McGraw Hill, Inc. (MH) Balance Sheet
MH balance sheet, FY2026
March 31, 2026 · U.S. dollars$5.49B assets = $4.76B liabilities + $726.2M equity
Both columns are drawn to the same scale: what MH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MH financial health
Descriptive bands, not a rating. Fiscal FY2026.
MH balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.58BFY2017 | $5.49BFY2026 | +8.8%/yr | |
| Total liabilities | $3.73BFY2017 | $4.76BFY2026 | +2.8%/yr | |
| Shareholders’ equity | −$1.15BFY2017 | $726.2MFY2026 | — | |
| Cash & short-term investments | $418.8MFY2017 | $253.5MFY2026 | −5.4%/yr | |
| Total debt | $2.35BFY2017 | $2.65BFY2026 | +1.3%/yr | |
| Net cash (debt) | −$1.93BFY2017 | −$2.39BFY2026 | −$465.7M | |
| Working capital | $178.4MFY2017 | −$292.9MFY2026 | −$471.3M | |
| Book value per share | $4.97FY2022 | $3.95FY2026 | −5.5%/yr | |
| Current ratio | 1.23FY2017 | 0.77FY2026 | −0.46 | |
| Debt / equity | 3.90FY2022 | 3.64FY2026 | −0.25 | |
| Shares outstanding | 191.0MFY2022 | 183.7MFY2026 | −1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MH assets
MH liabilities and equity
MH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MH balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $253.5M | $389.8M | $203.6M | $181.5M | $296.4M | $354.3M | $177.0M | $314.9M | $407.6M | $418.8M |
| Cash & equivalents | $253.5M | $389.8M | $203.6M | $181.5M | $296.4M | $354.3M | $177.0M | $314.9M | $407.6M | $418.8M |
| Receivables | $362.5M | $338.4M | $340.4M | $307.6M | $252.2M | $231.1M | $242.3M | $346.4M | $274.8M | $265.8M |
| Inventory | $195.0M | $174.0M | $213.9M | $248.3M | $226.2M | $153.6M | $177.0M | $185.5M | $169.1M | $174.7M |
| Other current assets | $162.6M | $150.4M | $146.0M | $166.1M | $135.7M | $104.9M | $102.9M | $111.2M | $95.4M | $101.7M |
| Total current assets | $973.6M | $1.05B | $903.9M | $903.4M | $910.6M | $843.9M | $699.3M | $958.0M | $946.8M | $960.9M |
| Property, plant & equipment (net) | $135.3M | $144.9M | $162.0M | $177.1M | $210.0M | $195.5M | $203.4M | $102.5M | $95.5M | $96.7M |
| Goodwill & intangible assets | $4.04B | $4.23B | $4.44B | $4.73B | $5.10B | $942.4M | $987.0M | $1.08B | $1.16B | $1.28B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $340.8M | $326.3M | $302.7M | $259.9M | $367.7M | $344.3M | $343.4M | $378.7M | $315.9M | $235.7M |
| Total assets | $5.49B | $5.76B | $5.81B | $6.07B | $6.59B | $2.33B | $2.23B | $2.51B | $2.52B | $2.58B |
| Liabilities | ||||||||||
| Accounts payable | $126.7M | $146.7M | $110.0M | $148.8M | $156.2M | $127.6M | $114.0M | $132.6M | $113.9M | $129.5M |
| Short-term debt | $27.7M | $25.8M | $38.9M | $44.1M | $42.3M | $33.4M | $42.9M | $31.3M | $17.3M | $15.8M |
| Deferred revenue | $835.4M | $794.0M | $736.4M | $688.4M | $616.6M | — | — | — | — | — |
| Total current liabilities | $1.27B | $1.33B | $1.14B | $1.15B | $1.21B | $970.2M | $864.0M | $932.1M | $815.3M | $782.5M |
| Long-term debt | $2.56B | $3.18B | $3.43B | $3.48B | $3.56B | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $71.8M | $77.4M | $94.2M | $104.8M | $114.0M | — | — | — | — | — |
| Other long-term liabilities | $932.1M | $962.5M | $866.6M | $888.2M | $866.8M | $2.86B | $2.94B | $2.89B | $2.90B | $2.95B |
| Total liabilities | $4.76B | $5.48B | $5.44B | $5.51B | $5.64B | $3.83B | $3.80B | $3.82B | $3.72B | $3.73B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.9M | $1.6M | $1.6M | $1.6M | $1.6M | $106,000 | $106,000 | $105,000 | $104,000 | $104,000 |
| Retained earnings (deficit) | −$1.25B | −$1.28B | −$1.20B | −$1.00B | −$598.2M | −$1.49B | −$1.53B | −$1.28B | −$1.15B | −$1.09B |
| Accumulated other comprehensive income | −$2.5M | −$2.4M | $245,000 | −$3.4M | −$3.4M | −$48.5M | −$64.2M | −$43.9M | −$41.0M | −$57.7M |
| Total shareholders' equity | $726.2M | $280.2M | $368.8M | $558.1M | $949.0M | −$1.51B | −$1.57B | −$1.31B | −$1.20B | −$1.15B |
| Key figures | ||||||||||
| Total debt | $2.65B | $3.26B | $3.53B | $3.59B | $3.70B | $2.24B | $2.31B | $2.22B | $2.24B | $2.35B |
| Net cash (debt) | −$2.39B | −$2.87B | −$3.33B | −$3.41B | −$3.40B | −$1.89B | −$2.13B | −$1.90B | −$1.83B | −$1.93B |
| Working capital | −$292.9M | −$277.8M | −$239.1M | −$245.9M | −$303.6M | −$126.3M | −$164.7M | $25.9M | $131.6M | $178.4M |
| Tangible book value | −$3.31B | −$3.95B | −$4.07B | −$4.17B | −$4.15B | −$2.45B | −$2.56B | −$2.38B | −$2.36B | −$2.43B |
| Book value per share | $3.95 | $1.47 | $1.93 | $2.92 | $4.97 | — | — | — | — | — |
| Shares outstanding | 183.7M | 191.0M | 191.0M | 191.0M | 191.0M | — | — | — | — | — |
| Current ratio | 0.77 | 0.79 | 0.79 | 0.79 | 0.75 | 0.87 | 0.81 | 1.03 | 1.16 | 1.23 |
| Quick ratio | 0.49 | 0.55 | 0.48 | 0.43 | 0.45 | 0.60 | 0.49 | 0.71 | 0.84 | 0.87 |
| Debt / equity | 3.64 | 11.62 | 9.57 | 6.43 | 3.90 | — | — | — | — | — |
| Equity / assets | 13.2% | 4.9% | 6.3% | 9.2% | 14.4% | −64.7% | −70.2% | −52.0% | −47.6% | −44.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $193.6M | $253.5M | $514.4M | $463.2M | $247.3M | $389.8M | $549.0M | $203.6M |
| Cash & equivalents | $193.6M | $253.5M | $514.4M | $463.2M | $247.3M | $389.8M | $549.0M | $203.6M |
| Receivables | $377.9M | $362.5M | $242.3M | $666.8M | $444.7M | $338.4M | $330.9M | $340.4M |
| Inventory | $183.2M | $195.0M | $169.7M | $133.0M | $160.7M | $174.0M | $151.3M | $213.9M |
| Other current assets | $55.6M | $162.6M | $142.5M | $161.5M | $139.1M | $150.4M | $197.0M | $146.0M |
| Total current assets | $810.3M | $973.6M | $1.07B | $1.42B | $991.8M | $1.05B | $1.23B | $903.9M |
| Property, plant & equipment (net) | $135.7M | $135.3M | $138.3M | $145.5M | $146.4M | $144.9M | $146.4M | $162.0M |
| Goodwill & intangible assets | $4.00B | $4.04B | $4.10B | $4.14B | $4.19B | $4.23B | $4.27B | $4.44B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $429.4M | $340.8M | $338.6M | $336.8M | $335.9M | $326.3M | $319.0M | $302.7M |
| Total assets | $5.38B | $5.49B | $5.64B | $6.05B | $5.66B | $5.76B | $5.97B | $5.81B |
| Liabilities | ||||||||
| Accounts payable | $118.7M | $126.7M | $113.1M | $125.7M | $117.1M | $146.7M | $96.5M | $110.0M |
| Short-term debt | $27.1M | $27.7M | $27.2M | $25.7M | $26.3M | $25.8M | $26.6M | $38.9M |
| Deferred revenue | $732.9M | $835.4M | $813.2M | $966.9M | $737.6M | $794.0M | $828.1M | $736.4M |
| Total current liabilities | $1.15B | $1.27B | $1.28B | $1.41B | $1.20B | $1.33B | $1.30B | $1.14B |
| Long-term debt | $2.56B | $2.56B | $2.63B | $2.82B | $3.19B | $3.18B | $3.21B | $3.41B |
| Lease obligations | $69.8M | $71.8M | $74.5M | $74.8M | $77.5M | $77.4M | $83.5M | $94.2M |
| Other long-term liabilities | $883.8M | $932.1M | $960.6M | $1.02B | $991.9M | $962.5M | $1.02B | $882.2M |
| Total liabilities | $4.59B | $4.76B | $4.87B | $5.25B | $5.38B | $5.48B | $5.53B | $5.44B |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $1.9M | $1.9M | $1.9M | $1.9M | $1.7M | $1.6M | $1.6M | $1.6M |
| Retained earnings (deficit) | −$1.19B | −$1.25B | −$1.20B | −$1.18B | −$1.28B | −$1.28B | −$1.12B | −$1.20B |
| Accumulated other comprehensive income | −$3.9M | −$2.5M | −$172,000 | −$460,000 | $89,000 | −$2.4M | −$3.1M | $245,000 |
| Total shareholders' equity | $788.4M | $726.2M | $775.3M | $794.6M | $283.3M | $280.2M | $436.5M | $368.8M |
| Key figures | ||||||||
| Total debt | $2.65B | $2.65B | $2.69B | $2.88B | $3.26B | $3.26B | $3.31B | $3.53B |
| Net cash (debt) | −$2.46B | −$2.39B | −$2.18B | −$2.42B | −$3.01B | −$2.87B | −$2.76B | −$3.33B |
| Working capital | −$334.9M | −$292.9M | −$213.2M | $14.7M | −$207.2M | −$277.8M | −$71.5M | −$239.1M |
| Tangible book value | −$3.21B | −$3.31B | −$3.32B | −$3.34B | −$3.90B | −$3.95B | −$3.84B | −$4.07B |
| Book value per share | $4.12 | $3.88 | $4.06 | $4.16 | $1.70 | $1.47 | $2.29 | $1.93 |
| Shares outstanding | 191.3M | 187.3M | 191.0M | 191.0M | 166.6M | 191.0M | 191.0M | 191.0M |
| Current ratio | 0.71 | 0.77 | 0.83 | 1.01 | 0.83 | 0.79 | 0.94 | 0.79 |
| Quick ratio | 0.50 | 0.49 | 0.59 | 0.80 | 0.58 | 0.55 | 0.68 | 0.48 |
| Debt / equity | 3.37 | 3.64 | 3.47 | 3.63 | 11.49 | 11.62 | 7.58 | 9.57 |
| Equity / assets | 14.7% | 13.2% | 13.7% | 13.1% | 5.0% | 4.9% | 7.3% | 6.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 11, 2026); data from EODHD.
MH financial position
At the end of fiscal 2026 (March 31, 2026), McGraw Hill had total assets of $5.5 billion (down 4.7% from a year earlier), total liabilities of $4.8 billion and shareholders' equity of $726.2 million. It held $253.5 million in cash and short-term investments against $2.6 billion of debt, net debt of $2.4 billion. Its current ratio was 0.77. In the latest quarter (ended June 30, 2026) total assets were $5.4 billion and equity $788.4 million.
Related: MH income statement, MH cash flow statement, MH key metrics. See the MH stock overview for the latest quote and news.
MH balance sheet FAQ
What are McGraw Hill's total assets?
McGraw Hill reported total assets of $5.5 billion at the end of fiscal 2026 (March 31, 2026), compared with $5.8 billion a year earlier.
How much debt does McGraw Hill have?
McGraw Hill had $2.6 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.64.
How much cash does McGraw Hill have?
McGraw Hill held $253.5 million in cash and short-term investments at the end of fiscal 2026; with $2.6 billion of debt that is net debt of $2.4 billion.
What is McGraw Hill's book value?
McGraw Hill's shareholders' equity (book value) was $726.2 million at the end of fiscal 2026, or $3.95 per share.
What is McGraw Hill's current ratio?
McGraw Hill had current assets of $973.6 million and current liabilities of $1.3 billion, a current ratio of 0.77 (current liabilities exceed current assets).
How much goodwill does McGraw Hill have?
McGraw Hill carried $4.0 billion of goodwill and intangible assets, 73.6% of total assets, at the end of fiscal 2026.