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Gray Media Inc $GTN

Communication

Russell 2000 Georgia

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$4.70

+0.08 (+1.73%)

As of Oct 22, 2026, 9:33 PM EDT

Price history

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Gray Media Inc (GTN) is trading up at $4.70 (+1.73%), as of the latest quote. It is a Russell 2000 constituent in the Communication sector.

Gray Media Inc revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Gray Media Inc annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$812.5M	$883.0M	$1.08B	$2.12B	$2.38B	$2.41B	$3.68B	$3.28B	$3.64B	$3.10B
Growth (year over year)	+36.0%	+8.7%	+22.8%	+95.8%	+12.2%	+1.3%	+52.3%	−10.7%	+11.1%	−15.1%
Operating income	$234.3M	$290.0M	$389.0M	$478.0M	$752.0M	$381.0M	$990.0M	$383.0M	$851.0M	$392.0M
Operating margin	28.8%	32.8%	35.9%	22.5%	31.6%	15.8%	26.9%	11.7%	23.4%	12.7%
Net income	$62.3M	$262.0M	$211.0M	$179.0M	$410.0M	$90.0M	$455.0M	−$76.0M	$375.0M	−$85.0M
Net margin	7.7%	29.7%	19.5%	8.4%	17.2%	3.7%	12.4%	−2.3%	10.3%	−2.7%
EPS (diluted)	$0.86	$3.55	$2.37	$1.27	$3.69	$0.40	$4.33	−$1.39	$3.36	−$1.41
Balance sheet
Cash and equivalents	$325.2M	$462.4M	$667.0M	$212.0M	$773.0M	$189.0M	$61.0M	$21.0M	$135.0M	$368.0M
Total assets	$2.75B	$3.26B	$4.21B	$6.97B	$7.64B	$11.1B	$11.2B	$10.6B	$10.5B	$10.4B
Total liabilities	$2.26B	$2.27B	$3.03B	$4.86B	$5.24B	$8.70B	$8.39B	$8.02B	$7.61B	$7.63B
Long-term debt	$1.76B	$1.83B	$2.55B	$3.70B	$3.97B	$6.74B	$6.44B	$6.14B	$5.60B	$5.74B
Shareholders' equity	$493.0M	$994.0M	$1.19B	$1.46B	$1.75B	$1.76B	$2.12B	$1.97B	$2.28B	$2.15B
Cash flow
Operating cash flow	$210.1M	$180.0M	$323.0M	$385.0M	$652.0M	$300.0M	$829.0M	$648.0M	$751.0M	$289.0M
Capital expenditure	$43.6M	$35.0M	$70.0M	$110.0M	$110.0M	$207.0M	$436.0M	$348.0M	$143.0M	$108.0M
Free cash flow	$166.5M	$145.0M	$253.0M	$275.0M	$542.0M	$93.0M	$393.0M	$300.0M	$608.0M	$181.0M
Dividends paid	$0	$0	—	$0	$0	$31.0M	$30.0M	$30.0M	$32.0M	$33.0M
Share buybacks	$2.00M	$4.00M	$19.0M	$32.0M	$75.0M	$30.0M	$50.0M	$0	$0	—

RevenueNet incomeNet margin (right axis, %)

Gray Media Inc quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$950.0M	$1.04B	$782.0M	$772.0M	$749.0M	$792.0M	$768.0M	$839.0M
Growth (year over year)	+18.3%	+20.9%	−5.0%	−6.5%	−21.2%	−24.2%	−1.8%	+8.7%
Operating income	$250.0M	$325.0M	$92.0M	$82.0M	$102.0M	$116.0M	$81.0M	$136.0M
Operating margin	26.3%	31.1%	11.8%	10.6%	13.6%	14.6%	10.5%	16.2%
Net income	$96.0M	$169.0M	−$9.00M	−$56.0M	−$10.0M	−$10.0M	−$20.0M	$14.0M
Net margin	10.1%	16.2%	−1.2%	−7.3%	−1.3%	−1.3%	−2.6%	1.7%
EPS (diluted)	$0.86	$1.62	−$0.23	−$0.71	−$0.24	−$0.23	−$0.34	$0.21
Balance sheet
Cash and equivalents	$69.0M	$135.0M	$210.0M	$199.0M	$182.0M	$368.0M	$259.0M	$176.0M
Total assets	$10.6B	$10.5B	$10.4B	$10.4B	$10.3B	$10.4B	$10.3B	$10.4B
Total liabilities	$7.85B	$7.61B	$7.53B	$7.52B	$7.51B	$7.63B	$7.56B	$7.71B
Long-term debt	$5.87B	$5.60B	$5.59B	$5.58B	$5.61B	$5.74B	$5.75B	$5.81B
Shareholders' equity	$2.13B	$2.28B	$2.25B	$2.18B	$2.16B	$2.15B	$2.11B	$2.13B
Cash flow
Operating cash flow	$297.0M	$368.0M	$132.0M	$31.0M	$14.0M	$112.0M	$1.00M	$123.0M
Capital expenditure	$40.0M	$40.0M	$15.0M	$25.0M	$25.0M	$43.0M	$19.0M	$17.0M
Free cash flow	$257.0M	$328.0M	$117.0M	$6.00M	−$11.0M	$69.0M	−$18.0M	$106.0M
Dividends paid	$8.00M	$8.00M	$8.00M	$8.00M	$8.00M	$9.00M	$9.00M	$8.00M

From Gray Media Inc's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →