TGNA

MKT CAP:$3B

TEGNA Inc.

Market Cap

$3B

Communication Services·Broadcasting·🇺🇸 United States·NYSE

Communication·Broadcasting·🇺🇸·NYSE

Stock Price

$20.03+$0.74 (+3.84%)

Mar 20, 2026

Company Details

TEGNA Inc. operates as a media company in the United States. The company operates television stations that deliver television programming and digital content. It offers news content to consumers across various platforms, including online, m...

CEO

Michael F. Steib

IPO Date

Mar 17, 1980

Website

www.tegna.com

Key Metrics TTM

Revenue

$2.8B

-0.9% YoY

Net Income

$308M

EPS (Diluted)

$1.88

Free Cash Flow

$423M

Revenue / Share

$17.44

Gross Margin

39.1%

Operating Margin

19.9%

Net Margin

10.8%

FCF Margin

14.9%

P/S

1.1x

P/E

10.5x

Earnings Reports

FY 2025

Mar 2, 2026

$2.7B-12.6%EPS $1.34

Q4 2025

Mar 2, 2026

$706MEPS $0.34

Q3 2025

Nov 10, 2025

$651M-19.3%EPS $0.23

Q2 2025

Aug 7, 2025

$675M-5.0%EPS $0.42

FY 2024

Feb 27, 2025

$3.1B+6.6%EPS $3.53

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$756M	$357M	$211M
Q4 21	$775M	$367M	$209M
Q1 22	$774M	$363M	$209M
Q2 22	$785M	$365M	$221M
Q3 22	$803M	$374M	$232M
Q4 22	$917M	$484M	$328M
Q1 23	$740M	$313M	$174M
Q2 23	$732M	$301M	$282M
Q3 23	$713M	$275M	$135M
Q4 23	$726M	$303M	$144M
Q1 24	$714M	$284M	$138M
Q2 24	$710M	$249M	$142M
Q3 24	$807M	$369M	$230M
Q2 25	$675M	$252M	$122M
Q3 25	$651M	$229M	$92M
Q4 25	$706M	$261M	$119M

Valuation

Quarter	P/S	P/E
Q3 21	1.0x	5.5x
Q4 21	1.1x	6.8x
Q1 22	1.1x	6.5x
Q2 22	1.0x	6.2x
Q3 22	1.0x	6.0x
Q4 22	1.0x	5.1x
Q1 23	1.0x	5.4x
Q2 23	1.0x	4.9x
Q3 23	1.0x	5.2x
Q4 23	1.1x	6.8x
Q1 24	1.1x	5.8x
Q2 24	1.1x	7.3x
Q3 24	1.1x	6.6x
Q2 25	1.1x	6.7x
Q3 25	1.1x	9.7x
Q4 25	1.1x	10.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$146M	$134M
Q4 21	$159M	$135M
Q1 22	$196M	$191M
Q2 22	$195M	$178M
Q3 22	$209M	$197M
Q4 22	$211M	$196M
Q1 23	$170M	$168M
Q2 23	$137M	$125M
Q3 23	$101M	$87M
Q4 23	$178M	$153M
Q1 24	$100M	$95M
Q2 24	$125M	$109M
Q3 24	$210M	$195M
Q2 25	$100M	$93M
Q3 25	$59M	$48M
Q4 25	$107M	$87M

Capital Expenditures

Quarter	CapEx
Q3 21	$12M
Q4 21	$24M
Q1 22	$6M
Q2 22	$18M
Q3 22	$12M
Q4 22	$16M
Q1 23	$3M
Q2 23	$12M
Q3 23	$15M
Q4 23	$25M
Q1 24	$5M
Q2 24	$16M
Q3 24	$15M
Q2 25	$7M
Q3 25	$11M
Q4 25	$21M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+2.5%	+6.7%
Q4 21	-17.4%	+3.9%
Q1 22	+6.5%	+6.4%
Q2 22	+7.1%	+3.0%
Q3 22	+6.2%	+4.7%
Q4 22	+18.4%	+4.2%
Q1 23	-4.4%	+0.3%
Q2 23	-6.8%	-20.2%
Q3 23	-11.2%	+1.4%
Q4 23	-20.9%	-1.2%
Q1 24	-3.5%	+1.8%
Q2 24	-2.9%	+26.4%
Q3 24	+13.1%	-0.3%
Q2 25	-7.0%	-5.1%
Q3 25	-8.9%	-3.1%
Q4 25	-0.6%	+3.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$7M	0.9%
Q4 21	$12M	1.5%
Q1 22	$0	0.0%
Q2 22	$7M	0.9%
Q3 22	$6M	0.8%
Q4 22	$7M	0.7%
Q1 23	$4M	0.5%
Q2 23	$5M	0.7%
Q3 23	$7M	0.9%
Q4 23	$9M	1.3%
Q1 24	$11M	1.6%
Q2 24	$9M	1.3%
Q3 24	$11M	1.3%
Q2 25	$6M	0.9%
Q3 25	$7M	1.1%
Q4 25	$6M	0.8%

OpEx Breakdown

Quarter	G&A	S&M
Q3 21	$12M	$98M
Q4 21	$126M	—
Q1 22	$123M	—
Q2 22	$113M	—
Q3 22	$112M	—
Q4 22	$126M	—
Q1 23	$111M	—
Q2 23	$124M	—
Q3 23	$112M	—
Q4 23	$131M	—
Q1 24	$117M	—
Q2 24	$11M	$97M
Q3 24	$110M	—
Q2 25	$105M	—
Q3 25	$113M	—
Q4 25	$56M	—

Revenue Segments

Quarter	Operating Segments
Q3 25	$651M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$43M	$0	$43M
Q2 22	$201M	$0	$201M
Q3 22	$377M	$0	$377M
Q4 22	$552M	$0	$552M
Q1 23	$683M	$0	$683M
Q2 23	$489M	$0	$489M
Q3 23	$553M	$0	$553M
Q4 23	$361M	$0	$361M
Q1 24	$431M	$0	$431M
Q2 24	$446M	$0	$446M
Q3 24	$536M	$0	$536M
Q4 24	$693M	$0	$693M
Q1 25	$717M	$0	$717M
Q2 25	$757M	$0	$757M
Q3 25	$233M	$0	$233M
Q4 25	$0	$0	$0

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	223M	+0.1%	+1.3%
Q4 21	223M	+0.3%	+1.2%
Q1 22	223M	-0.1%	+0.9%
Q2 22	224M	+0.6%	+0.9%
Q3 22	225M	+0.2%	+1.0%
Q4 22	225M	+0.2%	+0.9%
Q1 23	225M	-0.2%	+0.7%
Q2 23	218M	-3.1%	-2.9%
Q3 23	201M	-7.7%	-10.5%
Q4 23	188M	-6.5%	-16.4%
Q1 24	178M	-5.2%	-20.6%
Q2 24	170M	-4.8%	-22.1%
Q3 24	166M	-2.4%	-17.6%
Q2 25	162M	-2.1%	-13.8%
Q3 25	163M	+0.5%	-8.6%
Q4 25	163M	-0.1%	-4.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$117.6K	6K
Q4 21	$124.9K	6K
Q1 22	$124.9K	6K
Q2 22	$126.6K	6K
Q3 22	$129.5K	6K
Q4 22	$145.6K	6K
Q1 23	$117.5K	6K
Q2 23	$116.1K	6K
Q3 23	$113.2K	6K
Q4 23	$117.1K	6K
Q1 24	$115.2K	6K
Q2 24	$114.6K	6K
Q3 24	$130.1K	6K
Q2 25	$114.4K	6K
Q3 25	$110.3K	6K
Q4 25	$16M	44

Revenue / Employee