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Side-by-side financial comparison of Graham Holdings Co (GHC) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
Workday, Inc. is the larger business by last-quarter revenue ($2.4B vs $1.3B, roughly 1.9× Graham Holdings Co). Workday, Inc. runs the higher net margin — 10.4% vs 8.7%, a 1.7% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs 0.4%). Workday, Inc. produced more free cash flow last quarter ($550.0M vs $5.0M). Over the past eight quarters, Workday, Inc.'s revenue compounded faster (12.5% CAGR vs 4.2%).
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.
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
GHC vs WDAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $2.4B |
| Net Profit | $108.7M | $252.0M |
| Gross Margin | — | — |
| Operating Margin | 3.8% | 10.6% |
| Net Margin | 8.7% | 10.4% |
| Revenue YoY | 0.4% | 12.6% |
| Net Profit YoY | -80.2% | 30.6% |
| EPS (diluted) | $24.76 | $0.94 |
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 | $2.4B | ||
| Q3 25 | $1.3B | $2.3B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $1.2B | $2.2B | ||
| Q4 24 | $1.2B | $2.2B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.2B | $2.0B | ||
| Q1 24 | $1.2B | $1.9B |
| Q4 25 | $108.7M | $252.0M | ||
| Q3 25 | $122.9M | $228.0M | ||
| Q2 25 | $36.7M | $68.0M | ||
| Q1 25 | $23.9M | $94.0M | ||
| Q4 24 | $548.8M | $193.0M | ||
| Q3 24 | $72.5M | $132.0M | ||
| Q2 24 | $-21.0M | $107.0M | ||
| Q1 24 | $124.4M | $1.2B |
| Q4 25 | 3.8% | 10.6% | ||
| Q3 25 | 5.2% | 10.6% | ||
| Q2 25 | 6.0% | 1.7% | ||
| Q1 25 | 4.1% | 3.4% | ||
| Q4 24 | 5.8% | 7.6% | ||
| Q3 24 | 6.8% | 5.3% | ||
| Q2 24 | 2.2% | 3.2% | ||
| Q1 24 | 3.1% | 4.1% |
| Q4 25 | 8.7% | 10.4% | ||
| Q3 25 | 9.6% | 9.7% | ||
| Q2 25 | 3.0% | 3.0% | ||
| Q1 25 | 2.0% | 4.3% | ||
| Q4 24 | 44.1% | 8.9% | ||
| Q3 24 | 6.0% | 6.3% | ||
| Q2 24 | -1.8% | 5.4% | ||
| Q1 24 | 10.8% | 61.8% |
| Q4 25 | $24.76 | $0.94 | ||
| Q3 25 | $27.91 | $0.84 | ||
| Q2 25 | $8.35 | $0.25 | ||
| Q1 25 | $5.45 | $0.34 | ||
| Q4 24 | $124.05 | $0.72 | ||
| Q3 24 | $16.42 | $0.49 | ||
| Q2 24 | $-4.79 | $0.40 | ||
| Q1 24 | $27.72 | $4.48 |
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 | $6.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.8B | $8.9B |
| Total Assets | $8.4B | $17.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $267.0M | $6.8B | ||
| Q3 25 | $190.8M | $8.2B | ||
| Q2 25 | $176.2M | $8.0B | ||
| Q1 25 | $156.7M | $8.0B | ||
| Q4 24 | $260.9M | $7.2B | ||
| Q3 24 | $244.4M | $7.4B | ||
| Q2 24 | $140.7M | $7.2B | ||
| Q1 24 | $130.9M | $7.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
| Q4 25 | $4.8B | $8.9B | ||
| Q3 25 | $4.5B | $9.2B | ||
| Q2 25 | $4.4B | $8.9B | ||
| Q1 25 | $4.3B | $9.0B | ||
| Q4 24 | $4.3B | $8.6B | ||
| Q3 24 | $4.0B | $8.3B | ||
| Q2 24 | $4.0B | $8.2B | ||
| Q1 24 | $4.0B | $8.1B |
| Q4 25 | $8.4B | $17.8B | ||
| Q3 25 | $7.9B | $18.0B | ||
| Q2 25 | $7.6B | $17.2B | ||
| Q1 25 | $7.6B | $18.0B | ||
| Q4 24 | $7.7B | $16.4B | ||
| Q3 24 | $7.4B | $16.2B | ||
| Q2 24 | $7.2B | $15.9B | ||
| Q1 24 | $7.3B | $16.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.37× |
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 | $588.0M |
| Free Cash FlowOCF − Capex | $5.0M | $550.0M |
| FCF MarginFCF / Revenue | 0.4% | 22.6% |
| Capex IntensityCapex / Revenue | 1.9% | 1.6% |
| Cash ConversionOCF / Net Profit | 0.26× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $275.3M | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.3M | $588.0M | ||
| Q3 25 | $178.1M | $616.0M | ||
| Q2 25 | $94.8M | $457.0M | ||
| Q1 25 | $46.0M | $1.1B | ||
| Q4 24 | $116.3M | $406.0M | ||
| Q3 24 | $237.6M | $571.0M | ||
| Q2 24 | $52.0M | $372.0M | ||
| Q1 24 | $1.1M | $995.6M |
| Q4 25 | $5.0M | $550.0M | ||
| Q3 25 | $161.8M | $588.0M | ||
| Q2 25 | $78.0M | $421.0M | ||
| Q1 25 | $30.5M | $1.0B | ||
| Q4 24 | $91.1M | $359.0M | ||
| Q3 24 | $219.4M | $516.0M | ||
| Q2 24 | $33.7M | $291.0M | ||
| Q1 24 | $-20.2M | $947.6M |
| Q4 25 | 0.4% | 22.6% | ||
| Q3 25 | 12.6% | 25.0% | ||
| Q2 25 | 6.4% | 18.8% | ||
| Q1 25 | 2.6% | 46.4% | ||
| Q4 24 | 7.3% | 16.6% | ||
| Q3 24 | 18.2% | 24.7% | ||
| Q2 24 | 2.8% | 14.6% | ||
| Q1 24 | -1.8% | 49.3% |
| Q4 25 | 1.9% | 1.6% | ||
| Q3 25 | 1.3% | 1.2% | ||
| Q2 25 | 1.4% | 1.6% | ||
| Q1 25 | 1.3% | 3.9% | ||
| Q4 24 | 2.0% | 2.2% | ||
| Q3 24 | 1.5% | 2.6% | ||
| Q2 24 | 1.5% | 4.1% | ||
| Q1 24 | 1.8% | 2.5% |
| Q4 25 | 0.26× | 2.33× | ||
| Q3 25 | 1.45× | 2.70× | ||
| Q2 25 | 2.58× | 6.72× | ||
| Q1 25 | 1.93× | 11.83× | ||
| Q4 24 | 0.21× | 2.10× | ||
| Q3 24 | 3.28× | 4.33× | ||
| Q2 24 | — | 3.48× | ||
| Q1 24 | 0.01× | 0.84× |
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
