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Gray Television GTN Advertising — Revenue

Other product segments

Core Advertising
$352M+2.3%
Retransmission Consent
$339M-10.6%
Political Advertising
$30M+131%
Service Other
$18M-5.3%

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$22.8M-5.4%

Other financials

Income statement

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Revenue$768.0M-1.8%
Operating income$81.0M-12.0%
Net income-$20.0M-122%
EPS (diluted)-$0.34-47.8%

Balance sheet

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Cash & equivalents$259.0M+23.3%
Total debt$5.8B+2.3%
Total equity$2.1B-6.3%
Total assets$10.3B-1.1%

Cash flow

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Operating cash flow$1.0M-99.2%
CapEx$19.0M+26.7%
Free cash flow-$18.0M-115%

Valuation

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Market cap$367.8M-15.6%
Enterprise value$5.92B+0.2%
P/S0.1×0.0×

Profitability

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Operating margin12.4%-10.4pp
Net margin-3.1%-10.8pp
FCF margin1.9%-17.6pp

Returns & leverage

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Return on equity-4.4%-17.3pp
Debt / equity2.8×+0.2×
Current ratio1.2×+0.3×

Where this comes from

Reported directly by Gray Television in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Gray Television’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Gray Television's advertising — revenue?
Gray Television (GTN) reported advertising — revenue of $382M in Q1 2026.
How has Gray Television's advertising — revenue changed year-over-year?
Gray Television's advertising — revenue increased by 7.0% year-over-year, from $357M to $382M.
What is the long-term trend for Gray Television's advertising — revenue?
Over 4 years (2021 to 2025), Gray Television's advertising — revenue has grown at a 4.9% compound annual growth rate (CAGR), from $1.23B to $1.49B.
What does advertising — revenue mean?
This metric represents the total gross revenue generated from the sale of advertising airtime and digital inventory within the company's broadcasting segment, excluding any pass-through taxes. It serves as a primary indicator of the company's ability to monetize its local television station viewership and digital platforms through commercial partnerships. Tracking this figure helps investors assess the cyclical health of the local advertising market and the effectiveness of the company's sales strategy.