TEGNA (NYSE:TGNA) - Share price, News & Analysis

TGNA fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	1/6
Past Performance	2/6
Financial Health	4/6
Dividends	4/6

TGNA Stock Overview

TEGNA Inc. operates as a media company in the United States.

Rewards

Trading at 63.6% below our estimate of its fair value

Earnings are forecast to grow 8.02% per year

Risk Analysis

Has a high level of debt

Unstable dividend track record

TEGNA Competitors

Nexstar Media Group

NasdaqGS:NXST

US$6.5b

Gray Television

NYSE:GTN

US$1.8b

Sinclair Broadcast Group

NasdaqGS:SBGI

US$1.5b

E.W. Scripps

NasdaqGS:SSP

US$1.2b

Price History & Performance

Summary of all time highs, changes and price drops for TEGNA
Historical stock prices
Current Share Price	US$21.19
52 Week High	US$23.04
52 Week Low	US$16.42
Beta	0.90
1 Month Change	-5.86%
3 Month Change	-4.98%
1 Year Change	10.42%
3 Year Change	35.66%
5 Year Change	-11.34%
Change since IPO	-3.13%

Shareholder Returns

	TGNA	US Media	US Market
7D	-0.7%	-1.5%	-4.0%
1Y	10.4%	-26.1%	-13.2%

Return vs Industry: TGNA exceeded the US Media industry which returned -25.7% over the past year.

Return vs Market: TGNA exceeded the US Market which returned -12.3% over the past year.

Price Volatility

Is TGNA's price volatile compared to industry and market?
TGNA volatility
TGNA Average Weekly Movement	2.0%
Media Industry Average Movement	8.4%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: TGNA is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: TGNA's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1906	6,200	Dave Lougee	https://www.tegna.com

TEGNA Inc. operates as a media company in the United States. The company operates television stations that deliver television programming and digital content. It offers news content to consumers across various platforms, including online, mobile, and social platforms; owns and operates multicast networks under the names True Crime Network, Quest, and Twist that offer on-demand episodes of shows; and operates VAULT Studios, which provides true crime and investigative content in the form of podcasts and original television programs.

TEGNA Fundamentals Summary

How do TEGNA's earnings and revenue compare to its market cap?
TGNA fundamental statistics
Market Cap	US$4.72b
Earnings (TTM)	US$498.44m
Revenue (TTM)	US$3.04b

9.5x

P/E Ratio

1.6x

P/S Ratio

Is TGNA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TGNA income statement (TTM)
Revenue	US$3.04b
Cost of Revenue	US$1.62b
Gross Profit	US$1.42b
Other Expenses	US$924.21m
Earnings	US$498.44m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	2.24
Gross Margin	46.83%
Net Profit Margin	16.41%
Debt/Equity Ratio	116.4%

How did TGNA perform over the long term?

See historical performance and comparison

Dividends

1.8%

Current Dividend Yield

17%

Payout Ratio

Does TGNA pay a reliable dividends?

See TGNA dividend history and benchmarks

When do you need to buy TGNA by to receive an upcoming dividend?
TEGNA dividend dates
Ex Dividend Date	Jun 02 2022
Dividend Pay Date	Jul 01 2022
Days until Ex dividend	7 days
Days until Dividend pay date	36 days

Does TGNA pay a reliable dividends?

See TGNA dividend history and benchmarks

Valuation

Is TEGNA undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TGNA ($21.19) is trading below our estimate of fair value ($58.22)

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

Price To Earnings Ratio

PE vs Industry: TGNA is good value based on its Price-To-Earnings Ratio (9.5x) compared to the US Media industry average (15x).

PE vs Market: TGNA is good value based on its Price-To-Earnings Ratio (9.5x) compared to the US market (15.1x).

Price to Earnings Growth Ratio

PEG Ratio: TGNA is poor value based on its PEG Ratio (1.2x)

Price to Book Ratio

PB vs Industry: TGNA is overvalued based on its Price-To-Book Ratio (1.8x) compared to the US Media industry average (1.7x).

Future Growth

How is TEGNA forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

8.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TGNA's forecast earnings growth (8% per year) is above the savings rate (1.9%).

Earnings vs Market: TGNA's earnings (8% per year) are forecast to grow slower than the US market (12.3% per year).

High Growth Earnings: TGNA's earnings are forecast to grow, but not significantly.

Revenue vs Market: TGNA's revenue (5.6% per year) is forecast to grow slower than the US market (7.8% per year).

High Growth Revenue: TGNA's revenue (5.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if TGNA's Return on Equity is forecast to be high in 3 years time

Past Performance

How has TEGNA performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

7.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TGNA has high quality earnings.

Growing Profit Margin: TGNA's current net profit margins (16.4%) are lower than last year (17%).

Past Earnings Growth Analysis

Earnings Trend: TGNA's earnings have grown by 7.9% per year over the past 5 years.

Accelerating Growth: TGNA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TGNA had negative earnings growth (-1.9%) over the past year, making it difficult to compare to the Media industry average (22.7%).

Return on Equity

High ROE: TGNA's Return on Equity (19%) is considered low.

Financial Health

How is TEGNA's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: TGNA's short term assets ($768.8M) exceed its short term liabilities ($379.8M).

Long Term Liabilities: TGNA's short term assets ($768.8M) do not cover its long term liabilities ($3.8B).

Debt to Equity History and Analysis

Debt Level: TGNA's net debt to equity ratio (114.7%) is considered high.

Reducing Debt: TGNA's debt to equity ratio has reduced from 152% to 116.4% over the past 5 years.

Debt Coverage: TGNA's debt is well covered by operating cash flow (20.9%).

Interest Coverage: TGNA's interest payments on its debt are well covered by EBIT (4.6x coverage).

Balance Sheet

Dividend

What is TEGNA current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.79%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: TGNA's dividend (1.79%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: TGNA's dividend (1.79%) is low compared to the top 25% of dividend payers in the US market (4.05%).

Stability and Growth of Payments

Stable Dividend: TGNA's dividend payments have been volatile in the past 10 years.

Growing Dividend: TGNA's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (16.9%), TGNA's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (14.5%), TGNA's dividend payments are thoroughly covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.1yrs

Average management tenure

CEO

Dave Lougee (62 yo)

4.92yrs

Tenure

US$6,958,477

Compensation

Mr. David T. Lougee, also known as Dave, has been the Chief Executive Officer, Director and President of TEGNA Inc. since June 1, 2017. Mr. Lougee has been the President of Gannett Broadcasting, Inc. (Broa...

CEO Compensation Analysis

Compensation vs Market: Dave's total compensation ($USD6.96M) is about average for companies of similar size in the US market ($USD6.83M).

Compensation vs Earnings: Dave's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: TGNA's management team is seasoned and experienced (5.1 years average tenure).

Board Members

Experienced Board: TGNA's board of directors are considered experienced (7 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31