# Gray Media, Inc. (GTN-A)

> Source: Nexqual · https://nexqual.com/GTN-A · data as of 2026-10-15 13:44 UTC · cite as "Nexqual, Gray Media, Inc. (GTN-A), nexqual.com/GTN-A" · informational, not investment advice.

**Price:** USD 5.58 (+6.29% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 5.25 · day 5.58–5.58 · 52w 4.57–15.33 · market cap $575M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.15B, net income -$26.0M (-0.8% margin), free cash flow $146M (SEC filings).
- Total return with dividends: 1Y -41.0% vs S&P 500 +18.1%; 5Y -69.1% vs S&P 500 +85.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.41B | $3.68B | $3.28B | $3.64B | $3.10B | $3.15B |
| Operating income | $381M | $990M | $383M | $851M | $392M | $435M |
| Net income | $90.0M | $455M | -$76.0M | $375M | -$85.0M | -$26.0M |
| EPS (diluted) | $0.40 | $4.33 | -$1.39 | $3.36 | -$1.41 | — |
| Free cash flow | $93.0M | $393M | $300M | $608M | $181M | $146M |
| Operating margin | 15.8% | 26.9% | 11.7% | 23.4% | 12.7% | 13.8% |
| Net margin | 3.7% | 12.4% | -2.3% | 10.3% | -2.7% | -0.8% |
| Revenue growth | +1.3% | +52.3% | -10.7% | +11.1% | -15.1% | — |
| Cash + short-term investments | $189M | $61.0M | $21.0M | $135M | $368M | — |
| Total debt | $6.75B | $6.46B | $6.16B | $5.62B | $5.74B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.2x · EV/EBITDA 9.9x · EV/Sales 2.0x · P/FCF 3.9x · P/B 0.3x · FCF yield 25.41% · Earnings yield -4.52% · Dividend yield (paid, TTM) 5.92% · Net debt $5.63B · EV $6.21B
P/E at fiscal year-ends: Dec 2024 1.9x.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -41.0% | -69.1% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -41.1% | -20.9% |
| Volatility (annualized) | 100.5% | 63.7% |
| Max drawdown | -65.5% (Jan 2026→Sep 2026) | -74.0% (Feb 2022→Oct 2026) |

## Peers (Broadcasting)
SBGI (Sinclair, Inc.) USD 12.7 +0.32% · NMAX (Newsmax, Inc.) USD 9.31 -7.36% · NXST (Nexstar Media Group, Inc.) USD 164.65 +2.55% · FOXA (Fox Corporation) USD 63.98 +2.37% · BIDU (Baidu, Inc.) USD 82.56 -1.41% · RDDT (Reddit, Inc.) USD 159.36 +2.62%

## More
Full page: https://nexqual.com/GTN-A · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt