Gray Media, Inc income statement
In fiscal 2025, Gray Media, Inc reported revenue of $3.10bn, down 15.1% on the year before, operating income of $392m (a 12.7% margin) and net income of −$85.0m, or −$1.41 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 270 | 346 | 307 | 405 | 346 | 508 | 597 | 812 | 883 | 1,084 | 2,122 | 2,381 | 2,413 | 3,676 | 3,281 | 3,644 | 3,095 | 3,148 |
| General and administrative | 14 | 14 | 14 | 16 | 20 | 29 | 34 | 40 | 32 | 41 | 104 | 65 | 159 | — | — | — | — | — |
| Operating income | 43 | 107 | 75 | 153 | 84 | 154 | 140 | 234 | 290 | 389 | 478 | 752 | 381 | 990 | 383 | 851 | 392 | 435 |
| Interest expense | 69 | 70 | 62 | 59 | 52 | 69 | 74 | 97 | 95 | 107 | 227 | 191 | 205 | 354 | 440 | 485 | 474 | 473 |
| Income before tax | −34 | 37 | 14 | 47 | 31 | 80 | 66 | 106 | 193 | 288 | 255 | 544 | 168 | 614 | −82 | 492 | −113 | −63 |
| Income tax | −11 | 13 | 5 | 19 | 13 | 32 | 26 | 43 | −69 | 77 | 76 | 134 | 78 | 159 | −6 | 117 | −28 | −37 |
| Net income | −23 | 23 | 9 | 28 | 18 | 48 | 39 | 62 | 262 | 211 | 179 | 410 | 90 | 455 | −76 | 375 | −85 | −26 |
| Diluted EPS | −$0.83 | $0.16 | $0.03 | $0.42 | $0.32 | $0.82 | $0.57 | $0.86 | $3.55 | $2.37 | $1.27 | $3.69 | $0.40 | $4.33 | −$1.39 | $3.36 | −$1.41 | −$0.27 |
| Diluted shares (average) | 49m | 54m | 57m | 57m | 58m | 58m | 69m | 73m | 74m | 89m | 100m | 97m | 95m | 93m | 92m | 96m | 97m | 98m |
| EBITDA | 76 | 138 | 102 | 177 | 108 | 184 | 177 | 280 | 342 | 464 | 673 | 953 | 602 | 1,326 | 722 | 1,120 | 629 | 625 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 950 | 1,045 | 782 | 772 | 749 | 792 | 768 | 839 |
| Operating income | 250 | 325 | 92 | 82 | 102 | 116 | 81 | 136 |
| Interest expense | 130 | 122 | 118 | 117 | 120 | 119 | 117 | 117 |
| Income before tax | 128 | 216 | −24 | −35 | −28 | −26 | −28 | 19 |
| Income tax | 32 | 47 | −15 | 21 | −18 | −16 | −8 | 5 |
| Net income | 96 | 169 | −9 | −56 | −10 | −10 | −20 | 14 |
| Diluted EPS | $0.86 | $1.62 | −$0.23 | −$0.71 | −$0.24 | −$0.22 | −$0.34 | $0.21 |
| EBITDA | 286 | 392 | 155 | 114 | 135 | 174 | 146 | 170 |
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