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Side-by-side financial comparison of AvalonBay Communities (AVB) and Graham Holdings Co (GHC). Click either name above to swap in a different company.
Graham Holdings Co is the larger business by last-quarter revenue ($1.3B vs $767.9M, roughly 1.6× AvalonBay Communities). AvalonBay Communities runs the higher net margin — 9040.6% vs 8.7%, a 9031.9% gap on every dollar of revenue. On growth, AvalonBay Communities posted the faster year-over-year revenue change (3.7% vs 0.4%). AvalonBay Communities produced more free cash flow last quarter ($1.4B vs $5.0M). Over the past eight quarters, Graham Holdings Co's revenue compounded faster (4.2% CAGR vs 3.8%).
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
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.
AVB vs GHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $767.9M | $1.3B |
| Net Profit | $166.0M | $108.7M |
| Gross Margin | — | — |
| Operating Margin | 64.2% | 3.8% |
| Net Margin | 9040.6% | 8.7% |
| Revenue YoY | 3.7% | 0.4% |
| Net Profit YoY | -41.2% | -80.2% |
| EPS (diluted) | $1.18 | $24.76 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $767.9M | $1.3B | ||
| Q3 25 | $766.8M | $1.3B | ||
| Q2 25 | $760.2M | $1.2B | ||
| Q1 25 | $745.9M | $1.2B | ||
| Q4 24 | $740.5M | $1.2B | ||
| Q3 24 | $734.3M | $1.2B | ||
| Q2 24 | $726.0M | $1.2B | ||
| Q1 24 | $712.9M | $1.2B |
| Q4 25 | $166.0M | $108.7M | ||
| Q3 25 | $381.3M | $122.9M | ||
| Q2 25 | $268.7M | $36.7M | ||
| Q1 25 | $236.6M | $23.9M | ||
| Q4 24 | $282.1M | $548.8M | ||
| Q3 24 | $372.5M | $72.5M | ||
| Q2 24 | $253.9M | $-21.0M | ||
| Q1 24 | $173.4M | $124.4M |
| Q4 25 | 64.2% | 3.8% | ||
| Q3 25 | 65.7% | 5.2% | ||
| Q2 25 | 67.6% | 6.0% | ||
| Q1 25 | 68.5% | 4.1% | ||
| Q4 24 | 63.1% | 5.8% | ||
| Q3 24 | 65.4% | 6.8% | ||
| Q2 24 | 66.6% | 2.2% | ||
| Q1 24 | 67.2% | 3.1% |
| Q4 25 | 9040.6% | 8.7% | ||
| Q3 25 | 49.7% | 9.6% | ||
| Q2 25 | 35.3% | 3.0% | ||
| Q1 25 | 31.7% | 2.0% | ||
| Q4 24 | 38.1% | 44.1% | ||
| Q3 24 | 50.7% | 6.0% | ||
| Q2 24 | 35.0% | -1.8% | ||
| Q1 24 | 24.3% | 10.8% |
| Q4 25 | $1.18 | $24.76 | ||
| Q3 25 | $2.68 | $27.91 | ||
| Q2 25 | $1.88 | $8.35 | ||
| Q1 25 | $1.66 | $5.45 | ||
| Q4 24 | $1.99 | $124.05 | ||
| Q3 24 | $2.61 | $16.42 | ||
| Q2 24 | $1.78 | $-4.79 | ||
| Q1 24 | $1.22 | $27.72 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $187.2M | $267.0M |
| Total DebtLower is stronger | $9.3B | — |
| Stockholders' EquityBook value | $11.6B | $4.8B |
| Total Assets | $22.2B | $8.4B |
| Debt / EquityLower = less leverage | 0.80× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $267.0M | ||
| Q3 25 | $123.3M | $190.8M | ||
| Q2 25 | $102.8M | $176.2M | ||
| Q1 25 | $53.3M | $156.7M | ||
| Q4 24 | $108.6M | $260.9M | ||
| Q3 24 | $552.4M | $244.4M | ||
| Q2 24 | $545.8M | $140.7M | ||
| Q1 24 | $287.9M | $130.9M |
| Q4 25 | $9.3B | — | ||
| Q3 25 | $8.7B | — | ||
| Q2 25 | $8.7B | — | ||
| Q1 25 | $8.3B | — | ||
| Q4 24 | $8.1B | — | ||
| Q3 24 | $8.4B | — | ||
| Q2 24 | $8.4B | — | ||
| Q1 24 | $8.0B | — |
| Q4 25 | $11.6B | $4.8B | ||
| Q3 25 | $11.9B | $4.5B | ||
| Q2 25 | $11.9B | $4.4B | ||
| Q1 25 | $11.9B | $4.3B | ||
| Q4 24 | $11.9B | $4.3B | ||
| Q3 24 | $11.9B | $4.0B | ||
| Q2 24 | $11.7B | $4.0B | ||
| Q1 24 | $11.7B | $4.0B |
| Q4 25 | $22.2B | $8.4B | ||
| Q3 25 | $21.9B | $7.9B | ||
| Q2 25 | $21.8B | $7.6B | ||
| Q1 25 | $21.2B | $7.6B | ||
| Q4 24 | $21.0B | $7.7B | ||
| Q3 24 | $21.3B | $7.4B | ||
| Q2 24 | $21.0B | $7.2B | ||
| Q1 24 | $20.6B | $7.3B |
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.68× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7B | $28.3M |
| Free Cash FlowOCF − Capex | $1.4B | $5.0M |
| FCF MarginFCF / Revenue | 183.5% | 0.4% |
| Capex IntensityCapex / Revenue | 34.1% | 1.9% |
| Cash ConversionOCF / Net Profit | 10.07× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $28.3M | ||
| Q3 25 | $477.0M | $178.1M | ||
| Q2 25 | $377.8M | $94.8M | ||
| Q1 25 | $415.9M | $46.0M | ||
| Q4 24 | $1.6B | $116.3M | ||
| Q3 24 | $486.2M | $237.6M | ||
| Q2 24 | $380.0M | $52.0M | ||
| Q1 24 | $412.9M | $1.1M |
| Q4 25 | $1.4B | $5.0M | ||
| Q3 25 | $402.2M | $161.8M | ||
| Q2 25 | $317.1M | $78.0M | ||
| Q1 25 | $367.5M | $30.5M | ||
| Q4 24 | $1.4B | $91.1M | ||
| Q3 24 | $434.2M | $219.4M | ||
| Q2 24 | $333.0M | $33.7M | ||
| Q1 24 | $375.4M | $-20.2M |
| Q4 25 | 183.5% | 0.4% | ||
| Q3 25 | 52.5% | 12.6% | ||
| Q2 25 | 41.7% | 6.4% | ||
| Q1 25 | 49.3% | 2.6% | ||
| Q4 24 | 191.0% | 7.3% | ||
| Q3 24 | 59.1% | 18.2% | ||
| Q2 24 | 45.9% | 2.8% | ||
| Q1 24 | 52.7% | -1.8% |
| Q4 25 | 34.1% | 1.9% | ||
| Q3 25 | 9.8% | 1.3% | ||
| Q2 25 | 8.0% | 1.4% | ||
| Q1 25 | 6.5% | 1.3% | ||
| Q4 24 | 26.1% | 2.0% | ||
| Q3 24 | 7.1% | 1.5% | ||
| Q2 24 | 6.5% | 1.5% | ||
| Q1 24 | 5.3% | 1.8% |
| Q4 25 | 10.07× | 0.26× | ||
| Q3 25 | 1.25× | 1.45× | ||
| Q2 25 | 1.41× | 2.58× | ||
| Q1 25 | 1.76× | 1.93× | ||
| Q4 24 | 5.70× | 0.21× | ||
| Q3 24 | 1.31× | 3.28× | ||
| Q2 24 | 1.50× | — | ||
| Q1 24 | 2.38× | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVB
Segment breakdown not available.
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% |
