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NEW York Times Co (NYT) stock

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NYSE: NYT NYSE Publishing Next results ~November 4, 2026

B+ Fundamentals grade

NEW York Times Co is a US-listed company in the publishing industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$71

Cash-flow model

Base case. Range ~$55–$93 across our lower- and higher-growth cases (4.4%–14.4% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 2% below our base value.

Price used: $69.96, November 2, 2026

NEW York Times Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 7 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds304 adding, 301 cuttingOf 63 active managers that changed their stake, 38 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter NEW York Times files

Where NEW York Times Co stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.98bn, up 10.8% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 20.9% from 16.9% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 1 of our 1 financial-health checks. Our cash-flow model value is $68.55 a share, against a share price of $69.47. At that price, our model says the market is pricing in about 9.6% a year of cash-flow growth for five years, faster than the 7.5% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

NEW York Times Co's trailing-twelve-month revenue grew 10.8% year on year, with a free-cash-flow margin of 20.9%. Where it stands out: operating margin of 16.0% ranks 1 of 7 publishing companies we cover. Where it lags: stock pay as % of revenue of 2.6% ranks 8 of 8 publishing companies we cover.

Our discounted-cash-flow model values the business at ~$71 per share in the base case (~$55–$93 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 10.8% (+0.4pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 20.9% of revenue turned into free cash flow, against a median of 2.8% for publishing companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Gross margin slipping. Gross margin is down 8.6 points on a year ago.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.6% ranks 8 of 8 publishing companies we cover (median 0.6%).
  • Heavily shorted. 11.9% of the shares available to trade are sold short (5.7 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.69 against an average estimate of $0.67: beat by 3.6%
Revenue
$762m, up 11.2% on a year earlier
Share reaction
-14.3% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
digital-only subscription revenues growth 12% to 15% (third quarter of 2026); total subscription revenues growth 9% to 11% (third quarter of 2026)
Next report
November 4, 2026; average EPS estimate $0.65

NEW York Times' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.3%
  • 1 week-1.0%
  • 1 month+12.0%
  • This year+2.0%
  • 1 year+24.2%
  • 5 years+46.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3B
Operating margin
16.0%
Net margin
13.2%
EPS (TTM, diluted)
$2.39

Growth

Revenue growth
+10.8%
Change in growth rate
+0.4 pts
Share count change
−0.6%

Cash

Free cash flow (TTM)
$623M
FCF margin
20.9%
Stock pay % of revenue
2.6%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Leadership
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

NEW York Times Co valuation models and calculator

What the price is pricing in

The share price implies about 8.4% a year of cash-flow growth for five years.That is close to the 7.5% a year revenue growth NEW York Times has delivered.

  • Priced in8.4%
  • Last 12 months10.8%
  • 3 years a year8.0%
  • 5 years a year7.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($68.98, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$71
Price used
$68.98close November 3, 2026
Implied change
▲ +4%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of NEW York Times Co's free cash flow after stock-based pay with after-tax interest added back ($443M, FY2026 Q2 TTM), growing 8.6% and 8.7% in the next two years (forecasts, guidance and its record), then back to 9.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$55–~$93 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of NEW York Times Co's free cash flow after stock-based pay ( $443M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value NEW York Times Co as an operating company, with every model that fits that kind of business. Cost of equity 8%: the 10-year Treasury yield (4.9%) plus a beta of 0.67 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$71 ~$55–$93 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$29 ~$20–$42 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$31 ~$26–$39 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$51 ~$29–$71 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare NEW York Times Co with Publishing in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +22%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $43$57$76$100$132$174
8.5% $34$44$58$75$98$127
10% $29$36$47$60$77$100

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$12.38$12.42$17.07$20.81$29.97$48.32$44.83$31.01$47.31$50.78$68.59$69.96
Market value$2.1bn$2.0bn$2.8bn$3.5bn$5.0bn$8.1bn$7.6bn$5.2bn$7.8bn$8.4bn$11.3bn$11.5bn
+ Net debt (− = net cash)$333m$149m$67m$266m$16m−$286m−$320m−$221m−$289m−$199m−$255m−$233m
Enterprise value$2.4bn$2.2bn$2.9bn$3.7bn$5.0bn$7.8bn$7.2bn$5.0bn$7.5bn$8.2bn$11.1bn$11.3bn
Multiples
Price / sales 1.3x1.3x1.7x2.0x2.8x4.6x3.6x2.2x3.2x3.3x4.0x3.9x
Price / earnings 32.6x69.6xn/m27.6x35.9x81.1x34.3x29.8x33.7x28.7x32.9x29.3x
Price / free cash flow 13.5x27.4xn/m43.6x34.8x30.8x32.2x45.6x23.2x22.1x20.6x18.5x
EV / EBITDA 12.1x12.5x12.0x15.0x21.3x32.9x22.2x17.4x20.8x18.9x21.4x20.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

52 /100

Moderate moat

How hard NEW York Times's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Net income has been a median 7.0% of total assets over 10 years.

  • Durability 12 / 20

    Operating margin has been a median 11.0%; its worst year was 7.4%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 9 of 10 years, at a median 10.4% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 2.3% over five years; stock-based pay has been a median 1.1% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (67 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $767m and EPS of $0.65 (range $0.57 to $0.67) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.85 +16% $3.1bn +10%
Next $3.13 +10% $3.3bn +7%

Next year's EPS estimate has moved −2.9% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.8% on 90 days ago. In the last 30 days, 2 analysts raised NEW York Times Co's forecast and 1 cut it.

Consensus EPS forecast NEW York Times Co, last 90 days
$2.80 $2.90 $3.00 $3.10 $3.20 $3.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.88 Current fiscal year, 60 days ago: $2.90 Current fiscal year, 30 days ago: $2.86 Current fiscal year, 7 days ago: $2.86 Current fiscal year, Now: $2.85 $2.85 Next fiscal year, 90 days ago: $3.22 Next fiscal year, 60 days ago: $3.14 Next fiscal year, 30 days ago: $3.12 Next fiscal year, 7 days ago: $3.14 Next fiscal year, Now: $3.13 $3.13

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.88$3.22
60 days ago $2.90$3.14
30 days ago $2.86$3.12
7 days ago $2.86$3.14
Now $2.85$3.13

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.67 $0.69 +3.6%
Mar 2026 $0.47 $0.61 +30.2%
Dec 2025 $0.88 $0.89 +1.1%
Sept 2025 $0.53 $0.59 +10.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Depreciation and amortization 2026 about $85m
    “Depreciation and amortization: approximately $85 million, which includes approximately $25-$30 million of acquired intangible assets amortization,” source
  • Acquired intangible assets amortization 2026 $25m to $30m
    “Depreciation and amortization: approximately $85 million, which includes approximately $25-$30 million of acquired intangible assets amortization,” source
  • Interest income and other, net 2026 $45m to $50m
    “Interest income and other, net: approximately $45-$50 million, and” source
  • Capital expenditures 2026 $35m to $45m
    “Capital expenditures: approximately $35-$45 million.” source
  • Lower cash tax payments fiscal year ending December 31, 2026 about $60m
    “The Company expects lower cash tax payments of approximately $60 million in total for the fiscal year ending December 31, 2026, and does not expect the majority of this cash flow benefit to recur beyond fiscal 2026.” source
  • Digital-only subscription revenues third quarter of 2026 12% growth to 15% growth
    “Digital-only subscription revenues increase 12 - 15%” source
Show 2 more items
  • Total subscription revenues third quarter of 2026 9% growth to 11% growth
    “Total subscription revenues increase 9 - 11%” source
  • Adjusted operating costs third quarter of 2026 8% growth to 9% growth Non-GAAP
    “Adjusted operating costs increase 8 - 9%” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows NEW York Times Co's revenue by +8.6% next year and +8.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.2%, weight 67%) and the company's own record (+9.4%, weight 33%) . How the weights are set.

Analyst recommendations

10 analysts, Oct 2026
Buy770%
Hold330%
Sell00%

Monthly trend

  1. Oct 202616310
  2. Sep 202616310
  3. Aug 202615410
  4. Jul 202615410

Counts of recommendations published by analysts covering NEW York Times Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.9%
of tradable shares
Days to cover
5.69
at average volume
Short interest, 1 month
+38%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
11.3%
of shares
Employees
6,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +24.2%

$56.31 on October 31, 2025 to $69.96

ThenNowEffect
Revenue (last 12 months) $2.7bn $3.0bn +10.8%
Net margin 11.9% 13.2% +10.7%
P/E multiple 29.1x 29.3x +0.7%
Share count 165m 164m +0.6%

Biggest factor: revenue.

Last 3 years +72.4%

$40.57 on November 3, 2023 to $69.96

ThenNowEffect
Revenue (last 12 months) $2.4bn $3.0bn +25.8%
Net margin 7.4% 13.2% +77.1%
P/E multiple 38.2x 29.3x −23.3%
Share count 166m 164m +0.9%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NYT−6%−32%+53%+7%+35%+2%
Industry peers (median)+27%−38%+5%+42%−9%+20%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NYT50%42%75%50%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NYT−29%−42%−14%−16%−19%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 50% from January 26, 2021 to June 30, 2022. Getting back needed a 100% gain, reached on July 22, 2024, 753 days after the low.

Price behaviour

52-week range
$56.38 – $85.28
From 52-week high
−18.0%
vs 50-day average
+4.1%
vs 200-day average
−4.1%
Volatility (1 year)
31%
Beta vs S&P 500
0.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±6.1%
After a week
6 up, 6 down
typical move ±6.8%
After a month
7 up, 5 down
typical move ±8.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −14.3% −0.4% −15.4% −11.3%
May 6, 2026 +3.8% +1.1% −0.3% −0.5%
February 4, 2026 −4.3% −1.7% −1.1% +11.4%
November 5, 2025 +3.9% −0.7% +9.5% +12.1%
August 6, 2025 +8.5% +0.7% +13.1% +10.0%
May 7, 2025 −0.1% +1.1% +4.5% +6.0%
February 5, 2025 −12.0% +0.8% −9.8% −11.9%
November 4, 2024 −6.3% +1.0% −3.4% −3.9%
August 7, 2024 +3.0% +1.6% +4.7% +1.6%
May 8, 2024 +3.8% +0.6% +3.7% +8.7%
February 7, 2024 −9.9% +0.9% −8.9% −10.8%
November 8, 2023 +3.6% −0.7% +6.6% +12.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How NEW York Times Co’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.51× the last 60 days’ realised volatility .
  • Puts are priced 3 points richer than calls (25-delta): the market is paying up for downside protection, which favours selling puts over calls.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

NYT NEW York Times Co Grade B+ $67.91

Sell the $65.00 put expiring December 18, 2026 (45 days) for $2.70 a share — $270 per contract.

Bid $2.70, ask $3.10, quoted Tue 3 Nov, 14:42 New York time with NYT at $67.91. Option prices move with the shares: check the live chain at your broker before trading.

  • If NYT ends above $65.00: you keep the $270 — 4.2% on the $6,500 set aside, or 33.7% a year at that pace.
  • If it ends below $65.00: you buy 100 shares at an effective $62.30, 8% below today's price and 12% below our value of ~$71.
$270 $0 −$1.2k Break-even $62.30 Price $67.91 Our value $71.00
Profit or loss per contract at expiry, by share price.
Premium
$270
Annualised
33.7%
Break-even
$62.30
Max gain
$270
Chance of buying
~36%

Results are expected around November 4, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

NEW York Times Co in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) NEW York Times Co
$2.4B $2.6B $2.8B $3B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.4B Revenue (TTM), FY23 Q4: $2.4B Revenue (TTM), FY24 Q1: $2.5B Revenue (TTM), FY24 Q2: $2.5B Revenue (TTM), FY24 Q3: $2.5B Revenue (TTM), FY24 Q4: $2.6B Revenue (TTM), FY25 Q1: $2.6B Revenue (TTM), FY25 Q2: $2.7B Revenue (TTM), FY25 Q3: $2.7B Revenue (TTM), FY25 Q4: $2.8B Revenue (TTM), FY26 Q1: $2.9B Revenue (TTM), FY26 Q2: $3B $3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.4B
FY23 Q4 $2.4B
FY24 Q1 $2.5B
FY24 Q2 $2.5B
FY24 Q3 $2.5B
FY24 Q4 $2.6B
FY25 Q1 $2.6B
FY25 Q2 $2.7B
FY25 Q3 $2.7B
FY25 Q4 $2.8B
FY26 Q1 $2.9B
FY26 Q2 $3B
Revenue growth, TTM YoY NEW York Times Co
4% 6% 8% 10% 12% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 8.2% Revenue growth, TTM YoY, FY23 Q4: 5.1% Revenue growth, TTM YoY, FY24 Q1: 5.5% Revenue growth, TTM YoY, FY24 Q2: 5.4% Revenue growth, TTM YoY, FY24 Q3: 4.9% Revenue growth, TTM YoY, FY24 Q4: 6.6% Revenue growth, TTM YoY, FY25 Q1: 6.8% Revenue growth, TTM YoY, FY25 Q2: 7.8% Revenue growth, TTM YoY, FY25 Q3: 8.4% Revenue growth, TTM YoY, FY25 Q4: 9.2% Revenue growth, TTM YoY, FY26 Q1: 10.4% Revenue growth, TTM YoY, FY26 Q2: 10.8% 10.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 8.2%
FY23 Q4 5.1%
FY24 Q1 5.5%
FY24 Q2 5.4%
FY24 Q3 4.9%
FY24 Q4 6.6%
FY25 Q1 6.8%
FY25 Q2 7.8%
FY25 Q3 8.4%
FY25 Q4 9.2%
FY26 Q1 10.4%
FY26 Q2 10.8%
Operating margin (TTM) NEW York Times Co
8% 10% 12% 14% 16% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 9.9% Operating margin (TTM), FY23 Q4: 11.4% Operating margin (TTM), FY24 Q1: 12.1% Operating margin (TTM), FY24 Q2: 12.8% Operating margin (TTM), FY24 Q3: 13.2% Operating margin (TTM), FY24 Q4: 13.6% Operating margin (TTM), FY25 Q1: 13.8% Operating margin (TTM), FY25 Q2: 14.5% Operating margin (TTM), FY25 Q3: 15.2% Operating margin (TTM), FY25 Q4: 15.3% Operating margin (TTM), FY26 Q1: 16.0% Operating margin (TTM), FY26 Q2: 16.0% 16.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 9.9%
FY23 Q4 11.4%
FY24 Q1 12.1%
FY24 Q2 12.8%
FY24 Q3 13.2%
FY24 Q4 13.6%
FY25 Q1 13.8%
FY25 Q2 14.5%
FY25 Q3 15.2%
FY25 Q4 15.3%
FY26 Q1 16.0%
FY26 Q2 16.0%
FCF margin (TTM) NEW York Times Co
10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 10.9% FCF margin (TTM), FY23 Q4: 13.9% FCF margin (TTM), FY24 Q1: 13.8% FCF margin (TTM), FY24 Q2: 14.0% FCF margin (TTM), FY24 Q3: 14.5% FCF margin (TTM), FY24 Q4: 14.7% FCF margin (TTM), FY25 Q1: 16.2% FCF margin (TTM), FY25 Q2: 16.9% FCF margin (TTM), FY25 Q3: 19.5% FCF margin (TTM), FY25 Q4: 19.5% FCF margin (TTM), FY26 Q1: 18.7% FCF margin (TTM), FY26 Q2: 20.9% 20.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 10.9%
FY23 Q4 13.9%
FY24 Q1 13.8%
FY24 Q2 14.0%
FY24 Q3 14.5%
FY24 Q4 14.7%
FY25 Q1 16.2%
FY25 Q2 16.9%
FY25 Q3 19.5%
FY25 Q4 19.5%
FY26 Q1 18.7%
FY26 Q2 20.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar NEW York Times took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $2.8B
  2. Other income $19.7M · 0.7%
  3. Research and development $264M · 9.4%
  4. Selling, general and admin $635M · 22.5%
  5. Other operating costs $1.5B · 52.9%
  6. Operating income $432M · 15.3%
  7. Income tax $107M · 3.8%
  8. Net income $344M · 12.2%

Shares of revenue. Source: NEW York Times's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 2,440 1,981 1,555 1,595 1,577 1,589 1,579 1,555 1,676 1,749 1,812 1,784 2,075 2,308 2,426 2,586 2,825 2,978
Gross profit — — — — — — — — 1,059 1,749 1,812 — — — — — — —
EBITDA 208 266 243 207 242 171 198 174 238 249 236 238 326 285 362 434 517 559
Operating income 74 145 127 104 156 92 137 113 177 190 176 176 268 202 276 351 432 475
Net income 20 108 −38 136 65 33 63 29 4 126 140 100 220 174 232 294 344 393
Diluted EPS $0.14 $0.71 −$0.25 $0.89 $0.41 $0.20 $0.38 $0.18 $0.03 $0.75 $0.83 $0.60 $1.31 $1.04 $1.40 $1.77 $2.09 $2.39
Growth (year on year)
Revenue −17.0% −18.8% −21.5% +2.6% −1.1% +0.7% −0.6% −1.5% +7.7% +4.4% +3.6% −1.6% +16.3% +11.3% +5.1% +6.6% +9.2% +10.8%
EBITDA +101.4% +28.1% −8.7% −14.7% +16.5% −29.0% +15.6% −12.0% +36.7% +4.5% −5.2% +0.9% +36.6% −12.6% +27.3% +19.8% +19.0% +18.2%
Operating income — +96.2% −12.8% −18.2% +50.6% −41.1% +48.5% −17.5% +56.7% +7.7% −7.7% +0.4% +52.1% −24.6% +36.8% +27.1% +22.9% +22.3%
Net income — — −135.0% — −52.1% −48.8% +89.9% −54.0% — — +11.4% −28.5% +119.7% −20.9% +33.6% +26.4% +17.1% +22.6%
Diluted EPS — — −135.2% — −53.9% −51.2% +90.0% −52.6% — — +10.7% −27.7% +118.3% −20.6% +34.6% +26.4% +18.1% +23.4%
Margins
Gross margin — — — — — — — — 63.2% 100.0% 100.0% — — — — — — —
EBITDA margin 8.5% 13.4% 15.6% 13.0% 15.3% 10.8% 12.5% 11.2% 14.2% 14.3% 13.0% 13.4% 15.7% 12.3% 14.9% 16.8% 18.3% 18.8%
Operating margin 3.0% 7.3% 8.2% 6.5% 9.9% 5.8% 8.6% 7.2% 10.5% 10.9% 9.7% 9.9% 12.9% 8.7% 11.4% 13.6% 15.3% 16.0%
Net margin 0.8% 5.4% −2.4% 8.5% 4.1% 2.1% 4.0% 1.9% 0.3% 7.2% 7.7% 5.6% 10.6% 7.5% 9.6% 11.4% 12.2% 13.2%
Free-cash-flow margin 8.0% 6.0% 1.9% 2.8% 1.1% 2.8% 9.6% 4.7% 0.1% 4.6% 8.0% 14.8% 11.3% 4.9% 13.9% 14.7% 19.5% 20.9%
Cash flow
Cash from operations 247 153 74 79 35 80 179 104 87 157 190 298 269 151 361 411 584 658
Capital spending 51 34 45 35 17 35 27 30 85 77 45 34 35 37 23 29 34 35
Free cash flow 196 120 29 44 18 45 152 74 2 80 144 263 234 114 338 381 551 623
Stock-based pay 11 7 8 5 9 9 11 12 15 13 13 14 22 35 55 67 74 78
Free cash flow after stock pay 185 113 21 40 9 36 142 61 −13 67 132 249 212 78 283 314 476 545
Balance sheet
Cash 37 370 175 820 483 177 106 101 183 242 230 286 320 221 289 199 255 233
Total debt 769 996 800 719 702 663 439 250 250 507 246 0 0 0 0 0 0 0
Net debt (negative = net cash) 733 627 625 −101 219 486 333 149 67 266 16 −286 −320 −221 −289 −199 −255 −233
Diluted shares 146m 153m 152m 153m 158m 161m 166m 163m 164m 167m 168m 168m 169m 167m 166m 166m 165m 164m
Returned to shareholders
Dividends — — 0 0 6 25 27 26 26 26 32 38 45 57 69 83 110 126
Buybacks 0 0 0 — 0 0 69 16 0 0 — 0 0 105 45 85 165 175
Total returned 0 0 0 0 6 25 96 42 26 26 32 38 45 162 114 168 276 301

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 1 checks passed · June 30, 2026
What it owns · $3.0bn
Short-term assets $1.0bnLonger-term assets $2.0bn
What it owes, and who funded it · $2.7bn
Short-term liabilities $648mShareholders' equity $2.0bn
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $648m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From NEW York Times Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$175M
Dividends (TTM)
$126M
Returned to shareholders
48%
of free cash flow
Buybacks, last 3 fiscal years
$295M
Diluted share count
−0.6%
year over year
Total shareholder yield
2.6%
dividends 1.1% + buybacks 1.5% of market value
Dividend payout ratio
32%
of net income paid out
R&D spending
9.2%
of revenue
Days sales outstanding
29 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in publishing
Last 12 months unless stated NYT TDAY WLY SCHL NWSA LEE Median
Revenue, last 12 months $3.0bn $2.2bn $1.7bn $1.6bn $9.0bn $517m $1.6bn
Revenue growth, last 12 months 10.8% −6.7% −0.3% −2.5% 6.8% −11.1% −2.5%
Revenue growth, 3-year average 8.0% −7.2% −5.6% −2.0% 4.1% −10.5% −3.8%
Revenue growth, latest quarter 11.2% −8.3% −2.6% −3.9% 10.8% −10.8% −3.3%
Gross margin 73.4% 39.5% 74.6% 56.5% — — 58.3%
Operating margin 16.0% 0.7% 14.9% 1.0% — 4.0% 4.0%
Operating margin, 3-year average 14.4% 0.3% 11.2% 1.1% — 2.0% 6.0%
Net margin 13.2% −1.8% 11.9% 3.6% 6.3% −1.8% 3.6%
Cash from operations / revenue 22.1% 5.1% 17.4% 2.4% 13.7% −0.0% 5.1%
Free-cash-flow margin 20.9% 2.8% 14.4% −0.9% 9.0% −0.1% 2.8%
Free-cash-flow margin, 3-year average 17.3% 2.2% 10.1% 2.4% 8.2% −0.8% 7.9%
Stock pay / revenue 2.6% 0.4% 1.2% 0.6% 0.5% 0.2% 0.5%
Change in share count −0.6% 19.8% −4.2% −15.7% −2.0% 99.6% 0.1%

Median of all 9 companies we cover in publishing. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

9 publishing companies
Measure Company Peer median Rank
Revenue growth Growth 10.8% -2.5% 2 of 9
Change in growth rate Growth +0.4pp +0.1pp 3 of 9
Operating margin Profitability 16.0% 4.0% 1 of 7
Net margin Profitability 13.2% 3.6% 1 of 9
Free-cash-flow margin Cash generation 20.9% 2.8% 1 of 9
Stock pay as % of revenue Cash generation 2.6% 0.6% 8 of 8
Change in share count Balance sheet -0.6% 0.0% 4 of 8
Days sales outstanding Balance sheet 29 days 43 days 2 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Subscription $2B 69.1% ▲ 9.1%
Advertising $566M 20.0% ▲ 11.8%
Affiliate Licensing and Other Products and Services $308M 10.9% ▲ 5.7%

From NEW York Times Co's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$11.7B
Institutions reporting
628
Shares held vs prior quarter
▲ 2.2%
Positions opened / closed
75 / 75

Top buyers and sellers, Q2 2026: 304 institutions bought and 301 sold ; the biggest buyer was Invesco Ltd (+1.3M shares) and the biggest seller T. Rowe Price Investment Management, Inc (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.1B 15.7M 9.4% ▲ 4.0%
Berkshire Hathaway Inc $1.1B 15.7M 9.4% ▲ 3.7%
AQR Capital Management LLC $634M 9.1M 5.4% ▲ 10.6%
Linonia Partnership LP $632M 9.0M 5.4% 0.0%
T. Rowe Price Investment Management, Inc. $564M 8.1M 4.8% ▼ 14.0%
Vanguard Portfolio Management LLC $513M 7.3M 4.4% ▼ 4.5%
Vanguard Capital Management LLC $454M 6.5M 3.9% ▼ 7.1%
State Street Corp $352M 5.0M 3.0% ▼ 1.6%
Darsana Capital Partners LP $350M 5.0M 3.0% ▼ 0.8%
Geode Capital Management, LLC $341M 4.9M 2.9% ▲ 13.8%
Wellington Management Group LLP $214M 3.1M 1.8% ▼ 27.4%
Baillie Gifford & Co $192M 2.7M 1.6% ▼ 5.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not NEW York Times Co's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $9.8M 10 trades by 7 insiders · 0% under pre-set plans
Net ▼ $9.8M net selling
Insider Date Trade Shares Price Value
Welch Jacqueline M EVP and CHRO June 3, 2026 Sell 4,000 $74.14 $296,560
Bardeen William EVP, Chief Financial Officer May 12, 2026 Sell 4,121 $77.85 $320,820
Kopit Levien Meredith A. PRESIDENT & CEO May 12, 2026 Sell 9,750 $78.00 $760,500
Perpich David S. Director May 11, 2026 Sell 9,000 $77.06 $693,540
Kopit Levien Meredith A. PRESIDENT & CEO March 3, 2026 Sell 51,949 $79.70 $4.1M
Bardeen William EVP, Chief Financial Officer March 3, 2026 Sell 13,000 $79.56 $1M
Sulzberger Arthur G. Chairman and Publisher March 3, 2026 Sell 13,000 $79.95 $1M
Brayton Diane EVP, CHIEF LEGAL OFFICER February 20, 2026 Sell 4,600 $77.03 $354,338
Benten R Anthony SVP, Treasurer & CAO February 17, 2026 Sell 1,913 $73.57 $140,739
Kopit Levien Meredith A. PRESIDENT & CEO November 6, 2025 Sell 16,972 $59.68 $1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

No trades in NEW York Times Co disclosed in the last 12 months; 4 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded August 4, 2025, filed September 12, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded July 22, 2025, filed August 13, 2025
  • Sara Jacobs(D-CA 53):Sale (full), $50,001 - $100,000, traded April 9, 2021, filed May 28, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 4, 2026
  • November 5, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on NEW York Times Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

NEW York Times Co in brief

What does NEW York Times Co do?
NEW York Times Co is a US-listed company in the publishing industry. Its financial year ends in December.
What is NEW York Times Co's stock ticker?
NEW York Times Co trades under the ticker NYT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is NEW York Times Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, NEW York Times Co reported revenue of $3B, 10.8% higher than a year earlier, according to its SEC filings.
What is NEW York Times Co's free cash flow?
NEW York Times Co's free-cash-flow margin is 20.9% of revenue over the trailing twelve months, ranking 1 of the 9 publishing companies we cover.
What is NEW York Times Co's fair value (intrinsic value) per share?
Our discounted-cash-flow model of NEW York Times Co's free cash flow after stock-based pay gives ~$71 per share in the base case, and ~$55–$93 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are NEW York Times Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Berkshire Hathaway Inc and AQR Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is NEW York Times Co buying back stock, and does it pay a dividend?
NEW York Times Co spent $175M on share repurchases over the trailing twelve months, and its diluted share count fell 0.6% over the year.
What is NEW York Times Co's market cap?
On November 2, 2026, NEW York Times Co's market capitalisation was about $11.5B, with a price-to-earnings ratio of 29.3 and net debt of -$233M. Market figures come from third-party market data and may be delayed.
Does NEW York Times Co pay a dividend?
Yes: NEW York Times Co paid $126M in dividends over the trailing twelve months, a dividend yield of 1.11% and a payout ratio of 32.1%.
Who are NEW York Times Co's competitors?
In our Publishing peer group, the companies closest to NEW York Times Co are USA Today Co., Inc., John Wiley & Sons, Inc., Scholastic Corp, News Corp (Class A) and LEE Enterprises, Inc. The side-by-side comparison below sets their revenue, margins and growth against NEW York Times Co's.
Are insiders buying or selling NEW York Times Co stock?
Over the last 12 months, NEW York Times Co's directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is NEW York Times Co's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — NEW York Times Co announces its own schedule.