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Gray Television GTN Equity Method Investments

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Segments

By segment

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Broadcasting$18M-56.1%
All Other Segments$13M0.0%
Production Companies$1M-75.0%

Other financials

Income statement

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Revenue$839.0M+8.7%
Operating income$136.0M+65.9%
Net income$14.0M+125%
EPS (diluted)$0.21+130%

Balance sheet

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Cash & equivalents$176.0M-11.6%
Total debt$5.9B+4.0%
Total equity$2.1B-2.4%
Total assets$10.4B+0.8%

Cash flow

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Operating cash flow$123.0M+297%
CapEx$17.0M-32.0%
Free cash flow$106.0M+1,667%

Valuation

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Market cap$512.86M-0.7%
Enterprise value$6.22B+4.1%
P/S0.2×0.0×

Profitability

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Operating margin13.8%-7.3pp
Net margin-0.8%-6.5pp
FCF margin5%-15.0pp

Returns & leverage

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Return on equity-1.2%-10.6pp
Debt / equity2.8×+0.2×
Current ratio+0.1×

Where this comes from

Reported directly by Gray Television in its filing.

Tagged under the XBRL concept us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueAmount.

The source filing: Gray Television’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 12:31 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001437749-26-026498
Line itemJune 30, 2026December 31, 2025
Operating leases right of use asset7666
Broadcast licenses5,4635,309
Goodwill2,6932,642
Other intangible assets, net109157
Investments in broadcasting and technology companies3237
Deferred pension assets2121
Other2943
Total assets$10,437$10,440

Item 1. Financial Statements

FAQ

What is Gray Television's equity method investments?
Gray Television (GTN) reported equity method investments of $32M in Q2 2026.
How has Gray Television's equity method investments changed year-over-year?
Gray Television's equity method investments decreased by 44.8% year-over-year, from $58M to $32M.
What is the long-term trend for Gray Television's equity method investments?
Over 5 years (2020 to 2025), Gray Television's equity method investments has grown at a -12.5% compound annual growth rate (CAGR), from $72M to $37M.
What does equity method investments mean?
Investments in unconsolidated affiliates and joint ventures where the company has significant influence (typically 20-50% ownership), carried at proportional book value.

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