Gray Media, Inc
GTN NYSE· Television Broadcasting Stations
Last close · Oct 23, 2026
$4.58
KIRA · Stoqly’s AI analyst, in plain words
- Gray Media, Inc had $3.1B of revenue in fiscal 2025, down 15.1% on the year before. Over five years, revenue changed +5.4% a year on average.
- Its operating margin was 12.7%, down 10.7 pts: of every 100 in sales, about 13 is left after running the business.
- Gray Media, Inc lost $85.0M in fiscal 2025.
- Free cash flow was $181M in fiscal 2025, 5.8% of revenue.
- Gray Media, Inc returned $33.0M to shareholders in fiscal 2025, 18% of free cash flow. The diluted share count rose 1.0%.
- Gray Media, Inc owes $5.3B more than it holds in cash, about 8.5 years of operating profit.
Market cap
$458M
P/E
—
Revenue
$3.1B
Net income
−$85.0M
Free cash flow
$181M
Operating margin
12.7%
Gray Media, Inc in 30 seconds · fiscal 2025
Are sales growing?
−15.1%
No. Sales fell 15.1% last year.
Does it make a profit?
−2.7%
No. It lost money last year.
Does profit turn into cash?
5.8%
Partly. 5.8% of sales ends up as free cash.
Is debt under control?
8.5x
Heavy. Repaying its debt would take 8.5 years of operating profit.
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Gray Media, Inc does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- GRAY MEDIA, INC
- CIK
- 0000043196
Gray Media, Inc · GTN
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $2.4B | $3.7B | $3.3B | $3.6B | $3.1B |
| Revenue growth | 1.3% | 52.3% | −10.7% | 11.1% | −15.1% |
| Operating margin | 15.8% | 26.9% | 11.7% | 23.4% | 12.7% |
| Net income | $90.0M | $455M | −$76.0M | $375M | −$85.0M |
| Net margin | 3.7% | 12.4% | −2.3% | 10.3% | −2.7% |
| Diluted EPS | $0.40 | $4.33 | −$1.39 | $3.36 | −$1.41 |
| Cash | |||||
| Cash from operations | $300M | $829M | $648M | $751M | $289M |
| Capital expenditure | $207M | $436M | $348M | $143M | $108M |
| Free cash flow | $93.0M | $393M | $300M | $608M | $181M |
| FCF margin | 3.9% | 10.7% | 9.1% | 16.7% | 5.8% |
| Dividends paid | $31.0M | $30.0M | $30.0M | $32.0M | $33.0M |
| Share buybacks | $30.0M | $50.0M | $0.0M | $0.0M | — |
| Share count change | −2.1% | −2.1% | −1.1% | 4.3% | 1.0% |
| Debt and strength | |||||
| Cash and short-term investments | $189M | $61.0M | $21.0M | $135M | $368M |
| Debt incl. finance leases | $6.8B | $6.5B | $6.2B | $5.5B | $5.7B |
| Shareholders' equity | $1.8B | $2.1B | $2.0B | $2.3B | $2.2B |
| Net debt / EBITDA | 11.0x | 4.9x | 8.6x | 4.8x | 8.5x |
| Current ratio | 2.5x | 2.1x | 1.2x | 1.0x | 1.3x |
| Interest coverage | 1.9x | 2.8x | 0.9x | 1.8x | 0.8x |
| Returns and quality | |||||
| Return on capital | 3.0% | 8.6% | 3.7% | 8.5% | 4.1% |
| Return on equity | 5.1% | 23.5% | −3.7% | 17.6% | −3.8% |
| Piotroski F-score | 4 | 7 | 4 | 6 | 3 |
| Altman Z'' | 1.0 | 1.5 | 0.9 | 1.3 | 1.0 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.3M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Gray Media, Inc · GTN
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $4.58 a share, the company is worth $458M.
Source: SEC EDGAR XBRL filings (CIK 0000043196). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.