If you curl up routinely with BusinessWeek, you may think of McGraw-Hill (NYSE:MHP) as a media company, and you're probably amazed by its third-quarter results when other large media companies -- like McClatchy (NYSE:MNI) -- seem to be sliding. However, that's the smallest slice of the company's revenue pie, which also includes financial-services and education segments.

For the quarter, the Inside Value pick earned $452 million, up 18% from $382 million a year ago. Diluted per-share earnings were $1.34, versus $1.06 -- with last year's results including a $0.03 restructuring charge. The company's revenue increased nearly 10% to $2.19 billion, from $1.99 billion last year.

Revenue for the education unit, which produces textbooks and other education materials for all levels of students and professionals, grew by 9.9% to $1.2 billion in the quarter, while operating profit for the unit was up by 16.1%. The third quarter is a big one for this segment because it includes the beginning of the school year.

At the same time, financial services -- which includes Standard & Poor's research, indexes, and ratings -- grew its revenue by 12.5% to $759.6 million. While structured finance and mortgage-backed securities were affected by the credit market and subprime woes, the segment's international exposure helped offset the domestic effects.

The information and media group increased its revenue by 2.1% to $252.4 million. In addition to BusinessWeek, this sector includes business brands such as Platts, J.D. Power and Associates, McGraw-Hill Construction, and Aviation Week.

So McGraw-Hill, which did begin as a media company, isn't suffering the same travails as New York Times (NYSE:NYT) or Gannett (NYSE:GCI), for instance. In fact, if a comparable company were to be found for McGraw-Hill in the media space, it likely would be Dow Jones (NYSE:DJ), which also caters to the business and financial community and similarly had a solid quarter.

Beyond that, and especially in a time of crunching credit, all three of McGraw-Hill's units combine to provide strong revenue underpinnings and steady earnings growth. And with its combination of a harp-section high 50% trailing return on equity and a forward dividend yield of 1.6%, it seems to me that there's a lot to like about the company.

On these bases, and with a market that has taken to flip-flopping somewhat menacingly on an almost daily basis, McGraw-Hill represents an attractive combination of expanding businesses and attractive metrics. I believe it should stand out on the radar screens of value-oriented Fools.

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McGraw-Hill is a spanking new addition to the Motley Fool Inside Value portfolio and is trading well below its intrinsic value determined by our newsletter team. Learn more about the company and its prospects, as well as other value plays, with a free 30-day trial to the service.  

Fool contributor David Lee Smith, an inveterate BusinessWeek reader, doesn't own shares in any of the companies mentioned. He does welcome your questions or comments. The Motley Fool has a disclosure policy.