The New York Times Company

NYT

Publishing · Communication Services

Price

$75.93

-0.78 (-1.02%)

Market Cap

$12.29B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−2.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 168.5M (2021) → 164.9M (2025)

The New York Times Company publishes one of the most recognized news brands in the world. Its core products include digital and print news, plus subscription bundles that include The Athletic (sports news), Wordle, and other games. It serves general consumers who want news, sports coverage, and puzzles, primarily in the United States.

The company makes most of its money from digital subscriptions, with smaller revenue from print subscriptions and digital advertising. It has shifted heavily away from print over the past decade, and now has over 10 million subscribers, giving it one of the largest paid digital news audiences in the world. Its brand recognition and deep archive of journalism create a meaningful competitive advantage over smaller news outlets. The key growth challenge is convincing subscribers to pay for bundled products rather than canceling as competition from free news sources and other entertainment options remains intense.

Winston Score History

Politician Trades

2 trades / 12mo

1 Congressional buy and 1 sell on NYT in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+80.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$264M/ year

↑ Rising (+7% vs prior year)

9.4% of revenue

Below sector average (12%)

R&D investment increasing — building for the future

Insider Activity

16.8%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$187M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

The New York Times Company is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

46.2%

Healthy — 46.2% gross margin

Operating Margin

13.5%

Healthy — 13.5% operating margin

ROCE

4.8%

Weak — 4.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+10.4%

Steady sales growth (10.4% YoY)

EPS YoY

+27.7%

Earnings growing fast (27.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

151%

Turns 151% of profit into real cash

FCF Margin

18.7%

Converts sales into free cash efficiently (18.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

485.17x

Comfortably covers interest (485.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

32.3x

Pricey — P/E 32.3

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+11.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (32.3 → 20.8)

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Dividends

Dividend Yield

1.04%

Small dividend — 1.04% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+32.3%

Dividend growing fast (32.3% YoY)

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