USA TODAY Co. (TDAY) financial statements
USA TODAY Co. reported revenue of $2.3B in fiscal 2025, up 7.0% a year over 9 years.
Net income was $2M.
Free cash flow was $63M, and the company returned $3M in net buybacks.
The diluted share count rose 222% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from USA TODAY Co.'s 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B | $1.3B | $1.5B | $1.9B | $3.4B | $3.2B | $2.9B | $2.7B | $2.5B | $2.3B |
| Cost of revenue | — | $743M | $865M | $1.1B | $2.0B | $1.9B | $1.9B | $1.7B | $1.5B | $1.4B |
| Gross profit | — | $599M | $661M | $788M | $1.4B | $1.3B | $1.1B | $972M | $964M | $891M |
| Selling, general and admin | $416M | $447M | $503M | $602M | $1000M | $902M | $852M | $723M | $704M | $640M |
| Operating income | $61M | $34M | $58M | -$147M | -$448M | $109M | -$34M | $86M | -$43M | — |
| Interest expense | $30M | $30M | $36M | $64M | $229M | $136M | $108M | $112M | $105M | $97M |
| Pre-tax income | $29M | -$434,000 | $20M | -$207M | -$706M | -$88M | -$77M | -$6M | -$78M | -$1M |
| Income tax | -$2M | $481,000 | $2M | -$86M | -$33M | $48M | $1M | $22M | -$51M | -$3M |
| Net income | $32M | -$915,000 | $18M | -$120M | -$670M | -$135M | -$78M | -$28M | -$26M | $2M |
| EPS (diluted) | $0.70 | -$0.02 | $0.31 | -$1.77 | -$5.09 | -$1.00 | -$0.57 | -$0.20 | -$0.18 | $0.01 |
| Diluted shares | 45M | 53M | 58M | 68M | 132M | 135M | 137M | 140M | 143M | 146M |
| Gross margin | — | 44.6% | 43.3% | 42.2% | 40.3% | 40.7% | 36.8% | 36.5% | 38.4% | 38.7% |
| Operating margin | 4.8% | 2.5% | 3.8% | -7.9% | -13.2% | 3.4% | -1.1% | 3.2% | -1.7% | — |
| Net margin | 2.5% | -0.1% | 1.2% | -6.4% | -19.7% | -4.2% | -2.6% | -1.0% | -1.1% | 0.1% |
Balance sheet
Fiscal years, from USA TODAY Co.'s 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $172M | $43M | $49M | $156M | $171M | $131M | $94M | $100M | $106M | $90M |
| Receivables | — | $152M | $174M | $439M | $314M | $329M | $289M | $266M | $240M | $224M |
| Inventory | $18M | $19M | $25M | $55M | $35M | $38M | $45M | $27M | $21M | $13M |
| Total current assets | $370M | $263M | $298M | $779M | $637M | $577M | $508M | $444M | $426M | $389M |
| Property, plant and equipment | $381M | $373M | $340M | $816M | $590M | $415M | $306M | $239M | $241M | $178M |
| Goodwill | $228M | $237M | $311M | $914M | $534M | $534M | $533M | $534M | $530M | $519M |
| Total assets | $1.3B | $1.3B | $1.4B | $4.0B | $3.1B | $2.8B | $2.4B | $2.2B | $2.0B | $1.8B |
| Total current liabilities | $196M | $204M | $248M | $718M | $741M | $663M | $617M | $534M | $546M | $518M |
| Long-term debt | $339M | $357M | $428M | $1.6B | $1.5B | $1.2B | $1.1B | $981M | $1.0B | $885M |
| Total liabilities | $581M | $609M | $725M | $3.0B | $2.7B | $2.3B | $2.1B | $1.9B | $1.9B | $1.7B |
| Shareholders' equity | $755M | $674M | $717M | $981M | $364M | $532M | $296M | $318M | $153M | $155M |
| Net debt | $181M | $317M | $392M | $1.5B | $1.4B | $1.1B | $1.1B | $944M | $974M | $864M |
Cash flow
Fiscal years, from USA TODAY Co.'s 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $95M | $111M | $110M | $26M | $58M | $127M | $41M | $95M | $100M | $114M |
| Capital spending | $11M | $11M | $12M | $14M | $37M | $40M | $45M | $38M | $50M | $51M |
| Free cash flow | $84M | $99M | $98M | $12M | $21M | $88M | -$5M | $56M | $51M | $63M |
| Stock-based compensation | $2M | $3M | $3M | $11M | $26M | $18M | $17M | $17M | $13M | $9M |
| Dividends paid | $60M | $76M | $87M | $92M | $0 | $0 | — | — | — | — |
| Share buybacks (net) | -$417,000 | -$5M | $0 | $0 | -$2M | -$3M | -$7M | -$3M | -$3M | -$3M |
| Net borrowing | -$4M | $6M | $77M | $1.3B | — | — | — | — | — | — |
| Free cash flow margin | 6.7% | 7.4% | 6.4% | 0.6% | 0.6% | 2.7% | -0.2% | 2.1% | 2.0% | 2.7% |
| Dividends per share | $1.32 | $1.43 | $1.49 | $1.36 | — | — | — | — | — | — |
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What was USA TODAY Co.'s revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does USA TODAY Co. generate?
$63M in fiscal 2025 (operating cash flow minus capital spending).
From USA TODAY Co.'s annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.