# Gray Media share price today (Gray Media, Inc., GTN-A)

> Gray Media, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. GTN-A · Communication Services · Broadcasting · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/gtn-a

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: $7.05 (−23.9% in a year)
- P/E: 26.4× (higher than 60% of the last 10 months)
- Revenue (Jun 2026): $839 M (+8.7% on a year ago)
- Profit (Jun 2026): $21.0 M
- Operating margin: 18.6% (+5.1 points on a year ago)
- ROE: −5%, FY25
- ROIC: 5.4%, against a 6.6% cost of capital: −1.2 points

The main question: the share price moved −23.9% in a year while yearly earnings per share moved −142.0%. The difference came from the market paying a higher multiple. ## What is the Gray Media share price today? Gray Media, Inc.'s share price was $7.05 at the close on 3 November 2026. That is 21.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between $5 and $14, and at that close it sat 22% of the way up from that low. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 2 weeks in a row. Over the last 1 year the share price moved −37% while the S&P 500 moved +21%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Gray Media pay? Gray Media, Inc. paid $0.32 per share over the last four reported quarters. The most recent declaration was $0.08 for Jun 2026. At today's price of $7.05 that is a yield of 4.54%, based on dividends already paid, not a forecast. ## Which stock lists is Gray Media on? Gray Media is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Gray Media profitable? Gray Media, Inc. earned $21.0 M of net profit in the Jun 2026 quarter. The full FY25 year was a loss of $137 M. That is 2.5% of the quarter's revenue. The same quarter a year earlier lost $69.0 M. 7 of the last 12 reported quarters were loss-making. For the full year, FY25 profit was −$137 M (−142.4% on the year before). ## How much revenue does Gray Media make, and is it growing? Gray Media, Inc. reported $839 M of revenue in the Jun 2026 quarter, +8.7% on the same quarter a year earlier. Over 4 years it has grown 6.4% a year on average. The last full year, FY25, came in at $3.1 B. The last four reported quarters add to $3.1 B. FY25 revenue was $3.1 B, −15.1% on the year before. Recent pace: the last four quarters grew −9.6% on average, against 6.4% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −11.3%, against −2.6% a year over the last 8 quarters (rolling over). ## How much of every $100 of sales does Gray Media keep? Gray Media, Inc.'s operating margin was 18.6% in the Jun 2026 quarter, 5.1 percentage points higher than the same quarter a year ago. Across 5 years it has been between 13.3% and 26.9%. The latest quarter is within that range. Why the margin moved: operating margin changed +5.1 percentage points on the year while gross margin changed +5.1 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Gray Media's profit turning into cash? Over the last 3 years, 246% of Gray Media, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $289 M of operating cash against −$137 M of profit. After $108 M of spending on assets, $181 M was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Gray Media's cash go? Gray Media, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $599 M on assets over the last 3 years. Averaged over those years that is 6.5% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $599 M over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Gray Media's P/E ratio, and how does it compare with its own history? Gray Media, Inc.'s P/E is 26.4×, in the middle of its own history: higher than 60% of past readings. Its usual P/E (the middle reading) is 24.6×, over 10 months of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −142.0% while the price moved −23.9%. The price did better than earnings, which pushed the multiple up within its own range. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Gray Media business getting better or worse? Gray Media, Inc.'s business is getting worse. Revenue, profit and EPS growth are shrinking: revenue growth is −11.3% in the latest quarter, against +11.1% at its best in 12 quarters, with ROCE steady at 4.6%. This is based on 12 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## How much does Gray Media earn on its capital? Gray Media, Inc. earned a ROE of −5% in FY25. Its return on capital used (ROIC) is 1.2 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −4.4% net margin and 0.30× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −4.4% net margin × 0.30× asset turnover × 3.72× leverage (assets divided by equity) ≈ −4.9% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 5.4% − 6.6% = −1.2 percentage points. The 6.6% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Gray Media have too much debt? Gray Media, Inc. has total debt of $5.9 B against shareholder equity of $2.7 B as of Jun 2026, so its debt is 2.16× its equity. Year by year, that ratio went from 2.84 in FY21 to 2.07 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Gray Media shareholding pattern? 0.0% of Gray Media, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so very few traders are betting against this stock. At normal trading volumes, closing those positions would take about 0.9 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Gray Media from balance-sheet trouble? For Gray Media, Inc., the Z-score is 0.64. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 0.64 is inside the danger zone, so the balance sheet is a real risk. ## How does Gray Media rank in its industry? 50.2 out of 100, rank 4 of 11 in Broadcasting, with 67% of the evidence available. Gray Media, Inc. scores 50.2 out of 100 against the 11 companies it is compared with in Broadcasting, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 16.1 + 13.1 + 11.1 + 9.9 = 50.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Gray Media compared with? Gray Media ranks 4 of 11 Broadcasting companies on the 4-Factor Sector Score, with 50.2 out of 100. 1. [Newsmax Inc.](https://www.sectoralpha.in/us/stocks/nmax) NMAX · quiet · Evidence leans up · 67% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.8/35 · Revenue 10.9% · Profit n/a · Operating margin change 166.9 points · 71% evidence Capital efficiency 4.8/25 · ROCE -10.3% · Operating margin 2.4% · 76% evidence Valuation 11.5/20 · P/E -166.9× · PEG n/a · 15% evidence Relative strength 14.7/20 · Lead over its industry -1.2% · Lead over S&P 500 -4.9% · 1 year -12.2% · 100% evidence · 7 of 12 weeks ahead Exact sum: 24.8 + 4.8 + 11.5 + 14.7 = 55.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Nexstar Media Group, Inc.](https://www.sectoralpha.in/us/stocks/nxst) NXST · basing · Evidence leans up · 85% evidence 55.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.1/35 · Revenue 10.5% · Profit -72.6% · Operating margin change 3.2 points · 95% evidence Capital efficiency 16.9/25 · ROCE 7.2% · Operating margin 21.2% · 76% evidence Valuation 13.9/20 · P/E 32.9× · PEG 0.17 · 65% evidence Relative strength 9.7/20 · Lead over its industry -8.9% · Lead over S&P 500 -12.3% · 1 year -6.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 15.1 + 16.9 + 13.9 + 9.7 = 55.6 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 3. CuriosityStream Inc. CURI · quiet · Evidence leans up · 67% evidence 54.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.1/35 · Revenue 22.9% · Profit n/a · Operating margin change 37 points · 71% evidence Capital efficiency 9.8/25 · ROCE -0.5% · Operating margin 39.5% · 76% evidence Valuation 8.5/20 · P/E 6571× · PEG n/a · 15% evidence Relative strength 10.1/20 · Lead over its industry -20.6% · Lead over S&P 500 -24.3% · 1 year -35.2% · 100% evidence · 4 of 12 weeks ahead Exact sum: 26.1 + 9.8 + 8.5 + 10.1 = 54.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Gray Media, Inc. this page GTN-A · turning · Evidence leans up · 67% evidence 50.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.1/35 · Revenue -11.3% · Profit -139.2% · Operating margin change 5.1 points · 71% evidence Capital efficiency 13.1/25 · ROCE 4.6% · Operating margin 18.6% · 76% evidence Valuation 11.1/20 · P/E -7.1× · PEG n/a · 15% evidence Relative strength 9.9/20 · Lead over its industry -22.9% · Lead over S&P 500 -25.9% · 1 year -20% · 100% evidence · 2 of 12 weeks ahead Exact sum: 16.1 + 13.1 + 11.1 + 9.9 = 50.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Sinclair, Inc.](https://www.sectoralpha.in/us/stocks/sbgi) SBGI · basing · Evidence leans down · 67% evidence 46.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.3/35 · Revenue -6.5% · Profit 4% · Operating margin change 2.7 points · 71% evidence Capital efficiency 11.6/25 · ROCE 4.4% · Operating margin 6.5% · 76% evidence Valuation 9.3/20 · P/E 14.5× · PEG n/a · 15% evidence Relative strength 11.6/20 · Lead over its industry -7.1% · Lead over S&P 500 -10.7% · 1 year -17.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 14.3 + 11.6 + 9.3 + 11.6 = 46.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [iHeartMedia, Inc.](https://www.sectoralpha.in/us/stocks/ihrt) IHRT · basing · Evidence leans down · 67% evidence 39.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 3% · Profit n/a · Operating margin change -0.5 points · 71% evidence Capital efficiency 11.4/25 · ROCE 5.5% · Operating margin 3.6% · 76% evidence Valuation 10.8/20 · P/E -0.3× · PEG n/a · 15% evidence Relative strength 1.3/20 · Lead over its industry -41.7% · Lead over S&P 500 -43.8% · 1 year -54.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.3 + 11.4 + 10.8 + 1.3 = 39.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [FuboTV Inc.](https://www.sectoralpha.in/us/stocks/fubo) FUBO · quiet · Evidence leans down · 67% evidence 38.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.1/35 · Revenue 14.2% · Profit n/a · Operating margin change 1.7 points · 71% evidence Capital efficiency 4.9/25 · ROCE -3.1% · Operating margin -1.8% · 76% evidence Valuation 9.6/20 · P/E 11.5× · PEG n/a · 15% evidence Relative strength 5.4/20 · Lead over its industry -51.8% · Lead over S&P 500 -55.4% · 1 year -83.6% · 100% evidence · 3 of 12 weeks ahead Exact sum: 18.1 + 4.9 + 9.6 + 5.4 = 38 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [The E.W. Scripps Company](https://www.sectoralpha.in/us/stocks/ssp) SSP · quiet · Most evidence points down · 67% evidence 32.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.2/35 · Revenue -14.2% · Profit -1268.3% · Operating margin change -5.7 points · 71% evidence Capital efficiency 9.3/25 · ROCE 3.8% · Operating margin 2.7% · 76% evidence Valuation 10.4/20 · P/E 2.2× · PEG n/a · 15% evidence Relative strength 3.2/20 · Lead over its industry -24.6% · Lead over S&P 500 -27.6% · 1 year 5.1% · 100% evidence · 1 of 12 weeks ahead Exact sum: 9.2 + 9.3 + 10.4 + 3.2 = 32.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. TV Channels Network Inc. TVCN · Too little evidence to rank firmly · 11% evidence 57.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.9/43.75 · Revenue n/a · Profit n/a · Operating margin change n/a · 0% evidence Capital efficiency 22.8/31.25 · ROCE 94.5% · Operating margin n/a · 46% evidence Valuation 12.5/25 · P/E n/a · PEG n/a · 0% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 21.9 + 22.8 + 12.5 = 57.2 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 10. FreeCast, Inc. CAST · Too little evidence to rank firmly · 37% evidence 35.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.0/43.75 · Revenue n/a · Profit n/a · Operating margin change 673.4 points · 52% evidence Capital efficiency 3.9/31.25 · ROCE -521.4% · Operating margin -749.7% · 76% evidence Valuation 12.5/25 · P/E n/a · PEG n/a · 0% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 19 + 3.9 + 12.5 = 35.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 11. Urban One, Inc. UONEK · Too little evidence to rank firmly · 47% evidence 32.8 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Broadcasting](https://www.sectoralpha.in/us/sectors/broadcasting), all 11 compared on one page. ## Which companies are close to Gray Media in size? Gray Media is the 5th largest of 7 Broadcasting companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Nexstar Media Group, Inc., Newsmax Inc., Sinclair, Inc. and FuboTV Inc. Just below it: iHeartMedia, Inc. and The E.W. Scripps Company. ### Broadcasting companies close in size

1. [Nexstar Media Group, Inc.](https://www.sectoralpha.in/us/stocks/nxst) $5.5 billion
2. [Newsmax Inc.](https://www.sectoralpha.in/us/stocks/nmax) $1 billion
3. [Sinclair, Inc.](https://www.sectoralpha.in/us/stocks/sbgi) $974 million
4. [FuboTV Inc.](https://www.sectoralpha.in/us/stocks/fubo) $834 million
5. Gray Media, Inc. $479 million
6. [iHeartMedia, Inc.](https://www.sectoralpha.in/us/stocks/ihrt) $331 million
7. [The E.W. Scripps Company](https://www.sectoralpha.in/us/stocks/ssp) $249 million

[All 7 Broadcasting companies, largest first](https://www.sectoralpha.in/us/sectors/broadcasting#all-companies)

### Companies close in size in other industries

1. [Forward Industries, Inc.](https://www.sectoralpha.in/us/stocks/fwdi) $469 million · Footwear & Accessories
2. [Braskem S.A.](https://www.sectoralpha.in/us/stocks/bak) $466 million · Chemicals
3. Gray Media, Inc. $466 million
4. [El Pollo Loco Holdings, Inc.](https://www.sectoralpha.in/us/stocks/loco) $466 million · Restaurants
5. [Caleres, Inc.](https://www.sectoralpha.in/us/stocks/cal) $465 million · Apparel Retail

## What else do people ask about Gray Media? ### What were Gray Media's latest quarterly results? Gray Media, Inc. reported revenue of $839 M and net profit of $21.0 M for the Jun 2026 quarter. Earnings per share were $0.21. The operating margin was 18.6%, 5.1 percentage points higher than a year earlier (as of 3 November 2026). ### What is Gray Media's market cap? Gray Media, Inc.'s market capitalisation is $479 M at a stock price of $7.05. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Gray Media performing? Gray Media, Inc.'s latest readings are below. Over the past 13 weeks it has done better than the S&P 500, for 2 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Gray Media's stock price go up? This page does not forecast Gray Media, Inc.'s stock price. What it shows instead: the stock price is $7.05. Its P/E of 26.4× is higher than 60% of its own last 1 years. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Is Gray Media's profit real cash? Yes, over the last 3 years, 246% of Gray Media, Inc.'s reported profit came in as cash from operations. The latest year was lower at -211%, so the trend is worth watching. In FY25, operating cash was $289 M against reported profit of −$137 M. Most of that cash then goes into building new capacity. These are yearly figures (as of 3 November 2026). ### Where is Gray Media in its business cycle? Gray Media, Inc.'s FY25 operating margin was 13.3%, against a 5-year range of 13.3% to 26.9%: the low end of its own range, which is often where recoveries start. The latest quarter was 18.6%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Gray Media story? The main question: the share price moved −23.9% in a year while yearly earnings per share moved −142.0%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Gray Media a stock worth studying right now? What the numbers show: Gray Media, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.