Graham Holdings Company — Earnings Quality Grade B
GHC · Consumer Defensive
Generally healthy
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 39 days, change +2 days YoY
AR growth 8.6% vs revenue growth 2.5%
Revenue 2.5%, CFFO -14.7%. Cash follows revenue
Expense Quality
Inventory 2.6% vs COGS 3.5%. Normal
CapEx growth -13.3% vs revenue 2.5%. Normal
SG&A/Gross Profit = 75.5%, exceeds 70%
Gross margin 29.9%, change -0.7pp. Stable
Cash Flow Quality
CFFO/NI = 1.19. Profits backed by cash
FCF $0.3B, FCF/NI = 0.94
Accruals ratio = -0.7%. Low accruals
Cash $1.4B covers debt $1.3B
Balance Sheet Health
Goodwill+Intangibles $1.8B = 38% of equity
Debt/EBITDA = 1.8x. Healthy
Other assets -38.3% vs revenue 2.5%. Normal
Write-offs up 1879% YoY
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 6% YoY. Normal
Manipulation Score
M-Score = -2.41 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25