McGraw Hill, Inc. (MH) Income Statement
MH FY2026 at a glance
Fiscal year ended March 31, 2026 · U.S. dollarsMH revenue and net income
Where MH's revenue goes
FY2026Each bar shows an amount and its share of revenue. MH kept 1.7% of revenue as net income.
MH profit margins
MH growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.1% | +2.6% | +6.4% | +1.4% |
| Gross profit | +1.3% | +4.7% | +7.1% | +2.3% |
| Operating income | +2.9% | — | +4.8% | +12.5% |
| Net income | — | — | −4.6% | — |
| EPS (diluted) | — | — | +49.1% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MH quarterly EPS vs estimates
McGraw Hill beat the analyst EPS estimate in 5 of the last 6 quarters. Next report: November 5, 2026 (estimate $0.70).
MH income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.10B | $2.10B | $1.96B | $1.95B | $1.79B | $1.54B | $1.58B | $1.60B | $1.72B | $1.74B |
| Cost of revenue | $401.1M | $422.3M | $420.3M | $464.6M | $418.5M | $336.5M | $358.3M | $394.5M | $426.6M | $427.4M |
| Gross profit | $1.70B | $1.68B | $1.54B | $1.48B | $1.37B | $1.21B | $1.23B | $1.20B | $1.29B | $1.31B |
| Research & development | $276.3M | $284.4M | $263.4M | $278.1M | — | $35.4M | $37.8M | $5.5M | — | — |
| Sales, general & admin | $747.7M | $725.4M | $705.6M | $709.4M | $1.04B | — | — | — | — | — |
| Total operating expenses | $1.39B | $1.37B | $1.38B | $1.67B | $1.81B | $958.7M | $1.17B | $1.17B | $1.20B | $1.21B |
| Operating income | $315.8M | $306.8M | $155.3M | −$188.2M | −$435.9M | $249.5M | $55.2M | $30.7M | $93.4M | $106.1M |
| Interest income | — | $293.4M | $326.4M | $278.2M | — | — | — | — | — | — |
| Interest expense | $207.2M | $293.4M | $326.4M | $278.2M | $214.6M | $193.3M | $188.1M | $180.6M | $179.4M | $199.5M |
| Income before taxes | $43.8M | $10.6M | −$167.7M | −$453.8M | −$722.8M | $59.0M | −$123.8M | −$149.9M | −$73.3M | −$120.0M |
| Income taxes | $8.5M | $96.5M | $25.3M | −$49.7M | −$48.6M | $14.2M | $11.5M | $10.5M | $7.4M | $15.1M |
| Net income | $35.3M | −$85.8M | −$193.0M | −$404.1M | −$674.3M | $44.8M | −$135.3M | −$160.4M | −$65.9M | −$137.0M |
| EBITDA | $677.7M | $669.2M | $571.2M | $495.7M | $335.7M | $363.7M | $200.7M | $151.0M | $217.1M | $236.0M |
| EPS (diluted) | $1.99 | −$1.40 | −$1.01 | −$2.12 | −$4.05 | $0.27 | −$12.45 | −$14.86 | −$5.77 | −$12.16 |
| Gross margin | 80.9% | 79.9% | 78.6% | 76.1% | 76.6% | 78.2% | 77.4% | 75.3% | 75.2% | 75.4% |
| Operating margin | 15.0% | 14.6% | 7.9% | −9.7% | −24.3% | 16.2% | 3.5% | 1.9% | 5.4% | 6.1% |
| Net margin | 1.7% | −4.1% | −9.8% | −20.7% | −37.7% | 2.9% | −8.5% | −10.0% | −3.8% | −7.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $549.9M | $463.7M | $434.2M | $669.2M | $535.7M | $473.3M | $416.5M | $688.6M | $523.0M | $419.3M | $399.0M | $641.1M |
| Cost of revenue | $110.7M | $74.8M | $63.8M | $139.1M | $123.4M | $78.4M | $65.3M | $153.4M | $125.3M | $80.2M | $141.2M | $221.6M |
| Gross profit | $439.2M | $388.9M | $370.3M | $530.1M | $412.3M | $394.9M | $351.2M | $535.2M | $397.7M | $339.1M | $257.8M | $419.5M |
| Research & development | $59.8M | $73.6M | $67.5M | $69.7M | $65.5M | — | $70.1M | $63.5M | $63.5M | — | — | — |
| Sales, general & admin | $181.6M | $197.1M | $176.7M | $211.1M | $162.8M | $428.7M | $167.2M | $195.5M | $169.6M | $257.9M | $244.1M | — |
| Total operating expenses | $324.9M | $356.2M | $339.9M | $373.6M | $316.1M | $367.1M | $327.1M | $356.1M | $321.9M | $379.7M | $244.1M | $275.7M |
| Operating income | $114.3M | $32.6M | $30.4M | $156.5M | $96.2M | $27.8M | $24.2M | $179.1M | $75.8M | −$40.6M | $13.7M | $143.8M |
| Interest income | — | — | $47.4M | $55.9M | $58.8M | $63.5M | — | — | — | — | — | — |
| Interest expense | $45.8M | $45.2M | $47.4M | $55.9M | $58.8M | $63.5M | $68.9M | $80.1M | $80.9M | $79.7M | $83.3M | $83.8M |
| Income before taxes | $68.5M | −$52.7M | −$25.1M | $84.2M | $37.5M | −$35.8M | −$44.7M | $96.2M | −$5.1M | −$120.3M | −$76.6M | $63.4M |
| Income taxes | $10.7M | −$2.5M | −$5.0M | −$21.1M | $36.9M | $121.1M | $8.2M | −$37.2M | $4.4M | $25.5M | −$688,000 | $2.8M |
| Net income | $57.9M | −$50.3M | −$20.2M | $105.3M | $502,000 | −$156.9M | −$52.9M | $133.4M | −$9.4M | −$145.9M | −$75.9M | $60.5M |
| EBITDA | $184.1M | $118.2M | $130.4M | $233.0M | $222.0M | $159.0M | $92.8M | $276.3M | $164.7M | $92.1M | $83.1M | $219.9M |
| EPS (diluted) | $0.57 | $0.31 | $0.28 | $1.40 | $0.00 | −$1.40 | — | — | — | — | — | — |
| Gross margin | 79.9% | 83.9% | 85.3% | 79.2% | 77.0% | 83.4% | 84.3% | 77.7% | 76.0% | 80.9% | 64.6% | 65.4% |
| Operating margin | 20.8% | 7.0% | 7.0% | 23.4% | 18.0% | 5.9% | 5.8% | 26.0% | 14.5% | −9.7% | 3.4% | 22.4% |
| Net margin | 10.5% | −10.8% | −4.7% | 15.7% | 0.1% | −33.1% | −12.7% | 19.4% | −1.8% | −34.8% | −19.0% | 9.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MH's financial statements (latest annual report filed June 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MH financial results
In fiscal year 2026 (ended March 31, 2026), McGraw Hill reported revenue of $2.1 billion, up 0.1% from the year before. It had net income of $35.3 million, a net profit margin of 1.7%. Diluted earnings per share came to $1.99. Over five years revenue grew at an average rate of 6.4% a year.
See the MH stock overview for the latest quote and news, or the MH chart for price history and technical indicators.
MH income statement FAQ
What is McGraw Hill's annual revenue?
McGraw Hill reported total revenue of $2.1 billion for fiscal year 2026, which ended on March 31, 2026. That was up 0.1% from $2.1 billion the previous year.
Is McGraw Hill profitable?
Yes. McGraw Hill reported net income of $35.3 million in fiscal 2026, a net profit margin of 1.7%; its operating margin was 15.0%.
What is McGraw Hill's gross margin?
McGraw Hill's gross margin was 80.9% in fiscal 2026: for every $100 of revenue, McGraw Hill kept $81 after the direct cost of its products and services.
How much does McGraw Hill spend on research and development?
McGraw Hill spent $276.3 million on research and development in fiscal 2026, 13.1% of revenue.
How fast is McGraw Hill growing?
Revenue grew 6.4% a year on average over the last five fiscal years, from $1.5 billion to $2.1 billion.
What are McGraw Hill's earnings per share?
McGraw Hill earned $1.99 per diluted share in fiscal 2026, compared with $-1.40 a year earlier.
When will McGraw Hill report its next earnings?
McGraw Hill is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does McGraw Hill's fiscal year end?
McGraw Hill's fiscal year ends in March. The latest annual report covers the year ended March 31, 2026 and was filed on June 11, 2026.