Intrinsiqq
Gray Television, Inc. logoGray Television, Inc.GTN
$4.62-0.22%
Gray Television, Inc. logo

Gray Television, Inc.

GTN

$4.62

-$0.01 (-0.22%)

⊜ Compare
ProfitabilitySolid marginsGrowthDecliningCash FlowThin conversionValuationN/A
What stands out

12.67% operating margin is respectable but not wide. ROIC at 3.88%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.

What's changing

Revenue declined 15.1% YoY. Margins deteriorated 10.7pp alongside, both lines moving the wrong way.

What deserves caution

Free cash flow declined 70% versus the prior year, cash generation momentum has weakened. ROIC dropped from 9.07% to 3.88%, capital efficiency is deteriorating.

Price History

-5.5%

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap$462M
EPS-$0.60
P/E-7.70
P/FCF3.16
EV/EBITDA9.89
FCF Yield31.6%
Div. Yield7.36%
Net Debt/FCF39.1x
52-Week Range
$3.58$6.20

Profitability & Returns

Revenue (TTM)

$3.15B

▼ -15.1% YoY

Net Income (TTM)

-$26M

▼ -122.7% YoY

Op. Margin

12.67%

▼ -10.7pp YoY

ROIC

3.88%

▼ -5.2pp YoY

Cash Flow & Balance Sheet

FCF (TTM)

$146M

▼ -70.2% YoY

Op. Cash Flow (TTM)

$250M

▼ -61.5% YoY

Net Debt

$5.71B

Cash & Equiv.

$176M

5Y CAGR: +5.4%

5Y CAGR: -19.7%

Continue Research

SourceComputed from the 10-Q filed 7 Aug 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 3 Oct 2026. How this is calculated.

Price from market data, last close as of 21 Oct 2026. Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.

Is Gray Television (GTN) overvalued?

Gray Television (GTN) trades above a two-stage DCF intrinsic value of about $-17.56 per share, so at $4.62 the stock looks overvalued (480.1% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.

On quality, Gray Television scores 15/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 7.4%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.

Frequently asked

What is Gray Television's fair value?+

Intrinsiqq's two-stage DCF estimates an intrinsic value of about $-17.56 per share for GTN, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $-13.17. At today's $4.62, that puts the stock about 480.1% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.

Is Gray Television a high-quality business?+

Gray Television scores 15 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 12.7% operating margin and a 3.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.

Does Gray Television (GTN) pay a dividend, and how much?+

Yes, Gray Television pays a regular dividend of about $0.34 per share per year (typically in quarterly installments), a yield of roughly 7.4% at the current price. Gray Television has grown the dividend at roughly 1.6% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For GTN's full payout history, growth streak and dividend-safety score, see the dividends tab.

Is Gray Television a good stock to buy right now?+

That depends on valuation and quality together, not either alone. GTN currently trades above its estimated intrinsic value and scores 15/100 on quality (lower-quality). It also yields about 7.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.

Related stocks: Television Broadcasting Stations

Spot a number that looks wrong? Check it in GTN's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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Not financial advice. Analytical data for research only.

Intrinsiqq is a Netherlands-based company operating in Rotterdam, KvK 73238007.