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HMHC Houghton Mifflin Harcourt

Houghton Mifflin Harcourt is a learning technology company committed to delivering connected solutions that engage learners, empower educators and improve student outcomes. As a leading provider of K-12 core curriculum, supplemental and intervention solutions and professional learning services, HMH partners with educators and school districts to uncover solutions that unlock students' potential and extend teachers' capabilities. HMH serves more than 50 million students and 3 million educators in 150 countries, while its award-winning children's books, novels, non-fiction, and reference titles are enjoyed by readers throughout the world.

Company profile

Ticker
HMHC
Exchange
Website
CEO
John J. Lynch
Employees
Incorporated
Location
Fiscal year end
Former names
HMH Holdings (Delaware), Inc.
SEC CIK
Subsidiaries
Greenwood Publishing Group, LLC. • HMH Intermediate Holdings • HMH IP Company Unlimited Company • HMH Publishers LLC • Houghton Mifflin Company International, Inc. • Houghton Mifflin Harcourt IP LLC • Houghton Mifflin Harcourt Publishers, Inc. • Houghton Mifflin Harcourt Publishing Company • Tribal Nova, Inc. ...
IRS number
271566372

HMHC stock data

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Calendar

4 Nov 21
6 Dec 21
31 Dec 21
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 420.32M 420.32M 420.32M 420.32M 420.32M 420.32M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 2.25M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a n/a 5.03M n/a n/a
Cash remaining n/a n/a n/a 415.29M n/a n/a
Runway (months of cash) n/a n/a n/a 184.4 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Nov 21 Evans Michael Edmund Common Stock Sell Dispose S No No 17.5 2,229 39.01K 31,068
5 Nov 21 Evans Michael Edmund Common Stock Option exercise Acquire M No No 0 5,930 0 33,297
5 Nov 21 Evans Michael Edmund RSU Common Stock Option exercise Dispose M No No 0 5,930 0 5,930
9 Sep 21 Killian John F Phantom Stock Units Common Stock Grant Acquire A No No 0 1,075 0 8,391
17 Jun 21 Killian John F Phantom Stock Units Common Stock Grant Acquire A No No 0 1,341 0 7,316
31 May 21 Jean-Claude Brizard RSU Common Stock Grant Acquire A No No 0 11,066 0 11,066
31 May 21 Crovitz L Gordon Common Stock Option exercise Acquire M No No 0 12,500 0 81,606
31 May 21 Crovitz L Gordon Phantom Stock Common Stock Grant Acquire A No No 0 55,556 0 55,556
31 May 21 Crovitz L Gordon RSU Common Stock Option exercise Dispose M No No 0 55,556 0 0
31 May 21 Crovitz L Gordon RSU Common Stock Grant Acquire A No No 0 11,066 0 11,066

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

85.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 161 151 +6.6%
Opened positions 31 45 -31.1%
Closed positions 21 23 -8.7%
Increased positions 46 46
Reduced positions 65 48 +35.4%
13F shares
Current Prev Q Change
Total value 1.46B 1.39B +5.1%
Total shares 108.65M 125.82M -13.6%
Total puts 431.4K 634.5K -32.0%
Total calls 432K 557.3K -22.5%
Total put/call ratio 1.0 1.1 -12.3%
Largest owners
Shares Value Change
Wellington Management 15.56M $209.01M -0.9%
Burgundy Asset Management 10.85M $145.75M +2.9%
BLK Blackrock 8.41M $112.97M -0.1%
Alliancebernstein 7.55M $101.35M -13.0%
Vanguard 6.62M $88.95M -1.1%
BK Bank Of New York Mellon 5.57M $74.78M -8.5%
Nuveen Asset Management 3.66M $49.13M -16.3%
Dimensional Fund Advisors 3.39M $45.52M +2.1%
Engine Capital Management 3.02M $40.55M +7.5%
Rubric Capital Management 2.73M $36.64M -27.0%
Largest transactions
Shares Bought/sold Change
Assenagon Asset Management 364.58K -1.44M -79.8%
Mason Hill Advisors 0 -1.33M EXIT
Shannon River Fund Management 0 -1.33M EXIT
Kylin Management 0 -1.33M EXIT
Mangrove Partners 0 -1.33M EXIT
Armor Advisors, L.L.C. 0 -1.33M EXIT
Boardman Bay Capital Management 0 -1.33M EXIT
Albar Capital 0 -1.33M EXIT
Sonic Fund II 0 -1.33M EXIT
Yarra Square Partners 0 -1.33M EXIT

Financial report summary

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Risks
  • Our business and results of operations may be adversely affected by changes in federal, state and local education funding, and changes in legislation and public policy.
  • Changes in state academic standards could affect our market and require investment in development of new programs or modifications to our existing programs and any delays or controversies in the implementation of such standards could impact our results of operations.
  • We operate in a highly competitive environment where the risks from competition are intensified due to rapid changes in our markets and industry; as a result, we must continue to adapt to remain competitive.
  • The availability of free and low-cost open education resources could adversely affect our net sales and exert downward pressure on prices for our education products.
  • If we fail to maintain strong relationships with our authors, illustrators and other creative talent, as well as to develop relationships with new creative talent, our net sales and results of operations could be adversely affected.
  • If we are unable to attract, retain and focus a strong leadership team, a dynamic sales force, software engineers and other key personnel, it could have an adverse effect on our business and ability to remain competitive, financial condition and results from operations.
  • We have announced our intent to explore a sale of our HMH Books & Media business, and such proposed divestiture may introduce significant risks and uncertainties.
  • We may not be able to execute on our long-term growth strategy or achieve expected benefits from actions taken in furtherance of our strategy, which could materially and adversely affect our business, financial condition and results of operations and/or our growth.
  • Our investments in new products, service offerings, platforms and/or technologies could impact our profitability.
  • We rely on third-party software and technology development as part of our digital platform.
  • Defects in our digital products and platforms could cause financial loss and reputational damage.
  • We are dependent on a small number of third parties to print and bind our products and to supply paper, a principal material for our products. If we were to lose our relationship with our key print vendor and/or paper merchant, our business and results of operations may be materially and adversely affected.
  • Operational disruption to our business caused by a major disaster or other external threats could restrict our ability to supply products and services to our customers.
  • We are subject to risks based on information technology systems. A major breach in security or information technology system failure could interrupt the availability of our internet-based products and services, result in corruption and/or loss of data, cause liability or reputational damage to our brands and business and/or result in financial loss.
  • Failure to prevent or detect a malicious cyber-attack on our information technology systems could result in liability, reputational damage, loss of revenue and/or financial loss.
  • Our operating results fluctuate on a seasonal and quarterly basis and our business has historically been dependent on our results of operations for the third quarter.
  • Our major operating costs and expenses include employee compensation as well as paper, printing and binding costs and expenses for product-related manufacturing, and a significant increase in such costs and expenses could have a material adverse effect on our profitability.
  • We are subject to contingent liabilities that may affect liquidity and our ability to meet our obligations.
  • We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
  • We may record future goodwill or additional indefinite-lived intangibles impairment charges related to our reporting units, which could have a material adverse impact on our results of operations.
  • A change from up-front payment by school districts for multi-year programs and actions taken in furtherance of our long-term growth strategy could adversely affect our cash flow.
  • The shift to sales of greater digital content or an increase in consumable print core programs may affect the comparability of our revenue to prior periods and cause increases or decreases in our sales to be reflected in our results of operations on a delayed basis.
  • Our ability to enforce our intellectual property and proprietary rights may be limited, which may harm our competitive position and materially and adversely affect our business and results of operations.
  • Failure to comply with privacy laws or adequately protect personal data could cause financial loss and reputational damage.
  • We may not be able to identify and complete any future acquisitions or achieve the expected benefits from any future acquisitions, which could materially and adversely affect our business, financial condition and results of operations and/or our growth.
  • Exposure to litigation could have a material effect on our financial position and results of operations.
  • We face risks of doing business abroad.
Content analysis
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Positive
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Uncertain
Constraining
Legalese
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Readability
H.S. sophomore Avg
New words: cultivate, excellence, slight
Removed: acquisition, ascertain, assigned, begin, clarity, complaint, entitlement, exact, filed, historic, modified, originally, pace, planning, Scholastic, trademark, transferring, University, Vanderbilt, wholly