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GRAY MEDIA INC (GTN) Stock Fundamental Analysis

NYSE:GTN - New York Stock Exchange, Inc. - US3893751061 - Common Stock

3.32  +0.11 (+3.43%)

After market: 3.3455 +0.03 (+0.77%)

Fundamental Rating

4

Overall GTN gets a fundamental rating of 4 out of 10. We evaluated GTN against 91 industry peers in the Media industry. There are concerns on the financial health of GTN while its profitability can be described as average. GTN has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year GTN was profitable.
GTN had a positive operating cash flow in the past year.
Of the past 5 years GTN 4 years were profitable.
Each year in the past 5 years GTN had a positive operating cash flow.
GTN Yearly Net Income VS EBIT VS OCF VS FCFGTN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M 800M

1.2 Ratios

GTN's Return On Assets of 1.36% is fine compared to the rest of the industry. GTN outperforms 62.79% of its industry peers.
With a decent Return On Equity value of 5.22%, GTN is doing good in the industry, outperforming 72.09% of the companies in the same industry.
With a decent Return On Invested Capital value of 4.79%, GTN is doing good in the industry, outperforming 63.95% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for GTN is below the industry average of 6.90%.
The last Return On Invested Capital (4.79%) for GTN is above the 3 year average (4.34%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 1.36%
ROE 5.22%
ROIC 4.79%
ROA(3y)0.92%
ROA(5y)1.85%
ROE(3y)3.75%
ROE(5y)6.43%
ROIC(3y)4.34%
ROIC(5y)5.32%
GTN Yearly ROA, ROE, ROICGTN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20

1.3 Margins

GTN has a Profit Margin of 4.19%. This is in the better half of the industry: GTN outperforms 68.60% of its industry peers.
GTN has a Operating Margin of 18.91%. This is amongst the best in the industry. GTN outperforms 90.70% of its industry peers.
In the last couple of years the Operating Margin of GTN has declined.
Looking at the Gross Margin, with a value of 30.49%, GTN is doing worse than 68.60% of the companies in the same industry.
In the last couple of years the Gross Margin of GTN has declined.
Industry RankSector Rank
OM 18.91%
PM (TTM) 4.19%
GM 30.49%
OM growth 3Y-25.99%
OM growth 5Y-16.85%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-11.68%
GM growth 5Y-7.23%
GTN Yearly Profit, Operating, Gross MarginsGTN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30 40

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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), GTN is destroying value.
Compared to 1 year ago, GTN has more shares outstanding
The number of shares outstanding for GTN has been increased compared to 5 years ago.
GTN has about the same debt/assets ratio as last year.
GTN Yearly Shares OutstandingGTN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
GTN Yearly Total Debt VS Total AssetsGTN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

2.2 Solvency

GTN has an Altman-Z score of 0.72. This is a bad value and indicates that GTN is not financially healthy and even has some risk of bankruptcy.
GTN has a Altman-Z score (0.72) which is in line with its industry peers.
The Debt to FCF ratio of GTN is 19.45, which is on the high side as it means it would take GTN, 19.45 years of fcf income to pay off all of its debts.
GTN has a Debt to FCF ratio (19.45) which is in line with its industry peers.
A Debt/Equity ratio of 2.11 is on the high side and indicates that GTN has dependencies on debt financing.
GTN has a Debt to Equity ratio of 2.11. This is in the lower half of the industry: GTN underperforms 73.26% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.11
Debt/FCF 19.45
Altman-Z 0.72
ROIC/WACC0.87
WACC5.48%
GTN Yearly LT Debt VS Equity VS FCFGTN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

2.3 Liquidity

A Current Ratio of 1.13 indicates that GTN should not have too much problems paying its short term obligations.
With a Current ratio value of 1.13, GTN is not doing good in the industry: 65.12% of the companies in the same industry are doing better.
A Quick Ratio of 1.13 indicates that GTN should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.13, GTN is doing worse than 61.63% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.13
Quick Ratio 1.13
GTN Yearly Current Assets VS Current LiabilitesGTN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 106.85% over the past year.
GTN shows a decrease in Revenue. In the last year, the revenue decreased by -0.75%.
The Revenue has been growing by 24.79% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)106.85%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%252.63%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y11.28%
Revenue growth 5Y24.79%
Sales Q2Q%18.31%

3.2 Future

Based on estimates for the next years, GTN will show a very strong growth in Earnings Per Share. The EPS will grow by 22.10% on average per year.
GTN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.24% yearly.
EPS Next Y309.99%
EPS Next 2Y25.35%
EPS Next 3Y60.85%
EPS Next 5Y22.1%
Revenue Next Year10.9%
Revenue Next 2Y-0.7%
Revenue Next 3Y4.6%
Revenue Next 5Y0.24%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
GTN Yearly Revenue VS EstimatesGTN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B
GTN Yearly EPS VS EstimatesGTN Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2 3 4

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6

4. Valuation

4.1 Price/Earnings Ratio

GTN is valuated cheaply with a Price/Earnings ratio of 2.20.
Based on the Price/Earnings ratio, GTN is valued cheaper than 97.67% of the companies in the same industry.
GTN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.96.
GTN is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE 2.2
Fwd PE N/A
GTN Price Earnings VS Forward Price EarningsGTN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GTN indicates a somewhat cheap valuation: GTN is cheaper than 79.07% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, GTN is valued cheaper than 98.84% of the companies in the same industry.
Industry RankSector Rank
P/FCF 1.09
EV/EBITDA 6.33
GTN Per share dataGTN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 -40

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as GTN's earnings are expected to grow with 60.85% in the coming years.
PEG (NY)0.01
PEG (5Y)N/A
EPS Next 2Y25.35%
EPS Next 3Y60.85%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 9.04%, GTN is a good candidate for dividend investing.
In the last 3 months the price of GTN has falen by -43.34%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
GTN's Dividend Yield is rather good when compared to the industry average which is at 4.36. GTN pays more dividend than 98.84% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.33, GTN pays a better dividend.
Industry RankSector Rank
Dividend Yield 9.04%

5.2 History

GTN has been paying a dividend for at least 10 years, so it has a reliable track record.
GTN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years3
GTN Yearly Dividends per shareGTN Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 0.1 0.2 0.3

5.3 Sustainability

57.93% of the earnings are spent on dividend by GTN. This is a bit on the high side, but may be sustainable.
DP57.93%
EPS Next 2Y25.35%
EPS Next 3Y60.85%
GTN Yearly Income VS Free CF VS DividendGTN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M
GTN Dividend Payout.GTN Dividend Payout, showing the Payout Ratio.GTN Dividend Payout.PayoutRetained Earnings

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GRAY MEDIA INC

NYSE:GTN (1/17/2025, 8:05:13 PM)

After market: 3.3455 +0.03 (+0.77%)

3.32

+0.11 (+3.43%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)11-08 2024-11-08/bmo
Earnings (Next)N/A N/A
Inst Owners83.01%
Inst Owner Change0%
Ins Owners5.1%
Ins Owner Change-2.76%
Market Cap330.90M
Analysts72
Price Target5.92 (78.31%)
Short Float %5.21%
Short Ratio2.82
Dividend
Industry RankSector Rank
Dividend Yield 9.04%
Yearly Dividend0.87
Dividend Growth(5Y)N/A
DP57.93%
Div Incr Years0
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-7.14%
Min EPS beat(2)-7.38%
Max EPS beat(2)-6.9%
EPS beat(4)1
Avg EPS beat(4)71.95%
Min EPS beat(4)-44.89%
Max EPS beat(4)346.96%
EPS beat(8)3
Avg EPS beat(8)21.83%
EPS beat(12)5
Avg EPS beat(12)13.91%
EPS beat(16)7
Avg EPS beat(16)13.77%
Revenue beat(2)0
Avg Revenue beat(2)-2.45%
Min Revenue beat(2)-2.79%
Max Revenue beat(2)-2.11%
Revenue beat(4)0
Avg Revenue beat(4)-1.76%
Min Revenue beat(4)-2.79%
Max Revenue beat(4)-0.91%
Revenue beat(8)3
Avg Revenue beat(8)-0.47%
Revenue beat(12)6
Avg Revenue beat(12)-0.02%
Revenue beat(16)9
Avg Revenue beat(16)0.44%
PT rev (1m)-28.98%
PT rev (3m)-35.56%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-52.61%
EPS NY rev (1m)-2.75%
EPS NY rev (3m)-30.36%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-14.05%
Revenue NY rev (1m)-0.51%
Revenue NY rev (3m)-4.27%
Valuation
Industry RankSector Rank
PE 2.2
Fwd PE N/A
P/S 0.1
P/FCF 1.09
P/OCF 0.71
P/B 0.12
P/tB N/A
EV/EBITDA 6.33
EPS(TTM)1.51
EY45.48%
EPS(NY)-0.6
Fwd EYN/A
FCF(TTM)3.04
FCFY91.57%
OCF(TTM)4.68
OCFY140.83%
SpS34.74
BVpS27.89
TBVpS-55.12
PEG (NY)0.01
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.36%
ROE 5.22%
ROCE 6.47%
ROIC 4.79%
ROICexc 4.83%
ROICexgc 27.27%
OM 18.91%
PM (TTM) 4.19%
GM 30.49%
FCFM 8.75%
ROA(3y)0.92%
ROA(5y)1.85%
ROE(3y)3.75%
ROE(5y)6.43%
ROIC(3y)4.34%
ROIC(5y)5.32%
ROICexc(3y)4.38%
ROICexc(5y)5.57%
ROICexgc(3y)23.93%
ROICexgc(5y)31.62%
ROCE(3y)5.86%
ROCE(5y)7.18%
ROICexcg growth 3Y-29.04%
ROICexcg growth 5Y-4.78%
ROICexc growth 3Y-28.77%
ROICexc growth 5Y-16.76%
OM growth 3Y-25.99%
OM growth 5Y-16.85%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-11.68%
GM growth 5Y-7.23%
F-Score6
Asset Turnover0.33
Health
Industry RankSector Rank
Debt/Equity 2.11
Debt/FCF 19.45
Debt/EBITDA 6.05
Cap/Depr 51.58%
Cap/Sales 4.71%
Interest Coverage 1.67
Cash Conversion 47.99%
Profit Quality 208.97%
Current Ratio 1.13
Quick Ratio 1.13
Altman-Z 0.72
F-Score6
WACC5.48%
ROIC/WACC0.87
Cap/Depr(3y)95.34%
Cap/Depr(5y)75.81%
Cap/Sales(3y)10.35%
Cap/Sales(5y)8.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)106.85%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%252.63%
EPS Next Y309.99%
EPS Next 2Y25.35%
EPS Next 3Y60.85%
EPS Next 5Y22.1%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y11.28%
Revenue growth 5Y24.79%
Sales Q2Q%18.31%
Revenue Next Year10.9%
Revenue Next 2Y-0.7%
Revenue Next 3Y4.6%
Revenue Next 5Y0.24%
EBIT growth 1Y-6.7%
EBIT growth 3Y-17.64%
EBIT growth 5Y3.77%
EBIT Next Year195.1%
EBIT Next 3Y47.32%
EBIT Next 5Y18.58%
FCF growth 1Y15.65%
FCF growth 3Y-17.89%
FCF growth 5Y3.44%
OCF growth 1Y-23.98%
OCF growth 3Y-0.2%
OCF growth 5Y14.92%