Gray Media, Inc.
$5.77B- Market cap
- $434.19M
- Debt
- +$5.70B
- Cash
- −$368.00M
Capital structure 7% equity / 93% debt · EV / Revenue 1.86x · EV / EBITDA 10.82x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: GTN stock price at discount vs PNW $4.96 current versus $70.64 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at PNW's multiple
Implied fair value · at GTN's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: GTN FY 2025 (ended Dec 31, 2025) · PNW FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 7% equity / 93% debt · EV / Revenue 1.86x · EV / EBITDA 10.82x
Capital structure 55% equity / 45% debt · EV / Revenue 4.05x · EV / EBITDA 16.84x
PNW carries the larger enterprise value at $21.62B against $5.77B; GTN trades on the lower EV / Revenue multiple (1.86x vs 4.05x); GTN on the lower EV / EBITDA (10.82x vs 16.84x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Gray Media, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
PINNACLE WEST CAPITAL CORP · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
2.65x
1.39x
Net debt / EBITDA
Leverage against operating earnings
10.01x
7.63x
Cash and equivalents
Liquid reserves on the balance sheet
$368.00M
$6.60M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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