GRAY MEDIA, INC GTN
Last close
4.95
2026-09-04
Market cap
$485.1M
estimated share count
52-week range
3.55 - 6.43
Valuation FY2025 figures against the last close
P/S0.2x
P/E—
P/FCF2.7x
EV/EBITDA11.2x
Dividend yield6.8%
Diluted EPS-1.41
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.10B | $3.64B | $3.28B | $3.68B | $2.41B | $2.38B | $2.12B | $1.08B | $883.0M | $812.5M |
| SG&A | — | — | — | — | $159.0M | $65.0M | $104.0M | $41.0M | $32.0M | $40.3M |
| Total operating expenses | $2.70B | $2.79B | $2.90B | $2.69B | $2.03B | $1.63B | $1.64B | $695.0M | $593.0M | $578.2M |
| Operating income | $392.0M | $851.0M | $383.0M | $990.0M | $381.0M | $752.0M | $478.0M | $389.0M | $290.0M | $234.3M |
| Pre-tax income | -$113.0M | $492.0M | -$82.0M | $614.0M | $168.0M | $544.0M | $255.0M | $288.0M | $193.0M | $105.7M |
| Income tax | $28.0M | $117.0M | $6.0M | $159.0M | $78.0M | $134.0M | $76.0M | $77.0M | $69.0M | $43.4M |
| Net income | -$85.0M | $375.0M | -$76.0M | $455.0M | $90.0M | $410.0M | $179.0M | $211.0M | $262.0M | $62.3M |
| EPS, basic | -1.41 | 3.40 | -1.39 | 4.38 | 0.40 | 3.73 | 1.28 | 2.39 | 3.59 | 0.87 |
| EPS, diluted | -1.41 | 3.36 | -1.39 | 4.33 | 0.40 | 3.69 | 1.27 | 2.37 | 3.55 | 0.86 |
| Shares, diluted (wtd. avg.) | $97.0M | $96.0M | $92.0M | $93.0M | $95.0M | $97.0M | $100.0M | $89.0M | $74.0M | $72.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $368.0M | $135.0M | $21.0M | $61.0M | $189.0M | $773.0M | $212.0M | $667.0M | $462.4M | $325.2M |
| Receivables | $205.0M | $337.0M | $342.0M | $650.0M | $624.0M | $425.0M | $411.0M | $184.0M | $171.2M | $146.8M |
| Total current assets | $656.0M | $541.0M | $468.0M | $857.0M | $963.0M | $1.30B | $672.0M | $873.0M | $666.8M | $505.5M |
| Property, plant and equipment | $1.51B | $1.58B | $1.60B | $1.47B | $1.17B | $737.0M | $725.0M | $363.0M | $350.7M | $326.1M |
| Goodwill | $2.64B | $2.64B | $2.64B | $2.66B | $2.65B | $1.46B | $1.45B | $612.0M | $611.0M | $485.3M |
| Other intangibles | $157.0M | $290.0M | $415.0M | $636.0M | $825.0M | $395.0M | $460.0M | $53.0M | $74.0M | $56.2M |
| Total assets | $10.44B | $10.54B | $10.64B | $11.15B | $11.11B | $7.64B | $6.97B | $4.21B | $3.26B | $2.75B |
| Accounts payable | $144.0M | $154.0M | $23.0M | $55.0M | $59.0M | $10.0M | $11.0M | $8.0M | $7.8M | $5.3M |
| Short-term debt | $2.0M | $20.0M | $15.0M | $15.0M | $15.0M | $0 | $0 | $0 | $6.4M | $0 |
| Total current liabilities | $516.0M | $527.0M | $395.0M | $409.0M | $384.0M | $255.0M | $246.0M | $150.0M | $131.3M | $119.4M |
| Long-term debt | $5.74B | $5.60B | $6.14B | $6.44B | $6.74B | $3.97B | $3.70B | $2.55B | $1.83B | $1.76B |
| Total liabilities | $7.63B | $7.61B | $8.02B | $8.39B | $8.70B | $5.24B | $4.86B | $3.03B | $2.27B | $2.26B |
| Retained earnings | $1.21B | $1.38B | $1.08B | $1.24B | $869.0M | $862.0M | $504.0M | $372.0M | $161.7M | -$101.4M |
| Total equity | $2.15B | $2.28B | $1.97B | $2.12B | $1.76B | $1.75B | $1.46B | $1.19B | $994.0M | $493.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $289.0M | $751.0M | $648.0M | $829.0M | $300.0M | $652.0M | $385.0M | $323.0M | $180.0M | $210.1M |
| Depreciation and amortisation | $133.0M | $144.0M | $145.0M | $129.0M | $104.0M | $96.0M | $80.0M | $54.0M | $52.0M | $45.9M |
| Stock-based compensation | $22.0M | $22.0M | $20.0M | $22.0M | $14.0M | $16.0M | $16.0M | $7.0M | $9.0M | $5.1M |
| Capital expenditure | $108.0M | $143.0M | $348.0M | $436.0M | $207.0M | $110.0M | $110.0M | $70.0M | $35.0M | $43.6M |
| Investing cash flow | -$63.0M | -$28.0M | -$291.0M | -$503.0M | -$3.53B | -$211.0M | -$2.66B | -$47.0M | -$350.0M | -$479.3M |
| Financing cash flow | $7.0M | -$609.0M | -$397.0M | -$454.0M | $2.65B | $120.0M | $1.06B | $681.0M | $307.0M | $497.1M |
| Dividends paid | $33.0M | $32.0M | $30.0M | $30.0M | $31.0M | $0 | $0 | — | $0 | $0 |
| Buybacks | — | $0 | $0 | $50.0M | $30.0M | $75.0M | $32.0M | $19.0M | $4.0M | $2.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-005803.
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