Gray Media vs Iheartmedia
Iheartmedia is the larger business, with $3.86bn of revenue in fiscal 2025 against $3.10bn for Gray Media (1.2 times as much). Iheartmedia grew faster (0.3% against -15.1%). Gray Media kept more of each dollar of sales as profit: a net margin of -2.7% against -12.2%.
| Latest fiscal year | Gray MediaGTN, 2025 | IheartmediaIHRT, 2025 |
|---|---|---|
| Revenue | $3.10bn | $3.86bn |
| Revenue growth | -15.1% | 0.3% |
| Net income | −$85.0m | −$473m |
| Operating margin | 12.7% | -0.5% |
| Net margin | -2.7% | -12.2% |
| Return on equity | -3.8% | — |
| Free cash flow | $181m | $10.9m |
| Cash | $368m | $271m |
| Total debt | $5.81bn | $5.05bn |
| Debt to equity | 269.6% | — |
| Dividend per share | $0.32 | — |
| Dividend yield | 7.3% | — |
| Share buybacks | — | — |
| Employees | — | 9,550 |
| Market value | $470m | $330m |
| Price vs our value range | Below our value range | — |
| Moat score | 58 (Moderate) | 24 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 2 buys, 0 sales |