vs
CHEGG, INC（CHGG）与Graham Holdings Co（GHC）财务数据对比。点击上方公司名可切换其他公司
Graham Holdings Co的季度营收约是CHEGG, INC的17.2倍（$1.3B vs $72.7M）。Graham Holdings Co同比增速更快（0.4% vs -49.4%）。Graham Holdings Co自由现金流更多（$5.0M vs $-15.5M）。过去两年Graham Holdings Co的营收复合增速更高（4.2% vs -35.4%）
Chegg是一家总部位于美国加利福尼亚州圣克拉拉的教育科技公司，依托人工智能技术，为学生提供作业辅导、数字及实体教材租赁、在线辅导等各类学生服务，目前拥有660万订阅用户，也因被指协助学生作弊、违反学术诚信而广受批评。
Graham Holdings是一家总部位于美国弗吉尼亚州阿灵顿县、在特拉华州注册的多元化综合控股集团，曾持有知名媒体《华盛顿邮报》与《新闻周刊》的所有权，旗下业务覆盖多个领域，在北美市场拥有深厚的行业运营积淀。
CHGG vs GHC — 直观对比
营收规模更大
GHC
是对方的17.2倍
$72.7M
营收增速更快
GHC
高出49.8%
-49.4%
自由现金流更多
GHC
多$20.5M
$-15.5M
两年增速更快
GHC
近两年复合增速
-35.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $72.7M | $1.3B |
| 净利润 | — | $108.7M |
| 毛利率 | 57.3% | — |
| 营业利润率 | -47.2% | 3.8% |
| 净利率 | — | 8.7% |
| 营收同比 | -49.4% | 0.4% |
| 净利润同比 | — | -80.2% |
| 每股收益（稀释后） | $-0.30 | $24.76 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CHGGGHC
| Q4 25 | $72.7M | $1.3B | ||
| Q3 25 | $77.7M | $1.3B | ||
| Q2 25 | $105.1M | $1.2B | ||
| Q1 25 | $121.4M | $1.2B | ||
| Q4 24 | $143.5M | $1.2B | ||
| Q3 24 | $136.6M | $1.2B | ||
| Q2 24 | $163.1M | $1.2B | ||
| Q1 24 | $174.3M | $1.2B |
净利润CHGGGHC
| Q4 25 | — | $108.7M | ||
| Q3 25 | $-17.5M | $122.9M | ||
| Q2 25 | $-35.7M | $36.7M | ||
| Q1 25 | $-17.5M | $23.9M | ||
| Q4 24 | — | $548.8M | ||
| Q3 24 | $-212.6M | $72.5M | ||
| Q2 24 | $-616.9M | $-21.0M | ||
| Q1 24 | $-1.4M | $124.4M |
毛利率CHGGGHC
| Q4 25 | 57.3% | — | ||
| Q3 25 | 59.2% | — | ||
| Q2 25 | 66.3% | — | ||
| Q1 25 | 55.5% | — | ||
| Q4 24 | 68.2% | — | ||
| Q3 24 | 68.2% | — | ||
| Q2 24 | 72.2% | — | ||
| Q1 24 | 73.3% | — |
营业利润率CHGGGHC
| Q4 25 | -47.2% | 3.8% | ||
| Q3 25 | -22.0% | 5.2% | ||
| Q2 25 | -34.7% | 6.0% | ||
| Q1 25 | -23.9% | 4.1% | ||
| Q4 24 | -19.0% | 5.8% | ||
| Q3 24 | -162.7% | 6.8% | ||
| Q2 24 | -297.3% | 2.2% | ||
| Q1 24 | -1.4% | 3.1% |
净利率CHGGGHC
| Q4 25 | — | 8.7% | ||
| Q3 25 | -22.5% | 9.6% | ||
| Q2 25 | -33.9% | 3.0% | ||
| Q1 25 | -14.4% | 2.0% | ||
| Q4 24 | — | 44.1% | ||
| Q3 24 | -155.7% | 6.0% | ||
| Q2 24 | -378.1% | -1.8% | ||
| Q1 24 | -0.8% | 10.8% |
每股收益（稀释后）CHGGGHC
| Q4 25 | $-0.30 | $24.76 | ||
| Q3 25 | $-0.16 | $27.91 | ||
| Q2 25 | $-0.33 | $8.35 | ||
| Q1 25 | $-0.17 | $5.45 | ||
| Q4 24 | $-0.03 | $124.05 | ||
| Q3 24 | $-2.05 | $16.42 | ||
| Q2 24 | $-6.01 | $-4.79 | ||
| Q1 24 | $-0.01 | $27.72 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $72.8M | $267.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $119.6M | $4.8B |
| 总资产 | $278.0M | $8.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CHGGGHC
| Q4 25 | $72.8M | $267.0M | ||
| Q3 25 | $96.4M | $190.8M | ||
| Q2 25 | $85.6M | $176.2M | ||
| Q1 25 | $88.3M | $156.7M | ||
| Q4 24 | $315.7M | $260.9M | ||
| Q3 24 | $361.1M | $244.4M | ||
| Q2 24 | $345.5M | $140.7M | ||
| Q1 24 | $390.8M | $130.9M |
股东权益CHGGGHC
| Q4 25 | $119.6M | $4.8B | ||
| Q3 25 | $146.1M | $4.5B | ||
| Q2 25 | $157.9M | $4.4B | ||
| Q1 25 | $185.7M | $4.3B | ||
| Q4 24 | $193.0M | $4.3B | ||
| Q3 24 | $185.0M | $4.0B | ||
| Q2 24 | $365.5M | $4.0B | ||
| Q1 24 | $963.5M | $4.0B |
总资产CHGGGHC
| Q4 25 | $278.0M | $8.4B | ||
| Q3 25 | $378.3M | $7.9B | ||
| Q2 25 | $404.5M | $7.6B | ||
| Q1 25 | $438.8M | $7.6B | ||
| Q4 24 | $869.0M | $7.7B | ||
| Q3 24 | $1.0B | $7.4B | ||
| Q2 24 | $1.1B | $7.2B | ||
| Q1 24 | $1.7B | $7.3B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-9.0M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $-15.5M | $5.0M |
| 自由现金流率自由现金流/营收 | -21.3% | 0.4% |
| 资本支出强度资本支出/营收 | 8.9% | 1.9% |
| 现金转化率经营现金流/净利润 | — | 0.26× |
| 过去12个月自由现金流最近4个季度 | $-12.6M | $275.3M |
8季度趋势，按日历期对齐
经营现金流CHGGGHC
| Q4 25 | $-9.0M | $28.3M | ||
| Q3 25 | $4.8M | $178.1M | ||
| Q2 25 | $-4.8M | $94.8M | ||
| Q1 25 | $24.5M | $46.0M | ||
| Q4 24 | $18.1M | $116.3M | ||
| Q3 24 | $39.5M | $237.6M | ||
| Q2 24 | $14.2M | $52.0M | ||
| Q1 24 | $53.3M | $1.1M |
自由现金流CHGGGHC
| Q4 25 | $-15.5M | $5.0M | ||
| Q3 25 | $-943.0K | $161.8M | ||
| Q2 25 | $-12.1M | $78.0M | ||
| Q1 25 | $15.9M | $30.5M | ||
| Q4 24 | $4.8M | $91.1M | ||
| Q3 24 | $23.7M | $219.4M | ||
| Q2 24 | $-3.6M | $33.7M | ||
| Q1 24 | $25.3M | $-20.2M |
自由现金流率CHGGGHC
| Q4 25 | -21.3% | 0.4% | ||
| Q3 25 | -1.2% | 12.6% | ||
| Q2 25 | -11.5% | 6.4% | ||
| Q1 25 | 13.1% | 2.6% | ||
| Q4 24 | 3.4% | 7.3% | ||
| Q3 24 | 17.3% | 18.2% | ||
| Q2 24 | -2.2% | 2.8% | ||
| Q1 24 | 14.5% | -1.8% |
资本支出强度CHGGGHC
| Q4 25 | 8.9% | 1.9% | ||
| Q3 25 | 7.4% | 1.3% | ||
| Q2 25 | 6.9% | 1.4% | ||
| Q1 25 | 7.1% | 1.3% | ||
| Q4 24 | 9.3% | 2.0% | ||
| Q3 24 | 11.6% | 1.5% | ||
| Q2 24 | 10.9% | 1.5% | ||
| Q1 24 | 16.1% | 1.8% |
现金转化率CHGGGHC
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 2.58× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 3.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.01× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CHGG
暂无分部数据
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% |
