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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash to Debt 0.07
GTN's Cash to Debt is ranked lower than
89% of the 432 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.64 vs. GTN: 0.07 )
Ranked among companies with meaningful Cash to Debt only.
GTN' s Cash to Debt Range Over the Past 10 Years
Min: 0  Med: 0.02 Max: 0.18
Current: 0.07
0
0.18
Equity to Asset 0.17
GTN's Equity to Asset is ranked lower than
87% of the 411 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 0.55 vs. GTN: 0.17 )
Ranked among companies with meaningful Equity to Asset only.
GTN' s Equity to Asset Range Over the Past 10 Years
Min: 0.07  Med: 0.23 Max: 0.32
Current: 0.17
0.07
0.32
Interest Coverage 1.92
GTN's Interest Coverage is ranked lower than
88% of the 310 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 14.55 vs. GTN: 1.92 )
Ranked among companies with meaningful Interest Coverage only.
GTN' s Interest Coverage Range Over the Past 10 Years
Min: 0.62  Med: 1.53 Max: 2.58
Current: 1.92
0.62
2.58
F-Score: 3
Z-Score: 0.68
M-Score: -2.22
WACC vs ROIC
11.02%
5.58%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry
vs
history
Operating margin (%) 23.22
GTN's Operating margin (%) is ranked higher than
84% of the 423 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 7.49 vs. GTN: 23.22 )
Ranked among companies with meaningful Operating margin (%) only.
GTN' s Operating margin (%) Range Over the Past 10 Years
Min: -79.13  Med: 24.38 Max: 37.9
Current: 23.22
-79.13
37.9
Net-margin (%) 6.69
GTN's Net-margin (%) is ranked higher than
59% of the 423 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 4.18 vs. GTN: 6.69 )
Ranked among companies with meaningful Net-margin (%) only.
GTN' s Net-margin (%) Range Over the Past 10 Years
Min: -61.75  Med: 4.41 Max: 9.46
Current: 6.69
-61.75
9.46
ROE (%) 10.25
GTN's ROE (%) is ranked higher than
64% of the 405 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 4.66 vs. GTN: 10.25 )
Ranked among companies with meaningful ROE (%) only.
GTN' s ROE (%) Range Over the Past 10 Years
Min: -91.71  Med: 4.97 Max: 24.63
Current: 10.25
-91.71
24.63
ROA (%) 1.96
GTN's ROA (%) is ranked higher than
50% of the 436 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.96 vs. GTN: 1.96 )
Ranked among companies with meaningful ROA (%) only.
GTN' s ROA (%) Range Over the Past 10 Years
Min: -13.91  Med: 1.08 Max: 3
Current: 1.96
-13.91
3
ROC (Joel Greenblatt) (%) 46.02
GTN's ROC (Joel Greenblatt) (%) is ranked higher than
72% of the 429 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 17.75 vs. GTN: 46.02 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
GTN' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: -149.01  Med: 45.66 Max: 67.81
Current: 46.02
-149.01
67.81
Revenue Growth (3Y)(%) 7.00
GTN's Revenue Growth (3Y)(%) is ranked higher than
72% of the 356 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 0.20 vs. GTN: 7.00 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
GTN' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: -19.1  Med: -1.20 Max: 17.4
Current: 7
-19.1
17.4
EBITDA Growth (3Y)(%) 6.20
GTN's EBITDA Growth (3Y)(%) is ranked higher than
58% of the 281 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 2.90 vs. GTN: 6.20 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
GTN' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: -28.6  Med: -4.50 Max: 19.4
Current: 6.2
-28.6
19.4
EPS Growth (3Y)(%) 10.70
GTN's EPS Growth (3Y)(%) is ranked higher than
60% of the 250 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.80 vs. GTN: 10.70 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
GTN' s EPS Growth (3Y)(%) Range Over the Past 10 Years
Min: -6.8  Med: 25.50 Max: 500
Current: 10.7
-6.8
500
» GTN's 10-Y Financials

Financials (Next Earnings Date: Est. 2016-08-05)


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q2 2015

GTN Guru Trades in Q2 2015

Ken Heebner 820,000 sh (New)
Jim Simons 661,478 sh (New)
Joel Greenblatt 87,512 sh (+309.62%)
Steven Cohen Sold Out
Mario Gabelli 717,799 sh (-19.26%)
Paul Tudor Jones 28,785 sh (-85.97%)
» More
Q3 2015

GTN Guru Trades in Q3 2015

Paul Tudor Jones 68,100 sh (+136.58%)
Jim Simons Sold Out
Mario Gabelli 606,700 sh (-15.48%)
Joel Greenblatt 24,157 sh (-72.40%)
Ken Heebner 50,000 sh (-93.90%)
» More
Q4 2015

GTN Guru Trades in Q4 2015

Ken Heebner 360,000 sh (+620.00%)
Joel Greenblatt Sold Out
Mario Gabelli 524,500 sh (-13.55%)
Paul Tudor Jones 37,814 sh (-44.47%)
» More
Q1 2016

GTN Guru Trades in Q1 2016

Steven Cohen 198,600 sh (New)
Jim Simons 222,850 sh (New)
Ken Heebner Sold Out
Mario Gabelli 505,100 sh (-3.70%)
Paul Tudor Jones 33,500 sh (-11.41%)
» More
» Details

Insider Trades

Latest Guru Trades with GTN

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: Entertainment » Broadcasting - TV
Compare:OTCPK:DMQHF, NYSE:EVC, NAS:CTCM, NAS:CETV, OTCPK:BECVY, OTCPK:AZTEF, NYSE:SSP, NAS:NXST, OTCPK:TVBCY, OTCPK:AITVF, AMEX:NTN, NAS:RLJE, OTCPK:ADGL, OTCPK:TVAHF, NYSE:MEG, OTCPK:TVFCF, NAS:SBGI, NYSE:TRCO, OTCPK:NPTVF, OTCPK:MDIUY » details
Traded in other countries:GCZB.Germany,
Gray Television Inc is a broadcast company that owns and operates television stations in 44 television markets broadcasting 139 program streams including 76 affiliates of the Big Four networks. It also owns and operates digital assets in markets.

Gray Television Inc is a Georgia corporation, incorporated in 1897, initially to publish the Albany Herald in Albany, Georgia. It is a television broadcast company that owns and operates television stations and digital properties in markets throughout the United States. It owns and operates television stations in 44 television markets broadcasting a total of 140 programming streams, including 26 affiliates of the CBS Network, 24 affiliates of the NBC Network, 16 affiliates of the ABC Network and ten affiliates of the FOX Network. It also broadcasts ten local news/weather channels in certain of its existing markets. The Company operates in DMAs ranked between 61 and 209 and seeks to focus its operations on university towns and state capitals. Its markets include 24 university towns, representing enrollment of approximately 547,000 students, and 12 state capitals. Television stations compete for audiences, certain programming (including news) and advertisers. Cable network programming is a competitor of broadcast television programming. Stations compete for audience based on broadcast program popularity, which has a direct effect on advertising rates. Other sources of competition for audiences, programming and advertisers include internet websites, mobile applications and wireless carriers, direct-to-consumer video distribution systems, and home entertainment systems. Its stations compete with other television stations for advertising revenues in their respective markets. Its stations also compete for advertising revenue with other media, such as newspapers, radio stations, magazines, outdoor advertising, transit advertising, yellow page directories, direct mail, internet websites, and local cable and other MVPD systems. The Company's broadcast operations are subject to the jurisdiction of the FCC.

Ratios

vs
industry
vs
history
P/E(ttm) 17.16
GTN's P/E(ttm) is ranked higher than
57% of the 289 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 20.00 vs. GTN: 17.16 )
Ranked among companies with meaningful P/E(ttm) only.
GTN' s P/E(ttm) Range Over the Past 10 Years
Min: 2.93  Med: 17.16 Max: 5700
Current: 17.16
2.93
5700
Forward P/E 6.68
GTN's Forward P/E is ranked higher than
97% of the 76 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 16.10 vs. GTN: 6.68 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 17.16
GTN's PE(NRI) is ranked higher than
57% of the 278 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 19.84 vs. GTN: 17.16 )
Ranked among companies with meaningful PE(NRI) only.
GTN' s PE(NRI) Range Over the Past 10 Years
Min: 2.95  Med: 17.32 Max: 99999999.99
Current: 17.16
2.95
99999999.99
Price/Owner Earnings (ttm) 7.34
GTN's Price/Owner Earnings (ttm) is ranked higher than
83% of the 150 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 18.47 vs. GTN: 7.34 )
Ranked among companies with meaningful Price/Owner Earnings (ttm) only.
GTN' s Price/Owner Earnings (ttm) Range Over the Past 10 Years
Min: 1.14  Med: 7.01 Max: 100.47
Current: 7.34
1.14
100.47
P/B 1.65
GTN's P/B is ranked higher than
53% of the 406 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.98 vs. GTN: 1.65 )
Ranked among companies with meaningful P/B only.
GTN' s P/B Range Over the Past 10 Years
Min: 0.13  Med: 1.13 Max: 4.19
Current: 1.65
0.13
4.19
P/S 1.15
GTN's P/S is ranked higher than
64% of the 419 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.89 vs. GTN: 1.15 )
Ranked among companies with meaningful P/S only.
GTN' s P/S Range Over the Past 10 Years
Min: 0.08  Med: 0.96 Max: 2.1
Current: 1.15
0.08
2.1
PFCF 9.39
GTN's PFCF is ranked higher than
71% of the 168 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 15.84 vs. GTN: 9.39 )
Ranked among companies with meaningful PFCF only.
GTN' s PFCF Range Over the Past 10 Years
Min: 0.47  Med: 7.77 Max: 122.3
Current: 9.39
0.47
122.3
POCF 6.90
GTN's POCF is ranked higher than
69% of the 228 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 10.61 vs. GTN: 6.90 )
Ranked among companies with meaningful POCF only.
GTN' s POCF Range Over the Past 10 Years
Min: 0.37  Med: 4.71 Max: 15.24
Current: 6.9
0.37
15.24
EV-to-EBIT 15.06
GTN's EV-to-EBIT is ranked lower than
51% of the 297 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 14.95 vs. GTN: 15.06 )
Ranked among companies with meaningful EV-to-EBIT only.
GTN' s EV-to-EBIT Range Over the Past 10 Years
Min: -3.4  Med: 14.20 Max: 42.5
Current: 15.06
-3.4
42.5
EV-to-EBITDA 10.36
GTN's EV-to-EBITDA is ranked higher than
51% of the 330 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 10.61 vs. GTN: 10.36 )
Ranked among companies with meaningful EV-to-EBITDA only.
GTN' s EV-to-EBITDA Range Over the Past 10 Years
Min: -4.2  Med: 9.40 Max: 15.5
Current: 10.36
-4.2
15.5
PEG 3.71
GTN's PEG is ranked lower than
72% of the 123 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 2.02 vs. GTN: 3.71 )
Ranked among companies with meaningful PEG only.
GTN' s PEG Range Over the Past 10 Years
Min: 1.96  Med: 3.17 Max: 5.76
Current: 3.71
1.96
5.76
Current Ratio 3.51
GTN's Current Ratio is ranked higher than
84% of the 381 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.57 vs. GTN: 3.51 )
Ranked among companies with meaningful Current Ratio only.
GTN' s Current Ratio Range Over the Past 10 Years
Min: 0.83  Med: 1.49 Max: 6.51
Current: 3.51
0.83
6.51
Quick Ratio 3.51
GTN's Quick Ratio is ranked higher than
86% of the 381 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.46 vs. GTN: 3.51 )
Ranked among companies with meaningful Quick Ratio only.
GTN' s Quick Ratio Range Over the Past 10 Years
Min: 0.83  Med: 1.47 Max: 6.51
Current: 3.51
0.83
6.51
Days Sales Outstanding 78.89
GTN's Days Sales Outstanding is ranked lower than
57% of the 343 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 69.34 vs. GTN: 78.89 )
Ranked among companies with meaningful Days Sales Outstanding only.
GTN' s Days Sales Outstanding Range Over the Past 10 Years
Min: 56.33  Med: 73.81 Max: 77.19
Current: 78.89
56.33
77.19
Days Payable 5.59
GTN's Days Payable is ranked lower than
92% of the 303 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 55.03 vs. GTN: 5.59 )
Ranked among companies with meaningful Days Payable only.
GTN' s Days Payable Range Over the Past 10 Years
Min: 3.79  Med: 8.16 Max: 21.06
Current: 5.59
3.79
21.06

Valuation & Return

vs
industry
vs
history
Price/Projected FCF 0.69
GTN's Price/Projected FCF is ranked higher than
76% of the 190 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.42 vs. GTN: 0.69 )
Ranked among companies with meaningful Price/Projected FCF only.
GTN' s Price/Projected FCF Range Over the Past 10 Years
Min: 0.06  Med: 0.72 Max: 24.69
Current: 0.69
0.06
24.69
Price/Median PS Value 1.18
GTN's Price/Median PS Value is ranked lower than
62% of the 374 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.05 vs. GTN: 1.18 )
Ranked among companies with meaningful Price/Median PS Value only.
GTN' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.09  Med: 1.36 Max: 2.92
Current: 1.18
0.09
2.92
Price/Peter Lynch Fair Value 2.37
GTN's Price/Peter Lynch Fair Value is ranked lower than
77% of the 86 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 1.48 vs. GTN: 2.37 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
GTN' s Price/Peter Lynch Fair Value Range Over the Past 10 Years
Min: 0.21  Med: 2.39 Max: 4.17
Current: 2.37
0.21
4.17
Earnings Yield (Greenblatt) (%) 6.58
GTN's Earnings Yield (Greenblatt) (%) is ranked higher than
65% of the 432 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 3.70 vs. GTN: 6.58 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
GTN' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 2.4  Med: 6.60 Max: 13.9
Current: 6.58
2.4
13.9
Forward Rate of Return (Yacktman) (%) 16.80
GTN's Forward Rate of Return (Yacktman) (%) is ranked higher than
68% of the 191 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 8.87 vs. GTN: 16.80 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
GTN' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: -5.6  Med: 11.80 Max: 128.1
Current: 16.8
-5.6
128.1

More Statistics

Revenue (TTM) (Mil) $637.8
EPS (TTM) $ 0.59
Beta2.72
Short Percentage of Float5.36%
52-Week Range $9.95 - 18.07
Shares Outstanding (Mil)72.69

Analyst Estimate

Dec16 Dec17 Dec18
Revenue (Mil $) 864 788 969
EPS ($) 1.70 0.92 1.90
EPS w/o NRI ($) 1.70 0.92 1.90
EPS Growth Rate
(3Y to 5Y Estimate)
10.00%
» More Articles for GTN

Headlines

Articles On GuruFocus.com
Best Performing Entertainment Stocks in 2015 Jul 08 2015 
Gray Television Eyeing WAGM-TV Acquisition Apr 29 2015 
Reflections from 20 Years of Investing (2001-2008) Part 3 Jul 17 2013 
Media General: Newspaper Sale Could be a Game Changer Feb 26 2012 
Tenets of Value Investing: The Dangers of Leverage Apr 08 2011 
Gray Television Inc. Reports Operating Results (10-Q) Nov 08 2010 
Gray Television Inc. Reports Operating Results (10-Q) Aug 12 2010 
Gray Television Inc. Reports Operating Results (10-Q) May 10 2010 
Gray Television Inc. Reports Operating Results (10-Q) Nov 09 2009 
Gray Television Inc. Reports Operating Results (10-Q) Aug 07 2009 

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