New York Times (NYT)
Market Price (11/22/2025): $64.08 | Market Cap: $10.4 BilSector: Communication Services | Industry: Publishing
New York Times (NYT)
Market Price (11/22/2025): $64.08Market Cap: $10.4 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 -0.6%, Dist 3Y High is -0.6% | |
| Attractive yieldFCF Yield is 5.1% | ||
| 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% |
| Attractive yieldFCF Yield is 5.1% |
| 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 -0.6%, Dist 3Y High is -0.6% |
Market Valuation & Key Metrics
NYT Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
The New York Times (NYT) stock experienced a 23.9% increase between July 31, 2025, and November 22, 2025, driven by several key factors:
1. Strong Second Quarter 2025 Financial Results.
The company reported better-than-expected Q2 2025 earnings on August 6, 2025. Key highlights included adding 230,000 net digital-only subscribers, bringing the total to 11.3 million, a 9.6% year-over-year increase in total subscription revenues, and a 15.1% rise in digital-only subscription revenues. Digital advertising revenue also surged by 18.7%, and net income grew 26.6% year-over-year, with adjusted earnings per share (EPS) of $0.58 surpassing analyst estimates of $0.51.
2. Exceptional Third Quarter 2025 Earnings Performance.
On November 5, 2025, The New York Times announced robust Q3 2025 financial results. Total revenues climbed 9.5% year-over-year to $700.8 million, exceeding analyst forecasts of $692.6 million. Digital-only subscription revenue saw a 14.0% increase to $367.4 million, and digital advertising revenue jumped 20.3% to $98.1 million. The company also reported adding approximately 460,000 net digital-only subscribers, bringing its total subscriber base to 12.33 million. Operating profit rose significantly by 36.6% to $104.8 million, and diluted EPS of $0.50 beat estimates of $0.54.
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% | 24% | 109% |
| Peers Return | 14% | 18% | -20% | 7% | 13% | -8% | 18% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| NYT Win Rate | 58% | 50% | 42% | 75% | 50% | 50% | |
| Peers Win Rate | 42% | 45% | 27% | 47% | 43% | 50% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| NYT Max Drawdown | -11% | -22% | -42% | 0% | -15% | -12% | |
| Peers Max Drawdown | -32% | -5% | -30% | -12% | -7% | -17% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: DIS, NWSA, IPG, LBTYA, TDAY. 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 11/21/2025 (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 | 3409 days | 1480 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 |
|---|---|---|---|---|---|---|---|
| 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 | -23.1% | -23.1% | -25.6% |
| 10032025 | CABO | Cable One | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -38.9% | -38.9% | -43.7% |
| 09122025 | DV | DoubleVerify | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -20.4% | -20.4% | -27.9% |
| 07312025 | CMCSA | Comcast | 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 | -16.8% | -16.8% | -19.0% |
| 05312025 | 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 | -19.8% | -19.8% | -20.3% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 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 | -23.1% | -23.1% | -25.6% |
| 10032025 | CABO | Cable One | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -38.9% | -38.9% | -43.7% |
| 09122025 | DV | DoubleVerify | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -20.4% | -20.4% | -27.9% |
| 07312025 | CMCSA | Comcast | 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 | -16.8% | -16.8% | -19.0% |
| 05312025 | 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 | -19.8% | -19.8% | -20.3% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for New York Times
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 25.70 |
| Mkt Cap | 10.4 |
| Rev LTM | 5,732 |
| Op Inc LTM | 699 |
| FCF LTM | 558 |
| FCF 3Y Avg | 637 |
| CFO LTM | 976 |
| CFO 3Y Avg | 934 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.6% |
| Rev Chg 3Y Avg | -3.4% |
| Rev Chg Q | 2.2% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Mgn LTM | 12.7% |
| Op Mgn 3Y Avg | 11.0% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 16.0% |
| CFO/Rev 3Y Avg | 12.8% |
| FCF/Rev LTM | 10.1% |
| FCF/Rev 3Y Avg | 7.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.4 |
| P/S | 1.7 |
| P/EBIT | 14.0 |
| P/E | 16.2 |
| P/CFO | 9.9 |
| Total Yield | 6.6% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 4.5% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.1% |
| 3M Rtn | -5.6% |
| 6M Rtn | 10.0% |
| 12M Rtn | -8.3% |
| 3Y Rtn | 10.2% |
| 1M Excs Rtn | -0.7% |
| 3M Excs Rtn | -7.7% |
| 6M Excs Rtn | -3.8% |
| 12M Excs Rtn | -18.0% |
| 3Y Excs Rtn | -53.9% |
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% | |
| 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 | 12 |
| # Negative | 10 | 12 | 12 |
| Median Positive | 5.2% | 8.4% | 10.2% |
| 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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