Gray Television Inc
Gray Media, Inc., a multimedia company, owns and/or operates local television stations and digital assets in the United States. The company operates through Broadcasting, Production Companies, and Other segments. It also owns Gray Digital Media, a digital agency that provides clients with digital marketing strategies; and operates video production companies and studio production facilities. The c… Read more
Gray Television Inc (GTN-A) - Net Assets
Latest net assets as of December 2025: $2.81 Billion USD
Based on the latest financial reports, Gray Television Inc (GTN-A) has net assets worth $2.81 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($10.44 Billion) and total liabilities ($7.63 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.81 Billion |
| % of Total Assets | 26.87% |
| Annual Growth Rate | 13.23% |
| 5-Year Change | 16.54% |
| 10-Year Change | 469.13% |
| Growth Volatility | 305.55 |
Gray Television Inc - Net Assets Trend (1990–2025)
This chart illustrates how Gray Television Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Gray Television Inc (1990–2025)
The table below shows the annual net assets of Gray Television Inc from 1990 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $2.81 Billion | -4.36% |
| 2024-12-31 | $2.93 Billion | +11.90% |
| 2023-12-31 | $2.62 Billion | -5.24% |
| 2022-12-31 | $2.77 Billion | +14.91% |
| 2021-12-31 | $2.41 Billion | +0.17% |
| 2020-12-31 | $2.40 Billion | +13.67% |
| 2019-12-31 | $2.11 Billion | +78.07% |
| 2018-12-31 | $1.19 Billion | +19.57% |
| 2017-12-31 | $992.90 Million | +101.46% |
| 2016-12-31 | $492.86 Million | +14.81% |
| 2015-12-31 | $429.27 Million | +98.56% |
| 2014-12-31 | $216.19 Million | +24.24% |
| 2013-12-31 | $174.01 Million | +20.89% |
| 2012-12-31 | $143.94 Million | +17.07% |
| 2011-12-31 | $122.95 Million | -4.99% |
| 2010-12-31 | $129.41 Million | +38.23% |
| 2009-12-31 | $93.62 Million | -20.06% |
| 2008-12-31 | $117.11 Million | -65.34% |
| 2007-12-31 | $337.85 Million | -11.04% |
| 2006-12-31 | $379.75 Million | -0.33% |
| 2005-12-31 | $381.00 Million | +0.73% |
| 2004-12-31 | $378.24 Million | +4.26% |
| 2003-12-31 | $362.77 Million | -1.80% |
| 2002-12-31 | $369.42 Million | +159.80% |
| 2001-12-31 | $142.20 Million | -8.83% |
| 2000-12-31 | $155.96 Million | -7.28% |
| 1999-12-31 | $168.20 Million | +32.75% |
| 1998-12-31 | $126.70 Million | +37.27% |
| 1997-12-31 | $92.30 Million | -3.05% |
| 1996-12-31 | $95.20 Million | +1804.00% |
| 1994-12-31 | $5.00 Million | -29.58% |
| 1993-12-31 | $7.10 Million | +82.05% |
| 1992-12-31 | $3.90 Million | -89.23% |
| 1991-12-31 | $36.20 Million | 0.00% |
| 1990-12-31 | $36.20 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Gray Television Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 3433.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.21 Billion | 42.96% |
| Common Stock | $1.28 Billion | 45.53% |
| Other Comprehensive Income | $-4.00 Million | -0.14% |
| Other Components | $327.00 Million | 11.66% |
| Total Equity | $2.81 Billion | 100.00% |
Gray Television Inc Competitors by Market Cap
The table below lists competitors of Gray Television Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
China Suntien Green Energy Corporation Limited
PINK:CSGEF
|
$894.23 Million |
|
Chengdu Haoneng Tech Co Ltd
SHG:603809
|
$894.77 Million |
|
Gelex Group JSC
VN:GEX
|
$895.44 Million |
|
Azenta Inc
NASDAQ:AZTA
|
$895.59 Million |
|
Zhejiang Wolwo Bio-Pharmaceutical Co Ltd
SHE:300357
|
$893.83 Million |
|
Hunan Friendship&Apollo Commercial Co Ltd
SHE:002277
|
$893.82 Million |
|
TOWA Corporation
F:TWA
|
$893.35 Million |
|
Harbin Gloria Pharmaceuticals
SHE:002437
|
$893.29 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gray Television Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,933,000,000 to 2,805,000,000, a change of -128,000,000 (-4.4%).
- Net loss of 85,000,000 reduced equity.
- Dividend payments of 85,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 26,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-85.00 Million | -3.03% |
| Dividends Paid | $85.00 Million | -3.03% |
| Other Comprehensive Income | $26.00 Million | +0.93% |
| Other Changes | $16.00 Million | +0.57% |
| Total Change | $- | -4.36% |
Book Value vs Market Value Analysis
This analysis compares Gray Television Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.37x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.29x to 0.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1990-12-31 | $3.28 | $10.79 | x |
| 1991-12-31 | $3.28 | $10.79 | x |
| 1992-12-31 | $0.49 | $10.79 | x |
| 1993-12-31 | $1.10 | $10.79 | x |
| 1994-12-31 | $0.70 | $10.79 | x |
| 1996-12-31 | $11.33 | $10.79 | x |
| 1997-12-31 | $7.79 | $10.79 | x |
| 1998-12-31 | $10.21 | $10.79 | x |
| 1999-12-31 | $13.10 | $10.79 | x |
| 2000-12-31 | $10.06 | $10.79 | x |
| 2001-12-31 | $9.11 | $10.79 | x |
| 2002-12-31 | $16.51 | $10.79 | x |
| 2003-12-31 | $7.18 | $10.79 | x |
| 2004-12-31 | $7.54 | $10.79 | x |
| 2005-12-31 | $7.83 | $10.79 | x |
| 2006-12-31 | $7.84 | $10.79 | x |
| 2007-12-31 | $7.07 | $10.79 | x |
| 2008-12-31 | $2.42 | $10.79 | x |
| 2009-12-31 | $1.93 | $10.79 | x |
| 2010-12-31 | $2.38 | $10.79 | x |
| 2011-12-31 | $2.15 | $10.79 | x |
| 2012-12-31 | $2.51 | $10.79 | x |
| 2013-12-31 | $3.00 | $10.79 | x |
| 2014-12-31 | $3.70 | $10.79 | x |
| 2015-12-31 | $6.22 | $10.79 | x |
| 2016-12-31 | $6.77 | $10.79 | x |
| 2017-12-31 | $13.45 | $10.79 | x |
| 2018-12-31 | $13.37 | $10.79 | x |
| 2019-12-31 | $21.14 | $10.79 | x |
| 2020-12-31 | $24.77 | $10.79 | x |
| 2021-12-31 | $25.34 | $10.79 | x |
| 2022-12-31 | $29.74 | $10.79 | x |
| 2023-12-31 | $28.49 | $10.79 | x |
| 2024-12-31 | $30.55 | $10.79 | x |
| 2025-12-31 | $28.92 | $10.79 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gray Television Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.03%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2.75%
- • Asset Turnover: 0.30x
- • Equity Multiplier: 3.72x
- Recent ROE (-3.03%) is below the historical average (2.85%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1990 | 8.84% | 11.64% | 0.66x | 1.15x | $-420.00K |
| 1991 | 8.84% | 11.64% | 0.66x | 1.15x | $-420.00K |
| 1992 | -10.26% | -1.45% | 1.04x | 6.77x | $-790.00K |
| 1993 | 15.49% | 8.40% | 0.61x | 3.01x | $390.00K |
| 1994 | 56.00% | 7.67% | 0.53x | 13.76x | $2.30 Million |
| 1996 | 2.63% | 3.15% | 0.27x | 3.14x | $-7.02 Million |
| 1997 | -1.52% | -1.35% | 0.30x | 3.74x | $-10.63 Million |
| 1998 | 32.91% | 32.35% | 0.27x | 3.70x | $29.03 Million |
| 1999 | -3.75% | -4.38% | 0.22x | 3.91x | $-23.12 Million |
| 2000 | -3.98% | -3.63% | 0.27x | 4.08x | $-21.81 Million |
| 2001 | -9.37% | -8.52% | 0.20x | 5.59x | $-27.54 Million |
| 2002 | -7.55% | -14.04% | 0.15x | 3.51x | $-64.83 Million |
| 2003 | 3.87% | 4.75% | 0.22x | 3.65x | $-22.25 Million |
| 2004 | 11.71% | 12.78% | 0.25x | 3.63x | $6.46 Million |
| 2005 | 0.88% | 1.29% | 0.17x | 4.00x | $-34.74 Million |
| 2006 | 3.08% | 3.53% | 0.20x | 4.29x | $-26.26 Million |
| 2007 | -6.85% | -7.53% | 0.19x | 4.81x | $-56.94 Million |
| 2008 | -172.51% | -61.75% | 0.26x | 10.92x | $-213.73 Million |
| 2009 | -24.62% | -8.52% | 0.22x | 13.31x | $-32.41 Million |
| 2010 | 17.90% | 6.69% | 0.28x | 9.60x | $10.22 Million |
| 2011 | 7.35% | 2.94% | 0.25x | 10.04x | $-3.26 Million |
| 2012 | 19.54% | 6.95% | 0.32x | 8.68x | $13.74 Million |
| 2013 | 10.51% | 5.28% | 0.26x | 7.67x | $887.00K |
| 2014 | 22.23% | 9.46% | 0.27x | 8.66x | $26.44 Million |
| 2015 | 9.16% | 6.58% | 0.28x | 4.99x | $-3.63 Million |
| 2016 | 12.64% | 7.66% | 0.29x | 5.65x | $12.99 Million |
| 2017 | 26.38% | 29.68% | 0.27x | 3.28x | $162.66 Million |
| 2018 | 17.76% | 19.44% | 0.26x | 3.55x | $92.08 Million |
| 2019 | 8.47% | 8.44% | 0.30x | 3.30x | $-32.40 Million |
| 2020 | 17.06% | 17.22% | 0.31x | 3.18x | $169.70 Million |
| 2021 | 3.74% | 3.73% | 0.22x | 4.61x | $-150.70 Million |
| 2022 | 16.45% | 12.38% | 0.33x | 4.03x | $178.40 Million |
| 2023 | -2.90% | -2.32% | 0.31x | 4.06x | $-338.10 Million |
| 2024 | 12.79% | 10.29% | 0.35x | 3.59x | $81.70 Million |
| 2025 | -3.03% | -2.75% | 0.30x | 3.72x | $-365.50 Million |
Industry Comparison
This section compares Gray Television Inc's net assets metrics with peer companies in the Broadcasting industry.
Industry Context
- Industry: Broadcasting
- Average net assets among peers: $499,215,549
- Average return on equity (ROE) among peers: -105.84%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gray Television Inc (GTN-A) | $2.81 Billion | 8.84% | 2.72x | $894.19 Million |
| Aferian Plc (AOECF) | $78.88 Million | -22.09% | 0.59x | $3.61 Million |
| TV Azteca S.A.B. de C.V (AZTEF) | $3.48 Billion | -18.61% | 7.05x | $89.58K |
| Beasley Broadcast Group Inc (BBGI) | $47.53 Million | -64.28% | 4.57x | $2.28 Million |
| Cumulus Media Inc Class A (CMLS) | $512.74 Million | 38.24% | 6.55x | $1.82 Million |
| Curiositystream Inc. (CURI) | $72.65 Million | -67.31% | 0.39x | $138.54 Million |
| Emmis Communications Corp (EMMS) | $-6.51 Million | 0.00% | 0.00x | $26.80 Million |
| Freedom Holdings Inc (FHLD) | $268.93K | -415.05% | 9.21x | $894.13K |
| Fubotv Inc (FUBO) | $283.82 Million | -101.28% | 3.34x | $409.09 Million |
| Granite Broadcasting Corporation (GRRP) | $26.99 Million | -302.20% | 16.49x | $1.99K |