Gray Television, Inc.

NYSE:GTN Stock Report

Market Cap: US$335.3m

Gray Television Valuation

Is GTN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GTN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GTN ($3.27) is trading below our estimate of fair value ($9.02)

Significantly Below Fair Value: GTN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GTN?

Key metric: As GTN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GTN. This is calculated by dividing GTN's market cap by their current earnings.
What is GTN's PE Ratio?
PE Ratio2.2x
EarningsUS$145.00m
Market CapUS$335.34m

Price to Earnings Ratio vs Peers

How does GTN's PE Ratio compare to its peers?

The above table shows the PE ratio for GTN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.5x
AMCX AMC Networks
11.4x19.7%US$429.7m
SGA Saga Communications
16.3x-17.5%US$75.9m
TGNA TEGNA
5.7x-13.6%US$2.9b
NXST Nexstar Media Group
8.5x4.7%US$5.0b
GTN Gray Television
2.2x-28.2%US$335.3m

Price-To-Earnings vs Peers: GTN is good value based on its Price-To-Earnings Ratio (2.2x) compared to the peer average (10.5x).

Price to Earnings Ratio vs Industry

How does GTN's PE Ratio compare vs other companies in the US Media Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.14.2x14.0%
GTN Gray Television
 2.2x-28.2%US$335.34m
DISH DISH Network
2.5x-71.9%US$3.08b
SGRP SPAR Group
3.4x-89.1%US$42.04m
GTN 2.2xIndustry Avg. 14.2xNo. of Companies9PE01632486480+
9 CompaniesEstimated GrowthMarket Cap
Industry Avg.14.2x14.0%
GTN Gray Television
 2.2x-28.2%US$335.34m
No more companies

Price-To-Earnings vs Industry: GTN is good value based on its Price-To-Earnings Ratio (2.2x) compared to the US Media industry average (14.7x).

Price to Earnings Ratio vs Fair Ratio

What is GTN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GTN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.2x
Fair PE Ratio9.1x

Price-To-Earnings vs Fair Ratio: GTN is good value based on its Price-To-Earnings Ratio (2.2x) compared to the estimated Fair Price-To-Earnings Ratio (9.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GTN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$3.27
US$5.80
+77.4%
41.4%US$8.00US$2.00n/a5
Dec ’25US$4.27
US$8.17
+91.3%
70.1%US$20.00US$2.00n/a6
Nov ’25US$5.79
US$9.00
+55.4%
66.7%US$20.00US$1.00n/a6
Oct ’25US$5.39
US$9.00
+67.0%
66.7%US$20.00US$1.00n/a6
Sep ’25US$5.10
US$9.00
+76.5%
66.7%US$20.00US$1.00n/a6
Aug ’25US$6.08
US$10.83
+78.2%
47.8%US$20.00US$4.00n/a6
Jul ’25US$5.18
US$10.83
+109.1%
47.8%US$20.00US$4.00n/a6
Jun ’25US$6.24
US$10.83
+73.6%
47.8%US$20.00US$4.00n/a6
May ’25US$6.00
US$10.42
+73.6%
49.6%US$20.00US$4.00n/a6
Apr ’25US$6.02
US$10.42
+73.0%
49.6%US$20.00US$4.00n/a6
Mar ’25US$5.72
US$10.58
+85.0%
47.0%US$20.00US$5.00n/a6
Feb ’25US$9.64
US$12.75
+32.3%
40.1%US$20.00US$5.00n/a8
Jan ’25US$8.96
US$12.88
+43.7%
40.4%US$20.00US$5.00n/a8
Dec ’24US$8.20
US$12.88
+57.0%
40.4%US$20.00US$5.00US$4.278
Nov ’24US$6.28
US$13.25
+111.0%
38.1%US$20.00US$5.00US$5.798
Oct ’24US$6.92
US$13.25
+91.5%
38.1%US$20.00US$5.00US$5.398
Sep ’24US$7.81
US$13.25
+69.7%
38.1%US$20.00US$5.00US$5.108
Aug ’24US$9.20
US$13.38
+45.4%
37.9%US$20.00US$5.00US$6.088
Jul ’24US$7.88
US$13.38
+69.7%
37.9%US$20.00US$5.00US$5.188
Jun ’24US$6.92
US$13.38
+93.3%
37.9%US$20.00US$5.00US$6.248
May ’24US$7.90
US$14.63
+85.1%
29.2%US$20.00US$7.00US$6.008
Apr ’24US$8.72
US$14.88
+70.6%
29.6%US$20.00US$7.00US$6.028
Mar ’24US$11.50
US$14.88
+29.3%
29.6%US$20.00US$7.00US$5.728
Feb ’24US$13.54
US$15.25
+12.6%
35.7%US$25.00US$7.00US$9.648
Jan ’24US$11.19
US$16.14
+44.3%
32.5%US$25.00US$7.00US$8.967
Dec ’23US$11.57
US$16.14
+39.5%
32.5%US$25.00US$7.00US$8.207

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 13:10
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Gray Television, Inc. is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
James GossBarrington Research Associates, Inc.
Daniel KurnosBenchmark Company
Barry LucasG. Research, LLC