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Gray Media Valuation Multiples

Discover revenue and EBITDA valuation multiples for Gray Media and similar public comparables like BEC World, Southern Cross Media, and Seven West Media.

Gray Media Overview

About Gray Media

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.


Founded

1897

HQ

United States of America
Employees

9.5K+

Website

gray.tv

Financials

LTM Revenue $3.4B

LTM EBITDA $962M

EV

$6.7B

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Gray Media Financials

Gray Media has a last 12-month revenue (LTM) of $3.4B and a last 12-month EBITDA of $962M.

In the most recent fiscal year, Gray Media achieved revenue of $3.6B and an EBITDA of $1.3B.

Gray Media expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Gray Media P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $3.4B XXX $3.6B XXX XXX XXX
Gross Profit $3.4B XXX $1.2B XXX XXX XXX
Gross Margin 100% XXX 34% XXX XXX XXX
EBITDA $962M XXX $1.3B XXX XXX XXX
EBITDA Margin 28% XXX 35% XXX XXX XXX
EBIT $669M XXX $871M XXX XXX XXX
EBIT Margin 19% XXX 24% XXX XXX XXX
Net Profit $157M XXX $375M XXX XXX XXX
Net Margin 5% XXX 10% XXX XXX XXX
Net Debt XXX XXX $5.5B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Gray Media Stock Performance

As of May 30, 2025, Gray Media's stock price is $4.

Gray Media has current market cap of $450M, and EV of $6.7B.

See Gray Media trading valuation data

Gray Media Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$6.7B $450M XXX XXX XXX XXX $1.64

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Gray Media Valuation Multiples

As of May 30, 2025, Gray Media has market cap of $450M and EV of $6.7B.

Gray Media's trades at 1.8x EV/Revenue multiple, and 5.2x EV/EBITDA.

Equity research analysts estimate Gray Media's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Gray Media has a P/E ratio of 2.9x.

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Gray Media Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $450M XXX $450M XXX XXX XXX
EV (current) $6.7B XXX $6.7B XXX XXX XXX
EV/Revenue 1.9x XXX 1.8x XXX XXX XXX
EV/EBITDA 6.9x XXX 5.2x XXX XXX XXX
EV/EBIT 10.0x XXX 7.6x XXX XXX XXX
EV/Gross Profit 1.9x XXX n/a XXX XXX XXX
P/E 2.9x XXX 1.2x XXX XXX XXX
EV/FCF 25.9x XXX 11.0x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Gray Media Margins & Growth Rates

Gray Media's last 12 month revenue growth is -2%

Gray Media's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $39K for the same period.

Gray Media's rule of 40 is 20% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Gray Media's rule of X is 23% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

See operational valuation multiples for Gray Media and other 12K+ public comps

Gray Media Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -2% XXX 0% XXX XXX XXX
EBITDA Margin 28% XXX 35% XXX XXX XXX
EBITDA Growth -10% XXX -4% XXX XXX XXX
Rule of 40 20% XXX 33% XXX XXX XXX
Bessemer Rule of X XXX XXX 23% XXX XXX XXX
Revenue per Employee XXX XXX $0.4M XXX XXX XXX
Opex per Employee XXX XXX $39K XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 10% XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Gray Media Public Comps

See public comps and valuation multiples for TV Broadcasting and Content Production comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Nine Entertainment XXX XXX XXX XXX XXX XXX
Sports Entertainment Group XXX XXX XXX XXX XXX XXX
Seven West Media XXX XXX XXX XXX XXX XXX
Southern Cross Media XXX XXX XXX XXX XXX XXX
BEC World XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Gray Media M&A and Investment Activity

Gray Media acquired  XXX companies to date.

Last acquisition by Gray Media was  XXXXXXXX, XXXXX XXXXX XXXXXX . Gray Media acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Gray Media

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Gray Media

When was Gray Media founded? Gray Media was founded in 1897.
Where is Gray Media headquartered? Gray Media is headquartered in United States of America.
How many employees does Gray Media have? As of today, Gray Media has 9.5K+ employees.
Who is the CEO of Gray Media? Gray Media's CEO is Mr. Hilton H. Howell,Jr.
Is Gray Media publicy listed? Yes, Gray Media is a public company listed on NYS.
What is the stock symbol of Gray Media? Gray Media trades under GTN.A ticker.
When did Gray Media go public? Gray Media went public in 1996.
Who are competitors of Gray Media? Similar companies to Gray Media include e.g. Nine Entertainment, Sports Entertainment Group, Seven West Media, Southern Cross Media.
What is the current market cap of Gray Media? Gray Media's current market cap is $450M
What is the current revenue of Gray Media? Gray Media's last 12 months revenue is $3.4B.
What is the current revenue growth of Gray Media? Gray Media revenue growth (NTM/LTM) is -2%.
What is the current EV/Revenue multiple of Gray Media? Current revenue multiple of Gray Media is 1.9x.
Is Gray Media profitable? Yes, Gray Media is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Gray Media? Gray Media's last 12 months EBITDA is $962M.
What is Gray Media's EBITDA margin? Gray Media's last 12 months EBITDA margin is 28%.
What is the current EV/EBITDA multiple of Gray Media? Current EBITDA multiple of Gray Media is 6.9x.
What is the current FCF of Gray Media? Gray Media's last 12 months FCF is $257M.
What is Gray Media's FCF margin? Gray Media's last 12 months FCF margin is 7%.
What is the current EV/FCF multiple of Gray Media? Current FCF multiple of Gray Media is 25.9x.

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