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Side-by-side financial comparison of Elanco Animal Health Inc (ELAN) 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 $1.1B, roughly 1.1× Elanco Animal Health Inc). Graham Holdings Co runs the higher net margin — 8.7% vs -24.1%, a 32.8% gap on every dollar of revenue. On growth, Elanco Animal Health Inc posted the faster year-over-year revenue change (12.2% vs 0.4%). Elanco Animal Health Inc produced more free cash flow last quarter ($46.0M vs $5.0M). Over the past eight quarters, Graham Holdings Co's revenue compounded faster (4.2% CAGR vs -2.6%).
Elanco Animal Health Incorporated is an American pharmaceutical company which produces medicines and vaccinations for pets and livestock. Until 2019, the company was a subsidiary of Eli Lilly and Company, before being divested. It is the third-largest animal health company in the world.
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.
ELAN vs GHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.3B |
| Net Profit | $-276.0M | $108.7M |
| Gross Margin | 51.5% | — |
| Operating Margin | -22.6% | 3.8% |
| Net Margin | -24.1% | 8.7% |
| Revenue YoY | 12.2% | 0.4% |
| Net Profit YoY | -3350.0% | -80.2% |
| EPS (diluted) | $-0.55 | $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 | $1.1B | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.2B | $1.2B |
| Q4 25 | $-276.0M | $108.7M | ||
| Q3 25 | $-34.0M | $122.9M | ||
| Q2 25 | $11.0M | $36.7M | ||
| Q1 25 | $67.0M | $23.9M | ||
| Q4 24 | $-8.0M | $548.8M | ||
| Q3 24 | $364.0M | $72.5M | ||
| Q2 24 | $-50.0M | $-21.0M | ||
| Q1 24 | $32.0M | $124.4M |
| Q4 25 | 51.5% | — | ||
| Q3 25 | 53.4% | — | ||
| Q2 25 | 57.5% | — | ||
| Q1 25 | 57.3% | — | ||
| Q4 24 | 50.9% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 58.2% | — | ||
| Q1 24 | 57.3% | — |
| Q4 25 | -22.6% | 3.8% | ||
| Q3 25 | -4.4% | 5.2% | ||
| Q2 25 | 2.0% | 6.0% | ||
| Q1 25 | 5.0% | 4.1% | ||
| Q4 24 | -5.0% | 5.8% | ||
| Q3 24 | 54.3% | 6.8% | ||
| Q2 24 | -2.7% | 2.2% | ||
| Q1 24 | 1.0% | 3.1% |
| Q4 25 | -24.1% | 8.7% | ||
| Q3 25 | -3.0% | 9.6% | ||
| Q2 25 | 0.9% | 3.0% | ||
| Q1 25 | 5.6% | 2.0% | ||
| Q4 24 | -0.8% | 44.1% | ||
| Q3 24 | 35.3% | 6.0% | ||
| Q2 24 | -4.2% | -1.8% | ||
| Q1 24 | 2.7% | 10.8% |
| Q4 25 | $-0.55 | $24.76 | ||
| Q3 25 | $-0.07 | $27.91 | ||
| Q2 25 | $0.02 | $8.35 | ||
| Q1 25 | $0.13 | $5.45 | ||
| Q4 24 | $-0.01 | $124.05 | ||
| Q3 24 | $0.73 | $16.42 | ||
| Q2 24 | $-0.10 | $-4.79 | ||
| Q1 24 | $0.06 | $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 | $545.0M | $267.0M |
| Total DebtLower is stronger | $3.9B | — |
| Stockholders' EquityBook value | $6.5B | $4.8B |
| Total Assets | $13.4B | $8.4B |
| Debt / EquityLower = less leverage | 0.60× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $545.0M | $267.0M | ||
| Q3 25 | $505.0M | $190.8M | ||
| Q2 25 | $539.0M | $176.2M | ||
| Q1 25 | $487.0M | $156.7M | ||
| Q4 24 | $468.0M | $260.9M | ||
| Q3 24 | $490.0M | $244.4M | ||
| Q2 24 | $416.0M | $140.7M | ||
| Q1 24 | $345.0M | $130.9M |
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.8B | — |
| Q4 25 | $6.5B | $4.8B | ||
| Q3 25 | $6.7B | $4.5B | ||
| Q2 25 | $6.8B | $4.4B | ||
| Q1 25 | $6.4B | $4.3B | ||
| Q4 24 | $6.1B | $4.3B | ||
| Q3 24 | $6.5B | $4.0B | ||
| Q2 24 | $5.9B | $4.0B | ||
| Q1 24 | $6.1B | $4.0B |
| Q4 25 | $13.4B | $8.4B | ||
| Q3 25 | $13.6B | $7.9B | ||
| Q2 25 | $13.7B | $7.6B | ||
| Q1 25 | $12.9B | $7.6B | ||
| Q4 24 | $12.6B | $7.7B | ||
| Q3 24 | $13.3B | $7.4B | ||
| Q2 24 | $13.8B | $7.2B | ||
| Q1 24 | $14.0B | $7.3B |
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.95× | — |
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 | $108.0M | $28.3M |
| Free Cash FlowOCF − Capex | $46.0M | $5.0M |
| FCF MarginFCF / Revenue | 4.0% | 0.4% |
| Capex IntensityCapex / Revenue | 5.4% | 1.9% |
| Cash ConversionOCF / Net Profit | — | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $284.0M | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.0M | $28.3M | ||
| Q3 25 | $219.0M | $178.1M | ||
| Q2 25 | $237.0M | $94.8M | ||
| Q1 25 | $-4.0M | $46.0M | ||
| Q4 24 | $177.0M | $116.3M | ||
| Q3 24 | $162.0M | $237.6M | ||
| Q2 24 | $200.0M | $52.0M | ||
| Q1 24 | $2.0M | $1.1M |
| Q4 25 | $46.0M | $5.0M | ||
| Q3 25 | $127.0M | $161.8M | ||
| Q2 25 | $180.0M | $78.0M | ||
| Q1 25 | $-69.0M | $30.5M | ||
| Q4 24 | $130.0M | $91.1M | ||
| Q3 24 | $120.0M | $219.4M | ||
| Q2 24 | $166.0M | $33.7M | ||
| Q1 24 | $-22.0M | $-20.2M |
| Q4 25 | 4.0% | 0.4% | ||
| Q3 25 | 11.2% | 12.6% | ||
| Q2 25 | 14.5% | 6.4% | ||
| Q1 25 | -5.8% | 2.6% | ||
| Q4 24 | 12.7% | 7.3% | ||
| Q3 24 | 11.7% | 18.2% | ||
| Q2 24 | 14.0% | 2.8% | ||
| Q1 24 | -1.8% | -1.8% |
| Q4 25 | 5.4% | 1.9% | ||
| Q3 25 | 8.1% | 1.3% | ||
| Q2 25 | 4.6% | 1.4% | ||
| Q1 25 | 5.4% | 1.3% | ||
| Q4 24 | 4.6% | 2.0% | ||
| Q3 24 | 4.1% | 1.5% | ||
| Q2 24 | 2.9% | 1.5% | ||
| Q1 24 | 2.0% | 1.8% |
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | 21.55× | 2.58× | ||
| Q1 25 | -0.06× | 1.93× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | 0.45× | 3.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.06× | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
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% |
