Gray Media, Inc.

GTNNYSECommunication Services● Active

$4.01

$-0.02(-0.50%)

Market Cap$411981245

P/E Ratio—

52W High$6.44

52W Low$3.5

Avg Volume1.3M

Open$4.03

Beta0.97

Free Cash Flow Financials Revenue

Gray Media, Inc. (GTN) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

GTN · free cash flow · updated Jun 8, 2026

Core FCF metrics

GTN · FCF · TTM · margin & CAGR

Free cash flow was $181.0M for FY2025 (fiscal year ending 2025-12-31), down 70.2% year-over-year The FCF margin was 5.8%. Five-year CAGR stands at -19.7%.

FY2025 Free Cash Flow$181.0M▼ -70.2% YoY

Trailing 12M (TTM)$46.0Mtrailing 4 quarters sum

FCF Margin5.8%$181.0M ÷ revenue

3-Year CAGR-22.8%FY2022 → FY2025

5-Year CAGR-19.7%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

GTN · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$289.0M(108M)$181.0M▼ 70.2%5.8%

FY2024$751.0M(143M)$608.0M▲ +102.7%16.7%

FY2023$648.0M(348M)$300.0M▼ 23.7%9.1%

FY2022$829.0M(436M)$393.0M▲ +322.6%10.7%

FY2021$300.0M(207M)$93.0M▼ 82.8%3.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

GTN · P/FCF · FCF yield · FCF per share

Gray Media, Inc. (GTN) trades at a FCF yield of 11.17% and a price-to-free-cash-flow ratio of 8.5x. FCF per share stands at $0.47, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

11.17%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.47

TTM FCF ÷ Shares Outstanding

Price / FCF

x8.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x129.7

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

GTN · cash flow statement · operating / investing / financing

For FY2025, Gray Media, Inc. generated $289.0M in operating cash flow and spent 108M in capital expenditures, yielding $181.0M in free cash flow.

Operating Activities

+$289.0M

Cash from core business operations

2025-12-31

Investing Activities

−$63.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$7.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($289.0M) − |CapEx| (108M) = FCF ($181.0M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

GTN vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Gray Media, Inc.YOU

GTN

$181.0M-70.2%5.8%

About Free Cash Flow & Methodology

Gray Media, Inc. (GTN) reported free cash flow of $181.0M for FY2025 (fiscal year ending 2025-12-31), down 70.2% year-over-year. The FCF margin was 5.8%.

Based on available data, Gray Media, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $608.0M in FY2024. The 5-year CAGR stands at -19.7%.

Gray Media, Inc.'s FCF yield is 11.17% and price-to-FCF ratio is 8.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

GTN free cash flow · 8 questions

Gray Media, Inc. free cash flow was $181.0M for FY2025, down 70.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $46.0M.

GTN free cash flowGTN FCFGTN FCF 2025GTN free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Gray Media, Inc. · Gray Media, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026