Gray Media vs Sinclair
Gray Media and Sinclair are similar in size: $3.10bn and $3.17bn of revenue in their latest fiscal years. Sinclair grew faster (-10.7% against -15.1%). Gray Media kept more of each dollar of sales as profit: a net margin of -2.7% against -3.5%. Gray Media carries less debt relative to equity (269.6% against 1001.8%).
| Latest fiscal year | Gray MediaGTN, 2025 | SinclairSBGI, 2025 |
|---|---|---|
| Revenue | $3.10bn | $3.17bn |
| Revenue growth | -15.1% | -10.7% |
| Net income | −$85.0m | −$112m |
| Operating margin | 12.7% | 5.5% |
| Net margin | -2.7% | -3.5% |
| Return on equity | -3.8% | -21.8% |
| Free cash flow | $181m | $115m |
| Cash | $368m | $866m |
| Total debt | $5.81bn | $4.44bn |
| Debt to equity | 269.6% | 1001.8% |
| Dividend per share | $0.32 | — |
| Dividend yield | 7.3% | 7.6% |
| Share buybacks | — | $0 |
| Employees | — | 7,100 |
| Market value | $470m | $965m |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 58 (Moderate) | — |
| Insider trades, 12 months | 0 buys, 2 sales | 0 buys, 21 sales |