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Gray Television GTN Return on invested capital

Return on invested capital at other companies

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7.8%-1.8pp
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27.8%-8.5pp
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MagniteMGNI
9.2%+4.9pp
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Fox CorporationFOXA
11.1%-1.2pp
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Sphere EntertainmentSPHR
-5.3%-1.6pp
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Alphabet Inc.GOOGL

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.

Based on trailing twelve months.

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 return on invested capital?
Gray Television (GTN) reported return on invested capital of 5% in Q1 2026.
How has Gray Television's return on invested capital changed year-over-year?
Gray Television's return on invested capital decreased by 39.8% year-over-year, from 8.2% to 5%.
What is the long-term trend for Gray Television's return on invested capital?
Over 5 years (2020 to 2025), Gray Television's return on invested capital has grown at a -14.8% compound annual growth rate (CAGR), from 11.3% to 5.1%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.