A Business at a Glance
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Clear Channel Outdoor Holdings, Inc.
CCO
$1.2B
Mkt Cap
$2.41
+0.00%
Clear Channel Outdoor Holdings, Inc. (CCO) has a current P/E ratio of 60.3, compared to its historical median P/E of 33.5. The stock is currently considered Expensive based on its historical valuation range.
Clear Channel Outdoor Holdings, Inc. (CCO) has a 5-year average return on invested capital (ROIC) of 8.2%. This is below average and may indicate limited pricing power.
Clear Channel Outdoor Holdings, Inc. (CCO) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Clear Channel Outdoor Holdings, Inc. (CCO) does not currently pay a regular dividend.
Based on historical P/E analysis, Clear Channel Outdoor Holdings, Inc. (CCO) appears expensive. The current P/E of 60.3 is 80% above its historical median of 33.5. The estimated fair value CAGR (P/E method) is -27.2%.
Clear Channel Outdoor Holdings, Inc. (CCO) operates in the Services-Advertising industry, within the Industrials sector.
ITEM 1. BUSINESS Clear Channel Outdoor Holdings, Inc. (the “Company”) is a leading provider of out-of-home (“OOH”) advertising solutions, offering advertisers impactful and innovative opportunities to reach mass audiences across a variety of high-traffic public spaces. By leveraging the scale, reach and flexibility of our diverse portfolio of assets—including roadside billboards, street furniture and airport displays—we connect advertisers with millions of consumers every month. We believe we are at the forefront of driving innovation in the OOH advertising industry, and our dynamic advertising platform continues to attract a broader pool of advertisers through the expansion of our network of digital displays and the integration of data analytics, programmatic tools and other technologies to deliver measurable campaigns that are simpler to buy. Our common stock is listed on the New York Stock Exchange under the symbol “CCO.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.6B | 1.6B | 1.5B | 1.4B | 1.4B | 1.8B |
| Net Income | -91M | 20M | -179M | -311M | -97M | -434M |
| EPS | $-0.18 | $0.04 | $-0.37 | $-0.65 | $-0.20 | $-0.93 |
| Free Cash Flow | 30M | 32M | -63M | -135M | -45M | -282M |
| ROIC | 16.2% | 10.4% | 10.6% | 8.4% | 9.4% | 2.1% |
| Gross Margin | - | 53.4% | 54.8% | 54.0% | 57.4% | 49.8% |
| Debt/Equity | 0.00 | -1.91 | -1.93 | -1.96 | -2.15 | -2.26 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 305M | 311M | 279M | 217M | 256M | 59M |
| Operating Margin | 18.6% | 19.4% | 18.5% | 15.1% | 18.5% | 3.3% |
| ROE | 0.0% | -0.6% | 5.1% | 9.3% | 3.0% | 14.5% |
| Shares Outstanding | 515M | 498M | 484M | 478M | 483M | 466M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.0B | 2.8B | 2.7B | 2.6B | 2.7B | 2.7B | 1.9B | 1.8B | 1.4B | 1.4B | 1.5B | 1.6B | 1.6B |
| Gross Margin | 46.1% | 46.7% | 47.1% | 45.5% | 46.0% | 45.9% | 35.2% | 49.8% | 57.4% | 54.0% | 54.8% | 53.4% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 549M | 532M | 515M | 499M | 523M | 521M | 442M | 330M | 231M | 235M | 253M | 262M | 265M |
| EBIT | 282M | 261M | 632M | 232M | 252M | 253M | -292M | 59M | 256M | 217M | 279M | 311M | 305M |
| Op. Margin | 9.5% | 9.3% | 23.6% | 9.0% | 9.3% | 9.4% | -15.8% | 3.3% | 18.5% | 15.1% | 18.5% | 19.4% | 18.6% |
| Net Income | -9.6M | -96M | 135M | -644M | -218M | -363M | -583M | -434M | -97M | -311M | -179M | 20M | -91M |
| Net Margin | -0.3% | -3.4% | 5.0% | -24.9% | -8.0% | -13.5% | -31.4% | -24.5% | -7.0% | -21.7% | -11.9% | 1.2% | -5.5% |
| Non-Recurring | 7.8M | 5.5M | 371M | 31M | 3.4M | 1.9M | 90M | 34M | 13M | -100M | -29M | 135M | 135M |
| Returns on Capital | |||||||||||||
| ROIC | 6.0% | 6.0% | 10.9% | 6.7% | 8.0% | 6.7% | -20.2% | 2.1% | 9.4% | 8.4% | 10.6% | 10.4% | 16.2% |
| ROE | -100.1% | 27.0% | -17.8% | 45.9% | 11.0% | 17.5% | 24.1% | 14.5% | 3.0% | 9.3% | 5.1% | -0.6% | 0.0% |
| ROA | -0.1% | -1.5% | 2.2% | -12.4% | -4.7% | -6.7% | -9.6% | -7.8% | -1.9% | -6.3% | -3.8% | 0.5% | -2.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 348M | 299M | 309M | 160M | 187M | 215M | -138M | -133M | 140M | 31M | 80M | 115M | 103M |
| Free Cash Flow | 117M | 81M | 79M | -64M | -24M | -18M | -262M | -282M | -45M | -135M | -63M | 32M | 30M |
| Owner Earnings | -66M | -86M | -46M | -175M | -140M | -111M | -420M | -366M | -55M | -186M | -120M | -86M | -96M |
| CapEx | 231M | 218M | 230M | 224M | 211M | 232M | 124M | 148M | 185M | 167M | 142M | 83M | 73M |
| Maint. CapEx | 406M | 376M | 344M | 326M | 319M | 309M | 269M | 213M | 174M | 197M | 174M | 175M | 173M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11M | 0 | 0 | 0 | 0 |
| D&A | 406M | 376M | 344M | 326M | 319M | 309M | 269M | 213M | 174M | 197M | 174M | 175M | 173M |
| CapEx/OCF | 66.3% | 73.0% | 74.5% | 140.0% | 112.7% | 103.1% | N/A | N/A | 131.9% | 533.0% | 178.6% | 72.2% | 71.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 175M | 0 | 756M | 333M | 31M | 740K | 405K | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 13.3% | N/A | 47.1% | 21.1% | 1.7% | 0.0% | 0.1% | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 234K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 7.7M | 8.5M | 10M | 9.6M | 8.5M | 16M | 13M | 19M | 21M | 20M | 26M | 26M | 26M |
| Debt Repayment | 48K | 56K | 2.3M | 748K | 632K | 5.7B | 75M | 2.0B | 21M | 684M | 1.6B | 2.6B | 2.6B |
| Balance Sheet | |||||||||||||
| Net Debt | 4.7B | 4.7B | 4.6B | 5.1B | 5.1B | 6.6B | 6.5B | 6.8B | 6.7B | 6.6B | 6.9B | 6.3B | 4.9B |
| Cash & Equiv. | 186M | 413M | 542M | 144M | 182M | 399M | 785M | 411M | 282M | 172M | 110M | 190M | 182M |
| Long-Term Debt | 4.9B | 5.1B | 5.1B | 5.3B | 5.3B | 5.1B | 5.6B | 5.6B | 5.5B | 5.6B | 5.7B | 5.1B | 5.1B |
| Debt/Equity | -35.01 | -8.97 | -5.40 | -2.83 | -2.51 | -3.42 | -2.61 | -2.26 | -2.15 | -1.96 | -1.93 | -1.91 | 0.00 |
| Interest Coverage | 0.8 | 0.7 | 1.7 | 0.6 | 0.6 | 0.6 | -0.8 | 0.2 | 0.8 | 0.5 | 0.7 | 0.8 | 0.8 |
| Equity | -141M | -570M | -947M | -1.9B | -2.1B | -2.1B | -2.8B | -3.2B | -3.3B | -3.5B | -3.6B | -3.4B | -3.4B |
| Total Assets | 6.3B | 6.3B | 5.7B | 4.7B | 4.5B | 6.4B | 5.8B | 5.3B | 5.1B | 4.7B | 4.8B | 3.8B | 3.7B |
| Total Liabilities | 6.2B | 946M | 821M | 6.4B | 6.5B | 8.3B | 8.5B | 8.5B | 8.3B | 8.2B | 8.4B | 7.2B | 7.2B |
| Intangibles | 412M | 343M | 300M | 274M | 253M | 163M | 130M | 110M | 813M | 742M | 667M | 588M | 588M |
| Retained Earnings | -4.2B | -4.3B | -4.1B | -4.8B | -5.0B | -5.3B | -5.9B | -6.4B | -6.5B | -6.8B | -7.0B | -6.9B | -7.0B |
| Working Capital | 346M | 647M | 700M | 317M | 286M | 21M | 245M | 22M | -624K | 74M | 387M | 175M | 148M |
| Current Assets | 1.1B | 1.6B | 1.3B | 974M | 1.0B | 1.2B | 1.3B | 1.1B | 1.1B | 957M | 1.7B | 793M | 734M |
| Current Liabilities | 718M | 921M | 642M | 658M | 730M | 1.2B | 1.1B | 1.1B | 1.1B | 884M | 1.3B | 618M | 586M |
| Per Share Data | |||||||||||||
| EPS | -0.03 | -0.27 | 0.37 | -1.78 | -0.60 | -0.88 | -1.25 | -0.93 | -0.20 | -0.65 | -0.37 | 0.04 | -0.18 |
| Owner EPS | -0.21 | -0.24 | -0.13 | -0.48 | -0.39 | -0.27 | -0.90 | -0.78 | -0.11 | -0.39 | -0.25 | -0.17 | -0.19 |
| Book Value | -0.44 | -1.60 | -2.59 | -5.13 | -5.78 | -4.98 | -5.97 | -6.85 | -6.76 | -7.21 | -7.51 | -6.81 | -6.68 |
| Cash Flow/Share | 1.09 | 0.84 | 0.85 | 0.44 | 0.51 | 0.52 | -0.30 | -0.29 | 0.29 | 0.07 | 0.16 | 0.23 | 0.16 |
| Dividends/Share | 0.55 | 0.00 | 2.07 | 0.92 | 0.08 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 319.7M | 355.5M | 365.1M | 362.0M | 363.7M | 412.8M | 466.2M | 466.5M | 483.0M | 478.3M | 484.5M | 498.5M | 514.6M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 10.8 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 56.3 | -13.6 |
| P/FCF | 14.3 | 12.7 | 18.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 35.1 | 41.6 |
| EV/EBIT | 22.7 | 21.9 | 9.6 | 29.3 | 27.0 | 21.7 | N/A | N/A | 20.4 | 28.5 | 21.8 | 18.8 | 20.2 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 0.4 | 0.6 | 0.6 | 0.6 | 0.7 | 0.6 | 0.3 | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 | 0.8 |
| FCF Yield | 7.0% | 7.9% | 5.4% | -3.8% | -1.3% | -1.5% | -33.9% | -18.1% | -9.2% | -15.0% | -9.6% | 2.9% | 2.4% |
| Market Cap | 1.7B | 1.0B | 1.5B | 1.7B | 1.9B | 1.2B | 774M | 1.6B | 488M | 899M | 654M | 1.1B | 1.2B |
| Avg. Price | 4.13 | 4.67 | 4.39 | 4.35 | 4.97 | 4.03 | 1.35 | 2.46 | 2.09 | 1.40 | 1.57 | 1.37 | 2.41 |
| Year-End Price | 5.23 | 2.88 | 4.01 | 4.62 | 5.18 | 2.85 | 1.66 | 3.34 | 1.01 | 1.88 | 1.35 | 2.25 | 2.41 |
Clear Channel Outdoor Holdings, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
Clear Channel Outdoor Holdings, Inc. trades at 60.3x trailing earnings, compared to its 15-year median P/E of 33.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 37.6x vs a median of 26.8x. The company's 5-year average ROIC is 8.2% with a gross margin of 53.9%. At current prices, the estimated annualized return to fair value is -26.7%.
Clear Channel Outdoor Holdings, Inc. (CCO) reported annual revenue of $1.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Clear Channel Outdoor Holdings, Inc. (CCO) has a net profit margin of 1.2%. This is a modest margin.
Clear Channel Outdoor Holdings, Inc. (CCO) generated $32 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Clear Channel Outdoor Holdings, Inc. (CCO) reported earnings per share (EPS) of $0.04 in its most recent fiscal year.
Clear Channel Outdoor Holdings, Inc. (CCO) has a return on equity (ROE) of -0.6%. A negative ROE may indicate losses or negative equity.
Clear Channel Outdoor Holdings, Inc. (CCO) has a 5-year average gross margin of 53.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for Clear Channel Outdoor Holdings, Inc. (CCO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Clear Channel Outdoor Holdings, Inc. (CCO) has a book value per share of $-6.81, based on its most recent annual SEC filing.