Saturday 17 October 2026 Export GTN’s income statement to Excel — free account

Gray Media Inc.

Gray Media Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, down 15.1% from fiscal 2024. In the quarter to June 2026, revenue grew 8.68%, EPS grew 120.1%, free cash flow grew 2,750.0% and total debt rose 3.90%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

4.38 0.08 −1.79%

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Market cap: $468.7M
P/E: 0.0×
Fwd P/E: 2.2×
Dividend yield: 7.31%
F-score: 3/9
Altman Z: 0.63
Beneish M: −2.90
Dividend safety: 37/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.25

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	1	—	—	—	—	—

Insider Ownership 12.08%

Capital & Financial Ratios $m

Market Cap 468.66

Revenue 3,148.00

Net Income (26.00)

Free Cash Flow 146.00

Net Debt 5,632.00

Current Ratio 0.95

Debt/Equity 2.13

P/E ratio 0.00

Fwd P/E 2.18

P/S ratio 0.14

P/B ratio 0.20

Past 5Y EPS Growth —

This Y EPS Growth 263.00%

Next Y EPS Growth (133.94%)

Next Y revenue growth 17.38%

Next 5Y EPS Growth 10.00%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 10.39%

10-year low 10-year high

P/B against its own 10 years 9.14%

10-year low 10-year high

EV/Sales against its own 10 years 21.93%

10-year low 10-year high

EV/FCF against its own 10 years 91.30%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.32

Annual Dividend Yield 7.31%

	total	individual payouts
2026	0.07	0.08 0.08 0.08
2025	0.05	0.08 0.08 0.08 0.08
2024	0.32	0.08 0.08 0.08 0.08
2023	0.32	0.08 0.08 0.08 0.08
2022	0.32	0.08 0.08 0.08 0.08
2021	0.32	0.08 0.08 0.08 0.08
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	21	135	368	176
Receivables	363	343	211	194
Inventory	—	—	—	—
Other	18	17	17	5
	468	541	656	492

	2023	2024	2025	Q'26
Payables	23	154	144	143
ST’ Debt	15	20	2	—
Other	130	129	121	100
	395	527	516	517

Compound Annual Growth %

	10y	5y	3y
Sales	17.88%	5.39%	(5.57%)
Cash Flow	10.48%	(15.02%)	(29.62%)
Earnings	0.00%	0.00%	0.00%
Book Value	20.65%	3.14%	0.47%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	768	839	—	—	—
’25	782	772	749	792	3,095
’24	823	826	950	1,045	3,644
’23	801	813	803	864	3,281
’22	827	868	909	1,072	3,676
’21	544	547	601	721	2,413
’20	534	451	604	792	2,381

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1	123	—	—	—
’25	132	31	14	112	289
’24	68	18	297	368	751
’23	412	47	106	83	648
’22	141	189	266	233	829
’21	147	91	45	17	300
’20	131	176	181	164	652

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(18)	106	—	—	—
’25	127	(4)	(11)	69	181
’24	41	(18)	257	328	608
’23	302	(50)	31	23	306
’22	94	77	127	95	393
’21	134	(17)	482	(33)	566
’20	104	152	162	124	542

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.34)	0.14	—	—	—
’25	(0.23)	(0.71)	(0.24)	(0.24)	(1.41)
’24	0.79	0.09	0.86	1.59	3.36
’23	(0.48)	(0.10)	(0.57)	(0.24)	(1.39)
’22	0.52	0.91	1.03	1.88	4.33
’21	0.27	0.27	(0.32)	0.17	0.40
’20	0.40	(0.02)	1.14	2.22	3.69

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	7.00	9.95	10.70	13.60	8.53	16.30	8.61	5.97	2.91	3.13	Analyst estimates 2026–2028 Powerpack
	High	16.26	17.50	20.24	25.31	23.07	25.24	24.81	14.40	10.07	6.31
People
People	Employees	3,700	3,938	8,523	8,018	7,262	8,993	9,394	9,923	9,502	9,582
	Revenue/emp, $m	0.22	0.22	0.13	0.26	0.33	0.27	0.39	0.33	0.38	0.32
Income, $m
Income, $m	Revenue	812	883	1,084	2,122	2,381	2,413	3,676	3,281	3,644	3,095
	Gross margin, %	41.54	36.81	45.02	34.07	41.54	33.28	38.85	27.37	34.14	24.59
	EBT	106	193	288	255	544	168	614	(82)	492	(113)
	EBT margin, %	13.01	21.86	26.57	12.02	22.85	6.96	16.70	(2.50)	13.50	(3.65)
	Net income	62	262	211	179	410	90	455	(76)	375	(85)
	Depreciation	91	111	107	261	266	284	421	431	312	310
Per share, $
Per share, $	Revenue	11.31	12.10	12.32	21.43	24.80	25.40	39.96	35.66	38.36	31.91
	Earnings	0.87	3.59	2.39	1.28	3.73	0.40	4.38	(1.39)	3.40	(1.41)
	Cash flow	2.92	2.47	3.67	3.89	6.79	3.16	9.01	7.04	7.91	2.98
	Capex	(0.45)	(0.48)	(0.69)	1.44	(1.15)	2.80	(4.74)	(3.72)	(1.51)	(1.11)
	Free cash flow	2.47	1.99	2.98	5.33	5.65	5.96	4.27	3.33	6.40	1.87
	Book value	6.86	13.60	13.49	21.35	25.03	25.34	30.07	28.49	30.87	28.92
	Shares, m	72	73	88	99	96	95	92	92	95	97
Valuation, ×
Valuation, ×	P/E	12.49	4.79	6.14	16.75	4.73	50.40	2.52	0.00	0.93	0.00
	P/S	0.97	1.38	1.20	1.00	0.72	0.79	0.28	0.26	0.08	0.15
	P/B	1.60	1.23	1.09	1.45	0.98	1.09	0.48	0.43	0.13	0.22
	EV/Sales	2.74	2.94	2.97	2.65	2.07	3.51	2.02	2.13	1.59	1.89
	EV/FCF	12.51	17.89	12.28	10.63	9.09	14.98	18.86	22.81	9.52	32.30
Cash, $m
Cash, $m	Operating cash flow	210	180	323	385	652	300	829	648	751	289
	Capex	(32)	(35)	(61)	143	(110)	266	(436)	(342)	(143)	(108)
	Free cash flow	178	145	262	528	542	566	393	306	608	181
Balance, $m
Balance, $m	Working capital	386	535	723	426	1,049	579	448	73	14	140
	Total debt	1,757	1,837	2,549	3,703	3,981	6,755	6,455	6,160	5,621	5,744
	Net debt	1,432	1,375	1,882	3,491	3,208	6,566	6,394	6,139	5,486	5,376
	Shareholders’ equity	493	993	1,187	2,114	2,403	2,407	2,766	2,621	2,933	2,805
Returns, %
Returns, %	ROA	2.55	8.71	5.65	2.27	4.90	0.41	3.62	(1.17)	3.05	(1.31)
	ROIC	7.61	7.65	7.92	5.33	8.38	2.65	6.75	2.73	6.32	2.99
	ROE	13.51	35.27	19.36	9.58	22.26	2.17	20.81	(6.26)	15.19	(6.17)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NMAX Newsmax Inc.	$1.2B	167×	— (loss-making)	+16.53% (above 0%: growing)	n/m	+94.72% (above 0%: growing)	43.12%	2.41%	Compare
FUBO fuboTV Inc.	$919.4M	— (loss-making)	9.5×	+37.99% (above 0%: growing)	n/m	+83.25% (above 0%: growing)	7.28%	(1.80%)	Compare
SBGI Sinclair, Inc.	$918.4M	16.5×	7.1×	+7.14% (above 0%: growing)	n/m	−56.19% (below 0%: shrinking)	47.98%	5.95%	Compare
GTN.A Gray Media Inc.	$671.6M	— (loss-making)	2.2×	+8.68% (above 0%: growing)	n/m	+2,750.00% (above 0%: growing)	29.56%	16.21%	Compare
GTN Gray Media Inc.	$468.7M	— (loss-making)	2.2×	+8.68% (above 0%: growing)	n/m	+2,750.00% (above 0%: growing)	29.56%	16.21%
IHRT iHeartMedia, Inc.	$323.0M	— (loss-making)	— (loss-making)	+4.67% (above 0%: growing)	n/m	+448.77% (above 0%: growing)	59.01%	3.63%	Compare
SSP E.W. Scripps Company (The)	$262.3M	— (loss-making)	4.6×	−9.20% (below 0%: shrinking)	n/m	−117.88% (below 0%: shrinking)	40.03%	(236.04%)	Compare
CURI CuriosityStream Inc.	$160.8M	261×	27.8×	+22.26% (above 0%: growing)	+1,002.94% (above 0%: growing)	−249.16% (below 0%: shrinking)	72.84%	39.49%	Compare
SGA Saga Communications, Inc.	$51.9M	— (loss-making)	— (loss-making)	−6.47% (below 0%: shrinking)	−16.67% (below 0%: shrinking)	−97.81% (below 0%: shrinking)	11.23%	2.36%	Compare
Median of peers	$497.3M	167×	7.1×	+7.91%	—	+13.53%	41.58%	3.02%

All 17 Broadcasting stocks →

Gray Media Inc. (GTN) key facts

Concern: Gray Media Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, down 15.1% from fiscal 2024.
Gray Media Inc. (GTN) is a Broadcasting company in the Communication Services sector, listed on the New York Stock Exchange.
As of October 16, 2026, GTN traded at $4.38, a market capitalization of $468.7 million.
Gray Media Inc. pays an annual dividend of $0.32 per share, a yield of 7.31%.
Return on equity was −6.17% and debt-to-equity 2.13.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 0.63 (distress zone) for fiscal 2025.