Gray Media annual debt-to-equity ratio
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2025
Gray Media Debt-to-Equity Ratio Growth & History (GTN)
Gray Media's debt-to-equity ratio was 2.70 for fiscal 2025.
View full Gray Media company overviewGray Media annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 2.70 | 0.20 | +8.17% |
| 2024 | 2024-12-31 | 2.49 | −0.67 | −21.23% |
| 2023 | 2023-12-31 | 3.17 | 0.08 | +2.54% |
| 2022 | 2022-12-31 | 3.09 | −0.80 | −20.54% |
| 2021 | 2021-12-31 | 3.89 | 1.59 | +68.93% |
| 2020 | 2020-12-31 | 2.30 | −0.26 | −10.16% |
| 2019 | 2019-12-31 | 2.56 | 0.41 | +19.22% |
| 2018 | 2018-12-31 | 2.15 | 0.30 | +16.17% |
| 2017 | 2017-12-31 | 1.85 | −1.71 | −48.12% |
| 2016 | 2016-12-31 | 3.56 | 0.72 | +25.37% |
| 2015 | 2015-12-31 | 2.84 | −2.88 | −50.30% |
| 2014 | 2014-12-31 | 5.72 | 0.88 | +18.07% |
| 2013 | 2013-12-31 | 4.84 | −0.94 | −16.29% |
| 2012 | 2012-12-31 | 5.79 | −0.98 | −14.51% |
| 2011 | 2011-12-31 | 6.77 | 0.38 | +5.95% |
| 2010 | 2010-12-31 | 6.39 | — | — |
Gray Media quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 2.77 | 0.17 | +6.55% |
| Q1 2026 | 2026-03-31 | 2.75 | 0.23 | +9.13% |
| Q4 2025 | 2025-12-31 | 2.70 | 0.20 | +8.17% |
| Q3 2025 | 2025-09-30 | 2.63 | −0.17 | −6.00% |
| Q2 2025 | 2025-06-30 | 2.60 | — | — |
| Q1 2025 | 2025-03-31 | 2.52 | −0.52 | −17.04% |
| Q4 2024 | 2024-12-31 | 2.49 | −0.67 | −21.23% |
| Q3 2024 | 2024-09-30 | 2.80 | −0.33 | −10.54% |
| Q1 2024 | 2024-03-31 | 3.04 | 0.01 | +0.28% |
| Q4 2023 | 2023-12-31 | 3.17 | 0.08 | +2.54% |
| Q3 2023 | 2023-09-30 | 3.13 | −0.33 | −9.46% |
| Q2 2023 | 2023-06-30 | 3.06 | −0.63 | −17.14% |
| Q1 2023 | 2023-03-31 | 3.03 | −0.75 | −19.94% |
| Q4 2022 | 2022-12-31 | 3.09 | −0.80 | −20.54% |
| Q3 2022 | 2022-09-30 | 3.46 | 1.16 | +50.80% |
| Q2 2022 | 2022-06-30 | 3.69 | 1.44 | +64.13% |
| Q1 2022 | 2022-03-31 | 3.78 | 1.51 | +66.41% |
| Q4 2021 | 2021-12-31 | 3.89 | 1.59 | +68.93% |
| Q3 2021 | 2021-09-30 | 2.29 | −0.12 | −4.93% |
| Q2 2021 | 2021-06-30 | 2.25 | −0.34 | −12.98% |
| Q1 2021 | 2021-03-31 | 2.27 | −0.23 | −9.21% |
| Q4 2020 | 2020-12-31 | 2.30 | −0.26 | −10.16% |
| Q3 2020 | 2020-09-30 | 2.41 | −0.40 | −14.32% |
| Q2 2020 | 2020-06-30 | 2.58 | −0.33 | −11.19% |
| Q1 2020 | 2020-03-31 | 2.51 | −0.48 | −16.11% |
| Q4 2019 | 2019-12-31 | 2.56 | 0.41 | +19.22% |
| Q3 2019 | 2019-09-30 | 2.81 | 1.17 | +71.36% |
| Q2 2019 | 2019-06-30 | 2.91 | 1.13 | +63.53% |
| Q1 2019 | 2019-03-31 | 2.99 | 1.13 | +61.12% |
| Q4 2018 | 2018-12-31 | 2.15 | 0.30 | +16.17% |
| Q3 2018 | 2018-09-30 | 1.64 | −1.48 | −47.37% |
| Q2 2018 | 2018-06-30 | 1.78 | −1.44 | −44.69% |
| Q1 2018 | 2018-03-31 | 1.85 | −1.63 | −46.74% |
| Q4 2017 | 2017-12-31 | 1.85 | −1.71 | −48.12% |
| Q3 2017 | 2017-09-30 | 3.12 | −0.71 | −18.56% |
| Q2 2017 | 2017-06-30 | 3.21 | −0.52 | −13.86% |
| Q1 2017 | 2017-03-31 | 3.48 | −0.25 | −6.81% |
| Q4 2016 | 2016-12-31 | 3.56 | 0.72 | +25.37% |
| Q3 2016 | 2016-09-30 | 3.83 | 0.87 | +29.40% |
| Q2 2016 | 2016-06-30 | 3.73 | 0.71 | +23.68% |
| Q1 2016 | 2016-03-31 | 3.73 | 0.56 | +17.59% |
| Q4 2015 | 2015-12-31 | 2.84 | −2.88 | −50.30% |
| Q3 2015 | 2015-09-30 | 2.96 | −3.75 | −55.89% |
| Q2 2015 | 2015-06-30 | 3.02 | −3.71 | −55.14% |
| Q1 2015 | 2015-03-31 | 3.18 | −1.58 | −33.25% |
| Q4 2014 | 2014-12-31 | 5.72 | 0.88 | +18.07% |
| Q3 2014 | 2014-09-30 | 6.71 | 1.47 | +27.98% |
| Q2 2014 | 2014-06-30 | 6.73 | 1.23 | +22.35% |
| Q1 2014 | 2014-03-31 | 4.76 | −0.99 | −17.17% |
| Q4 2013 | 2013-12-31 | 4.84 | −0.94 | −16.29% |
| Q3 2013 | 2013-09-30 | 5.25 | −0.23 | −4.14% |
| Q2 2013 | 2013-06-30 | 5.50 | −0.58 | −9.58% |
| Q1 2013 | 2013-03-31 | 5.74 | −0.83 | −12.57% |
| Q4 2012 | 2012-12-31 | 5.79 | −0.98 | −14.51% |
| Q3 2012 | 2012-09-30 | 5.47 | −1.10 | −16.68% |
| Q2 2012 | 2012-06-30 | 6.08 | −0.50 | −7.60% |
| Q1 2012 | 2012-03-31 | 6.57 | — | — |
| Q4 2011 | 2011-12-31 | 6.77 | 0.38 | +5.95% |
| Q3 2011 | 2011-09-30 | 6.57 | — | — |
| Q2 2011 | 2011-06-30 | 6.58 | — | — |
| Q4 2010 | 2010-12-31 | 6.39 | — | — |
Gray Media debt-to-equity ratio trends
Over the last five fiscal years, Gray Media's debt-to-equity ratio increased from 2.30 to 2.70, a change of 0.40. The latest reported quarter, Q2 2026, shows 2.77.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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