FY2025 · ended Dec 31, 2025 · Revenue $3.10B, -15.1% YoY · Filed Feb 26, 2026
Gray Media, Inc. (GTN) files with the SEC under industry code 4833, Television Broadcasting Stations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $3.1 billion and a net loss of $85.0 million. Free cash flow was $181.0 million. As of Jun 30, 2026 it held $176.0 million in cash and investments and $5.9 billion in total debt.
Revenue (TTM)
$3.15B
-11.3% vs year-ago TTM
Net income (TTM)
$-26.00M
-113.0% vs year-ago TTM
Operating cash flow (TTM)
$250.00M
-69.8% vs year-ago TTM
Free cash flow (TTM)
$146.00M
-79.4% vs year-ago TTM
EPS (TTM)
$-0.59
-138.6% vs year-ago TTM
Dividend per share (TTM)
$0.32
+0.0% vs year-ago TTM
Shares outstanding
87.54M
-0.7% vs prior year
Net cash
$-5.71B
as of Jun 30, 2026
Operating margin
13.8%
FY 2026
Company profile
- Industry
- Television Broadcasting Stations (SIC 4833)
- Listed as
- GTN (NYSE), GTN-A (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- GA
- Headquarters
- Atlanta, GA
- SEC filer status
- Accelerated filer
- SEC CIK
- 43196
- Former names
- GRAY MEDIA, INC (until Oct 9, 2026); GRAY TELEVISION INC (until Feb 24, 2025); GRAY COMMUNICATIONS SYSTEMS INC /GA/ (until Jul 25, 2002)
Other Television Broadcasting Stations companies
- Skydance Corp SKYD
- Fox Corp FOXA
- Liberty Media Corp FWONA
- Nexstar Media Group, Inc. NXST
- Versant Media Group, Inc. VSNT
- Grupo Televisa, S.a.b. TV
- Newsmax Inc. NMAX
- Sinclair, Inc. SBGI
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $3.1B | $3.6B | $3.3B | $3.7B | $2.4B |
| Operating income | $392.0M | $851.0M | $383.0M | $990.0M | $381.0M |
| Net income | -$85.0M | $375.0M | -$76.0M | $455.0M | $90.0M |
| Diluted EPS | -$1.41 | $3.36 | -$1.39 | $4.33 | $0.40 |
| Operating cash flow | $289.0M | $751.0M | $648.0M | $829.0M | $300.0M |
| Free cash flow | $181.0M | $608.0M | $300.0M | $393.0M | $93.0M |
| Total assets | $10.4B | $10.5B | $10.6B | $11.2B | $11.1B |
| Total liabilities | $7.6B | $7.6B | $8.0B | $8.4B | $8.7B |
| Stockholders' equity | $2.2B | $2.3B | $2.0B | $2.1B | $1.8B |
| Cash and investments | $368.0M | $135.0M | $21.0M | $61.0M | $189.0M |
| Total debt | $5.8B | $5.7B | $6.3B | $6.6B | $6.9B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Material agreement, New debt, Other events
|
Oct 9, 2026 | Oct 9, 2026 |
| 8-K |
Current report
Material agreement, New debt, Other events
|
Oct 9, 2026 | Oct 8, 2026 |
| 8-K |
Current report
Results of operations
|
Sep 28, 2026 | Sep 28, 2026 |
| 8-K |
Current report
Material agreement, New debt, Other events
|
Aug 21, 2026 | Aug 21, 2026 |
| 8-K |
Current report
Other events
|
Aug 18, 2026 | Aug 17, 2026 |
| 8-K |
Current report
Other events
|
Aug 17, 2026 | Aug 17, 2026 |
All 1011 Gray Media, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.