OUTFRONT Media Inc. OUT
OUTFRONT Media is a real estate investment trust ("REIT") that provides advertising space ("displays") on out-of-home advertising structures and sites in the United States (the "U.S."), enabling advertisers to engage with audiences in high-impact in-real-life ("IRL") moments and environments. We are one of the largest providers of advertising space on out-of-home advertising structures and sites across the U.S. Our inventory consists of billboard displays primarily located on the most heavily traveled highways and roadways in top Nielsen Designated Market Areas ("DMAs"), and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S. In total, we have displays in approximately 120 markets across the U.S., including the 25 largest markets in the U.S. Our top market, location-focused portfolio includes sites in and around New York City, Los Angeles and San Francisco, where public spaces can turn into platforms for creativity, connection and cultural relevance. The breadth and depth of our portfolio provides our customers with a range of options to address their marketing objectives by elevating brand influence and credibility through enterprise or commercial brand-building campaigns.
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 | $1.83B | $1.83B | $1.82B | $1.77B | $1.46B | $1.24B | $1.78B | $1.61B | $1.52B | $1.51B |
| SG&A | $441.7M | $447.9M | $429.7M | $422.1M | $368.2M | $315.1M | $371.7M | $330.2M | $261.7M | $264.8M |
| Total operating expenses | $1.54B | $1.41B | $2.07B | $1.49B | $1.30B | $1.16B | $1.47B | $1.37B | $1.28B | $1.31B |
| Operating income | $293.5M | $425.5M | -$253.2M | $282.5M | $168.3M | $72.5M | $309.1M | $234.8M | $241.7M | $204.9M |
| Interest expense | — | — | $158.4M | $131.8M | $130.4M | $131.1M | $134.9M | $125.7M | $116.9M | $113.8M |
| Pre-tax income | $146.5M | $269.1M | -$419.4M | $150.5M | $31.6M | -$58.5M | $145.8M | $108.7M | $125.1M | $91.0M |
| Income tax | $2.0M | $11.0M | $4.0M | $9.4M | $3.4M | $1.1M | $10.9M | $4.9M | $4.1M | $5.4M |
| Net income | $147.0M | $258.2M | -$425.2M | $147.9M | $35.6M | -$61.0M | $140.1M | $107.9M | $125.8M | $90.9M |
| EPS, basic | 0.83 | 1.54 | -2.70 | 0.83 | 0.05 | -0.56 | 0.97 | 0.76 | 0.90 | 0.66 |
| EPS, diluted | 0.82 | 1.51 | -2.70 | 0.83 | 0.05 | -0.56 | 0.97 | 0.75 | 0.90 | 0.66 |
| Shares, diluted (wtd. avg.) | $169.2M | $170.8M | $161.0M | $157.9M | $146.1M | $144.3M | $143.2M | $139.6M | $138.9M | $138.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $99.9M | $46.9M | $36.0M | $40.4M | $424.8M | $712.0M | $60.9M | $54.1M | $48.3M | $65.2M |
| Receivables | $365.7M | $305.3M | $287.6M | $315.5M | $310.5M | $209.2M | $290.0M | $264.9M | $231.1M | $222.0M |
| Total current assets | $503.7M | $385.8M | $397.6M | $390.4M | $777.3M | $974.7M | $435.8M | $429.5M | $376.0M | $378.2M |
| Property, plant and equipment | $643.8M | $648.9M | $657.8M | $699.8M | $647.9M | $634.2M | $666.2M | $652.9M | $662.1M | $665.0M |
| Goodwill | $2.01B | $2.01B | $2.01B | $2.08B | $2.08B | $2.08B | $2.08B | $2.08B | $2.13B | $2.09B |
| Other intangibles | $612.0M | $652.0M | $695.4M | $858.5M | $614.9M | $547.5M | $550.9M | $537.2M | $580.9M | $545.3M |
| Total assets | $5.31B | $5.22B | $5.58B | $5.99B | $5.92B | $5.90B | $5.38B | $3.83B | $3.81B | $3.74B |
| Accounts payable | $50.2M | $51.4M | $55.5M | $65.4M | $64.9M | $64.9M | $67.9M | $56.5M | $56.1M | $85.6M |
| Short-term debt | $0 | $10.0M | $65.0M | $30.0M | $0 | $80.0M | $195.0M | $160.0M | $80.0M | $0 |
| Total current liabilities | $545.3M | $520.8M | $593.0M | $551.6M | $507.7M | $534.9M | $650.0M | $402.6M | $299.6M | $251.5M |
| Long-term debt | $2.58B | $2.48B | $2.68B | $2.63B | $2.62B | $2.62B | $2.22B | $2.15B | $2.15B | $2.14B |
| Total liabilities | $4.58B | $4.43B | $4.85B | $4.64B | $4.53B | $4.51B | $4.26B | $2.68B | $2.58B | $2.51B |
| Retained earnings | -$1.91B | -$1.85B | -$1.82B | -$1.18B | -$1.12B | -$1.10B | -$964.6M | -$871.6M | -$775.6M | -$699.5M |
| Total equity | $710.4M | $649.0M | $577.3M | $1.20B | $972.3M | $973.8M | $1.09B | $1.10B | $1.18B | $1.23B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $307.6M | $299.2M | $254.2M | $254.1M | $98.8M | $130.6M | $276.9M | $214.3M | $249.3M | $287.1M |
| Depreciation and amortisation | $90.6M | $79.5M | $79.3M | $77.4M | $79.4M | $84.5M | $87.3M | $85.9M | $89.7M | $108.9M |
| Stock-based compensation | $30.0M | $30.8M | $28.4M | $33.8M | $28.6M | $23.8M | $22.3M | $20.2M | $20.5M | $18.0M |
| Capital expenditure | $88.8M | $78.1M | $86.8M | $89.8M | $73.8M | $53.5M | $89.9M | $82.3M | $70.8M | $59.4M |
| Investing cash flow | -$113.7M | $207.5M | -$107.5M | -$449.5M | -$224.0M | -$53.2M | -$176.3M | -$90.4M | -$135.3M | -$36.7M |
| Financing cash flow | -$140.9M | -$495.4M | -$151.5M | -$188.0M | -$162.2M | $573.0M | -$94.3M | -$117.7M | -$131.5M | -$286.5M |
| Dividends paid | $210.3M | $208.4M | $207.0M | $205.8M | $57.5M | $75.1M | $208.1M | $203.9M | $201.8M | $188.6M |
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 0001579877-26-000012.
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