🚀 VC round data is live in beta, check it out!
Gray Media Valuation Multiples
Discover revenue and EBITDA valuation multiples for Gray Media and similar public comparables like NRJ Group, TV Tokyo Holdings, Viaplay, iHeartMedia and more.
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
Employees
9.5K
Website
Financials (LTM)
EV
$7B
Gray Media Financials
Gray Media reported last 12-month revenue of $3B and EBITDA of $798M.
In the same LTM period, Gray Media generated $798M in EBITDA and had net loss of ($21M).
Revenue (LTM)
Gray Media P&L
In the most recent fiscal year, Gray Media reported revenue of $3B and EBITDA of $667M.
Gray Media expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $761M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 25% | XXX | XXX | XXX |
| EBITDA | $798M | XXX | $667M | XXX | XXX | XXX |
| EBITDA Margin | 25% | XXX | 22% | XXX | XXX | XXX |
| EBIT Margin | 17% | XXX | 13% | XXX | XXX | XXX |
| Net Profit | ($21M) | XXX | ($85M) | XXX | XXX | XXX |
| Net Margin | (1%) | XXX | (3%) | XXX | XXX | XXX |
| Net Debt | — | — | $5B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Gray Media Stock Performance
Gray Media has current market cap of $663M, and enterprise value of $7B.
Market Cap Evolution
Gray Media's stock price is $6.45.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $7B | $663M | 0.0% | XXX | XXX | XXX | $-0.83 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialGray Media Valuation Multiples
Gray Media trades at 2.1x EV/Revenue multiple, and 8.5x EV/EBITDA.
EV / Revenue (LTM)
Gray Media Financial Valuation Multiples
As of April 19, 2026, Gray Media has market cap of $663M and EV of $7B.
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 (31.1x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $663M | XXX | $663M | XXX | XXX | XXX |
| EV (current) | $7B | XXX | $7B | XXX | XXX | XXX |
| EV/Revenue | 2.1x | XXX | 2.2x | XXX | XXX | XXX |
| EV/EBITDA | 8.5x | XXX | 10.1x | XXX | XXX | XXX |
| EV/EBIT | 12.6x | XXX | 16.4x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 8.9x | XXX | XXX | XXX |
| P/E | (31.1x) | XXX | (7.8x) | XXX | XXX | XXX |
| EV/FCF | 47.7x | XXX | 37.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Gray Media Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Gray Media Margins & Growth Rates
Gray Media's revenue in the last 12 month grew by 5%.
Gray Media's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.0M for the same period.
Gray Media's rule of 40 is 45% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Gray Media's rule of X is 64% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Gray Media Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Margin | 25% | XXX | 22% | XXX | XXX | XXX |
| EBITDA Growth | 22% | XXX | 66% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 45% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 64% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 4% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 11% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Gray Media Public Comps
See public comps and valuation multiples for other TV Broadcasting and Radio Broadcasting comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Gray Media | XXX | XXX | XXX | XXX | XXX | XXX |
| NRJ Group | XXX | XXX | XXX | XXX | XXX | XXX |
| TV Tokyo Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Viaplay | XXX | XXX | XXX | XXX | XXX | XXX |
| iHeartMedia | XXX | XXX | XXX | XXX | XXX | XXX |
| Hyundai Home Shopping | 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 Activity
Gray Media acquired XXX companies to date.
Last acquisition by Gray Media was on XXXXXXXX, XXXXX. Gray Media acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Gray Media
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialGray Media Investment Activity
Gray Media invested in XXX companies to date.
Gray Media made its latest investment on XXXXXXXX, XXXXX. Gray Media invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Gray Media
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout 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. |
| How many employees does Gray Media have? | As of today, Gray Media has over 9K employees. |
| Who is the CEO of Gray Media? | Gray Media's CEO is Hilton H. Howell. |
| Is Gray Media publicly listed? | Yes, Gray Media is a public company listed on NYSE. |
| What is the stock symbol of Gray Media? | Gray Media trades under GTN ticker. |
| When did Gray Media go public? | Gray Media went public in 1996. |
| Who are competitors of Gray Media? | Gray Media main competitors are NRJ Group, TV Tokyo Holdings, Viaplay, iHeartMedia. |
| What is the current market cap of Gray Media? | Gray Media's current market cap is $663M. |
| What is the current revenue of Gray Media? | Gray Media's last 12 months revenue is $3B. |
| What is the current revenue growth of Gray Media? | Gray Media revenue growth (NTM/LTM) is 5%. |
| What is the current EV/Revenue multiple of Gray Media? | Current revenue multiple of Gray Media is 2.1x. |
| 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 $798M. |
| What is Gray Media's EBITDA margin? | Gray Media's last 12 months EBITDA margin is 25%. |
| What is the current EV/EBITDA multiple of Gray Media? | Current EBITDA multiple of Gray Media is 8.5x. |
| What is the current FCF of Gray Media? | Gray Media's last 12 months FCF is $142M. |
| What is Gray Media's FCF margin? | Gray Media's last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of Gray Media? | Current FCF multiple of Gray Media is 47.7x. |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.