TEGNA (TGNA) AI Stock Analysis

• Market Cap: $3.22B
• Dividend Yield: 2.51%
• Average Volume (3M): 1.36M
• Price to Earnings (P/E): 9.4
• Beta (1Y): 0.65
• Revenue Growth: -2.73%
• EPS Growth: -25.06%
• Country: US
• Employees: 5,900
• Sector: Communication Services
• Sector Strength: 97
• Industry: Broadcasting
• EPS (TTM): 0.33
• Shares Outstanding: 161,056,800
• 10 Day Avg. Volume: 1,451,350
• 30 Day Avg. Volume: 1,363,144
• PEG Ratio: 0.09
• Price to Book (P/B): 1.03
• Price to Sales (P/S): 0.99
• P/FCF Ratio: 4.87
• Enterprise Value/Market Cap: 1.76
• Enterprise Value/Revenue: 1.97
• Enterprise Value/Gross Profit: 5.00
• Enterprise Value/Ebitda: 8.00
• 1Y Price Target: $22.00
• Price Target Upside: 10.17% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): 1.54
• Revenue Forecast (FY): $2.71B

• Rating: 65 Neutral
• Price Target: $21.50 ▲(7.66% Upside)

TEGNA's overall stock score reflects a mixed financial performance with challenges in revenue growth and profitability, offset by a strong balance sheet and attractive valuation. Technical indicators suggest potential consolidation, while the earnings call highlights both strategic progress and market challenges. The stock's low P/E ratio and reasonable dividend yield provide some support for its valuation.

Positive Factors

Strong Digital Growth

The sustained growth in digital products indicates successful adaptation to digital trends, enhancing TEGNA's market position and revenue diversification.

Operational Cost Efficiency

Effective cost-cutting measures enhance profitability and financial resilience, allowing TEGNA to navigate market challenges more effectively.

Positive Regulatory Developments

This regulatory change could provide TEGNA with more strategic options in the broadcasting landscape, potentially enhancing competitive positioning.

Negative Factors

Revenue Decline

The decline in revenue highlights challenges in maintaining top-line growth, which could impact long-term financial performance if not addressed.

Challenging Advertising Market

A challenging advertising market due to cyclical factors and macroeconomic headwinds could pressure revenue and profitability in the near to mid-term.

Adverse Impact from Premion Changes

The loss of a key reseller partner impacts AMS revenue, potentially affecting TEGNA's ability to capitalize on advertising opportunities.

TEGNA Business Overview & Revenue Model

Company Description

TEGNA Inc. operates as a media company in the United States. The company operates television stations that deliver television programming and digital content. It offers news content to consumers across various platforms, including online, mobile, and social platforms; owns and operates multicast networks under the names True Crime Network, Quest, and Twist that offer on-demand episodes of shows; and operates VAULT Studios, which provides true crime and investigative content in the form of podcasts and original television programs. The company also provides solutions for advertisers through TEGNA Marketing Solutions (TMS). TMS delivers results for advertisers across television and digital platforms, as well as over-the-top (OTT) platforms, including Premion OTT advertising network. As of February 28, 2022, it operated 64 television stations in 51 markets. The company was formerly known as Gannett Co., Inc. and changed its name to TEGNA Inc. in June 2015. TEGNA Inc. was founded in 1906 and is headquartered in Tysons, Virginia.

How the Company Makes Money

TEGNA generates revenue primarily through advertising sales, which account for a significant portion of its earnings. Local and national advertisers purchase airtime on its television stations to reach specific demographics, contributing to the company's advertising revenue. Additionally, TEGNA earns money through retransmission consent fees, where cable and satellite providers pay to carry the company's broadcast signals. The company also generates revenue from its digital platforms, including its websites and mobile applications, which attract both advertising and subscription-based revenue. Partnerships with various content providers and technology companies further enhance TEGNA's revenue streams, enabling it to expand its reach and innovate in content delivery.

TEGNA Financial Statement Overview

Summary

TEGNA's financial performance is mixed, with challenges in revenue growth and profitability as indicated by declining margins and negative revenue growth. However, the balance sheet shows improved leverage and a strong equity base, providing financial stability. Cash flow generation has weakened, but the company maintains a solid free cash flow to net income ratio.

Income Statement

TEGNA's income statement shows a decline in revenue growth with a negative rate of -5.15% in the TTM period, indicating potential challenges in maintaining top-line growth. The gross profit margin has decreased from 43.39% in 2024 to 39.45% in the TTM period, reflecting pressure on cost management. Net profit margin also declined to 12.00% from 19.34% in 2024, suggesting reduced profitability. However, the company maintains a reasonable EBIT margin of 21.15% and an EBITDA margin of 23.79%, indicating operational efficiency.

Balance Sheet

TEGNA's balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.83 in the TTM period, improved from 1.04 in 2024, indicating reduced leverage. The return on equity (ROE) is 11.27%, down from 19.96% in 2024, suggesting a decline in profitability relative to equity. The equity ratio stands at 45.77%, showing a solid equity base relative to total assets, which enhances financial stability.

Cash Flow

The cash flow statement reveals a significant decline in free cash flow growth at -25.41% in the TTM period, indicating challenges in generating cash. The operating cash flow to net income ratio is 0.72, down from 1.47 in 2024, suggesting reduced cash conversion efficiency. However, the free cash flow to net income ratio remains strong at 0.91, indicating that the company still generates substantial free cash flow relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.88B	3.10B	2.91B	3.28B	2.99B	2.94B
Gross Profit	1.13B	1.35B	1.19B	1.59B	1.39B	1.43B
EBITDA	708.82M	1.06B	892.69M	1.13B	927.18M	1.00B
Net Income	345.26M	599.82M	476.72M	630.47M	477.00M	482.78M
Balance Sheet
Total Assets	6.81B	7.33B	7.00B	7.33B	6.92B	6.85B
Cash, Cash Equivalents and Short-Term Investments	232.78M	693.21M	361.04M	551.68M	56.99M	40.97M
Total Debt	2.59B	3.14B	3.16B	3.16B	3.32B	3.65B
Total Liabilities	3.69B	4.30B	4.28B	4.24B	4.38B	4.78B
Stockholders Equity	3.12B	3.00B	2.70B	3.07B	2.52B	2.06B
Cash Flow
Free Cash Flow	429.42M	632.53M	532.55M	760.82M	438.54M	759.64M
Operating Cash Flow	468.38M	684.97M	587.25M	812.15M	501.61M	805.14M
Investing Cash Flow	-42.05M	31.77M	-27.99M	-51.23M	-69.26M	-59.52M
Financing Cash Flow	-729.81M	-384.56M	-749.90M	-266.23M	-416.33M	-734.05M

TEGNA Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.97
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TGNA, the sentiment is Positive. The current price of 19.97 is above the 20-day moving average (MA) of 19.87, below the 50-day MA of 20.15, and above the 200-day MA of 18.15, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 50.87 is Neutral, neither overbought nor oversold. The STOCH value of 35.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TGNA.

TEGNA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TGNA	65 Neutral	$3.22B	9.43	11.50%	2.51%	-2.73%	-25.06%
GTN	64 Neutral	$506.85M	11.20	3.36%	6.96%	-3.32%	-69.63%
SSP	61 Neutral	$191.68M	4.46	1.81%	―	-3.27%	86.01%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
IHRT	54 Neutral	$530.90M	―	―	―	1.39%	61.75%
FUBO	48 Neutral	$1.08B	8.81	38.60%	―	1.70%	―
NMAX	37 Underperform	$953.68M	―	―	―	―	―

TEGNA Corporate Events

TEGNA Inc. Reports Q3 2025 Financial Results Amid Acquisition Plans

TEGNA Inc. is a media company operating in the broadcasting industry, known for its extensive network of television stations across the United States. The company provides local news and services, reaching over 100 million people monthly through various platforms.

TEGNA Faces Legal Challenges Over Merger Disclosure

On August 18, 2025, TEGNA Inc. entered into a merger agreement with Nexstar Media Group, where TEGNA will become a wholly owned subsidiary of Nexstar. Following this announcement, TEGNA faced legal challenges from stockholders alleging misleading information in the merger proxy statements. To address these claims and avoid delays, TEGNA has decided to make supplemental disclosures, although it maintains that the claims are without merit.

The most recent analyst rating on (TGNA) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on TEGNA stock, see the TGNA Stock Forecast page.

TEGNA Merger with Nexstar Faces DOJ Review

On August 18, 2025, TEGNA Inc. entered into a Merger Agreement with Nexstar Media Group, where TEGNA will become a wholly owned subsidiary of Nexstar. The merger is under review by the U.S. Department of Justice, which issued a Second Request for additional information on October 30, 2025, extending the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The merger is expected to be completed by the second half of 2026, pending regulatory approvals and satisfaction of closing conditions.

The most recent analyst rating on (TGNA) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on TEGNA stock, see the TGNA Stock Forecast page.

TEGNA Alters By-laws, Adjusts Director Retirement Age

On August 26, 2025, TEGNA Inc.’s Board of Directors approved amendments to the company’s By-laws, which are effective immediately. The changes eliminate the mandatory retirement age of seventy-three for both Non-Executive Directors and those who have served as CEO. Instead, directors reaching the age of seventy-five must offer to resign, with the Governance Committee advising the Board on whether to accept or reject the resignation. If rejected, directors must continue to offer their resignation annually.

The most recent analyst rating on (TGNA) stock is a Buy with a $23.50 price target. To see the full list of analyst forecasts on TEGNA stock, see the TGNA Stock Forecast page.

TEGNA Enters Merger Agreement with Nexstar Media

On August 18, 2025, TEGNA Inc. entered into a merger agreement with Nexstar Media Group, where Nexstar will acquire all outstanding shares of TEGNA for $22.00 per share in a transaction valued at $6.2 billion. This merger is expected to enhance Nexstar’s position as a leading local media company, increase its operational and geographic diversity, and drive increased profitability and returns for its shareholders. The transaction, approved by TEGNA’s board, aims to preserve local journalism and strengthen the company’s ability to compete with larger media and tech companies. The merger is subject to customary closing conditions, including regulatory and shareholder approvals, and is expected to close by the second half of 2026.

The most recent analyst rating on (TGNA) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on TEGNA stock, see the TGNA Stock Forecast page.