# Gray Media Inc. (GTN) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Communication Services / Media. Price $4.95, market value $510 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Gray Media Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.2×**. Each dollar of revenue is priced at 0.2×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.2×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 8.8×**. Enterprise value is 8.8× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 28.6%** (5-yr avg 71.9%). Free cash flow equals 28.6% of the market value, below its five-year average of 71.9%, so the shares are pricier on cash than usual. Above 5% is generally attractive.

## Profitability
- **Operating margin: 13.8%**. 13.8% of revenue is left after running the business.
- **Net margin: -2.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -3.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 4.6%**. Return on all capital, debt included, is 4.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -0.2%**. Each dollar of assets produces -0.2% of profit.

## Growth
- **Revenue growth (1 yr): -15.1%** (3-yr -5.6%/yr, 5-yr 5.4%/yr). Revenue fell 15.1% over the last year, against 5.4% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -142.0%**. Earnings per share fell 142.0%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -22.8%/yr**. Free cash flow has compounded at -22.8% a year over three years.

## Financial health
- **Debt to equity: 2.67**. Debt is 2.67 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 8.0×**. It would take 8.0 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 0.75**. A Z-score of 0.75 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 6.46%** ($0.32 per share, trailing). Gray Media Inc. yields 6.46%, high enough to check carefully: yields this high often precede a cut.
- **Consecutive years of increases: 5**. 5 straight years of increases.

## Price and momentum
- **Total return (1 yr): -13.4%** (YTD 6.2%, 3-mo 26.0%). The shares are down 13.4% over twelve months including dividends.
- **From 52-week high: -23.1%** (39.4% above the low). Trading 23% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 1.14** (volatility 63%). Beta of 1.14 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=GTN · Page: https://foliofundamentals.com/stocks/gtn

Not investment advice.