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GuruFocus has detected 5 Warning Signs with Gray Television Inc $GTN.
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Gray Television Inc (NYSE:GTN)
EV-to-EBIT
12.66 (As of Today)

EV/EBIT ratio is calculated as enterprise value divided by its Earnings Before Interest and Taxes (EBIT). As of today, Gray Television Inc's enterprise value is $2,623.4 Mil. Gray Television Inc's earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2017 was $207.3 Mil. Therefore, Gray Television Inc's EV/EBIT ratio for today is 12.66.

GTN' s EV-to-EBIT Range Over the Past 10 Years
Min: -3.5   Max: 42.5
Current: 12.66

-3.5
42.5

During the past 13 years, the highest EV/EBIT Ratio of Gray Television Inc was 42.50. The lowest was -3.50. And the median was 13.30.

GTN's EV-to-EBIT is ranked higher than
69% of the 453 Companies
in the Global Broadcasting - TV industry.

( Industry Median: 15.31 vs. GTN: 12.66 )

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt). Gray Television Inc's enterprise value for the quarter that ended in Mar. 2017 was $2,787.1 Mil. Gray Television Inc's earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2017 was $207.3 Mil. Gray Television Inc's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2017 was 7.44%.


Definition

Gray Television Inc's EV/EBIT for today is calculated as:

EV/EBIT=Enterprise Value (Today)/Earnings Before Interest and Taxes (EBIT) (TTM)
=2623.384/207.272
=12.66

Gray Television Inc's current Enterprise Value is $2,623.4 Mil.
Gray Television Inc's Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2017 was 53.828 (Jun. 2016 ) + 28.51 (Sep. 2016 ) + 83.909 (Dec. 2016 ) + 41.025 (Mar. 2017 ) = $207.3 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

This is a more accurate valuation of companies' operation because it consider the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt).

Gray Television Inc's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2017 is calculated as:

Earnings Yield (Joel Greenblatt) (Q: Mar. 2017 )=EBIT (TTM)/Enterprise Value (Q: Mar. 2017 )
=207.272/2787.064
=7.44 %

Gray Television Inc's Enterprise Value for the quarter that ended in Mar. 2017 was $2,787.1 Mil.
Gray Television Inc's Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2017 was 53.828 (Jun. 2016 ) + 28.51 (Sep. 2016 ) + 83.909 (Dec. 2016 ) + 41.025 (Mar. 2017 ) = $207.3 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Related Terms

Enterprise Value, Earnings Yield (Joel Greenblatt), Earnings Before Interest and Taxes (EBIT)


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Gray Television Inc Annual Data

Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
ev2ebit 41.74-3.0724.408.6512.048.6418.8111.7115.0710.77

Gray Television Inc Quarterly Data

Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16Mar17
ev2ebit 11.7110.7010.8811.8615.0715.3713.8214.1010.770.00
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