USA TODAY Co., Inc.
TDAY · Newspapers: Publishing or Publishing & Printing · 146.7M shares · +20%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$14M (gross $3M, SBC $17M)
Reference price $3.20 · est. market cap ~$469M — last insider purchase, 2025-05-06 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50Secularly declining newspaper/digital-marketing company with near-zero returns and very high leverage.
Strengths
- Positive FCF $62.9M (62nd pct) and growing digital mix (46% of revenue)
- Reduced debt $135.5M during the year
Risks
- Near-breakeven: net margin 0.08%, ROE 1.1%, ROA 0.1%; revenue -8.3% and net income -107%
- Debt/equity 6.15 (97th pct) with debt concentrated in one creditor; print secular decline and AI-platform traffic risk
Notable findings
- High leverageHigh leverage (debt/equity 6.15)
- Weak liquidityCurrent ratio 0.75 (<1)
- Chronic dilutionShare count +20%/yr over 4y (dilution, book value/share -86%)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
38.7%
Net margin
0.1%
Return on equity
1.1%
Return on assets
0.1%
Revenue growth (QoQ)
-6.2%
Debt / equity
6.2×
Current ratio
0.8×
Free cash flow
$63M
Tangible book value
-$701M
Cash & investments
$90M
Stock comp / revenue
0.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-02 | Al-Emam Maha | Grant | 16K | — |
| 2026-06-02 | Reinhard Amy | Grant | 16K | — |
| 2026-06-02 | WALL BARBARA W. | Grant | 16K | — |
| 2026-06-02 | Sandler Debra A. | Grant | 16K | — |
| 2026-06-02 | Louis John Jeffry | Grant | 16K | — |
| 2026-06-02 | JANULIS THEODORE PETER | Grant | 16K | — |
| 2026-06-02 | SHEEHAN KEVIN M | Grant | 16K | — |
| 2026-03-31 | Louis John Jeffry | Grant | 4.3K | — |
| 2026-03-24 | Gosser Trisha | Tax withheld | 7.8K | $6.70 |
| 2026-03-24 | Gallagher Cindy | Tax withheld | 6.3K | $6.70 |
| 2026-03-24 | Reed Michael | Tax withheld | 139K | $6.70 |
| 2025-12-31 | Reinhard Amy | Grant | 2.9K | $5.15 |
| 2025-12-31 | Louis John Jeffry | Grant | 5.8K | $5.15 |
| 2025-09-30 | Reinhard Amy | Grant | 3.6K | $4.13 |
| 2025-09-30 | Louis John Jeffry | Grant | 7.3K | $4.13 |
| 2025-08-06 | Gosser Trisha | Option exercise | 10K | — |
| 2025-08-06 | Gosser Trisha | Tax withheld | 3.3K | $4.12 |
| 2025-08-06 | Gallagher Cindy | Option exercise | 9.1K | — |
| 2025-08-06 | Gallagher Cindy | Tax withheld | 2.7K | $4.12 |
| 2025-08-06 | Reed Michael | Option exercise | 113K | — |
| 2025-08-06 | Reed Michael | Tax withheld | 58K | $4.12 |
| 2025-06-30 | Reinhard Amy | Grant | 4.2K | $3.58 |
| 2025-06-30 | Louis John Jeffry | Grant | 8.4K | $3.58 |
| 2025-06-15 | Gosser Trisha | Tax withheld | 8.7K | $3.40 |
| 2025-06-03 | Louis John Jeffry | Grant | 36K | — |
| 2025-06-03 | Reinhard Amy | Grant | 36K | — |
| 2025-06-03 | SHEEHAN KEVIN M | Grant | 36K | — |
| 2025-06-03 | Tarica Laurence | Grant | 36K | — |
| 2025-06-03 | WALL BARBARA W. | Grant | 36K | — |
| 2025-06-03 | Sandler Debra A. | Grant | 36K | — |
| 2025-06-03 | JANULIS THEODORE PETER | Grant | 36K | — |
| 2025-06-03 | Al-Emam Maha | Grant | 36K | — |
| 2025-05-06 | Reed Michael | Buy | 6.0K | $3.20 |
| 2025-05-05 | Reed Michael | Buy | 27K | $3.25 |
| 2025-03-31 | Louis John Jeffry | Grant | 9.0K | $2.89 |
| 2025-03-31 | Reinhard Amy | Grant | 4.3K | $2.89 |
| 2025-03-24 | Reed Michael | Tax withheld | 195K | $3.15 |
| 2025-03-24 | Reed Michael | Grant | 185K | — |
| 2025-03-24 | Reed Michael | Tax withheld | 89K | $3.15 |
| 2025-03-24 | Gallagher Cindy | Tax withheld | 12K | $3.15 |
| 2025-03-24 | Gosser Trisha | Tax withheld | 14K | $3.15 |
| 2024-12-31 | Louis John Jeffry | Grant | 4.9K | $5.06 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-01 | 2026-06-01 | 0001579684-26-000040 ↗ |
| 8-K | 2026-05-12 | 2026-05-05 | 0001579684-26-000037 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001579684-26-000031 ↗ |
| 10-Q | 2026-04-30 | 2026-03-31 | 0001579684-26-000033 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001579684-26-000008 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001579684-26-000010 ↗ |
| 8-K | 2025-11-18 | 2025-11-14 | 0001579684-25-000083 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001579684-25-000075 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001579684-25-000077 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0001579684-25-000061 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0001579684-25-000064 ↗ |
| 8-K | 2025-06-02 | 2025-06-02 | 0001579684-25-000035 ↗ |