Gray Media (GTN) Operating Expenses (2010 - 2026)
Gray Media (GTN) recorded Operating Expenses of $703 million in Q2 2026, up 1.9% from $690 million a year earlier and up 2.3% from the prior quarter.
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Analysis
Gray Media (GTN) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Gray Media's Operating Expenses came in at $2.71 billion as of Jun 30, 2026, down 3.1% year-over-year; for FY2025, it was $2.7 billion, down 3.2% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 10.7% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $2.79 billion in FY2024 (-3.6%), $2.9 billion in FY2023 (+7.9%), $2.69 billion in FY2022 (+32.2%) and $2.03 billion in FY2021 (+24.7%).
- The Q2 2026 figure is the highest quarterly Operating Expenses since Q4 2024.
- On a year-over-year basis, Operating Expenses rose in two of the last eight quarters, with an average decline of 2.2%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 49.7% in Q1 2022, against a decline of 7.6% in Q3 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $687 million (Q1 2026), $676 million (Q4 2025) and $647 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Warner Bros. Discovery | 77.70 Bn | 63.36 Bn | 4.10 Bn | 8.48 Bn |
| 2 | Fox | 28.87 Bn | 14.68 Bn | - | 2.38 Bn |
| 3 | Omnicom | 22.69 Bn | 4.78 Bn | 1.30 Bn | 5.64 Bn |
| 4 | News | 17.02 Bn | 8.51 Bn | - | 991.00 Mn |
| 5 | Pearson | 11.88 Bn | 8.99 Bn | - | - |
| 6 | New York Times | 11.24 Bn | 8.72 Bn | 394.61 Mn | 644.44 Mn |
| 7 | Sirius Xm Holdings | 9.17 Bn | 8.75 Bn | 1.44 Bn | 1.69 Bn |
| 8 | Skydance | 7.82 Bn | 5.74 Bn | - | - |
| 9 | Wpp | 5.72 Bn | -6.32 Bn | - | - |
| 10 | Gray Media | 454.23 Mn | -530.77 Mn | 248.00 Mn | 703.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 703.00 Mn |
| Mar 31, 2026 | 687.00 Mn |
| Dec 31, 2025 | 676.00 Mn |
| Sep 30, 2025 | 647.00 Mn |
| Jun 30, 2025 | 690.00 Mn |
| Mar 31, 2025 | 690.00 Mn |
| Dec 31, 2024 | 720.00 Mn |
| Sep 30, 2024 | 700.00 Mn |
| Jun 30, 2024 | 674.00 Mn |
| Mar 31, 2024 | 699.00 Mn |
| Dec 31, 2023 | 751.00 Mn |
| Sep 30, 2023 | 719.00 Mn |
| Jun 30, 2023 | 694.00 Mn |
| Mar 31, 2023 | 734.00 Mn |
| Dec 31, 2022 | 709.00 Mn |
| Sep 30, 2022 | 664.00 Mn |
| Jun 30, 2022 | 650.00 Mn |
| Mar 31, 2022 | 663.00 Mn |
| Dec 31, 2021 | 616.00 Mn |
| Sep 30, 2021 | 534.00 Mn |
API Access
Gray Media Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=GTN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "GTN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=GTN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();