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%-0.3pp	12.7%-5.3pp	18%-3.2pp	21.1%-1.6pp	22.7%-0.6pp
Net margin	-3.1%-0.4pp	-2.7%-5.6pp	2.8%-2.8pp	5.6%-2.1pp	7.7%-2.6pp
Returns
Return on equity	-4.4%-0.6pp	-3.8%-8.2pp	4.4%-5.1pp	9.4%-3.5pp	12.9%-4.7pp
Return on invested capital	5%-0.1pp	5.1%-0.5pp	5.6%-1.1pp	6.6%-1.6pp	8.2%+0.1pp
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×-0.1×	1.3×+0.3×	0.9×+0.1×	0.9×0.0×	0.9×-0.1×
Leverage
Debt-to-equity	2.8×+0.1×	2.7×+0.1×	2.6×0.0×	2.6×+0.1×	2.5×0.0×
Net debt / EBITDA	9×+0.3×	8.7×+2.2×	6.5×+1.1×	5.4×+0.4×	5×+0.1×
Per Share
Book value per share	$21.78-1.9%	$22.22-0.1%	$22.25-1.1%	$22.48-4.2%	$23.48-1.3%
Valuation
Market capitalization	$367.8M-15.6%	$494.1M-16.3%	$590.06M+26.6%	$466.21M+5.9%	$440.1M+40.2%
Price / sales	0.1×0.0×	0.2×0.0×	0.2×0.0×	0.1×0.0×	0.1×0.0×
Price / book	0.2×0.0×	0.2×0.0×	0.3×+0.1×	0.2×0.0×	0.2×+0.1×
EV / EBITDA	9.6×+4.1×	9.4×+2.3×	7.2×+1.3×	5.9×+0.4×	5.5×+0.2×
Dividend yield	9.2%+1.9pp	6.7%+1.3pp	5.4%-1.4pp	6.9%-0.4pp	7.3%-2.9pp

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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.