GHC (Graham Holdings Co) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

GHC Graham Holdings Co GHC
90 GF Score
Price $1,146.11
GF Value $1,009.26
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Graham Holdings Co Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Graham Holdings Co  (NYSE:GHC) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Graham Holdings Co Cyclically Adjusted PS Ratio Related Terms


Graham Holdings Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Graham Holdings Co's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Graham Holdings Co Cyclically Adjusted PS Ratio Chart

Graham Holdings Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.11 0.98 1.04 1.18 1.35

Graham Holdings Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.20 1.46 1.34 1.25 1.31

GHC vs OTTR, SEB, DLX: Cyclically Adjusted PS Ratio Comparison

For the Conglomerates subindustry, Graham Holdings Co's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Graham Holdings Co Cyclically Adjusted PS Ratio vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Graham Holdings Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Graham Holdings Co's Cyclically Adjusted PS Ratio falls into.


GHC
90GF Score
Graham Holdings Co GHC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Graham Holdings Co Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Graham Holdings Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Graham Holdings Co's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=302.276/333.9520*333.9520
=302.276

Current CPI (Jun. 2026) = 333.9520.

Graham Holdings Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 111.525 241.428 154.265
201612 113.315 241.432 156.739
201703 104.636 243.801 143.328
201706 121.228 244.955 165.273
201709 118.334 246.819 160.109
201712 122.675 246.524 166.181
201803 120.489 249.554 161.238
201806 125.453 251.989 166.258
201809 126.432 252.439 167.257
201812 129.803 251.233 172.541
201903 129.966 254.202 170.740
201906 138.413 256.143 180.459
201909 138.641 256.759 180.323
201912 143.403 256.974 186.360
202003 138.843 258.115 179.637
202006 125.528 257.797 162.610
202009 141.361 260.280 181.373
202012 157.971 260.474 202.534
202103 143.140 264.877 180.468
202106 160.713 271.696 197.539
202109 162.635 274.310 197.996
202112 175.321 278.802 210.001
202203 187.251 287.504 217.503
202206 192.751 296.311 217.237
202209 210.049 296.808 236.336
202212 222.322 296.797 250.154
202303 215.985 301.836 238.966
202306 234.458 305.109 256.622
202309 241.530 307.789 262.061
202312 258.430 306.746 281.351
202403 258.618 312.332 276.520
202406 269.321 314.175 286.274
202409 275.356 315.301 291.644
202412 286.985 315.605 303.668
202503 267.534 319.799 279.374
202506 278.018 322.561 287.836
202509 292.110 324.800 300.341
202512 285.686 324.054 294.412
202603 282.512 330.213 285.711
202606 302.276 333.952 302.276

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Graham Holdings Co (GHC) Overvalued in 2026?

Based on GuruFocus' analysis, Graham Holdings Co stock appears to be overvalued. The current stock price of $1,146.11 is trading 13.6% above its estimated GF Value™ of $1,009.26. GuruFocus considers Graham Holdings Co to be Modestly Overvalued.

Key valuation signals for GHC:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $1,009.26 vs. price of $1,146.11 (13.6% above fair value)
  • GF Score™: 90/100 with 8 warning signs

No single metric tells the full story. See the GHC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Graham Holdings Co Business Description

Other Exchanges WPOB:Germany
Address 1812 North Moore Street, Arlington, VA, USA, 22209
Graham Holdings Company is a diversified holding company with operations spanning educational services, television broadcasting, healthcare, manufacturing, automotive dealerships, and other businesses. The Company's education activities are conducted through Kaplan, whose services include academic preparation programs for international students, English-language programs, exam preparation, and career and academic advisement. These services are provided to students, schools, and colleges, both domestically and outside the United States. It operates through seven reportable segments: Kaplan International, Kaplan Higher Education, Kaplan Supplemental Education, Television Broadcasting, CSI, Manufacturing and Automotive, with key revenue coming from the Education and Automotive segments.
90GF Score

Get the complete analysis for GHC

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$1,146.11
Price
$1,009.26
GF Value