profit from every $100 of sales.
$0$100
Gray Media
$5.99+3.10% today
+23.8% in 1 year
1-year low $3.581-year high $6.20
Trading close to its highest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Gray Media sold, what it kept, and what it did with the cash.
Sales went from $3.68 billion in 2022 to $3.10 billion in 2025, with -$85.0 million of profit last year.
SalesProfit
Gray Media handed back 47% of the cash it generated last year.
$85M
Free cash flow 2025$181M
Bought back its own shares–
Paid as dividends$85M
Cash vs. debt$368M vs. $5.8B
Gray Media vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Gray Media | No profit yet | ||
 Nexstar Media Group | 58.8× · Expensive | ||
 TBS Holdings,Inc. | 21.8× · Fair price | ||
 Nippon Television Holdings | 15.7× · Fair price | ||
 Fuji Media Holdings | No profit yet |
AI analysis
An AI analyst reads Gray Media's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 3,676 | 3,281 | 3,644 | 3,095 | |
| 1,428 | 898 | 1,244 | 761 | |
| 988 | 447 | 871 | 411 | |
| 1,352 | 734 | 1,274 | 625 | |
| 455 | -76 | 375 | -85 | |
| 4.33 | -1.39 | 3.36 | -1.41 | |
| 38.8% | 27.4% | 34.1% | 24.6% | |
| 26.9% | 13.6% | 23.9% | 13.3% | |
| 12.4% | -2.3% | 10.3% | -2.7% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 11,152 | 10,640 | 10,542 | 10,440 |
| Cash | 61 | 21 | 135 | 368 |
| Total debt | 6,533 | 6,240 | 5,693 | 5,813 |
| Total liabilities | 8,386 | 8,019 | 7,609 | 7,635 |
| 2,766 | 2,621 | 2,933 | 2,805 | |
| 93 | 92 | 96 | 97 | |
| 8.2% | 3.2% | 8.9% | 3.3% | |
| 16.4% | -2.9% | 12.8% | -3.0% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 829 | 648 | 751 | 289 | |
| 436 | 348 | 143 | 108 | |
| 393 | 300 | 608 | 181 | |
| Dividends paid | 82 | 82 | 84 | 85 |
| 50 | 0 | 0 | – | |
| 31 | 30 | 22 | 22 |
Valuation
- –
- 2.4×
- –
- 0.1×
- 0.2×
- 3.4×
- 9.7×
- 29.3%
- -13.8%
- 8.2%
Profitability
- 24.6%
- 13.3%
- -2.7%
- 31.5%
- 3.2%
- 1.7%
- -3.4%
- -0.9%
- 3.9%
- –
Growth
- −5.6%
- –
- −70.2%
- –
- +0.5%
Financial health
- 5.7×
- 2.10
- 56.3%
- 1.6×
- 1.20
- 1.17
- 0.30
How it ranks in Communication Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 26%of 436
Top 48%of 438
Bottom 8%of 440
Top 2%of 440
What analysts expect
- Average price target
- $8.00
- Range
- $8.00 – $8.00
- 1 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 7, 2026 | -0.34 | -0.32 | −6.3% |
| Feb 26, 2026 | -0.22 | -0.28 | +21.4% |
| Nov 7, 2025 | -0.24 | -0.41 | +41.5% |
| Aug 8, 2025 | -0.42 | -0.23 | −82.6% |
| May 8, 2025 | -0.23 | -0.49 | +53.1% |
| Feb 27, 2025 | 1.59 | 1.59 | +0.0% |
| Nov 8, 2024 | 0.87 | 0.92 | −5.4% |
| Aug 8, 2024 | 0.09 | 0.10 | −10.0% |
8.2%of the share price, paid each year
On $1,000 invested$82a year at today's yield, before tax
–per share
Raised–not every year
Paid per share, each year
$0.32 in 2021 → $0.32 in 2025
How safe it looks
-89.6% of its profit
Room to growStretchedMore than it earns: 47.0%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
21No pass
Benjamin Graham
45No pass
Philip Fisher
28No pass
Peter Lynch
11No pass
Joel Greenblatt
21No pass
Charlie Munger
15No pass
Terry Smith
9No pass
Questions about Gray Media
Is Gray Media a good stock to buy?
A business with weak numbers that is not profitable yet. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Gray Media AI analysis
What does Gray Media do?
Gray Media, Inc., a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It is in Broadcasting.
Does Gray Media pay a dividend?
Yes. At today's price the dividend is 8.2% a year. In 2025 it paid out $85.0 million in dividends.
Is Gray Media stock halal?
No. Gray Media does not pass our halal screen: its debt is 942% of its market value, at or above the 33% limit. How we check
How has Gray Media stock done over the past year?
Up 23.8% over the past twelve months, to $5.99. It traded between $3.58 and $6.20 and is 3.4% below its high.
Who are Gray Media's competitors?
The largest listed companies in the same industry are Nexstar Media Group, TBS Holdings,Inc., Nippon Television Holdings and Fuji Media Holdings. The peers table on this page compares their profit, growth and price with Gray Media's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.