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Gray Television GTN Broadcasting — Operating Income

Other segment segments

All Other Segments
-$40M-25.0%
Production Companies
-$4M-300%

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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:OperatingIncomeLoss.

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 broadcasting — operating income?
Gray Television (GTN) reported broadcasting — operating income of $125M in Q1 2026.
How has Gray Television's broadcasting — operating income changed year-over-year?
Gray Television's broadcasting — operating income increased by 2.5% year-over-year, from $122M to $125M.
What is the long-term trend for Gray Television's broadcasting — operating income?
Over 4 years (2021 to 2025), Gray Television's broadcasting — operating income has grown at a -1.5% compound annual growth rate (CAGR), from $545M to $513M.
What does broadcasting — operating income mean?
Measures the profitability of the broadcasting segment by subtracting operating expenses from segment revenue. This is the primary indicator of the segment's operational health and its ability to generate profit from core broadcasting activities. It allows investors to evaluate the segment's performance independent of corporate-level financing or tax structures.