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Gray Television GTN Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

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18.8%+0.1pp
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BeldenBDC
12.2%+0.5pp
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Cabot CorporationCBT
14.7%-6.0pp
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UnifirstUNF
6.2%-0.9pp
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Envista Holdings CorporationNVST
3.4%+1.8pp
Liberty Broadband Corporation logo
Liberty Broadband CorporationLBRDK
-0.3%-0.1pp

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

Calculated from Gray Television’s reported figures.

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 invested capital?
Gray Television (GTN) reported invested capital of $7.67B in Q1 2026.
How has Gray Television's invested capital changed year-over-year?
Gray Television's invested capital decreased by 0.8% year-over-year, from $7.73B to $7.67B.
What is the long-term trend for Gray Television's invested capital?
Over 5 years (2020 to 2025), Gray Television's invested capital has grown at a 8.7% compound annual growth rate (CAGR), from $5.01B to $7.6B.
What does invested capital mean?
Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).