New York Times (NYT)
Market Price (12/21/2025): $70.88 | Market Cap: $11.6 BilSector: Communication Services | Industry: Publishing
New York Times (NYT)
Market Price (12/21/2025): $70.88Market Cap: $11.6 BilSector: Communication ServicesIndustry: Publishing
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Key risksNYT key risks include [1] navigating subscriber churn and defending its copyright against AI companies through litigation, Show more. |
| Low stock price volatilityVol 12M is 28% | ||
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and E-commerce & DTC Adoption. Themes include Gaming Content & Platforms, Video Streaming, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Low stock price volatilityVol 12M is 28% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and E-commerce & DTC Adoption. Themes include Gaming Content & Platforms, Video Streaming, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Key risksNYT key risks include [1] navigating subscriber churn and defending its copyright against AI companies through litigation, Show more. |
Valuation, Metrics & Events
NYT Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
The New York Times (NYT) stock performance between August 31, 2025, and December 21, 2025, reflects various market dynamics and company-specific developments. While a precise 18.7% movement explanation for this exact future period cannot be definitively detailed, information available up to December 2025 provides insights into key influencing factors.
Here are some of the key points that have influenced NYT's stock movement:
1. Strong Third-Quarter Earnings Report and Digital Growth
The New York Times Company posted a strong third-quarter earnings report, exceeding revenue and earnings estimates. The company continued its successful digital transformation and subscription growth strategy, adding 460,000 net digital-only subscribers, bringing the total to 12.33 million. Digital advertising revenue also saw an increase, contributing to overall revenue growth of 9.5% and an adjusted operating profit increase of 26.1%. These results boosted investor confidence, leading to a significant stock gain in November 2025.
2. Expanding Margins and Operational Efficiency
The company's focus on digital and subscription-based models has led to expanding margins. Adjusted operating margin rose to 18.7%, and adjusted earnings per share increased from $0.45 to $0.59, surpassing expectations. Operational efficiency is also highlighted by an EBIT margin of 15.53% and an EBITDA margin of 19.01% as of September 2025. This sustained improvement in profitability and efficient cost management contributes positively to investor sentiment.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NYT Return | 62% | -6% | -32% | 53% | 7% | 37% | 132% |
| Peers Return | 1% | 51% | -29% | 6% | 34% | 23% | 90% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| NYT Win Rate | 58% | 50% | 42% | 75% | 50% | 58% | |
| Peers Win Rate | 50% | 55% | 38% | 55% | 48% | 55% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| NYT Max Drawdown | -11% | -22% | -42% | 0% | -15% | -12% | |
| Peers Max Drawdown | -41% | -6% | -39% | -15% | -11% | -28% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: NWSA, FOXA, WBD, TRI, LEE. See NYT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/19/2025 (YTD)
How Low Can It Go
| Event | NYT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -50.3% | -25.4% |
| % Gain to Breakeven | 101.3% | 34.1% |
| Time to Breakeven | 855 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -28.3% | -33.9% |
| % Gain to Breakeven | 39.5% | 51.3% |
| Time to Breakeven | 62 days | 148 days |
| 2018 Correction | ||
| % Loss | -24.2% | -19.8% |
| % Gain to Breakeven | 32.0% | 24.7% |
| Time to Breakeven | 34 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -86.8% | -56.8% |
| % Gain to Breakeven | 656.4% | 131.3% |
| Time to Breakeven | 3,409 days | 1,480 days |
Compare to DIS, NWSA, IPG, LBTYA, TDAY
In The Past
New York Times's stock fell -50.3% during the 2022 Inflation Shock from a high on 1/26/2021. A -50.3% loss requires a 101.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to NYT. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.2% | -0.2% | -1.4% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.6% | -5.6% | -6.4% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -3.1% | -3.1% | -5.1% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.4% | 2.4% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -27.7% | -27.7% | -29.8% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.2% | -0.2% | -1.4% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.6% | -5.6% | -6.4% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -3.1% | -3.1% | -5.1% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.4% | 2.4% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -27.7% | -27.7% | -29.8% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for New York Times
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 49.28 |
| Mkt Cap | 23.4 |
| Rev LTM | 7,938 |
| Op Inc LTM | 1,189 |
| FCF LTM | 1,201 |
| FCF 3Y Avg | 1,171 |
| CFO LTM | 1,726 |
| CFO 3Y Avg | 1,554 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.6% |
| Rev Chg 3Y Avg | 4.7% |
| Rev Chg Q | 2.8% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Mgn LTM | 13.5% |
| Op Mgn 3Y Avg | 11.8% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 16.1% |
| CFO/Rev 3Y Avg | 14.7% |
| FCF/Rev LTM | 13.5% |
| FCF/Rev 3Y Avg | 12.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 23.4 |
| P/S | 1.9 |
| P/EBIT | 16.5 |
| P/E | 24.7 |
| P/CFO | 14.0 |
| Total Yield | 4.2% |
| Dividend Yield | 0.9% |
| FCF Yield 3Y Avg | 4.0% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 7.7% |
| 3M Rtn | 1.8% |
| 6M Rtn | 11.4% |
| 12M Rtn | 14.9% |
| 3Y Rtn | 88.4% |
| 1M Excs Rtn | 4.7% |
| 3M Excs Rtn | -2.3% |
| 6M Excs Rtn | -3.8% |
| 12M Excs Rtn | -0.8% |
| 3Y Excs Rtn | 6.4% |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2025 | -0.2% | 9.1% | 12.1% |
| 8/6/2025 | 15.5% | 8.2% | 10.4% |
| 5/7/2025 | -0.0% | 3.9% | 5.9% |
| 2/5/2025 | -11.9% | -11.3% | -15.2% |
| 11/4/2024 | -7.7% | -1.0% | -5.1% |
| 8/7/2024 | 3.4% | 4.7% | 3.8% |
| 5/8/2024 | 3.2% | 4.0% | 10.1% |
| 2/7/2024 | -7.3% | -9.0% | -10.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 13 |
| # Negative | 10 | 12 | 11 |
| Median Positive | 5.2% | 8.4% | 10.4% |
| Median Negative | -6.3% | -7.0% | -6.1% |
| Max Positive | 15.5% | 18.7% | 23.6% |
| Max Negative | -11.9% | -14.6% | -15.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11052025 | 10-Q 9/30/2025 |
| 6302025 | 8062025 | 10-Q 6/30/2025 |
| 3312025 | 5072025 | 10-Q 3/31/2025 |
| 12312024 | 2272025 | 10-K 12/31/2024 |
| 9302024 | 11042024 | 10-Q 9/30/2024 |
| 6302024 | 8072024 | 10-Q 6/30/2024 |
| 3312024 | 5082024 | 10-Q 3/31/2024 |
| 12312023 | 2202024 | 10-K 12/31/2023 |
| 9302023 | 11082023 | 10-Q 9/30/2023 |
| 6302023 | 8082023 | 10-Q 6/30/2023 |
| 3312023 | 5102023 | 10-Q 3/31/2023 |
| 12312022 | 2282023 | 10-K 12/31/2022 |
| 9302022 | 11022022 | 10-Q 9/25/2022 |
| 6302022 | 8032022 | 10-Q 6/26/2022 |
| 3312022 | 5042022 | 10-Q 3/27/2022 |
| 12312021 | 2232022 | 10-K 12/26/2021 |
External Quote Links
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