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Global provider of K-12, higher-education and professional learning content, textbooks and digital learning platforms.
Global provider of K-12, higher-education and professional learning content, textbooks and digital learning platforms.
Sells to school districts when states and districts choose new curriculum, a multi-year adoption cycle, and to college students through digital course-access fees paid per course. Digital products are an increasing share. Platinum Equity bought it in 2021, and it listed in 2025.
Moat: narrow (brand, distribution, switching costs). Long-established publisher brand with adoption relationships in school districts and university course integrations.
Headquarters: New York, New York · Founded: 1888 · Employees: 4,400
Size McGraw Hill (MH) is a United States Consumer Discretionary company (Miscellaneous Commercial Services) with a market value of $2.08B, the 1766th largest of 3,117 United States companies the cockpit tracks. Shares closed at $10.86 on 6 Nov 2026.
Performance Over six months the shares fell 7.7%, against -8.4% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 10 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +20.9%); the operating margin is 16.4% (peer median 10.3%).
Valuation It trades at 5.6× forward earnings against a peer median of 11.1× (cheapest of 10).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.6 points above its cost of capital (5.8% WACC).
Backlog Backlog (remaining performance obligations) was $1.79B at 30 Sep 2026, down 6% on a year earlier — 0.9 years of trailing revenue. Backlog detail →
Short interest Short interest is 1.3% of the free float (15 Oct 2026).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.12B | $2.10B | $2.10B | $1.96B | $1.95B |
| Revenue growth | — | 0% | +7% | +1% | — |
| Gross profit | $1.37B | $1.34B | $1.32B | $1.17B | $1.11B |
| EBITDA | $784M | $766M | $773M | $687M | $592M |
| Net income | $92.7M | $35.3M | -$85.8M | -$193M | -$404M |
| Free cash flow | $336M | $246M | $575M | $154M | $187M |
| Capital expenditure | $223M | $204M | $161M | $157M | $141M |
| Total debt | $2.65B | $2.66B | $3.26B | $3.54B | n/a |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| McGraw Hill MH | $2.08B | -8% | 0% | 16% | 5.6× | -5.6% |
| Pearson PSON.L | $10.4B | +18% | +3% | 15% | 18.4× | 0.9% |
| John Wiley & Sons WLY | $2.55B | +21% | 0% | 18% | 10.5× | 0.3% |
| Scholastic SCHL | $685M | -7% | -3% | 1% | 20.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.8% | -18.6% | 5th lowest of 10 |
| 6-month return | -7.7% | -8.4% | 5th highest of 10 |
| Distance from 52-week high | -39.7% | -23.2% | 4th lowest of 10 |
| Revenue growth (TTM) | +0.1% | +20.9% | lowest of 10 |
| Operating margin | 16.4% | 10.3% | 4th highest of 10 |
| Forward P/E | 5.6× | 11.1× | cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | -5.6% | -4.8% | 4th least demanding of 7 |
| Growth delivered (Del g) | +2.6% | +8.1% | 3rd lowest of 7 |
| Hurdle (Req g minus delivered) | -8.1 pp | -8.6 pp | 3rd most demanding of 7 |
| ROIC minus cost of capital | +2.6 pp | +1.5 pp | 4th highest of 9 |
| EV / EBITDA | 5.8× | 9.6× | 2nd cheapest of 7 |
| Net debt / EBITDA | 3.1× | 1.7× | 2nd most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| McGraw Hill MH | United States | $2.08B | -8% | 0% | 16% | 5.6× | -5.6% | +2.6% |
| Bright Horizons Family Solutions BFAM | United States | $2.57B | -24% | +7% | 10% | 9.8× | 5.0% | +14.1% |
| Grand Canyon Education LOPE | United States | $3.07B | -29% | +7% | 28% | 11.1× | -7.3% | +5.6% |
| Universal Technical Institute UTI | United States | $1.10B | +49% | +9% | 5% | 30.1× | n/a | n/a |
| Coursera COUR | United States | $989M | -35% | +44% | -4% | 6.4× | n/a | n/a |
| Laureate Education LAUR | United States | $4.56B | +2% | +21% | 26% | 14.5× | -6.7% | +10.7% |
| TAL Education Group Sponsored ADR TAL | United States | $4.77B | -8% | +26% | 16% | 9.8× | n/a | n/a |
| ADT ADT | United States | $6.66B | +44% | +2% | 25% | 10.3× | -2.9% | -0.7% |
| Lincoln Educational Services LINC | United States | $560M | -61% | +22% | 6% | 18.7× | 13.1% | +12.1% |
| Gaotu Techedu, Inc. Sponsored ADR GOTU | United States | $552M | +18% | +25% | -7% | 386.9× | -11.9% | -3.7% |
McGraw Hill reported $1.79B of remaining performance obligations at 30 Sep 2026, down 6% from a year earlier and up 18% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 1.42.