McGraw Hill (MH) Q2 FY2027 earnings: revenue $632 million, down 5.5% on the year
McGraw Hill, Inc. (MH) reported revenue of $632 million for Q2 FY2027, the quarter ended 30 September 2026, down 5.5% on the same quarter a year earlier. Net income was $86 million, down 18.0% on the year, and diluted earnings per share $0.45. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.
Revenue
$632 million
-5.5% on the year · +15.0% on the quarter
Q3 FY2025Q2 FY2027
Operating margin
22.3%
23.4% a year earlier
Q3 FY2025Q2 FY2027
Net income
$86 million
-18.0% on the year · +49.3% on the quarter
Q3 FY2025Q2 FY2027
Diluted EPS
$0.45
-21.1% on the year · +50.0% on the quarter
Q3 FY2025Q2 FY2027
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 4 kept.
Revenue fell 5.5 percent: Second-quarter revenue was $632.2 million against $669.2 million a year earlier. Year-to-date revenue was $1,182.1 million, down 1.9 percent. Management described the quarter as favorable to expectations.
Adjusted EBITDA margin 39.6 percent: Adjusted EBITDA was $250.6 million against $286.4 million, a margin of 39.6 percent against 42.8 percent. Year-to-date margin was 38.7 percent against 39.7 percent.
K-12 revenue down 9.6 percent: K-12 revenue was $324.6 million against $359.1 million a year earlier. First-half K-12 revenue was nearly $600 million, down 4.9 percent.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q2 FY2027
Q1 FY2027
Q2 FY2026
On the quarter
On the year
Last 8 quarters
Operating cash flow
189
0.6
265
+31,427.3%
-28.5%
Capital expenditure
25.4
23.9
21.2
+6.1%
+19.8%
Free cash flow
164
-23.3
244
-32.7%
Free cash flow margin
26.0%
-4.2%
36.4%
Cash from investing
-94.1
-58.3
-47.5
Cash from financing
-55.8
-3.1
-1.0
Depreciation and amortisation
98.3
83.5
92.8
+17.8%
+5.9%
Share-based compensation
1.7
3.9
31.1
-57.3%
-94.7%
Diluted shares, weighted
191m
191m
186m
+0.1%
+3.0%
Shares outstanding at period end
191m
191m
191m
+0.0%
+0.2%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2027
Q1 FY2027
Q2 FY2026
On the quarter
On the year
Last 8 quarters
Shareholders' equity
877
788
795
+11.2%
+10.4%
Debt
2,527
2,574
2,797
-1.9%
-9.7%
Operating lease liabilities
54.9
55.9
62.3
-1.8%
-11.9%
Other liabilities
2,251
1,960
2,392
+14.9%
-5.9%
Total liabilities and equity
5,710
5,379
6,045
+6.2%
-5.5%
Goodwill
2,544
2,523
2,558
+0.8%
-0.5%
Cash and equivalents
233
194
463
+20.3%
-49.7%
Receivables
645
378
667
+70.6%
-3.3%
Inventory
159
183
133
-13.0%
+19.9%
Other assets
2,129
2,101
2,225
+1.3%
-4.3%
Total assets
5,710
5,379
6,045
+6.2%
-5.5%
Questions
What was McGraw Hill's revenue in Q2 FY2027?
McGraw Hill (MH) reported revenue of $632 million for Q2 FY2027, the quarter ended 30 September 2026, down 5.5% on the same quarter a year earlier.
How much did McGraw Hill earn in Q2 FY2027?
Net income for Q2 FY2027 was $86 million, down 18.0% on the year, and diluted earnings per share $0.45.
When did McGraw Hill report Q2 FY2027 results?
McGraw Hill filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.