GTN - GRAY MEDIA, INC

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	-15.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-288%)	11.1% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+38%)	-10.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-234%)	52.3% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+554%)	1.3% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-83%)	12.2% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+53%)	95.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1097%)	22.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+185%)	8.6% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+8%)	36.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+350%)	17.6% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+119%)	46.7% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+484%)	-14.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-281%)	31.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+298%)	-11.2% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-241%)	28.0% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+250%)	—	—
EPS Growth YoY (%)	N/M	N/M	N/M	995.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-89.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	191.4% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-46.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-33.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	312.6% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	50.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-30.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	159.4% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	-23.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	1300.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-81.2% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—
Net Income Growth YoY (%)	N/M	N/M	N/M	405.6% Excellent ↑ Excellent Improving Year-over-year change in net income	-78.0% Weak ↓ Weak Declining Year-over-year change in net income	129.1% Excellent ↑ Excellent Improving Year-over-year change in net income	-15.2% Weak ↓ Weak Declining Year-over-year change in net income	-19.5% Weak ↓ Weak Declining Year-over-year change in net income	320.7% Excellent ↑ Excellent Improving Year-over-year change in net income	58.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-18.2% Weak ↓ Weak Declining Year-over-year change in net income	162.8% Excellent ↑ Excellent Improving Year-over-year change in net income	-35.0% Weak ↓ Weak Declining Year-over-year change in net income	211.3% Excellent Excellent Year-over-year change in net income	-61.0% Weak Weak Year-over-year change in net income	N/M	—	—
FCF Growth YoY (%)	-70.8% Weak ↓ Weak Declining Year-over-year change in free cash flow	96.3% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-23.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	336.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-82.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	103.2% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-3.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	44.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-14.1% Weak ↓ Weak Declining Year-over-year change in free cash flow	94.5% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-32.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	180.8% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-44.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	366.1% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	-29.4% Weak Weak Year-over-year change in free cash flow	1358.3% Excellent Excellent Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	-5.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	14.7% Good ↓ Good Declining Compound annual revenue growth over 3 years	11.3% Good ↓ Good Declining Compound annual revenue growth over 3 years	20.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	30.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	39.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	37.7% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	22.0% Excellent → Excellent Stable Compound annual revenue growth over 3 years	20.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	32.9% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	13.8% Good ↑ Good Improving Compound annual revenue growth over 3 years	18.3% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	0.0% Weak Weak Compound annual revenue growth over 3 years	14.4% Good Good Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	5.4% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	11.4% Good ↓ Good Declining Compound annual revenue growth over 5 years	24.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	33.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	24.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	31.9% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	33.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	25.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	16.9% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	21.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	11.5% Good Good Compound annual revenue growth over 5 years	13.4% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	104.1% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	—	50.7% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	-44.9% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	1.3% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	13.7% Good ↓ Good Declining Compound annual EPS growth over 3 years	60.3% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	62.9% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	39.6% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	11.4% Good ↓ Good Declining Compound annual EPS growth over 3 years	202.4% Excellent Excellent Compound annual EPS growth over 3 years	26.0% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	12.7% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	23.4% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+17%)	11.7% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-42%)	26.9% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+35%)	15.8% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-21%)	31.6% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+58%)	22.5% Good ↓ Good Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+13%)	35.9% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+79%)	32.9% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+65%)	28.8% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+44%)	23.4% Good ↓ Good Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+17%)	30.3% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+51%)	24.2% Good ↓ Good Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+21%)	37.9% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+90%)	24.5% Good → Good Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+23%)	30.9% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+55%)	15.9% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-20%)	—
Effective Tax Rate (%) (%)	24.8% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	23.8% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	7.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	25.9% Caution ↓ Caution Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	46.4% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.6% Fair Fair Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	-2.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-118%)	10.3% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-31%)	-2.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-115%)	12.4% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-17%)	3.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-75%)	17.2% Good ↓ Good Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+15%)	8.4% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-44%)	19.5% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+30%)	29.7% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+98%)	7.7% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	6.6% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-56%)	9.5% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	5.3% Caution → Caution Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-65%)	6.9% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-54%)	2.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-80%)	6.7% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	-8.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-157%)	—
FCF Margin (%) (%)	5.8% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	16.7% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	9.1% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	10.7% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.9% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	22.8% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	13.0% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	23.3% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	16.5% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	20.5% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	13.6% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	20.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	10.4% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	16.0% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	4.5% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	5.4% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	0.4% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-2.13x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.62x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-3.95x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.86x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.03x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.32x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	1.54x Excellent → Excellent Stable Free cash flow relative to reported net income Optimal: > 1x	1.20x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	0.56x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.67x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.07x Excellent → Excellent Stable Free cash flow relative to reported net income Optimal: > 1x	2.12x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.98x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.31x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.54x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.81x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	-0.05x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%)	3.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	8.3% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	4.3% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.5% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	2.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	9.9% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	7.3% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	8.2% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	8.2% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	8.1% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	6.8% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.6% Fair → Fair Stable Return earned on debt + equity capital invested Optimal: > 10%	6.5% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	12.4% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	6.2% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.9% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	36.4% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	3.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	8.1% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	3.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	8.9% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	3.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	9.8% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.9% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	9.2% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	8.9% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	8.5% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.6% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	8.2% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	6.3% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	12.3% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	6.1% Caution Caution Operating profit relative to total assets Optimal: > 10%	8.6% Fair Fair Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-3.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-133%)	16.4% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+37%)	-3.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-132%)	21.5% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+79%)	5.1% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-57%)	23.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+95%)	12.2% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	17.8% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+48%)	26.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+120%)	12.6% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+5%)	9.2% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-24%)	22.2% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+85%)	10.5% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-12%)	19.5% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+63%)	7.3% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-39%)	17.9% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+49%)	-24.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-305%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Debt to Equity (x)	2.65x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+231%)	2.41x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+201%)	3.15x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+293%)	3.07x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+284%)	3.87x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+384%)	2.28x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+185%)	2.53x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+216%)	2.15x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+168%)	1.81x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+127%)	3.65x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+357%)	2.80x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+249%)	5.55x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+594%)	4.84x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+505%)	5.79x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+623%)	6.77x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+746%)	6.35x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+694%)	—	—
Interest Coverage (x)	0.83x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	1.75x Caution → Caution Stable Operating income divided by interest expense Optimal: > 5x	0.87x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	2.80x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1.86x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	3.94x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	2.11x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	3.64x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	3.05x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	2.41x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1.88x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	2.23x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1.60x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	2.58x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1.22x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	1.53x Caution Caution Operating income divided by interest expense Optimal: > 5x	0.62x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$5.33B	$5.37B	$6.18B	$6.44B	$6.61B	$3.23B	$3.48B	$1.88B	$1.34B	$1.47B	$1.10B	$1.17B	$829.42M	$821.83M	$827.04M	$816.45M	$-16.00M	$-30.65M
Debt / EBITDA (x)	10.86x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.53x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	11.74x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.81x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	14.02x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.72x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.63x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.75x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.25x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.43x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.79x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.52x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	7.81x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.72x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	8.20x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.97x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	$31.91	$38.36	$35.66	$39.96	$25.40	$24.80	$21.43	$12.32	$12.08	$11.31	$8.74	$8.78	$6.01	$7.08	$5.38	$6.37	$5.57	—
Basic EPS, GAAP (USD)	$-1.41	$3.40	$-1.39	$4.38	$0.40	$3.73	$1.28	$2.39	$3.59	$0.87	$0.58	$0.83	$0.32	$0.42	$0.03	$0.16	$-0.83	—
Free Cash Flow per Share (USD)	$1.87	$6.40	$3.26	$4.27	$0.98	$5.65	$2.78	$2.88	$1.99	$2.32	$1.19	$1.76	$0.63	$1.13	$0.24	$0.34	$0.02	—
Dividend per Share (USD)	$0.32	$0.32	$0.32	$0.32	$0.32	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	—	—	—	—	—
Book Value per Share (USD)	$22.22	$24.03	$21.42	$23.00	$20.07	$19.89	$15.80	$14.47	$11.93	$7.46	$6.28	$3.74	$3.02	$2.52	$2.15	$2.38	$1.93	—
Tangible Book Value per Share (USD)	$-5.02	$-3.78	$-7.30	$-5.95	$-10.19	$3.32	$0.19	$7.01	$4.59	$0.11	$-23.20	$-2.73	$-0.18	$-0.47	$-0.83	$-0.76	$1.93	—
Basic Weighted Avg Shares (shares)	97.00M	95.00M	92.00M	92.00M	95.00M	96.00M	99.00M	88.00M	73.06M	71.85M	68.33M	57.86M	57.63M	57.17M	57.12M	54.32M	48.51M	—
Dividend Payout Ratio (%)	-22.7% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	9.4% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	-23.0% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	7.3% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	80.0% Caution ↑ Caution Improving Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$140.00M	$14.00M	$73.00M	$448.00M	$579.00M	$1.05B	$426.00M	$723.00M	$535.45M	$386.08M	$197.84M	$88.28M	$67.50M	$48.67M	$29.82M	$26.14M	—	—
LT Debt (USD)	$5.70B	$5.50B	$6.20B	$6.50B	$6.80B	$4.00B	$3.70B	$2.55B	$1.80B	$1.80B	$1.20B	$1.20B	$842.90M	$832.90M	$832.23M	$821.88M	—	—
Total Equity (USD)	$2.15B	$2.28B	$1.97B	$2.12B	$1.76B	$1.75B	$1.46B	$1.19B	$992.90M	$492.86M	$429.27M	$216.19M	$174.01M	$143.94M	$122.95M	$129.41M	$93.62M	$117.11M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$3.10B	$3.64B	$3.28B	$3.68B	$2.41B	$2.38B	$2.12B	$1.08B	$882.73M	$812.47M	$597.36M	$508.13M	$346.30M	$404.83M	$307.13M	$346.06M	$270.37M	—
Depreciation Expense (USD)	$133.00M	$144.00M	$145.00M	$129.00M	$104.00M	$96.00M	$80.00M	$54.00M	$51.97M	$45.92M	$36.71M	$30.25M	$24.10M	$23.13M	$26.18M	$30.63M	$32.59M	—
Net Income, GAAP (USD)	$-85.00M	$375.00M	$-76.00M	$455.00M	$90.00M	$410.00M	$179.00M	$211.00M	$261.95M	$62.27M	$39.30M	$48.06M	$18.29M	$28.13M	$9.04M	$23.16M	$-23.05M	—
Operating Cash Flow (USD)	$289.00M	$751.00M	$648.00M	$829.00M	$300.00M	$652.00M	$385.00M	$323.00M	$180.01M	$210.09M	$105.61M	$134.22M	$60.24M	$89.37M	$38.17M	$38.13M	$18.90M	—

GRAY MEDIA, INC

Analytical Summary

18-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

Statement lens

Benchmark Lens

Signals

Percentile Rankings

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