Clear Channel Outdoor (CCO) Financials

$1.08 +0.04 (+3.85%)

Closing price 05/2/2025 03:59 PM Eastern

Extended Trading

$1.08 0.00 (0.00%)

As of 05/2/2025 04:40 PM Eastern

Annual Income Statements for Clear Channel Outdoor

This table shows Clear Channel Outdoor's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-97	-311	-179
Consolidated Net Income / (Loss)	-94	-309	-176
Net Income / (Loss) Continuing Operations	11	-159	-124
Total Pre-Tax Income	-79	-183	-133
Total Operating Income	256	217	279
Total Gross Profit	793	774	825
Total Revenue	1,382	1,434	1,505
Operating Revenue	1,382	1,434	1,505
Total Cost of Revenue	589	660	681
Operating Cost of Revenue	589	660	681
Total Operating Expenses	537	557	545
Selling, General & Admin Expense	350	365	380
Depreciation Expense	174	197	174
Other Operating Expenses / (Income)	-9.47	-4.49	-8.34
Impairment Charge	23	0.00	0.00
Total Other Income / (Expense), net	-335	-400	-412
Interest Expense	334	394	404
Other Income / (Expense), net	-0.78	-5.70	-8.38
Income Tax Expense	-90	-24	-9.37
Net Income / (Loss) Discontinued Operations	-105	-149	-52
Net Income / (Loss) Attributable to Noncontrolling Interest	2.22	2.11	3.38
Basic Earnings per Share	($0.20)	($0.65)	($0.37)
Weighted Average Basic Shares Outstanding	477.44M	483.72M	490.06M
Diluted Earnings per Share	($0.20)	($0.65)	($0.37)
Weighted Average Diluted Shares Outstanding	477.44M	483.72M	490.06M
Weighted Average Basic & Diluted Shares Outstanding	477.44M	483.72M	490.06M

This table shows Clear Channel Outdoor's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-40	99	-35	-37	-263	25	-90	-39	-33	-18
Consolidated Net Income / (Loss)	-39	99	-35	-37	-263	26	-89	-39	-32	-17
Net Income / (Loss) Continuing Operations	-19	185	-93	-39	-51	23	-89	-48	-32	45
Total Pre-Tax Income	-40	95	-103	-40	-51	11	-88	-51	-35	41
Total Operating Income	81	108	-9.39	52	70	104	32	57	72	118
Total Gross Profit	262	14	185	265	255	69	221	277	274	52
Total Revenue	503	-291	437	531	527	-61	482	559	559	-94
Operating Revenue	503	-291	437	531	527	-61	482	559	559	-94
Total Cost of Revenue	241	-305	253	266	271	-130	261	282	285	-146
Operating Cost of Revenue	241	-305	253	266	271	-130	261	282	285	-146
Total Operating Expenses	181	-94	194	212	186	-35	189	220	202	-65
Selling, General & Admin Expense	129	-89	126	148	122	-31	133	144	141	-37
Depreciation Expense	50	2.87	64	65	58	10	54	54	58	8.24
Other Operating Expenses / (Income)	1.86	-7.79	3.92	0.02	6.18	-15	1.44	4.62	3.68	-18
Total Other Income / (Expense), net	-121	-13	-94	-93	-121	-93	-121	-108	-108	-76
Interest Expense	93	72	103	105	104	83	112	107	107	77
Other Income / (Expense), net	-28	59	8.78	12	-17	-9.42	-8.35	-0.10	-0.68	0.74
Income Tax Expense	-21	-90	-11	-1.28	-0.24	-12	0.27	-2.46	-3.80	-3.37
Net Income / (Loss) Discontinued Operations	-20	-	57	2.23	-212	2.95	-0.42	9.68	-0.01	-61
Net Income / (Loss) Attributable to Noncontrolling Interest	0.98	0.75	-0.51	0.72	0.67	1.23	0.58	0.54	0.98	1.27
Basic Earnings per Share	($0.08)	$0.21	($0.07)	($0.08)	($0.55)	$0.05	($0.19)	($0.08)	($0.07)	($0.03)
Weighted Average Basic Shares Outstanding	476.06M	477.44M	482.84M	482.91M	483.01M	483.72M	488.71M	488.95M	489.08M	490.06M
Diluted Earnings per Share	($0.08)	$0.21	($0.07)	($0.08)	($0.55)	$0.05	($0.19)	($0.08)	($0.07)	($0.03)
Weighted Average Diluted Shares Outstanding	476.06M	477.44M	482.84M	482.91M	483.01M	483.72M	488.71M	488.95M	489.08M	490.06M
Weighted Average Basic & Diluted Shares Outstanding	476.06M	477.44M	482.84M	482.91M	483.01M	483.72M	488.71M	488.95M	489.08M	490.06M

This table details how cash moves in and out of Clear Channel Outdoor's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-121	-38	-88
Net Cash From Operating Activities	140	31	80
Net Cash From Continuing Operating Activities	140	31	80
Net Income / (Loss) Continuing Operations	-94	-309	-176
Consolidated Net Income / (Loss)	-94	-309	-176
Depreciation Expense	293	258	240
Amortization Expense	11	12	12
Non-Cash Adjustments To Reconcile Net Income	38	108	61
Changes in Operating Assets and Liabilities, net	-108	-38	-57
Net Cash From Investing Activities	-222	-120	-156
Net Cash From Continuing Investing Activities	-222	-120	-156
Purchase of Property, Plant & Equipment	-185	-167	-142
Acquisitions	-62	-12	-27
Divestitures	27	60	14
Other Investing Activities, net	-2.12	-0.69	-0.62
Net Cash From Financing Activities	-33	46	-8.18
Net Cash From Continuing Financing Activities	-33	46	-8.18
Repayment of Debt	-21	-697	-1,656
Payment of Dividends	-0.40	-2.68	-3.99
Issuance of Debt	0.00	750	1,657
Other Financing Activities, net	-11	-4.78	-4.88
Other Net Changes in Cash	-6.87	4.54	-4.10
Cash Interest Paid	341	404	435
Cash Income Taxes Paid	4.96	10	16

This table details how cash moves in and out of Clear Channel Outdoor's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	13	-39	52	-107	81	-64	-58	-4.97	13	-38
Net Cash From Operating Activities	95	26	11	-65	53	33	-35	31	54	29
Net Cash From Continuing Operating Activities	95	26	11	-65	53	33	-35	31	54	29
Net Income / (Loss) Continuing Operations	-39	99	-35	-37	-263	26	-89	-39	-32	-17
Consolidated Net Income / (Loss)	-39	99	-35	-37	-263	26	-89	-39	-32	-17
Depreciation Expense	59	92	73	71	58	56	54	72	58	56
Amortization Expense	-	-	2.89	2.91	2.99	2.88	2.90	2.94	2.88	2.93
Non-Cash Adjustments To Reconcile Net Income	303	-287	-107	-26	220	21	78	72	76	-166
Changes in Operating Assets and Liabilities, net	-228	110	77	-77	35	-73	-81	-78	-51	153
Net Cash From Investing Activities	-70	-66	49	-36	-36	-97	-27	-23	-41	-64
Net Cash From Continuing Investing Activities	-70	-66	49	-36	-36	-97	-27	-23	-41	-64
Purchase of Property, Plant & Equipment	-43	-60	-38	-37	-37	-54	-26	-26	-33	-57
Acquisitions	-28	-9.99	-5.68	-5.91	-0.56	-	-8.64	-0.18	-9.25	-8.57
Divestitures	0.36	6.30	94	7.44	2.16	-43	7.66	2.65	1.94	1.47
Other Investing Activities, net	0.26	-2.25	-0.32	-0.56	-0.08	0.28	-0.15	-0.34	-0.61	0.49
Net Cash From Financing Activities	-6.21	-5.57	-8.71	-10	66	-1.36	5.28	-11	-1.83	-0.63
Net Cash From Continuing Financing Activities	-6.21	-5.57	-8.71	-10	66	-1.36	5.28	-11	-1.83	-0.63
Repayment of Debt	-5.47	-5.25	-5.50	-6.34	-684	-1.17	-1,652	-2.61	-1.67	-0.48
Payment of Dividends	-0.06	-0.09	0.00	-2.43	-0.06	-0.18	-0.10	-3.75	-0.06	-0.08
Other Financing Activities, net	-0.68	-0.23	-3.31	-1.39	-0.08	-0.00	-0.07	-4.63	-0.10	-0.08
Cash Interest Paid	56	124	72	130	81	121	127	91	79	137
Cash Income Taxes Paid	1.38	1.13	2.12	4.45	2.14	1.64	6.08	3.82	1.45	4.80

This table presents Clear Channel Outdoor's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	5,086	4,722	4,804
Total Current Assets	1,121	957	1,659
Cash & Equivalents	282	172	110
Accounts Receivable	454	315	344
Prepaid Expenses	45	29	27
Other Current Assets	340	442	1,178
Plant, Property, & Equipment, net	672	490	480
Total Noncurrent Assets	3,293	3,275	2,665
Goodwill	651	508	508
Intangible Assets	974	896	832
Other Noncurrent Operating Assets	1,453	1,093	1,326
Other Noncurrent Nonoperating Assets	216	778	0.00
Total Liabilities & Shareholders' Equity	5,086	4,722	4,804
Total Liabilities	8,349	8,173	8,444
Total Current Liabilities	1,122	884	1,272
Short-Term Debt	21	0.40	0.35
Accounts Payable	73	45	39
Accrued Expenses	331	182	164
Dividends Payable	80	98	91
Current Deferred Revenue	48	41	70
Other Current Liabilities	212	115	133
Other Current Nonoperating Liabilities	356	403	775
Total Noncurrent Liabilities	7,227	7,289	7,172
Long-Term Debt	5,541	5,630	5,660
Noncurrent Deferred & Payable Income Tax Liabilities	236	231	222
Other Noncurrent Operating Liabilities	1,331	1,072	1,290
Other Noncurrent Nonoperating Liabilities	120	357	0.00
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-3,263	-3,451	-3,640
Total Preferred & Common Equity	-3,276	-3,463	-3,651
Total Common Equity	-3,276	-3,463	-3,651
Common Stock	3,548	3,569	3,595
Retained Earnings	-6,470	-6,781	-6,960
Treasury Stock	-19	-24	-28
Accumulated Other Comprehensive Income / (Loss)	-335	-227	-258
Noncontrolling Interest	13	12	12

This table presents Clear Channel Outdoor's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	4,987	4,949	4,840	4,649	4,559	4,544	4,645
Total Current Assets	971	969	892	870	819	854	906
Cash & Equivalents	327	340	233	313	193	189	201
Accounts Receivable	552	523	526	442	426	458	496
Prepaid Expenses	65	74	59	51	49	48	55
Other Current Assets	26	32	74	65	151	159	155
Plant, Property, & Equipment, net	756	770	710	640	647	628	639
Total Noncurrent Assets	3,260	3,210	3,238	3,139	3,093	3,063	3,100
Goodwill	674	652	654	649	653	653	662
Intangible Assets	986	960	946	924	893	873	853
Other Noncurrent Operating Assets	1,600	1,598	1,570	1,495	1,548	1,536	1,584
Total Liabilities & Shareholders' Equity	4,987	4,949	4,840	4,649	4,559	4,544	4,645
Total Liabilities	8,360	8,283	8,245	8,311	8,106	8,135	8,243
Total Current Liabilities	1,027	1,017	965	1,033	796	833	904
Short-Term Debt	21	27	29	0.56	0.62	0.60	0.57
Accounts Payable	77	86	77	55	63	65	57
Accrued Expenses	454	442	423	324	309	315	323
Dividends Payable	105	110	84	110	78	94	122
Current Deferred Revenue	91	95	88	73	68	79	103
Other Current Liabilities	280	257	230	470	211	216	226
Other Current Nonoperating Liabilities	-	-	34	-	65	63	74
Total Noncurrent Liabilities	7,332	7,266	7,280	7,278	7,310	7,302	7,338
Long-Term Debt	5,571	5,565	5,562	5,629	5,651	5,654	5,657
Noncurrent Deferred & Payable Income Tax Liabilities	320	249	245	242	231	226	220
Other Noncurrent Operating Liabilities	1,441	1,452	1,448	1,383	1,427	1,422	1,462
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-3,373	-3,334	-3,405	-3,663	-3,546	-3,591	-3,598
Total Preferred & Common Equity	-3,385	-3,346	-3,416	-3,674	-3,559	-3,600	-3,609
Total Common Equity	-3,385	-3,346	-3,416	-3,674	-3,559	-3,600	-3,609
Common Stock	3,544	3,552	3,559	3,564	3,574	3,582	3,588
Retained Earnings	-6,569	-6,505	-6,542	-6,806	-6,871	-6,910	-6,942
Treasury Stock	-19	-22	-23	-24	-24	-28	-28
Accumulated Other Comprehensive Income / (Loss)	-342	-372	-409	-408	-239	-244	-227
Noncontrolling Interest	12	12	11	11	13	9.56	10

This table displays calculated financial ratios and metrics derived from Clear Channel Outdoor's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	-21.89%	3.81%	4.95%
EBITDA Growth	26.97%	-14.03%	8.50%
EBIT Growth	346.32%	-17.23%	28.28%
NOPAT Growth	335.18%	-15.26%	28.77%
Net Income Growth	78.21%	-227.18%	43.05%
EPS Growth	78.49%	-225.00%	43.08%
Operating Cash Flow Growth	204.87%	-77.67%	155.15%
Free Cash Flow Firm Growth	-218.48%	479.69%	-217.22%
Invested Capital Growth	14.05%	-11.49%	33.11%
Revenue Q/Q Growth	-28.89%	-21.91%	-32.54%
EBITDA Q/Q Growth	-2.54%	-13.38%	-1.68%
EBIT Q/Q Growth	-17.62%	-19.24%	-3.05%
NOPAT Q/Q Growth	-30.79%	-7.56%	-2.31%
Net Income Q/Q Growth	26.43%	-31.20%	-31.97%
EPS Q/Q Growth	25.93%	-32.65%	-27.59%
Operating Cash Flow Q/Q Growth	3.88%	27.66%	-4.22%
Free Cash Flow Firm Q/Q Growth	-150.34%	-4.54%	-265.51%
Invested Capital Q/Q Growth	18.05%	21.42%	35.21%
Profitability Metrics	-	-	-
Gross Margin	57.38%	53.96%	54.79%
EBITDA Margin	40.51%	33.55%	34.68%
Operating Margin	18.52%	15.12%	18.55%
EBIT Margin	18.46%	14.72%	17.99%
Profit (Net Income) Margin	-6.83%	-21.53%	-11.68%
Tax Burden Percent	119.50%	168.64%	132.11%
Interest Burden Percent	-30.97%	-86.74%	-49.16%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	8.10%	6.83%	8.04%
ROIC Less NNEP Spread (ROIC-NNEP)	3.07%	-1.43%	1.82%
Return on Net Nonoperating Assets (RNNOA)	-5.17%	2.37%	-3.08%
Return on Equity (ROE)	2.92%	9.20%	4.96%
Cash Return on Invested Capital (CROIC)	-5.03%	19.02%	-20.37%
Operating Return on Assets (OROA)	4.91%	4.30%	5.69%
Return on Assets (ROA)	-1.82%	-6.30%	-3.69%
Return on Common Equity (ROCE)	2.93%	9.23%	4.98%
Return on Equity Simple (ROE_SIMPLE)	2.88%	8.92%	4.82%
Net Operating Profit after Tax (NOPAT)	179	152	195
NOPAT Margin	12.96%	10.58%	12.98%
Net Nonoperating Expense Percent (NNEP)	5.03%	8.26%	6.21%
Return On Investment Capital (ROIC_SIMPLE)	7.79%	6.96%	9.67%
Cost of Revenue to Revenue	42.62%	46.04%	45.21%
SG&A Expenses to Revenue	25.33%	25.43%	25.23%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	38.86%	38.84%	36.24%
Earnings before Interest and Taxes (EBIT)	255	211	271
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	560	481	522
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.36	0.61	0.45
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.46	3.04	2.24
Enterprise Value to Revenue (EV/Rev)	4.19	4.43	4.14
Enterprise Value to EBITDA (EV/EBITDA)	10.35	13.20	11.94
Enterprise Value to EBIT (EV/EBIT)	22.71	30.08	23.01
Enterprise Value to NOPAT (EV/NOPAT)	32.34	41.84	31.89
Enterprise Value to Operating Cash Flow (EV/OCF)	41.38	203.17	78.15
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	15.03	0.00
Leverage & Solvency	-	-	-
Debt to Equity	-1.70	-1.63	-1.56
Long-Term Debt to Equity	-1.70	-1.63	-1.56
Financial Leverage	-1.69	-1.66	-1.69
Leverage Ratio	-1.61	-1.46	-1.34
Compound Leverage Factor	0.50	1.27	0.66
Debt to Total Capital	241.92%	258.32%	280.14%
Short-Term Debt to Total Capital	0.92%	0.02%	0.02%
Long-Term Debt to Total Capital	240.99%	258.31%	280.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.56%	0.56%	0.58%
Common Equity to Total Capital	-142.48%	-158.89%	-180.72%
Debt to EBITDA	9.94	11.70	10.84
Net Debt to EBITDA	9.43	11.35	10.63
Long-Term Debt to EBITDA	9.90	11.70	10.84
Debt to NOPAT	31.06	37.10	28.96
Net Debt to NOPAT	29.48	35.97	28.40
Long-Term Debt to NOPAT	30.94	37.10	28.96
Altman Z-Score	-1.31	-1.48	-1.38
Noncontrolling Interest Sharing Ratio	-0.37%	-0.37%	-0.34%
Liquidity Ratios	-	-	-
Current Ratio	1.00	1.08	1.30
Quick Ratio	0.66	0.55	0.36
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-111	423	-495
Operating Cash Flow to CapEx	75.80%	18.76%	56.00%
Free Cash Flow to Firm to Interest Expense	-0.33	1.07	-1.23
Operating Cash Flow to Interest Expense	0.42	0.08	0.20
Operating Cash Flow Less CapEx to Interest Expense	-0.13	-0.34	-0.16
Efficiency Ratios	-	-	-
Asset Turnover	0.27	0.29	0.32
Accounts Receivable Turnover	2.52	3.73	4.57
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	1.84	2.47	3.10
Accounts Payable Turnover	6.47	11.19	16.33
Days Sales Outstanding (DSO)	144.88	97.80	79.90
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	56.41	32.62	22.36
Cash Conversion Cycle (CCC)	88.47	65.18	57.54
Capital & Investment Metrics	-	-	-
Invested Capital	2,357	2,086	2,777
Invested Capital Turnover	0.62	0.65	0.62
Increase / (Decrease) in Invested Capital	290	-271	691
Enterprise Value (EV)	5,792	6,350	6,232
Market Capitalization	500	879	670
Book Value per Share	($6.88)	($7.17)	($7.47)
Tangible Book Value per Share	($10.29)	($10.08)	($10.21)
Total Capital	2,299	2,180	2,021
Total Debt	5,562	5,630	5,660
Total Long-Term Debt	5,541	5,630	5,660
Net Debt	5,280	5,459	5,551
Capital Expenditures (CapEx)	185	167	142
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-262	-98	278
Debt-free Net Working Capital (DFNWC)	21	74	387
Net Working Capital (NWC)	-0.62	74	387
Net Nonoperating Expense (NNE)	273	461	371
Net Nonoperating Obligations (NNO)	5,620	5,537	6,417
Total Depreciation and Amortization (D&A)	305	270	251
Debt-free, Cash-free Net Working Capital to Revenue	-18.94%	-6.81%	18.45%
Debt-free Net Working Capital to Revenue	1.49%	5.17%	25.74%
Net Working Capital to Revenue	-0.05%	5.14%	25.71%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.20)	($0.65)	($0.37)
Adjusted Weighted Average Basic Shares Outstanding	477.44M	483.72M	490.06M
Adjusted Diluted Earnings per Share	($0.20)	($0.65)	($0.37)
Adjusted Weighted Average Diluted Shares Outstanding	477.44M	483.72M	490.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	477.44M	483.72M	490.06M
Normalized Net Operating Profit after Tax (NOPAT)	195	152	195
Normalized NOPAT Margin	14.11%	10.58%	12.98%
Pre Tax Income Margin	-5.72%	-12.77%	-8.84%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.76	0.54	0.67
NOPAT to Interest Expense	0.54	0.39	0.48
EBIT Less CapEx to Interest Expense	0.21	0.11	0.32
NOPAT Less CapEx to Interest Expense	-0.02	-0.04	0.13
Payout Ratios	-	-	-
Dividend Payout Ratio	-0.42%	-0.87%	-2.27%
Augmented Payout Ratio	-0.42%	-0.87%	-2.27%

This table displays calculated financial ratios and metrics derived from Clear Channel Outdoor's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-15.61%	-207.58%	-16.79%	-17.50%	4.66%	79.08%	10.13%	5.22%	6.11%	-54.59%
EBITDA Growth	9.03%	-9.07%	48.13%	9.14%	1.68%	-40.61%	7.97%	-5.17%	16.61%	15.10%
EBIT Growth	44.02%	-24.60%	93.69%	44.64%	-0.86%	-43.32%	4,067.99%	-12.39%	37.14%	24.94%
NOPAT Growth	66.10%	-5.91%	-159.86%	-26.07%	-13.83%	0.79%	445.11%	8.20%	4.04%	-39.63%
Net Income Growth	4.92%	51.76%	60.52%	44.00%	-577.72%	-73.85%	-151.49%	-5.62%	87.99%	-163.86%
EPS Growth	11.11%	50.00%	63.16%	42.86%	-587.50%	-76.19%	-171.43%	0.00%	87.27%	-160.00%
Operating Cash Flow Growth	21.52%	25.15%	-77.95%	-116.02%	-44.21%	26.04%	-419.20%	147.24%	3.00%	-10.71%
Free Cash Flow Firm Growth	-86.17%	-129.48%	43.62%	-58.53%	1,644.27%	693.77%	89.06%	94.42%	-187.11%	-216.96%
Invested Capital Growth	1.93%	14.05%	1.93%	0.90%	-13.94%	-11.49%	1.36%	0.17%	19.53%	33.11%
Revenue Q/Q Growth	-21.77%	-157.78%	28.04%	21.35%	-0.76%	-111.55%	-23.79%	15.94%	0.08%	-116.83%
EBITDA Q/Q Growth	-12.32%	132.57%	-68.25%	84.33%	-18.32%	35.84%	-55.66%	61.91%	0.44%	34.08%
EBIT Q/Q Growth	17.91%	217.41%	-100.42%	10,768.32%	-19.18%	81.48%	-81.07%	135.54%	26.51%	65.34%
NOPAT Q/Q Growth	13.73%	270.57%	-101.98%	658.69%	32.57%	333.40%	-85.49%	75.16%	27.48%	151.48%
Net Income Q/Q Growth	40.63%	356.42%	-135.62%	-3.27%	-618.49%	109.89%	-442.59%	56.63%	18.32%	47.38%
EPS Q/Q Growth	42.86%	362.50%	-133.33%	-14.29%	-587.50%	109.09%	-480.00%	57.89%	12.50%	57.14%
Operating Cash Flow Q/Q Growth	413.47%	-72.55%	-58.05%	-698.59%	180.96%	-38.00%	-206.23%	188.59%	76.53%	-46.25%
Free Cash Flow Firm Q/Q Growth	-58.25%	-532.58%	-208.82%	141.41%	1,655.94%	47.26%	-101.18%	835.84%	-886.73%	-97.73%
Invested Capital Q/Q Growth	-0.65%	18.05%	-13.97%	0.00%	-15.27%	21.42%	-1.93%	-1.17%	1.10%	35.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.04%	0.00%	42.25%	49.85%	48.48%	0.00%	45.86%	49.58%	49.09%	0.00%
EBITDA Margin	22.14%	0.00%	17.20%	26.13%	21.51%	0.00%	16.86%	23.55%	23.63%	0.00%
Operating Margin	16.03%	0.00%	-2.15%	9.88%	13.20%	0.00%	6.72%	10.16%	12.94%	0.00%
EBIT Margin	10.47%	0.00%	-0.14%	12.18%	9.92%	0.00%	4.99%	10.14%	12.82%	0.00%
Profit (Net Income) Margin	-7.70%	0.00%	-8.10%	-6.89%	-49.89%	0.00%	-18.49%	-6.92%	-5.65%	0.00%
Tax Burden Percent	97.15%	104.41%	34.35%	91.26%	512.06%	228.26%	100.78%	76.09%	89.29%	-40.13%
Interest Burden Percent	-75.74%	56.93%	17,014.19%	-62.00%	-98.24%	12.01%	-367.61%	-89.64%	-49.33%	34.93%
Effective Tax Rate	0.00%	-94.00%	0.00%	0.00%	0.00%	-102.33%	0.00%	0.00%	0.00%	-8.15%
Return on Invested Capital (ROIC)	11.02%	0.00%	-1.44%	6.21%	9.13%	0.00%	5.01%	7.70%	10.72%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	9.23%	0.00%	-1.98%	4.85%	3.34%	0.00%	2.97%	6.29%	9.23%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-14.70%	0.00%	3.19%	-7.76%	-5.10%	0.00%	-4.73%	-9.94%	-14.02%	0.00%
Return on Equity (ROE)	-3.68%	0.00%	1.75%	-1.54%	4.03%	0.00%	0.28%	-2.23%	-3.30%	0.00%
Cash Return on Invested Capital (CROIC)	11.18%	-5.03%	7.29%	7.62%	23.83%	19.02%	8.20%	9.59%	-7.18%	-20.37%
Operating Return on Assets (OROA)	3.93%	0.00%	-0.05%	4.46%	3.78%	0.00%	2.28%	4.75%	6.16%	0.00%
Return on Assets (ROA)	-2.89%	0.00%	-3.08%	-2.53%	-19.02%	0.00%	-8.45%	-3.24%	-2.71%	0.00%
Return on Common Equity (ROCE)	-3.70%	0.00%	1.75%	-1.55%	4.05%	0.00%	0.28%	-2.24%	-3.31%	0.00%
Return on Equity Simple (ROE_SIMPLE)	3.79%	0.00%	1.20%	0.33%	6.41%	0.00%	10.18%	10.13%	3.69%	0.00%
Net Operating Profit after Tax (NOPAT)	56	209	-6.57	37	49	211	23	40	51	127
NOPAT Margin	11.22%	0.00%	-1.50%	6.92%	9.24%	0.00%	4.71%	7.11%	9.06%	0.00%
Net Nonoperating Expense Percent (NNEP)	1.79%	2.02%	0.54%	1.36%	5.79%	3.31%	2.04%	1.42%	1.49%	2.41%
Return On Investment Capital (ROIC_SIMPLE)	-	9.10%	-	-	-	9.68%	-	-	-	6.30%
Cost of Revenue to Revenue	47.96%	0.00%	57.75%	50.15%	51.52%	0.00%	54.14%	50.42%	50.91%	0.00%
SG&A Expenses to Revenue	25.57%	0.00%	28.82%	27.81%	23.16%	0.00%	27.56%	25.71%	25.19%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.02%	0.00%	44.40%	39.97%	35.29%	0.00%	39.13%	39.42%	36.15%	0.00%
Earnings before Interest and Taxes (EBIT)	53	167	-0.61	65	52	95	24	57	72	118
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	111	259	75	139	113	154	81	132	132	177
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.34	0.36	0.30	0.36	0.42	0.61	0.37	0.31	0.35	0.45
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.97	2.46	2.88	2.97	3.54	3.04	3.05	3.03	3.04	2.24
Enterprise Value to Revenue (EV/Rev)	3.05	4.19	3.03	3.33	3.32	4.43	2.89	2.80	2.80	4.14
Enterprise Value to EBITDA (EV/EBITDA)	10.32	10.35	10.66	10.84	10.97	13.20	12.07	12.04	11.77	11.94
Enterprise Value to EBIT (EV/EBIT)	19.15	22.71	24.13	23.03	23.30	30.08	23.40	23.71	22.37	23.01
Enterprise Value to NOPAT (EV/NOPAT)	22.91	32.34	31.56	35.06	37.09	41.84	32.14	31.12	31.24	31.89
Enterprise Value to Operating Cash Flow (EV/OCF)	44.00	41.38	57.55	90.86	248.76	203.17	0.00	75.48	75.06	78.15
Enterprise Value to Free Cash Flow (EV/FCFF)	26.82	0.00	39.84	39.18	13.76	15.03	37.43	31.68	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.66	-1.70	-1.68	-1.64	-1.54	-1.63	-1.59	-1.57	-1.57	-1.56
Long-Term Debt to Equity	-1.65	-1.70	-1.67	-1.63	-1.54	-1.63	-1.59	-1.57	-1.57	-1.56
Financial Leverage	-1.59	-1.69	-1.61	-1.60	-1.53	-1.66	-1.59	-1.58	-1.52	-1.69
Leverage Ratio	-1.55	-1.61	-1.53	-1.47	-1.37	-1.46	-1.38	-1.34	-1.28	-1.34
Compound Leverage Factor	1.18	-0.92	-260.79	0.91	1.35	-0.18	5.08	1.20	0.63	-0.47
Debt to Total Capital	251.97%	241.92%	247.64%	255.81%	286.23%	258.32%	268.43%	273.95%	274.74%	280.14%
Short-Term Debt to Total Capital	0.95%	0.92%	1.20%	1.33%	0.03%	0.02%	0.03%	0.03%	0.03%	0.02%
Long-Term Debt to Total Capital	251.02%	240.99%	246.45%	254.48%	286.20%	258.31%	268.40%	273.92%	274.72%	280.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.55%	0.56%	0.55%	0.49%	0.57%	0.56%	0.61%	0.46%	0.51%	0.58%
Common Equity to Total Capital	-152.52%	-142.48%	-148.19%	-156.29%	-186.80%	-158.89%	-169.04%	-174.42%	-175.25%	-180.72%
Debt to EBITDA	9.74	9.94	10.21	10.05	10.14	11.70	10.88	11.04	10.66	10.84
Net Debt to EBITDA	9.17	9.43	9.59	9.63	9.57	11.35	10.51	10.67	10.28	10.63
Long-Term Debt to EBITDA	9.70	9.90	10.16	9.99	10.13	11.70	10.88	11.04	10.65	10.84
Debt to NOPAT	21.61	31.06	30.24	32.51	34.29	37.10	28.98	28.55	28.28	28.96
Net Debt to NOPAT	20.34	29.48	28.40	31.15	32.38	35.97	27.98	27.59	27.28	28.40
Long-Term Debt to NOPAT	21.53	30.94	30.09	32.34	34.28	37.10	28.97	28.55	28.28	28.96
Altman Z-Score	-1.39	-1.37	-1.42	-1.44	-1.60	-1.56	-1.55	-1.55	-1.50	-1.49
Noncontrolling Interest Sharing Ratio	-0.33%	0.00%	-0.35%	-0.33%	-0.33%	0.00%	-0.37%	-0.29%	-0.30%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.95	1.00	0.95	0.92	0.84	1.08	1.03	1.02	1.00	1.30
Quick Ratio	0.86	0.66	0.85	0.79	0.73	0.55	0.78	0.78	0.77	0.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	19	-81	-45	19	327	482	-4.92	36	-285	-563
Operating Cash Flow to CapEx	218.77%	43.15%	28.39%	-177.89%	141.22%	60.66%	-132.87%	120.38%	162.68%	51.26%
Free Cash Flow to Firm to Interest Expense	0.20	-1.13	-0.44	0.18	3.16	5.77	-0.04	0.34	-2.66	-7.31
Operating Cash Flow to Interest Expense	1.02	0.36	0.11	-0.62	0.51	0.39	-0.31	0.29	0.51	0.38
Operating Cash Flow Less CapEx to Interest Expense	0.56	-0.48	-0.27	-0.97	0.15	-0.25	-0.54	0.05	0.20	-0.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.27	0.38	0.37	0.38	0.29	0.46	0.47	0.48	0.32
Accounts Receivable Turnover	3.57	2.52	3.64	3.27	3.70	3.73	4.58	4.47	4.76	4.57
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	4.12	1.84	3.99	2.44	2.63	2.47	3.06	3.29	3.49	3.10
Accounts Payable Turnover	9.86	6.47	9.97	10.17	13.32	11.19	14.70	15.78	20.10	16.33
Days Sales Outstanding (DSO)	102.30	144.88	100.26	111.77	98.70	97.80	79.76	81.61	76.66	79.90
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	37.01	56.41	36.62	35.91	27.40	32.62	24.83	23.13	18.16	22.36
Cash Conversion Cycle (CCC)	65.29	88.47	63.64	75.86	71.30	65.18	54.93	58.48	58.50	57.54
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,997	2,357	2,028	2,028	1,718	2,086	2,055	2,031	2,054	2,777
Invested Capital Turnover	0.98	0.62	0.96	0.90	0.99	0.65	1.06	1.08	1.18	0.62
Increase / (Decrease) in Invested Capital	38	290	38	18	-278	-271	28	3.50	336	691
Enterprise Value (EV)	5,929	5,792	5,837	6,030	6,090	6,350	6,269	6,164	6,249	6,232
Market Capitalization	652	500	573	661	763	879	797	689	782	670
Book Value per Share	($7.11)	($6.88)	($7.01)	($7.07)	($7.61)	($7.17)	($7.28)	($7.37)	($7.38)	($7.47)
Tangible Book Value per Share	($10.60)	($10.29)	($10.39)	($10.39)	($10.87)	($10.08)	($10.45)	($10.49)	($10.48)	($10.21)
Total Capital	2,219	2,299	2,258	2,186	1,967	2,180	2,106	2,064	2,059	2,021
Total Debt	5,592	5,562	5,592	5,591	5,629	5,630	5,652	5,655	5,657	5,660
Total Long-Term Debt	5,571	5,541	5,565	5,562	5,629	5,630	5,651	5,654	5,657	5,660
Net Debt	5,265	5,280	5,252	5,358	5,316	5,459	5,459	5,465	5,456	5,551
Capital Expenditures (CapEx)	43	60	38	37	37	54	26	26	33	57
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-363	-262	-361	-277	-476	-98	-170	-168	-199	278
Debt-free Net Working Capital (DFNWC)	-35	21	-21	-44	-162	74	23	21	2.37	387
Net Working Capital (NWC)	-56	-0.62	-48	-73	-163	74	23	21	1.80	387
Net Nonoperating Expense (NNE)	95	110	29	73	311	185	112	78	82	144
Net Nonoperating Obligations (NNO)	5,369	5,620	5,362	5,433	5,381	5,537	5,602	5,622	5,652	6,417
Total Depreciation and Amortization (D&A)	59	92	76	74	61	59	57	75	60	59
Debt-free, Cash-free Net Working Capital to Revenue	-18.66%	-18.94%	-18.76%	-15.28%	-25.91%	-6.81%	-7.83%	-7.64%	-8.91%	18.45%
Debt-free Net Working Capital to Revenue	-1.81%	1.49%	-1.11%	-2.43%	-8.84%	5.17%	1.07%	0.97%	0.11%	25.74%
Net Working Capital to Revenue	-2.89%	-0.05%	-2.51%	-4.04%	-8.87%	5.14%	1.04%	0.94%	0.08%	25.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	$0.21	($0.07)	($0.08)	($0.55)	$0.05	($0.19)	($0.08)	($0.07)	($0.03)
Adjusted Weighted Average Basic Shares Outstanding	476.06M	477.44M	482.84M	482.91M	483.01M	483.72M	488.71M	488.95M	489.08M	490.06M
Adjusted Diluted Earnings per Share	($0.08)	$0.21	($0.07)	($0.08)	($0.55)	$0.05	($0.19)	($0.08)	($0.07)	($0.03)
Adjusted Weighted Average Diluted Shares Outstanding	476.06M	477.44M	482.84M	482.91M	483.01M	483.72M	488.71M	488.95M	489.08M	490.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	476.06M	477.44M	482.84M	482.91M	483.01M	483.72M	488.71M	488.95M	489.08M	490.06M
Normalized Net Operating Profit after Tax (NOPAT)	57	76	-6.57	37	49	73	23	52	51	82
Normalized NOPAT Margin	11.34%	0.00%	-1.50%	6.92%	9.24%	0.00%	4.71%	9.38%	9.06%	0.00%
Pre Tax Income Margin	-7.93%	0.00%	-23.57%	-7.55%	-9.74%	0.00%	-18.35%	-9.09%	-6.32%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.57	2.32	-0.01	0.62	0.50	1.14	0.21	0.53	0.67	1.54
NOPAT to Interest Expense	0.61	2.90	-0.06	0.35	0.47	2.53	0.20	0.37	0.47	1.65
EBIT Less CapEx to Interest Expense	0.10	1.49	-0.38	0.27	0.14	0.49	-0.02	0.29	0.36	0.80
NOPAT Less CapEx to Interest Expense	0.14	2.07	-0.44	0.00	0.11	1.88	-0.03	0.13	0.16	0.91
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-0.42%	0.00%	0.00%	0.00%	-0.87%	0.00%	0.00%	0.00%	-2.27%
Augmented Payout Ratio	0.00%	-0.42%	0.00%	0.00%	0.00%	-0.87%	0.00%	0.00%	0.00%	-2.27%

Frequently Asked Questions About Clear Channel Outdoor's Financials

When does Clear Channel Outdoor's fiscal year end?

According to the most recent income statement we have on file, Clear Channel Outdoor's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Clear Channel Outdoor's net income changed over the last 2 years?

Clear Channel Outdoor's net income appears to be on an upward trend, with a most recent value of -$175.88 million in 2024, rising from -$94.39 million in 2022. The previous period was -$308.82 million in 2023. See Clear Channel Outdoor's forecast for analyst expectations on what’s next for the company.

What is Clear Channel Outdoor's operating income?

Clear Channel Outdoor's total operating income in 2024 was $279.18 million, based on the following breakdown:

Total Gross Profit: $824.65 million
Total Operating Expenses: $545.47 million

How has Clear Channel Outdoor revenue changed over the last 2 years?

Over the last 2 years, Clear Channel Outdoor's total revenue changed from $1.38 billion in 2022 to $1.51 billion in 2024, a change of 9.0%.

How much debt does Clear Channel Outdoor have?

Clear Channel Outdoor's total liabilities were at $8.44 billion at the end of 2024, a 3.3% increase from 2023, and a 1.1% increase since 2022.

How much cash does Clear Channel Outdoor have?

In the past 2 years, Clear Channel Outdoor's cash and equivalents has ranged from $109.71 million in 2024 to $282.23 million in 2022, and is currently $109.71 million as of their latest financial filing in 2024.

How has Clear Channel Outdoor's book value per share changed over the last 2 years?

Over the last 2 years, Clear Channel Outdoor's book value per share changed from -6.88 in 2022 to -7.47 in 2024, a change of 8.5%.

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This page (NYSE:CCO) was last updated on 5/4/2025 by MarketBeat.com Staff

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Clear Channel Outdoor (CCO) Financials

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Clear Channel Outdoor (CCO) Financials

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