New York Times Co. (NYT) intrinsic value & 10-year financials
New York Times Co. (NYT) has a Graham intrinsic value of $69.42 per share. At $67.78 on Oct 17, 2026, the stock trades 2% below that value. Over the last 10 fiscal years revenue grew 6.9% a year to $2.8B, with an average return on invested capital of 13.5%.
- Graham intrinsic value
- $69.42
- Share price (Oct 17, 2026)
- $67.78
- Price vs Graham value
- 2% below
- Market cap
- $11.2B
- Revenue (FY2025)
- $2.8B
- Revenue growth (10-yr CAGR)
- 6.9%
- ROIC (10-yr avg)
- 13.5%
- Free cash flow (FY2025)
- $550.5M
NYT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.8B | $344.0M | $2.09 | $550.5M | 15.3% | 18.3% |
| FY2024 | $2.6B | $293.8M | $1.77 | $381.3M | 13.6% | 16.4% |
| FY2023 | $2.4B | $232.4M | $1.40 | $337.9M | 11.4% | 14.4% |
| FY2022 | $2.3B | $173.9M | $1.04 | $113.7M | 8.7% | 11.0% |
| FY2021 | $2.1B | $220.0M | $1.31 | $234.5M | 12.9% | 17.1% |
| FY2020 | $1.8B | $100.1M | $0.60 | $263.5M | 9.9% | 14.7% |
| FY2019 | $1.8B | $140.0M | $0.83 | $144.5M | 9.7% | 14.6% |
| FY2018 | $1.7B | $125.7M | $0.75 | $79.6M | 10.9% | 13.6% |
| FY2017 | $1.7B | $4.3M | $0.03 | $2.0M | 6.7% | 5.7% |
| FY2016 | $1.6B | $29.1M | $0.18 | $64.2M | 6.5% | 8.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
NEW YORK TIMES CO has demonstrated mature, steady growth, with revenue compounding at 6.9% annually over the past decade.
NEW YORK TIMES CO returns on capital have been average, hovering around 13.5% ROIC over the decade.
NEW YORK TIMES CO has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, NEW YORK TIMES CO is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $69.42 per share.