MH FY 2021 Earnings Report — McGraw Hill, Inc. Revenue & Financial Results | Market Cap Arena

McGraw Hill, Inc.MH

FY 2021 Earnings

Reported March 31, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.6B	—	-2.5%
Op. Income	$250M	—	$55M	—	352.0%
Gross Margin	78.2%	—	77.4%	—	0.8pp
Net Margin	2.9%	—	-8.5%	—	11.4pp
EPS (Diluted)	$3.86	—	$-11.77	—	132.8%
Free Cash Flow	$287M	—	$190M	—	51.5%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$337M
GROSS PROFIT	$1.2B
R&D Expenses	$35M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$809M
Other Expenses	$114M
Operating Expenses	$959M
Cost & Expenses	$1.3B
OPERATING INCOME	$250M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$191M
INCOME BEFORE TAX	$59M
Income Tax Expense	$14M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$85M
EBIT	$279M
EBITDA	$364M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$337M
GROSS PROFIT	$1.2B
R&D Expenses	$35M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$809M
Other Expenses	$114M
Operating Expenses	$959M
Cost & Expenses	$1.3B
OPERATING INCOME	$250M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$191M
INCOME BEFORE TAX	$59M
Income Tax Expense	$14M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$85M
EBIT	$279M
EBITDA	$364M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$45M
Depreciation & Amortization	$120M
Stock-Based Compensation	$7M
Deferred Income Tax	$4M
Other Non-Cash Items	$193M
Change in Working Capital	$26M
OPERATING CASH FLOW	$395M
Capital Expenditure	-$108M
Acquisitions (Net)	-$5M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$113M
Net Debt Issuance	-$92M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$20M
NET CASH FROM FINANCING	-$112M
FREE CASH FLOW	$287M
Net Change in Cash	$167M

Balance Sheet

Item	Amount
Cash & Equivalents	$354M
Short-Term Investments	$0
Net Receivables	$231M
Inventory	$154M
Other Current Assets	$8M
TOTAL CURRENT ASSETS	$844M
PP&E (Net)	$196M
Goodwill	$501M
Intangible Assets	$442M
Long-Term Investments	$6M
Tax Assets	$0
Other Non-Current Assets	$338M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$2.3B
Account Payables	$128M
Short-Term Debt	$14M
Deferred Revenue	$0
Other Current Liabilities	$674M
TOTAL CURRENT LIABILITIES	$970M
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$653M
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$3.8B
Common Stock	$106.0K
Additional Paid-In Capital	$57M
Retained Earnings	-$1.5B
Treasury Stock	-$25M
Accum. Other Comp. Income	-$48M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$1.5B
Minority Interest	$0
TOTAL EQUITY	-$1.5B
TOTAL LIABILITIES & EQUITY	$2.3B
Total Debt	$2.2B
Net Debt	$1.9B