iHeartMedia, Inc. IHRT
iHeartMedia is the number one audio media company in the U.S. based on consumer reach.
•The ‘music collection' sector, which essentially replaced downloads and CDs, and
•The ‘companionship' sector, in which people regard radio and podcasting personalities as their trusted friends and companions on whom they rely to provide coverage on everything from entertainment, local news, storytelling, information about new music and artists, weather, traffic, sports and more.
We operate in the second sector and use our large scale and national reach in broadcast radio to build additional complementary platforms. We believe we are the only major multi-platform audio media company, and each platform is complementary to the others, building on and extending our companionship relationship with the consumer.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.86B | $3.85B | $3.75B | $3.91B | $3.56B | $2.95B | — | $3.61B | $3.58B | $4.89B |
| SG&A | $1.69B | $1.69B | $1.66B | $1.59B | $1.52B | $1.40B | — | $1.35B | $1.35B | $1.73B |
| Total operating expenses | — | — | $3.05B | $2.96B | $2.75B | $2.41B | — | — | — | — |
| Operating income | -$20.6M | -$763.1M | -$797.3M | $56.9M | $154.9M | -$1.74B | — | $690.1M | $700.8M | $1.50B |
| Interest expense | — | — | — | — | — | — | — | $722.9M | $1.86B | $1.85B |
| Pre-tax income | -$473.7M | -$1.17B | -$1.16B | -$259.9M | -$150.0M | -$2.10B | — | -$24.1M | -$833.2M | -$296.2M |
| Income tax | $1.8M | $158.4M | $62.3M | $4.7M | $8.4M | $183.6M | $39.1M | $13.8M | $177.2M | $49.6M |
| Net income | -$472.9M | -$1.01B | -$1.10B | -$264.7M | -$159.2M | -$1.91B | — | -$201.9M | -$398.1M | -$302.1M |
| EPS, basic | -3.06 | -6.68 | -7.39 | -1.79 | -1.09 | -13.12 | — | -2.36 | -4.68 | -3.57 |
| EPS, diluted | -3.06 | -6.68 | -7.39 | -1.79 | -1.09 | -13.12 | — | -2.36 | -4.68 | -3.57 |
| Shares, diluted (wtd. avg.) | $154.3M | $151.3M | $149.3M | $148.1M | $146.7M | $146.0M | — | $85.4M | $85.0M | $84.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $270.9M | $259.6M | $346.4M | $336.7M | $352.6M | $721.2M | $411.6M | $63.1M | $311.3M | $855.7M |
| Receivables | $959.4M | $993.3M | $1.04B | $1.04B | $1.03B | $801.4M | $902.9M | $737.5M | $1.51B | $1.36B |
| Inventory | — | — | — | — | $3.2M | $1.2M | $507.0K | $355.0K | $22.5M | $22.1M |
| Total current assets | $1.46B | $1.36B | $1.51B | $1.47B | $1.47B | $1.62B | $1.42B | $932.3M | $2.07B | $2.50B |
| Property, plant and equipment | — | — | — | — | — | — | $846.9M | $502.2M | $1.88B | $1.95B |
| Goodwill | $1.11B | $1.11B | $1.72B | $2.31B | $2.31B | $2.15B | $3.33B | $3.32B | $3.34B | $4.07B |
| Other intangibles | $713.8M | $927.6M | $1.17B | $1.42B | $1.67B | $1.92B | $2.18B | $2.35B | $550.1M | $740.5M |
| Total assets | $5.13B | $5.57B | $6.95B | $8.34B | $8.88B | $9.20B | $11.02B | $10.71B | $12.26B | $12.85B |
| Accounts payable | $271.4M | $253.3M | $236.2M | $240.5M | $206.0M | $149.3M | $117.3M | $44.9M | $163.4M | $142.6M |
| Short-term debt | $73.4M | $22.5M | $340.0K | $664.0K | $673.0K | $34.8M | $8.9M | $53.2M | $14.97B | $342.9M |
| Total current liabilities | $967.4M | $870.3M | $848.4M | $831.8M | $849.4M | $717.8M | $667.4M | $480.1M | $16.35B | $1.67B |
| Long-term debt | $4.98B | $5.05B | $5.21B | $5.41B | $5.74B | $5.98B | $5.76B | $5.76B | $5.68B | $20.02B |
| Retained earnings | -$4.81B | -$4.34B | -$3.33B | -$2.23B | -$1.96B | -$1.80B | $112.5M | $0 | -$13.14B | -$12.73B |
| Total equity | -$1.83B | -$1.37B | -$384.8M | $684.5M | $915.8M | $1.05B | $2.95B | -$11.56B | -$11.34B | -$10.90B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $92.6M | $71.4M | $213.1M | $420.1M | $330.6M | $215.9M | — | $966.7M | -$491.2M | -$15.8M |
| Depreciation and amortisation | $360.0M | $409.6M | $428.5M | $445.7M | $469.4M | $402.9M | — | $212.0M | $275.3M | $635.2M |
| Stock-based compensation | $19.6M | $28.6M | $34.6M | $35.5M | $23.5M | $22.5M | — | $2.1M | $2.5M | $13.1M |
| Capital expenditure | $81.7M | $97.6M | $102.7M | $161.0M | $183.4M | $85.2M | — | $85.2M | $67.7M | $314.7M |
| Investing cash flow | -$66.2M | $508.0K | -$51.3M | -$129.2M | -$346.8M | -$147.8M | — | -$345.5M | -$214.7M | $533.5M |
| Financing cash flow | -$15.3M | -$158.3M | -$152.2M | -$306.1M | -$352.1M | $241.2M | — | -$491.8M | $151.3M | -$418.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-013221.
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