Gray Media, Inc. (GTN) Financial Ratios
30 years of historical data (1996–2025) · Communication Services · Broadcasting
EV/EBITDA
↓
9.22
+4% vs avg
5yr avg: 8.85
30Y Low5.2·High15.6
P/FCF
↓
1.95
↓-67% vs avg
5yr avg: 5.82
30Y Low0.3·High108.7
P/B Ratio
↓
0.13
↓-63% vs avg
5yr avg: 0.35
30Y Low0.1·High5.0
ROE
↓
-3.0%
↑-151% vs avg
5yr avg: 5.8%
30Y Low-89%·High38%
Debt/EBITDA
↓
9.24
+18% vs avg
5yr avg: 7.85
30Y Low4.2·High11.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GTN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Gray Media, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 1.9x P/FCF, 67% below the 5-year average of 5.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $352M | $469M | $302M | $824M | $1.0B | $1.9B | $1.7B | $2.1B | $1.3B | $1.2B | $789M |
| Enterprise Value | $5.8B | $5.9B | $5.9B | $7.0B | $7.5B | $8.6B | $5.0B | $5.7B | $3.2B | $2.6B | $2.2B |
| P/E Ratio → | -4.31 | — | 0.94 | — | 2.58 | 50.40 | 4.85 | 16.88 | 6.22 | 4.72 | 12.62 |
| P/S Ratio | 0.11 | 0.15 | 0.08 | 0.25 | 0.28 | 0.79 | 0.73 | 1.01 | 1.21 | 1.40 | 0.97 |
| P/B Ratio | 0.13 | 0.17 | 0.10 | 0.31 | 0.38 | 0.80 | 0.72 | 1.01 | 1.10 | 1.25 | 1.60 |
| P/FCF | 1.95 | 2.59 | 0.50 | 2.75 | 2.65 | 20.59 | 3.20 | 7.80 | 5.17 | 8.50 | 4.84 |
| P/OCF | 1.22 | 1.62 | 0.40 | 1.27 | 1.26 | 6.38 | 2.66 | 5.57 | 4.05 | 6.87 | 3.82 |
P/E links to full P/E history page with 30-year chart
GTN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Gray Media, Inc.'s enterprise value stands at 9.2x EBITDA, roughly in line with its 5-year average of 8.9x. This is roughly in line with the Communication Services sector median of 9.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.91 | 1.61 | 2.15 | 2.04 | 3.54 | 2.10 | 2.68 | 2.94 | 2.96 | 2.73 |
| EV / EBITDA | 9.22 | 9.40 | 5.23 | 9.76 | 5.67 | 14.21 | 5.24 | 8.44 | 6.89 | 7.09 | 7.49 |
| EV / EBIT | 14.79 | 16.38 | 6.00 | 19.67 | 7.52 | 22.93 | 6.80 | 11.78 | 8.09 | 9.05 | 10.95 |
| EV / FCF | — | 32.68 | 9.64 | 23.48 | 19.12 | 91.97 | 9.21 | 20.65 | 12.60 | 17.95 | 13.62 |
GTN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Gray Media, Inc. earns an operating margin of 12.7%, above the Communication Services sector average of 1.6%. A negative ROE of -3.0% indicates the company is currently destroying shareholder equity. ROIC of 3.5% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.6% | 96.6% | 34.1% | 27.4% | 38.8% | 33.3% | 41.5% | 34.1% | 45.0% | 36.9% | 41.5% |
| Operating Margin | 12.7% | 12.7% | 23.4% | 11.7% | 26.9% | 15.8% | 31.6% | 22.5% | 35.9% | 33.0% | 28.8% |
| Net Profit Margin | -2.7% | -2.7% | 10.3% | -2.3% | 12.4% | 3.7% | 17.2% | 8.4% | 19.4% | 29.7% | 7.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.0% | -3.0% | 13.5% | -2.8% | 17.6% | 3.7% | 18.2% | 10.8% | 19.3% | 35.3% | 13.5% |
| ROA | -0.8% | -0.8% | 3.5% | -0.7% | 4.1% | 1.0% | 5.6% | 3.2% | 5.6% | 8.7% | 2.5% |
| ROIC | 3.5% | 3.5% | 7.4% | 3.2% | 8.1% | 3.9% | 10.0% | 8.2% | 10.7% | 10.2% | 10.1% |
| ROCE | 3.9% | 3.9% | 8.4% | 3.6% | 9.2% | 4.2% | 10.7% | 8.9% | 10.8% | 10.1% | 9.9% |
GTN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Gray Media, Inc. carries a Debt/EBITDA ratio of 9.2x, which is highly leveraged (156% above the sector average of 3.6x). Net debt stands at $5.4B ($5.8B total debt minus $368M cash). Interest coverage of just 0.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.07 | 2.07 | 1.94 | 2.38 | 2.36 | 2.84 | 1.68 | 1.77 | 2.15 | 1.85 | 3.56 |
| Debt / EBITDA | 9.24 | 9.24 | 5.08 | 8.64 | 4.93 | 11.34 | 4.23 | 5.57 | 5.50 | 4.99 | 5.92 |
| Net Debt / Equity | — | 1.94 | 1.89 | 2.37 | 2.34 | 2.76 | 1.36 | 1.67 | 1.59 | 1.38 | 2.90 |
| Net Debt / EBITDA | 8.66 | 8.66 | 4.96 | 8.61 | 4.88 | 11.03 | 3.42 | 5.25 | 4.06 | 3.73 | 4.83 |
| Debt / FCF | — | 30.08 | 9.14 | 20.73 | 16.47 | 71.38 | 6.01 | 12.86 | 7.43 | 9.45 | 8.78 |
| Interest Coverage | 0.76 | 0.76 | 2.01 | 0.81 | 2.82 | 1.82 | 3.85 | 2.12 | 3.70 | 3.03 | 2.09 |
GTN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.27x means Gray Media, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.18x to 1.27x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.27 | 1.27 | 1.03 | 1.18 | 2.10 | 2.51 | 5.11 | 2.73 | 5.80 | 5.08 | 4.49 |
| Quick Ratio | 1.27 | 1.27 | 1.03 | 1.18 | 2.10 | 2.51 | 5.11 | 2.73 | 5.75 | 4.97 | 4.38 |
| Cash Ratio | 0.71 | 0.71 | 0.26 | 0.05 | 0.15 | 0.49 | 3.03 | 0.86 | 4.43 | 3.52 | 2.72 |
| Asset Turnover | — | 0.30 | 0.35 | 0.31 | 0.33 | 0.22 | 0.31 | 0.30 | 0.26 | 0.27 | 0.29 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 81.58 | 38.01 | 34.59 |
| Days Sales Outstanding | — | 24.88 | 34.36 | 40.38 | 66.72 | 97.57 | 68.37 | 70.70 | 61.95 | 70.80 | 65.95 |
GTN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Gray Media, Inc. returns 9.0% to shareholders annually primarily through dividends.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 9.0% | 7.0% | 10.6% | 3.6% | 2.9% | 1.6% | 3.0% | 1.8% | — | — | — |
| Payout Ratio | — | — | 8.5% | — | 6.6% | 34.4% | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 106.7% | — | 38.7% | 2.0% | 20.6% | 5.9% | 16.1% | 21.2% | 7.9% |
| FCF Yield | 51.4% | 38.6% | 201.1% | 36.4% | 37.8% | 4.9% | 31.2% | 12.8% | 19.4% | 11.8% | 20.6% |
| Buyback Yield | 0.0% | 0.0% | 1.3% | 0.0% | 4.8% | 1.6% | 4.3% | 1.5% | 1.5% | 0.3% | 0.3% |
| Total Shareholder Yield | 9.0% | 7.0% | 11.9% | 3.6% | 7.7% | 3.2% | 7.3% | 3.3% | 1.5% | 0.3% | 0.3% |
| Shares Outstanding | — | $97M | $96M | $92M | $93M | $95M | $97M | $100M | $89M | $74M | $73M |
Peer Comparison
Compare GTN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GTNYou | $352M | -4.3 | 9.2 | 1.9 | 96.6% | 12.7% | -3.0% | 3.5% | 9.2 |
 NXST | $5B | 54.7 | 7.0 | 6.7 | 39.0% | 17.4% | 5.0% | 7.4% | 4.2 |
 SBGI | $955M | -8.5 | 9.7 | 8.3 | 36.1% | 4.9% | -25.3% | 2.8% | 9.5 |
 SSP | $325M | -1.5 | 265.5 | 49.8 | 33.7% | 7.5% | -7.9% | 3.1% | 239.5 |
 FOX | $21B | 9.6 | 6.3 | 6.9 | 33.1% | 19.8% | 19.3% | 16.5% | 2.1 |
 WBD | $66B | 90.3 | 13.4 | 21.3 | 28.2% | 3.5% | 2.0% | 1.5% | 4.7 |
 DIS | $180B | 15.2 | 11.5 | 17.9 | 37.8% | 14.6% | 11.3% | 6.9% | 2.3 |
 CMCSA | $82B | 4.2 | 5.0 | 3.7 | 60.1% | 16.7% | 21.6% | 8.2% | 3.0 |
 CHTR | $16B | 3.5 | 5.1 | 3.6 | 46.3% | 24.3% | 24.8% | 8.6% | 4.4 |
 FUBO | $271M | -38.4 | — | — | 11.1% | -2.6% | 11.0% | -3.3% | — |
 SIRI | $9B | 12.5 | 9.2 | 7.6 | 47.0% | 17.2% | 7.1% | 5.2% | 4.7 |
| Communication Services Median | — | 15.3 | 9.6 | 11.4 | 48.5% | 1.6% | 2.0% | 2.6% | 3.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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GTN — Frequently Asked Questions
Quick answers to the most common questions about buying GTN stock.
What is Gray Media, Inc.'s P/E ratio?
Gray Media, Inc.'s current P/E ratio is -4.3x. The historical average is 22.4x.
What is Gray Media, Inc.'s EV/EBITDA?
Gray Media, Inc.'s current EV/EBITDA is 9.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.3x.
What is Gray Media, Inc.'s ROE?
Gray Media, Inc.'s return on equity (ROE) is -3.0%. The historical average is 4.7%.
Is GTN stock overvalued?
Based on historical data, Gray Media, Inc. is trading at a P/E of -4.3x. Compare with industry peers and growth rates for a complete picture.
What is Gray Media, Inc.'s dividend yield?
Gray Media, Inc.'s current dividend yield is 8.98%.
What are Gray Media, Inc.'s profit margins?
Gray Media, Inc. has 96.6% gross margin and 12.7% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Gray Media, Inc. have?
Gray Media, Inc.'s Debt/EBITDA ratio is 9.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.