What is Gray Television's net debt?

Gray Television (GTN) reported net debt of $5.55B in Q1 2026.

How has Gray Television's net debt changed year-over-year?

Gray Television's net debt increased by 1.5% year-over-year, from $5.47B to $5.55B.

What is the long-term trend for Gray Television's net debt?

Over 5 years (2020 to 2025), Gray Television's net debt has grown at a 10.8% compound annual growth rate (CAGR), from $3.26B to $5.45B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Gray Television GTN Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Helen Of TroyHELE

4.8×+2.6×

CorMedixCRMD

-0.9×—

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.

$5.8Btotal debt−$259.0Mcash and equivalents=$5.55B

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 net debt?: Gray Television (GTN) reported net debt of $5.55B in Q1 2026.
How has Gray Television's net debt changed year-over-year?: Gray Television's net debt increased by 1.5% year-over-year, from $5.47B to $5.55B.
What is the long-term trend for Gray Television's net debt?: Over 5 years (2020 to 2025), Gray Television's net debt has grown at a 10.8% compound annual growth rate (CAGR), from $3.26B to $5.45B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.