Gray MediaGTN +6.15%66 Gross Margin % is 24.09% as of Mar. 2026, which is 32% below its 10-year median of 35.48. GuruFocus rates GTN with a GF Score™ of 66/100 and a GF Value™ of $4.19 (Fairly Valued). The stock has 8 warning signs investors should review. Among 946 Media - Diversified companies, Gray Media ranks worse than 70.93% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Gray Media's Gross Profit for the
three
months ended in Mar. 2026 was $185 Mil. Gray Media's Revenue for the
three
months ended in Mar. 2026 was $768 Mil. Therefore, Gray Media's Gross Margin % for the quarter that ended in Mar. 2026 was 24.09%.
Warning Sign:
Gray Media Inc gross margin has been in long-term decline. The average rate of decline per year is -7.9%.
The historical rank and industry rank for Gray Media's Gross Margin % or its related term are showing as below:
GTN'
s Gross Margin % Range Over the Past 10 Years
Min: 24.59 Med: 35.48 Max: 45.02
Current: 24.7
During the past 13 years, the highestGross Margin % of Gray Media was 45.02%. The lowest was 24.59%. And the median was 35.48%.
GTN's Gross Margin % is ranked worse than 70.93% of 946
companies
in the Media - Diversified industry
Industry Median: 38.91
vs GTN: 24.70
Gray Media had a gross margin of 24.09% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Gray Media was -7.90% per year.
Gray Media (NYSE:GTN) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Gray Media had a gross margin of 24.09% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Gray Media Gross Margin % Related Terms
Gray Media Gross Margin % Historical Data
* Premium members only.
The historical data trend for Gray Media's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Broadcasting subindustry, Gray Media's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Gray Media Gross Margin % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Gray Media's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Gray Media's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Gray Media (GTN) has a Gross Margin % of 24.09% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Gray Media and its competitors. This is 32% below median its historical median of 35.48. Over the past decade, Gray Media's Gross Margin % has ranged from 24.59 to 45.02. According to the industry distribution chart, Gray Media ranks #671 out of 946 companies in the Media - Diversified industry, placing it in the top 70.9%.
Is Gray Media's Gross Margin % too high?
Gray Media's current Gross Margin % of 24.09% is 32% below median its 10-year median of 35.48. Over the past 10 years, this metric has ranged from a low of 24.59 to a high of 45.02. The Media - Diversified industry median Gross Margin % is 38.91. Gray Media's value of 24.09% is 38.1% below this industry median. Based on the distribution chart, Gray Media ranks #671 out of 946 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Gray Media has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Gray Media's Gross Margin % compare to SSP and FUBO?
According to the Media - Diversified industry distribution chart, Gray Media ranks #671 out of 946 companies for Gross Margin %. This places Gray Media in the lower half of its industry. The industry median Gross Margin % is 38.91. Gray Media's value of 24.09% is 38.1% below this benchmark. Historically, Gray Media's own Gross Margin % has ranged from 24.59 to 45.02 over the past decade. While the company's 10-year median is 35.48 vs. the industry median of 38.91, Gray Media has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Media - Diversified company?
The median Gross Margin % among Media - Diversified companies is 38.91, based on 946 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Gray Media's current Gross Margin % of 24.09% is 38.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Gray Media and its competitors. For the Media - Diversified industry, the median Gross Margin % is 38.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gray Media's current Gross Margin % is 24.09%, which is 32% below median its own 10-year median of 35.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gray Media stock overvalued right now?
Based on GuruFocus' analysis, Gray Media (GTN) is currently considered Fairly Valued. The stock's GF Value™ is $4.19, compared to a current price of $3.80 — trading 9.3% below its estimated fair value. The current Gross Margin % is 24.09%, which is 32% below median its 10-year median of 35.48 and 38.1% below the Media - Diversified industry median of 38.91. Gray Media's overall GF Score™ is 66/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Gray Media (GTN), the current Gross Margin % is 24.09% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Gray Media (GTN) Overvalued in 2026?
Based on GuruFocus' analysis, Gray Media stock appears to be undervalued.
The current stock price of $3.80 is trading 9.3% below its estimated GF Value™ of $4.19.
GuruFocus considers Gray Media to be Fairly Valued.
Key valuation signals for GTN:
Gross Margin %: 24.09% (32% below median its 10-year median of 35.48)
GF Value™: $4.19 vs. price of $3.80 (9.3% below fair value)
Industry Position: 38.1% below the Media - Diversified median (#671 of 946)
No single metric tells the full story. See the GTN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Gray Media Inc is a multimedia company. The company owns and operates local television stations and digital assets. It also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with digital products and services. Its additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. The company's segments include Broadcasting and Production Companies. The majority of revenue is derived from broadcast and digital advertising and from retransmission consent fees.
66GF Score
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