McGraw Hill, Inc.
MH Consumer Defensive Education & Training Services
McGraw Hill, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.1 billion, roughly unchanged from fiscal 2025. In the quarter to June 2026, revenue grew 2.65%, EPS grew 9,900.0%, free cash flow grew 57.5% and total debt fell 19.0%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
Follow MH
McGraw Hill, Inc. (MH) Beneish M-score
McGraw Hill, Inc.'s Beneish M-score for fiscal 2026 is −2.64; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.64 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.07 | — | 0.98 | |
| Gross margin index | 0.99 | — | 0.52 | |
| Asset quality index | 1.01 | — | 0.41 | |
| Sales growth index | 1.00 | — | 0.89 | |
| Depreciation index | 1.00 | — | 0.11 | |
| SG&A index | 1.01 | — | −0.17 | |
| Total accruals to total assets | (0.05) | — | −0.25 | |
| Leverage index | 0.89 | — | −0.29 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.64 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| LOPE Grand Canyon Education, Inc. compare | −2.7× |
| CVSA Covista Inc. compare | −2.7× |
| MH McGraw Hill, Inc. | −2.6× |
| PRDO Perdoceo Education Corporation compare | −2.6× |
| STRA Strategic Education Inc. compare | −2.5× |
| LRN Stride, Inc. compare | −2.4× |
| LAUR Laureate Education compare | −2.4× |
| GHC Graham Holdings Company compare | −2.4× |
| TAL TAL Education Group compare | −2.1× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI