Graham Holdings Co
Graham Holdings Company, through its subsidiaries, operates as a diversified holding company in the United States and internationally. The company provides test preparation services and materials; professional training and exam preparation for professional certifications and licensures; and non-academic operations support services to the Purdue University Global; operations support services for o… Read more
Graham Holdings Co (GHC) - Net Assets
Latest net assets as of September 2025: $4.54 Billion USD
Based on the latest financial reports, Graham Holdings Co (GHC) has net assets worth $4.54 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($7.85 Billion) and total liabilities ($3.31 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $4.54 Billion |
| % of Total Assets | 57.83% |
| Annual Growth Rate | 6.67% |
| 5-Year Change | 14.34% |
| 10-Year Change | 73.87% |
| Growth Volatility | 14.21 |
Graham Holdings Co - Net Assets Trend (1985–2024)
This chart illustrates how Graham Holdings Co's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Graham Holdings Co (1985–2024)
The table below shows the annual net assets of Graham Holdings Co from 1985 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $4.33 Billion | +6.49% |
| 2023-12-31 | $4.07 Billion | +7.74% |
| 2022-12-31 | $3.77 Billion | -14.72% |
| 2021-12-31 | $4.43 Billion | +16.86% |
| 2020-12-31 | $3.79 Billion | +13.63% |
| 2019-12-31 | $3.33 Billion | +14.28% |
| 2018-12-31 | $2.92 Billion | +0.06% |
| 2017-12-31 | $2.92 Billion | +18.84% |
| 2016-12-31 | $2.45 Billion | -1.52% |
| 2015-12-31 | $2.49 Billion | -20.96% |
| 2014-12-31 | $3.15 Billion | -4.82% |
| 2013-12-31 | $3.31 Billion | +27.48% |
| 2012-12-31 | $2.60 Billion | -0.43% |
| 2011-12-31 | $2.61 Billion | -7.53% |
| 2010-12-31 | $2.82 Billion | -4.05% |
| 2009-12-31 | $2.94 Billion | +2.89% |
| 2008-12-31 | $2.86 Billion | -17.44% |
| 2007-12-31 | $3.46 Billion | +9.55% |
| 2006-12-31 | $3.16 Billion | +19.75% |
| 2005-12-31 | $2.64 Billion | +9.37% |
| 2004-12-31 | $2.41 Billion | +16.27% |
| 2003-12-31 | $2.07 Billion | +12.93% |
| 2002-12-31 | $1.84 Billion | +9.14% |
| 2001-12-31 | $1.68 Billion | +12.67% |
| 2000-12-31 | $1.49 Billion | +8.30% |
| 1999-12-31 | $1.38 Billion | -13.77% |
| 1998-12-31 | $1.60 Billion | +33.78% |
| 1997-12-31 | $1.20 Billion | -10.39% |
| 1996-12-31 | $1.33 Billion | +12.71% |
| 1995-12-31 | $1.18 Billion | +5.08% |
| 1994-12-31 | $1.13 Billion | +3.63% |
| 1993-12-31 | $1.09 Billion | +9.51% |
| 1992-12-31 | $993.00 Million | +7.43% |
| 1991-12-31 | $924.30 Million | +2.12% |
| 1990-12-31 | $905.10 Million | -3.87% |
| 1989-12-31 | $941.50 Million | +8.44% |
| 1988-12-31 | $868.20 Million | +41.40% |
| 1987-12-31 | $614.00 Million | +40.63% |
| 1986-12-31 | $436.60 Million | +24.92% |
| 1985-12-31 | $349.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Graham Holdings Co's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1360.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $8.03 Billion | 188.69% |
| Common Stock | $20.00 Million | 0.47% |
| Other Comprehensive Income | $334.80 Million | 7.87% |
| Total Equity | $4.26 Billion | 100.00% |
Graham Holdings Co Competitors by Market Cap
The table below lists competitors of Graham Holdings Co ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
YUNDA Holding Co Ltd
SHE:002120
|
$2.57 Billion |
|
Hainan Mining Co Ltd
SHG:601969
|
$2.57 Billion |
|
ASR Microelectronics Co. Ltd. A
SHG:688220
|
$2.57 Billion |
|
Provident Financial Services Inc
NYSE:PFS
|
$2.57 Billion |
|
Haemonetics Corporation
NYSE:HAE
|
$2.57 Billion |
|
Penske Automotive Group Inc
NYSE:PAG
|
$2.57 Billion |
|
China Resources Double-Crane Pharmaceutical Co Ltd
SHG:600062
|
$2.56 Billion |
|
McGrath RentCorp
NASDAQ:MGRC
|
$2.56 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Graham Holdings Co's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,975,737,000 to 4,256,661,000, a change of 280,924,000 (7.1%).
- Net income of 724,634,000 contributed positively to equity growth.
- Dividend payments of 30,347,000 reduced retained earnings.
- Share repurchases of 114,101,000 reduced equity.
- Other comprehensive income decreased equity by 279,540,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $724.63 Million | +17.02% |
| Dividends Paid | $30.35 Million | -0.71% |
| Share Repurchases | $114.10 Million | -2.68% |
| Other Comprehensive Income | $-279.54 Million | -6.57% |
| Other Changes | $-19.72 Million | -0.46% |
| Total Change | $- | 7.07% |
Book Value vs Market Value Analysis
This analysis compares Graham Holdings Co's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.12x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 40.71x to 1.12x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $26.48 | $1078.01 | x |
| 1986-12-31 | $33.99 | $1078.01 | x |
| 1987-12-31 | $47.75 | $1078.01 | x |
| 1988-12-31 | $67.46 | $1078.01 | x |
| 1989-12-31 | $73.74 | $1078.01 | x |
| 1990-12-31 | $74.91 | $1078.01 | x |
| 1991-12-31 | $77.87 | $1078.01 | x |
| 1992-12-31 | $83.92 | $1078.01 | x |
| 1993-12-31 | $92.57 | $1078.01 | x |
| 1994-12-31 | $96.96 | $1078.01 | x |
| 1995-12-31 | $106.60 | $1078.01 | x |
| 1996-12-31 | $121.58 | $1078.01 | x |
| 1997-12-31 | $111.46 | $1078.01 | x |
| 1998-12-31 | $157.96 | $1078.01 | x |
| 1999-12-31 | $136.87 | $1078.01 | x |
| 2000-12-31 | $157.97 | $1078.01 | x |
| 2001-12-31 | $177.20 | $1078.01 | x |
| 2002-12-31 | $192.92 | $1078.01 | x |
| 2003-12-31 | $217.12 | $1078.01 | x |
| 2004-12-31 | $251.55 | $1078.01 | x |
| 2005-12-31 | $274.40 | $1078.01 | x |
| 2006-12-31 | $328.96 | $1078.01 | x |
| 2007-12-31 | $363.26 | $1078.01 | x |
| 2008-12-31 | $303.03 | $1078.01 | x |
| 2009-12-31 | $312.99 | $1078.01 | x |
| 2010-12-31 | $315.12 | $1078.01 | x |
| 2011-12-31 | $329.15 | $1078.01 | x |
| 2012-12-31 | $350.77 | $1078.01 | x |
| 2013-12-31 | $451.48 | $1078.01 | x |
| 2014-12-31 | $480.38 | $1078.01 | x |
| 2015-12-31 | $434.90 | $1078.01 | x |
| 2016-12-31 | $438.89 | $1078.01 | x |
| 2017-12-31 | $525.06 | $1078.01 | x |
| 2018-12-31 | $543.16 | $1078.01 | x |
| 2019-12-31 | $623.10 | $1078.01 | x |
| 2020-12-31 | $731.52 | $1078.01 | x |
| 2021-12-31 | $886.12 | $1078.01 | x |
| 2022-12-31 | $771.58 | $1078.01 | x |
| 2023-12-31 | $854.26 | $1078.01 | x |
| 2024-12-31 | $966.32 | $1078.01 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Graham Holdings Co utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.02%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.13%
- • Asset Turnover: 0.62x
- • Equity Multiplier: 1.80x
- Recent ROE (17.02%) is above the historical average (13.68%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 32.70% | 10.60% | 1.22x | 2.53x | $79.35 Million |
| 1986 | 22.95% | 8.25% | 1.06x | 2.62x | $56.54 Million |
| 1987 | 30.41% | 14.19% | 1.10x | 1.94x | $125.30 Million |
| 1988 | 31.00% | 19.68% | 0.96x | 1.64x | $182.28 Million |
| 1989 | 21.02% | 13.70% | 0.94x | 1.63x | $103.75 Million |
| 1990 | 19.29% | 12.14% | 0.96x | 1.65x | $84.09 Million |
| 1991 | 12.84% | 8.60% | 0.93x | 1.61x | $26.27 Million |
| 1992 | 12.87% | 8.81% | 0.93x | 1.58x | $28.50 Million |
| 1993 | 15.21% | 11.04% | 0.92x | 1.49x | $56.66 Million |
| 1994 | 15.06% | 10.51% | 0.95x | 1.51x | $57.01 Million |
| 1995 | 16.05% | 11.06% | 0.99x | 1.46x | $71.68 Million |
| 1996 | 16.54% | 11.91% | 0.99x | 1.40x | $87.33 Million |
| 1997 | 23.55% | 14.39% | 0.94x | 1.74x | $162.00 Million |
| 1998 | 26.08% | 19.77% | 0.77x | 1.71x | $257.30 Million |
| 1999 | 16.37% | 10.19% | 0.74x | 2.16x | $87.83 Million |
| 2000 | 9.13% | 5.66% | 0.75x | 2.14x | $-12.95 Million |
| 2001 | 13.64% | 9.52% | 0.68x | 2.11x | $61.29 Million |
| 2002 | 11.12% | 7.90% | 0.72x | 1.95x | $20.54 Million |
| 2003 | 11.62% | 8.49% | 0.73x | 1.88x | $33.59 Million |
| 2004 | 13.79% | 10.08% | 0.76x | 1.79x | $91.48 Million |
| 2005 | 11.91% | 8.85% | 0.78x | 1.74x | $50.50 Million |
| 2006 | 10.27% | 8.31% | 0.73x | 1.70x | $8.51 Million |
| 2007 | 8.34% | 6.90% | 0.70x | 1.73x | $-57.51 Million |
| 2008 | 2.30% | 1.47% | 0.86x | 1.81x | $-220.03 Million |
| 2009 | 3.16% | 2.11% | 0.85x | 1.76x | $-201.18 Million |
| 2010 | 9.88% | 6.06% | 0.89x | 1.83x | $-3.32 Million |
| 2011 | 4.50% | 3.32% | 0.70x | 1.93x | $-143.04 Million |
| 2012 | 5.09% | 3.92% | 0.66x | 1.97x | $-127.60 Million |
| 2013 | 7.15% | 9.11% | 0.45x | 1.76x | $-94.21 Million |
| 2014 | 41.06% | 47.27% | 0.48x | 1.83x | $978.76 Million |
| 2015 | -4.04% | -3.89% | 0.59x | 1.75x | $-349.72 Million |
| 2016 | 6.87% | 6.79% | 0.56x | 1.81x | $-76.70 Million |
| 2017 | 10.36% | 11.65% | 0.52x | 1.69x | $10.53 Million |
| 2018 | 9.30% | 10.06% | 0.57x | 1.63x | $-20.47 Million |
| 2019 | 9.88% | 11.18% | 0.49x | 1.79x | $-4.07 Million |
| 2020 | 7.99% | 10.40% | 0.45x | 1.71x | $-75.57 Million |
| 2021 | 8.00% | 11.05% | 0.43x | 1.69x | $-87.88 Million |
| 2022 | 1.80% | 1.71% | 0.60x | 1.76x | $-306.06 Million |
| 2023 | 5.16% | 4.65% | 0.61x | 1.81x | $-192.29 Million |
| 2024 | 17.02% | 15.13% | 0.62x | 1.80x | $298.97 Million |
Industry Comparison
This section compares Graham Holdings Co's net assets metrics with peer companies in the Education & Training Services industry.
Industry Context
- Industry: Education & Training Services
- Average net assets among peers: $1,197,694,821
- Average return on equity (ROE) among peers: -57.58%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Graham Holdings Co (GHC) | $4.54 Billion | 32.70% | 0.73x | $2.57 Billion |
| ATA Creativity Global (AACG) | $50.32 Million | -242.94% | 0.93x | $25.30 Million |
| Afya Ltd (AFYA) | $3.64 Billion | 10.60% | 1.08x | $112.89 Million |
| Alliance International Education Leasing Holdings Limited (ALCIF) | $2.60 Billion | 14.32% | 0.61x | $519.50 Million |
| Ambow Education Holding Ltd (AMBO) | $1.38 Billion | -77.81% | 1.30x | $6.74 Million |
| American Public Education Inc (APEI) | $349.73 Million | -32.88% | 0.96x | $676.30 Million |
| Argentum 47 Inc (ARGQ) | $-864.76K | 0.00% | 0.00x | $45.77K |
| Asiarim Corporation (ARMC) | $-263.95K | 0.00% | 0.00x | $1.30K |
| Aspen Group Inc (ASPU) | $5.40K | -250.85% | 0.67x | $3.75 Million |
| Adtalem Global Education Inc (ATGE) | $1.54 Billion | 8.70% | 0.30x | $3.32 Billion |
| Bright Scholar Education Holdings Ltd Class A (BEDU) | $2.41 Billion | -4.96% | 1.27x | $57.66 Million |