New York Times (NYT) opened 2026 with Q1 revenue of US$712.2 million and basic EPS of US$0.54, compared with US$629.2 million of revenue and EPS of US$0.30 in the same quarter a year ago. Over the trailing twelve months, revenue has moved from US$2.56 billion to US$2.87 billion while basic EPS shifted from US$1.79 to US$2.35, setting the backdrop for investors focused on earnings momentum. With net profit margins higher over the last year than the year before, the latest numbers point to a business where profitability is becoming a more central part of the story for shareholders.

See our full analysis for New York Times.

With the headline figures in place, the next step is to see how these results line up against the dominant narratives around New York Times and where the numbers start to challenge prevailing views.

TTM earnings up 26.2% with higher margins

• Over the last 12 months, net income reached US$382.4 million with basic EPS of US$2.35, compared with US$343.0 million and EPS of US$2.11 in the prior 12 month period, and net profit margin sat at 13.3% versus 11.6% a year earlier.
• Supporters of the bullish view point out that trailing earnings growth of 26.2% and a net margin of 13.3% line up with a story of stronger profit power, yet:
  • Five year earnings growth of 19.5% a year is slower than the latest 12 month pace, so bulls are leaning on the idea that the recent step up is sustainable.
  • Forecast earnings growth of about 11.5% a year is below the recent 26.2% result, which means the current data is stronger than the growth path those bullish expectations are built on.

Investors who want to see how those profit trends feed into a more optimistic long term story can go deeper into the bullish case here 🐂 New York Times Bull Case

Premium 35.4x P/E with DCF support

• The stock trades on a P/E of 35.4x against a US media industry average of 14.8x and a peer average of 24x, while the current share price of US$83.68 sits below the DCF fair value of US$93.22 that has been supplied.
• Bears focus on the high 35.4x P/E relative to both industry and peers, arguing that any slowdown in profit growth could pressure that multiple, yet:
  • The provided DCF fair value of US$93.22 is above the current price of US$83.68, so the valuation model in the data does not point to excess pricing at today’s level even with the higher multiple.
  • Earnings growth of 26.2% over the last year is higher than the 11.5% annual growth rate in the supplied forecasts, so critics of the bearish view may note that the recent track record is stronger than the forward assumptions used to justify concern about a rich multiple.

Skeptical investors who see the 35.4x P/E as a red flag may want to contrast these numbers with the more cautious case in the bearish narrative 🐻 New York Times Bear Case

Quarterly run rate versus TTM strength

• Q1 2026 revenue of US$712.2 million and net income of US$87.9 million sit against trailing 12 month revenue of US$2.87b and net income of US$382.4 million, so the latest quarter represents roughly one quarter of the revenue run rate and slightly under one quarter of the trailing net income.
• Analysts’ consensus style narrative in the supplied text highlights digital bundles and partnerships as key supports for recurring revenue, and the numbers frame that as follows:
  • Revenue over the trailing 12 months of US$2.87b is higher than the US$2.56b level a year earlier, which matches the idea that subscription and related lines are contributing to a larger top line base.
  • Net profit margin at 13.3% on that US$2.87b revenue compares with 11.6% a year earlier in the data, consistent with the claim that higher margin digital products are helping overall profitability.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for New York Times on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

Sitting between stronger earnings and a premium valuation, this story draws mixed reactions, so it is worth checking the full data set yourself and weighing both the 3 key rewards and 1 important warning sign

See What Else Is Out There

For all the strong recent figures, New York Times still carries a premium 35.4x P/E that depends heavily on earnings momentum holding up against softer forecasts.

If that kind of rich multiple makes you cautious, it is worth checking companies that combine stronger value signals with quality fundamentals by starting with the 44 high quality undervalued stocks.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.