GRAY MEDIA INC (GTN) Fundamental Analysis & Valuation

NYSE:GTN • US3893751061

5.66 USD
+0.43 (+8.22%)
At close: Mar 4, 2026
5.66 USD
0 (0%)
After Hours: 3/4/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This GTN fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

3

Taking everything into account, GTN scores 3 out of 10 in our fundamental rating. GTN was compared to 91 industry peers in the Media industry. Both the profitability and financial health of GTN have multiple concerns. GTN has a valuation in line with the averages, but on the other hand it scores bad on growth. GTN also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

3

1. GTN Profitability Analysis

1.1 Basic Checks

  • GTN had negative earnings in the past year.
  • GTN had a positive operating cash flow in the past year.
  • In multiple years GTN reported negative net income over the last 5 years.
  • In the past 5 years GTN always reported a positive cash flow from operatings.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M

1.2 Ratios

  • GTN has a Return On Assets (-1.31%) which is in line with its industry peers.
  • With a decent Return On Equity value of -4.88%, GTN is doing good in the industry, outperforming 60.44% of the companies in the same industry.
  • GTN has a Return On Invested Capital of 3.37%. This is in the better half of the industry: GTN outperforms 61.54% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for GTN is below the industry average of 6.92%.
Industry RankSector Rank
ROA -1.31%
ROE -4.88%
ROIC 3.37%
ROA(3y)0.18%
ROA(5y)0.9%
ROE(3y)0.41%
ROE(5y)3.48%
ROIC(3y)4.37%
ROIC(5y)4.64%
GTN Yearly ROA, ROE, ROICGTN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20

1.3 Margins

  • The Operating Margin of GTN (14.18%) is better than 80.22% of its industry peers.
  • In the last couple of years the Operating Margin of GTN has declined.
  • GTN's Gross Margin of 24.59% is on the low side compared to the rest of the industry. GTN is outperformed by 68.13% of its industry peers.
  • GTN's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 14.18%
PM (TTM) N/A
GM 24.59%
OM growth 3Y-21.16%
OM growth 5Y-16.99%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-14.26%
GM growth 5Y-11.33%
GTN Yearly Profit, Operating, Gross MarginsGTN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. GTN Health Analysis

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.
  • The debt/assets ratio for GTN is higher compared to a year ago.
GTN Yearly Shares OutstandingGTN Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
GTN Yearly Total Debt VS Total AssetsGTN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • GTN has an Altman-Z score of 0.66. 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 (0.66) which is in line with its industry peers.
  • The Debt to FCF ratio of GTN is 31.73, which is on the high side as it means it would take GTN, 31.73 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 31.73, GTN perfoms like the industry average, outperforming 54.95% of the companies in the same industry.
  • GTN has a Debt/Equity ratio of 2.05. This is a high value indicating a heavy dependency on external financing.
  • GTN's Debt to Equity ratio of 2.05 is on the low side compared to the rest of the industry. GTN is outperformed by 67.03% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.05
Debt/FCF 31.73
Altman-Z 0.66
ROIC/WACC0.54
WACC6.25%
GTN Yearly LT Debt VS Equity VS FCFGTN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.3 Liquidity

  • GTN has a Current Ratio of 1.27. This is a normal value and indicates that GTN is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of GTN (1.27) is comparable to the rest of the industry.
  • GTN has a Quick Ratio of 1.27. This is a normal value and indicates that GTN is financially healthy and should not expect problems in meeting its short term obligations.
  • GTN's Quick ratio of 1.27 is in line compared to the rest of the industry. GTN outperforms 53.85% of its industry peers.
Industry RankSector Rank
Current Ratio 1.27
Quick Ratio 1.27
GTN Yearly Current Assets VS Current LiabilitesGTN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. GTN Growth Analysis

3.1 Past

  • The earnings per share for GTN have decreased strongly by -133.33% in the last year.
  • Looking at the last year, GTN shows a very negative growth in Revenue. The Revenue has decreased by -15.07% in the last year.
  • The Revenue has been growing slightly by 5.39% on average over the past years.
EPS 1Y (TTM)-133.33%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-114.63%
Revenue 1Y (TTM)-15.07%
Revenue growth 3Y-5.57%
Revenue growth 5Y5.39%
Sales Q2Q%-24.21%

3.2 Future

  • GTN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 61.10% yearly.
  • GTN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.25% yearly.
EPS Next Y316.08%
EPS Next 2Y21.17%
EPS Next 3Y61.1%
EPS Next 5YN/A
Revenue Next Year12.75%
Revenue Next 2Y-0.35%
Revenue Next 3Y4.22%
Revenue Next 5Y0.25%

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1B 2B 3B
GTN Yearly EPS VS EstimatesGTN Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 1 -1 2 3 4

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6

4. GTN Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings Ratio is negative for GTN. In the last year negative earnings were reported.
  • GTN is valuated cheaply with a Price/Forward Earnings ratio of 2.32.
  • Based on the Price/Forward Earnings ratio, GTN is valued cheaper than 96.70% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.11, GTN is valued rather cheaply.
Industry RankSector Rank
PE N/A
Fwd PE 2.32
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

  • GTN's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. GTN is cheaper than 69.23% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, GTN is valued cheaply inside the industry as 92.31% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 3.25
EV/EBITDA 8.42
GTN Per share dataGTN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 -40

4.3 Compensation for Growth

  • GTN's 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 61.10% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y21.17%
EPS Next 3Y61.1%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. GTN Dividend Analysis

5.1 Amount

  • GTN has a Yearly Dividend Yield of 6.12%, which is a nice return.
  • GTN's Dividend Yield is rather good when compared to the industry average which is at 1.07. GTN pays more dividend than 93.41% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, GTN pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.12%

5.2 History

  • The dividend of GTN is nicely growing with an annual growth rate of 9.60%!
  • GTN has paid a dividend for at least 10 years, which is a reliable track record.
  • GTN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)9.6%
Div Incr Years0
Div Non Decr Years3
GTN Yearly Dividends per shareGTN Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 0.1 0.2 0.3

5.3 Sustainability

  • GTN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
  • The dividend of GTN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-62.04%
EPS Next 2Y21.17%
EPS Next 3Y61.1%
GTN Yearly Income VS Free CF VS DividendGTN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M

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GTN Fundamentals: All Metrics, Ratios and Statistics

GRAY MEDIA INC

NYSE:GTN (3/4/2026, 8:04:00 PM)

After market: 5.66 0 (0%)

5.66

+0.43 (+8.22%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)02-26
Earnings (Next)05-06
Inst Owners85.51%
Inst Owner Change1.06%
Ins Owners5.74%
Ins Owner Change24.66%
Market Cap587.39M
Revenue(TTM)3.10B
Net Income(TTM)-137.00M
Analysts77.78
Price Target6.53 (15.37%)
Short Float %6.01%
Short Ratio3.72
Dividend
Industry RankSector Rank
Dividend Yield 6.12%
Yearly Dividend0.84
Dividend Growth(5Y)9.6%
DP-62.04%
Div Incr Years0
Div Non Decr Years3
Ex-Date03-13
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)37.88%
Min EPS beat(2)26.32%
Max EPS beat(2)49.44%
EPS beat(4)3
Avg EPS beat(4)28.15%
Min EPS beat(4)-18.14%
Max EPS beat(4)55%
EPS beat(8)5
Avg EPS beat(8)68.71%
EPS beat(12)6
Avg EPS beat(12)25.03%
EPS beat(16)9
Avg EPS beat(16)19.91%
Revenue beat(2)1
Avg Revenue beat(2)0.03%
Min Revenue beat(2)-0.47%
Max Revenue beat(2)0.53%
Revenue beat(4)2
Avg Revenue beat(4)0%
Min Revenue beat(4)-0.47%
Max Revenue beat(4)0.53%
Revenue beat(8)2
Avg Revenue beat(8)-0.81%
Revenue beat(12)4
Avg Revenue beat(12)-0.49%
Revenue beat(16)7
Avg Revenue beat(16)-0.45%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)7.86%
EPS NQ rev (3m)-61.25%
EPS NY rev (1m)2.52%
EPS NY rev (3m)-14.25%
Revenue NQ rev (1m)-0.66%
Revenue NQ rev (3m)-2.48%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)-0.45%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 2.32
P/S 0.19
P/FCF 3.25
P/OCF 2.03
P/B 0.21
P/tB N/A
EV/EBITDA 8.42
EPS(TTM)-1.13
EYN/A
EPS(NY)2.44
Fwd EY43.14%
FCF(TTM)1.74
FCFY30.81%
OCF(TTM)2.78
OCFY49.2%
SpS29.82
BVpS27.03
TBVpS-51.1
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -1.31%
ROE -4.88%
ROCE 4.42%
ROIC 3.37%
ROICexc 3.5%
ROICexgc 23.11%
OM 14.18%
PM (TTM) N/A
GM 24.59%
FCFM 5.85%
ROA(3y)0.18%
ROA(5y)0.9%
ROE(3y)0.41%
ROE(5y)3.48%
ROIC(3y)4.37%
ROIC(5y)4.64%
ROICexc(3y)4.45%
ROICexc(5y)4.7%
ROICexgc(3y)26.9%
ROICexgc(5y)27.2%
ROCE(3y)5.74%
ROCE(5y)6.09%
ROICexgc growth 3Y-16.38%
ROICexgc growth 5Y-16.01%
ROICexc growth 3Y-22.73%
ROICexc growth 5Y-18.72%
OM growth 3Y-21.16%
OM growth 5Y-16.99%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-14.26%
GM growth 5Y-11.33%
F-Score3
Asset Turnover0.3
Health
Industry RankSector Rank
Debt/Equity 2.05
Debt/FCF 31.73
Debt/EBITDA 8.17
Cap/Depr 40.91%
Cap/Sales 3.49%
Interest Coverage 1.12
Cash Conversion 41.11%
Profit Quality N/A
Current Ratio 1.27
Quick Ratio 1.27
Altman-Z 0.66
F-Score3
WACC6.25%
ROIC/WACC0.54
Cap/Depr(3y)60.54%
Cap/Depr(5y)75.02%
Cap/Sales(3y)6.01%
Cap/Sales(5y)7.69%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-133.33%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-114.63%
EPS Next Y316.08%
EPS Next 2Y21.17%
EPS Next 3Y61.1%
EPS Next 5YN/A
Revenue 1Y (TTM)-15.07%
Revenue growth 3Y-5.57%
Revenue growth 5Y5.39%
Sales Q2Q%-24.21%
Revenue Next Year12.75%
Revenue Next 2Y-0.35%
Revenue Next 3Y4.22%
Revenue Next 5Y0.25%
EBIT growth 1Y-49.6%
EBIT growth 3Y-25.55%
EBIT growth 5Y-12.51%
EBIT Next Year190.04%
EBIT Next 3Y42.74%
EBIT Next 5Y16.22%
FCF growth 1Y-70.23%
FCF growth 3Y-22.77%
FCF growth 5Y-19.7%
OCF growth 1Y-61.52%
OCF growth 3Y-29.62%
OCF growth 5Y-15.02%

GRAY MEDIA INC / GTN FAQ

What is the fundamental rating for GTN stock?

ChartMill assigns a fundamental rating of 3 / 10 to GTN.


What is the valuation status of GRAY MEDIA INC (GTN) stock?

ChartMill assigns a valuation rating of 6 / 10 to GRAY MEDIA INC (GTN). This can be considered as Fairly Valued.


What is the profitability of GTN stock?

GRAY MEDIA INC (GTN) has a profitability rating of 3 / 10.


How financially healthy is GRAY MEDIA INC?

The financial health rating of GRAY MEDIA INC (GTN) is 2 / 10.