Stocks Industrials GTN
NYSE · IndustrialsGray Media, Inc (GTN)
Gray Media, Inc brought in $3.4B of revenue over the twelve months to September 30, 2026, up 0.7% from a year earlier. Net income was $62M, a net margin of 1.8%. Operating cash flow minus capital spending left $181M of free cash flow in fiscal 2025. At September 30, 2026 it held $154M in cash against $5.8B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 6, 2026.
Key facts about Gray Media, Inc
- Net worth
- Gray Media, Inc has a market value (market cap) of $599.4M at the latest share price, and shareholders' equity of $2.2B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $3.1B (-15.1% year on year), with a net loss of $85M. Over the 12 months to September 30, 2026: revenue $3.4B, net income $62M.
- Cash flow
- In fiscal 2025 operations brought in $289M of cash; after $108M of capital spending, free cash flow was $181M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 6, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Gray Media, Inc's next report is expected around February 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Gray Media, Inc declared dividends of $0.32 per share in fiscal 2025, a yield of 5.50% at the current price.
What Gray Media, Inc does
Gray Media, Inc is registered with the SEC under industry code SIC 4833 (Television Broadcasting Stations). Its shares trade on NYSE under the ticker GTN.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $3.1B | -$85M | -$1.41 | $181M |
| 2024 | $3.6B | $375M | $3.36 | $608M |
| 2023 | $3.3B | -$76M | -$1.39 | $300M |
| 2022 | $3.7B | $455M | $4.33 | $393M |
| 2021 | $2.4B | $90M | $0.40 | $93M |
| 2020 | $2.4B | $410M | $3.69 | $542M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where GTN ranks in Industrials
Dividends
Gray Media, Inc declared $0.32 per share in fiscal 2025. At the current price that is a yield of 5.50%. It paid out $33M in cash dividends.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $0.32 | $33M | n/a |
| 2024 | $0.32 | $32M | 9% |
| 2023 | $0.32 | $30M | n/a |
| 2022 | $0.32 | $30M | 7% |
| 2021 | $0.32 | $31M | 34% |
| 2020 | $0.00 | $0 | 0% |
Latest SEC filings
What Gray Media, Inc has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 30% to $972M versus the same quarter last year; diluted EPS $0.66 versus -$0.24.
- November 6, 2026
- November 6, 2026Other event 8-K
- November 6, 2026
- October 9, 2026Material agreement8-KGray Media expanded its Term Loan G by $75 million to help redeem $150 million of its 10.500% senior secured notes due 2029.
- October 9, 2026Material agreement8-KGray Media closed a new 600 million dollar term loan and extended its revolving credit facility maturity to 2030.
- September 28, 2026Quarterly results8-KGray Media raised its third quarter 2026 political advertising guidance and increased the low end of its total revenue outlook.
- August 21, 2026
- August 18, 2026Other event 8-K
- August 17, 2026Other event 8-K
What is GTN worth? A DCF from its reported cash flow
Insider trades
What the people running Gray Media, Inc did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| May 19, 2026 | Boger Richard LeeDirector | Sold | 55,000 | $230.5K |
| May 19, 2026 | Boger Richard LeeDirector | Sold | 2,000 | $20.2K |
| May 6, 2026 | Howell Hilton H JrChairman, President & CEO, Director | Received as payindirect | 30,741 | - |
| May 6, 2026 | Boger Richard LeeDirector | Received as pay | 30,741 | - |
| May 6, 2026 | Newton HowellDirector | Received as pay | 30,741 | - |
| May 6, 2026 | Hare Richard BDirector | Received as pay | 30,741 | - |
| May 6, 2026 | McTear PaulDirector | Received as pay | 30,741 | - |
| May 6, 2026 | Howell Robin RobinsonDirector | Received as pay | 30,741 | - |
Who owns GTN
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Miller Value Partners, LLC13G, passive with 1 related filers | 8.07% | August 7, 2026 |
| The Capital Management Corporation13G, passive | 7.6% | July 6, 2026 |
| Dimensional Fund Advisors LP13G, passive | 5.3% | July 15, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 175 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Miller Value Partners, LLC | 7,243,390 | +1,873,290 |
| Capital Management Corp | 7,070,669 | +873,151 |
| BlackRock, Inc. | 6,999,842 | +100,703 |
| Dimensional Fund Advisors LP | 4,662,924 | -614,969 |
| Retirement Systems of Alabama | 4,126,750 | 0 |
| Vanguard Capital Management LLC | 3,735,165 | +32,931 |
| Penn Capital Management Company, LLC | 3,503,974 | -112,236 |
| Goldman Sachs Group Inc | 3,292,829 | +471,923 |
| Charles Schwab Investment Management Inc | 3,052,792 | -1,242,356 |
| Geode Capital Management, LLC | 2,182,601 | +92,044 |
| New York State Common Retirement Fund | 2,115,710 | 0 |
| State Street Corp | 1,814,306 | -5,560 |
| Vanguard Portfolio Management LLC | 1,478,136 | +163,453 |
| Russell Investments Group, Ltd. | 1,274,036 | -114,399 |
| Aqr Capital Management LLC | 1,259,636 | -194,505 |
| Bank of New York Mellon Corp | 1,159,554 | -9,437 |
| Allianz Asset Management GmbH | 1,149,952 | +280,654 |
| Morgan Stanley | 1,051,548 | -53,396 |
| Schonfeld Strategic Advisors LLC | 1,000,000 | -250,000 |
| DSC Meridian Capital LP | 939,714 | 0 |
Insiders
13 insiders reported holding 12,705,487 shares in total, about $73.9M at the last price.
| Holder | Shares |
|---|---|
| Howell Hilton H JrChairman, President & CEO, Director | 4,180,524171,595 held indirectly |
| Howell Robin RobinsonDirector | 4,180,5244,008,929 held indirectly |
| LaPlatney D PatrickPresident and Co-CEO, Director | 1,452,065 |
| Gignac Jeffrey RExecutive Vice President, CFO | 770,457 |
| McNamara Sandra BrelandExecutive Vice President, COO | 676,820 |
| Latek Kevin PaulEVP Chief L & D Officer | 606,677 |
| McTear PaulDirector | 161,990 |
| Newton HowellDirector | 145,265 |
| Garcia Luis A.Director | 130,647 |
| McClain LorriDirector | 126,638 |
Questions about GTN
What does Gray Media, Inc do?
Gray Media, Inc is a company in the Industrials sector, listed on NYSE as GTN. Its shares trade on NYSE under the ticker GTN.
What is Gray Media, Inc's net worth?
Gray Media, Inc has a market value (market cap) of $599.4M at the latest share price, and shareholders' equity of $2.2B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Gray Media, Inc profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $62M on revenue of $3.4B, a net margin of 1.8%.
How much revenue does Gray Media, Inc make?
Over the twelve months to September 30, 2026 Gray Media, Inc reported revenue of $3.4B. That is 0.7% more than a year earlier.
When did Gray Media, Inc last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 6, 2026. It covers the period to September 30, 2026.
When is Gray Media, Inc's next earnings report?
Gray Media, Inc's next report is expected around February 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Gray Media, Inc pay a dividend?
Yes. Gray Media, Inc declared dividends of $0.32 per share in fiscal 2025, a yield of 5.50% at the current price.
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Where the numbers come from
Financial figures are the values Gray Media, Inc tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.