McGraw Hill (MH) Cash Flow: Operating & Free Cash Flow

McGraw Hill Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for McGraw Hill, Inc. (MH) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Dec 2018	Dec 2017	Dec 2016
Operating Activities
Net Income	0.04	-0.09	-0.19	-0.40	-0.62	0.04	-0.14	-0.16	-0.07	-0.14
Depreciation & Amortization	0.31	0.31	0.37	0.37	0.34	0.12	0.26	0.24	0.25	0.24
Deferred Income Tax	0.00	0.00	-0.03	-0.06	0.00	0.00	0.00	0.00	0.00	0.00
Stock Based Compensation	0.03	0.00	0.00	0.00	0.08	0.01	0.01	0.02	0.01	0.01
Change in Working Capital	-0.29	0.23	-0.11	-0.12	-0.21	0.03	-0.04	-0.07	-0.09	-0.10
Change in Accounts Receivable	-0.02	-0.01	-0.04	-0.05	-0.01	0.02	0.00	-0.08	0.00	0.00
Change in Inventory	-0.03	0.03	0.00	-0.09	-0.03	0.00	-0.01	-0.05	-0.01	-0.03
Change in Accounts Payable	-0.02	0.09	-0.05	0.00	0.00	0.06	0.00	0.00	0.00	0.00
Change in Other Working Capital	-0.21	-0.04	0.13	0.02	-0.17	0.16	-0.03	0.06	-0.07	-0.07
Other Operating Activities	0.25	0.20	0.13	0.47	0.61	0.16	0.16	0.12	0.15	0.18
Net Cash from Operating Activities	0.33	0.65	0.24	0.26	0.21	0.40	0.26	0.16	0.26	0.20
Investing Activities
Capital Expenditures	-0.08	-0.07	-0.16	-0.14	-0.03	-0.11	-0.07	-0.06	-0.05	-0.04
Acquisitions	0.00	-0.01	0.00	-0.02	-5.27	-0.01	0.00	0.00	0.00	-0.01
Other Investing Activities	-0.12	-0.09	-0.05	0.00	-0.02	-0.08	-0.07	-0.10	-0.09	-0.09
Net Cash from Investing Activities	-0.20	-0.17	-0.14	-0.16	-5.32	-0.11	-0.15	-0.16	-0.14	-0.14
Financing Activities
Debt Repayment	-0.65	-0.92	-0.11	-0.12	3.57	-0.83	-0.11	-0.05	-0.13	0.18
Common Stock Issued	0.39	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.01	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.30
Other Financing Activities	-0.01	-0.02	0.00	-0.09	1.49	-0.02	0.00	0.00	-0.01	-0.06
Net Cash from Financing Activities	-0.26	-0.29	-0.08	-0.20	5.06	-0.11	-0.11	-0.05	-0.14	-0.19
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.00	0.25	0.00	-0.01	0.00	0.00	0.00
Net Change in Cash	-0.14	0.19	0.02	-0.11	0.19	0.17	-0.21	-0.06	-0.01	-0.13
Cash at Beginning of Period	0.39	0.20	0.18	0.30	0.35	0.19	0.40	0.41	0.42	0.55
Cash at End of Period	0.25	0.39	0.20	0.18	0.54	0.35	0.19	0.35	0.41	0.42
Free Cash Flow	0.25	0.58	0.08	0.12	0.18	0.29	0.19	0.09	0.22	0.16
Supplemental Disclosures
Interest Paid	-	0.27	0.33	0.26	0.18	0.15	-	-	-	-
Income Taxes Paid	-	0.05	0.04	0.02	0.02	0.01	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About McGraw Hill Cash Flow

What is McGraw Hill's free cash flow?

McGraw Hill generated free cash flow of $246.31M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of $331.17M minus $84.86M of capital expenditures. That was down 57.2% from $575.22M a year earlier. Free cash flow equaled 11.7% of revenue.

How much does McGraw Hill spend on capital expenditures?

McGraw Hill spent $84.86M on capital expenditures in fiscal 2026, compared with $71.06M a year earlier. That equals 25.6% of operating cash flow.

Does McGraw Hill pay dividends or buy back shares?

McGraw Hill's cash flow statement for fiscal 2026 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition