ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Gray Media's annualized net income for the quarter that ended in Mar. 2026 was $-80 Mil. Gray Media's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was $2,784 Mil. Therefore, Gray Media's annualized ROE % for the quarter that ended in Mar. 2026 was -2.87%.
The historical rank and industry rank for Gray Media's ROE % or its related term are showing as below:
GTN'
s ROE % Range Over the Past 10 Years
Min: -3.82 Med: 13.51 Max: 35.27
Current: -3.82
During the past 13 years, Gray Media's highest ROE % was 35.27%. The lowest was -3.82%. And the median was 13.51%.
GTN's ROE % is ranked worse than 66.39% of 958
companies
in the Media - Diversified industry
Industry Median: 2.47
vs GTN: -3.82
Gray Media (NYSE:GTN) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Gray Media ROE % Related Terms
Gray Media ROE % Historical Data
* Premium members only.
The historical data trend for Gray Media's ROE % 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 ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Gray Media's ROE % distribution charts can be found below:
* The bar in red indicates where Gray Media's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Gray Media (GTN) has a ROE % of -2.87% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Gray Media and its competitors. According to the industry distribution chart, Gray Media ranks #636 out of 958 companies in the Media - Diversified industry, placing it in the top 66.4%.
Is Gray Media's ROE % too high?
Gray Media's current ROE % is -2.87%. Based on the distribution chart, Gray Media ranks #636 out of 958 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Gray Media has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Gray Media's ROE % compare to SSP and FUBO?
According to the Media - Diversified industry distribution chart, Gray Media ranks #636 out of 958 companies for ROE %. This places Gray Media in the lower half of its industry. The industry median ROE % is 2.47. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Media - Diversified company?
The median ROE % among Media - Diversified companies is 2.47, based on 958 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Gray Media and its competitors. For the Media - Diversified industry, the median ROE % is 2.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gray Media's current ROE % is -2.87%. 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 $3.65, compared to a current price of $3.95 — trading 8.2% above its estimated fair value. The current ROE % is -2.87%. Gray Media's overall GF Score™ is 65/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Gray Media (GTN), the current ROE % is -2.87% 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 overvalued.
The current stock price of $3.95 is trading 8.2% above its estimated GF Value™ of $3.65.
GuruFocus considers Gray Media to be Fairly Valued.
Key valuation signals for GTN:
ROE %: -2.87%
GF Value™: $3.65 vs. price of $3.95 (8.2% above fair value)
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.
65GF Score
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