Gray Media, Inc., a multimedia company, owns and/or operates television stations and digital assets in the United States. The company operates through Broadcasting, Production Companies, and Other segments. It also owns Gray Digital Media, a digital agency that provides clients with digital marketing strategies; and operates video production companies and studio production facilities. The company was formerly known as Gray …
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Competitive advantage assessment
Key strengths
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.82), demonstrating pricing resilience across cycles.
Cost Leadership PositionOperating margin at 88.2th percentile with strong OpEx control demonstrates cost leadership.
Key risks
Revenue Volatility Signals Weak StickinessRevenue volatility is high (stability score 0.29), suggesting weak customer stickiness.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Gray Media, Inc. ranks #3 of 18
scored companies in Broadcasting by moat score — the top 17%.
The widest moat in the group is TEGNA Inc (TGNA)
at 84/100.
Moat scores for companies ranked near GTN in Broadcasting
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 94
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 54
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 61
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 59
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 76
· 15% of the moat score
Scale matters only when it converts into economics.
Gray Media, Inc. (GTN) scores 69 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #3 of 18 scored companies in Broadcasting, the top 17%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 17 companies in Broadcasting. Its strongest defense is Cost Advantage (94/100) and its weakest is Customer Stickiness (54/100).
How does Gray Media, Inc. compare with other Broadcasting companies?
Gray Media, Inc. ranks #3 of 18 scored companies in Broadcasting by moat score. The widest moat in Broadcasting is TEGNA Inc (TGNA) at 84/100. The companies ranked closest are Nexstar Media Group, Inc. (NXST) at 78 just above it and Gray Media, Inc. (GTN-A) at 68 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 17 companies in Broadcasting. The defenses are then weighted to produce the overall score out of 100.
Why is Gray Media, Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Gray Media, Inc.?
The Corporate Default template measures 6 defenses, and GTN scores: Pricing Power (73), Cost Advantage (94), Customer Stickiness (54), Capital Efficiency (61), Resilience (59), Scale & Market Position (76). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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