Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
GTNGray Media, Inc
The four financial statements
Every company that sells shares in the US files four statements with the SEC. Together they show whether Gray Media made money, what it owns and owes, where its cash went, and what changed for its shareholders. Below is every line exactly as Gray Media filed it, with what each one means in plain English.
As filed with the SEC on Feb 26, 2026 · the full report · SEC's figures viewer
Income statement · also called the statement of operations, statement of earnings or profit and loss
Did it make money?
Read it from the top down. It starts with everything customers paid (sales), takes away the cost of making what was sold, then the costs of running the company, then interest and tax. What is left at the bottom is profit (net income), the part that belongs to shareholders. It covers a stretch of time: a year, or a quarter.
- People usually check: Are sales growing compared with a year earlier?
- People usually check: How much of each dollar of sales is left at each step (the margins)?
- People usually check: Is profit growing faster or slower than sales?
Point at or tap a bar to see the lines inside it.
Out of every $100 of sales
- costs of running the business: $87
- other income and costs: $16
- income tax: $1 added
- kept as profit: $2.7
Every line, explained
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| Revenue (less agency commissions) | |||
| $3.1B▼ 15% | $3.6B | $3.3B | |
| Operating expenses before depreciation, amortization, impairment and (gain) loss on disposals of assets, net | |||
| $133.0M▼ 7.6% | $144.0M | $145.0M | |
| $104.0M▼ 17% | $125.0M | $194.0M | |
| $30.0M | $0 | $43.0M | |
| −$11.0M | $20.0M | $21.0M | |
| $2.7B▼ 3.2% | $2.8B | $2.9B | |
| $392.0M▼ 54% | $851.0M | $383.0M | |
| Other (expense) income | |||
| −$1.0M | $117.0M | $7.0M | |
| −$20.0M▲ 20% | −$25.0M | −$29.0M | |
| −$474.0M▲ 2.3% | −$485.0M | −$440.0M | |
| −$10.0M | $34.0M | −$3.0M | |
| −$113.0M | $492.0M | −$82.0M | |
| −$28.0M | $117.0M | −$6.0M | |
| −$85.0M | $375.0M | −$76.0M | |
| $52.0M | $52.0M | $52.0M | |
| −$137.0M | $323.0M | −$128.0M | |
| Basic per share information | |||
| −$1.41 | $3.40 | −$1.39 | |
| 97.0M shares▲ 2.1% | 95.0M shares | 92.0M shares | |
| Diluted per share information | |||
| −$1.41 | $3.36 | −$1.39 | |
| 97.0M shares▲ 1.0% | 96.0M shares | 92.0M shares | |
| $0.32 | $0.32 | $0.32 | |
Split by Broadcasting, Segment, Production Companies, Segment, Other Operating Segment
| Broadcasting, Segment | |||
|---|---|---|---|
| Sales (Revenue (less agency commissions)) | $3.0B | $3.5B | $3.2B |
| Cost of making what it sold (Cost of goods and services sold) | $2.2B | $2.3B | $2.3B |
| Production Companies, Segment | |||
| Sales (Revenue (less agency commissions)) | $107.0M | $105.0M | $86.0M |
| Cost of making what it sold (Cost of goods and services sold) | $95.0M | $83.0M | $115.0M |
| Other Operating Segment | |||
| Sales (Revenue (less agency commissions)) | $0 | $0 | $0 |
| Running the company (general and administrative) (Corporate and administrative) | $113.0M | $104.0M | $112.0M |
| Write-down (impairment) (Impairment of goodwill, broadcast licenses and other intangible assets) | – | – | $0 |
| Profit from the main business (operating income) (Operating income) | −$115.0M | −$106.0M | −$116.0M |
| Interest paid on debt (Interest expense) | – | −$485.0M | – |
| Gains or losses ((Loss) gain from early extinguishment of debt) | – | – | −$3.0M |
Every line as the company filed it (USD ($), $ in Thousands, shares in Millions), shown in full dollars. See this statement on SEC.
Extra: What other gains and losses were there?Statement of comprehensive income: Profit, plus gains and losses that skip the income statement.
Some value changes don't count as profit yet: currency moves on businesses abroad, rises or falls in investments it hasn't sold, and some hedges and pension changes. They are added to profit here to give comprehensive income, and they build up in shareholders' equity.
Every line, explained
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| −$85.0M | $375.0M | −$76.0M | |
| Other comprehensive (loss) income | |||
| $4.0M | −$1.0M | $7.0M | |
| $31.0M | −$8.0M | −$23.0M | |
| $9.0M | −$2.0M | −$5.0M | |
| $26.0M | −$7.0M | −$11.0M | |
| −$59.0M | $368.0M | −$87.0M | |