Gray Media, Inc (GTN)
Gray Media, Inc., a multimedia company, owns and/or operates local television stations and digital assets in the United States. The company operates through Broadcasting, Production Companies, and Other segments. It also owns Gray Digital Media, a digital agency that provides clients with digital marketing strategies; and operates video production companies and studio production facilities. The company was formerly known as Gray Television, Inc. and changed its name to Gray Media, Inc. in July 2002. Gray Media, Inc. was founded in 1891 and is headquartered in Atlanta, Georgia.
- Symbol
- GTN
- Exchange
- NYSE
- Sector
- Communication Services
- Industry
- Broadcasting
- Market cap
- $448.84M
- 52 week range
- 3.55 - 6.44
Valuation
- Share price
- $4.58 (close of 2026-09-23)
- P/E (TTM)
- -7.63x
- Price to book
- 0.21x
- Price to free cash flow
- 3.07x
- Enterprise value
- $6.16B
- Book value per share
- $21.71
Price performance
| Period | Change |
|---|
| 1 day | -0.87% |
| 5 days | -4.18% |
| 1 month | -7.29% |
| 3 months | +16.54% |
| 6 months | -4.98% |
| Year to date | -5.37% |
| 1 year | -21.71% |
| 3 years | -35.49% |
| 5 years | -79.61% |
| 10 years | -54.25% |
| All time | -61.02% |
Profitability and growth
- Return on equity
- -3.94%
- Return on invested capital
- 5.16%
- Return on assets
- -0.81%
- Return on capital employed
- 3.95%
- Gross margin
- 12.67%
- Net margin
- -2.75%
- EBITDA margin
- 20.32%
- Revenue growth
- -15.07%
- Net income growth
- -122.67%
- Free cash flow growth
- -70.23%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 32.53%
- Current ratio
- 0.95x
- Net debt to EBITDA
- 8.50x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $3.10B
- Cost of revenue
- $2.70B
- Gross profit
- $392.00M
- EBITDA
- $629.00M
- Net income
- $-85.00M
- Earnings per share
- $-1.41
- Shares outstanding
- 97.00M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $3.10B | $392.00M | $-85.00M | $-1.41 |
| 2024-12-31 | $3.64B | $851.00M | $375.00M | $3.40 |
| 2023-12-31 | $3.28B | $383.00M | $-76.00M | $-1.39 |
| 2022-12-31 | $3.68B | $990.00M | $455.00M | $4.38 |
| 2021-12-31 | $2.41B | $540.00M | $90.00M | $0.40 |
| 2020-12-31 | $2.38B | $817.00M | $410.00M | $3.73 |
| 2019-12-31 | $2.12B | $582.00M | $179.00M | $1.28 |
| 2018-12-31 | $1.08B | $430.00M | $211.00M | $2.39 |
| 2017-12-31 | $883.00M | $322.00M | $262.00M | $3.59 |
| 2016-12-31 | $812.47M | $274.62M | $62.27M | $0.87 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 12.67% | -2.75% | -3.94% | 5.16% |
| 2024-12-31 | 23.35% | 10.29% | 16.43% | 9.36% |
| 2023-12-31 | 11.67% | -2.32% | -3.86% | 4.68% |
| 2022-12-31 | 26.93% | 12.38% | 21.50% | 9.68% |
| 2021-12-31 | 22.38% | 3.73% | 5.12% | 3.61% |
| 2020-12-31 | 34.31% | 17.22% | 23.39% | 12.33% |
| 2019-12-31 | 27.43% | 8.44% | 12.23% | 8.04% |
| 2018-12-31 | 39.67% | 19.46% | 17.78% | 10.16% |
| 2017-12-31 | 36.47% | 29.67% | 26.36% | 12.24% |
| 2016-12-31 | 33.80% | 7.66% | 12.63% | 9.92% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $368.00M | $5.74B |
| 2024-12-31 | $135.00M | $5.60B |
| 2023-12-31 | $21.00M | $6.14B |
| 2022-12-31 | $61.00M | $6.44B |
| 2021-12-31 | $189.00M | $6.74B |
| 2020-12-31 | $773.00M | $3.97B |
| 2019-12-31 | $212.00M | $3.70B |
| 2018-12-31 | $667.00M | $2.55B |
| 2017-12-31 | $462.40M | $1.83B |
| 2016-12-31 | $325.19M | $1.76B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $181.00M | $22.00M |
| 2024-12-31 | $608.00M | $22.00M |
| 2023-12-31 | $300.00M | $20.00M |
| 2022-12-31 | $393.00M | $22.00M |
| 2021-12-31 | $93.00M | $14.00M |
| 2020-12-31 | $542.00M | $16.00M |
| 2019-12-31 | $275.00M | $16.00M |
| 2018-12-31 | $253.00M | $7.00M |
| 2017-12-31 | $145.00M | $9.00M |
| 2016-12-31 | $166.48M | $5.10M |
Dividend history
- Most recent payment
- 2026-09-15
- Paid in the last twelve months
- $0.32
| Payment date | Dividend per share |
|---|
| 2026-09-15 | $0.08 |
| 2026-06-15 | $0.08 |
| 2026-03-13 | $0.08 |
| 2025-12-15 | $0.08 |
| 2025-09-15 | $0.08 |
| 2025-06-13 | $0.08 |
| 2025-03-14 | $0.08 |
| 2024-12-13 | $0.08 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-06
- Consensus EPS estimate
- $0.81
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-07 | Jun/2026 | - |
| 2026-05-07 | - | - |
| 2026-02-26 | - | - |
| 2025-11-07 | - | - |
| 2025-08-08 | - | - |
| 2025-05-08 | - | - |
| 2025-02-27 | - | - |
| 2024-11-08 | - | - |
Filings and sources
- Company website
- graymedia.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
Similar companies
Omnicom Group Inc. (OMC) · Take-Two Interactive Software Inc (TTWO) · Roblox Corp (RBLX) · Netflix Inc (NFLX) · Walt Disney Co (DIS) · Warner Bros. Discovery, Inc. (WBD) · Live Nation Entertainment, Inc. (LYV) · Fox Corp (FOXA)
All Communication Services companies
Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
Explore
Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades