Aug. 20 at 12:43 PM
$GTN — SELL 🔴
Leverage is the core problem: total debt is
$5.9B, net debt/EBITDA is 8.3x, and total debt/equity is 215.8%, leaving little room if ad demand softens or refinancing costs stay elevated.
FCF looks solid on paper at
$155.1M TTM and 30.1% FCF yield, but the balance sheet still screens tight with a 0.95x current ratio and only
$250M of operating cash flow TTM.
Q2 2026 revenue was
$839M and EBITDA was
$198M, but net income fell to
$14M from
$56M in Q2 2025, showing earnings quality remains weak despite the top-line lift.
Valuation is not cheap enough for the risk at 2.2x EV/revenue and 9.9x EV/EBITDA, while the mean analyst target is
$6.5 versus a
$3 low and
$11 high.
Full research: https://lf0.com/research/gray-media-stock-analysis-gtn/?utm_source=stocktwits&utm_medium=social&utm_campaign=research_distribution
