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The New York Times Company (NYT)
NYSE:NYT
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New York Times
(NYSE:NYT)
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Rating:79Outperform
Price Target:
$66.00
▼(-7.89% Downside)
The New York Times Company demonstrates strong financial performance and positive earnings call sentiment, driven by digital growth and strategic investments. Despite a high P/E ratio suggesting potential overvaluation, the company's operational efficiency and cash flow generation are significant strengths. Technical indicators show bullish momentum, though caution is advised due to overbought conditions.
Positive Factors
Digital Subscription Growth
The significant increase in digital subscribers indicates strong demand for the company's digital content, supporting long-term revenue growth and market expansion.
Cash Flow Generation
Robust free cash flow generation enhances financial flexibility, allowing for strategic investments and shareholder returns, supporting long-term stability.
Advancements in Video and AI
Investments in video and AI enhance content delivery and personalization, potentially increasing user engagement and competitive advantage in digital media.
Negative Factors
Increased Operating Costs
Rising operating costs, driven by investments, could pressure margins if not offset by revenue growth, impacting long-term profitability.
Volatile Advertising Revenue
Volatility in advertising revenue can lead to unpredictable cash flows, affecting financial planning and potentially hindering long-term growth.
Legal Challenges
Ongoing legal challenges can lead to financial and reputational risks, potentially diverting resources and focus from core business operations.
New York Times (NYT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.57B
Dividend Yield0.95%
Average Volume (3M)1.58M
Price to Earnings (P/E)34.9
Beta (1Y)0.45
Revenue Growth8.43%
EPS Growth21.38%
CountryUS
Employees5,900
SectorCommunication Services
Sector Strength97
IndustryPublishing
Share Statistics
EPS (TTM)0.59
Shares Outstanding161,568,280
10 Day Avg. Volume1,112,665
30 Day Avg. Volume1,583,782
Financial Highlights & Ratios
PEG Ratio1.08
Price to Book (P/B)4.44
Price to Sales (P/S)3.31
P/FCF Ratio22.44
Enterprise Value/Market Cap0.76
Enterprise Value/Revenue3.21
Enterprise Value/Gross Profit6.22
Enterprise Value/Ebitda16.56
Forecast
1Y Price Target
$69.33Price Target Upside-3.24% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
New York Times Business Overview & Revenue Model
Company DescriptionThe 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 well as international edition of The Times; and operates the NYTimes.com Website. The company also transmits articles, graphics, and photographs from The Times and other publications to approximately 1,500 newspapers, magazines, and websites; licenses electronic databases to resellers in the business, professional, and library markets; and offers magazine licensing, news digests, book development, and rights and permissions. In addition, it engages in the live events business, which hosts physical and virtual live events to connect audiences with journalists and outside thought leaders; direct-sold website, mobile application, podcast, email, and video advertisements, as well as digital advertising services; operates Wirecutter, a product review and recommendation products; develops mobile applications, including games and cooking products; prints and distributes products for third parties; and offers other products and services. The company was founded in 1851 and is headquartered in New York, New York.
How the Company Makes MoneyThe 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 content, including articles, podcasts, and newsletters. Additionally, NYT generates revenue from print subscriptions and single-copy sales of its newspapers. Advertising is another crucial revenue stream, with the company selling ad space on its digital platforms and in print editions. NYT has also ventured into branded content and partnerships with other organizations, enhancing its revenue through collaborations and sponsored content. Significant factors contributing to its earnings include its strong brand reputation, a loyal subscriber base, and a growing emphasis on digital transformation to capture a wider audience.
New York Times Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 11, 2026
Earnings Call Sentiment Positive
The New York Times Company's Q3 2025 earnings call highlighted strong performance in digital subscriptions, advertising revenue, and free cash flow generation. The company showed significant advancements in video and AI integration while maintaining operational efficiency. However, there was a slight increase in operating costs, mainly due to investments in journalism and product experiences. Overall, the positive aspects significantly outweigh the challenges.Q3-2025 Updates
Positive Updates
Strong Digital Subscription Growth
The New York Times added 460,000 net new digital subscribers in Q3 2025, bringing the total subscriber base to 12.3 million, with digital subscription revenue increasing by 14%.
Significant Advertising Revenue Increase
Digital advertising revenues grew over 20%, and total advertising revenues increased nearly 12% in Q3 2025.
Record Free Cash Flow and Shareholder Returns
Generated approximately $393 million of free cash flow in the first 9 months of 2025 and returned $191 million to shareholders through share repurchases and dividends.
Advancements in Video and AI Integration
Substantial growth in video journalism and AI-powered personalization, including new video formats and AI-driven features in products like Wirecutter.
Operational Efficiency and Margin Expansion
Adjusted operating profit (AOP) grew by 26% with a margin expansion of 240 basis points year-over-year.
Negative Updates
Increased Operating Costs
Adjusted operating costs grew by 6.2% in Q3, slightly above the guidance range, driven by investments in journalism and product experiences.
Company Guidance
During The New York Times Company's Third Quarter 2025 Earnings Conference Call, the company reported robust financial performance and growth metrics. They achieved a notable addition of 460,000 net new digital subscribers, raising their total subscriber base to 12.3 million, with a target of 15 million in sight. Digital subscription revenue saw a 14% increase, and digital advertising revenue grew over 20%, contributing to total advertising revenue growth of nearly 12%. The company also highlighted a 9.5% year-over-year increase in consolidated revenues, a 26% rise in adjusted operating profit (AOP), and a 240 basis point expansion in AOP margin. Free cash flow generation was strong, with approximately $393 million generated in the first nine months. For the fourth quarter, the company projected digital-only subscription revenue to grow between 13% and 16%, with total subscription revenue expected to rise by 8% to 10%. Additionally, digital advertising revenue is anticipated to increase by mid to high teens, while affiliate licensing and other revenues are expected to grow mid-single digits. The company emphasized disciplined expense growth alongside strategic investments in journalism and product enhancements as a source of long-term advantage.New York Times Financial Statement Overview
Summary
New York Times demonstrates strong financial health with significant revenue and profit growth, effective cost management, and robust cash flow generation. The elimination of debt reduces financial risk, although the absence of some balance sheet metrics limits a complete financial assessment.Income Statement
New York Times has demonstrated strong revenue growth, increasing from $2.42 billion in 2023 to $2.59 billion in 2024, reflecting a growth rate of 6.58%. The gross profit margin has improved to 49.37% in 2024, and the net profit margin is 11.36%, showing efficient cost management and profitability. EBIT and EBITDA margins are healthy at 13.57% and 18.03% respectively, indicating operational efficiency.Balance Sheet
The balance sheet shows a strong position with zero total debt in 2024, reducing financial risk. However, the lack of reported stockholders' equity in 2024 limits the calculation of debt-to-equity ratio and return on equity, which could impact comprehensive financial assessment. The equity ratio in 2023 was 64.95%, reflecting solid equity base relative to assets.Cash Flow
Operating cash flow has increased to $410.51 million, supporting a robust free cash flow of $381.34 million in 2024. The free cash flow growth rate of 12.82% from 2023 indicates strong cash generation capability. Operating cash flow to net income ratio of 1.40 suggests efficient conversion of earnings to cash.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.75B | 2.59B | 2.43B | 2.31B | 2.07B | 1.78B |
| Gross Profit | 1.42B | 1.28B | 1.18B | 1.10B | 1.04B | 824.33M |
| EBITDA | 532.63M | 476.46M | 398.95M | 328.58M | 358.26M | 186.86M |
| Net Income | 337.87M | 293.82M | 232.39M | 173.91M | 219.97M | 100.10M |
Balance Sheet | ||||||
| Total Assets | 2.89B | 2.84B | 2.71B | 2.53B | 2.56B | 2.31B |
| Cash, Cash Equivalents and Short-Term Investments | 617.35M | 565.92M | 451.57M | 347.36M | 661.05M | 595.16M |
| Total Debt | 0.00 | 47.77M | 42.91M | 59.12M | 63.61M | 52.70M |
| Total Liabilities | 906.87M | 914.27M | 951.38M | 933.78M | 1.02B | 979.58M |
| Stockholders Equity | 1.98B | 1.93B | 1.76B | 1.60B | 1.54B | 1.33B |
Cash Flow | ||||||
| Free Cash Flow | 536.52M | 381.34M | 337.95M | 113.73M | 234.46M | 263.48M |
| Operating Cash Flow | 572.03M | 410.51M | 360.62M | 150.69M | 269.10M | 297.93M |
| Investing Cash Flow | -257.74M | -306.09M | -159.69M | -73.56M | -180.81M | -199.08M |
| Financing Cash Flow | -268.80M | -192.72M | -132.71M | -174.31M | -54.95M | -44.97M |
New York Times Technical Analysis
Positive
71.65
Price Trends
65.04
Positive
61.20
Positive
57.18
Positive
Market Momentum
1.62
Positive
72.03
Negative
72.81
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 71.65 is above the 20-day moving average (MA) of 69.47, above the 50-day MA of 65.04, and above the 200-day MA of 57.18, indicating a bullish trend. The MACD of 1.62 indicates Positive momentum. The RSI at 72.03 is Negative, neither overbought nor oversold. The STOCH value of 72.81 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $11.57B | 34.91 | 17.63% | 0.95% | 8.43% | 21.38% | |
74 Outperform | $8.99B | 16.52 | 11.74% | 2.11% | 1.93% | 34.40% | |
69 Neutral | $1.61B | 16.69 | 13.61% | 4.48% | -5.33% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
52 Neutral | $31.81M | -0.78 | ― | ― | -8.02% | -44.34% |
* Communication Services Sector Average
NYT
New York Times
71.65
21.49
42.84%
WLY
John Wiley Sons Cl A
31.39
-9.14
-22.55%
LEE
Lee Enterprises
4.84
-9.19
-65.50%
PSO
Pearson
14.22
-1.21
-7.84%
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.