New York Times
Bundles independent news with sports, games, cooking, audio and shopping guidance.
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Profile
Sells standalone and bundled subscriptions to News, The Athletic, Games, Cooking, Audio and Wirecutter, alongside print editions and advertising. One reportable segment combines distinct consumer products, while Ochs-Sulzberger family voting control is structured to preserve editorial independence.
Publishes core News alongside The Athletic, Audio, Cooking, Games and Wirecutter. Sells each through standalone or multiproduct subscriptions, with print circulation, advertising, affiliate referrals, licensing and other activities adding revenue.
Built its direct-reader model around metered digital access and recurring-use products, using sports, puzzles, recipes, podcasts and shopping guidance to broaden the subscription bundle. Operations and employees are concentrated primarily in the United States, while management reports the portfolio as one segment.
Depends chiefly on consumers continuing to pay for journalism and lifestyle products, supplemented by advertiser demand. Editorial credibility supports that model; Ochs-Sulzberger family Class B voting control is designed to protect journalistic independence, while generative-AI copyright litigation shapes current rights management.
Company facts
Key statistics
Year to date −2.4% · Average volume (30d) 2.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 18, 2026 | UBS | Target | $80 | $75 | |
| Aug 6, 2026 | Barclays | Reiterate | Equal Weight | $66 | $63 |
| Jun 24, 2026 | UBS | Target | $69 | $80 | |
| May 7, 2026 | Morgan Stanley | Target | $68 | $90 | |
| May 7, 2026 | Deutsche Bank | Target | $95 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.66 | $0.69 | +4.1% | $752.0M | $762.5M | +1.4% | −13.40% |
| May 6, 2026Q1 FY26 | $0.49 | $0.61 | +24.5% | $699.9M | $712.2M | +1.8% | −4.16% |
| Feb 4, 2026Q4 FY25 | $0.88 | $0.89 | +1.1% | $791.3M | $802.3M | +1.4% | +2.19% |
| Nov 5, 2025Q3 FY25 | $0.53 | $0.59 | +10.7% | $688.1M | $700.8M | +1.8% | +4.11% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $635.9M | $685.9M | $700.8M | $802.3M | $712.2M | $762.5M | |
| Gross profit | $301.3M | $347.1M | $380.7M | $435.1M | $328.7M | $394.6M | |
| Operating income | $58.6M | $106.6M | $104.8M | $166.0M | $96.2M | $118.0M | |
| Net income | $49.6M | $82.9M | $81.6M | $129.8M | $87.9M | $93.4M | |
| Diluted EPS | $0.30 | $0.50 | $0.50 | $0.79 | $0.54 | $0.57 | |
| Gross margin | 47.4% | 50.6% | 54.3% | 54.2% | 46.2% | 51.8% | |
| Operating margin | 9.2% | 15.5% | 15.0% | 20.7% | 13.5% | 15.5% |
Fiscal years (4-quarter sums)FY21 $2.07B · FY22 $2.31B · FY23 $2.43B · FY24 $2.59B · FY25 $2.82B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $660.8M · Total debt $0 · Total assets $2.98B · Shareholders' equity $2.05B
Dividends
Raised for 12 straight years — most recently to $0.23 from $0.18 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 8, 2026 | Jul 8 | Jul 23 | $0.23 | |
| Apr 1, 2026 | Apr 1 | Apr 16 | $0.23 | raised from $0.18 |
| Jan 6, 2026 | Jan 6 | Jan 16 | $0.18 | |
| Oct 8, 2025 | Oct 8 | Oct 23 | $0.18 | |
| Jul 9, 2025 | Jul 9 | Jul 24 | $0.18 | |
| Apr 1, 2025 | Apr 1 | Apr 17 | $0.18 | raised from $0.13 |
| Jan 10, 2025 | Jan 10 | Jan 23 | $0.13 | |
| Oct 9, 2024 | Oct 9 | Oct 24 | $0.13 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 162.40M · Float 134.19M · 82.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 15.74M | 9.69% | 13F | Aug 7, 2026 |
| Berkshire Hathaway Inc | 15.70M | 9.67% | 13F | Aug 14, 2026 |
| Warren E. Buffett | 15.15M | 9.40% | 13G | May 15, 2026 |
| AQR Capital Management LLC | 9.05M | 5.57% | 13F | Aug 14, 2026 |
| Linonia Partnership LP | 9.03M | 5.56% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 3, 2026 | Jacqueline M. Welch | officer: EVP and CHRO | −4,000 | $74.14 |
| May 12, 2026 | William Bardeen | officer: EVP, Chief Financial Officer | −4,121 | $77.85 |
| May 12, 2026 | Levien Meredith A. Kopit | director, officer: PRESIDENT & CEO | −9,750 | $78.00 |
| Mar 3, 2026 | Levien Meredith A. Kopit | director, officer: PRESIDENT & CEO | −51,949 | $79.70 |
| Mar 3, 2026 | William Bardeen | officer: EVP, Chief Financial Officer | −13,000 | $79.56 |
Peers
- News Corp Class A
Closest listed peer in paid journalism and digital advertising
- Warner Bros. Discovery
News, sports, and lifestyle media across CNN, B/R, and Food Network
- Fox Class A
Large-scale news and sports rival across digital media and advertising
- USA TODAY
National and local journalism peer in subscriptions and advertising
- People
Food and lifestyle publishing rival through People Inc.'s brand portfolio
- Spotify
Global audio platform competing for podcast listeners and advertisers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| New York Times | $68.16 | +0.01% | $11.07B | 28.4 | 22.8 | 3.7 | +11.2% |
| News Corp Class A | $30.65 | −1.00% | $17.38B | 30.1 | 23.0 | 2.1 | +10.8% |
| Warner Bros. Discovery | $28.79 | +0.05% | $72.13B | — | — | 2.0 | −11.2% |
| Fox Class A | $68.42 | −0.01% | $30.00B | 17.8 | 11.6 | 1.6 | +28.1% |
| USA TODAY | $6.34 | −0.24% | $932.7M | — | 31.4 | 0.4 | −8.3% |
| People | $39.14 | 0.00% | $2.91B | 8.7 | 108.8 | 1.4 | −25.6% |
| Spotify | $546.54 | −0.13% | $112.56B | 38.7 | 38.5 | 5.2 | +10.5% |
| Median | 23.9 | 31.4 | 1.8 | +1.1% |