GRAY MEDIA, INC
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $3.1B | $3.6B | $3.3B | $3.7B | $2.4B |
| Operating expenses | $2.7B | $2.8B | $2.9B | $2.7B | $2.0B |
| Operating income | $392.0M | $851.0M | $383.0M | $990.0M | $381.0M |
| Pretax income | -$113.0M | $492.0M | -$82.0M | $614.0M | $168.0M |
| Income tax expense | -$28.0M | $117.0M | -$6.0M | $159.0M | $78.0M |
| Net income | -$85.0M | $375.0M | -$76.0M | $455.0M | $90.0M |
| Balance Sheet | |||||
| Cash and equivalents | $368.0M | $135.0M | $21.0M | $61.0M | $189.0M |
| Current assets | $656.0M | $541.0M | $468.0M | $857.0M | $963.0M |
| Total assets | $10.4B | $10.5B | $10.6B | $11.2B | $11.1B |
| Current liabilities | $516.0M | $527.0M | $395.0M | $409.0M | $384.0M |
| Total liabilities | $7.6B | $7.6B | $8.0B | $8.4B | $8.7B |
| Total debt | $5.8B | $5.7B | $6.2B | $6.5B | $6.8B |
| Stockholders' equity | $2.2B | $2.3B | $2.0B | $2.1B | $1.8B |
| Cash Flow Statement | |||||
| Cash from operations | $289.0M | $751.0M | $648.0M | $829.0M | $300.0M |
| Depreciation and amortization | $133.0M | $144.0M | $145.0M | $129.0M | $104.0M |
| Stock-based compensation | $22.0M | $22.0M | $20.0M | $22.0M | $14.0M |
| Capital expenditure | $108.0M | $143.0M | $348.0M | $436.0M | $207.0M |
| Free cash flow | $181.0M | $608.0M | $300.0M | $393.0M | $93.0M |
| Dividends paid | $33.0M | $32.0M | $30.0M | $30.0M | $31.0M |
| Share repurchases | — | $0 | $0 | $50.0M | $30.0M |
| Impairments | $0 | $0 | $16.0M | — | $0 |
Shares outstanding 102.7M · Free float 89.7%
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.