New York Times Company (NYT)
NYSE:NYT
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New York Times
(NYSE:NYT)
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Rating:80Outperform
Price Target:
$92.00
▲(11.12% Upside)
Action:ReiteratedDate:02/28/26
The score is driven mainly by strong financial performance (margin expansion, strong free cash flow, and a debt-free balance sheet) and supportive earnings-call guidance pointing to continued growth and capital returns. Offsetting factors are a stretched technical setup (overbought signals) and a rich valuation (high P/E with modest yield).
Positive Factors
Balance Sheet Strength
NYT’s elimination of debt and rising equity produce a structurally conservative balance sheet that materially lowers financial risk and preserves optionality. Debt-free status supports sustained capital returns, strategic M&A or product investments, and resilience through cyclical ad or macro slowdowns without leveraging the business.
Negative Factors
Print Revenue Declines
Ongoing print revenue erosion is a structural headwind that shrinks a legacy revenue base and forces higher reliance on digital growth to sustain aggregate top-line. Fixed costs and legacy distribution economics mean print declines can pressure margins and require continued reallocation of resources to digital transformation.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
NYT’s elimination of debt and rising equity produce a structurally conservative balance sheet that materially lowers financial risk and preserves optionality. Debt-free status supports sustained capital returns, strategic M&A or product investments, and resilience through cyclical ad or macro slowdowns without leveraging the business.
Read all positive factors
New York Times (NYT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.35B
Dividend Yield0.95%
Average Volume (3M)2.36M
Price to Earnings (P/E)32.9
Beta (1Y)0.44
Revenue Growth8.43%
EPS Growth21.38%
CountryUS
Employees5,900
SectorCommunication Services
Sector Strength97
IndustryPublishing
Share Statistics
EPS (TTM)0.89
Shares Outstanding160,457,960
10 Day Avg. Volume2,443,752
30 Day Avg. Volume2,360,474
Financial Highlights & Ratios
PEG Ratio1.84
Price to Book (P/B)5.55
Price to Sales (P/S)4.01
P/FCF Ratio20.57
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue4.67
Enterprise Value/Gross Profit9.14
Enterprise Value/Ebitda24.34
Forecast
1Y Price Target
$72.33Price Target Upside-12.63% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)2.69
Revenue Forecast (FY)$3.06B
New York Times Business Overview & Revenue Model
Company Description
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as w...
How the Company Makes Money
The New York Times generates revenue through several key streams, primarily focusing on subscription-based models. The company offers digital subscriptions, which have become a significant source of income, allowing readers access to online conten...
New York Times Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call emphasized strong execution and clear progress on strategic priorities, highlighted by meaningful subscriber additions, record digital revenues, robust advertising growth, AOP and margin expansion, and strong free cash flow and shareholder returns. Near-term concerns include higher-than-expected Q4 costs (incentive compensation) and continued investment-driven cost growth in early 2026, plus persistent print declines and AI/legal uncertainties. Overall the positives (subscriber momentum, revenue and profit growth, cash generation, and confident guidance) materially outweigh the manageable lowlights.Positive Updates
Strong Subscriber Growth
Added 1,400,000 net new digital subscribers in 2025, bringing total digital subscribers to 12,800,000; added 450,000 net new digital subscribers in Q4 alone, supporting funnel expansion and cross-product engagement.
Negative Updates
Costs Above Guidance in Q4
Adjusted operating costs grew ~9.7% in Q4, above the prior guidance range of 6%–7%. Primary drivers were higher incentive compensation tied to financial outperformance and ramped investments (notably video production).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Subscriber Growth
Added 1,400,000 net new digital subscribers in 2025, bringing total digital subscribers to 12,800,000; added 450,000 net new digital subscribers in Q4 alone, supporting funnel expansion and cross-product engagement.
Read all positive updates
Company Guidance
For Q1 2026 management guided digital‑only subscription revenues to grow 14%–17% and total subscription revenues to grow 9%–11%; digital advertising to increase in the high‑teens to low‑20s with total advertising up in the low double‑digit range; affiliate, licensing and other revenues to rise high single digits; and adjusted operating costs to increase 8%–9%. For full‑year 2026 they expect another year of subscriber growth, revenue growth, AOP margin expansion and strong free cash flow while staying on track to hit mid‑term targets for subscribers, AOP growth and capital returns (targeting at least 50% of free cash flow returned to shareholders). They also said they will discontinue certain subscriber‑category disclosures, raised the quarterly dividend from $0.18 to $0.23, and have approximately $350 million remaining on the share‑repurchase authorization.New York Times Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
93
Very Positive
Cash Flow
86
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.82B | 2.59B | 2.43B | 2.31B | 2.07B |
| Gross Profit | 1.35B | 1.28B | 1.18B | 1.10B | 1.04B |
| EBITDA | 537.43M | 476.46M | 398.95M | 328.58M | 358.26M |
| Net Income | 343.98M | 293.82M | 232.39M | 173.91M | 219.97M |
Balance Sheet | |||||
| Total Assets | 3.00B | 2.84B | 2.71B | 2.53B | 2.56B |
| Cash, Cash Equivalents and Short-Term Investments | 642.16M | 565.92M | 451.57M | 347.36M | 661.05M |
| Total Debt | 48.72M | 47.77M | 42.91M | 59.12M | 63.61M |
| Total Liabilities | 955.73M | 914.27M | 951.38M | 933.78M | 1.02B |
| Stockholders Equity | 2.04B | 1.93B | 1.76B | 1.60B | 1.54B |
Cash Flow | |||||
| Free Cash Flow | 550.50M | 381.34M | 337.95M | 113.73M | 234.46M |
| Operating Cash Flow | 584.49M | 410.51M | 360.62M | 150.69M | 269.10M |
| Investing Cash Flow | -221.32M | -306.09M | -159.69M | -73.56M | -180.81M |
| Financing Cash Flow | -306.14M | -192.72M | -132.71M | -174.31M | -54.95M |
New York Times Technical Analysis
Positive
82.79
Price Trends
76.21
Positive
71.20
Positive
63.72
Positive
Market Momentum
2.03
Negative
61.97
Neutral
69.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NYT, the sentiment is Positive. The current price of 82.79 is above the 20-day moving average (MA) of 81.05, above the 50-day MA of 76.21, and above the 200-day MA of 63.72, indicating a bullish trend. The MACD of 2.03 indicates Negative momentum. The RSI at 61.97 is Neutral, neither overbought nor oversold. The STOCH value of 69.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NYT.
New York Times Risk Analysis
New York Times disclosed 30 risk factors in its most recent earnings report. New York Times reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
New York Times Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $13.35B | 32.93 | 17.55% | 0.95% | 8.43% | 21.38% | |
70 Outperform | $1.93B | 13.74 | 20.75% | 4.48% | -5.33% | ― | |
64 Neutral | $7.83B | 20.71 | 9.26% | 2.11% | 1.93% | 34.40% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $189.04M | -1.01 | 61.72% | ― | -8.02% | -44.34% |
* Communication Services Sector Average
NYT
New York Times
82.79
33.82
69.05%
WLY
John Wiley Sons Cl A
37.62
-5.28
-12.31%
LEE
Lee Enterprises
8.50
-1.88
-18.11%
PSO
Pearson
12.59
-3.02
-19.34%
New York Times Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
New York Times Adopts New Executive Severance and Protections
Positive
Jan 21, 2026
On January 15, 2026, The New York Times Company’s board Compensation Committee approved a new Executive Severance Plan to standardize severance arrangements for senior leaders and better align them with market practice, while also bolstering...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.