Gray Media, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-85.0M | $375.0M | $-76.0M | $455.0M | $90.0M | $410.0M | $179.0M | $211.0M |
| Depreciation & Amortization | $237.0M | $269.0M | $339.0M | $336.0M | $221.0M | $201.0M | $195.0M | $75.0M |
| Depreciation | $133.0M | $144.0M | $145.0M | $129.0M | $104.0M | $96.0M | $80.0M | $54.0M |
| Amortization | $104.0M | $125.0M | $194.0M | $207.0M | $117.0M | $105.0M | $115.0M | $21.0M |
| Stock-Based Compensation | $22.0M | $22.0M | $20.0M | $22.0M | $14.0M | $16.0M | $16.0M | $7.0M |
| Net Cash from Operating Activities | $289.0M | $751.0M | $648.0M | $829.0M | $300.0M | $652.0M | $385.0M | $323.0M |
| Investing Activities | ||||||||
| Capital Expenditures | $108.0M | $143.0M | $348.0M | $436.0M | $207.0M | $110.0M | $110.0M | $70.0M |
| Business Acquisitions | $0 | $1.0M | $6.0M | $58.0M | $3.77B | $91.0M | $2.84B | $0 |
| Net Cash from Investing Activities | $-63.0M | $-28.0M | $-291.0M | $-503.0M | $-3.53B | $-211.0M | $-2.66B | $-47.0M |
| Financing Activities | ||||||||
| Dividends Paid | $33.0M | $32.0M | $30.0M | $30.0M | $31.0M | $0 | $0 | — |
| Stock Repurchases | — | $0 | $0 | $50.0M | $30.0M | $75.0M | $32.0M | $19.0M |
| Net Cash from Financing Activities | $7.0M | $-609.0M | $-397.0M | $-454.0M | $2.65B | $120.0M | $1.06B | $681.0M |
| Net Change in Cash | $233.0M | $114.0M | $-40.0M | $-128.0M | $-584.0M | $561.0M | $-1.21B | $205.0M |
| Free Cash Flow | $181.0M | $608.0M | $300.0M | $393.0M | $93.0M | $542.0M | $275.0M | $253.0M |