The New York Times Company

NYT

Publishing · Communication Services

Price

$65.69

+0.39 (+0.60%)

Market Cap

$10.67B

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Exceptional

Cash Flow

Exceptional

Stability

Good

Valuation

Good

Dividends

Good

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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)

Winston Score History

The full picture

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.

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

+11.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+13.7% YoY

YoY Growth Rate

Steady EPS growth

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

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.2B 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 11%. 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

Profit per sale

Gross Margin

51.8%

Healthy — 51.8% gross margin

Profit after running costs

Operating Margin

15.5%

Healthy — 15.5% operating margin

Return on the money invested

ROCE

23.7%

Exceptional — 23.7% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+10.8%

Steady sales growth (+10.8% YoY)

Profit growth

EPS YoY

+24.1%

Earnings growing fast (+24.1% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

191%

Turns 191% of profit into real cash

Spare cash per sale

FCF Margin

23.7%

Converts sales into free cash efficiently (23.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

766.18x

Comfortably covers interest (766.2x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

27.1x

Growth-priced — P/E 27.1

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

Cheaper or dearer next year

P/E vs Forward

+5.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (27.1 → 21.5)

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Dividends

Dividend

Dividend Yield

1.08%

Small dividend — 1.08% yield

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

Dividend record

Dividend Growth

+32.3%

Dividend growing fast (32.3% YoY)

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