TEGNA Inc. operates as a broadcast and digital media company in the United States. The company engages in content and tools to help people navigate their daily lives. In addition, it delivers local news, information, and marketing solutions to audiences through a diverse range of platforms, including online, mobile apps, connected television (CTV), social media, and traditional linear television; owns …
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Competitive advantage assessment
Key strengths
ROIC Sustainably Above PeersROIC at 100.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.
Margins Stable Across CyclesOperating margin volatility is low (stability score 1.00), demonstrating pricing resilience across cycles.
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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Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 85
· 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 78
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 97
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 87
· 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 71
· 15% of the moat score
Scale matters only when it converts into economics.
TEGNA Inc (TGNA) scores 84 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as strong. It ranks #1 of 18 scored companies in Broadcasting, the top 6%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 17 companies in Broadcasting. Its strongest defense is Capital Efficiency (97/100) and its weakest is Scale & Market Position (71/100).
How does TEGNA Inc compare with other Broadcasting companies?
TEGNA Inc ranks #1 of 18 scored companies in Broadcasting by moat score. That is the widest moat in Broadcasting. The companies ranked closest are Nexstar Media Group, Inc. (NXST) at 78 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 TEGNA 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 TEGNA Inc?
The Corporate Default template measures 6 defenses, and TGNA scores: Pricing Power (86), Cost Advantage (85), Customer Stickiness (78), Capital Efficiency (97), Resilience (87), Scale & Market Position (71). 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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