The New York Times Company NYT

Communication ServicesMedia & PublishingUnited States of America

Last close 69.96 USD on Nov 2, 2026, +2.0% year to date

Quant rating

Quant rating B Rank 24 of 135 in Communication Services

Growth C 63 of 135
Valuation C 88 of 135
Quality A 6 of 135
Revisions C 65 of 135
Momentum B 47 of 135

Wall Street consensus Buy (2.08)Average target 77.80 USD +11.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 11.3B
Enterprise value: 10.6B
52-week range: 56.48 – 87.08
3-year range: 41.43 – 87.08
Dividend yield: 1.31%
Beta (5 years): 0.86
Shares outstanding: 161M
Next earnings: Nov 4, 2026

About the company

The New York Times Company is a global media company focused on creating and distributing news and information that helps its audience understand and engage with the world. Its core news product, The New York Times (The Times), is available on its mobile application, on its website (NYTimes.com) and as a printed newspaper, and associated content, such as its podcasts. Its other interest-specific products, including The Athletic (its sports media product), Audio (its audio offering available as a separate subscription through its news app), Cooking (its recipes and cooking content product) and Games (its puzzle games product), which are available on mobile applications and websites, and Wirecutter (its product review and recommendation offering). Its related businesses, such as its licensing operations, its commercial printing operations and other products and services under The Times brand. The Times’s print edition newspaper is published seven days a week in the United States.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,825	2,586	2,426	2,308	2,075	–
Revenue growth	9.2%	6.6%	5.1%	11.3%	16.3%	9.6%
EPS (basic, normalized)	2.46	2.01	1.63	1.32	1.28	–
EPS growth	22.4%	23.3%	23.5%	3.1%	–	–
Gross margin	50.8%	49.4%	48.5%	47.6%	49.9%	49.2%
Net margin	12.2%	11.4%	9.6%	7.5%	10.6%	10.3%
ROE	17.3%	15.9%	13.8%	11.1%	15.4%	14.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	661
Current ratio	1.58x
Long-term debt (mil)	0
Net debt (mil)	−661
Total equity (mil)	2,048
Net debt / equity	−0.32x
Net debt / EBITDA	−1.20x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,825	+9.2%	3.8x	550	+15.7%	19.3x	2.46	+22.4%	28.4x
2026	3,110	+10.1%	3.4x	647	+17.6%	16.4x	2.88	+17.3%	24.3x
2027	3,331	+7.1%	3.2x	720	+11.3%	14.8x	3.13	+8.5%	22.4x
2028	3,535	+6.1%	3.0x	803	+11.6%	13.2x	3.38	+7.9%	20.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	3,110	0.0%	+0.4%	+1.1%	2.88	−0.6%	−0.3%	+3.0%
2027	3,331	0.0%	+0.4%	+1.2%	3.13	−0.8%	−1.4%	0.0%
2028	3,535	+0.2%	+0.8%	+2.0%	3.38	+0.5%	+1.6%	+5.5%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	594	625	640	727	636	686	701	802	712	762
Sales mean (mil)	592	625	641	727	635	671	690	791	700	752
Surprise	+0.4%	0.0%	−0.1%	0.0%	+0.2%	+2.3%	+1.5%	+1.4%	+1.8%	+1.4%
EPS reported	0.31	0.45	0.45	0.80	0.41	0.58	0.59	0.89	0.61	0.69
EPS mean	0.20	0.40	0.41	0.74	0.34	0.50	0.53	0.87	0.47	0.67
Surprise	+56.7%	+11.2%	+9.5%	+7.6%	+19.3%	+16.9%	+10.6%	+2.0%	+28.7%	+3.7%

Peer comparison Media & Publishing

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
NYT The New York Times Company	11.3B	−1.20x	12.2%	5.52x	24.3x	22.4x	16.4x	14.8x
DIS The Walt Disney Company	195.3B	2.24x	13.1%	1.80x	16.3x	15.1x	10.4x	10.0x
LYV Live Nation Entertainment, Inc.	41.3B	0.79x	−0.2%	501.25x	−449.1x	84.3x	16.1x	14.3x
TKO TKO Group Holdings Inc	35.0B	5.85x	4.1%	10.38x	41.6x	31.5x	19.3x	18.2x
FOXA Fox Corporation	25.0B	0.66x	9.8%	2.26x	10.5x	10.7x	6.7x	7.1x
ROKU Roku, Inc.	23.1B	−6.08x	1.9%	8.18x	55.6x	40.8x	27.2x	22.0x
Mean		0.38x	6.8%	88.23x	−50.2x	34.1x	16.0x	14.4x
Median		0.73x	7.0%	6.85x	20.3x	26.9x	16.3x	14.5x

Technical analysis

1M+12.0%
3M−6.3%
1Y+24.2%
3Y+74.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, The New York Times Company, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,825	2,586	2,426	2,308	2,075	1,784
Cost of revenue	1,390	1,310	1,249	1,209	1,040	960
Gross profit	1,435	1,276	1,177	1,099	1,035	823
Selling, general & administrative expenses	620	572	558	547	545	446
Research & development	264	248	229	204	161	132
Depreciation/amortization	85.0	83.0	86.1	82.7	57.5	62.1
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	37.6	21.4	25.0	63.3	3.8	87.3
Other operating expenses	1.2	0.3	0	0	0	0
Operating income	427	351	279	202	268	95.7
Net interest income (expense)	42.3	36.5	21.1	6.5	32.9	23.3
Gain (loss) on sale of assets	–	0	0	34.2	–	5.0
Other non-operating income (expense)	−18.6	−4.2	2.7	−6.7	−10.5	−8.6
Net income before taxes	451	383	303	236	291	115
Provision for taxes	107	89.6	69.8	62.1	70.5	14.6
Minority interest	0	0	−0.4	0	0	−0.7
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	344	294	232	174	220	100
Extraordinary items	–	–	–	–	–	–
Net income	344	294	232	174	220	100
EBIT, normalized	465	372	304	265	272	183
EBITDA, normalized	550	455	390	348	329	245
Basic EPS, normalized	2.46	2.01	1.63	1.32	1.28	–

Balance sheet in millions of USD, fiscal years

Balance sheet, The New York Times Company, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	642	566	452	347	661	595
Receivables	291	250	242	218	233	184
Total inventory	–	–	–	–	–	–
Prepaid expenses	60.0	49.9	59.7	54.9	33.2	29.5
Other current assets	35.1	71.0	27.9	35.9	25.6	27.5
Total current assets	1,028	936	782	656	953	836
Property, plant & equipment	496	521	550	614	575	595
Goodwill	409	412	416	414	166	172
Intangibles	229	258	285	317	14.2	9.0
Long-term investments	550	375	287	169	441	308
Note receivable	–	–	–	–	–	–
Other long-term assets	284	338	394	364	415	389
Total assets	2,997	2,841	2,715	2,534	2,564	2,308
Liabilities
Accounts payable	136	124	117	115	127	123
Payable/accrued	–	–	–	–	–	–
Accrued expenses	323	303	322	301	313	258
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	208	187	173	156	119	105
Total current liabilities	667	614	612	571	559	487
Long-term debt	0	0	0	0	0	0
Minority interest	–	–	0	2.0	2.0	2.6
Other liabilities	289	301	340	363	464	493
Total liabilities	956	914	951	936	1,025	982
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	18.0	17.9	17.8	17.7	17.7	17.6
Additional paid-in capital	412	356	301	256	230	217
Retained earnings (accumulated deficit)	2,551	2,325	2,118	1,959	1,845	1,673
Treasury stock	−573	−406	−321	−276	−171	−171
Other equity	−366	−366	−353	−358	−383	−410
Total equity	2,041	1,927	1,763	1,598	1,539	1,326
Total liabilities & shareholders' equity	2,997	2,841	2,715	2,534	2,564	2,308

Cash flow statement in millions of USD, fiscal years

Cash flow statement, The New York Times Company, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	344	294	233	174	220	101
Depreciation, depletion & amortization	85.0	82.9	86.1	82.7	57.5	62.1
Deferred taxes	–	–	–	–	−6.4	−16.0
Non-cash items	80.5	39.2	48.9	−0.9	−7.5	70.9
Changes in working capital	75.0	−5.4	−7.2	−105	5.5	80.1
Cash from operations	584	411	361	151	269	298
Investing activities
Capital expenditures	−34.0	−29.2	−22.7	−37.0	−34.6	−34.5
Other investing cash flows	−187	−277	−137	−36.6	−146	−165
Cash from investing	−221	−306	−160	−73.6	−181	−199
Financing activities
Financing cash flow items	−30.4	−24.8	−18.7	−12.5	−12.1	−12.6
Cash dividends paid	−110	−82.9	−69.5	−56.8	−45.3	−38.4
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−165	−85.0	−44.6	−105	2.5	6.1
Cash from financing	−306	−193	−133	−174	−54.9	−45.0
Foreign exchange effects	−0.4	−1.0	−0.2	−2.0	−1.0	0.6
Net change in cash	56.6	−89.3	68.0	−99.1	32.3	54.4
Free cash flow	551	381	338	114	234	263

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.