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Side-by-side financial comparison of TopBuild Corp (BLD) and Graham Holdings Co (GHC). Click either name above to swap in a different company.
TopBuild Corp is the larger business by last-quarter revenue ($1.5B vs $1.3B, roughly 1.2× Graham Holdings Co). Graham Holdings Co runs the higher net margin — 8.7% vs 7.0%, a 1.7% gap on every dollar of revenue. On growth, TopBuild Corp posted the faster year-over-year revenue change (13.2% vs 0.4%). TopBuild Corp produced more free cash flow last quarter ($159.4M vs $5.0M). Over the past eight quarters, TopBuild Corp's revenue compounded faster (7.8% CAGR vs 4.2%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
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.
BLD vs GHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.3B |
| Net Profit | $104.5M | $108.7M |
| Gross Margin | 27.2% | — |
| Operating Margin | 12.1% | 3.8% |
| Net Margin | 7.0% | 8.7% |
| Revenue YoY | 13.2% | 0.4% |
| Net Profit YoY | -30.6% | -80.2% |
| EPS (diluted) | $3.69 | $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 | $1.5B | $1.3B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.3B | $1.2B |
| Q4 25 | $104.5M | $108.7M | ||
| Q3 25 | $142.2M | $122.9M | ||
| Q2 25 | $151.6M | $36.7M | ||
| Q1 25 | $123.4M | $23.9M | ||
| Q4 24 | $150.5M | $548.8M | ||
| Q3 24 | $169.0M | $72.5M | ||
| Q2 24 | $150.7M | $-21.0M | ||
| Q1 24 | $152.4M | $124.4M |
| Q4 25 | 27.2% | — | ||
| Q3 25 | 30.1% | — | ||
| Q2 25 | 30.4% | — | ||
| Q1 25 | 28.5% | — | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 30.7% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 30.3% | — |
| Q4 25 | 12.1% | 3.8% | ||
| Q3 25 | 15.4% | 5.2% | ||
| Q2 25 | 16.9% | 6.0% | ||
| Q1 25 | 14.4% | 4.1% | ||
| Q4 24 | 16.6% | 5.8% | ||
| Q3 24 | 17.8% | 6.8% | ||
| Q2 24 | 15.4% | 2.2% | ||
| Q1 24 | 16.8% | 3.1% |
| Q4 25 | 7.0% | 8.7% | ||
| Q3 25 | 10.2% | 9.6% | ||
| Q2 25 | 11.7% | 3.0% | ||
| Q1 25 | 10.0% | 2.0% | ||
| Q4 24 | 11.5% | 44.1% | ||
| Q3 24 | 12.3% | 6.0% | ||
| Q2 24 | 11.0% | -1.8% | ||
| Q1 24 | 11.9% | 10.8% |
| Q4 25 | $3.69 | $24.76 | ||
| Q3 25 | $5.04 | $27.91 | ||
| Q2 25 | $5.32 | $8.35 | ||
| Q1 25 | $4.23 | $5.45 | ||
| Q4 24 | $5.07 | $124.05 | ||
| Q3 24 | $5.65 | $16.42 | ||
| Q2 24 | $4.78 | $-4.79 | ||
| Q1 24 | $4.79 | $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 | $184.7M | $267.0M |
| Total DebtLower is stronger | $2.8B | — |
| Stockholders' EquityBook value | $2.3B | $4.8B |
| Total Assets | $6.6B | $8.4B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.7M | $267.0M | ||
| Q3 25 | $1.1B | $190.8M | ||
| Q2 25 | $842.5M | $176.2M | ||
| Q1 25 | $308.8M | $156.7M | ||
| Q4 24 | $400.3M | $260.9M | ||
| Q3 24 | $257.3M | $244.4M | ||
| Q2 24 | $463.2M | $140.7M | ||
| Q1 24 | $968.8M | $130.9M |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $2.3B | $4.8B | ||
| Q3 25 | $2.2B | $4.5B | ||
| Q2 25 | $2.1B | $4.4B | ||
| Q1 25 | $2.1B | $4.3B | ||
| Q4 24 | $2.2B | $4.3B | ||
| Q3 24 | $2.1B | $4.0B | ||
| Q2 24 | $2.4B | $4.0B | ||
| Q1 24 | $2.7B | $4.0B |
| Q4 25 | $6.6B | $8.4B | ||
| Q3 25 | $6.4B | $7.9B | ||
| Q2 25 | $5.1B | $7.6B | ||
| Q1 25 | $4.6B | $7.6B | ||
| Q4 24 | $4.7B | $7.7B | ||
| Q3 24 | $4.7B | $7.4B | ||
| Q2 24 | $4.9B | $7.2B | ||
| Q1 24 | $5.3B | $7.3B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.52× | — |
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 | $176.7M | $28.3M |
| Free Cash FlowOCF − Capex | $159.4M | $5.0M |
| FCF MarginFCF / Revenue | 10.7% | 0.4% |
| Capex IntensityCapex / Revenue | 1.2% | 1.9% |
| Cash ConversionOCF / Net Profit | 1.69× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $696.9M | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $176.7M | $28.3M | ||
| Q3 25 | $233.3M | $178.1M | ||
| Q2 25 | $193.7M | $94.8M | ||
| Q1 25 | $152.6M | $46.0M | ||
| Q4 24 | $266.2M | $116.3M | ||
| Q3 24 | $240.7M | $237.6M | ||
| Q2 24 | $90.4M | $52.0M | ||
| Q1 24 | $178.8M | $1.1M |
| Q4 25 | $159.4M | $5.0M | ||
| Q3 25 | $216.2M | $161.8M | ||
| Q2 25 | $182.2M | $78.0M | ||
| Q1 25 | $139.2M | $30.5M | ||
| Q4 24 | $253.7M | $91.1M | ||
| Q3 24 | $219.8M | $219.4M | ||
| Q2 24 | $74.3M | $33.7M | ||
| Q1 24 | $158.9M | $-20.2M |
| Q4 25 | 10.7% | 0.4% | ||
| Q3 25 | 15.5% | 12.6% | ||
| Q2 25 | 14.0% | 6.4% | ||
| Q1 25 | 11.3% | 2.6% | ||
| Q4 24 | 19.3% | 7.3% | ||
| Q3 24 | 16.0% | 18.2% | ||
| Q2 24 | 5.4% | 2.8% | ||
| Q1 24 | 12.4% | -1.8% |
| Q4 25 | 1.2% | 1.9% | ||
| Q3 25 | 1.2% | 1.3% | ||
| Q2 25 | 0.9% | 1.4% | ||
| Q1 25 | 1.1% | 1.3% | ||
| Q4 24 | 1.0% | 2.0% | ||
| Q3 24 | 1.5% | 1.5% | ||
| Q2 24 | 1.2% | 1.5% | ||
| Q1 24 | 1.6% | 1.8% |
| Q4 25 | 1.69× | 0.26× | ||
| Q3 25 | 1.64× | 1.45× | ||
| Q2 25 | 1.28× | 2.58× | ||
| Q1 25 | 1.24× | 1.93× | ||
| Q4 24 | 1.77× | 0.21× | ||
| Q3 24 | 1.42× | 3.28× | ||
| Q2 24 | 0.60× | — | ||
| Q1 24 | 1.17× | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
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% |
