A Business at a Glance
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TEGNA INC
TGNA
$3.2B
Mkt Cap
TEGNA INC (TGNA) has a current P/E ratio of 15.6, compared to its historical median P/E of 6.6. The stock is currently considered Expensive based on its historical valuation range.
TEGNA INC (TGNA) has a 5-year average return on invested capital (ROIC) of 10.4%. This indicates solid capital allocation.
TEGNA INC (TGNA) has a market capitalization of $3.4B. It is classified as a mid-cap stock.
Yes, TEGNA INC (TGNA) pays a dividend with a trailing twelve-month yield of 2.36%.
Based on historical P/E analysis, TEGNA INC (TGNA) appears expensive. The current P/E of 15.6 is 137% above its historical median of 6.6. The estimated fair value CAGR (P/E method) is 8.6%.
TEGNA INC (TGNA) operates in the Television Broadcasting Stations industry, within the Communication Services sector.
TEGNA INC (TGNA) reported annual revenue of $2.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Our Business Overview TEGNA Inc. (the Company) serves local communities across the U.S. through trustworthy journalism, engaging content, and tools to help people navigate their daily lives. Through customized marketing solutions, we help businesses grow and thrive. With 64 television stations and two radio stations in 51 U.S. markets, we are the largest owner of top four network affiliates in the top 25 markets among independent station groups, reaching approximately 39% of U.S. television households. We are one of the nation’s largest producers of local news, producing more than 1,700 hours of news per week. Additionally, through our network affiliation and local sports rights agreements, we carry popular sports content which includes professional and collegiate sports and the Olympics.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.7B | 2.7B | 3.1B | 2.9B | 3.3B | 3.0B |
| Net Income | 219M | 219M | 598M | 475M | 630M | 477M |
| EPS | $1.34 | $1.34 | $3.53 | $2.28 | $2.81 | $2.14 |
| Free Cash Flow | 283M | 283M | 633M | 533M | 761M | 439M |
| ROIC | 6.2% | 6.2% | 11.2% | 10.4% | 13.2% | 11.0% |
| Gross Margin | 36.2% | 36.2% | 43.4% | 41.0% | 48.4% | 46.5% |
| Debt/Equity | 0.82 | 0.82 | 1.05 | 1.17 | 1.03 | 1.32 |
| Dividends/Share | $0.49 | $0.50 | $0.49 | $0.42 | $0.38 | $0.35 |
| Operating Income | 443M | 443M | 785M | 734M | 991M | 802M |
| Operating Margin | 16.3% | 16.3% | 25.3% | 25.2% | 30.2% | 26.8% |
| ROE | 6.9% | 7.1% | 20.9% | 16.4% | 22.5% | 20.8% |
| Shares Outstanding | 163M | 163M | 169M | 208M | 224M | 223M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.6B | 1.8B | 2.0B | 1.9B | 2.2B | 2.3B | 2.9B | 3.0B | 3.3B | 2.9B | 3.1B | 2.7B | 2.7B |
| Gross Margin | 63.6% | 47.7% | 60.3% | 50.9% | 51.7% | 46.6% | 48.8% | 46.5% | 48.4% | 41.0% | 43.4% | 36.2% | 36.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 767M | 318M | 331M | 287M | 315M | 327M | 366M | 396M | 415M | 412M | 395M | 380M | 380M |
| EBIT | 707M | 630M | 708M | 546M | 698M | 559M | 871M | 802M | 991M | 734M | 785M | 443M | 443M |
| Op. Margin | 26.9% | 35.7% | 35.3% | 28.7% | 31.6% | 24.3% | 29.6% | 26.8% | 30.2% | 25.2% | 25.3% | 16.3% | 16.3% |
| Net Income | 1.1B | 460M | 437M | 274M | 406M | 286M | 482M | 477M | 630M | 475M | 598M | 219M | 219M |
| Net Margin | 40.4% | 26.0% | 21.8% | 14.4% | 18.4% | 12.4% | 16.4% | 15.9% | 19.2% | 16.3% | 19.3% | 8.1% | 8.1% |
| Non-Recurring | 30M | -67M | -27M | -18M | 9.9M | 17M | -12M | 2.3M | 323K | 3.4M | 1.1M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 7.3% | 6.0% | 7.7% | 10.7% | 13.7% | 8.5% | 11.6% | 11.0% | 13.2% | 10.4% | 11.2% | 6.2% | 6.2% |
| ROE | 35.7% | 16.9% | 19.6% | 16.8% | 34.7% | 19.5% | 26.4% | 20.8% | 22.5% | 16.4% | 20.9% | 7.1% | 6.9% |
| ROA | 10.4% | 4.7% | 5.1% | 4.1% | 7.9% | 4.7% | 7.0% | 6.9% | 8.8% | 6.6% | 8.3% | 3.1% | 3.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 848M | 651M | 679M | 389M | 527M | 297M | 805M | 502M | 812M | 587M | 685M | 326M | 326M |
| Free Cash Flow | 697M | 532M | 584M | 313M | 462M | 209M | 760M | 439M | 761M | 533M | 633M | 283M | 283M |
| Owner Earnings | 662M | 538M | 582M | 296M | 428M | 167M | 650M | 342M | 661M | 450M | 533M | 203M | 203M |
| CapEx | 150M | 119M | 95M | 77M | 65M | 88M | 45M | 63M | 51M | 55M | 52M | 43M | 43M |
| Maint. CapEx | 152M | 87M | 79M | 77M | 87M | 111M | 135M | 128M | 121M | 113M | 114M | 97M | 97M |
| Growth CapEx | 0 | 32M | 16M | 248K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 152M | 87M | 79M | 77M | 87M | 111M | 135M | 128M | 121M | 113M | 114M | 97M | 97M |
| CapEx/OCF | 17.7% | 18.2% | 14.0% | 19.7% | 12.4% | 29.7% | 5.7% | 12.6% | 6.3% | 9.3% | 7.7% | 13.3% | 13.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 181M | 168M | 122M | 90M | 60M | 61M | 76M | 78M | 85M | 84M | 81M | 80M | 80M |
| Dividend Yield | 6.5% | 5.3% | 4.8% | 3.5% | 2.8% | 2.2% | 3.0% | 2.1% | 2.0% | 2.6% | 3.3% | 2.7% | 2.4% |
| Share Buybacks | 76M | 271M | 162M | 23M | 5.8M | 0 | 0 | 0 | 0 | 653M | 275M | 0 | 0 |
| Buyback Yield | 2.5% | 8.9% | 6.5% | 0.9% | 0.3% | N/A | N/A | N/A | N/A | 21.6% | 9.0% | N/A | 0.0% |
| Stock-Based Comp | 34M | 26M | 18M | 17M | 13M | 20M | 20M | 32M | 30M | 24M | 39M | 26M | 26M |
| Debt Repayment | 11M | 587M | 353M | 412M | 121M | 710M | 1.6B | 137M | 0 | 0 | 0 | 550M | 550M |
| Balance Sheet | |||||||||||||
| Net Debt | 4.5B | 4.1B | 4.0B | 2.9B | 2.8B | 4.3B | 3.6B | 3.3B | 2.6B | 2.8B | 2.5B | 2.3B | 2.3B |
| Cash & Equiv. | 45M | 26M | 16M | 99M | 136M | 29M | 41M | 57M | 552M | 361M | 693M | 291M | 291M |
| Long-Term Debt | 4.5B | 4.2B | 4.0B | 3.0B | 2.9B | 4.2B | 3.6B | 3.2B | 3.1B | 3.1B | 3.1B | 2.5B | 2.5B |
| Debt/Equity | 1.38 | 1.90 | 1.78 | 3.02 | 2.20 | 2.70 | 1.78 | 1.32 | 1.03 | 1.17 | 1.05 | 0.82 | 0.82 |
| Interest Coverage | 2.6 | 2.3 | 3.1 | 2.6 | 3.6 | 2.7 | 4.1 | 4.3 | 5.7 | 4.2 | 4.6 | 2.8 | 2.8 |
| Equity | 3.3B | 2.2B | 2.3B | 995M | 1.3B | 1.6B | 2.1B | 2.5B | 3.1B | 2.7B | 3.0B | 3.2B | 3.2B |
| Total Assets | 11.2B | 8.5B | 8.5B | 5.0B | 5.3B | 7.0B | 6.8B | 6.9B | 7.3B | 7.0B | 7.3B | 6.9B | 6.9B |
| Total Liabilities | 7.7B | 6.0B | 5.9B | 4.0B | 3.9B | 5.4B | 4.8B | 4.4B | 4.2B | 4.3B | 4.3B | 3.7B | 3.7B |
| Intangibles | 3.2B | 3.1B | 1.3B | 1.3B | 1.5B | 2.6B | 2.5B | 2.4B | 2.4B | 2.3B | 2.3B | 2.3B | 2.3B |
| Retained Earnings | 8.6B | 7.1B | 7.4B | 6.1B | 6.4B | 6.7B | 7.1B | 7.5B | 7.9B | 8.1B | 8.5B | 3.2B | 3.2B |
| Working Capital | 180M | 198M | 172M | 312M | 266M | 346M | 248M | 412M | 913M | 627M | 894M | 551M | 551M |
| Current Assets | 1.3B | 805M | 791M | 637M | 635M | 707M | 673M | 788M | 1.3B | 1.1B | 1.4B | 981M | 981M |
| Current Liabilities | 1.1B | 607M | 619M | 325M | 369M | 361M | 424M | 375M | 391M | 423M | 466M | 430M | 430M |
| Per Share Data | |||||||||||||
| EPS | 4.58 | 2.00 | 1.99 | 1.26 | 1.87 | 1.31 | 2.19 | 2.14 | 2.81 | 2.28 | 3.53 | 1.34 | 1.34 |
| Owner EPS | 2.85 | 2.34 | 2.65 | 1.36 | 1.97 | 0.76 | 2.96 | 1.54 | 2.95 | 2.16 | 3.15 | 1.24 | 1.24 |
| Book Value | 14.03 | 9.54 | 10.35 | 4.58 | 6.18 | 7.28 | 9.35 | 11.31 | 13.70 | 12.98 | 17.75 | 19.32 | 19.32 |
| Cash Flow/Share | 3.65 | 2.83 | 3.09 | 1.79 | 2.43 | 1.36 | 3.66 | 2.25 | 3.62 | 2.82 | 4.05 | 2.00 | 1.93 |
| Dividends/Share | 0.80 | 0.68 | 0.56 | 0.35 | 0.28 | 0.28 | 0.28 | 0.35 | 0.38 | 0.42 | 0.49 | 0.50 | 0.49 |
| Shares Out. | 231.9M | 229.8M | 219.4M | 217.3M | 216.9M | 218.5M | 220.0M | 222.9M | 224.2M | 208.3M | 169.3M | 163.4M | 163.4M |
| Valuation | |||||||||||||
| P/E Ratio | 2.8 | 6.6 | 5.7 | 9.3 | 4.9 | 11.0 | 5.6 | 8.0 | 6.8 | 6.3 | 5.1 | 14.5 | 15.6 |
| P/FCF | 4.3 | 5.7 | 4.3 | 8.1 | 4.3 | 15.1 | 3.5 | 8.7 | 5.6 | 5.6 | 4.8 | 11.2 | 12.1 |
| EV/EBIT | 10.5 | 11.4 | 9.2 | 10.0 | 6.9 | 13.1 | 7.1 | 8.7 | 6.3 | 7.3 | 6.0 | 11.6 | 12.9 |
| Price/Book | 0.9 | 1.4 | 1.1 | 2.6 | N/A | 2.0 | 1.3 | 1.5 | 1.4 | 1.1 | 1.0 | 1.0 | 1.1 |
| Price/Sales | 1.1 | 1.8 | 1.3 | 1.3 | 1.0 | 1.2 | 0.9 | 1.2 | 1.3 | 1.1 | 0.8 | 1.1 | 1.3 |
| FCF Yield | 23.3% | 17.5% | 23.5% | 12.3% | 23.3% | 6.6% | 28.3% | 11.6% | 17.8% | 17.6% | 20.8% | 8.9% | 8.3% |
| Market Cap | 3.0B | 3.0B | 2.5B | 2.5B | 2.0B | 3.2B | 2.7B | 3.8B | 4.3B | 3.0B | 3.0B | 3.2B | 3.4B |
| Avg. Price | 12.01 | 13.77 | 11.53 | 11.73 | 10.05 | 12.57 | 11.44 | 16.73 | 19.03 | 15.38 | 14.58 | 18.13 | 20.86 |
| Year-End Price | 12.88 | 13.21 | 11.31 | 11.71 | 9.14 | 14.47 | 12.21 | 17.02 | 19.08 | 14.44 | 17.88 | 19.40 | 20.86 |
TEGNA INC passes 2 of 9 quality checks, indicating weak fundamentals.
TEGNA INC trades at 15.6x trailing earnings, compared to its 15-year median P/E of 6.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 12.0x vs a median of 5.6x. The company's 5-year average ROIC is 10.4% with a gross margin of 43.1%. Total shareholder yield (dividends) is 2.4%. At current prices, the estimated annualized return to fair value is +9.9%.
TEGNA INC (TGNA) has a net profit margin of 8.1%. This is a modest margin.
TEGNA INC (TGNA) generated $283 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TEGNA INC (TGNA) has a debt-to-equity ratio of 0.82. This indicates moderate leverage.
TEGNA INC (TGNA) reported earnings per share (EPS) of $1.34 in its most recent fiscal year.
TEGNA INC (TGNA) has a return on equity (ROE) of 7.1%. This indicates moderate shareholder returns.
TEGNA INC (TGNA) has a 5-year average gross margin of 43.1%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for TEGNA INC (TGNA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TEGNA INC (TGNA) has a book value per share of $19.32, based on its most recent annual SEC filing.