$1.6 B

GTN Mkt cap, 04-Dec-2018

$279.3 M

Gray Television Revenue Q3, 2018
Gray Television Net income (Q3, 2018)61.9 M
Gray Television EBIT (Q3, 2018)108.4 M
Gray Television Cash, 30-Sep-2018550.9 M

Gray Television Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

346.3m508.1m597.4m812.5m882.7m

Revenue growth, %

47%18%36%

Depreciation and amortization

336.0k12.0m16.6m25.1m

EBIT

83.9m153.8m140.1m234.1m291.2m

EBIT margin, %

24%30%23%29%33%

Interest expense

52.4m68.9m74.4m97.2m95.3m

Pre tax profit

31.4m79.8m65.7m105.7m193.3m

Income tax expense

13.1m31.7m26.4m43.4m(68.7m)

Net Income

18.3m48.1m

Gray Television Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

13.5m30.8m97.3m325.2m462.4m

Accounts Receivable

Inventories

Current Assets

130.6m168.3m285.5m536.3m666.8m

PP&E

143.6m221.8m234.5m326.1m350.7m

Goodwill

184.4m374.4m423.2m485.3m611.1m

Total Assets

1.3b1.9b2.1b2.8b3.3b

Accounts Payable

2.3m4.6m4.5m5.3m

Short-term debt

224.0k224.0k

Current Liabilities

63.1m80.0m87.6m119.4m

Long-term debt

Total Debt

224.0k

Total Liabilities

1.2b1.7b2.3b

Common Stock

483.1m486.3m19.3m658.1m

Retained Earnings

(251.0m)(202.9m)(163.6m)(101.4m)

Total Equity

429.3m492.9m

Financial Leverage

5 x5.6 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

43.3m27.0m66.1m79.8m224.6m222.2m81.2m120.7m176.3m230.4m23.5m42.4m172.9m443.4m510.6m550.9m

Current Assets

130.9m147.1m199.0m233.7m355.8m360.4m228.1m323.2m397.4m467.6m212.2m329.4m379.6m649.6m722.4m762.0m

PP&E

135.3m139.6m191.4m217.1m213.8m210.2m229.4m322.8m320.7m328.6m340.0m346.5m352.0m343.2m343.0m343.8m

Goodwill

170.5m184.4m320.1m372.0m375.0m375.0m398.2m484.7m485.6m485.6m571.7m610.5m611.1m611.1m611.1m614.2m

Total Assets

1.3b1.3b1.7b1.9b2.0b2.0b2.1b2.6b2.6b2.7b2.8b3.0b3.0b3.2b3.3b3.3b

Accounts Payable

1.5m3.2m2.8m5.3m6.0m3.2m4.4m6.1m3.4m5.5m3.4m2.7m4.0m3.1m6.1m5.9m

Short-term debt

203.0k5.5m6.5m4.3m5.6m6.4m6.4m6.4m37.0m

Current Liabilities

54.6m70.4m69.6m113.7m79.0m55.4m91.7m92.1m74.0m97.6m92.6m99.2m115.9m100.6m154.2m120.5m

Long-term debt

833.1m1.2b1.6b1.7b1.8b1.8b

Total Debt

833.1m203.0k5.5m6.5m1.2b1.6b1.7b5.6m1.8b1.8b6.4m37.0m

Total Liabilities

1.1b1.2b1.5b1.7b1.7b1.6b1.7b2.1b2.2b2.3b2.3b2.4b2.4b2.2b2.3b2.2b

Common Stock

482.8m484.5m485.1m485.7m654.4m654.6m18.7m19.9m20.5m21.1m658.9m659.6m660.4m904.2m904.9m906.0m

Retained Earnings

(256.2m)(249.7m)(248.1m)(234.2m)(197.3m)(185.2m)(178.6m)(154.6m)(137.0m)(137.2m)(89.8m)(19.2m)(3.9m)181.6m222.3m284.2m

Total Equity

409.7m417.2m438.1m457.0m458.1m504.1m572.1m588.9m991.0m1.0b1.1b

Debt to Equity Ratio

3.7 x0 x3.2 x0 x0 x

Debt to Assets Ratio

0.6 x0 x0 x0 x0.6 x0 x0.6 x0 x0 x

Financial Leverage

5 x5 x5.8 x5.8 x5.9 x5.5 x5.2 x5.1 x3.3 x3.2 x3 x

Gray Television Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

18.3m48.1m39.3m62.3m262.0m

Depreciation and Amortization

24.4m8.3m48.7m62.5m77.0m

Accounts Receivable

(7.4m)(17.0m)(14.8m)(6.1m)(23.7m)

Inventories

Accounts Payable

133.0k2.2m(141.0k)518.0k2.1m

Cash From Operating Activities

60.2m134.2m105.6m206.6m180.0m

Purchases of PP&E

(24.1m)(32.2m)(24.2m)(43.6m)(34.5m)

Cash From Investing Activities

(60.5m)(501.9m)(206.4m)(479.3m)(349.8m)

Cash From Financing Activities

2.7m385.0m167.3m500.6m307.0m

Gray Television Ratios

USDY, 2018

Financial Leverage

3 x
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Gray Television Operating Metrics

Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017

ABC Network Affiliates

9 14 16 16 16 16 19 19 19 19 19 20

CBS Network Affiliates

24 27 26 26 26 30 35 35 35 36 36 37

FOX Network Affiliates

5 10 10 10 10 13 14 13 13 14 14 15

NBC Network Affiliates

14 24 24 24 24 22 26 26 26 27 27 29

Secondary Channels

60 80 100

Separate Programming Streams

110 139 139 140 140 150 175 180 180 185 190 200 200

Television Markets

34 42 44 44 44 45 50 50 50 51 51 57 54
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Gray Television Employee Rating

2.990 votes
Culture & Values
3.1
Work/Life Balance
3.0
Senior Management
2.9
Salary & Benefits
2.7
Career Opportunities
3.5
Source