Is TEGNA, Inc. overvalued or undervalued?

As of 17 October 2025, TEGNA, Inc. has moved from a fair to an expensive valuation grade, indicating that the stock is currently overvalued. The company's P/E ratio stands at 9, which is lower than its peer Nexstar Media Group, Inc. at 12.56, but higher than Sirius XM Holdings, Inc. at 6.62. Additionally, TEGNA's EV to EBITDA ratio is 7.71, again lower than Nexstar's 6.83, suggesting a relatively less favorable valuation compared to its peers.
With a PEG ratio of 0.42 and a dividend yield of 2.25%, TEGNA shows some attractive features; however, the overall valuation metrics indicate that it is overvalued in the current market context. In the past year, TEGNA has returned 19.60%, outperforming the S&P 500's 14.08%, but its longer-term performance over three and five years reveals significant underperformance compared to the benchmark.