Also trades as: GTN-A (NYSE) · $vol 0M
GTN NYSE
Gray Media, Inc.
1W: -6.9%
1M: -6.1%
3M: +1.4%
YTD: -10.2%
1Y: -9.4%
3Y: -22.3%
5Y: -77.0%
$4.30
-0.07 (-1.60%)
After Hours: $4.38 (+0.08, +1.74%)
Weekly Expected Move ±5.4%
$4
$4
$5
$5
$5
Credit Risk of going bust: higher than 90% of companies Debt: 92.9% of company value Bonds: $508.2M held by 415 funds, 486 bp over Treasuries → details ▾
Of US companies ranked in the second-riskiest tenth, about 1 in 87 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.70 (down 60%), Gray Media, Inc. would be worth roughly what it owes.
Total debt $5.89B against a stock market value of $450.0M.
Distance to default 1.59 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $2.92B (short-term plus half of long-term), stock volatility 61.8%; Altman Z'' 0.84. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.70 (down 60%), Gray Media, Inc. would be worth roughly what it owes.
Total debt $5.89B against a stock market value of $450.0M.
Distance to default 1.59 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $2.92B (short-term plus half of long-term), stock volatility 61.8%; Altman Z'' 0.84. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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By Product / Service
Revenue by Segment (5-Year Trend)
Income Trends
Revenue
$3.1B
-15.1% ▼
5Y CAGR: +5.4%
Gross Profit
$3.0B
+140.4% ▲
5Y CAGR: +24.8%
Operating Income
$392M
-53.9% ▼
5Y CAGR: -12.2%
Net Income
-$85M
-122.7% ▼
EPS (Diluted)
$-0.88
-126.2% ▼
EBITDA
$598M
-52.0% ▼
5Y CAGR: -8.6%
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $2.4B | $3.7B | $3.3B | $3.6B | $3.1B |
| YoY Growth | +1.3% | +52.3% | -10.7% | +11.1% | -15.1% |
| Cost of Revenue | $1.6B | $2.2B | $2.4B | $2.4B | $104M |
| Gross Profit | $803M | $1.4B | $898M | $1.2B | $3.0B |
| Gross Margin | 33.3% | 38.8% | 27.4% | 34.1% | 96.6% |
| R&D Expenses | $0 | $0 | $0 | $0 | $0 |
| SG&A Expenses | $88M | $102M | $112M | $104M | $0 |
| Operating Expenses | $422M | $438M | $515M | $393M | $2.6B |
| Operating Income | $381M | $990M | $383M | $851M | $392M |
| Operating Margin | 15.8% | 26.9% | 11.7% | 23.4% | 12.7% |
| Interest Expense | $205M | $354M | $440M | $485M | $474M |
| Income Before Tax | $168M | $614M | -$82M | $492M | -$113M |
| Tax Expense | $78M | $159M | -$6M | $117M | -$28M |
| Net Income | $90M | $455M | -$76M | $375M | -$85M |
| Net Margin | 3.7% | 12.4% | -2.3% | 10.3% | -2.7% |
| EPS (Diluted) | $0.40 | $4.33 | $-1.39 | $3.36 | $-0.88 |
| EBITDA | $594M | $1.3B | $697M | $1.2B | $598M |
| Shares Outstanding | 95M | 93M | 92M | 96M | 97M |