Versant Media Group, Inc. VSNT
Versant is a media and entertainment business that operates in four core markets: political news and opinion, business news and personal finance, golf and athletics participation and sports and genre entertainment. We serve these markets primarily through a strong portfolio of brands comprised of television networks operating primarily in the United States, including MS NOW, CNBC, USA Network, Golf Channel, E!, SYFY and Oxygen, and our complementary digital platforms GolfNow, Fandango and Rotten Tomatoes.
We produce, license and acquire content that we distribute through a variety of outlets, including our networks and digital platforms, delivering value to key constituents: the viewing audience, paying subscribers, advertisers, distributors and licensing counterparties. We generate revenue primarily through distributing our networks, selling advertising across our brands, providing services through our digital platforms and content licensing. We present our operations in one reportable business segment.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $6.69B | $7.06B | $7.45B | — |
| SG&A | $1.47B | $1.17B | $1.23B | — |
| Total operating expenses | $5.42B | $5.22B | $5.38B | — |
| Operating income | $1.27B | $1.84B | $2.07B | — |
| Interest expense | $13.0M | $0 | $0 | — |
| Pre-tax income | $1.23B | $1.84B | $2.07B | — |
| Income tax | $297.0M | $478.0M | $530.0M | — |
| Net income | $930.0M | $1.36B | $1.54B | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $55.0M | $8.0M | $23.0M | $11.0M |
| Receivables | $1.15B | $1.25B | — | — |
| Total current assets | $2.50B | $1.32B | — | — |
| Property, plant and equipment | $423.0M | $143.0M | — | — |
| Goodwill | $7.61B | $7.73B | $7.73B | — |
| Other intangibles | $924.0M | $1.87B | — | — |
| Total assets | $12.33B | $12.05B | — | — |
| Accounts payable | $151.0M | $102.0M | — | — |
| Total current liabilities | $622.0M | $590.0M | — | — |
| Long-term debt | $983.0M | $0 | — | — |
| Total equity | $10.29B | $10.80B | $11.68B | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $2.02B | $2.21B | $2.43B | — |
| Depreciation and amortisation | $67.0M | $63.0M | $67.0M | — |
| Stock-based compensation | $29.0M | $16.0M | $15.0M | — |
| Capital expenditure | $167.0M | $54.0M | $56.0M | — |
| Investing cash flow | -$155.0M | -$71.0M | -$60.0M | — |
| Financing cash flow | -$782.0M | -$2.15B | -$2.35B | — |
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 0002067876-26-000010.
Others in SIC 4833
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|---|---|---|---|---|
| FOXA | Fox Corp | $27.74B | 17.0x | 5.1% |
| NXST | NEXSTAR MEDIA GROUP, INC. | $5.45B | 58.9x | -8.5% |
| NMAX | Newsmax Inc. | $1.37B | — | 10.7% |
| SBGI | Sinclair, Inc. | $996.5M | — | -10.7% |
| EVC | ENTRAVISION COMMUNICATIONS CORP | $775.6M | — | 22.6% |
| GTN | GRAY MEDIA, INC | $485.1M | — | -15.1% |
| SSP | E.W. SCRIPPS Co | $303.9M | — | -14.3% |
| PSKY | Paramount Skydance Corp | $10.9K | — | — |