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
EBITDA margin	20.1%-10.0pp	20.3%-10.4pp	25.3%-1.5pp	28.3%+4.9pp	30.1%+7.0pp
Free cash flow margin	1.9%-17.6pp	6.2%-10.8pp	13.5%+4.4pp	19.9%+17.3pp	19.5%—
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 assets	-0.9%-3.6pp	-0.8%-4.4pp	0.9%-1.0pp	1.9%+1.3pp	2.6%+2.2pp
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×
Quick ratio	1.2×+0.3×	1.3×+0.2×	0.9×-0.2×	0.9×-0.8×	0.9×-0.5×
Cash ratio	0.6×+0.2×	0.7×+0.5×	0.4×+0.2×	0.4×+0.1×	0.4×+0.1×
Leverage
Debt-to-equity	2.8×+0.2×	2.7×+0.2×	2.6×-0.2×	2.6×-0.4×	2.5×-0.5×
Debt-to-assets	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.5×0.0×	0.5×0.0×
Net debt / EBITDA	9×+3.9×	8.7×+3.7×	6.5×+0.1×	5.4×-2.5×	5×-3.0×
Interest coverage	0.8×-0.9×	0.8×-0.9×	1.3×-0.1×	1.5×+0.5×	1.7×+0.7×
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%
Enterprise value	$5.92B+0.2%	$5.94B+1.1%	$6.09B-5.3%	$5.93B-10.9%	$5.91B-11.9%
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×
EV / sales	1.9×+0.3×	1.9×+0.3×	1.8×0.0×	1.7×-0.3×	1.6×-0.4×
Free cash flow yield	15.5%-146pp	38.9%-158pp	76.4%+17.7pp	151.9%+135pp	159.5%—
Earnings yield	-26.1%-89.9pp	-17.2%-137pp	15.9%-20.9pp	42.9%+31.1pp	63.2%+56.2pp
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.