New York Times (NYT) is back in focus after reporting second quarter and first half 2026 results that showed higher revenue, net income and earnings per share compared with the same periods a year earlier.

Despite the improved second quarter results and ongoing share repurchases, New York Times’ recent 30 day share price return is down 14.3% and the 90 day share price return is down 12.46%, although the 1 year total shareholder return of 10.3% and 3 year total shareholder return of 58.57% point to stronger performance over a longer horizon.

If this earnings update has you thinking more broadly about where growth stories can come from next, it may be worth scanning the market using the 21 top founder-led companies.

New York Times now pairs stronger recent earnings with a share price that has pulled back over the past quarter. Does that set up a more attractive entry today, or does it argue for patience while the valuation case becomes clearer?

Most Popular Narrative: 22.5% Undervalued

At a last close of $65.07, the most followed narrative for New York Times points to a fair value of $84, which implies a meaningful valuation gap based on its long term earnings power and margin assumptions.

Robust growth in digital subscriptions driven by an expanding portfolio of bundled offerings (news, Cooking, Games, The Athletic) and a focus on direct consumer relationships positions the company to capture more recurring revenue, strengthen ARPU, and reduce churn; this directly supports long-term revenue and margin expansion.

Want to see what sits behind that subscription thesis? The narrative focuses on compounding revenue, wider margins, and a richer earnings mix. The exact hurdles might surprise you.

Result: Fair Value of $84 (UNDERVALUED)

However, the New York Times narrative still carries real risk if platform driven traffic keeps shrinking or if aggressive promotional pricing leads to weaker long term subscription economics.

Another View On New York Times Using Market Multiples

The analyst narrative points to New York Times trading 22.5% below an $84 fair value. Yet on a P/E basis the stock looks expensive. The current P/E is 26.7x, compared with 22.9x for the wider US Media industry and 16x across peers, and a fair ratio of 19.6x.

Those gaps mean investors are already paying a premium for New York Times compared with both its sector and similar companies. If the story playing out is closer to the peer or fair ratio, that premium could narrow rather than widen. This raises the question: which version of value do you trust?

Next Steps

With sentiment on New York Times pulling in different directions, it helps to see the numbers for yourself and weigh the trade off between risk and reward. To understand what investors are optimistic about right now, take a closer look at the 3 key rewards.

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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.