Publishing

13 members, 9468 to WLYB, A to Z by ticker.

Gross profitability: median 43% — gross profit as a share of total assets, each member's median across its readable years; read on 9 of 13 members
Capital intensity: median 1.8% — capital expenditure as a share of revenue, each member's median across its readable years; read on 13 of 13 members
Net cash: 8 of the 13 members with a readable debt line hold more cash and short-term investments than total debt

Figures describe the list as a group, from each member's own filed record; they name no member and form no rank. A member missing an input is absent from that median, never counted against the others.

From the latest filings · data as of August 17, 2026.

Open anywhere in this chapter

9468 Kadokawa

A capital-intensive business, run on heavy physical assets that must be kept working and earn a return above what they cost to maintain.

Owner earnings 2017–2026 ¥8.3B(¥4.4B)(¥505M)¥11.7B¥11.1B¥19.5B¥14.7B¥5.2B¥7.2B¥689M

Retained capital Retained ¥5.2B of earnings over 2017–2026; annual owner earnings grew ¥3.2B.

Balance sheet Net cash, +¥80.7B · dividend paid 10 of 10 yrs, never cut

DJCO Daily Journal Corp. (S.C.)

Revenue is led by License and Maintenance (36%) and Consulting Fees (26%), with 4 more lines behind.

Owner earnings 2016–2025 ($3M)($3M)($2M)$1M$2M$3M($5M)$15M($138K)$13M

Retained capital Retained $288M of earnings over 2016–2025; annual owner earnings grew $12M, $0.04 per $1 retained.

Balance sheet Net cash, +$514M

MH McGraw Hill Inc.

McGraw Hill is a leading global provider of education solutions for K-12, higher education and professional learning markets.

Owner earnings 2024–2026 $154M$575M$246M

Retained capital not read

Balance sheet Heavy net debt, $2.3B

MKTW MarketWise Inc.

We are a leading multi-brand platform of subscription businesses that provides premium financial research, software, education, and tools for self-directed investors.

Owner earnings 2019–2025 $54M$56M$63M$48M$62M($22M)$46M

Retained capital Paid out $1.5B more than it earned over 2019–2025; annual owner earnings fell $29M.

Balance sheet Net cash, debt-free, +$70M · buybacks at an average near $22.58 · dividend paid 3 of 7 yrs, cut at least once

NWS News Corporation

News Corporation is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services to consumers and businesses throughout the world.

Owner earnings 2017–2026 $238M$393M$356M$342M$847M$855M$745M$741M$571M$811M

Retained capital Paid out $3.3B more than it earned over 2017–2026; annual owner earnings grew $379M.

Balance sheet Net cash, +$106M · buybacks at an average near $23.37 · dividend paid 10 of 10 yrs, never cut

NWSA News Corp

Owner earnings 2017–2026 $238M$393M$356M$342M$847M$855M$745M$741M$571M$811M

Retained capital Paid out $3.3B more than it earned over 2017–2026; annual owner earnings grew $379M.

Balance sheet Net cash, +$106M · buybacks at an average near $23.37 · dividend paid 10 of 10 yrs, never cut

NYT New York Times Company (The)

Revenue is Subscription (69%), Advertising (20%) and Affiliate, licensing and other (11%).

Owner earnings 2016–2025 $74M$25M$98M$144M$263M$234M$114M$338M$381M$551M

Retained capital Retained $734M of earnings over 2016–2025; annual owner earnings grew $358M, $0.49 per $1 retained.

Balance sheet Net cash, +$211M · buybacks at an average near $40.71 · dividend paid 10 of 10 yrs, never cut

PSO Pearson Plc

Revenue is led by Assessments and Qualifications (45%) and Higher Education (22%), with 3 more segments behind.

Owner earnings 2016–2021 £322M£216M£392M£314M£336M£262M

Retained capital Paid out £2.0B more than it earned over 2016–2021; annual owner earnings fell £6M.

Balance sheet Meaningful net debt, £1.1B · dividend paid 6 of 6 yrs, cut at least once

SCHL Scholastic Corporation

Scholastic Corporation is the world's largest publisher and distributor of children's books, a leading provider of print and digital instructional materials for grades pre-kindergarten to grade 12 and a producer of entertaining literary and educational children's media.

Owner earnings 2017–2026 $76M$20M$21M($61M)$24M$184M$87M$96M$72M$3M

Retained capital Paid out $714M more than it earned over 2017–2026; annual owner earnings grew $18M.

Balance sheet Net cash, +$53M · dividend paid 10 of 10 yrs, never cut

TDAY USA TODAY Co. Inc.

A diversified business; where the profit really comes from, and whether it is earned or bought, is what the segment detail settles.

Owner earnings 2016–2025 $84M$99M$98M$12M$21M$88M($5M)$56M$51M$63M

Retained capital Paid out $1.3B more than it earned over 2016–2025; annual owner earnings fell $37M.

Balance sheet Net debt against an operating loss, $864M · dividend paid 4 of 10 yrs, cut at least once

WBTN WEBTOON Entertainment Inc.

WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content.

Owner earnings 2022–2025 ($143M)$5M$15M$4M

Retained capital not read

Balance sheet Net cash, debt-free, +$582M

WLY John Wiley & Sons Inc.

An asset-light business: the value sits in intellectual property and people, not plant, so the question is how durable the advantage is, not how high the margin.

Owner earnings 2017–2026 $210M$268M$174M$200M$283M$250M$196M$132M$141M$209M

Retained capital Paid out $420M more than it earned over 2017–2026; annual owner earnings fell $57M.

Balance sheet Meaningful net debt, $608M · dividend paid 10 of 10 yrs, never cut

WLYB John Wiley & Sons Inc.

An asset-light business: the value sits in intellectual property and people, not plant, so the question is how durable the advantage is, not how high the margin.

Owner earnings 2017–2026 $210M$268M$174M$200M$283M$250M$196M$132M$141M$209M

Retained capital Paid out $420M more than it earned over 2017–2026; annual owner earnings fell $57M.

Balance sheet Meaningful net debt, $608M · dividend paid 10 of 10 yrs, never cut

The same shelf as one comparative table, every member a row and every column sortable: the Publishing table →

The same four lines for every member, in strict ticker order; a figure that could not be read renders as "not read," never as a mark against the record beside it. The header describes the list and names no member; the entries carry no ranking and form no score. What a chapter cannot carry — understanding of the business, and a price — is yours.