Graham Holdings Company (GHC) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 67.73M | 20.64M | 178.09M | 94.8M | 46.01M | 116.31M | 237.57M | 52.04M | 1.07M | 61.13M | 140.29M | 39.43M | 22.81M | 31.94M | 104.26M | 54.52M | 44.89M | 5.16M | 124.43M | 48.85M |
| Operating CF Margin % | - | 1.65% | 13.93% | 7.8% | 3.95% | 9.34% | 19.68% | 4.39% | 0.09% | 5.24% | 12.62% | 3.57% | 2.21% | 3% | 10.3% | 5.84% | 4.91% | 0.6% | 15.37% | 6.1% |
| Operating CF Growth % | 47.2% | -82.25% | -25.04% | 82.16% | 4212.46% | 90.25% | 69.34% | 31.99% | -95.32% | 91.41% | 34.56% | -27.68% | -49.19% | 519.57% | -16.21% | 11.61% | 87.06% | 117.05% | 4.09% | -55.17% |
| Net Income | 30.75M | 110.89M | 126.24M | 40.42M | 25.72M | 551.59M | 76.77M | -21.09M | 123.55M | 52.89M | -21.13M | 124.17M | 52.98M | 6.64M | 32.59M | -66.61M | 95.01M | 85.08M | 39.68M | 115.93M |
| Depreciation & Amortization | 58.29M | 53.77M | 44.49M | 41.52M | 42.48M | 67.98M | 71.14M | 47.98M | 50.14M | 51.31M | 149.22M | 51.91M | 51.21M | 174.38M | 52.16M | 50.21M | 51.96M | 53.47M | 79.95M | 52.44M |
| Stock-Based Compensation | 1.5M | 921K | 1.69M | 1.56M | 1.55M | 1.61M | 1.63M | 0 | 0 | 0 | 1.69M | 1.53M | 1.8M | 1.57M | 0 | 1.43M | 1.68M | 973K | 1.63M | 1.57M |
| Deferred Taxes | 2.74M | 63.91M | 25.5M | 2.14M | 941K | 211.9M | 6.98M | -3.73M | 12.26M | 18.07M | -528K | 28M | -1.78M | -13.03M | 3.39M | -10.39M | 16.18M | 21.47M | -9.28M | 23.55M |
| Other Non-Cash Items | -25.55M | -115.7M | -114.3M | 11.14M | -49.14M | -709.62M | -64.25M | -93K | -129.1M | -35.8M | -39.11M | -104.69M | -47.96M | -83.14M | 13.99M | 117.91M | -87.16M | -73.11M | -42.97M | -114.76M |
| Working Capital Changes | 0 | -93.13M | 94.47M | -1.99M | 24.47M | -7.15M | 145.3M | 28.98M | -55.77M | -25.34M | 50.14M | -61.5M | -33.43M | -54.49M | 2.12M | -38.03M | -32.77M | -82.73M | 55.42M | -29.87M |
| Change in Receivables | 48.47M | -24.28M | -47.66M | 44.19M | 16.55M | -5K | -49.39M | 39.19M | 21.52M | -7.4M | -77.87M | 39.25M | 47.24M | -17.3M | -67.07M | 36.78M | 89.23M | -31.94M | -65.89M | 13.35M |
| Change in Inventory | -2.15M | 12.61M | -10.56M | -2.56M | 35.81M | 16.4M | 17.27M | 3.37M | -28.75M | -15.71M | -14.89M | -12.96M | -19.32M | -16.84M | -11.13M | -21.06M | -15.3M | -16.57M | 26.09M | 6.52M |
| Change in Payables | -74.39M | -25.97M | 0 | 17.52M | 0 | 0 | 62.13M | 15.25M | -43.76M | 31.57M | 24.74M | -21.1M | 0 | 0 | 3.46M | 0 | -78.82M | 32.4M | 0 | 0 |
| Cash from Investing | 10.5M | -81.08M | -67.05M | -12.73M | -18.59M | -26.65M | 6.1M | -20.82M | -20.96M | -34.6M | -96.46M | -21.02M | -1.95M | -12.42M | -153.73M | -37.44M | 19.52M | -74.18M | -109.95M | -247.22M |
| Capital Expenditures | -19.17M | -23.26M | -16.33M | -16.8M | -15.48M | -25.23M | -18.12M | -18.3M | -21.26M | -32.29M | -20.25M | -18.36M | -22.55M | -25.59M | -24.94M | -17.95M | -14.21M | -21.6M | -113.43M | -14.39M |
| CapEx % of Revenue | - | 1.86% | 1.28% | 1.38% | 1.33% | 2.03% | 1.5% | 1.54% | 1.84% | 2.77% | 1.82% | 1.66% | 2.19% | 2.4% | 2.46% | 1.92% | 1.55% | 2.5% | 14.01% | 1.8% |
| Acquisitions | 0 | 0 | -34.46M | 0 | -225K | -1.43M | -4.32M | -623K | 495K | -1.62M | -77.86M | -7.25M | -4.74M | -9.27M | -123.87M | -4.25M | 1.33M | -80.33M | 2.33M | -270.45M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -17.29M | 6.35M | 8.74M | -26.55M | 1.94M | 14K | 10.45M | -664K | 327K | 521K | 1.65M | -28.89M | 2.47M | 78K | 961K | -2.27M | 363K | 255.4M | 474K | -4K |
| Cash from Financing | -152.09M | 132.75M | -102.31M | -66.78M | -121.73M | -64.65M | -155.05M | -22.79M | 1.53M | -32.86M | 8.18M | -20.08M | -57.8M | -9.92M | 81.39M | -25.21M | -64.36M | 79.05M | 11.15M | -49.05M |
| Debt Issued (Net) | 0 | 177.13M | -83.04M | -56.91M | 109.82M | -37.37M | -63.01M | 18.27M | 31.9M | -29.97M | 111.37M | 14.52M | -33.85M | 15.17M | 101.47M | -7.66M | -44.73M | 118.48M | 29.43M | 224K |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | -3.47M | -15.93M | -48.66M | -29.49M | -20.03M | -62.22M | -63.17M | -45.64M | -23.44M | -16.8M | -20.18M | -24.78M | -8.09M | -33.84M | -21.84M | 0 |
| Dividends Paid | -8.2M | -7.85M | -7.85M | -7.85M | -7.81M | -7.42M | -7.57M | -7.67M | -7.68M | -7.42M | -7.79M | -7.84M | -7.91M | -7.59M | -7.66M | -7.72M | -7.75M | -7.48M | -7.55M | -7.55M |
| Share Repurchases | -34.14M | 0 | 0 | 0 | -3.47M | -15.93M | -48.66M | -29.49M | -20.03M | -60.91M | -63.17M | -45.64M | -23.44M | -16.8M | -20.28M | -24.78M | -9.53M | -33.84M | -21.84M | 0 |
| Other Financing | -143.9M | -36.52M | -11.42M | -2.02M | -220.27M | -3.93M | -35.81M | -3.9M | -2.67M | 66.75M | -32.24M | 18.88M | 7.39M | -699K | 7.76M | 14.95M | -3.79M | 1.89M | 11.12M | -41.72M |
| Net Change in Cash | -77.45M | 74.3M | 7.75M | 22.41M | -90.92M | 15.63M | 94.61M | 8.63M | -22.91M | 1.25M | 48.26M | -2.34M | -35.71M | 19.58M | 24.99M | -12.82M | -19K | 9.91M | 23.4M | -247.09M |
| Free Cash Flow | 48.56M | -2.62M | 161.75M | 77.99M | 30.53M | 91.08M | 219.45M | 33.74M | -20.19M | 28.84M | 120.04M | 21.07M | 257K | 6.35M | 79.31M | 36.57M | 30.68M | -16.45M | 10.99M | 34.46M |
| FCF Margin % | - | -0.21% | 12.65% | 6.42% | 2.62% | 7.31% | 18.18% | 2.85% | -1.75% | 2.47% | 10.8% | 1.91% | 0.02% | 0.6% | 7.83% | 3.92% | 3.35% | -1.91% | 1.36% | 4.3% |
| FCF Growth % | 59.05% | -102.88% | -26.29% | 131.17% | 251.22% | 215.77% | 82.81% | 60.11% | -7956.42% | 354.09% | 51.35% | -42.37% | -99.16% | 138.62% | 621.5% | 6.13% | 181.88% | 62.36% | -89.39% | -63.33% |
| FCF per Share | 7335.50 | -0.60 | 36.95 | 17.84 | 7.01 | 20.98 | 50.06 | 7.67 | -4.53 | 6.39 | 26.08 | 4.47 | 0.05 | 1.33 | 16.46 | 7.55 | 6.28 | -3.34 | 2.21 | 6.91 |
| FCF Conversion (FCF/Net Income) | 2.33x | 0.19x | 1.45x | 2.58x | 1.93x | 0.21x | 3.28x | -2.47x | 0.01x | 1.15x | -6.09x | 0.32x | 0.44x | 5.18x | 3.18x | -0.81x | 0.47x | 0.06x | 3.14x | 0.42x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |