Graham Holdings Co
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Graham Holdings Co (GHC). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Education [Member] | $1.31B 45.2% | $1.36B 42.7% · +4.3% | $1.43B 36.4% · +4.9% | $1.59B 35.9% · +11.2% |
| Automotive [Member] | $258.1M 8.9% | $327.1M 10.3% · +26.7% | $734.2M 18.7% · +124.5% | $1.08B 24.4% · +47.1% |
| Television Broadcasting [Member] | $525.2M 18.2% | $494.2M 15.5% · -5.9% | $535.7M 13.6% · +8.4% | $472.4M 10.7% · -11.8% |
| Graham Healthcare Group [Member] | $198.2M 6.9% | $223.0M 7.0% · +12.5% | $326.0M 8.3% · +46.2% | $459.5M 10.4% · +40.9% |
| Manufacturing [Member] | $416.1M 14.4% | $458.1M 14.4% · +10.1% | $486.6M 12.4% · +6.2% | $447.9M 10.1% · -8.0% |
| Other Businesses [Member] | $187.3M 6.5% | $324.4M 10.2% · +73.1% | $416.1M 10.6% · +28.3% | $369.7M 8.4% · -11.2% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Education [Member] | $11.6M 0.9% | $50.6M 3.7% | $82.9M 5.8% | $104.5M 6.6% |
| Automotive [Member] | -$6.2M -2.4% | $11.8M 3.6% | $34.6M 4.7% | $39.3M 3.6% |
| Television Broadcasting [Member] | $194.5M 37.0% | $149.4M 30.2% | $201.9M 37.7% | $133.9M 28.4% |
| Graham Healthcare Group [Member] | $26.1M 13.2% | $26.8M 12.0% | $15.3M 4.7% | $23.8M 5.2% |
| Manufacturing [Member] | $12.3M 3.0% | -$16.0M -3.5% | $33.7M 6.9% | -$16.8M -3.7% |
| Other Businesses [Member] | -$86.0M -45.9% | -$86.1M -26.6% | -$228.4M -54.9% | -$159.7M -43.2% |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by product line
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Services [Member] | $2.06B 71.2% | $2.09B 65.6% · +1.6% | $2.33B 59.3% · +11.4% | $2.48B 56.3% · +6.7% | $2.70B 56.3% · +8.6% | $2.66B 54.3% · -1.2% |
| Goods [Member] | $832.9M 28.8% | $1.10B 34.4% · +31.6% | $1.60B 40.7% · +45.6% | $1.93B 43.7% · +21.0% | $2.09B 43.7% · +8.4% | $2.25B 45.7% · +7.3% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 14, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.