2024-12-31 | $324.1M | $157.6M | +94.72% | +6.76% |
| 2023 | 2023-12-31 | $166.4M | $13.5M | +8.83% | +3.77% |
| 2022 | 2022-12-31 | $152.9M | $113.0M | +283.36% | +3.90% |
| 2021 | 2021-12-31 | $39.9M | −$101.2M | −71.72% | +1.25% |
| 2020 | 2020-12-31 | $141.1M | $69.4M | +96.86% | +4.88% |
| 2019 | 2019-12-31 | $71.7M | −$117.2M | −62.05% | +2.44% |
| 2018 | 2018-12-31 | $188.8M | −$18.9M | −9.09% | +7.00% |
| 2017 | 2017-12-31 | $207.7M | $13.1M | +6.71% | +8.01% |
| 2016 | 2016-12-31 | $194.6M | $260.9M | — | +7.84% |
| 2015 | 2015-12-31 | −$66.2M | −$142.4M | — | −2.56% |
| 2014 | 2014-12-31 | $76.2M | −$27.6M | −26.56% | +2.78% |
| 2013 | 2013-12-31 | $103.8M | −$155.4M | −59.97% | +3.99% |
| 2012 | 2012-12-31 | $259.2M | $82.3M | +46.53% | +7.69% |
| 2011 | 2011-12-31 | $176.9M | −$273.1M | −60.69% | +5.02% |
| 2010 | 2011-01-02 | $450.0M | $56.4M | +14.32% | +9.81% |
| 2009 | 2010-01-03 | $393.6M | $146.5M | +59.27% | +9.10% |
| 2008 | 2008-12-28 | $247.1M | — | — | +5.87% |
Graham Holdings quarterly free cash flow
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Q4.25
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q4 2025 | 2025-12-31 | $5.0M | −$86.1M | −94.48% | +0.40% |
| Q3 2025 | 2025-09-30 | $161.8M | −$57.7M | −26.29% | +12.65% |
| Q2 2025 | 2025-06-30 | $78.0M | $44.3M | +131.17% | +6.42% |
| Q1 2025 | 2025-03-31 | $30.5M | $50.7M | — | +2.62% |
| Q4 2024 | 2024-12-31 | $91.1M | $66.0M | +263.48% | +7.31% |
| Q3 2024 | 2024-09-30 | $219.4M | $99.4M | +82.81% | +18.18% |
| Q2 2024 | 2024-06-30 | $33.7M | $12.7M | +60.11% | +2.85% |
| Q1 2024 | 2024-03-31 | −$20.2M | −$20.4M | — | −1.75% |
| Q4 2023 | 2023-12-31 | $25.1M | $18.7M | +294.49% | +2.15% |
| Q3 2023 | 2023-09-30 | $120.0M | $40.7M | +51.35% | +10.80% |
| Q2 2023 | 2023-06-30 | $21.1M | −$15.5M | −42.37% | +1.91% |
| Q1 2023 | 2023-03-31 | $257,000 | −$30.4M | −99.16% | +0.02% |
| Q4 2022 | 2022-12-31 | $6.4M | $22.8M | — | +0.60% |
| Q3 2022 | 2022-09-30 | $79.3M | $68.3M | +621.50% | +7.83% |
| Q2 2022 | 2022-06-30 | $36.6M | $2.1M | +6.13% | +3.92% |
| Q1 2022 | 2022-03-31 | $30.7M | $19.8M | +181.88% | +3.35% |
| Q4 2021 | 2021-12-31 | −$16.4M | $27.3M | — | −1.91% |
| Q3 2021 | 2021-09-30 | $11.0M | −$92.6M | −89.39% | +1.36% |
| Q2 2021 | 2021-06-30 | $34.5M | −$59.5M | −63.33% | +4.30% |
| Q1 2021 | 2021-03-31 | $10.9M | $23.7M | — | +1.53% |
| Q4 2020 | 2020-12-31 | −$43.7M | −$118.8M | — | −5.55% |
| Q3 2020 | 2020-09-30 | $103.6M | $37.7M | +57.13% | +14.45% |
| Q2 2020 | 2020-06-30 | $94.0M | $97.2M | — | +14.39% |
| Q1 2020 | 2020-03-31 | −$12.8M | $53.3M | — | −1.75% |
| Q4 2019 | 2019-12-31 | $75.1M | $19.3M | +34.52% | +9.83% |
| Q3 2019 | 2019-09-30 | $66.0M | −$37.0M | −35.96% | +8.93% |
| Q2 2019 | 2019-06-30 | −$3.2M | −$31.8M | — | −0.43% |
| Q1 2019 | 2019-03-31 | −$66.2M | −$67.6M | — | −9.56% |
| Q4 2018 | 2018-12-31 | $55.8M | $25.1M | +81.80% | +8.10% |
| Q3 2018 | 2018-09-30 | $103.0M | $27.6M | +36.62% | +15.26% |
| Q2 2018 | 2018-06-30 | $28.6M | $3.2M | +12.62% | +4.25% |
| Q1 2018 | 2018-03-31 | $1.4M | −$74.8M | −98.10% | +0.22% |
| Q4 2017 | 2017-12-31 | $30.7M | −$53.9M | −63.69% | +4.54% |
| Q3 2017 | 2017-09-30 | $75.4M | $89.7M | — | +11.47% |
| Q2 2017 | 2017-06-30 | $25.4M | −$48.8M | −65.79% | +3.75% |
| Q1 2017 | 2017-03-31 | $76.2M | $26.0M | +51.89% | +13.08% |
| Q4 2016 | 2016-12-31 | $84.6M | $146.9M | — | +13.43% |
| Q3 2016 | 2016-09-30 | −$14.3M | −$33.4M | — | −2.30% |
| Q2 2016 | 2016-06-30 | $74.2M | $3.7M | +5.23% | +11.80% |
| Q1 2016 | 2016-03-31 | $50.2M | $143.7M | — | +8.34% |
| Q4 2015 | 2015-12-31 | −$62.3M | $35.9M | — | −10.11% |
| Q3 2015 | 2015-09-30 | $19.0M | −$59.6M | −75.78% | +2.97% |
| Q2 2015 | 2015-06-30 | $70.5M | $15.2M | +27.44% | +10.36% |
| Q1 2015 | 2015-03-31 | −$93.5M | −$134.0M | — | −14.44% |
| Q4 2014 | 2014-12-31 | −$98.2M | $2.3M | — | −13.50% |
| Q3 2014 | 2014-09-30 | $78.6M | −$15.9M | −16.79% | +11.18% |
| Q2 2014 | 2014-06-30 | $55.3M | −$17.0M | −23.47% | +8.21% |
| Q1 2014 | 2014-03-31 | $40.5M | $2.9M | +7.82% | +6.40% |
| Q4 2013 | 2013-12-31 | −$100.6M | −$216.7M | — | −11.54% |
| Q3 2013 | 2013-09-30 | $94.5M | $23.2M | +32.60% | +11.03% |
| Q2 2013 | 2013-06-30 | $72.3M | $39.6M | +120.87% | +8.31% |
| Q1 2013 | 2013-03-31 | $37.6M | −$1.6M | −4.05% | +4.58% |
| Q4 2012 | 2012-12-31 | $116.1M | $57.1M | +96.89% | +12.96% |
| Q3 2012 | 2012-09-30 | $71.2M | $40.5M | +131.53% | +8.12% |
| Q2 2012 | 2012-06-30 | $32.7M | −$44.4M | −57.53% | +3.83% |
| Q1 2012 | 2012-03-31 | $39.1M | $29.1M | +288.15% | +4.73% |
| Q4 2011 | 2011-12-31 | $59.0M | −$6.7M | −10.25% | +5.67% |
| Q3 2011 | 2011-10-02 | $30.8M | −$121.0M | −79.73% | +3.04% |
| Q2 2011 | 2011-07-03 | $77.1M | −$11.7M | −13.16% | +7.35% |
| Q1 2011 | 2011-04-03 | $10.1M | −$133.6M | −92.98% | +0.98% |
| Q4 2010 | 2011-01-02 | $65.7M | −$104.5M | −61.40% | +5.56% |
| Q3 2010 | 2010-10-03 | $151.8M | — | — | +12.83% |
| Q2 2010 | 2010-07-04 | $88.8M | — | — | +7.44% |
| Q1 2010 | 2010-04-04 | $143.7M | — | — | +12.78% |
| Q3 2009 | 2009-09-27 | $170.2M | — | — | +15.35% |
Graham Holdings free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $141.1M to $275.3M, a compound annual growth rate of 14.31%. Graham Holdings's latest reported quarter, Q4 2025, generated $5.0M in free cash flow, a decrease of 94.48% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Graham Holdings filings at SEC.gov ↗