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Gray Television Income Statement 2025-2008 | GTN
Brief overview of profit and loss at Gray Television
This overview is based on financial performance over the past five years. The revenue attributed to Gray Television moved from $2.4 billion to $3.1 billion between the two endpoints. The total change was +30%, with a CAGR of approximately 5.4%. Revenue advanced gradually over the five-year period.
EBITDA changed from $953 million to $629 million (−34%). Changes in revenue did not translate into comparable EBITDA performance. EBITDA margin moved from 40% to 20.3%. The business retained less EBITDA from each unit of revenue.
The final result was 410 million dollars initially and −85 million dollars in the final year. The business lost profitability by the end of the period.
The market value of the business moved from $1.6 billion to $571 million, or −64.6%. Capitalization lags the underlying business improvement.
Overall conclusion
The indicators point to a weaker financial profile. Key strengths include revenue expansion. Caution is warranted because of lower investor confidence, pressure on operating profitability and lower net income. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement Gray Television
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
571 M | 378 M | 562 M | 1.12 B | 1.97 B | 1.61 B | 2.07 B | 1.44 B | 1.24 B | 848 M | 899 M | 547 M | 643 M | 225 M | 114 M | 158 M | 34.4 M | - |
Shares |
97 M | 95 M | 92 M | 92 M | 95 M | 96 M | 99 M | 88.1 M | 73.1 M | 71.8 M | 68.3 M | 57.9 M | 57.6 M | 57.2 M | 57.1 M | 54.3 M | 48.5 M | - |
Historical Prices |
5.89 | 3.98 | 6.11 | 12.1 | 20.8 | 16.8 | 20 | 16.5 | 16.1 | 11.7 | 13 | 9.32 | 11.2 | 3.68 | 2.02 | 2.91 | 0.71 | 3.79 |
Net Income |
-85 M | 375 M | -76 M | 455 M | 90 M | 410 M | 179 M | 211 M | 262 M | 62.3 M | 39.3 M | 48.1 M | 18.3 M | 28.1 M | 9.04 M | 23.2 M | -23 M | - |
Revenue |
3.1 B | 3.64 B | 3.28 B | 3.68 B | 2.41 B | 2.38 B | 2.12 B | 1.08 B | 883 M | 812 M | 597 M | 508 M | 346 M | 405 M | 307 M | - | - | - |
Cost of Revenue |
946 M | 971 M | 940 M | 869 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | - | 619 M | 447 M | 294 M | 297 M | 189 M | 193 M | 109 M | 177 M | 113 M | - | - | - |
Operating Income |
392 M | 851 M | 383 M | 990 M | 381 M | 752 M | 478 M | 389 M | 290 M | 234 M | 140 M | 154 M | 83.9 M | 153 M | 75.3 M | 107 M | 43.1 M | - |
Interest Expense |
-1 M | 117 M | 7 M | -4 M | -8 M | -5 M | 4 M | 6 M | 1 M | 610 K | 103 K | 23 K | - | 2 K | 3 K | 44 K | 54 K | - |
EBITDA |
629 M | 1.12 B | 722 M | 1.33 B | 602 M | 953 M | 619 M | 447 M | 294 M | 297 M | 189 M | 193 M | 109 M | 177 M | 98.8 M | 138 M | 75.7 M | - |
Operating Expenses |
2.7 B | 2.79 B | 2.9 B | 2.69 B | 2.03 B | 1.63 B | 195 M | 74.5 M | 77 M | 62.5 M | 48.7 M | 38.5 M | 24.4 M | 23.2 M | 40.5 M | 239 M | 227 M | - |
General and Administrative Expenses |
- | - | - | - | - | - | - | 40.9 M | - | 40.3 M | 34.3 M | 29.2 M | 19.8 M | 15.9 M | - | 13.5 M | 14.2 M | - |
All numbers in USD currency
Quarterly Income Statement Gray Television
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
98 M | 97 M | 97 M | 97 M | 96 M | 95 M | 95 M | 94 M | 93 M | 93 M | 92 M | - | 91 M | 93 M | 93 M | 87.5 M | 95 M | 95 M | 94 M | 88.1 M | 95 M | 97 M | 98 M | 92.7 M | 100 M | 100 M | 99 M | 82 M | 88 M | 88 M | 89 M | 83.3 M | 71.6 M | 71.8 M | 71.9 M | 66.1 M | 71.9 M | 71.9 M | 71.8 M | - | 71.6 M | 71.6 M | 58.2 M | - | 57.9 M | 57.9 M | 57.8 M | - | 57.7 M | 57.6 M | 57.5 M | - | 57.2 M | 57.2 M | 57.1 M | - | 57.1 M | 57.1 M | - |
Net Income |
14 M | -20 M | -10 M | -56 M | -9 M | 96 M | 22 M | 88 M | -40 M | 4 M | -31 M | - | 108 M | 99 M | 62 M | - | -17 M | 39 M | 39 M | 211 M | 122 M | 11 M | 53 M | 81 M | 59 M | 44 M | -18 M | 88 M | 62 M | 41 M | 20 M | 166 M | 15.3 M | 70.6 M | 10.5 M | 35.8 M | -213 K | 17.7 M | 8.99 M | 15 M | 6.61 M | 12.1 M | 5.6 M | 31.3 M | 13.9 M | 1.59 M | 1.28 M | 5.2 M | 7.07 M | 2.87 M | 870 K | -2.11 M | 15.9 M | 11 M | 3.37 M | 7.58 M | 1.98 M | 2.56 M | -3.08 M |
Revenue |
839 M | 768 M | 749 M | 772 M | 782 M | 950 M | 826 M | 823 M | 803 M | 813 M | 801 M | - | 909 M | 868 M | 827 M | - | 601 M | 547 M | 544 M | 792 M | 604 M | 451 M | 534 M | 579 M | 517 M | 508 M | 518 M | 329 M | 279 M | 250 M | 226 M | 234 M | 219 M | 227 M | 203 M | 238 M | 204 M | 197 M | 174 M | 169 M | 151 M | 143 M | 133 M | 178 M | 132 M | 107 M | 91.3 M | 95.6 M | 88.3 M | 84.3 M | 78.2 M | 127 M | 103 M | 94.7 M | 80.7 M | 84.7 M | 76.5 M | 76.2 M | 69.7 M |
Cost of Revenue |
502 M | 252 M | - | - | 238 M | - | - | 247 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
136 M | 81 M | 102 M | 82 M | 92 M | 250 M | 152 M | 124 M | 84 M | 119 M | 67 M | - | 245 M | 218 M | 164 M | - | 67 M | 108 M | 101 M | 351 M | 212 M | 65 M | 124 M | 180 M | 139 M | 119 M | 40 M | 151 M | 108 M | 80 M | 50 M | 55 M | 49.9 M | 142 M | 43.5 M | 83.9 M | 60.5 M | 53.7 M | 36.1 M | 43.9 M | 29.3 M | 38.8 M | 28.1 M | 72 M | 41.2 M | 23.2 M | 17.4 M | 23.3 M | 24.2 M | 21.3 M | 15.1 M | 58.5 M | 41.1 M | 33 M | 20.8 M | 26.6 M | 18.2 M | 19 M | 11.5 M |
Interest Expense |
- | 8 M | -3 M | - | 1 M | 2 M | 2 M | 110 M | -10 M | -1 M | -2 M | - | -1 M | - | -2 M | - | -1 M | -7 M | 1 M | - | -2 M | -2 M | -1 M | - | - | 1 M | 3 M | - | - | 1 M | 560 K | - | 152 K | 162 K | 93 K | - | 30 K | 141 K | 569 K | - | 28 K | 67 K | 7 K | - | 11 K | 3 K | - | - | - | -1 K | 1 K | - | 2 K | 2 K | 2 K | - | 3 K | 3 K | - |
EBITDA |
256 M | 146 M | 135 M | - | 155 M | 286 M | - | 191 M | - | - | 151 M | - | 497 M | 218 M | 248 M | - | 224 M | 133 M | 152 M | 351 M | 359 M | 159 M | 171 M | 180 M | 285 M | 216 M | 89 M | 151 M | 165 M | 118 M | 69 M | 55 M | 63 M | 155 M | 56.1 M | 83.9 M | 72 M | 65.3 M | 47.2 M | 43.9 M | 38.7 M | 47.5 M | 36.9 M | 72 M | 49.4 M | 30.2 M | 23.8 M | 23.3 M | 30.2 M | 27.2 M | 20.9 M | 58.5 M | 46.8 M | 38.8 M | 26.7 M | 26.6 M | 24.8 M | 25.7 M | 18.5 M |
Operating Expenses |
703 M | 687 M | 647 M | 690 M | 690 M | 700 M | 674 M | 699 M | 719 M | 694 M | 734 M | - | 664 M | 650 M | 663 M | - | 534 M | 439 M | 443 M | - | 392 M | 386 M | 410 M | - | 378 M | 389 M | 478 M | - | 171 M | 170 M | 176 M | - | 169 M | 84.3 M | 160 M | - | 144 M | 143 M | 138 M | - | 122 M | 105 M | 105 M | - | 90.5 M | 84.1 M | 73.9 M | - | 64.1 M | 63 M | 63.1 M | - | 61.8 M | 61.6 M | 59.9 M | - | 58.3 M | 57.2 M | 58.2 M |
General and Administrative Expenses |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 32 M | 25 M | 18 M | - | 15 M | 17 M | 15 M | - | 14 M | 21 M | 48 M | - | 11 M | 11 M | 8 M | - | 8.33 M | 8.43 M | 7.71 M | - | 7.22 M | 8.52 M | 15.7 M | - | 10 M | 6.44 M | 6.85 M | - | 5.27 M | 9.85 M | 6.5 M | - | 4.47 M | 5.29 M | 3.82 M | - | 4.01 M | 3.63 M | 3.11 M | - | 4.09 M | 3.4 M | 3.04 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Gray Television (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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