USA TODAY (TDAY) opened Q1 2026 reporting Q4 2025 revenue of US$585.0 million and a basic EPS loss of US$0.21, with net income excluding extra items at a loss of US$30.1 million. The trailing twelve months to Q4 2025 showed total revenue of about US$2.3 billion and basic EPS of US$0.01. Over recent quarters the company has reported revenue between US$560.8 million and US$621.3 million, with EPS ranging from a profit of US$0.54 in Q2 2025 to several loss-making quarters. Investors are likely to focus on how these movements affect margins and the quality of underlying earnings.

See our full analysis for USA TODAY.

With the latest results on the table, the next step is to compare these numbers with the most common narratives around USA TODAY to see which views fit the data and which ones appear less consistent.

Trailing 12 months just barely profitable

• Over the last 12 months, USA TODAY reported total revenue of about US$2.3 billion and net income excluding extra items of US$1.7 million, which works out to basic EPS of roughly US$0.01.
• Consensus narrative points to analysts expecting earnings to reach US$108.5 million by about 2029 with profit margins rising from about 0.1% to 4.9%. This contrasts with the very slim profit in the latest trailing period and highlights how much improvement is embedded in that view.
  • That future earnings figure would be a large step up from the US$1.7 million net income reported in the trailing 12 months, so anyone leaning on the consensus view is relying on a significant margin shift from current levels.
  • At the same time, analysts expect revenue to decline by around 1.6% per year, so the consensus case leans heavily on cost control and mix, not on a bigger top line, which is different from what many beginners might assume when they see higher earnings forecasts.

Volatile EPS, but 67.9% growth trend

• Quarterly basic EPS moved between a loss of US$0.27 in Q3 2025 and a profit of US$0.54 in Q2 2025. Yet over the last five years earnings are reported to have grown at about 67.9% per year, and the trailing 12 months show the company back in profit.
• Bulls argue that earnings can keep growing quickly, with forecasts at about 61.8% per year, even while revenue is expected to decline by around 1.3% per year. They also note that this earnings focus is supported by initiatives like AI licensing and higher margin digital products.
  • The bullish case leans on new digital and AI content licensing arrangements to support that earnings growth, which is a different angle from the raw EPS swings that still show several loss making quarters in 2025.
  • That view also assumes the recent one off loss of US$13.6 million that affected the trailing 12 months will not repeat at the same scale, so it treats the slim trailing profit as a starting point rather than a ceiling.

On these numbers, some investors want to see how the optimistic story holds up when every assumption is stress tested against the filings and forecasts, and that is where the bull case breakdown becomes useful 🐂 USA TODAY Bull Case

Low P/S and DCF value vs US$7.23 price

• Shares trade at US$7.23 with a P/S of about 0.5x, compared with 0.9x for peers and 1.1x for the wider US media industry, and a stated DCF fair value of about US$21.30, while the analyst price target referenced here is US$8.21.
• Bears point out that interest payments are not well covered by earnings and that revenue is forecast to decline. They see that as a key reason why the current price sits well below the DCF fair value even though traditional valuation measures look inexpensive.
  • Weak interest coverage means even a small setback in earnings could have a larger impact on equity value than the low P/S and DCF gap might suggest at first glance.
  • With revenue expected to shrink and digital already a large share of the mix, the cautious view is that the valuation gap may reflect these financing and top line pressures rather than a simple market mispricing.

For readers who want to see how those financing pressures and revenue trends feed into a more cautious story, there is a dedicated bear case that walks through the numbers and assumptions in detail 🐻 USA TODAY Bear Case

Next Steps

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

Mixed feelings about the story so far? Take a moment to review the figures yourself, pressure test the narratives, and then weigh up the 4 key rewards and 2 important warning signs.

See What Else Is Out There

USA TODAY is working with thin profit margins, several recent loss making quarters, and interest costs that current earnings do not comfortably cover.

If those pressures on profitability and debt coverage concern you, compare this situation with companies that score well on balance sheet strength and cash flow resilience through the solid balance sheet and fundamentals stocks screener (45 results).

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.