GTN (Gray Media, Inc.) Stock Financials & Earnings | Market Cap Arena

GTN (Gray Media, Inc.) Stock Financials & Earnings | Market Cap Arena

GTNGray Media, Inc.

Mkt Cap$491M

Communication Services·Broadcasting·🇺🇸 United States·NYSE

Revenue (TTM)$3.1B

Net Income (TTM)-$85M

EPS (TTM)-$1.28

Free Cash Flow (TTM)$61M

Gross Margin96.6%

Op. Margin12.7%

Net Margin-2.7%

FCF Margin2.0%

P/S Ratio (TTM)0.2x

P/E Ratio (TTM)—

YoY Rev Growth-15.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$801M	$187M	$67M
Q2 23	$813M	$250M	$119M
Q3 23	$803M	$228M	$84M
Q4 23	$864M	$233M	$113M
Q1 24	$823M	$219M	$124M
Q2 24	$826M	$247M	$152M
Q3 24	$950M	$357M	$250M
Q4 24	$1.0B	$421M	$325M
Q1 25	$782M	$185M	$92M
Q2 25	$772M	$189M	$82M
Q3 25	$749M	$726M	$102M
Q4 25	$792M	$1.9B	$116M

Valuation

Quarter	P/S	P/E
Q1 23	0.1x	1.4x
Q2 23	0.1x	1.8x
Q3 23	0.1x	4.1x
Q4 23	0.1x	—
Q1 24	0.1x	11.4x
Q2 24	0.1x	8.0x
Q3 24	0.1x	2.5x
Q4 24	0.1x	1.3x
Q1 25	0.1x	1.8x
Q2 25	0.1x	2.5x
Q3 25	0.1x	5.2x
Q4 25	0.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$412M	$302M
Q2 23	$47M	-$56M
Q3 23	$106M	$31M
Q4 23	$83M	$23M
Q1 24	$68M	$34M
Q2 24	$18M	-$11M
Q3 24	$297M	$257M
Q4 24	$368M	$328M
Q1 25	$132M	$117M
Q2 25	$31M	$6M
Q3 25	$14M	-$11M
Q4 25	$112M	-$51M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$110M
Q2 23	$103M
Q3 23	$75M
Q4 23	$60M
Q1 24	$34M
Q2 24	$29M
Q3 24	$40M
Q4 24	$40M
Q1 25	$15M
Q2 25	$25M
Q3 25	$25M
Q4 25	$163M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-3.1%	+10.7%
Q2 23	-6.3%	+6.8%
Q3 23	-11.7%	+8.3%
Q4 23	-19.4%	+5.9%
Q1 24	+2.7%	-4.8%
Q2 24	+1.6%	-2.9%
Q3 24	+18.3%	-2.6%
Q4 24	+20.9%	-4.1%
Q1 25	-5.0%	-1.3%
Q2 25	-6.5%	+2.4%
Q3 25	-21.2%	-7.6%
Q4 25	-24.2%	-6.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$2M	0.2%
Q2 23	$7M	0.9%
Q3 23	$5M	0.6%
Q4 23	$16M	1.9%
Q1 24	$6M	0.7%
Q2 24	$6M	0.7%
Q3 24	$0	0.0%
Q4 24	$5M	0.5%
Q1 25	$7M	0.9%
Q2 25	$5M	0.6%
Q3 25	$5M	0.7%
Q4 25	$41M	5.2%

OpEx Breakdown

Quarter	G&A
Q1 23	$26M
Q2 23	$30M
Q3 23	$23M
Q4 23	$33M
Q1 24	$28M
Q2 24	$28M
Q3 24	$24M
Q4 24	$24M
Q1 25	$32M
Q2 25	$25M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$56M	$0	$56M
Q2 23	$36M	$0	$36M
Q3 23	$21M	$0	$21M
Q4 23	$21M	$0	$21M
Q1 24	$134M	$0	$134M
Q2 24	$75M	$0	$75M
Q3 24	$69M	$0	$69M
Q4 24	$135M	$0	$135M
Q1 25	$210M	$0	$210M
Q2 25	$199M	$0	$199M
Q3 25	$182M	$0	$182M
Q4 25	$368M	$0	$368M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	92M	+0.0%
Q2 23	93M	+1.1%
Q3 23	93M	+0.0%
Q4 23	93M	+0.0%
Q1 24	95M	+2.2%
Q2 24	96M	+1.1%
Q3 24	97M	+1.0%
Q4 24	98M	+1.0%
Q1 25	96M	-2.0%
Q2 25	97M	+1.0%
Q3 25	97M	+0.0%
Q4 25	97M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$187K	3K
FY 15	$171K	3K
FY 16	$220K	4K
FY 17	$238K	4K
FY 18	$147K	7K
FY 19	$307K	7K
FY 20	$339K	7K
FY 21	$280K	9K
FY 22	$411K	9K
FY 23	$350K	9K
FY 24	$400K	9K
FY 25	$339K	9K