Gray Media, Inc. (GTN)

NYSE: GTN · Real-Time Price · USD

4.540

-0.290 (-6.00%)

At close: Oct 9, 2026, 4:00 PM EDT

4.630

+0.090 (1.98%)

After-hours: Oct 9, 2026, 7:59 PM EDT

Gray Media Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,148	3,095	3,644	3,281	3,676	2,413
Revenue Growth	-11.30%	-15.07%	11.06%	-10.75%	52.34%	1.34%
Gross Profit	820	761	1,244	898	1,428	806
Operating Income	454	411	871	447	988	499
Net Income	-58	-137	323	-128	403	38
Earnings Per Share	-0.59	-1.41	3.36	-1.39	4.33	0.40
EPS Growth	-	-	-	-	982.50%	-89.16%

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Production Companies	117	107	105	86	93	73
Broadcasting	3,031	2,988	3,539	3,195	3,583	2,340
Total	3,148	3,095	3,644	3,281	3,676	2,413

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	176	368	135	21	61	189
Total Debt	5,887	5,813	5,693	6,240	6,533	6,827
Net Cash (Debt)	-5,711	-5,445	-5,558	-6,219	-6,472	-6,638
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-58.28	-56.13	-57.90	-67.60	-69.59	-69.87

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	250	289	751	648	829	300
Capital Expenditures	-104	-108	-143	-348	-436	-207
Free Cash Flow	146	181	608	300	393	93
Free Cash Flow Growth	-79.38%	-70.23%	102.67%	-23.66%	322.58%	-82.84%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	26.05%	24.59%	34.14%	27.37%	38.85%	33.40%
Operating Margin	14.42%	13.28%	23.90%	13.62%	26.88%	20.68%
Pretax Margin	-2.00%	-3.65%	13.50%	-2.50%	16.70%	6.96%
Profit Margin	-1.84%	-4.43%	8.86%	-3.90%	10.96%	1.57%
FCF Margin	4.64%	5.85%	16.68%	9.14%	10.69%	3.85%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 11, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.320	0.320	0.320	0.320	0.320	0.320
Dividend Per Share Growth	0%	0%	0%	0%	0%	-
Dividend Yield	7.05%	6.98%	11.48%	4.32%	3.60%	2.03%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 11, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	-	1.02	-	2.53	49.90
Forward PE	2.57	17.60	4.97	5.82	5.75	5.96
P/FCF Ratio	3.05	2.88	0.54	2.76	2.59	20.39
PS Ratio	0.14	0.17	0.09	0.25	0.28	0.79