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Graham Holdings Co（GHC）与LINCOLN EDUCATIONAL SERVICES CORP（LINC）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LINCOLN EDUCATIONAL SERVICES CORP的8.8倍（$1.3B vs $142.9M）。LINCOLN EDUCATIONAL SERVICES CORP净利率更高（8.9% vs 8.7%，领先0.2%）。LINCOLN EDUCATIONAL SERVICES CORP同比增速更快（19.7% vs 0.4%）。LINCOLN EDUCATIONAL SERVICES CORP自由现金流更多（$25.0M vs $5.0M）。过去两年LINCOLN EDUCATIONAL SERVICES CORP的营收复合增速更高（17.6% 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。
林肯技术教育集团是美国营利性高等职业教育机构，总部位于新泽西州帕西帕尼，在美国科罗拉多、康涅狄格、佐治亚等12个州都设有校区，所有校区均由林肯教育服务公司持有运营，主打面向就业的高等职业技术教育服务。
GHC vs LINC — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $142.9M |
| 净利润 | $108.7M | $12.7M |
| 毛利率 | — | 62.3% |
| 营业利润率 | 3.8% | 12.4% |
| 净利率 | 8.7% | 8.9% |
| 营收同比 | 0.4% | 19.7% |
| 净利润同比 | -80.2% | 85.9% |
| 每股收益（稀释后） | $24.76 | $0.41 |
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
| Q4 25 | $1.3B | $142.9M | ||
| Q3 25 | $1.3B | $141.4M | ||
| Q2 25 | $1.2B | $116.5M | ||
| Q1 25 | $1.2B | $117.5M | ||
| Q4 24 | $1.2B | $119.4M | ||
| Q3 24 | $1.2B | $114.4M | ||
| Q2 24 | $1.2B | $102.9M | ||
| Q1 24 | $1.2B | $103.4M |
| Q4 25 | $108.7M | $12.7M | ||
| Q3 25 | $122.9M | $3.8M | ||
| Q2 25 | $36.7M | $1.6M | ||
| Q1 25 | $23.9M | $1.9M | ||
| Q4 24 | $548.8M | $6.8M | ||
| Q3 24 | $72.5M | $4.0M | ||
| Q2 24 | $-21.0M | $-682.0K | ||
| Q1 24 | $124.4M | $-214.0K |
| Q4 25 | — | 62.3% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 59.8% | ||
| Q1 25 | — | 59.7% | ||
| Q4 24 | — | 62.2% | ||
| Q3 24 | — | 58.0% | ||
| Q2 24 | — | 55.7% | ||
| Q1 24 | — | 58.4% |
| Q4 25 | 3.8% | 12.4% | ||
| Q3 25 | 5.2% | 4.4% | ||
| Q2 25 | 6.0% | 2.5% | ||
| Q1 25 | 4.1% | 2.9% | ||
| Q4 24 | 5.8% | 9.2% | ||
| Q3 24 | 6.8% | 5.1% | ||
| Q2 24 | 2.2% | -1.1% | ||
| Q1 24 | 3.1% | -0.4% |
| Q4 25 | 8.7% | 8.9% | ||
| Q3 25 | 9.6% | 2.7% | ||
| Q2 25 | 3.0% | 1.3% | ||
| Q1 25 | 2.0% | 1.7% | ||
| Q4 24 | 44.1% | 5.7% | ||
| Q3 24 | 6.0% | 3.5% | ||
| Q2 24 | -1.8% | -0.7% | ||
| Q1 24 | 10.8% | -0.2% |
| Q4 25 | $24.76 | $0.41 | ||
| Q3 25 | $27.91 | $0.12 | ||
| Q2 25 | $8.35 | $0.05 | ||
| Q1 25 | $5.45 | $0.06 | ||
| Q4 24 | $124.05 | $0.22 | ||
| Q3 24 | $16.42 | $0.13 | ||
| Q2 24 | $-4.79 | $-0.02 | ||
| Q1 24 | $27.72 | $-0.01 |
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 | $28.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.8B | $199.7M |
| 总资产 | $8.4B | $493.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $267.0M | $28.5M | ||
| Q3 25 | $190.8M | $13.5M | ||
| Q2 25 | $176.2M | $16.7M | ||
| Q1 25 | $156.7M | $28.7M | ||
| Q4 24 | $260.9M | $59.3M | ||
| Q3 24 | $244.4M | $54.0M | ||
| Q2 24 | $140.7M | $67.0M | ||
| Q1 24 | $130.9M | $68.6M |
| Q4 25 | $4.8B | $199.7M | ||
| Q3 25 | $4.5B | $185.9M | ||
| Q2 25 | $4.4B | $180.7M | ||
| Q1 25 | $4.3B | $177.8M | ||
| Q4 24 | $4.3B | $178.3M | ||
| Q3 24 | $4.0B | $170.0M | ||
| Q2 24 | $4.0B | $164.9M | ||
| Q1 24 | $4.0B | $164.5M |
| Q4 25 | $8.4B | $493.2M | ||
| Q3 25 | $7.9B | $466.9M | ||
| Q2 25 | $7.6B | $447.3M | ||
| Q1 25 | $7.6B | $427.4M | ||
| Q4 24 | $7.7B | $436.6M | ||
| Q3 24 | $7.4B | $404.0M | ||
| Q2 24 | $7.2B | $366.4M | ||
| Q1 24 | $7.3B | $355.2M |
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 | $43.5M |
| 自由现金流经营现金流 - 资本支出 | $5.0M | $25.0M |
| 自由现金流率自由现金流/营收 | 0.4% | 17.5% |
| 资本支出强度资本支出/营收 | 1.9% | 13.0% |
| 现金转化率经营现金流/净利润 | 0.26× | 3.43× |
| 过去12个月自由现金流最近4个季度 | $275.3M | $-27.3M |
8季度趋势，按日历期对齐
| Q4 25 | $28.3M | $43.5M | ||
| Q3 25 | $178.1M | $23.9M | ||
| Q2 25 | $94.8M | $299.0K | ||
| Q1 25 | $46.0M | $-8.4M | ||
| Q4 24 | $116.3M | $30.3M | ||
| Q3 24 | $237.6M | $5.6M | ||
| Q2 24 | $52.0M | $8.3M | ||
| Q1 24 | $1.1M | $-14.9M |
| Q4 25 | $5.0M | $25.0M | ||
| Q3 25 | $161.8M | $2.0M | ||
| Q2 25 | $78.0M | $-26.1M | ||
| Q1 25 | $30.5M | $-28.3M | ||
| Q4 24 | $91.1M | $5.5M | ||
| Q3 24 | $219.4M | $-13.8M | ||
| Q2 24 | $33.7M | $-2.7M | ||
| Q1 24 | $-20.2M | $-16.6M |
| Q4 25 | 0.4% | 17.5% | ||
| Q3 25 | 12.6% | 1.4% | ||
| Q2 25 | 6.4% | -22.4% | ||
| Q1 25 | 2.6% | -24.1% | ||
| Q4 24 | 7.3% | 4.6% | ||
| Q3 24 | 18.2% | -12.0% | ||
| Q2 24 | 2.8% | -2.6% | ||
| Q1 24 | -1.8% | -16.1% |
| Q4 25 | 1.9% | 13.0% | ||
| Q3 25 | 1.3% | 15.5% | ||
| Q2 25 | 1.4% | 22.7% | ||
| Q1 25 | 1.3% | 16.9% | ||
| Q4 24 | 2.0% | 20.8% | ||
| Q3 24 | 1.5% | 16.9% | ||
| Q2 24 | 1.5% | 10.7% | ||
| Q1 24 | 1.8% | 1.6% |
| Q4 25 | 0.26× | 3.43× | ||
| Q3 25 | 1.45× | 6.29× | ||
| Q2 25 | 2.58× | 0.19× | ||
| Q1 25 | 1.93× | -4.31× | ||
| Q4 24 | 0.21× | 4.43× | ||
| Q3 24 | 3.28× | 1.42× | ||
| 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
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% |
LINC
| Transferred Over Time | $136.0M | 95% |
| Transferred At Point In Time | $6.9M | 5% |
