New York Times (NYT) FY2024 results: revenue $2.6 billion, up 6.6% on the year

New York Times Co. (NYT) reported revenue of $2.6 billion for fiscal 2024, the year ended 31 December 2024, up 6.6% on the year before. Net income was $294 million, up 26.4%, and diluted earnings per share $1.77. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$2.6 billion

+6.6% on the year

FY2017FY2024

Operating margin

13.6%

11.4% a year earlier

FY2017FY2024

Net income

$294 million

+26.4% on the year

FY2017FY2024

Diluted EPS

$1.77

+26.4% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,586	2,426	2,308	+6.6%
Cost of revenue	1,310	1,249	1,209	+4.8%
Gross profit	1,276	1,177	1,099	+8.4%
Gross margin	49.4%	48.5%	47.6%
Research and development	248	229	204	+8.5%
Operating income	351	276	202	+27.1%
Operating margin	13.6%	11.4%	8.7%
Pre-tax income	383	303	236	+26.7%
Income tax	89.6	69.8	62.1	+28.3%
Effective tax rate	23.4%	23.1%	26.3%
Net income	294	232	174	+26.4%
Net margin	11.4%	9.6%	7.5%
Diluted EPS	$1.77	$1.40	$1.04	+26.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	411	361	151	+13.8%
Capital expenditure	29.2	22.7	37.0	+28.7%
Free cash flow	381	338	114	+12.8%
Free cash flow margin	14.7%	13.9%	4.9%
Cash from investing	-306	-160	-73.6
Cash from financing	-193	-133	-174
Depreciation and amortisation	82.9	86.1	82.7	-3.7%
Share-based compensation	67.5	54.8	35.3	+23.2%
Buybacks	85.0	44.6	105	+90.9%
Dividends paid	82.9	69.5	56.8	+19.3%
Dividend per share	$0.52	$0.44	$0.36	+18.2%
Diluted shares, weighted	166m	166m	167m	+0.1%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,927	1,763	1,598	+9.3%
Non-controlling interest	n/a	0.0	2.0
Debt	0.0	0.0	0.0
Operating lease liabilities	37.3	42.9	59.1	-13.2%
Other liabilities	877	908	875	-3.5%
Total liabilities and equity	2,841	2,715	2,534	+4.7%
Fixed assets	n/a	514	554
Goodwill	412	416	414	-0.9%
Intangible assets	258	285	317	-9.6%
Investments	712	420	265	+69.7%
Cash and equivalents	199	289	221	-31.1%
Receivables	250	242	218	+2.9%
Other assets	1,010	547	545	+84.6%
Total assets	2,841	2,715	2,534	+4.7%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.