Gray Television Inc Net Assets
Gray Television Inc net assets. Based on the latest financial reports, Gray Television Inc (GTN-A) has net assets worth $2.76 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($10.32 Billion) and total liabilities ($7.56 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. Also explore net asset momentum of Gray Television Inc to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.76 Billion |
| % of Total Assets | 26.78% |
| Annual Growth Rate | 13.23% |
| 5-Year Change | 16.54% |
| 10-Year Change | 469.13% |
| Growth Volatility | 305.55 |
Net Assets of Gray Television Inc (1990–2025)
Net assets of Gray Television Inc from 1990 to 2025. This chart illustrates how Gray Television Inc's net assets have evolved over time, based on quarterly financial data. See GTN-A equity financing ratio to measure how much of total assets are equity-financed.
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. For live market cap and overall valuation, see how much is Gray Television Inc worth.
| 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.
Gray Television Inc Net Assets Breakdown (December 2025)
Gray Television Inc net assets breakdown by equity component as of 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 |
|---|---|
|
Ribbon Acquisition Corp Unit
NASDAQ:RIBBU
|
$76.22 Million |
|
ZUARI INDUSTRIES LIMITED
NSE:ZUARIIND
|
$76.22 Million |
|
Ba Ria Vung Tau House Development JSC
VN:HDC
|
$76.23 Million |
|
Netanel Group
TA:NTGR
|
$76.25 Million |
|
Hyungji Elite
KO:093240
|
$76.17 Million |
|
SEAL Incorporated Bhd
KLSE:4286
|
$76.15 Million |
|
Orma Orman Mahsulleri Integre Sanayi ve Ticaret AS
IS:ORMA
|
$76.15 Million |
|
Delta Lithium Ltd
AU:DLI
|
$76.14 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: 0.27x
- 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 2.35x to 0.27x 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 | $7.72 | x |
| 1991-12-31 | $3.28 | $7.72 | x |
| 1992-12-31 | $0.49 | $7.72 | x |
| 1993-12-31 | $1.10 | $7.72 | x |
| 1994-12-31 | $0.70 | $7.72 | x |
| 1996-12-31 | $11.33 | $7.72 | x |
| 1997-12-31 | $7.79 | $7.72 | x |
| 1998-12-31 | $10.21 | $7.72 | x |
| 1999-12-31 | $13.10 | $7.72 | x |
| 2000-12-31 | $10.06 | $7.72 | x |
| 2001-12-31 | $9.11 | $7.72 | x |
| 2002-12-31 | $16.51 | $7.72 | x |
| 2003-12-31 | $7.18 | $7.72 | x |
| 2004-12-31 | $7.54 | $7.72 | x |
| 2005-12-31 | $7.83 | $7.72 | x |
| 2006-12-31 | $7.84 | $7.72 | x |
| 2007-12-31 | $7.07 | $7.72 | x |
| 2008-12-31 | $2.42 | $7.72 | x |
| 2009-12-31 | $1.93 | $7.72 | x |
| 2010-12-31 | $2.38 | $7.72 | x |
| 2011-12-31 | $2.15 | $7.72 | x |
| 2012-12-31 | $2.51 | $7.72 | x |
| 2013-12-31 | $3.00 | $7.72 | x |
| 2014-12-31 | $3.70 | $7.72 | x |
| 2015-12-31 | $6.22 | $7.72 | x |
| 2016-12-31 | $6.77 | $7.72 | x |
| 2017-12-31 | $13.45 | $7.72 | x |
| 2018-12-31 | $13.37 | $7.72 | x |
| 2019-12-31 | $21.14 | $7.72 | x |
| 2020-12-31 | $24.77 | $7.72 | x |
| 2021-12-31 | $25.34 | $7.72 | x |
| 2022-12-31 | $29.74 | $7.72 | x |
| 2023-12-31 | $28.49 | $7.72 | x |
| 2024-12-31 | $30.55 | $7.72 | x |
| 2025-12-31 | $28.92 | $7.72 | 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: $-1,083,924,932
- Average return on equity (ROE) among peers: -31.64%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gray Television Inc (GTN-A) | $2.76 Billion | 8.84% | 2.73x | $76.19 Million |
| Beasley Broadcast Group Inc (BBGI) | $69.41 Million | 18.40% | 3.00x | $6.16 Million |
| FreeCast, Inc. Class A Common Stock (CAST) | $-3.12 Million | 0.00% | 0.00x | $43.75 Million |
| Cumulus Media Inc Class A (CMLS) | $318.50 Million | -10.28% | 10.75x | $2.54 Million |
| Curiositystream Inc. (CURI) | $106.69 Million | -34.40% | 0.07x | $150.99 Million |
| CuriosityStream Inc (CURIW) | $44.97 Million | -108.06% | 0.97x | $116.21 |
| Flash Sports & Media Holdings, Inc. (FLZH) | $48.17 Million | -1.82% | 0.54x | $4.29 Million |
| Fubotv Inc (FUBO) | $403.33 Million | -139.21% | 2.17x | $230.16 Million |
| Gray Television Inc (GTN) | $142.20 Million | -9.37% | 4.59x | $415.33 Million |
| iHeartMedia Inc Class A (IHRT) | $-10.89 Billion | 0.00% | 0.00x | $246.01 Million |
About 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