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Side-by-side financial comparison of Graham Holdings Co (GHC) and Qnity Electronics, Inc. (Q). Click either name above to swap in a different company.
Qnity Electronics, Inc. is the larger business by last-quarter revenue ($1.3B vs $1.3B, roughly 1.0× Graham Holdings Co). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs 8.7%, a 7.8% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (11.1% vs 0.4%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $5.0M).
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.
GHC vs Q — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.3B |
| Net Profit | $108.7M | $211.0M |
| Gross Margin | — | 45.1% |
| Operating Margin | 3.8% | 21.3% |
| Net Margin | 8.7% | 16.5% |
| Revenue YoY | 0.4% | 11.1% |
| Net Profit YoY | -80.2% | 6.0% |
| EPS (diluted) | $24.76 | $1.01 |
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 | $1.3B | — | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | $108.7M | — | ||
| Q3 25 | $122.9M | $211.0M | ||
| Q2 25 | $36.7M | — | ||
| Q1 25 | $23.9M | — | ||
| Q4 24 | $548.8M | — | ||
| Q3 24 | $72.5M | $199.0M | ||
| Q2 24 | $-21.0M | — | ||
| Q1 24 | $124.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 45.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 3.8% | — | ||
| Q3 25 | 5.2% | 21.3% | ||
| Q2 25 | 6.0% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 6.8% | 21.8% | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | 8.7% | — | ||
| Q3 25 | 9.6% | 16.5% | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 44.1% | — | ||
| Q3 24 | 6.0% | 17.3% | ||
| Q2 24 | -1.8% | — | ||
| Q1 24 | 10.8% | — |
| Q4 25 | $24.76 | — | ||
| Q3 25 | $27.91 | $1.01 | ||
| Q2 25 | $8.35 | — | ||
| Q1 25 | $5.45 | — | ||
| Q4 24 | $124.05 | — | ||
| Q3 24 | $16.42 | $0.95 | ||
| Q2 24 | $-4.79 | — | ||
| Q1 24 | $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 | $267.0M | $128.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $4.8B | $9.1B |
| Total Assets | $8.4B | $12.5B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $267.0M | — | ||
| Q3 25 | $190.8M | $128.0M | ||
| Q2 25 | $176.2M | — | ||
| Q1 25 | $156.7M | — | ||
| Q4 24 | $260.9M | — | ||
| Q3 24 | $244.4M | — | ||
| Q2 24 | $140.7M | — | ||
| Q1 24 | $130.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.5B | $9.1B | ||
| Q2 25 | $4.4B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.0B | $11.1B | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $4.0B | — |
| Q4 25 | $8.4B | — | ||
| Q3 25 | $7.9B | $12.5B | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $7.3B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $28.3M | $782.0M |
| Free Cash FlowOCF − Capex | $5.0M | $568.0M |
| FCF MarginFCF / Revenue | 0.4% | 44.5% |
| Capex IntensityCapex / Revenue | 1.9% | 16.8% |
| Cash ConversionOCF / Net Profit | 0.26× | 3.71× |
| TTM Free Cash FlowTrailing 4 quarters | $275.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.3M | — | ||
| Q3 25 | $178.1M | $782.0M | ||
| Q2 25 | $94.8M | — | ||
| Q1 25 | $46.0M | — | ||
| Q4 24 | $116.3M | — | ||
| Q3 24 | $237.6M | — | ||
| Q2 24 | $52.0M | — | ||
| Q1 24 | $1.1M | — |
| Q4 25 | $5.0M | — | ||
| Q3 25 | $161.8M | $568.0M | ||
| Q2 25 | $78.0M | — | ||
| Q1 25 | $30.5M | — | ||
| Q4 24 | $91.1M | — | ||
| Q3 24 | $219.4M | — | ||
| Q2 24 | $33.7M | — | ||
| Q1 24 | $-20.2M | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 12.6% | 44.5% | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 18.2% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | -1.8% | — |
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.3% | 16.8% | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.8% | — |
| Q4 25 | 0.26× | — | ||
| Q3 25 | 1.45× | 3.71× | ||
| Q2 25 | 2.58× | — | ||
| Q1 25 | 1.93× | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | 3.28× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.01× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
