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GRAY MEDIA INC (GTN) Stock Fundamental Analysis

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

3.925  -0.08 (-1.88%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to GTN. GTN was compared to 93 industry peers in the Media industry. There are concerns on the financial health of GTN while its profitability can be described as average. GTN is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year GTN was profitable.
In the past year GTN had a positive cash flow from operations.
GTN had positive earnings in 4 of the past 5 years.
GTN had a positive operating cash flow in each of the past 5 years.
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

Looking at the Return On Assets, with a value of 1.36%, GTN is in the better half of the industry, outperforming 62.07% of the companies in the same industry.
The Return On Equity of GTN (5.22%) is better than 72.41% of its industry peers.
The Return On Invested Capital of GTN (4.79%) is better than 65.52% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GTN is below the industry average of 7.01%.
The 3 year average ROIC (4.34%) for GTN is below the current ROIC(4.79%), indicating increased profibility in the last year.
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 66.67% of its industry peers.
GTN has a better Operating Margin (18.91%) than 88.51% of its industry peers.
GTN's Operating Margin has declined in the last couple of years.
GTN has a Gross Margin of 30.49%. This is in the lower half of the industry: GTN underperforms 67.82% of its industry peers.
GTN's Gross Margin has declined in the last couple of years.
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.
GTN has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, GTN has more shares outstanding
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

Based on the Altman-Z score of 0.73, we must say that GTN is in the distress zone and has some risk of bankruptcy.
GTN has a Altman-Z score (0.73) which is comparable to the rest of the industry.
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's Debt to FCF ratio of 19.45 is in line compared to the rest of the industry. GTN outperforms 44.83% of its industry peers.
A Debt/Equity ratio of 2.11 is on the high side and indicates that GTN has dependencies on debt financing.
The Debt to Equity ratio of GTN (2.11) is worse than 73.56% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.11
Debt/FCF 19.45
Altman-Z 0.73
ROIC/WACC0.86
WACC5.59%
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

GTN has a Current Ratio of 1.13. This is a normal value and indicates that GTN is financially healthy and should not expect problems in meeting its short term obligations.
GTN has a Current ratio of 1.13. This is in the lower half of the industry: GTN underperforms 65.52% of its industry peers.
GTN has a Quick Ratio of 1.13. This is a normal value and indicates that GTN is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.13, GTN is doing worse than 62.07% 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

GTN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.10% yearly.
The Revenue is expected to grow by 0.24% on average over the next years.
EPS Next Y323.51%
EPS Next 2Y24.13%
EPS Next 3Y59.83%
EPS Next 5Y22.1%
Revenue Next Year10.9%
Revenue Next 2Y-0.7%
Revenue Next 3Y4.6%
Revenue Next 5Y0.24%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

The Price/Earnings ratio is 2.60, which indicates a rather cheap valuation of GTN.
Based on the Price/Earnings ratio, GTN is valued cheaper than 97.70% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 30.30, GTN is valued rather cheaply.
The Forward Price/Earnings Ratio is negative for GTN. No positive earnings are expected for the next year.
Industry RankSector Rank
PE 2.6
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

Based on the Enterprise Value to EBITDA ratio, GTN is valued a bit cheaper than 77.01% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, GTN is valued cheaply inside the industry as 97.70% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 1.29
EV/EBITDA 6.41
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 59.83% in the coming years.
PEG (NY)0.01
PEG (5Y)N/A
EPS Next 2Y24.13%
EPS Next 3Y59.83%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 8.31%, GTN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.48, GTN pays a better dividend. On top of this GTN pays more dividend than 94.25% of the companies listed in the same industry.
GTN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.29.
Industry RankSector Rank
Dividend Yield 8.31%

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 2Y24.13%
EPS Next 3Y59.83%
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 (2/21/2025, 1:02:06 PM)

3.925

-0.08 (-1.88%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)11-08 2024-11-08/bmo
Earnings (Next)02-27 2025-02-27/amc
Inst Owners83.01%
Inst Owner Change-1.25%
Ins Owners5.1%
Ins Owner Change-3.64%
Market Cap391.20M
Analysts72
Price Target5.92 (50.83%)
Short Float %5.26%
Short Ratio3.3
Dividend
Industry RankSector Rank
Dividend Yield 8.31%
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)90.57%
Min EPS beat(4)-44.89%
Max EPS beat(4)421.45%
EPS beat(8)3
Avg EPS beat(8)31.14%
EPS beat(12)5
Avg EPS beat(12)20.11%
EPS beat(16)7
Avg EPS beat(16)18.42%
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)0%
PT rev (3m)-35.56%
EPS NQ rev (1m)5.68%
EPS NQ rev (3m)-49.92%
EPS NY rev (1m)6.44%
EPS NY rev (3m)-27.11%
Revenue NQ rev (1m)0.29%
Revenue NQ rev (3m)-13.8%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.4%
Valuation
Industry RankSector Rank
PE 2.6
Fwd PE N/A
P/S 0.11
P/FCF 1.29
P/OCF 0.84
P/B 0.14
P/tB N/A
EV/EBITDA 6.41
EPS(TTM)1.51
EY38.47%
EPS(NY)-0.64
Fwd EYN/A
FCF(TTM)3.04
FCFY77.45%
OCF(TTM)4.68
OCFY119.12%
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 0.73
F-Score6
WACC5.59%
ROIC/WACC0.86
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 Y323.51%
EPS Next 2Y24.13%
EPS Next 3Y59.83%
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%