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Graham Holdings Co（GHC）与IES Holdings, Inc.（IESC）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IES Holdings, Inc.的1.4倍（$1.3B vs $871.0M），IES Holdings, Inc.净利率更高（10.5% vs 8.7%，领先1.8%），IES Holdings, Inc.同比增速更快（16.2% vs 0.4%），Graham Holdings Co自由现金流更多（$5.0M vs $-18.9M），过去两年IES Holdings, Inc.的营收复合增速更高（11.1% vs 4.2%）
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。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
GHC vs IESC — 直观对比
营收规模更大
GHC
是对方的1.4倍
$871.0M
营收增速更快
IESC
高出15.8%
0.4%
净利率更高
IESC
高出1.8%
8.7%
自由现金流更多
GHC
多$23.9M
$-18.9M
两年增速更快
IESC
近两年复合增速
4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $871.0M |
| 净利润 | $108.7M | $91.8M |
| 毛利率 | — | 25.3% |
| 营业利润率 | 3.8% | 11.2% |
| 净利率 | 8.7% | 10.5% |
| 营收同比 | 0.4% | 16.2% |
| 净利润同比 | -80.2% | 59.1% |
| 每股收益（稀释后） | $24.76 | $4.51 |
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GHCIESC
| Q4 25 | $1.3B | $871.0M | ||
| Q3 25 | $1.3B | $897.8M | ||
| Q2 25 | $1.2B | $890.2M | ||
| Q1 25 | $1.2B | $834.0M | ||
| Q4 24 | $1.2B | $749.5M | ||
| Q3 24 | $1.2B | $775.8M | ||
| Q2 24 | $1.2B | $768.4M | ||
| Q1 24 | $1.2B | $705.7M |
净利润GHCIESC
| Q4 25 | $108.7M | $91.8M | ||
| Q3 25 | $122.9M | $102.3M | ||
| Q2 25 | $36.7M | $79.3M | ||
| Q1 25 | $23.9M | $72.6M | ||
| Q4 24 | $548.8M | $57.7M | ||
| Q3 24 | $72.5M | $65.5M | ||
| Q2 24 | $-21.0M | $66.6M | ||
| Q1 24 | $124.4M | $56.8M |
毛利率GHCIESC
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.0% | ||
| Q2 25 | — | 26.9% | ||
| Q1 25 | — | 25.0% | ||
| Q4 24 | — | 23.8% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 25.3% | ||
| Q1 24 | — | 24.3% |
营业利润率GHCIESC
| Q4 25 | 3.8% | 11.2% | ||
| Q3 25 | 5.2% | 11.6% | ||
| Q2 25 | 6.0% | 12.6% | ||
| Q1 25 | 4.1% | 11.1% | ||
| Q4 24 | 5.8% | 10.0% | ||
| Q3 24 | 6.8% | 9.7% | ||
| Q2 24 | 2.2% | 11.7% | ||
| Q1 24 | 3.1% | 11.0% |
净利率GHCIESC
| Q4 25 | 8.7% | 10.5% | ||
| Q3 25 | 9.6% | 11.4% | ||
| Q2 25 | 3.0% | 8.9% | ||
| Q1 25 | 2.0% | 8.7% | ||
| Q4 24 | 44.1% | 7.7% | ||
| Q3 24 | 6.0% | 8.4% | ||
| Q2 24 | -1.8% | 8.7% | ||
| Q1 24 | 10.8% | 8.0% |
每股收益（稀释后）GHCIESC
| Q4 25 | $24.76 | $4.51 | ||
| Q3 25 | $27.91 | $4.99 | ||
| Q2 25 | $8.35 | $3.81 | ||
| Q1 25 | $5.45 | $3.50 | ||
| Q4 24 | $124.05 | $2.72 | ||
| Q3 24 | $16.42 | $3.06 | ||
| Q2 24 | $-4.79 | $2.67 | ||
| Q1 24 | $27.72 | $2.29 |
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 | $267.0M | $258.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.8B | $961.1M |
| 总资产 | $8.4B | $1.7B |
| 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GHCIESC
| Q4 25 | $267.0M | $258.7M | ||
| Q3 25 | $190.8M | $231.8M | ||
| Q2 25 | $176.2M | $168.3M | ||
| Q1 25 | $156.7M | $88.3M | ||
| Q4 24 | $260.9M | $112.0M | ||
| Q3 24 | $244.4M | $135.8M | ||
| Q2 24 | $140.7M | $44.9M | ||
| Q1 24 | $130.9M | $106.0M |
股东权益GHCIESC
| Q4 25 | $4.8B | $961.1M | ||
| Q3 25 | $4.5B | $884.0M | ||
| Q2 25 | $4.4B | $781.4M | ||
| Q1 25 | $4.3B | $705.8M | ||
| Q4 24 | $4.3B | $652.4M | ||
| Q3 24 | $4.0B | $611.1M | ||
| Q2 24 | $4.0B | $567.5M | ||
| Q1 24 | $4.0B | $534.8M |
总资产GHCIESC
| Q4 25 | $8.4B | $1.7B | ||
| Q3 25 | $7.9B | $1.6B | ||
| Q2 25 | $7.6B | $1.5B | ||
| Q1 25 | $7.6B | $1.4B | ||
| Q4 24 | $7.7B | $1.3B | ||
| Q3 24 | $7.4B | $1.2B | ||
| Q2 24 | $7.2B | $1.2B | ||
| Q1 24 | $7.3B | $1.1B |
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 | $28.3M | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $5.0M | $-18.9M |
| 自由现金流率自由现金流/营收 | 0.4% | -2.2% |
| 资本支出强度资本支出/营收 | 1.9% | 5.3% |
| 现金转化率经营现金流/净利润 | 0.26× | 0.30× |
| 过去12个月自由现金流最近4个季度 | $275.3M | $175.9M |
8季度趋势，按日历期对齐
经营现金流GHCIESC
| Q4 25 | $28.3M | $27.7M | ||
| Q3 25 | $178.1M | $132.0M | ||
| Q2 25 | $94.8M | $92.0M | ||
| Q1 25 | $46.0M | $24.8M | ||
| Q4 24 | $116.3M | $37.3M | ||
| Q3 24 | $237.6M | $92.8M | ||
| Q2 24 | $52.0M | $82.9M | ||
| Q1 24 | $1.1M | $33.7M |
自由现金流GHCIESC
| Q4 25 | $5.0M | $-18.9M | ||
| Q3 25 | $161.8M | $112.0M | ||
| Q2 25 | $78.0M | $74.8M | ||
| Q1 25 | $30.5M | $7.9M | ||
| Q4 24 | $91.1M | $24.1M | ||
| Q3 24 | $219.4M | $78.5M | ||
| Q2 24 | $33.7M | $65.4M | ||
| Q1 24 | $-20.2M | $26.9M |
自由现金流率GHCIESC
| Q4 25 | 0.4% | -2.2% | ||
| Q3 25 | 12.6% | 12.5% | ||
| Q2 25 | 6.4% | 8.4% | ||
| Q1 25 | 2.6% | 0.9% | ||
| Q4 24 | 7.3% | 3.2% | ||
| Q3 24 | 18.2% | 10.1% | ||
| Q2 24 | 2.8% | 8.5% | ||
| Q1 24 | -1.8% | 3.8% |
资本支出强度GHCIESC
| Q4 25 | 1.9% | 5.3% | ||
| Q3 25 | 1.3% | 2.2% | ||
| Q2 25 | 1.4% | 1.9% | ||
| Q1 25 | 1.3% | 2.0% | ||
| Q4 24 | 2.0% | 1.8% | ||
| Q3 24 | 1.5% | 1.8% | ||
| Q2 24 | 1.5% | 2.3% | ||
| Q1 24 | 1.8% | 1.0% |
现金转化率GHCIESC
| Q4 25 | 0.26× | 0.30× | ||
| Q3 25 | 1.45× | 1.29× | ||
| Q2 25 | 2.58× | 1.16× | ||
| Q1 25 | 1.93× | 0.34× | ||
| Q4 24 | 0.21× | 0.65× | ||
| Q3 24 | 3.28× | 1.42× | ||
| Q2 24 | — | 1.24× | ||
| Q1 24 | 0.01× | 0.59× |
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
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% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
