Gray Media Inc. (GTN) vs iHeartMedia, Inc. (IHRT)

Gray Media Inc. and iHeartMedia, Inc. are both Broadcasting companies. Gray Media Inc. is the larger, with a market value of $479.3M against $386.5M — 1.2× the size. iHeartMedia, Inc. grew revenue faster over the last twelve months: 3.06% against −11.3%. Gray Media Inc. has the higher net margin (−1.84% vs −7.17%) and the higher return on invested capital (3.25% vs 0.14%). Across the 19 metrics below, Gray Media Inc. leads on 10 and iHeartMedia, Inc. on 9.

Valuation

Metric GTN IHRT Broadcasting median
P/E n/m n/m —
P/S 0.14 0.09 0.14
P/B 0.21 n/m 0.86
Price to free cash flow 3.07 6.25 6.42
EV/EBITDA 8.53 15.07 8.64
EV/Sales 1.93 1.31 1.31
Earnings yield (14.78%) (79.48%) (16.05%)
Free cash flow yield 32.53% 16.00% 0.00%

Profitability

Metric GTN IHRT Broadcasting median
Gross margin 26.05% 58.81% 40.36%
Operating margin 13.82% 0.16% (12.31%)
Net margin (1.84%) (7.17%) (8.55%)
Free cash flow margin 4.64% 1.45% (0.22%)
Return on equity (2.69%) 15.30% (5.70%)
Return on assets (0.56%) (5.59%) (5.59%)
Return on invested capital 3.25% 0.14% (0.41%)

Growth

Metric GTN IHRT Broadcasting median
Revenue growth (TTM) (11.30%) 3.06% (11.30%)
EPS growth (last fiscal year) (141.96%) 54.19% —
Revenue growth, 5-year CAGR 5.39% 5.56% 1.91%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GTN IHRT Broadcasting median
Debt to equity 2.13 (2.51) 0.46
Current ratio 0.95 1.41 1.41
Net debt to EBITDA 7.66 13.97 3.66

Dividend

Metric GTN IHRT Broadcasting median
Dividend yield 4.14% — 4.14%
Payout ratio 0.14 0.00 0.00

Size

Metric GTN IHRT Broadcasting median
Market cap 479.31m 386.52m 185.13m

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