McGraw Hill, Inc. (MH)
McGraw Hill, Inc., known as McGraw Hill, delivers educational resources to students and professionals across primary (K-12), higher education, and specialized professional sectors, both domestically in the United States and internationally. The company organizes its operations into four main divisions: K-12, Higher Education, Global Professional, and International. The K-12 segment is dedicated to primary and secondary schooling, offering essential, supplementary, and remedial curricula. These materials, provided in both digital and print formats, are sold directly to school districts throughout the U.S. The Higher Education segment supports post-secondary learning by furnishing students, instructors, and institutions with adaptable digital learning tools, content, and instructional aids. These solutions are utilized by individuals at both non-profit and for-profit colleges and universities. Sales occur through online retailers, various distribution partners, and directly to students via the company's own e-commerce platform. The Global Professional segment focuses on medical and engineering disciplines, equipping students, institutions, and practitioners with comprehensive learning solutions. This division distributes its digital learning solutions and print materials, accessible through a variety of mediums, to a broad client base. The International segment expands McGraw Hill's global footprint, offering digital and print educational products in approximately 100 countries and 80 languages outside of the United States. Through its extensive distribution network, this division provides K-12 and higher education resources to learners and educators worldwide. Established in 1888, McGraw Hill, Inc. adopted its current name in October 2022, having previously been known as Mav Holding Corporation. Its corporate headquarters are located in Columbus, Ohio.
Sector: Miscellaneous Publishing
Industry: Education & Training Services
McGraw Hill, Inc.
NYSE:MHConsumer Defensive · Education & Training Services
-1.22%$14.62
AH Close$14.62+0.00%vs close
AH Close$14.62+0.00%vs close
Mkt Cap$2.8B
Float23.89M
O/S191.31M
Inst Own101.0%
SI11.5%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$2.1B
Net Income$35.32M
Total Assets$5.49B
Free Cash Flow$246.31M
Debt & Equity
Debt 78%
Equity 22%
Total Debt$2.65B
Total Equity$726.22M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MH's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$5.49B
Liabilities$4.76B
Accounts Receivable$362.48M
Accounts Payable$126.7M
Inventory$195.02M
PP&E (Net)$135.26M
Goodwill$2.52B
Intangible Assets$1.51B
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Revenue | $2.1B | $2.1B | $1.96B | $1.95B | $1.79B | $1.54B | $1.58B | $1.6B | $1.72B | $1.74B | $1.83B |
| YoY Growth | 0.1% | 7.2% | 0.7% | 8.8% | 15.9% | -2.5% | -0.8% | -7.1% | -1.2% | -4.8% | - |
| Cost of Revenue | $401.14M | $422.29M | $420.33M | $464.56M | $418.52M | $336.54M | $358.28M | $394.53M | $426.64M | $427.41M | $479.47M |
| Gross Profit | $1.7B | $1.68B | $1.54B | $1.48B | $1.37B | $1.21B | $1.23B | $1.2B | $1.29B | $1.31B | $1.35B |
| Gross Margin | 80.9% | 79.9% | 78.6% | 76.1% | 76.6% | 78.2% | 77.4% | 75.3% | 75.2% | 75.4% | 73.8% |
| Research and Development | $276.25M | $284.43M | $263.42M | $278.1M | $0 | $35.35M | $37.81M | $5.5M | $0 | $0 | $0 |
| Selling, General, and Administrative | $747.69M | $725.41M | $705.55M | $709.41M | $1.04B | $809.08M | $987.98M | $1.03B | $1.05B | $1.06B | $1.1B |
| Other | $361.92M | $362.36M | $415.88M | $683.88M | $771.58M | $114.23M | $145.49M | $137.92M | $147.57M | $145.01M | $149.56M |
| Total Operating Expenses | $1.39B | $1.37B | $1.38B | $1.67B | $1.81B | $958.66M | $1.17B | $1.17B | $1.2B | $1.21B | $1.25B |
| Operating Income (EBIT) | $315.78M | $306.81M | $155.3M | -$188.17M | -$435.89M | $249.51M | $55.2M | $30.69M | $93.37M | $106.08M | $96.88M |
| Operating Margin | 15.0% | 14.6% | 7.9% | -9.7% | -24.3% | 16.2% | 3.5% | 1.9% | 5.4% | 6.1% | 5.3% |
| Interest Expense | $0 | $0 | $326.44M | $278.22M | $214.62M | $193.32M | $188.1M | $180.58M | $179.38M | $199.51M | $192.92M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$271.99M | -$296.17M | -$323.02M | -$265.67M | -$286.92M | -$190.55M | -$178.98M | -$180.58M | -$166.65M | -$226.07M | -$188.14M |
| Income Before Tax (EBT) | $43.79M | $10.64M | -$167.72M | -$453.84M | -$722.82M | $58.96M | -$123.78M | -$149.89M | -$73.28M | -$119.98M | -$91.26M |
| Income Tax Expense | $8.47M | $96.48M | $25.29M | -$49.73M | -$48.56M | $14.21M | $11.53M | $10.54M | $7.35M | $15.12M | $11.53M |
| Net Income | $35.32M | -$85.84M | -$193.02M | -$404.1M | -$674.25M | $44.75M | -$135.31M | -$160.42M | -$65.93M | -$137.01M | -$179.13M |
| Net Income Margin | 1.7% | -4.1% | -9.8% | -20.7% | -37.7% | 2.9% | -8.5% | -10.0% | -3.8% | -7.9% | -9.8% |
| Supplementary Data | |||||||||||
| EPS | 0.19 | -0.45 | -1.01 | -2.12 | -3.53 | 3.86 | -11.77 | -14.09 | -5.85 | -12.03 | -9.22 |
| Diluted EPS | 0.19 | -0.45 | -1.01 | -2.12 | -3.53 | 3.86 | -11.77 | -14.09 | -5.85 | -12.03 | -9.22 |
| Weighted Average OS | 183.47M | 191.00M | 191.00M | 191.00M | 191.00M | 11.60M | 11.50M | 11.38M | 11.27M | 11.23M | 11.15M |
| EBITDA | $677.7M | $669.16M | $571.18M | $495.71M | $398.96M | $399.09M | $366.42M | $290.66M | $362.62M | $363.46M | $356.58M |
| EBITDA Margin | 32.2% | 31.8% | 29.1% | 25.5% | 22.3% | 25.8% | 23.1% | 18.2% | 21.1% | 20.9% | 19.5% |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $253.52M | $389.83M | $203.62M | $181.47M | $296.37M | $354.32M | $177M | $314.94M | $407.63M | $418.75M | $553.19M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $253.52M | $389.83M | $203.62M | $181.47M | $296.37M | $354.32M | $177M | $314.94M | $407.63M | $418.75M | $553.19M |
| Accounts Receivable | $362.48M | $338.43M | $340.42M | $307.58M | $252.25M | $231.09M | $242.35M | $346.35M | $274.75M | $265.76M | $269.1M |
| Inventory | $195.02M | $174.02M | $213.88M | $248.31M | $226.2M | $153.59M | $177.04M | $185.53M | $169.05M | $174.66M | $169.43M |
| Other Current Assets | $137.61M | $141.3M | $135.28M | $156.29M | $124.33M | $8.31M | $17.84M | $27.07M | $0 | $0 | $0 |
| Total Current Assets | $973.65M | $1.05B | $903.93M | $903.44M | $910.57M | $843.94M | $699.26M | $958M | $946.81M | $960.9M | $1.08B |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $135.26M | $144.86M | $162.05M | $177.11M | $209.95M | $195.51M | $203.38M | $102.48M | $95.54M | $96.7M | $95.32M |
| Goodwill | $2.52B | $2.56B | $2.56B | $2.6B | $2.85B | $500.73M | $491.21M | $494.06M | $497.27M | $492.12M | $488.96M |
| Intangible Assets | $1.51B | $1.68B | $1.88B | $2.13B | $2.25B | $441.66M | $495.78M | $581.19M | $661.73M | $792.63M | $860.16M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $6.39M | $5.4M | $11.82M | $6.38M | $5.36M | $6.37M |
| Deferred Tax Assets | $8.57M | $7.98M | $6.35M | $6.71M | $6.11M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $332.23M | $318.33M | $296.32M | $253.14M | $361.56M | $337.93M | $337.95M | $366.88M | $309.53M | $230.35M | $197.77M |
| Total Long-Term Assets | $4.51B | $4.71B | $4.9B | $5.17B | $5.68B | $1.48B | $1.53B | $1.56B | $1.57B | $1.62B | $1.65B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $5.49B | $5.76B | $5.81B | $6.07B | $6.59B | $2.33B | $2.23B | $2.51B | $2.52B | $2.58B | $2.72B |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $126.7M | $146.74M | $110.05M | $148.82M | $156.25M | $127.61M | $113.97M | $132.6M | $113.9M | $129.49M | $173.01M |
| Short-Term Debt | $13.17M | $13.17M | $21.25M | $21.25M | $21.25M | $13.96M | $17.27M | $31.3M | $17.27M | $15.75M | $81.62M |
| Current Income Tax Payable | $0 | $59.8M | $13.35M | $4.66M | $18.02M | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $835.36M | $794.03M | $736.43M | $688.41M | $616.57M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $168.02M | $212.09M | $156.46M | $162.75M | $293.23M | $673.76M | $640.81M | $616.83M | $492.45M | $458.82M | $444.02M |
| Total Current Liabilities | $1.27B | $1.33B | $1.14B | $1.15B | $1.21B | $970.23M | $864M | $932.12M | $815.26M | $782.47M | $898.49M |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $2.56B | $3.16B | $3.41B | $3.46B | $3.56B | $2.09B | $2.16B | $2.19B | $2.22B | $2.33B | $2.05B |
| Long-Term Unearned Revenue | $836M | $882.16M | $774.64M | $760.14M | $653.85M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $15.21M | $15.66M | $15.4M | $46.15M | $104.7M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $23.54M | $20M | $15.6M | $12.1M | $15.35M | $652.68M | $674.68M | $700.16M | $677.98M | $616.18M | $461.12M |
| Total Long-Term Liabilities | $3.49B | $4.15B | $4.3B | $4.36B | $4.43B | $2.86B | $2.94B | $2.89B | $2.9B | $2.95B | $2.51B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $4.76B | $5.48B | $5.44B | $5.51B | $5.64B | $3.83B | $3.8B | $3.82B | $3.72B | $3.73B | $3.41B |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $1.91M | $1.56M | $1.56M | $1.56M | $1.56M | $106K | $106K | $105K | $104K | $104K | $104K |
| Retained Earnings | -$1.25B | -$1.28B | -$1.2B | -$1B | -$598.24M | -$1.49B | -$1.53B | -$1.28B | -$1.15B | -$1.09B | -$703.22M |
| Comprehensive Income & Other | -$2.52M | -$2.43M | $245K | -$3.4M | -$3.42M | -$48.47M | -$64.2M | -$43.91M | -$41.04M | -$57.74M | -$51.62M |
| Other Stockholders' Equity | $1.97B | $1.56B | $1.56B | $1.56B | $1.55B | -$16.27M | -$34.4M | -$22.54M | -$46.98M | -$64.47M | $14.01M |
| Total Equity | $726.22M | $280.24M | $368.75M | $558.13M | $948.95M | -$1.51B | -$1.57B | -$1.31B | -$1.2B | -$1.15B | -$689.1M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $5.49B | $5.76B | $5.81B | $6.07B | $6.59B | $2.33B | $2.23B | $2.51B | $2.52B | $2.58B | $2.72B |
| Supplementary Data | |||||||||||
| Total Debt | $2.65B | $3.26B | $3.53B | $3.59B | $3.7B | $2.24B | $2.31B | $2.22B | $2.24B | $2.35B | $2.13B |
| Net Debt | $2.39B | $2.87B | $3.33B | $3.41B | $3.4B | $1.89B | $2.13B | $1.9B | $1.83B | $1.93B | $1.58B |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Operating Activities | |||||||||||
| Net Income | $35.32M | -$85.84M | -$193.02M | -$404.1M | -$619.38M | $44.75M | -$135.31M | -$160.42M | -$65.93M | -$137.01M | -$179.13M |
| Depreciation & Amortization | $361.92M | $362.36M | $366.38M | $371.88M | $343.19M | $120.03M | $261.54M | $244.7M | $254.99M | $240.29M | $234.94M |
| Deferred Income Tax | -$1.05M | -$1.47M | -$30.44M | -$59.49M | $0 | $3.87M | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $33.72M | $0 | $0 | $0 | $85M | $7.26M | $13.05M | $20.19M | $14.29M | $11.18M | $13.64M |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$22.9M | -$12.49M | -$42.76M | -$52.33M | -$9.98M | $16.25M | -$3.51M | -$80.84M | -$3.13M | -$3.78M | $11.88M |
| Inventory | -$29.47M | $26.3M | -$784K | -$85.62M | -$27.32M | -$4.17M | -$5.63M | -$45.34M | -$13.73M | -$26.82M | -$14.18M |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$239.2M | $212.46M | -$66.72M | $15.7M | -$172.84M | $13.95M | -$28.88M | $55.1M | -$71.59M | -$69.57M | -$67.31M |
| Total Working Capital Change | -$291.57M | $226.27M | -$110.26M | -$122.26M | -$210.14M | $26.03M | -$38.02M | -$71.09M | -$88.45M | -$100.16M | -$69.61M |
| Other Non-Cash Items | $192.84M | $144.96M | $203.5M | $470.58M | $607.02M | $193.43M | $162.34M | $122.97M | $149M | $183.66M | $308.59M |
| Net Cash from Operating | $331.17M | $646.28M | $236.16M | $256.62M | $205.69M | $395.38M | $263.6M | $156.35M | $263.89M | $197.96M | $308.42M |
| Investing Activities | |||||||||||
| Capital Expenditures | -$84.86M | -$71.06M | -$156.61M | -$140.56M | -$30.66M | -$107.98M | -$73.85M | -$63.24M | -$45.13M | -$38.22M | -$41.18M |
| Acquisitions | $0 | -$6M | $0 | -$21.76M | -$5.27B | -$5.2M | $0 | $0 | $0 | -$11.5M | -$6.83M |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$119M | -$90M | $20.5M | $0 | -$24.71M | $0 | -$71.6M | -$97.45M | -$90.58M | -$89.69M | -$103.75M |
| Net Cash from Investing | -$203.86M | -$167.06M | -$136.11M | -$162.32M | -$5.32B | -$113.19M | -$145.45M | -$160.69M | -$135.71M | -$139.42M | -$151.76M |
| Financing Activities | |||||||||||
| Debt Repaid | $652.19M | $270.65M | $77.24M | $124.52M | -$3.57B | $91.81M | $110.61M | $45.72M | $130.32M | -$176.51M | -$90.34M |
| Common Stock Issuance | $394.36M | $0 | $0 | $13.26M | $0 | $108K | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | -$2.33M | -$9.76M | -$2.92M | -$4.56M | -$1.65M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$300.63M | -$101.27M |
| Other Financing Activities | -$7.04M | -$24.03M | $0 | -$93.31M | $1.49B | -$19.94M | -$940K | $3.05M | -$9.06M | -$62.23M | -$272K |
| Net Cash from Financing | -$264.87M | -$294.68M | -$77.24M | -$204.57M | $5.06B | -$111.64M | -$113.88M | -$52.43M | -$142.31M | -$190.91M | -$12.85M |
| Forex Effect | $1.25M | $1.67M | -$659K | -$4.63M | $245.63M | -$3.16M | -$7.76M | -$4.94M | $3.01M | -$2.08M | -$4.58M |
| Net Change in Cash | -$136.31M | $186.21M | $22.14M | -$114.9M | $185.32M | $167.39M | -$214.92M | -$61.71M | -$11.12M | -$134.44M | $553.19M |
| Supplementary Data | |||||||||||
| Operating Cash Flow | $331.17M | $646.28M | $236.16M | $256.62M | $205.69M | $395.38M | $263.6M | $156.35M | $263.89M | $197.96M | $308.42M |
| Capital Expenditure | -$84.86M | -$71.06M | -$156.61M | -$140.56M | -$30.66M | -$107.98M | -$73.85M | -$63.24M | -$45.13M | -$38.22M | -$41.18M |
| Free Cash Flow | $246.31M | $575.22M | $79.55M | $116.06M | $175.04M | $287.39M | $189.75M | $93.11M | $218.76M | $159.74M | $267.24M |
| Cash at Beginning | $389.83M | $203.62M | $181.47M | $296.37M | $354.32M | $186.93M | $401.86M | $407.63M | $418.75M | $553.19M | $0 |
| Cash at End | $253.52M | $389.83M | $203.62M | $181.47M | $539.65M | $354.32M | $186.93M | $345.92M | $407.63M | $418.75M | $553.19M |