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LAMAR ADVERTISING CO/NEW

LAMR· Nasdaq· Real Estate Investment Trusts

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
30.1%
ROIC, 5 yr avg
13.8%
Revenue, 5 yr CAGR
+7.6%
We record prices for the companies we cover; LAMR is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
101.6M
Revenue
$2.3B
Free cash flow
$683.2M
Owner earnings
$649.3M

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
–
Operating
34.2%
Net
25.9%
Free cash flow
30.1%
Owner earnings
28.7%
Stock pay
1.5%

Returns

ROIC, FY2025
17.1%
ROIC, 5 yr avg
13.8%
ROE, FY2025
57.3%
ROE, 5 yr avg
40.2%

Growth (CAGR)

Revenue, 3 yr
3.7%
Revenue, 5 yr
7.6%
Revenue, 9 yr
4.7%
Diluted EPS, 3 yr
10.2%
Diluted EPS, 5 yr
19.1%
Diluted EPS, 9 yr
7.3%
Free cash flow, 3 yr
3.6%
Free cash flow, 5 yr
6.1%
Free cash flow, 9 yr
5.7%

Financial health · FY2025

Cash and investments
$64.8M
Total debt
$3.4B
Net debt
$3.4B
Debt/Equity
3.3x
Debt/FCF
5.0x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
0.1%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$2.3B

+4.7% a year over 9 years

FY2016: Revenue $1.5BFY2017: Revenue $1.5BFY2018: Revenue $1.6BFY2019: Revenue $1.8BFY2020: Revenue $1.6BFY2021: Revenue $1.8BFY2022: Revenue $2.0BFY2023: Revenue $2.1BFY2024: Revenue $2.2BFY2025: Revenue $2.3B
FY2016FY2025

Margins

Operating34.2%Net25.9%

FY2025

FY2016: Operating 29.3%, Net 19.9%FY2017: Operating 29.5%, Net 20.6%FY2018: Operating 28.3%, Net 18.8%FY2019: Operating 29.5%, Net 21.2%FY2020: Operating 26.1%, Net 15.5%FY2021: Operating 29.2%, Net 21.7%FY2022: Operating 28.4%, Net 21.6%FY2023: Operating 32.0%, Net 23.5%FY2024: Operating 24.1%, Net 16.4%FY2025: Operating 34.2%, Net 25.9%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$683.2MOwner earnings$649.3M

Free cash flow +5.7% a year

FY2016: Free cash flow $414.2M, Owner earnings $385.7MFY2017: Free cash flow $397.7M, Owner earnings $388.1MFY2018: Free cash flow $447.2M, Owner earnings $417.8MFY2019: Free cash flow $489.9M, Owner earnings $460.3MFY2020: Free cash flow $507.6M, Owner earnings $488.8MFY2021: Free cash flow $608.3M, Owner earnings $571.0MFY2022: Free cash flow $614.5M, Owner earnings $591.4MFY2023: Free cash flow $605.3M, Owner earnings $582.7MFY2024: Free cash flow $748.3M, Owner earnings $703.8MFY2025: Free cash flow $683.2M, Owner earnings $649.3M
FY2016FY2025

Diluted shares

101.6M

+4.0% over 9 years, net dilution

FY2016: Diluted shares 97.7MFY2017: Diluted shares 98.4MFY2018: Diluted shares 99.1MFY2019: Diluted shares 100.3MFY2020: Diluted shares 100.9MFY2021: Diluted shares 101.3MFY2022: Diluted shares 101.6MFY2023: Diluted shares 102.1MFY2024: Diluted shares 102.6MFY2025: Diluted shares 101.6M
FY2016FY2025

Return on invested capital

17.1%

FY2025

FY2016: ROIC 12.4%FY2017: ROIC 12.5%FY2018: ROIC 11.1%FY2019: ROIC –FY2020: ROIC 10.1%FY2021: ROIC 12.3%FY2022: ROIC 12.5%FY2023: ROIC 14.7%FY2024: ROIC 12.5%FY2025: ROIC 17.1%
FY2016FY2025

Net debt (below zero)

-$3.4B

$3.4B more debt than cash

FY2016: Net cash -$2.3BFY2017: Net cash -$2.4BFY2018: Net cash -$2.9BFY2019: Net cash -$3.0BFY2020: Net cash -$2.8BFY2021: Net cash -$2.9BFY2022: Net cash -$3.3BFY2023: Net cash -$3.3BFY2024: Net cash -$3.2BFY2025: Net cash -$3.4B
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$1.5B$1.5B$1.6B$1.8B$1.6B$1.8B$2.0B$2.1B$2.2B$2.3B
Revenue growth–2.7%5.6%7.8%-10.5%13.9%13.7%3.9%4.6%2.7%
Gross margin––––––––––
Operating margin29.3%29.5%28.3%29.5%26.1%29.2%28.4%32.0%24.1%34.2%
Net income$298.8M$317.7M$305.2M$372.1M$243.4M$388.1M$438.6M$495.8M$361.9M$587.2M
Net margin19.9%20.6%18.8%21.2%15.5%21.7%21.6%23.5%16.4%25.9%
Diluted EPS$3.05$3.23$3.08$3.71$2.41$3.83$4.31$4.85$3.52$5.77
Return on invested capital?12.4%12.5%11.1%–10.1%12.3%12.5%14.7%12.5%17.1%
Cash
Operating cash flow$521.8M$507.0M$564.8M$630.9M$569.9M$734.4M$781.6M$783.6M$873.6M$864.0M
Capital expenditure$107.6M$109.3M$117.6M$141.0M$62.3M$126.1M$167.1M$178.3M$125.3M$180.8M
Free cash flow$414.2M$397.7M$447.2M$489.9M$507.6M$608.3M$614.5M$605.3M$748.3M$683.2M
Stock-based compensation$28.6M$9.6M$29.4M$29.6M$18.8M$37.4M$23.1M$22.6M$44.5M$34.0M
Owner earnings?$385.7M$388.1M$417.8M$460.3M$488.8M$571.0M$591.4M$582.7M$703.8M$649.3M
Free cash flow per share$4.24$4.04$4.51$4.88$5.03$6.00$6.05$5.93$7.30$6.72
Capital allocation
Dividends paid––––––––––
Share repurchases$6.2M$9.0M$4.1M$8.9M$10.5M$6.1M$10.5M$6.0M$5.3M$157.9M
Diluted shares97.7M98.4M99.1M100.3M100.9M101.3M101.6M102.1M102.6M101.6M
Share count change?1.4%0.7%0.7%1.2%0.6%0.4%0.3%0.5%0.4%-0.9%
Balance sheet
Cash and equivalents$35.5M$115.5M$21.5M$26.2M$121.6M$99.8M$52.6M$44.6M$49.5M$64.8M
Short-term investments––––––––––
Total debt$2.3B$2.6B$2.9B$3.0B$2.9B$3.0B$3.3B$3.3B$3.2B$3.4B
Net debt$2.3B$2.4B$2.9B$3.0B$2.8B$2.9B$3.3B$3.3B$3.2B$3.4B
Shareholders' equity$1.1B$1.1B$1.1B$1.2B$1.2B$1.2B$1.2B$1.2B$1.0B$1.0B

Latest filings

All on EDGAR
2026-08-0610-QQuarterly report
2026-08-068-KEarnings release
2026-05-0710-QQuarterly report
2026-05-078-KEarnings release
2026-04-02DEF 14AProxy statement
2026-02-2010-KAnnual report
2026-02-208-KEarnings release
2025-11-0610-QQuarterly report
2025-11-068-KEarnings release
2025-08-0810-QQuarterly report

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