NYSE:GTN
Gray Media, Inc.
Gray Media, Inc.'s revenue fell 15.1% in fiscal 2025 to $3.1B while operating margin fell to 12.7%. Free cash flow was $181.0M, 5.8% of revenue, and the diluted share count rose 1.0%.Summary generated from Gray Media, Inc.'s SEC filings. Latest annual report filed Feb 26, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$3.1B
Revenue growth−15.1%
Revenue, 5-yr CAGR+5.4%
Gross marginn/a
Operating margin12.7%
Net margin−2.7%
ROIC4.1%
Return on equity−3.8%
Debt / equity2.65
Free cash flow$181.0M
FCF margin5.8%
Share count change+1.0%
Financials
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 2,413 | 3,676 | 3,281 | 3,644 | 3,095 |
| Operating income | 381 | 990 | 383 | 851 | 392 |
| Net income | 90 | 455 | −76 | 375 | −85 |
| Free cash flow | 93 | 393 | 300 | 608 | 181 |
Recent filings
- 8-KEntry into a material agreement
Oct 9, 2026 - 8-KEntry into a material agreement
Oct 9, 2026 - 8-KResults of operations and financial condition
Sep 28, 2026 - 8-KEntry into a material agreement
Aug 21, 2026 - 8-KOther events
Aug 18, 2026 - 8-KOther events
Aug 17, 2026 - 10-QQuarterly report for the period ended Jun 30, 2026
Aug 7, 2026 - 8-KRegulation FD disclosure
Aug 7, 2026