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Side-by-side financial comparison of Andersons, Inc. (ANDE) and Graham Holdings Co (GHC), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Graham Holdings Co is the larger business by last-quarter revenue ($1.3B vs $329.5M, roughly 3.8× Andersons, Inc.). Andersons, Inc. runs the higher net margin — 20.5% vs 8.7%, a 11.8% gap on every dollar of revenue. On growth, Graham Holdings Co posted the faster year-over-year revenue change (0.4% vs -2.4%). Graham Holdings Co produced more free cash flow last quarter ($5.0M vs $-77.1M). Over the past eight quarters, Graham Holdings Co's revenue compounded faster (4.2% CAGR vs -1.8%).
The Andersons, Inc. is an American agribusiness established in 1947, that began as Andersons Truck Terminal (ATT) in the 1940s for the grain industry, headquartered in Maumee, Ohio. It is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors.
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
ANDE vs GHC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $329.5M | $1.3B |
| Net Profit | $67.4M | $108.7M |
| Gross Margin | 70.3% | — |
| Operating Margin | 26.6% | 3.8% |
| Net Margin | 20.5% | 8.7% |
| Revenue YoY | -2.4% | 0.4% |
| Net Profit YoY | 49.6% | -80.2% |
| EPS (diluted) | — | $24.76 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $329.5M | $1.3B | ||
| Q3 25 | $295.8M | $1.3B | ||
| Q2 25 | $535.0M | $1.2B | ||
| Q1 25 | $370.8M | $1.2B | ||
| Q4 24 | $337.5M | $1.2B | ||
| Q3 24 | $231.9M | $1.2B | ||
| Q2 24 | $492.5M | $1.2B | ||
| Q1 24 | $341.4M | $1.2B |
| Q4 25 | $67.4M | $108.7M | ||
| Q3 25 | $20.1M | $122.9M | ||
| Q2 25 | $7.9M | $36.7M | ||
| Q1 25 | $284.0K | $23.9M | ||
| Q4 24 | $45.1M | $548.8M | ||
| Q3 24 | $27.4M | $72.5M | ||
| Q2 24 | $36.0M | $-21.0M | ||
| Q1 24 | $5.6M | $124.4M |
| Q4 25 | 70.3% | — | ||
| Q3 25 | 57.8% | — | ||
| Q2 25 | 29.6% | — | ||
| Q1 25 | 41.2% | — | ||
| Q4 24 | 63.1% | — | ||
| Q3 24 | 76.4% | — | ||
| Q2 24 | 35.6% | — | ||
| Q1 24 | 37.6% | — |
| Q4 25 | 26.6% | 3.8% | ||
| Q3 25 | 8.7% | 5.2% | ||
| Q2 25 | 4.6% | 6.0% | ||
| Q1 25 | 0.9% | 4.1% | ||
| Q4 24 | 19.9% | 5.8% | ||
| Q3 24 | 26.8% | 6.8% | ||
| Q2 24 | 11.6% | 2.2% | ||
| Q1 24 | 4.1% | 3.1% |
| Q4 25 | 20.5% | 8.7% | ||
| Q3 25 | 6.8% | 9.6% | ||
| Q2 25 | 1.5% | 3.0% | ||
| Q1 25 | 0.1% | 2.0% | ||
| Q4 24 | 13.4% | 44.1% | ||
| Q3 24 | 11.8% | 6.0% | ||
| Q2 24 | 7.3% | -1.8% | ||
| Q1 24 | 1.6% | 10.8% |
| Q4 25 | — | $24.76 | ||
| Q3 25 | $0.59 | $27.91 | ||
| Q2 25 | $0.23 | $8.35 | ||
| Q1 25 | $0.01 | $5.45 | ||
| Q4 24 | $1.31 | $124.05 | ||
| Q3 24 | $0.80 | $16.42 | ||
| Q2 24 | $1.05 | $-4.79 | ||
| Q1 24 | $0.16 | $27.72 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $98.3M | $267.0M |
| Total DebtLower is stronger | $560.0M | — |
| Stockholders' EquityBook value | $1.2B | $4.8B |
| Total Assets | $3.7B | $8.4B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $98.3M | $267.0M | ||
| Q3 25 | — | $190.8M | ||
| Q2 25 | — | $176.2M | ||
| Q1 25 | — | $156.7M | ||
| Q4 24 | $561.8M | $260.9M | ||
| Q3 24 | — | $244.4M | ||
| Q2 24 | — | $140.7M | ||
| Q1 24 | — | $130.9M |
| Q4 25 | $560.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $608.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $4.8B | ||
| Q3 25 | $1.2B | $4.5B | ||
| Q2 25 | $1.4B | $4.4B | ||
| Q1 25 | $1.4B | $4.3B | ||
| Q4 24 | $1.4B | $4.3B | ||
| Q3 24 | $1.3B | $4.0B | ||
| Q2 24 | $1.3B | $4.0B | ||
| Q1 24 | $1.3B | $4.0B |
| Q4 25 | $3.7B | $8.4B | ||
| Q3 25 | $3.3B | $7.9B | ||
| Q2 25 | $3.4B | $7.6B | ||
| Q1 25 | $3.8B | $7.6B | ||
| Q4 24 | $4.1B | $7.7B | ||
| Q3 24 | $3.4B | $7.4B | ||
| Q2 24 | $3.3B | $7.2B | ||
| Q1 24 | $3.3B | $7.3B |
| Q4 25 | 0.45× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.2M | $28.3M |
| Free Cash FlowOCF − Capex | $-77.1M | $5.0M |
| FCF MarginFCF / Revenue | -23.4% | 0.4% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 21.5% | 1.9% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | -0.09× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $-56.1M | $275.3M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-6.2M | $28.3M | ||
| Q3 25 | $233.9M | $178.1M | ||
| Q2 25 | $299.3M | $94.8M | ||
| Q1 25 | $-350.0M | $46.0M | ||
| Q4 24 | $268.8M | $116.3M | ||
| Q3 24 | $-2.1M | $237.6M | ||
| Q2 24 | $304.4M | $52.0M | ||
| Q1 24 | $-239.6M | $1.1M |
| Q4 25 | $-77.1M | $5.0M | ||
| Q3 25 | $167.0M | $161.8M | ||
| Q2 25 | $250.5M | $78.0M | ||
| Q1 25 | $-396.6M | $30.5M | ||
| Q4 24 | $212.9M | $91.1M | ||
| Q3 24 | $-40.0M | $219.4M | ||
| Q2 24 | $275.8M | $33.7M | ||
| Q1 24 | $-266.4M | $-20.2M |
| Q4 25 | -23.4% | 0.4% | ||
| Q3 25 | 56.5% | 12.6% | ||
| Q2 25 | 46.8% | 6.4% | ||
| Q1 25 | -106.9% | 2.6% | ||
| Q4 24 | 63.1% | 7.3% | ||
| Q3 24 | -17.2% | 18.2% | ||
| Q2 24 | 56.0% | 2.8% | ||
| Q1 24 | -78.0% | -1.8% |
| Q4 25 | 21.5% | 1.9% | ||
| Q3 25 | 22.6% | 1.3% | ||
| Q2 25 | 9.1% | 1.4% | ||
| Q1 25 | 12.6% | 1.3% | ||
| Q4 24 | 16.6% | 2.0% | ||
| Q3 24 | 16.3% | 1.5% | ||
| Q2 24 | 5.8% | 1.5% | ||
| Q1 24 | 7.8% | 1.8% |
| Q4 25 | -0.09× | 0.26× | ||
| Q3 25 | 11.61× | 1.45× | ||
| Q2 25 | 38.10× | 2.58× | ||
| Q1 25 | -1232.46× | 1.93× | ||
| Q4 24 | 5.96× | 0.21× | ||
| Q3 24 | -0.08× | 3.28× | ||
| Q2 24 | 8.46× | — | ||
| Q1 24 | -42.94× | 0.01× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
ANDE
| Specialty And Primary Nutrients | $137.1M | 42% |
| Premium Ingredients | $66.1M | 20% |
| Segment Reporting Reconciling Item Other | $63.2M | 19% |
| Other | $63.1M | 19% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
