Where do Gray Television's ratios come from?

Every ratio is computed from Gray Television's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Gray Television GTN Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	12.4%-10.4pp	12.7%-10.7pp	18%-0.5pp	21.1%+6.8pp	22.7%+9.4pp
Net margin	-3.1%-10.8pp	-2.7%-13.0pp	2.8%-2.9pp	5.6%+3.8pp	7.7%+6.4pp
Returns
Return on equity	-4.4%-17.3pp	-3.8%-21.5pp	4.4%-5.2pp	9.4%+6.5pp	12.9%+10.8pp
Return on invested capital	5%-3.3pp	5.1%-3.0pp	5.6%-0.3pp	6.6%+3.1pp	8.2%+5.3pp
Efficiency
Asset turnover	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×
Liquidity
Current ratio	1.2×+0.3×	1.3×+0.2×	0.9×-0.2×	0.9×-0.8×	0.9×-0.5×
Leverage
Debt-to-equity	2.8×+0.2×	2.7×+0.2×	2.6×-0.2×	2.6×-0.4×	2.5×-0.5×
Net debt / EBITDA	9×+3.9×	8.7×+3.7×	6.5×+0.1×	5.4×-2.5×	5×-3.0×
Per Share
Book value per share	$21.78-7.2%	$22.22-6.6%	$22.25+1.3%	$22.48+5.0%	$23.48+8.8%
Valuation
Market capitalization	$367.8M-15.6%	$494.1M+57.4%	$590.06M+10.5%	$466.21M-9.6%	$440.1M-28.4%
Price / sales	0.1×0.0×	0.2×+0.1×	0.2×0.0×	0.1×0.0×	0.1×-0.1×
Price / book	0.2×0.0×	0.2×+0.1×	0.3×0.0×	0.2×0.0×	0.2×-0.1×
EV / EBITDA	9.6×+4.1×	9.4×+4.2×	7.2×+0.3×	5.9×-2.7×	5.5×-3.4×
Dividend yield	9.2%+1.9pp	6.7%-3.5pp	5.4%-0.6pp	6.9%+0.7pp	7.3%+2.2pp

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Where do Gray Television's ratios come from?: Every ratio is computed from Gray Television's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.