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GRAY MEDIA, INC GTN

NYSE · stock · Television Broadcasting Stations · website · IPO 1996-09-24 · LEI

GRAY MEDIA, INC statistics & valuation

Market cap$434.6M
P / B0.2×
Return on equity-0.9%
Net debt$5.5B
Enterprise value USD$5.9B

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Gross margin (%)
2017201820192020202120222023202420252026
Operating margin (%)
32.80% 35.90% 22.50% 31.60% 15.80% 26.90% 11.70% 23.40% 12.70% 2017201820192020202120222023202420252026
Return on equity (%)
26.40% 17.80% 12.20% 23.40% 5.10% 21.50% -3.90% 16.40% -3.90% -0.90% 2017201820192020202120222023202420252026
Shares outstanding
83.3M 89.0M 100.0M 97.0M 95.0M 93.0M 92.0M 96.0M 97.0M 2017201820192020202120222023202420252026
Net debt ($)
$1.37B $1.88B $3.48B $3.23B $6.61B $6.44B $6.18B $5.47B $5.37B $5.49B 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
8.00% 5.00% 2.60% 5.40% 0.80% 4.10% -0.70% 3.60% -0.80% -0.20% 2017201820192020202120222023202420252026
Free cash flow margin (%)
16.40% 23.30% 13.00% 22.80% 3.90% 10.70% 9.10% 16.70% 5.80% 2017201820192020202120222023202420252026
Debt / equity (×)
1.84× 2.15× 2.53× 2.28× 3.87× 3.07× 3.15× 2.45× 2.66× 2.72× 2017201820192020202120222023202420252026
EPS ($)
$3.55 $2.37 $1.27 $3.69 $0.40 $4.33 -$1.39 $3.36 -$1.41 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

GRAY MEDIA, INC trades at about 1.4× earnings — below its 10-year norm (10-year range 1.1×–52.1×, median 11.5×).

1.1× 52.1×

Shaded band = 10-year range (1.1×–52.1×); dot = today's 1.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating margin—12.7%23.4%11.7%26.9%15.8%31.6%22.5%35.9%32.8%
Net margin—-2.7%10.3%-2.3%12.4%3.7%17.2%8.4%19.5%29.7%
FCF margin—5.8%16.7%9.1%10.7%3.9%22.8%13.0%23.3%16.4%
Return on assets-0.2%-0.8%3.6%-0.7%4.1%0.8%5.4%2.6%5.0%8.0%
Return on equity-0.9%-3.9%16.4%-3.9%21.5%5.1%23.4%12.2%17.8%26.4%
Debt / equity2.72×2.66×2.45×3.15×3.07×3.87×2.28×2.53×2.15×1.84×
Current ratio1.201.271.031.182.102.515.112.735.825.08

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.