New York Times Co
NYT
Newspapers: Publishing or Publishing & Printing
Mkt Cap
$7.545BPE
39.04Debt
-Cash
$249.9MEV
-FCF
$264.1MP/E Ratio
39.04Debt
-Cash
$249.9MEV
-FCF
$264.1MThe New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website. The company also licenses articles, graphics, and photographs to newspapers, magazines and websites; and licenses content to digital aggregators in the business, professional, academic and library markets; third-party digital platforms; and for use in television, films and books. In addition, it engages in the live events business, which hosts events to connect audiences with journalists and outside thought leaders; and digital advertising business that includes direct-sold website, mobile application, podcast, email, and video advertisements. Further, the company offers The Athletic, a sports media product; Cooking, a recipe product; Games, a puzzle games product; and Audm, a read-aloud audio service that are available on mobile applications and websites, as well as Wirecutter, a product review and recommendation product. It also prints and distributes products for third parties; and offers other products and services. The company was founded in 1851 and is headquartered in New York, New York.
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DCF
Discounted Cash Flow Valuation of New York Times Co
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $264.1M | $300.4M | $338.9M | $379M | $420.1M | $461.6M | $502.6M | $542.5M | $580.2M | $614.8M | $645.6M | $6.456B |
| DCF | $261.3M | $256.3M | $249.2M | $240.2M | $229.5M | $217.3M | $203.9M | $189.7M | $174.8M | $159.6M | $1.596B | |
| Value | $3.777B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 29%
Earnings Stability 51%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 07-2019 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 4% | 1.5% | 0.26% | 7.2% | - | 7.7% | 5.6% | 11% | 7.5% | 8% |
| ROA | 5.6% | 4.6% | 5.4% | 8.7% | - | 8.4% | 7.6% | 11% | 9.3% | 10% |
| ROE | 7.6% | 2.8% | 0.48% | 12% | - | 12% | 7.5% | 14% | 11% | 12% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +7.73%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +0.28%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +9.07%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +0.31%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +11.33%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -0.05%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 07-2019 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 4.23 | 3.90 | 127.72 | 6.37 | - | 0.00 | - | - | - | - |
| Debt Equity | 0.76 | 0.29 | 0.28 | 0.49 | - | 0.00 | - | - | - | - |
| MIN | ||||||||||
| Graham Stability | - | 45% | 11% | 100% | - | 100% | 75% | 100% | 100% | 11% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is -.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -3.19.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.11.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2019 | 12-2021 | Trend |
|---|---|---|---|---|---|
| Revenue | 5.8% | 5.7% | 8.4% | 11% | 1.3% |
| Net Income | 33% | 6.7% | 7.5% | -21% | -3.6% |
| Stockholders Equity | 9.5% | 8.9% | 11% | 3.8% | 1.4% |
| FCF | 8.5% | 7.4% | -7.7% | -51% | -28% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +5.71%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +1.28%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +6.71%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -3.61%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +8.94%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +1.41%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +7.39%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -27.56%.