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The New York Times Company

NYT Communication Services Publishing

The New York Times Company’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 9.24% from fiscal 2024.

Revenue
+9.66%
EPS
+20.7%
Free cash flow
−14.8%

Quarter to September 2026, against a year earlier

65.17 1.33 −2.00%
Market cap
$10.6B
P/E
25.8×
Fwd P/E
27.1×
Dividend yield
1.33%
F-score
9/9
Altman Z
9.86
Beneish M
−2.74
Dividend safety
86/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Reportable Segment

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 8.78
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 2 3 — 3 1 — — — — —
Insider Ownership 2.18%

Capital & Financial Ratios $m

Size
Market Cap 10,580.00
Revenue ttm 3,045.54
Net income ttm 408.53
Free cash flow ttm 593.43
Net debt Q (672.87)
Valuation
P/E 25.83
Forward P/E 27.10
Price / sales 3.45
Forward P/S Powerpack
Price / FCF 17.72
Price / book 5.13
Financial health
Current ratio Q 1.52 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 10.57
Growth
Revenue growth Q +9.66% (above 0%: growing)
Operating income growth Q +16.37% (above 0%: growing)
EPS, this year +16.59% (at or above 15%: strong)
EPS, next year A +10.41%
Revenue, next year A +10.09% (at or above 10%: strong)
EPS, past 5 yrs +28.35% (at or above 15%: strong)
EPS, next 5 yrs A +12.51%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.4×, against a ten-year median of 3.0×; over the ten years it ranged from 0.9× in 2016 to 4.8× in 2020.
P/E against its own 10 years 1.17%
10-year low 10-year high
P/S against its own 10 years 67.84%
10-year low 10-year high
P/B against its own 10 years 72.72%
10-year low 10-year high
EV/Sales against its own 10 years 65.42%
10-year low 10-year high
EV/FCF against its own 10 years 12.41%
10-year low 10-year high

Dividends raised every year since 2018

Yield
1.33%
Annual rate
0.87
Payout ratio
34.8%
Growth, 2018–26
+23.6%/yr
  1. 0.16 ’18
  2. 0.19 ’19 +19
  3. 0.23 ’20 +21
  4. 0.27 ’21 +17
  5. 0.34 ’22 +26
  6. 0.42 ’23 +24
  7. 0.50 ’24 +19
  8. 0.67 ’25 +34
  9. 0.87 ’26 +30
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 452 566 642 661
Receivables 242 250 291 236
Inventory — — — —
Other 28 71 35 58
782 936 1,028 1,023
2023 2024 2025 Q'26
Payables 117 124 136 155
ST’ Debt — — — —
Other — — — —
612 614 667 648

Compound Annual Growth %

10y 5y 3y
Sales 5.99% 9.63% 6.96%
Cash Flow 12.56% 14.43% 57.12%
Earnings 18.45% 28.00% 25.53%
Book Value 9.44% 8.98% 8.46%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.65 Actual 0.68

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.88 0.89 Beat by 0.01
Q1 FY26 0.49 0.61 Beat by 0.12
Q2 FY26 0.67 0.69 Beat by 0.02
Q3 FY26 0.65 0.68 Beat by 0.03
Q4 FY26 0.94 — Reports 3 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.54 0.57 0.60 — —
’25 0.30 0.50 0.50 0.79 2.09
’24 0.24 0.40 0.39 0.75 1.77
’23 0.13 0.28 0.32 0.66 1.40
’22 0.03 0.37 0.22 0.43 1.04
’21 0.24 0.32 0.32 0.41 1.31
’20 0.20 0.14 0.20 0.06 0.60
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 712 762 769 — —
’25 636 686 701 802 2,825
’24 594 625 640 727 2,586
’23 561 591 598 676 2,426
’22 537 556 548 668 2,308
’21 473 498 509 594 2,075
’20 444 404 427 509 1,784
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 92 194 — — —
’25 99 114 208 164 584
’24 53 80 126 152 411
’23 51 69 104 137 361
’22 (15) 31 69 66 151
’21 33 78 99 60 269
’20 39 80 88 91 298
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 82 184 170 — —
’25 90 103 200 158 551
’24 47 73 118 144 381
’23 45 64 99 130 338
’22 (23) 20 60 57 114
’21 27 69 90 49 234
’20 24 73 80 86 263
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 5.2% a year for ten years. It grew 16.3% a year over the last ten.

Implied
5.2%
10 years, reported
16.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,555 1,676 1,749 1,812 1,784 2,075 2,308 2,426 2,586 2,825 3,046 +6.9% 3,110 3,334 3,549 +7.9%
Gross margin, % 82.96 84.92 45.79 45.47 46.22 49.90 47.63 48.52 49.36 50.81 51.68 (32.1) pt
EBT 31 111 176 164 115 291 236 303 383 451 521 +34.9%
EBT margin, % 1.96 6.64 10.07 9.08 6.47 14.00 10.22 12.47 14.83 15.97 17.11 +14.0 pt
Net income 24 7 127 140 101 220 174 233 294 344 409 +34.5%
Per share, $
Per share, $ Revenue 9.65 10.35 10.61 10.91 10.68 12.36 13.83 14.73 15.73 17.31 18.88 +6.7%
Earnings 0.18 0.03 0.76 0.84 0.60 1.31 1.04 1.41 1.79 2.11 2.52 +31.5%
Cash flow 0.64 0.54 0.95 1.14 1.78 1.60 0.90 2.19 2.50 3.58 3.88 +21.0%
Capex (0.19) (0.52) (0.47) (0.27) (0.21) (0.21) (0.22) (0.14) (0.18) (0.21) (0.20) +1.2%
Free cash flow 0.46 0.01 0.48 0.87 1.58 1.40 0.68 2.05 2.32 3.37 3.68 +24.8%
Book value 5.24 5.54 6.33 7.07 7.95 9.17 9.59 10.70 11.72 12.51 0.00 +10.2%
Shares, m 161 162 165 166 167 168 167 165 164 163 162 +0.1%
Valuation, ×
Valuation, × P/E 74.72 631.67 29.72 38.30 86.28 36.59 31.48 33.70 29.08 32.90 25.83 102.4
P/S 1.39 1.83 2.10 2.95 4.85 3.91 2.39 3.25 3.31 4.01 3.45 3.0
P/B 2.57 3.42 3.52 4.55 6.51 5.26 3.45 4.47 4.44 5.55 5.13 4.4
EV/Sales 1.32 1.80 2.04 2.98 4.79 3.83 2.45 3.27 3.28 3.96 3.40 3.0
EV/FCF 27.82 1,539.66 44.72 37.39 32.42 33.87 49.77 23.45 22.25 20.30 17.43 183.2
Cash, $m
Cash, $m Operating cash flow 104 87 157 190 298 269 151 361 411 584 626 +21.2%
Capex (30) (85) (77) (45) (34) (35) (37) (23) (29) (34) (33) +1.4%
Free cash flow 74 2 80 144 263 234 114 338 381 551 593 +25.0%
Balance, $m
Balance, $m Working capital 397 334 221 279 349 394 84 170 323 361 359 (1.1%)
Net debt (303) (241) (359) (432) (595) (661) (347) (452) (566) (642) (673) +8.7%
Shareholders’ equity 844 897 1,043 1,174 1,328 1,541 1,600 1,763 1,927 2,041 2,048 +10.3%
Returns, %
Returns, % ROA 1.26 0.20 5.85 6.53 4.55 9.03 6.82 8.86 10.58 11.78 13.84 +10.5 pt
ROIC 13.02 16.82 17.39 14.80 15.03 19.04 10.08 13.16 16.12 19.28 0.00 +6.3 pt
ROE 3.48 0.49 12.96 12.63 8.00 15.34 11.07 13.82 15.92 17.34 20.30 +13.9 pt
People
People Employees 3,710 3,790 4,320 4,500 4,700 5,000 5,800 5,900 5,900 6,000 — +5.5%
Revenue/emp, $m 0.42 0.44 0.40 0.40 0.38 0.41 0.40 0.41 0.44 0.47 — +1.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

The New York Times Company is a global media organization that sells access to news and other information through digital products and print newspapers. Its core news product, The New York Times, is available through a mobile app, a website and a printed newspaper. The company also distributes selected content on third-party platforms.

Beyond general-interest news, its products cover sports through The Athletic, recipes through Cooking, puzzles through Games, audio through a separate Audio subscription and shopping recommendations through Wirecutter. Readers can subscribe to individual digital products or buy a bundle that combines them. Print home-delivery subscribers also receive access to the company’s digital products.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Reportable Segment 2,825 100.00%
Gross margin 50.81%
Operating margin 15.28%
Pre-tax margin 15.97%

Revenue by segment since 2009

The New York Times Company vs peers in Publishing (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NYT The New York Times Company $10.6B 25.8× 27.1× +9.66% (above 0%: growing) +20.70% (above 0%: growing) −14.82% (below 0%: shrinking) 51.41% 15.87%
PSO Pearson, PLC $10.5B 18.0× — +7.23% (above 0%: growing) +1,083.81% (above 0%: growing) +1,102.06% (above 0%: growing) 48.91% 0.00% Compare
WLY John Wiley & Sons, Inc. $2.6B 13.1× 15.7× −2.63% (below 0%: shrinking) n/m +30.28% (above 0%: growing) 73.89% 0.76% Compare
WLYB John Wiley & Sons, Inc. $2.1B 13.2× — −2.63% (below 0%: shrinking) n/m +30.28% (above 0%: growing) 73.89% 0.76% Compare
TDAY USA TODAY Co., Inc. $898.5M — (loss-making) 21.0× −7.41% (below 0%: shrinking) n/m −28.17% (below 0%: shrinking) 35.06% 0.00% Compare
SCHL Scholastic Corporation $678.6M 24.4× 30.9× −3.90% (below 0%: shrinking) n/m −18.41% (below 0%: shrinking) 45.53% (42.53%) Compare
LEE Lee Enterprises, Incorporated $156.0M — (loss-making) — (loss-making) −10.85% (below 0%: shrinking) n/m −36.16% (below 0%: shrinking) 62.43% 6.85% Compare
EDUC Educational Development Corporation $8.4M 5.2× 10.4× −11.92% (below 0%: shrinking) n/m −1,474.93% (below 0%: shrinking) 59.73% (38.41%) Compare
TNMG TNL Mediagene $2.2M 12.4× — — +25.00% (above 0%: growing) −233.71% (below 0%: shrinking) — — Compare
Median of peers $788.5M 13.2× 18.4× −3.90% — −23.29% 59.73% 0.00%

All 9 Publishing stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 103.04%
Held by the ten largest 56.38%
Holder Shares Stake Change
BlackRock 15.74m 9.76% +608.88k
Berkshire Hathaway 15.70m 9.73% +553.47k
Vanguard 15.10m 9.36% −830.71k
Linonia Partnership LP 9.03m 5.60% 0.00
AQR Capital Management 8.99m 5.58% +878.63k
T. Rowe Price 8.41m 5.21% −1.47m
State Street 5.04m 3.12% −81.26k
Darsana Capital Partners LP 5.00m 3.10% −38.73k
Geode Capital Management 4.86m 3.02% +589.11k
Wellington Management 3.06m 1.90% −1.16m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

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stockrow.com/NYT · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com