The New York Times Company (NYT) 10-Year Financial Performance & Capital Metrics

NYT • • Industrial / General

Communication ServicesPublishingNews & Media PublishingNational News Media

AboutThe New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website. The company also transmits articles, graphics, and photographs from The Times and other publications to approximately 1,500 newspapers, magazines, and websites; licenses electronic databases to resellers in the business, professional, and library markets; and offers magazine licensing, news digests, book development, and rights and permissions. In addition, it engages in the live events business, which hosts physical and virtual live events to connect audiences with journalists and outside thought leaders; direct-sold website, mobile application, podcast, email, and video advertisements, as well as digital advertising services; operates Wirecutter, a product review and recommendation products; develops mobile applications, including games and cooking products; prints and distributes products for third parties; and offers other products and services. The company was founded in 1851 and is headquartered in New York, New York.Show more

Revenue $2.59B +6.6%
EBITDA $443M +19.2%
Net Income $294M +26.4%
EPS (Diluted) 1.77 +26.4%
Gross Margin 49.36% +1.7%
EBITDA Margin 17.14% +11.9%
Operating Margin 13.58% +19.2%
Net Margin 11.36% +18.6%
ROE 15.92% +15.2%
ROIC 16% +14.0%
Debt/Equity 0.02 +1.9%
Interest Coverage 345.23 +26.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 16.0%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.99%

5Y7.37%

3Y7.62%

TTM8.43%

Profit (Net Income) CAGR

10Y24.32%

5Y15.99%

3Y10.13%

TTM20.68%

EPS CAGR

10Y24.36%

5Y16.08%

3Y10.55%

TTM21.3%

ROCE

10Y Avg11.06%

5Y Avg12.83%

3Y Avg13.33%

Latest16.21%

Peer Comparison

National News Media

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NYTThe New York Times Company	11.56B	71.57	40.44	6.59%	12.29%	17.06%	3.3%	0.02
TDAYUSA TODAY Co., Inc.	898.83M	6.11	-33.94	-5.79%	4.11%	49.68%	5.65%	8.43

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.58B	1.56B	1.68B	1.75B	1.81B	1.78B	2.07B	2.31B	2.43B	2.59B
Revenue Growth %	-0.01%	-0.02%	0.08%	0.04%	0.04%	-0.02%	0.16%	0.11%	0.05%	0.07%
Cost of Goods Sold+	617.81M	629.36M	616.34M	947.88M	988.16M	959.31M	1.04B	1.21B	1.25B	1.31B
COGS % of Revenue	0.39%	0.4%	0.37%	0.54%	0.55%	0.54%	0.5%	0.52%	0.51%	0.51%
Gross Profit+	961.4M	925.99M	1.06B	800.71M	824.02M	824.33M	1.04B	1.1B	1.18B	1.28B
Gross Margin %	0.61%	0.6%	0.63%	0.46%	0.45%	0.46%	0.5%	0.48%	0.49%	0.49%
Gross Profit Growth %	0.02%	-0.04%	0.14%	-0.24%	0.03%	0%	0.26%	0.06%	0.07%	0.08%
Operating Expenses+	824.82M	813.31M	882.71M	610.55M	648.44M	648.07M	767.27M	897.42M	900.82M	925.31M
OpEx % of Revenue	0.52%	0.52%	0.53%	0.35%	0.36%	0.36%	0.37%	0.39%	0.37%	0.36%
Selling, General & Admin	754.17M	728.34M	815.07M	472.29M	479.4M	452.55M	545.07M	556.81M	571.27M	586.36M
SG&A % of Revenue	0.48%	0.47%	0.49%	0.27%	0.26%	0.25%	0.26%	0.24%	0.24%	0.23%
Research & Development	0	0	0	84.1M	106.42M	132.43M	160.87M	204.19M	228.8M	248.2M
R&D % of Revenue	-	-	-	0.05%	0.06%	0.07%	0.08%	0.09%	0.09%	0.1%
Other Operating Expenses	70.65M	84.97M	67.64M	54.16M	62.62M	62.14M	61.33M	136.42M	100.75M	90.76M
Operating Income+	136.59M	112.68M	176.59M	190.17M	175.58M	176.26M	268.03M	201.97M	276.27M	351.1M
Operating Margin %	0.09%	0.07%	0.11%	0.11%	0.1%	0.1%	0.13%	0.09%	0.11%	0.14%
Operating Income Growth %	0.49%	-0.18%	0.57%	0.08%	-0.08%	0%	0.52%	-0.25%	0.37%	0.27%
EBITDA+	198.18M	174.4M	238.46M	249.18M	243.63M	246.96M	335.02M	294.54M	371.62M	443.12M
EBITDA Margin %	0.13%	0.11%	0.14%	0.14%	0.13%	0.14%	0.16%	0.13%	0.15%	0.17%
EBITDA Growth %	0.16%	-0.12%	0.37%	0.04%	-0.02%	0.01%	0.36%	-0.12%	0.26%	0.19%
D&A (Non-Cash Add-back)	61.6M	61.72M	61.87M	59.01M	68.05M	70.7M	66.99M	92.58M	95.35M	92.02M
EBIT	138.39M	69.45M	137.7M	203.77M	191.32M	116.16M	291.28M	236.8M	303.6M	384.44M
Net Interest Income+	-39.05M	-34.8M	-19.78M	-16.57M	-5.71M	13.26M	5.79M	6.46M	21.1M	36.48M
Interest Income	7.34M	9.02M	9.9M	14.51M	21.58M	13.98M	6.56M	7.26M	22.12M	37.5M
Interest Expense	46.39M	43.83M	29.68M	31.08M	3.82M	727K	769K	800K	1.01M	1.02M
Other Income/Expense	-39.83M	-82.15M	-65.37M	-14.08M	-11.12M	-60.82M	22.47M	34.03M	26.32M	32.33M
Pretax Income+	96.75M	30.53M	111.22M	176.09M	164.46M	115.43M	290.5M	236M	302.59M	383.42M
Pretax Margin %	0.06%	0.02%	0.07%	0.1%	0.09%	0.06%	0.14%	0.1%	0.12%	0.15%
Income Tax+	33.91M	4.42M	103.96M	48.63M	24.49M	14.6M	70.53M	62.09M	69.84M	89.6M
Effective Tax Rate %	0.65%	0.95%	0.04%	0.71%	0.85%	0.87%	0.76%	0.74%	0.77%	0.77%
Net Income+	63.25M	29.07M	4.3M	125.68M	139.97M	100.1M	219.97M	173.91M	232.39M	293.82M
Net Margin %	0.04%	0.02%	0%	0.07%	0.08%	0.06%	0.11%	0.08%	0.1%	0.11%
Net Income Growth %	0.9%	-0.54%	-0.85%	28.26%	0.11%	-0.28%	1.2%	-0.21%	0.34%	0.26%
Net Income (Continuing)	62.84M	26.11M	7.27M	127.46M	139.97M	100.84M	219.97M	173.91M	232.75M	293.82M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	1.7M	-3.57M	84K	1.86M	1.86M	2.59M	2M	2M	0	0
EPS (Diluted)+	0.38	0.18	0.03	0.75	0.84	0.60	1.31	1.04	1.40	1.77
EPS Growth %	0.9%	-0.53%	-0.83%	24%	0.12%	-0.29%	1.18%	-0.21%	0.35%	0.26%
EPS (Basic)	0.38	0.18	0.03	0.76	0.84	0.60	1.31	1.04	1.41	1.79
Diluted Shares Outstanding	166.42M	162.82M	164.26M	166.94M	167.54M	168.04M	168.53M	167.14M	165.66M	165.8M
Basic Shares Outstanding	164.39M	161.13M	161.93M	164.84M	166.04M	166.97M	167.93M	166.87M	164.72M	164.43M
Dividend Payout Ratio	0.42%	0.89%	6.05%	0.21%	0.23%	0.38%	0.21%	0.33%	0.3%	0.28%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	862.53M	796.18M	749.7M	893.95M	716.83M	835.84M	952.71M	655.67M	781.65M	936.32M
Cash & Short-Term Investments	613.41M	550.23M	491.5M	612.8M	432.22M	595.16M	661.05M	347.36M	451.57M	565.92M
Cash Only	105.78M	100.69M	182.91M	241.5M	230.43M	286.08M	319.97M	221.38M	289.47M	199.45M
Short-Term Investments	507.64M	449.54M	308.59M	371.3M	201.78M	309.08M	341.07M	125.97M	162.09M	366.47M
Accounts Receivable	207.18M	197.35M	184.88M	222.46M	213.4M	183.69M	232.91M	217.53M	242.49M	249.53M
Days Sales Outstanding	47.88	46.31	40.27	46.44	42.98	37.59	40.97	34.4	36.48	35.22
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	22.51M	32.65M	50.46M	33.33M	42.12M	27.5M	25.55M	35.93M	27.89M	71M
Total Non-Current Assets+	1.56B	1.39B	1.35B	1.3B	1.37B	1.47B	1.61B	1.87B	1.93B	1.9B
Property, Plant & Equipment	632.44M	596.74M	640.94M	638.85M	627.12M	594.52M	637.52M	611.3M	549.62M	521.13M
Fixed Asset Turnover	2.50x	2.61x	2.61x	2.74x	2.89x	3.00x	3.25x	3.78x	4.41x	4.96x
Goodwill	109.08M	134.52M	143.55M	140.28M	138.67M	171.66M	166.36M	414.05M	416.1M	412.17M
Intangible Assets	0	0	0	0	0	0	14.25M	312.33M	283.01M	255.53M
Long-Term Investments	313.95M	202.91M	241.41M	213.56M	251.7M	286.83M	413.38M	138.92M	257.63M	345.95M
Other Non-Current Assets	190.54M	153.7M	171.14M	182.06M	239.59M	319.33M	284.1M	300.14M	309.6M	256.5M
Total Assets+	2.42B	2.19B	2.1B	2.2B	2.09B	2.31B	2.56B	2.53B	2.71B	2.84B
Asset Turnover	0.65x	0.71x	0.80x	0.80x	0.87x	0.77x	0.81x	0.91x	0.89x	0.91x
Asset Growth %	-0.06%	-0.1%	-0.04%	0.05%	-0.05%	0.1%	0.11%	-0.01%	0.07%	0.05%
Total Current Liabilities+	563.59M	398.74M	415.66M	673.3M	437.69M	486.75M	559.15M	571.21M	611.56M	613.53M
Accounts Payable	96.08M	104.46M	125.48M	111.55M	116.57M	123.16M	127.07M	114.65M	116.94M	123.61M
Days Payables Outstanding	56.76	60.58	74.31	42.96	43.06	46.86	44.62	34.61	34.17	34.45
Short-Term Debt	188.38M	0	0	246.8M	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	60.18M	66.69M	75.05M	84.04M	88.42M	105.35M	119.3M	155.94M	172.77M	176.56M
Current Ratio	1.53x	2.00x	1.80x	1.33x	1.64x	1.72x	1.70x	1.15x	1.28x	1.53x
Quick Ratio	1.53x	2.00x	1.80x	1.33x	1.64x	1.72x	1.70x	1.15x	1.28x	1.53x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	1.03B	942.41M	786.76M	481.18M	477.58M	492.83M	464.23M	362.57M	339.82M	300.74M
Long-Term Debt	242.85M	240.2M	250.21M	0	0	0	0	0	0	0
Capital Lease Obligations	0	6.78M	6.8M	0	55.14M	52.7M	63.61M	59.12M	42.91M	37.26M
Deferred Tax Liabilities	-35.58M	-31.01M	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	782.8M	695.44M	529.75M	481.18M	422.44M	440.13M	400.62M	303.45M	296.91M	263.49M
Total Liabilities	1.59B	1.34B	1.2B	1.15B	915.27M	979.58M	1.02B	933.78M	951.38M	914.27M
Total Debt+	431.23M	246.98M	250.21M	253.63M	55.14M	52.7M	63.61M	59.12M	42.91M	47.77M
Net Debt	325.45M	146.29M	67.3M	12.13M	-175.29M	-233.38M	-256.36M	-162.26M	-246.57M	-151.67M
Debt / Equity	0.52x	0.29x	0.28x	0.24x	0.05x	0.04x	0.04x	0.04x	0.02x	0.02x
Debt / EBITDA	2.18x	1.42x	1.05x	1.02x	0.23x	0.21x	0.19x	0.20x	0.12x	0.11x
Net Debt / EBITDA	1.64x	0.84x	0.28x	0.05x	-0.72x	-0.95x	-0.77x	-0.55x	-0.66x	-0.34x
Interest Coverage	2.94x	2.57x	5.95x	6.12x	45.96x	242.44x	348.55x	252.46x	272.46x	345.23x
Total Equity+	828.46M	844.24M	897.36M	1.04B	1.17B	1.33B	1.54B	1.6B	1.76B	1.93B
Equity Growth %	0.14%	0.02%	0.06%	0.16%	0.13%	0.13%	0.16%	0.04%	0.1%	0.09%
Book Value per Share	4.98	5.19	5.46	6.25	7.01	7.90	9.14	9.57	10.64	11.62
Total Shareholders' Equity	826.75M	847.82M	897.28M	1.04B	1.17B	1.33B	1.54B	1.6B	1.76B	1.93B
Common Stock	16.91M	17M	17.11M	17.4M	17.5M	17.61M	17.68M	17.71M	17.77M	17.87M
Retained Earnings	1.33B	1.33B	1.31B	1.51B	1.61B	1.67B	1.85B	1.96B	2.12B	2.33B
Treasury Stock	-156.16M	-171.21M	-171.21M	-171.21M	-171.21M	-171.21M	-171.21M	-276.27M	-320.82M	-406.45M
Accumulated OCI	-509.09M	-479.82M	-423.03M	-517.72M	-494.98M	-410.18M	-383.2M	-357.85M	-352.86M	-365.81M
Minority Interest	1.7M	-3.57M	84K	1.86M	1.86M	2.59M	2M	2M	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	175.33M	94.25M	86.71M	157.12M	189.9M	297.93M	269.1M	150.69M	360.62M	410.51M
Operating CF Margin %	0.11%	0.06%	0.05%	0.09%	0.1%	0.17%	0.13%	0.07%	0.15%	0.16%
Operating CF Growth %	1.18%	-0.46%	-0.08%	0.81%	0.21%	0.57%	-0.1%	-0.44%	1.39%	0.14%
Net Income	62.84M	23.83M	6.84M	127.46M	139.97M	100.84M	219.97M	173.91M	232.39M	293.82M
Depreciation & Amortization	61.6M	61.72M	61.87M	59.01M	68.05M	70.7M	66.99M	92.58M	95.35M	92.02M
Stock-Based Compensation	10.59M	12.43M	14.81M	12.96M	12.95M	14.44M	22.21M	35.31M	54.78M	67.5M
Deferred Taxes	-8.47M	-8.04M	100.83M	4.05M	-385K	-16.04M	-6.36M	0	0	0
Other Non-Cash Items	42.51M	18.65M	-97.96M	-56.5M	-27.56M	47.88M	-39.22M	-46.14M	-14.72M	-37.4M
Working Capital Changes	6.27M	-14.35M	323K	10.14M	-3.12M	80.11M	5.5M	-104.96M	-7.17M	-5.44M
Change in Receivables	5.51M	9.82M	12.47M	-37.58M	9.06M	29.71M	-49.22M	20.89M	-24.95M	-7.04M
Change in Inventory	22.14M	1.6M	-30.53M	18.24M	-3.35M	8.96M	-5.29M	0	0	0
Change in Payables	-22.83M	-32.28M	10.01M	20.49M	-13.2M	24.52M	46.05M	-111.22M	-7.32M	-21.03M
Cash from Investing+	-30.7M	128.27M	21.02M	-101.09M	93.21M	-199.08M	-180.81M	-73.56M	-159.69M	-306.09M
Capital Expenditures	-26.96M	-30.09M	-84.75M	-77.49M	-45.44M	-34.45M	-34.64M	-36.96M	-22.67M	-29.17M
CapEx % of Revenue	0.02%	0.02%	0.05%	0.04%	0.03%	0.02%	0.02%	0.02%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-3.13M	40.26M	23.83M	-64.61M	-42.08M	9.69M	-30.92M	2.48M	4.75M	12.51M
Cash from Financing+	-214.21M	-227.4M	-26.02M	3.82M	-295.29M	-44.97M	-54.95M	-174.31M	-132.71M	-192.72M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-26.6M	-25.9M	-26M	-26.42M	-31.6M	-38.44M	-45.34M	-56.79M	-69.46M	-82.86M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.3M	3.19M	-4.06M	-10.49M	-15.65M	-12.61M	-12.06M	-12.46M	-18.69M	-24.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	148.36M	64.15M	1.96M	79.63M	144.46M	263.48M	234.46M	113.73M	337.95M	381.34M
FCF Margin %	0.09%	0.04%	0%	0.05%	0.08%	0.15%	0.11%	0.05%	0.14%	0.15%
FCF Growth %	2.29%	-0.57%	-0.97%	39.65%	0.81%	0.82%	-0.11%	-0.51%	1.97%	0.13%
FCF per Share	0.89	0.39	0.01	0.48	0.86	1.57	1.39	0.68	2.04	2.30
FCF Conversion (FCF/Net Income)	2.77x	3.24x	20.18x	1.25x	1.36x	2.98x	1.22x	0.87x	1.55x	1.40x
Interest Paid	41.45M	39.49M	27.73M	0	28.05M	508K	546K	1.58M	708K	716K
Taxes Paid	21.08M	44.9M	21.55M	0	30.41M	24.38M	66.44M	110.16M	71.81M	113.09M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.13%	3.48%	0.49%	12.96%	12.63%	8%	15.34%	11.07%	13.82%	15.92%
Return on Invested Capital (ROIC)	8.67%	7.88%	13.55%	14.13%	12.83%	12.63%	16.9%	11.13%	14.03%	16%
Gross Margin	60.88%	59.54%	63.22%	45.79%	45.47%	46.22%	49.9%	47.63%	48.52%	49.36%
Net Margin	4%	1.87%	0.26%	7.19%	7.72%	5.61%	10.6%	7.53%	9.58%	11.36%
Debt / Equity	0.52x	0.29x	0.28x	0.24x	0.05x	0.04x	0.04x	0.04x	0.02x	0.02x
Interest Coverage	2.94x	2.57x	5.95x	6.12x	45.96x	242.44x	348.55x	252.46x	272.46x	345.23x
FCF Conversion	2.77x	3.24x	20.18x	1.25x	1.36x	2.98x	1.22x	0.87x	1.55x	1.40x
Revenue Growth	-0.59%	-1.51%	7.73%	4.35%	3.64%	-1.58%	16.33%	11.25%	5.1%	6.59%

Revenue by Segment

	2011	2012	2018	2019	2020	2021	2022	2023	2024
Subscription	-	-	1.04B	1.08B	-	-	-	1.66B	1.79B
Subscription Growth	-	-	-	3.96%	-	-	-	-	7.97%
Advertising	-	-	-	-	-	-	-	505.21M	506.31M
Advertising Growth	-	-	-	-	-	-	-	-	0.22%
Other Products and Services	-	-	147.77M	197.66M	195.85M	215.23M	-	264.79M	291.4M
Other Products and Services Growth	-	-	-	33.75%	-0.91%	9.89%	-	-	10.05%
Building Real Estate	-	-	23M	-	29M	-	29M	27M	27M
Building Real Estate Growth	-	-	-	-	-	-	-	-6.90%	0.00%
Digital-Only Subscription Revenue	-	-	400.62M	1.08B	-	-	-	-	-
Digital-Only Subscription Revenue Growth	-	-	-	170.54%	-	-	-	-	-
Print Subscription	-	-	-	623.4M	-	-	-	-	-
Print Subscription Growth	-	-	-	-	-	-	-	-	-
News Products	-	-	378.48M	426.13M	-	-	-	-	-
News Products Growth	-	-	-	12.59%	-	-	-	-	-
Other Products	-	-	22.14M	34.33M	-	-	-	-	-
Other Products Growth	-	-	-	55.07%	-	-	-	-	-
New York Times Media Group	705.16M	795.04M	-	-	-	-	-	-	-
New York Times Media Group Growth	-	12.75%	-	-	-	-	-	-	-
New England Media Group	157.82M	157.93M	-	-	-	-	-	-	-
New England Media Group Growth	-	0.07%	-	-	-	-	-	-	-
News Media Group	941.47M	-	-	-	-	-	-	-	-
News Media Group Growth	-	-	-	-	-	-	-	-	-
Regional Media Group	78.49M	-	-	-	-	-	-	-	-
Regional Media Group Growth	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

The New York Times Company (NYT) has a price-to-earnings (P/E) ratio of 40.4x. This suggests investors expect higher future growth.

Growth & Financials

The New York Times Company (NYT) reported $2.75B in revenue for fiscal year 2024. This represents a 18% increase from $2.32B in 2011.

The New York Times Company (NYT) grew revenue by 6.6% over the past year. This is steady growth.

Yes, The New York Times Company (NYT) is profitable, generating $337.9M in net income for fiscal year 2024 (11.4% net margin).

Dividend & Returns

Yes, The New York Times Company (NYT) pays a dividend with a yield of 0.70%. This makes it attractive for income-focused investors.

The New York Times Company (NYT) has a return on equity (ROE) of 15.9%. This is reasonable for most industries.

The New York Times Company (NYT) generated $536.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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