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Gray Television
(NYSE:GTN)
Gray Television (GTN) vs. SPDR S&P 500 ETF (SPY)
Gray Television Business Overview & Revenue Model
Gray Television Earnings Call Summary
Gray Television Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.64B | 3.28B | 3.68B | 2.41B | 2.38B |
| Gross Profit | 1.24B | 898.00M | 1.43B | 803.00M | 989.00M |
| EBITDA | 1.25B | 697.00M | 1.33B | 594.00M | 936.00M |
| Net Income | 375.00M | -76.00M | 455.00M | 90.00M | 410.00M |
Balance Sheet | |||||
| Total Assets | 10.68B | 10.64B | 11.15B | 11.11B | 7.64B |
| Cash, Cash Equivalents and Short-Term Investments | 135.00M | 21.00M | 61.00M | 189.00M | 773.00M |
| Total Debt | 5.69B | 6.24B | 6.53B | 6.83B | 4.03B |
| Total Liabilities | 7.61B | 8.02B | 8.39B | 8.70B | 5.24B |
| Stockholders Equity | 2.93B | 2.62B | 2.77B | 2.41B | 2.40B |
Cash Flow | |||||
| Free Cash Flow | 608.00M | 300.00M | 393.00M | 93.00M | 542.00M |
| Operating Cash Flow | 751.00M | 648.00M | 829.00M | 300.00M | 652.00M |
| Investing Cash Flow | -28.00M | -291.00M | -503.00M | -3.53B | -211.00M |
| Financing Cash Flow | -609.00M | -397.00M | -454.00M | 2.65B | 120.00M |
Gray Television Technical Analysis
Gray Television Risk Analysis
Gray Television Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $294.71M | 3.64 | 11.23% | ― | 6.28% | ― | |
74 Outperform | $85.42M | 23.79 | 2.06% | 7.45% | -1.65% | -51.45% | |
74 Outperform | $2.78B | 6.07 | 16.07% | 2.90% | 6.34% | -0.26% | |
67 Neutral | $595.07M | 2.30 | 9.92% | 6.23% | 9.08% | ― | |
62 Neutral | $42.18B | -1.51 | -12.07% | 2.79% | 2.09% | -71.01% | |
57 Neutral | $221.98M | ― | -82.15% | 8.55% | -66.94% | -52.19% | |
44 Neutral | $14.67M | ― | -243.54% | ― | -2.92% | -165.37% |
Gray Television Corporate Events
On July 22, 2025, Gray Media, Inc. announced the pricing of a $775 million offering of 7.250% senior secured first lien notes due 2033, which marks an increase of $75 million from the previously announced amount. The proceeds from this offering are intended to repay portions of existing term loans and revolving credit facility, cover fees and expenses related to the offering, and support general corporate purposes. This strategic financial move is expected to impact Gray’s operations by restructuring its debt and potentially improving its financial stability.
The most recent analyst rating on (GTN) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Gray Television stock, see the GTN Stock Forecast page.
On July 22, 2025, Gray Media, Inc. announced its plan to offer $700 million in senior secured first lien notes due 2033, subject to market conditions. The proceeds from this offering, along with borrowings under the company’s revolving credit facility, will be used to repay portions of its term loans due in 2028 and 2029. This strategic financial move is aimed at optimizing Gray’s debt structure and potentially improving its financial flexibility.
The most recent analyst rating on (GTN) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Gray Television stock, see the GTN Stock Forecast page.
On July 18, 2025, Gray Media, Inc. completed the issuance of $900 million in 9.625% senior secured second lien notes due 2032. The proceeds from these notes, along with borrowings from its revolving credit facility, were used to redeem existing senior notes, repay part of a term loan, and cover associated fees. This financial maneuver aims to strengthen Gray’s financial structure by managing its debt obligations effectively. Additionally, Gray amended its senior credit facility, increasing its revolving credit commitments by $50 million and extending the maturity date to December 1, 2028, enhancing its liquidity and financial flexibility.
The most recent analyst rating on (GTN) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on Gray Television stock, see the GTN Stock Forecast page.
On July 8, 2025, Gray Media, Inc. announced the pricing of a $900 million offering of 9.625% senior secured second lien notes due 2032, marking a $150 million increase from the previously announced amount. The proceeds from this offering, along with borrowings under the company’s revolving credit facility, will be used to redeem existing 7.000% senior notes due 2027, repay part of a term loan, and cover related fees and expenses, potentially impacting the company’s financial structure and debt management strategy.
The most recent analyst rating on (GTN) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Gray Television stock, see the GTN Stock Forecast page.
On July 8, 2025, Gray Media announced the commencement of an offering of $750 million in senior secured second lien notes due 2032, intended to redeem existing notes and repay portions of term loans. This financial maneuver aims to enhance the company’s balance sheet and financial flexibility. Additionally, Gray Media updated its financial guidance for the second quarter of 2025, reflecting recent market conditions and developments, including a non-cash impairment charge of $29 million related to its Atlanta station, WANF, which will cease its CBS affiliation in August 2025. These strategic moves are expected to impact Gray Media’s financial operations and market positioning.
The most recent analyst rating on (GTN) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Gray Television stock, see the GTN Stock Forecast page.
On June 2, 2025, Gray Media announced the renewal of 52 out of its 53 CBS network affiliations in an agreement with CBS, a subsidiary of Paramount Global. Effective August 16, 2025, Gray’s Atlanta station WANF will discontinue its CBS affiliation to become an independent station focusing on the Atlanta market. This strategic move may impact Gray’s operations by allowing it to tailor content specifically for the Atlanta audience, potentially strengthening its market position in the region.
The most recent analyst rating on (GTN) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Gray Television stock, see the GTN Stock Forecast page.
On May 7, 2025, Gray Television, Inc. held its Annual Meeting of Shareholders, where the amendment and restatement of the 2022 Equity and Incentive Compensation Plan were approved. This decision increases the number of shares reserved for issuance and extends the plan’s termination date, potentially impacting the company’s equity structure and stakeholder interests. Additionally, the meeting included the election of directors and the ratification of RSM US LLP as the independent registered public accounting firm for 2025.