McGraw Hill, Inc. (MH) 10-Year Financial Performance & Capital Metrics

MH • • Industrial / General

Consumer DefensiveEducation & TrainingOnline Learning PlatformsEducational Technology & Content

AboutMcGraw Hill, Inc., doing business as McGraw Hill, provides information solutions for K-12, higher education, and professional markets in the United States and internationally. It operates through K-12, Higher Education, Global Professional, and International segments. The K-12 segment provides core, supplemental, and intervention curricula to support the needs of the K-12 schools. It sells blended digital and print learning solutions directly to school districts across the United States. The Higher Education segment offers students, instructors, and institutions with adaptive digital learning solutions and content, and instructional materials. Its solutions are used by students enrolled in non-profit colleges and universities, as well as for-profit institutions. This segment sells its higher education solutions to online retailers and distribution partners, as well as sells directly to student through its proprietary e-commerce platform. The Global Professional segment provides students, institutions, and professionals with comprehensive medical and engineering learning solutions. This segment sells digital learning solutions and print materials accessible through a range of mediums for learners and customers. The International segment offers digital and print solutions in approximately 100 countries and 80 languages outside of the United States. This segment, through its distribution network, serve the needs of learners and educators with K-12 and higher education solutions. McGraw Hill, Inc. was formerly known as Mav Holding Corporation and changed its name to McGraw Hill, Inc. in October 2022. The company was founded in 1888 and is headquartered in Columbus, Ohio.Show more

Revenue $2.1B +7.2%
EBITDA $669M +28.3%
Net Income -$86M +55.5%
EPS (Diluted) -0.45 +55.4%
Gross Margin 79.9% +1.7%
EBITDA Margin 31.85% +19.7%
Operating Margin 14.6% +84.3%
Net Margin -4.08% +58.5%
ROE -26.45% +36.5%
ROIC 6.73% +121.3%
Debt/Equity 11.62 +21.4%
Interest Coverage 1.05 +119.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 23.1% free cash flow margin

✗Weaknesses

✗High debt to equity ratio of 11.6x
✗Expensive at 10.1x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg2.06%

5Y Avg2.06%

3Y Avg2.06%

Latest6.75%

Peer Comparison

Educational Technology & Content

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOPEGrand Canyon Education, Inc.	5.03B	180.00	23.29	7.5%	19.38%	27.88%	5.02%	0.14
DAOYoudao, Inc.	390.07M	12.47	17.81	5.89%	4.07%
VSTAVasta Platform Limited	79.21M	4.96	0.82	12.64%	28.1%	10.01%	59.55%	0.24
MYNDMynd.ai, Inc.	20.22M	0.44	-0.02	-35.35%	-35.81%	-124.42%		2.64
CHGGChegg, Inc.	96.16M	0.88	-0.11	-13.78%	-17.14%	-52.54%	52.26%	2.61
YQ17 Education & Technology Group Inc.	22.43M	3.44	-0.14	10.67%	-96.33%	-39.99%		0.03
JZJianzhi Education Technology Group Company Limited	7.63M	0.99	-0.59	-43.52%	-24.83%	-5.25%		0.29
SKILSkillsoft Corp.	86.45M	9.87	-0.66	-4.02%	-26.02%	-33.66%	13.42%	6.28

Profit & Loss

	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	1.95B	1.96B	2.1B
Revenue Growth %	-	0.01%	0.07%
Cost of Goods Sold+	464.56M	420.33M	422.29M
COGS % of Revenue	0.24%	0.21%	0.2%
Gross Profit+	1.48B	1.54B	1.68B
Gross Margin %	0.76%	0.79%	0.8%
Gross Profit Growth %	-	0.04%	0.09%
Operating Expenses+	1.67B	1.38B	1.37B
OpEx % of Revenue	0.86%	0.71%	0.65%
Selling, General & Admin	709.41M	705.55M	725.41M
SG&A % of Revenue	0.36%	0.36%	0.35%
Research & Development	278.1M	263.42M	284.43M
R&D % of Revenue	0.14%	0.13%	0.14%
Other Operating Expenses	683.88M	415.88M	362.36M
Operating Income+	-188.17M	155.3M	306.81M
Operating Margin %	-0.1%	0.08%	0.15%
Operating Income Growth %	-	1.83%	0.98%
EBITDA+	183.71M	521.68M	669.16M
EBITDA Margin %	0.09%	0.27%	0.32%
EBITDA Growth %	-	1.84%	0.28%
D&A (Non-Cash Add-back)	371.88M	366.38M	362.36M
EBIT	123.83M	204.8M	306.81M
Net Interest Income+	-278.22M	-326.44M	-293.45M
Interest Income	0	0	0
Interest Expense	278.22M	326.44M	293.45M
Other Income/Expense	-265.67M	-323.02M	-296.17M
Pretax Income+	-453.84M	-167.72M	10.64M
Pretax Margin %	-0.23%	-0.09%	0.01%
Income Tax+	-49.73M	25.29M	96.48M
Effective Tax Rate %	0.89%	1.15%	-8.07%
Net Income+	-404.1M	-193.02M	-85.84M
Net Margin %	-0.21%	-0.1%	-0.04%
Net Income Growth %	-	0.52%	0.56%
Net Income (Continuing)	-404.1M	-193.02M	-85.84M
Discontinued Operations	0	0	0
Minority Interest	0	0	0
EPS (Diluted)+	-2.12	-1.01	-0.45
EPS Growth %	-	0.52%	0.55%
EPS (Basic)	-2.12	-1.01	-0.45
Diluted Shares Outstanding	191M	191M	191M
Basic Shares Outstanding	191M	191M	191M
Dividend Payout Ratio	-	-	-

Balance Sheet

	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	903.44M	903.93M	1.05B
Cash & Short-Term Investments	181.47M	203.62M	389.83M
Cash Only	181.47M	203.62M	389.83M
Short-Term Investments	0	0	0
Accounts Receivable	307.58M	340.42M	338.43M
Days Sales Outstanding	57.64	63.38	58.79
Inventory	248.31M	213.88M	174.02M
Days Inventory Outstanding	195.1	185.72	150.41
Other Current Assets	156.29M	135.28M	141.3M
Total Non-Current Assets+	5.17B	4.9B	4.71B
Property, Plant & Equipment	177.11M	162.05M	144.86M
Fixed Asset Turnover	11.00x	12.10x	14.51x
Goodwill	2.6B	2.56B	2.56B
Intangible Assets	2.13B	1.88B	1.68B
Long-Term Investments	0	0	0
Other Non-Current Assets	253.14M	296.32M	318.33M
Total Assets+	6.07B	5.81B	5.76B
Asset Turnover	0.32x	0.34x	0.36x
Asset Growth %	-	-0.04%	-0.01%
Total Current Liabilities+	1.15B	1.14B	1.33B
Accounts Payable	148.82M	110.05M	146.74M
Days Payables Outstanding	116.93	95.56	126.83
Short-Term Debt	21.25M	21.25M	13.17M
Deferred Revenue (Current)	1000K	1000K	1000K
Other Current Liabilities	162.75M	156.46M	212.09M
Current Ratio	0.79x	0.79x	0.79x
Quick Ratio	0.57x	0.60x	0.66x
Cash Conversion Cycle	135.81	153.54	82.36
Total Non-Current Liabilities+	4.36B	4.3B	4.15B
Long-Term Debt	3.46B	3.41B	3.16B
Capital Lease Obligations	81.95M	76.53M	64.74M
Deferred Tax Liabilities	46.15M	15.4M	15.66M
Other Non-Current Liabilities	12.1M	15.6M	20M
Total Liabilities	5.51B	5.44B	5.48B
Total Debt+	3.59B	3.53B	3.26B
Net Debt	3.41B	3.33B	2.87B
Debt / Equity	6.43x	9.57x	11.62x
Debt / EBITDA	19.54x	6.77x	4.86x
Net Debt / EBITDA	18.55x	6.38x	4.28x
Interest Coverage	-0.68x	0.48x	1.05x
Total Equity+	558.13M	368.75M	280.24M
Equity Growth %	-	-0.34%	-0.24%
Book Value per Share	2.92	1.93	1.47
Total Shareholders' Equity	558.13M	368.75M	280.24M
Common Stock	1.56M	1.56M	1.56M
Retained Earnings	-1B	-1.2B	-1.28B
Treasury Stock	0	0	0
Accumulated OCI	-3.4M	245K	-2.43M
Minority Interest	0	0	0

Cash Flow

	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	256.62M	236.16M	646.28M
Operating CF Margin %	0.13%	0.12%	0.31%
Operating CF Growth %	-	-0.08%	1.74%
Net Income	-404.1M	-193.02M	-85.84M
Depreciation & Amortization	371.88M	366.38M	362.36M
Stock-Based Compensation	0	0	0
Deferred Taxes	-59.49M	-30.44M	-1.47M
Other Non-Cash Items	470.58M	203.5M	144.96M
Working Capital Changes	-122.26M	-110.26M	226.27M
Change in Receivables	-52.33M	-42.76M	-12.49M
Change in Inventory	-85.62M	-784K	26.3M
Change in Payables	0	0	0
Cash from Investing+	-162.32M	-136.11M	-167.06M
Capital Expenditures	-140.56M	-156.61M	-161.06M
CapEx % of Revenue	0.07%	0.08%	0.08%
Acquisitions	-	-	-
Investments	-	-	-
Other Investing	0	20.5M	0
Cash from Financing+	-204.57M	-77.24M	-294.68M
Debt Issued (Net)	-	-	-
Equity Issued (Net)	-	-	-
Dividends Paid	0	0	0
Share Repurchases	-	-	-
Other Financing	-93.31M	0	-24.03M
Net Change in Cash	-	-	-
Free Cash Flow+	116.06M	79.55M	485.22M
FCF Margin %	0.06%	0.04%	0.23%
FCF Growth %	-	-0.31%	5.1%
FCF per Share	0.61	0.42	2.54
FCF Conversion (FCF/Net Income)	-0.64x	-1.22x	-7.53x
Interest Paid	257.7M	333.37M	274.73M
Taxes Paid	16.01M	43.78M	46.92M

Key Ratios

Metric	2023	2024	2025
Return on Equity (ROE)	-72.4%	-41.65%	-26.45%
Return on Invested Capital (ROIC)	-3.56%	3.04%	6.73%
Gross Margin	76.15%	78.56%	79.9%
Net Margin	-20.75%	-9.85%	-4.08%
Debt / Equity	6.43x	9.57x	11.62x
Interest Coverage	-0.68x	0.48x	1.05x
FCF Conversion	-0.64x	-1.22x	-7.53x
Revenue Growth	-	0.65%	7.18%

Frequently Asked Questions

Growth & Financials

McGraw Hill, Inc. (MH) reported $2.10B in revenue for fiscal year 2025. This represents a 8% increase from $1.95B in 2023.

McGraw Hill, Inc. (MH) grew revenue by 7.2% over the past year. This is steady growth.

McGraw Hill, Inc. (MH) reported a net loss of $196.9M for fiscal year 2025.

Dividend & Returns

McGraw Hill, Inc. (MH) has a return on equity (ROE) of -26.5%. Negative ROE indicates the company is unprofitable.

McGraw Hill, Inc. (MH) had negative free cash flow of $132.9M in fiscal year 2025, likely due to heavy capital investments.

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