The New York Times Company (NYT) Financials

$3.8 B

Mkt cap, 25-May-2018

$385.6 M

Revenue Q3, 2017
Gross profit (Q3, 2017)235.7 M
Gross profit margin (Q3, 2017), %61.1%
Net income (Q3, 2017)32.3 M
EBIT (Q3, 2017)33 M
Cash, 24-Sep-2017244.7 M
EV3.9 B

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

1.6 b1.6 b1.6 b

Revenue growth, %

1%(1%)(2%)

Cost of goods sold

644 m617.8 m628.1 m

Gross profit

944.5 m961.4 m927.2 m

Gross profit Margin, %

59%61%60%

General and administrative expense

761.1 m713.8 m721.1 m

Operating expense total

1.5 b1.4 b1.4 b

Depreciation and amortization

79.5 m61.6 m61.7 m

EBIT

100.3 m137.4 m101.6 m

EBIT margin, %

6%9%7%

Interest expense

53.7 m61.6 m34.8 m

Pre tax profit

29.9 m96.8 m30.5 m

Income tax expense

(3.5 m)33.9 m4.4 m

Net Income

32.3 m62.8 m23.8 m

Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016

Cash

176.6 m105.8 m100.7 m

Accounts Receivable

212.7 m207.2 m197.4 m

Prepaid Expenses

25.6 m19.4 m15.9 m

Current Assets

1.1 b862.5 m796.2 m

PP&E

665.8 m632.4 m596.7 m

Goodwill

116.4 m109.1 m134.5 m

Total Assets

2.6 b2.4 b2.2 b

Accounts Payable

94.4 m96.1 m104.5 m

Short-term debt

223.7 m188.4 m

Current Liabilities

600.5 m563.6 m398.7 m

Long-term debt

426.5 m242.9 m247 m

Non-Current Liabilities

1.2 b1 b942.4 m

Total Debt

650.1 m431.2 m247 m

Total Liabilities

1.8 b1.6 b1.3 b

Additional Paid-in Capital

39.2 m146.3 m149.9 m

Retained Earnings

1.3 b1.3 b1.3 b

Total Equity

728.3 m828.5 m844.2 m

EPS

0.2 0.4 0.2

Debt to Equity Ratio

0.9 x0.5 x0.3 x

Debt to Assets Ratio

0.3 x0.2 x0.1 x

Financial Leverage

3.5 x2.9 x2.6 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

266.2 m155 m144.6 m185.7 m400.1 m156.9 m151 m204.1 m244.7 m

Accounts Receivable

165.9 m154.6 m157.6 m170 m150 m152.6 m176.9 m149.6 m142.3 m

Prepaid Expenses

26.2 m23.5 m22 m21.5 m15.2 m14.1 m16.8 m13.5 m17.9 m

Current Assets

94.4 m922.7 m914.1 m846.1 m939.1 m962.8 m767.9 m775.4 m767.8 m

PP&E

656.1 m646.1 m638.8 m621.7 m611.1 m602.1 m588.5 m595.1 m618.8 m

Goodwill

108.6 m110.3 m110.5 m110.3 m119.8 m122.9 m136.4 m138.8 m143.2 m

Total Assets

2.4 b2.4 b2.3 b2.3 b2.3 b2.4 b2.2 b2.2 b2.2 b

Accounts Payable

86.4 m82 m83.5 m85.9 m75.3 m92.5 m101.9 m94.3 m116.7 m

Short-term debt

188.6 m188.8 m189 m

Current Liabilities

307.4 m310.4 m323.8 m513.1 m526.2 m572.8 m387.8 m398.5 m418.7 m

Long-term debt

427.7 m428.8 m430 m243.9 m244.9 m245.9 m247.8 m248.6 m249.4 m

Non-Current Liabilities

1.2 b1.2 b1.2 b1 b1 b990.9 m925.4 m912.7 m901.6 m

Total Debt

427.7 m428.8 m430 m432.5 m433.7 m434.9 m247.8 m248.6 m249.4 m

Total Liabilities

1.5 b1.5 b1.5 b1.5 b1.5 b1.6 b1.3 b1.3 b1.3 b

Additional Paid-in Capital

139.3 m142.7 m146.1 m140.9 m143.5 m146 m150.4 m155.9 m159.8 m

Retained Earnings

1.3 b1.3 b1.3 b1.3 b1.3 b1.3 b1.3 b1.4 b1.4 b

Total Equity

829.7 m843.9 m818.5 m793.1 m799.2 m793.2 m857 m884 m918.7 m

EPS

(0.1 )0.1 0.1 (0.1 )0.1 0.1 0.2

Debt to Equity Ratio

0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.3 x0.3 x0.3 x

Debt to Assets Ratio

0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.1 x0.1 x0.1 x

Financial Leverage

2.8 x2.8 x2.9 x2.9 x2.9 x3 x2.5 x2.5 x2.4 x

Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

32.3 m62.8 m23.8 m

Depreciation and Amortization

79.5 m61.6 m61.7 m

Accounts Receivable

(10.2 m)5.5 m9.8 m

Accounts Payable

(33.9 m)(22.8 m)(32.3 m)

Cash From Operating Activities

80.5 m175.3 m94.2 m

Long-term Borrowings

(38.9 m)(223.6 m)(189.8 m)

Dividends Paid

(24.9 m)(26.6 m)(25.9 m)

Cash From Financing Activities

(61.4 m)(214.2 m)(227.4 m)

Net Change in Cash

(305.6 m)(69.6 m)(4.9 m)

Interest Paid

54.3 m41.4 m39.5 m

Income Taxes Paid

21.3 m21.1 m44.9 m

Free Cash Flow

45.1 m148.4 m64.2 m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

(14.4 m)1.8 m11.2 m(13.6 m)(14.1 m)(13.8 m)13.1 m28.7 m64.7 m

Depreciation and Amortization

14.8 m30.7 m46 m15.5 m30.6 m46 m16.2 m31.3 m47 m

Accounts Receivable

46.8 m58.1 m55.1 m37.2 m57.2 m54.6 m20.4 m47.8 m55 m

Accounts Payable

(98.5 m)(87.6 m)(76.6 m)(94.4 m)(78.6 m)(45.5 m)(35 m)(20.4 m)12.5 m

Cash From Operating Activities

11.1 m65.7 m108 m(20.7 m)31.5 m76.1 m30.1 m99.5 m147.9 m

Cash From Investing Activities

211.5 m57.4 m45.4 m122.8 m291.6 m10.2 m29.8 m18.1 m15.6 m

Long-term Borrowings

(223.7 m)(223.7 m)(223.7 m)(138 k)(322 k)(460 k)(138 k)(276 k)(414 k)

Dividends Paid

(6.7 m)(13.4 m)(20.1 m)(6.5 m)(12.9 m)(19.4 m)(6.5 m)(13 m)(19.5 m)

Cash From Financing Activities

(131.7 m)(143.7 m)(184.5 m)22.3 m(28.9 m)(35.3 m)(9.9 m)(14.3 m)(19.7 m)

Net Change in Cash

90.9 m(20.6 m)(31 m)79.8 m294.2 m51 m50.1 m103.2 m143.8 m

Free Cash Flow

2.3 m51.2 m86.9 m(31.2 m)16.9 m54.3 m22.1 m78.1 m100.1 m

Ratios

USDY, 2017

EV/EBIT

116.8 x

EV/CFO

26.1 x

EV/FCF

38.5 x

Revenue/Employee

103.9 k

Debt/Equity

0.3 x

Debt/Assets

0.1 x

Financial Leverage

2.4 x

P/E Ratio

116.8
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Operating Metrics

The New York Times Company's Monthly Unique Visitors was reported to be 136 m in FY, 2017. The New York Times Company's Paying Subscribers was reported to be 3.6 m in Apr, 2018.
FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016FY, 2016Q1, 2017Apr, 2017Q2, 2017Q3, 2017Dec, 2017Q4, 2017FY, 2017Feb, 2018Apr, 2018

Digital News Subscribers

910 k960 k990 k1.04 m1.09 m1.09 m1.16 m1.21 m1.33 m1.61 m1.61 m1.92 m2.03 m2.13 m2.23 m

Net Addition in Digital News Subscribers

50 k30 k50 k50 k70 k50 k120 k280 k310 k110 k157 k

Monthly Unique Visitors (US)

31 m62 m85 m97 m

Monthly Unique Visitors

42 m122 m136 m

Daily Newspaper's Circulation

648.90 k603.70 k571.50 k540 k

Sunday Newspaper's Circulation

1.19 m1.13 m1.09 m1.07 m

Daily Stories

230

Digital Page Views

1.31 b

Mobile Monthly Unique Users (US)

28 m

Monthly Readers

130 m

Newsroom Staff

1.30 k

Paying Readers

2.20 m

Paying Subscribers

2 m2.90 m3.50 m3.60 m3.60 m
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