Profit looks boosted by one-off gains.Reported profit is 1.5× operating cash profit (EBITDA), lifted by income outside the core business.Reported profit is 1.5× operating cash profit, lifted by income outside the core business.
Graham's reported profit is 1.5× its operating cash profit (EBITDA), which is unusual: normally it's the other way round. Income outside the core business, such as interest on a large cash pile, gains on investments or asset sales, or tax items, has lifted net income, so its earnings-based valuation may look cheaper than the business alone justifies.Graham's reported profit is 1.5× its operating cash profit, which is unusual: normally it's the other way round. Income outside the core business, such as interest on a large cash pile, gains on investments or asset sales, or tax items, has lifted net income, so its earnings-based valuation may look cheaper than the business alone justifies.
Profit isn't fully turning into cash. Free cash flow is only 46% of reported profit.
Free cash flow is only 46% of reported profit. That usually means heavy spending on facilities and equipment, or cash tied up in inventory and unpaid bills. Worth checking whether it's a phase of investment or a lasting pattern.
Valuation signals disagree.Cheaper than 90% of peers on earnings, but only 44% on operating cash profit (EBITDA).Cheaper than 90% of peers on earnings, but only 44% on operating cash profit.
Relative to its earnings, Graham looks cheaper than 90% of peers; relative to its operating cash profit (EBITDA), cheaper than only 44%. The valuation score blends the two, so look at which measure fits this business best.Relative to its earnings, Graham looks cheaper than 90% of peers; relative to its operating cash profit, cheaper than only 44%. The valuation score blends the two, so look at which measure fits this business best.
Profits growing faster than sales.Since 2022 (an unusually strong year for operating profit): revenue +25%, operating profit +180%.Since 2022: revenue +25%, operating profit +180%.
Since 2022, Graham's revenue grew 25% while operating profit grew 180%: each extra dollar of sales is adding more profit.
StockQuotient Score
54/ 100▼ 1 since Oct 27 closeOct 5 55 → Nov 4 54 (-1)
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 66 → 65
Peer companies moved-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Graham
Is Graham getting weaker?
Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is 54/100, down 1 since Oct 28, 2026.
How is Graham valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 65/100 against 2,459 industrials peers.Earnings yield 10.5% vs a peer median of 3.8% (stronger than 90% of peers).Earnings yield 10.5% vs peers 3.8% (stronger than 90% of peers).
Is Graham growing?
At about the same pace as its peers. Growth scores 42/100 against 2,459 industrials peers.Earnings per share growth -19.4% vs a peer median of 7.1% (weaker than 75% of peers).Earnings per share growth -19.4% vs peers 7.1% (weaker than 75% of peers).
How profitable is Graham?
About as profitable as its peers. Profitability scores 48/100 against 2,459 industrials peers.Return on assets 6.7% vs a peer median of 3.1% (stronger than 82% of peers).Return on assets 6.7% vs peers 3.1% (stronger than 82% of peers).Return on invested capital 3.7% vs a peer median of 7.1% (weaker than 68% of peers).Return on invested capital 3.7% vs peers 7.1% (weaker than 68% of peers).
How risky is Graham?
Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings.Debt / equity 0.19× vs a peer median of 0.40× (stronger than 69% of peers).Debt / equity 0.19× vs peers 0.40× (stronger than 69% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Dec 31, 2025
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
4.9B USD
5.1B USD
+3.2%
Net income (12 months)
292.3M USD
541.9M USD
+85.4%
Operating margin
4.8%
5.1%
+0.3 pts
Free cash flow (12 months)
275.3M USD
248.0M USD
−9.9%
Debt
880.8M USD
900.4M USD
+2.2%
Cash
267.0M USD
156.8M USD
−41.3%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Industrials · 318 companies
Valuations in Industrials are near the top of their range since 2016.
85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.
2016Shaded: most expensive fifth of its range2026
Graham looks cheaper than most of its peers on our valuation measures, while the Industrials sector as a whole is valued high by its own standards since 2016. Both can be true at once.
Shown for Industrials: too few Conglomerates companies have a long enough history of their own.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Operating margin
2.4%
2.1%
1.6%
4.5%
4.8%
▲ 0.3 pts
Net margin
11.1%
1.7%
4.6%
15.1%
6.0%
▼ 9.2 pts
Return on assets (ROA)
4.7%
1.0%
2.9%
9.4%
3.5%
▼ 6.0 pts
Return on equity (ROE)
8.0%
1.8%
5.2%
17.0%
6.1%
▼ 11 pts
Free cash flow margin
1.3%
3.9%
3.8%
6.8%
5.6%
▼ 1.2 pts
Current ratio
1.58×
1.47×
1.50×
1.75×
1.75×
▲ 0.1%
Quick ratio
1.52×
1.34×
1.33×
1.55×
1.60×
▲ 3.0%
Debt to equity
0.15×
0.19×
0.20×
0.18×
0.18×
▲ 4.5%
Interest coverage
2.28×
1.54×
1.10×
1.16×
1.98×
▲ 71%
GHC price history
Price history is added with the daily price update and will appear after the next one.