What is Lee Enterprises' operating income?

Lee Enterprises' total operating income in 2025 was -$8.93 million, based on the following breakdown: Total Gross Profit: $346.32 million Total Operating Expenses: $355.25 million

Lee Enterprises (LEE) Financials

$7.87 -0.24 (-2.96%)

Closing price 04:00 PM Eastern

Extended Trading

$7.88 +0.00 (+0.06%)

As of 04:10 PM Eastern

Compare

Annual Income Statements for Lee Enterprises

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/27/2015	9/25/2016	9/24/2017	9/30/2018	9/29/2019	9/27/2020	9/26/2021	9/25/2022	9/24/2023	9/29/2024	9/28/2025
Net Income / (Loss) Attributable to Common Shareholders	23	35	27	46	14	-1.98	23	-2.02	-5.27	-26	-38
Consolidated Net Income / (Loss)	24	36	29	47	16	-0.13	25	0.10	-2.73	-24	-36
Net Income / (Loss) Continuing Operations	24	36	29	47	16	-0.13	25	0.10	-2.73	-24	-36
Total Pre-Tax Income	38	58	40	31	24	2.84	32	0.80	-3.08	-31	-43
Total Operating Income	101	95	82	76	68	47	57	19	37	-0.03	-8.93
Total Gross Profit	410	385	354	345	327	375	464	463	424	377	346
Total Revenue	649	614	567	544	510	618	795	781	691	611	562
Operating Revenue	607	567	567	544	510	618	795	781	691	611	562
Total Cost of Revenue	239	230	213	199	183	243	331	318	267	235	216
Operating Cost of Revenue	239	230	213	199	183	243	331	318	267	235	216
Total Operating Expenses	308	289	272	268	259	328	414	444	394	377	355
Selling, General & Admin Expense	-	-	-	200	194	259	326	345	323	302	295
Depreciation Expense	18	43	41	32	29	36	43	37	31	28	19
Other Operating Expenses / (Income)	259	245	225	25	22	24	30	30	25	28	16
Restructuring Charge	3.30	1.83	7.52	5.55	12	14	7.18	23	13	19	26
Total Other Income / (Expense), net	-63	-37	-41	-46	-44	-44	-18	-18	-34	-31	-34
Interest Expense	72	64	58	53	47	48	45	42	41	41	41
Interest & Investment Income	8.25	8.53	7.61	9.25	7.12	3.40	6.41	5.66	6.53	4.57	4.28
Other Income / (Expense), net	0.95	18	8.66	-2.03	-3.40	0.31	20	18	1.22	5.50	2.51
Income Tax Expense	14	22	12	-16	7.93	2.97	7.26	0.70	-0.35	-7.61	-6.90
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	1.06	1.12	1.28	1.64	1.85	2.05	2.11	2.53	2.27	1.85
Basic Earnings per Share	$0.44	$0.66	$0.51	$0.84	$2.57	($0.35)	$3.98	($0.35)	($0.90)	($4.35)	($6.20)
Weighted Average Basic Shares Outstanding	52.64M	53.20M	53.99M	54.70M	57.61M	58.35M	5.89M	-	6.06M	6.19M	6.26M
Diluted Earnings per Share	$0.43	$0.64	$0.50	$0.82	$2.51	($0.35)	$3.90	($0.35)	($0.90)	($4.35)	($6.20)
Weighted Average Diluted Shares Outstanding	52.64M	53.20M	53.99M	54.70M	57.61M	58.35M	5.89M	-	6.06M	6.19M	6.26M
Weighted Average Basic & Diluted Shares Outstanding	52.64M	53.20M	53.99M	54.70M	57.61M	58.35M	5.89M	-	6.06M	6.19M	6.26M

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/24/2023	12/24/2023	3/24/2024	6/23/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.98	0.69	-12	-4.27	-10	-17	-13	-1.92	-6.41	-5.61	-2.15
Consolidated Net Income / (Loss)	-1.33	1.23	-12	-3.69	-9.48	-16	-12	-1.68	-5.83	-5.13	-1.71
Net Income / (Loss) Continuing Operations	-1.33	1.23	-12	-3.69	-9.48	-16	-12	-1.68	-5.83	-5.13	-1.71
Total Pre-Tax Income	-0.44	1.48	-14	-4.54	-14	-13	-14	-4.42	-11	-4.20	1.74
Total Operating Income	12	6.29	-5.76	3.80	-4.36	-4.47	-5.66	3.98	-2.77	5.21	8.54
Total Gross Profit	105	96	90	91	100	84	81	94	87	81	75
Total Revenue	164	156	147	151	159	145	137	141	139	130	122
Operating Revenue	164	156	147	151	159	145	137	141	139	130	122
Total Cost of Revenue	59	60	57	59	59	60	57	47	52	49	47
Operating Cost of Revenue	59	60	57	59	59	60	57	47	52	49	47
Total Operating Expenses	97	90	96	87	104	89	86	90	90	77	68
Selling, General & Admin Expense	74	75	72	74	81	75	71	77	71	69	63
Depreciation Expense	7.52	7.30	7.29	6.85	6.18	6.27	5.17	3.78	3.62	3.58	3.52
Other Operating Expenses / (Income)	5.10	4.84	4.16	4.10	15	3.62	3.11	3.27	5.92	2.96	2.52
Impairment Charge	-	-	-	-	-	-	-	-	-	-0.00	-0.90
Restructuring Charge	4.55	4.27	4.14	3.80	7.05	5.15	6.52	7.14	7.04	3.15	3.64
Other Special Charges / (Income)	6.14	-1.47	7.62	-1.42	-	-0.93	0.13	-1.56	-	-2.00	-3.84
Total Other Income / (Expense), net	-8.37	-4.81	-8.72	-8.34	-9.29	-8.51	-8.14	-8.40	-8.68	-8.32	-5.80
Interest Expense	10	10	10	10	11	10	9.95	10	10	10	7.63
Interest & Investment Income	2.99	1.54	1.21	1.12	0.70	1.12	1.16	0.69	1.32	1.08	1.01
Other Income / (Expense), net	-1.04	3.78	0.29	0.62	0.81	0.65	0.66	1.05	0.15	0.85	0.83
Income Tax Expense	0.89	0.25	-2.84	-0.85	-4.17	3.24	-1.78	-2.74	-5.62	0.93	3.45
Net Income / (Loss) Attributable to Noncontrolling Interest	0.66	0.55	0.54	0.58	0.61	0.52	0.50	0.24	0.58	0.49	0.44
Basic Earnings per Share	($0.34)	$0.12	($2.06)	($0.73)	($1.68)	($2.80)	($2.07)	($0.31)	($1.02)	($0.92)	($0.16)
Weighted Average Basic Shares Outstanding	6.06M	6.14M	6.14M	6.19M	6.19M	6.19M	6.22M	6.26M	6.26M	22.24M	22.23M
Diluted Earnings per Share	($0.33)	$0.12	($2.06)	($0.73)	($1.68)	($2.80)	($2.07)	($0.31)	($1.02)	($0.92)	($0.16)
Weighted Average Diluted Shares Outstanding	6.06M	6.14M	6.14M	6.19M	6.19M	6.19M	6.22M	6.26M	6.26M	22.24M	22.23M
Weighted Average Basic & Diluted Shares Outstanding	6.06M	6.14M	6.14M	6.19M	6.19M	6.19M	6.22M	6.26M	6.26M	22.24M	22.23M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/27/2015	9/25/2016	9/24/2017	9/30/2018	9/29/2019	9/27/2020	9/26/2021	9/25/2022	9/24/2023	9/29/2024	9/28/2025
Net Change in Cash & Equivalents	-5.57	5.85	-6.36	-3.48	3.27	25	-7.62	-9.93	-1.64	-4.95	0.39
Net Cash From Operating Activities	74	87	72	59	58	50	50	2.85	-3.18	1.12	-5.54
Net Cash From Continuing Operating Activities	74	79	72	61	58	50	50	2.85	-3.18	1.12	-5.54
Net Income / (Loss) Continuing Operations	24	36	29	47	16	-0.13	25	0.10	-2.73	-24	-36
Consolidated Net Income / (Loss)	24	36	29	47	16	-0.13	25	0.10	-2.73	-24	-36
Depreciation Expense	46	43	41	32	29	36	43	37	31	28	19
Non-Cash Adjustments To Reconcile Net Income	3.13	-25	6.23	12	12	17	-15	9.06	9.44	23	31
Changes in Operating Assets and Liabilities, net	1.47	25	-3.83	-30	0.07	-3.18	-2.22	-43	-41	-26	-20
Net Cash From Investing Activities	-0.21	35	-9.46	-0.07	-11	-118	-2.28	6.91	8.64	3.73	7.71
Net Cash From Continuing Investing Activities	-0.21	35	-9.46	-0.07	-11	-118	-2.28	6.91	8.64	3.73	7.71
Purchase of Property, Plant & Equipment	-9.71	-7.09	-4.08	-6.03	-5.90	-8.10	-7.48	-7.54	-5.11	-9.21	-1.54
Other Investing Activities, net	0.63	32	-0.51	-0.67	0.01	-0.81	0.59	-0.39	14	13	9.25
Net Cash From Financing Activities	-80	-108	-69	-64	-43	93	-55	-20	-7.09	-9.80	-1.78
Net Cash From Continuing Financing Activities	-80	-108	-69	-64	-43	93	-55	-20	-7.09	-9.80	-1.78
Repayment of Debt	-85	-113	-74	-74	-44	-482	-56	-20	-6.81	-9.80	-1.78
Repurchase of Common Equity	-	-	-	-	-0.47	-0.58	0.25	0.37	-0.28	0.00	0.00

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/24/2023	12/24/2023	3/24/2024	6/23/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026
Net Change in Cash & Equivalents	-2.41	0.82	0.74	-2.68	-3.83	-3.48	-1.46	9.46	-4.14	2.64	41
Net Cash From Operating Activities	-1.46	0.08	3.20	-1.90	-0.26	-7.34	-0.79	8.89	-6.31	4.47	-6.25
Net Cash From Continuing Operating Activities	-1.46	0.08	3.20	-1.90	-0.26	-7.34	-0.79	8.89	-6.31	4.47	-6.25
Net Income / (Loss) Continuing Operations	-1.33	1.23	-12	-3.69	-9.48	-16	-12	-1.68	-5.83	-5.13	-1.71
Consolidated Net Income / (Loss)	-1.33	1.23	-12	-3.69	-9.48	-16	-12	-1.68	-5.83	-5.13	-1.71
Depreciation Expense	7.52	7.30	7.29	6.85	6.18	6.27	5.17	3.78	3.63	3.58	3.52
Non-Cash Adjustments To Reconcile Net Income	8.60	-1.18	11	2.74	10	3.20	10	6.61	11	2.90	1.43
Changes in Operating Assets and Liabilities, net	-16	-7.27	-3.46	-7.80	-7.26	-0.58	-4.37	0.18	-15	3.11	-9.49
Net Cash From Investing Activities	3.32	2.10	-1.94	0.36	3.22	3.86	-0.67	1.94	2.58	-0.76	0.47
Net Cash From Continuing Investing Activities	3.32	2.10	-1.94	0.36	3.22	3.86	-0.67	1.94	2.58	-0.76	0.47
Purchase of Property, Plant & Equipment	-1.32	-1.03	-1.95	-3.57	-2.66	-1.55	-1.37	-0.62	2.00	-0.76	-0.58
Other Investing Activities, net	12	-0.02	-0.00	7.09	5.87	5.41	0.70	8.67	0.58	0.00	1.05
Net Cash From Financing Activities	-4.27	-1.36	-0.52	-1.14	-6.78	0.00	-	-1.37	-0.41	-1.08	46
Net Cash From Continuing Financing Activities	-4.27	-1.36	-0.52	-1.14	-6.78	0.00	-	-1.37	-0.41	-1.08	46
Repurchase of Common Equity	-0.01	0.22	-	-	-	0.00	-	-	-	-1.08	-3.57

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/27/2015	9/25/2016	9/24/2017	9/30/2018	9/29/2019	9/27/2020	9/26/2021	9/25/2022	9/24/2023	9/29/2024	9/28/2025
Total Assets	748	663	621	575	555	864	844	744	712	649	602
Total Current Assets	83	77	68	59	60	109	109	109	107	98	89
Cash & Equivalents	11	17	11	5.38	8.65	34	26	16	15	9.60	9.99
Accounts Receivable	59	51	49	44	43	53	65	70	69	61	55
Inventories, net	3.91	4.25	3.62	5.68	3.77	7.53	6.30	8.27	7.50	5.64	4.70
Prepaid Expenses	-	-	-	-	-	-	-	-	-	22	20
Plant, Property, & Equipment, net	144	129	114	92	82	106	83	74	61	44	36
Plant, Property & Equipment, gross	493	476	472	446	405	395	355	327	312	279	268
Accumulated Depreciation	349	347	358	354	323	289	272	253	250	234	232
Total Noncurrent Assets	521	457	439	424	413	650	651	561	544	507	477
Long-Term Investments	44	39	39	40	39	34	33	33	33	34	33
Goodwill	244	244	246	246	250	328	330	330	330	328	324
Intangible Assets	186	158	136	120	107	183	157	121	95	70	52
Employee Benefit Assets	13	14	15	16	14	20	53	20	32	28	33
Other Noncurrent Operating Assets	34	1.69	1.57	1.42	1.39	85	79	57	54	47	35
Total Liabilities & Shareholders' Equity	748	663	621	575	555	864	844	744	712	649	602
Total Liabilities	906	790	712	612	592	894	800	727	688	657	643
Total Current Liabilities	105	99	98	65	61	144	142	131	114	115	113
Accounts Payable	20	18	17	13	17	17	20	29	36	36	42
Accrued Expenses	27	24	23	20	18	44	45	45	29	39	38
Current Deferred Revenue	29	28	27	24	22	60	61	50	41	32	26
Other Current Liabilities	-	-	-	-	0.00	8.58	8.61	7.86	7.76	8.14	7.30
Total Noncurrent Liabilities	801	691	614	546	531	750	659	596	574	541	529
Long-Term Debt	701	566	496	461	429	525	477	463	456	446	455
Noncurrent Deferred Revenue	4.86	5.02	5.50	6.56	8.74	18	9.17	8.29	5.81	3.46	3.16
Noncurrent Deferred & Payable Income Tax Liabilities	22	38	53	39	30	15	54	43	41	28	22
Noncurrent Employee Benefit Liabilities	64	66	49	29	50	115	33	10	9.20	8.08	5.61
Other Noncurrent Operating Liabilities	9.68	16	10	11	13	77	86	72	61	55	43
Total Equity & Noncontrolling Interests	-159	-128	-91	-36	-37	-30	43	17	24	-7.33	-41
Total Preferred & Common Equity	-159	-128	-92	-37	-38	-32	41	15	21	-9.89	-43
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-160	-129	-92	-37	-38	-32	41	15	21	-9.89	-43
Common Stock	247	250	252	254	256	257	258	260	261	263	264
Retained Earnings	-391	-356	-329	-280	-265	-269	-259	-261	-266	-292	-330
Accumulated Other Comprehensive Income / (Loss)	-16	-23	-16	-12	-29	-20	42	17	27	20	23
Noncontrolling Interest	0.81	0.94	1.02	1.09	1.65	1.93	2.13	2.23	2.47	2.56	2.35

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	12/24/2023	3/24/2024	6/23/2024	12/29/2024	3/30/2025	6/29/2025	12/28/2025	3/29/2026
Total Assets	703	685	677	633	624	623	593	619
Total Current Assets	106	102	102	92	93	97	83	112
Cash & Equivalents	15	16	13	6.12	4.66	14	13	53
Accounts Receivable	68	59	61	60	62	57	51	46
Inventories, net	7.64	6.70	5.97	6.23	5.62	5.27	4.83	5.18
Prepaid Expenses	15	20	21	20	20	20	14	8.44
Plant, Property, & Equipment, net	59	58	57	43	42	40	35	33
Plant, Property & Equipment, gross	308	304	299	275	275	272	268	263
Accumulated Depreciation	249	245	242	232	233	233	234	230
Total Noncurrent Assets	537	524	519	498	489	486	475	473
Long-Term Investments	33	33	34	34	34	34	33	33
Goodwill	328	328	328	324	324	324	324	324
Intangible Assets	90	78	74	67	63	61	50	48
Employee Benefit Assets	33	33	34	29	30	31	34	35
Other Noncurrent Operating Assets	53	51	49	45	39	36	34	32
Total Liabilities & Shareholders' Equity	703	685	677	633	624	623	593	619
Total Liabilities	680	674	671	657	660	661	639	622
Total Current Liabilities	113	109	110	119	116	118	112	98
Accounts Payable	39	32	31	45	44	47	50	41
Accrued Expenses	27	31	32	36	36	35	29	25
Current Deferred Revenue	40	38	36	30	29	27	26	26
Other Current Liabilities	7.60	7.43	8.05	7.82	7.67	7.39	7.22	6.87
Total Noncurrent Liabilities	568	565	561	538	544	543	527	523
Long-Term Debt	454	454	450	446	453	455	455	455
Noncurrent Deferred Revenue	5.98	6.22	6.41	3.51	4.28	4.29	3.22	3.27
Noncurrent Deferred & Payable Income Tax Liabilities	41	41	41	28	28	28	22	22
Noncurrent Employee Benefit Liabilities	7.99	7.97	8.00	8.07	8.10	8.09	5.52	5.52
Other Noncurrent Operating Liabilities	59	57	55	52	50	47	40	37
Total Equity & Noncontrolling Interests	22	10	6.49	-24	-36	-38	-46	-3.16
Total Preferred & Common Equity	20	7.91	3.97	-27	-39	-40	-49	-5.47
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	20	7.91	3.97	-27	-39	-40	-49	-5.47
Common Stock	261	262	262	263	263	263	264	310
Retained Earnings	-266	-278	-282	-309	-322	-324	-336	-338
Accumulated Other Comprehensive Income / (Loss)	25	24	24	20	20	20	23	23
Noncontrolling Interest	2.46	2.52	2.52	2.48	2.82	2.30	2.30	2.31

This table displays calculated financial ratios and metrics derived from Lee Enterprises' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/27/2015	9/25/2016	9/24/2017	9/30/2018	9/29/2019	9/27/2020	9/26/2021	9/25/2022	9/24/2023	9/29/2024	9/28/2025
DEI Shares Outstanding	54,551,666.00	55,771,489.00	56,717,387.00	114,228,466.00	57,823,272.00	58,358,584.00	5,888,983.00	5,977,315.00	6,072,392.00	6,190,554.00	6,262,967.00
DEI Adjusted Shares Outstanding	5,455,167.00	5,577,149.00	5,671,739.00	11,422,847.00	5,782,327.00	5,835,858.00	5,888,983.00	5,977,315.00	6,072,392.00	6,190,554.00	6,262,967.00
DEI Earnings Per Adjusted Shares Outstanding	4.27	6.27	4.85	4.01	2.47	-0.34	3.86	-0.34	-0.87	-4.17	-6.00
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.87%	-5.27%	-7.72%	-4.05%	-6.27%	21.21%	28.58%	-1.72%	-11.50%	-11.54%	-8.02%
EBITDA Growth	8.63%	6.57%	-16.45%	-19.23%	-11.90%	-10.93%	43.62%	-38.62%	-6.05%	-52.05%	-62.47%
EBIT Growth	20.07%	11.59%	-20.82%	-17.48%	-13.72%	-26.51%	62.81%	-51.96%	4.01%	-85.73%	-217.25%
NOPAT Growth	12.52%	-8.90%	-1.86%	101.25%	-61.34%	-104.75%	2,141.24%	-94.65%	1,010.99%	-100.07%	-34,238.46%
Net Income Growth	217.01%	48.12%	-20.58%	64.47%	-66.19%	-100.82%	19,170.77%	-99.61%	-2,917.53%	-762.53%	-51.64%
EPS Growth	230.77%	48.84%	-21.88%	64.00%	-66.19%	-100.82%	1,214.29%	-108.97%	-157.14%	-383.33%	-42.53%
Operating Cash Flow Growth	-9.26%	16.93%	-17.00%	-17.96%	-2.73%	-13.54%	0.42%	-94.30%	-211.50%	135.11%	-596.06%
Free Cash Flow Firm Growth	18.97%	43.00%	-51.01%	43.05%	-27.63%	-212.00%	118.98%	119.38%	-36.61%	47.22%	-52.15%
Invested Capital Growth	-8.94%	-20.56%	-5.60%	0.24%	-9.97%	26.25%	5.88%	-7.87%	0.29%	-8.45%	-6.00%
Revenue Q/Q Growth	-1.54%	-1.27%	-1.39%	1.84%	-4.92%	12.38%	0.27%	-0.04%	-4.11%	-0.88%	-3.35%
EBITDA Q/Q Growth	4.43%	-9.38%	3.00%	-5.61%	-2.44%	8.02%	0.91%	-20.48%	17.27%	-21.25%	-11.61%
EBIT Q/Q Growth	7.65%	-12.23%	4.91%	-4.87%	-2.45%	5.17%	4.02%	-33.95%	44.05%	-58.07%	12.55%
NOPAT Q/Q Growth	13.36%	-4.00%	-10.51%	18.51%	-24.14%	-108.97%	41.20%	-93.12%	96.68%	-100.28%	15.13%
Net Income Q/Q Growth	38.49%	-20.82%	11.02%	2.03%	-16.28%	-109.67%	27.78%	-99.19%	65.89%	-52.88%	9.26%
EPS Q/Q Growth	38.71%	-23.81%	16.28%	3.80%	-16.28%	-109.67%	32.65%	-121.21%	47.37%	-45.00%	9.62%
Operating Cash Flow Q/Q Growth	-5.30%	13.61%	-15.63%	-4.97%	25.25%	-3.91%	-8.33%	-64.44%	-419.70%	1,414.12%	-1,199.40%
Free Cash Flow Firm Q/Q Growth	-5.04%	32.04%	-43.04%	15.66%	25.60%	-131.25%	-67.82%	421.17%	-58.32%	121.01%	-51.05%
Invested Capital Q/Q Growth	-2.94%	-12.43%	-0.98%	-0.33%	-8.57%	-1.24%	10.61%	-8.14%	2.21%	-4.18%	0.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	63.14%	62.60%	62.41%	63.39%	64.13%	60.68%	58.36%	59.31%	61.38%	61.63%	61.59%
EBITDA Margin	22.76%	25.61%	23.19%	19.52%	18.35%	13.48%	15.06%	9.41%	9.99%	5.41%	2.21%
Operating Margin	15.59%	15.54%	14.38%	14.05%	13.26%	7.58%	7.12%	2.46%	5.38%	0.00%	-1.59%
EBIT Margin	15.74%	18.54%	15.91%	13.68%	12.59%	7.63%	9.67%	4.73%	5.55%	0.90%	-1.14%
Profit (Net Income) Margin	3.75%	5.86%	5.05%	8.65%	3.12%	-0.02%	3.12%	0.01%	-0.40%	-3.86%	-6.36%
Tax Burden Percent	64.14%	61.89%	71.13%	152.65%	66.73%	-4.57%	77.36%	12.20%	88.68%	75.60%	83.81%
Interest Burden Percent	37.14%	51.10%	44.60%	41.42%	37.13%	6.03%	41.72%	2.15%	-8.03%	-569.34%	664.11%
Effective Tax Rate	35.86%	38.11%	28.87%	-52.65%	33.27%	104.57%	22.64%	87.80%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	11.98%	12.76%	14.55%	30.11%	12.24%	-0.54%	9.64%	0.52%	6.04%	0.00%	-1.63%
ROIC Less NNEP Spread (ROIC-NNEP)	6.26%	8.95%	8.76%	14.68%	5.03%	-0.07%	5.40%	-0.01%	-0.97%	-5.82%	-8.87%
Return on Net Nonoperating Assets (RNNOA)	-26.45%	-37.94%	-40.70%	-103.93%	-55.77%	0.93%	355.03%	-0.20%	-19.39%	-287.96%	149.67%
Return on Equity (ROE)	-14.47%	-25.18%	-26.15%	-73.82%	-43.53%	0.39%	364.67%	0.32%	-13.35%	-287.97%	148.04%
Cash Return on Invested Capital (CROIC)	21.33%	35.67%	20.31%	29.87%	22.73%	-23.75%	3.92%	8.71%	5.75%	8.82%	4.55%
Operating Return on Assets (OROA)	13.09%	16.15%	14.05%	12.44%	11.36%	6.65%	9.00%	4.65%	5.27%	0.81%	-1.03%
Return on Assets (ROA)	3.12%	5.11%	4.46%	7.87%	2.81%	-0.02%	2.90%	0.01%	-0.38%	-3.46%	-5.72%
Return on Common Equity (ROCE)	-14.56%	-25.43%	-26.45%	-75.04%	-45.17%	0.41%	255.67%	0.30%	-11.82%	-199.65%	163.06%
Return on Equity Simple (ROE_SIMPLE)	-15.26%	-28.03%	-31.01%	-125.95%	-41.34%	0.41%	60.33%	0.65%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	65	59	58	117	45	-2.14	44	2.34	26	-0.02	-6.25
NOPAT Margin	10.00%	9.62%	10.23%	21.45%	8.85%	-0.35%	5.51%	0.30%	3.76%	0.00%	-1.11%
Net Nonoperating Expense Percent (NNEP)	5.71%	3.81%	5.78%	15.43%	7.21%	-0.47%	4.24%	0.54%	7.01%	5.81%	7.24%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	0.49%	5.43%	0.00%	-1.51%
Cost of Revenue to Revenue	36.86%	37.40%	37.59%	36.61%	35.87%	39.32%	41.64%	40.69%	38.62%	38.37%	38.41%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	36.70%	37.99%	41.97%	40.97%	44.16%	46.74%	49.39%	52.40%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	47.55%	47.06%	48.03%	49.33%	50.87%	53.09%	52.05%	56.85%	56.95%	61.64%	63.17%
Earnings before Interest and Taxes (EBIT)	102	114	90	74	64	47	77	37	38	5.48	-6.42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	148	157	131	106	94	83	120	73	69	33	12
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	3.40	6.78	3.13	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	0.00
Price to Revenue (P/Rev)	1.49	3.38	2.10	2.78	2.28	0.77	0.18	0.13	0.10	0.09	0.06
Price to Earnings (P/E)	41.41	59.34	43.34	33.05	81.46	0.00	6.15	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%	0.00%
Earnings Yield	2.41%	1.69%	2.31%	3.03%	1.23%	0.00%	16.27%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.17	6.37	4.31	4.99	4.43	2.16	1.21	1.20	1.10	1.16	1.21
Enterprise Value to Revenue (EV/Rev)	2.52	4.25	2.94	3.56	3.04	1.54	0.71	0.66	0.69	0.75	0.80
Enterprise Value to EBITDA (EV/EBITDA)	11.09	16.59	12.69	18.23	16.55	11.42	4.73	7.04	6.91	13.84	36.13
Enterprise Value to EBIT (EV/EBIT)	16.04	22.92	18.51	26.02	24.11	20.16	7.36	14.01	12.42	83.62	0.00
Enterprise Value to NOPAT (EV/NOPAT)	25.24	44.18	28.78	16.59	34.32	0.00	12.93	220.73	18.32	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	21.98	29.97	23.09	32.65	26.84	19.07	11.30	181.19	0.00	410.01	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	14.17	15.80	20.62	16.72	18.48	0.00	31.76	13.23	19.25	12.56	25.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-4.58	-4.63	-5.77	-12.90	-11.74	-18.17	11.16	26.83	19.22	-60.80	-11.12
Long-Term Debt to Equity	-4.42	-4.44	-5.44	-12.71	-11.66	-17.70	11.02	26.83	19.22	-60.80	-11.12
Financial Leverage	-4.22	-4.24	-4.64	-7.08	-11.09	-12.89	65.78	13.84	20.05	49.48	-16.87
Leverage Ratio	-4.64	-4.93	-5.87	-9.38	-15.47	-21.35	125.59	26.26	35.55	83.12	-25.90
Compound Leverage Factor	-1.72	-2.52	-2.62	-3.89	-5.74	-1.29	52.39	0.57	-2.85	-473.22	-172.02
Debt to Total Capital	127.95%	127.53%	120.95%	108.40%	109.31%	105.83%	91.78%	96.41%	95.06%	101.67%	109.88%
Short-Term Debt to Total Capital	4.41%	5.41%	6.93%	1.63%	0.75%	2.70%	1.16%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	123.55%	122.12%	114.02%	106.77%	108.57%	103.13%	90.62%	96.41%	95.06%	101.67%	109.88%
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%	0.00%
Noncontrolling Interests to Total Capital	0.14%	0.20%	0.23%	0.25%	0.42%	0.38%	0.41%	0.47%	0.51%	0.58%	0.57%
Common Equity to Total Capital	-28.19%	-27.85%	-21.19%	-8.66%	-9.73%	-6.21%	7.82%	3.13%	4.43%	-2.25%	-10.45%
Debt to EBITDA	4.92	3.76	4.01	4.41	4.62	6.46	4.03	6.30	6.60	13.48	36.67
Net Debt to EBITDA	4.54	3.40	3.63	3.98	4.11	5.65	3.54	5.62	5.91	12.16	33.19
Long-Term Debt to EBITDA	4.75	3.60	3.78	4.34	4.59	6.30	3.98	6.30	6.60	13.48	36.67
Debt to NOPAT	11.19	10.00	9.08	4.01	9.58	-251.14	11.03	197.51	17.52	-24,502.36	-72.88
Net Debt to NOPAT	10.34	9.05	8.22	3.62	8.52	-219.59	9.69	176.36	15.67	-22,107.80	-65.97
Long-Term Debt to NOPAT	10.81	9.58	8.56	3.95	9.52	-244.73	10.89	197.51	17.52	-24,502.36	-72.88
Altman Z-Score	1.19	2.28	1.60	2.16	1.81	0.73	0.87	0.77	0.67	0.36	0.12
Noncontrolling Interest Sharing Ratio	-0.61%	-1.00%	-1.15%	-1.66%	-3.76%	-5.39%	29.89%	7.22%	11.47%	30.67%	-10.15%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.79	0.78	0.69	0.91	0.99	0.76	0.77	0.83	0.93	0.85	0.79
Quick Ratio	0.67	0.69	0.61	0.75	0.84	0.60	0.64	0.65	0.73	0.61	0.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	116	165	81	116	84	-94	18	39	25	36	17
Operating Cash Flow to CapEx	8,908.61%	0.00%	4,831.62%	0.00%	1,311.12%	0.00%	1,749.14%	0.00%	-62.29%	12.13%	-359.11%
Free Cash Flow to Firm to Interest Expense	1.60	2.57	1.41	2.19	1.76	-1.97	0.40	0.94	0.60	0.88	0.43
Operating Cash Flow to Interest Expense	1.03	1.36	1.26	1.12	1.21	1.04	1.12	0.07	-0.08	0.03	-0.14
Operating Cash Flow Less CapEx to Interest Expense	1.02	1.40	1.23	1.13	1.12	1.33	1.05	0.24	-0.20	-0.20	-0.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.83	0.87	0.88	0.91	0.90	0.87	0.93	0.98	0.95	0.90	0.90
Accounts Receivable Turnover	10.70	11.15	11.25	11.68	11.82	12.99	13.51	11.61	9.97	9.42	9.76
Inventory Turnover	45.23	56.27	54.17	42.83	38.69	43.00	47.85	43.65	33.85	35.69	41.79
Fixed Asset Turnover	4.31	4.51	4.67	5.27	5.85	6.59	8.41	9.95	10.24	11.58	14.07
Accounts Payable Turnover	10.09	12.01	12.12	13.38	12.40	14.33	17.61	12.96	8.23	6.46	5.54
Days Sales Outstanding (DSO)	34.12	32.75	32.45	31.26	30.87	28.09	27.02	31.45	36.61	38.73	37.41
Days Inventory Outstanding (DIO)	8.07	6.49	6.74	8.52	9.43	8.49	7.63	8.36	10.78	10.23	8.73
Days Payable Outstanding (DPO)	36.16	30.39	30.12	27.28	29.44	25.47	20.73	28.16	44.37	56.47	65.90
Cash Conversion Cycle (CCC)	6.03	8.84	9.07	12.50	10.87	11.11	13.92	11.66	3.01	-7.51	-19.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	516	410	387	388	349	441	467	430	432	395	371
Invested Capital Turnover	1.20	1.33	1.42	1.40	1.38	1.56	1.75	1.74	1.60	1.48	1.47
Increase / (Decrease) in Invested Capital	-51	-106	-23	0.91	-39	92	26	-37	1.25	-36	-24
Enterprise Value (EV)	1,637	2,610	1,669	1,936	1,548	951	566	517	477	458	449
Market Capitalization	966	2,075	1,191	1,513	1,162	479	140	102	66	53	34
Book Value per Share	($2.93)	($2.31)	($1.63)	($0.65)	($0.67)	($0.54)	$6.98	$2.51	$3.50	($1.60)	($6.91)
Tangible Book Value per Share	($10.81)	($9.52)	($8.37)	($7.07)	($6.85)	($9.30)	($75.70)	($72.92)	($66.41)	($65.91)	($66.92)
Total Capital	567	463	435	432	396	509	526	480	479	439	415
Total Debt	726	591	527	468	432	538	483	463	456	446	455
Total Long-Term Debt	701	566	496	461	429	525	477	463	456	446	455
Net Debt	671	535	477	422	384	471	424	413	408	402	412
Capital Expenditures (CapEx)	0.84	-2.79	1.50	-0.60	4.40	-14	2.86	-7.30	5.11	9.21	1.54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.75	-14	-11	-4.35	-6.43	-55	-53	-38	-22	-27	-34
Debt-free Net Working Capital (DFNWC)	2.38	3.31	-0.19	1.03	2.22	-22	-27	-22	-7.81	-18	-24
Net Working Capital (NWC)	-23	-22	-30	-6.00	-0.74	-35	-33	-22	-7.81	-18	-24
Net Nonoperating Expense (NNE)	41	23	29	70	29	-2.01	19	2.24	29	24	29
Net Nonoperating Obligations (NNO)	675	538	478	424	386	471	424	413	408	402	412
Total Depreciation and Amortization (D&A)	46	43	41	32	29	36	43	37	31	28	19
Debt-free, Cash-free Net Working Capital to Revenue	-1.35%	-2.23%	-1.91%	-0.80%	-1.26%	-8.94%	-6.65%	-4.89%	-3.23%	-4.45%	-6.03%
Debt-free Net Working Capital to Revenue	0.37%	0.54%	-0.03%	0.19%	0.44%	-3.48%	-3.36%	-2.82%	-1.13%	-2.88%	-4.25%
Net Working Capital to Revenue	-3.49%	-3.54%	-5.36%	-1.10%	-0.14%	-5.71%	-4.13%	-2.82%	-1.13%	-2.88%	-4.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.40	$6.60	$5.10	$8.40	$2.60	($0.50)	$3.99	($0.35)	($0.90)	($4.35)	($6.20)
Adjusted Weighted Average Basic Shares Outstanding	5.46M	5.56M	5.67M	5.71M	5.76M	5.84M	5.89M	0.00	6.06M	6.19M	6.26M
Adjusted Diluted Earnings per Share	$4.30	$6.40	$5.00	$8.20	$2.50	($0.50)	$3.91	($0.35)	($0.90)	($4.35)	($6.20)
Adjusted Weighted Average Diluted Shares Outstanding	5.46M	5.56M	5.67M	5.71M	5.76M	5.84M	5.89M	0.00	6.06M	6.19M	6.26M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	5.46M	5.56M	5.67M	5.71M	5.76M	5.84M	5.89M	0.00	6.06M	6.19M	6.26M
Normalized Net Operating Profit after Tax (NOPAT)	67	60	63	62	55	39	56	36	36	13	12
Normalized NOPAT Margin	10.34%	9.71%	11.03%	11.38%	10.69%	6.26%	7.00%	4.63%	5.24%	2.20%	2.11%
Pre Tax Income Margin	5.85%	9.47%	7.09%	5.67%	4.68%	0.46%	4.03%	0.10%	-0.45%	-5.10%	-7.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.41	1.77	1.57	1.41	1.35	0.99	1.72	0.88	0.93	0.13	-0.16
NOPAT to Interest Expense	0.90	0.92	1.01	2.21	0.95	-0.04	0.98	0.06	0.63	0.00	-0.15
EBIT Less CapEx to Interest Expense	1.40	1.82	1.54	1.42	1.26	1.27	1.65	1.06	0.80	-0.09	-0.20
NOPAT Less CapEx to Interest Expense	0.88	0.96	0.98	2.22	0.86	0.24	0.91	0.23	0.50	-0.22	-0.19
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	2.97%	-449.23%	-1.02%	-380.41%	-10.21%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Lee Enterprises' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/24/2023	12/24/2023	3/24/2024	6/23/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026
DEI Shares Outstanding	6,072,392.00	6,072,392.00	6,143,119.00	6,143,119.00	6,190,554.00	6,189,997.00	6,190,939.00	6,220,064.00	6,262,967.00	6,261,825.00	22,239,629.00
DEI Adjusted Shares Outstanding	6,072,392.00	6,072,392.00	6,143,119.00	6,143,119.00	6,190,554.00	6,189,997.00	6,190,939.00	6,220,064.00	6,262,967.00	6,261,825.00	22,239,629.00
DEI Earnings Per Adjusted Shares Outstanding	-0.33	0.11	-1.98	-0.69	-1.63	-2.71	-2.02	-0.31	-1.02	-0.90	-0.10
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-15.30%	-15.91%	-14.14%	-12.10%	-3.31%	-7.14%	-6.26%	-6.17%	-12.28%	-10.03%	-11.22%
EBITDA Growth	128.30%	-15.53%	-81.95%	-44.32%	-85.46%	-85.93%	-90.65%	-21.85%	-62.04%	294.11%	7,433.92%
EBIT Growth	997.37%	-20.53%	-328.47%	-65.37%	-133.60%	-137.94%	8.51%	13.71%	25.98%	258.41%	287.36%
NOPAT Growth	273.76%	-41.83%	-363.40%	-74.17%	-137.62%	-159.79%	1.74%	4.55%	36.47%	216.41%	-111.95%
Net Income Growth	79.94%	-32.40%	-116.85%	-272.96%	-615.40%	-1,415.82%	-3.26%	54.59%	38.49%	68.40%	85.78%
EPS Growth	0.00%	-36.84%	-103.96%	-392.00%	-409.09%	-2,433.33%	-0.49%	57.53%	39.29%	67.14%	92.27%
Operating Cash Flow Growth	-168.46%	103.61%	-1.08%	30.56%	82.16%	-9,271.25%	-124.69%	567.51%	-2,316.09%	160.94%	-690.76%
Free Cash Flow Firm Growth	-78.58%	-85.38%	-98.28%	-77.74%	386.77%	571.50%	3,463.22%	264.12%	-34.92%	-47.39%	-83.85%
Invested Capital Growth	0.29%	-0.26%	-1.17%	-2.35%	-8.45%	-10.72%	-8.57%	-10.43%	-6.00%	-4.93%	-3.56%
Revenue Q/Q Growth	-4.26%	-5.08%	-5.86%	2.75%	5.31%	-8.84%	-4.97%	2.85%	-1.55%	-6.50%	-6.23%
EBITDA Q/Q Growth	-10.65%	50.24%	-89.47%	516.52%	-76.67%	-7.04%	-93.00%	5,050.88%	-88.67%	865.13%	33.75%
EBIT Q/Q Growth	-17.25%	149.59%	-154.26%	180.88%	-180.29%	-7.66%	-30.86%	200.52%	-152.27%	330.41%	54.77%
NOPAT Q/Q Growth	-21.23%	47.60%	-176.94%	166.05%	-214.73%	-2.54%	-26.46%	170.27%	-169.72%	287.88%	-330.27%
Net Income Q/Q Growth	-162.09%	193.06%	-1,043.71%	68.28%	-156.81%	-71.16%	25.94%	86.05%	-247.91%	12.09%	66.66%
EPS Q/Q Growth	-232.00%	136.36%	-1,816.67%	64.56%	-130.14%	-66.67%	26.07%	85.02%	-229.03%	9.80%	82.61%
Operating Cash Flow Q/Q Growth	46.59%	105.47%	3,900.00%	-159.44%	86.28%	-2,711.11%	89.23%	1,225.57%	-170.92%	170.90%	-239.72%
Free Cash Flow Firm Q/Q Growth	-87.84%	176.74%	-86.06%	1,318.67%	165.81%	27.75%	-26.04%	44.97%	-52.49%	3.27%	-77.29%
Invested Capital Q/Q Growth	2.21%	-0.89%	-3.06%	-0.55%	-4.18%	-3.34%	-0.74%	-2.57%	0.56%	-2.24%	0.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.00%	61.67%	61.24%	60.63%	62.90%	58.32%	58.76%	66.43%	62.86%	61.99%	61.67%
EBITDA Margin	11.03%	11.16%	1.25%	7.48%	1.66%	1.69%	0.12%	6.23%	0.72%	7.41%	10.56%
Operating Margin	7.07%	4.04%	-3.93%	2.53%	-2.75%	-3.09%	-4.12%	2.81%	-1.99%	4.00%	7.00%
EBIT Margin	6.44%	6.47%	-3.73%	2.94%	-2.24%	-2.64%	-3.64%	3.56%	-1.89%	4.65%	7.68%
Profit (Net Income) Margin	-0.81%	0.79%	-7.94%	-2.45%	-5.98%	-11.22%	-8.75%	-1.19%	-4.19%	-3.94%	-1.40%
Tax Burden Percent	303.20%	83.25%	80.40%	81.30%	69.44%	124.98%	87.10%	37.92%	50.91%	122.19%	-98.27%
Interest Burden Percent	-4.14%	14.71%	264.83%	-102.71%	384.64%	339.73%	275.90%	-87.94%	435.97%	-69.30%	18.56%
Effective Tax Rate	0.00%	16.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	198.27%
Return on Invested Capital (ROIC)	7.94%	5.20%	-4.20%	2.61%	-2.85%	-3.21%	-4.29%	2.93%	-2.05%	4.12%	-9.84%
ROIC Less NNEP Spread (ROIC-NNEP)	5.64%	4.22%	-6.08%	1.05%	-4.44%	-6.44%	-6.26%	1.84%	-3.00%	1.97%	-8.14%
Return on Net Nonoperating Assets (RNNOA)	113.04%	84.73%	-210.91%	40.55%	-219.48%	2,629.92%	199.76%	-47.10%	50.65%	-22.77%	162.46%
Return on Equity (ROE)	120.98%	89.93%	-215.11%	43.16%	-222.33%	2,626.71%	195.47%	-44.17%	48.60%	-18.65%	152.62%
Cash Return on Invested Capital (CROIC)	5.75%	4.47%	4.17%	3.95%	8.82%	9.46%	7.07%	9.12%	4.55%	5.20%	6.44%
Operating Return on Assets (OROA)	6.12%	5.90%	-3.35%	2.59%	-2.01%	-2.38%	-3.29%	3.18%	-1.70%	4.16%	6.58%
Return on Assets (ROA)	-0.77%	0.72%	-7.14%	-2.16%	-5.37%	-10.09%	-7.90%	-1.06%	-3.77%	-3.52%	-1.20%
Return on Common Equity (ROCE)	107.10%	78.98%	-168.30%	33.10%	-154.15%	9,149.20%	236.11%	-50.89%	53.53%	-19.91%	172.57%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-16.85%	-121.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	8.12	5.24	-4.03	2.66	-3.05	-3.13	-3.96	2.78	-1.94	3.65	-8.39
NOPAT Margin	4.95%	3.36%	-2.75%	1.77%	-1.93%	-2.17%	-2.88%	1.97%	-1.39%	2.80%	-6.88%
Net Nonoperating Expense Percent (NNEP)	2.30%	0.98%	1.88%	1.56%	1.59%	3.23%	1.97%	1.10%	0.96%	2.15%	-1.71%
Return On Investment Capital (ROIC_SIMPLE)	1.69%	1.10%	-0.87%	0.58%	-0.70%	-0.74%	-0.95%	0.67%	-0.47%	0.89%	-1.86%
Cost of Revenue to Revenue	36.00%	38.33%	38.76%	39.37%	37.10%	41.68%	41.24%	33.57%	37.14%	38.01%	38.33%
SG&A Expenses to Revenue	44.94%	48.03%	49.33%	49.26%	50.89%	51.66%	52.01%	54.67%	51.22%	52.91%	51.45%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	59.16%	57.63%	65.17%	58.11%	65.66%	61.41%	62.88%	63.61%	64.85%	58.82%	55.50%
Earnings before Interest and Taxes (EBIT)	11	10	-5.47	4.42	-3.55	-3.82	-5.00	5.03	-2.63	6.05	9.37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	18	17	1.83	11	2.63	2.44	0.17	8.81	1.00	9.63	13
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.13	2.55	10.77	18.63	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	0.00
Price to Revenue (P/Rev)	0.10	0.08	0.13	0.12	0.09	0.15	0.11	0.07	0.06	0.04	0.10
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	0.00
Dividend Yield	0.00%	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%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.10	1.07	1.19	1.17	1.16	1.30	1.27	1.21	1.21	1.20	1.16
Enterprise Value to Revenue (EV/Rev)	0.69	0.69	0.77	0.78	0.75	0.83	0.81	0.77	0.80	0.79	0.79
Enterprise Value to EBITDA (EV/EBITDA)	6.91	7.73	9.64	11.48	13.84	27.35	29.08	31.86	36.13	22.15	13.07
Enterprise Value to EBIT (EV/EBIT)	12.42	15.66	22.98	36.92	83.62	0.00	0.00	0.00	0.00	125.83	23.70
Enterprise Value to NOPAT (EV/NOPAT)	18.32	25.41	39.45	73.23	0.00	0.00	0.00	0.00	0.00	822.95	40.35
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	410.01	0.00	0.00	888.30	0.00	69.31	521.42
Enterprise Value to Free Cash Flow (EV/FCFF)	19.25	23.93	28.29	29.23	12.56	12.98	17.11	12.56	25.73	22.45	17.62
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	19.22	20.47	43.53	69.74	-60.80	-18.44	-12.56	-11.93	-11.12	-9.81	-143.95
Long-Term Debt to Equity	19.22	20.47	43.53	69.34	-60.80	-18.44	-12.56	-11.92	-11.12	-9.81	-143.95
Financial Leverage	20.05	20.09	34.68	38.57	49.48	-408.41	-31.91	-25.65	-16.87	-11.55	-19.96
Leverage Ratio	35.55	35.71	60.66	66.39	83.12	-672.11	-50.97	-41.01	-25.90	-17.35	-31.65
Compound Leverage Factor	-1.47	5.25	160.65	-68.19	319.70	-2,283.34	-140.62	36.06	-112.93	12.03	-5.87
Debt to Total Capital	95.06%	95.34%	97.75%	98.59%	101.67%	105.73%	108.65%	109.15%	109.88%	111.35%	100.70%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.56%	0.00%	0.00%	0.00%	0.10%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	95.06%	95.34%	97.75%	98.02%	101.67%	105.73%	108.65%	109.05%	109.88%	111.35%	100.70%
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%	0.00%
Noncontrolling Interests to Total Capital	0.51%	0.52%	0.54%	0.55%	0.58%	0.59%	0.68%	0.55%	0.57%	0.56%	0.51%
Common Equity to Total Capital	4.43%	4.14%	1.70%	0.86%	-2.25%	-6.32%	-9.33%	-9.70%	-10.45%	-11.92%	-1.21%
Debt to EBITDA	6.60	7.66	8.90	10.77	13.48	24.54	27.46	32.44	36.67	23.23	14.09
Net Debt to EBITDA	5.91	6.84	7.93	9.66	12.16	22.34	25.14	29.00	33.19	20.88	11.41
Long-Term Debt to EBITDA	6.60	7.66	8.90	10.71	13.48	24.54	27.46	32.41	36.67	23.23	14.09
Debt to NOPAT	17.52	25.19	36.38	68.75	-24,502.36	-59.03	-60.59	-61.91	-72.88	862.96	43.51
Net Debt to NOPAT	15.67	22.49	32.41	61.62	-22,107.80	-53.75	-55.47	-55.34	-65.97	775.79	35.22
Long-Term Debt to NOPAT	17.52	25.19	36.38	68.36	-24,502.36	-59.03	-60.59	-61.86	-72.88	862.96	43.51
Altman Z-Score	0.54	0.49	0.40	0.40	0.31	0.28	0.21	0.23	0.14	0.13	0.22
Noncontrolling Interest Sharing Ratio	11.47%	12.18%	21.76%	23.31%	30.67%	-248.31%	-20.79%	-15.22%	-10.15%	-6.77%	-13.07%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.93	0.94	0.94	0.92	0.85	0.78	0.80	0.82	0.79	0.74	1.14
Quick Ratio	0.73	0.74	0.69	0.68	0.61	0.55	0.58	0.60	0.57	0.57	1.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6.87	6.36	0.89	13	33	43	32	46	22	22	5.10
Operating Cash Flow to CapEx	-111.17%	0.00%	165.12%	-53.22%	-9.83%	-472.44%	-57.66%	1,443.51%	0.00%	589.84%	-1,082.67%
Free Cash Flow to Firm to Interest Expense	0.66	0.63	0.09	1.25	3.09	4.15	3.17	4.52	2.15	2.19	0.67
Operating Cash Flow to Interest Expense	-0.14	0.01	0.31	-0.19	-0.02	-0.71	-0.08	0.88	-0.62	0.44	-0.82
Operating Cash Flow Less CapEx to Interest Expense	-0.27	0.22	0.12	-0.54	-0.27	-0.86	-0.22	0.82	-0.43	0.36	-0.89
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.95	0.91	0.90	0.88	0.90	0.90	0.90	0.90	0.90	0.89	0.86
Accounts Receivable Turnover	9.97	9.22	10.06	9.46	9.42	9.41	9.73	9.83	9.76	9.90	9.87
Inventory Turnover	33.85	30.21	28.05	33.79	35.69	33.91	38.16	39.73	41.79	37.11	36.16
Fixed Asset Turnover	10.24	10.21	10.06	10.03	11.58	11.77	11.81	12.04	14.07	14.17	14.22
Accounts Payable Turnover	8.23	6.45	6.65	6.73	6.46	5.64	6.18	5.66	5.54	4.32	4.58
Days Sales Outstanding (DSO)	36.61	39.58	36.29	38.58	38.73	38.81	37.52	37.12	37.41	36.86	36.99
Days Inventory Outstanding (DIO)	10.78	12.08	13.01	10.80	10.23	10.76	9.56	9.19	8.73	9.83	10.10
Days Payable Outstanding (DPO)	44.37	56.62	54.91	54.27	56.47	64.67	59.02	64.45	65.90	84.56	79.62
Cash Conversion Cycle (CCC)	3.01	-4.96	-5.61	-4.88	-7.51	-15.10	-11.93	-18.15	-19.76	-37.87	-32.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	432	428	415	412	395	382	379	369	371	363	366
Invested Capital Turnover	1.60	1.55	1.53	1.48	1.48	1.48	1.49	1.49	1.47	1.47	1.43
Increase / (Decrease) in Invested Capital	1.25	-1.12	-4.92	-9.91	-36	-46	-36	-43	-24	-19	-13
Enterprise Value (EV)	477	458	492	482	458	497	480	448	449	434	422
Market Capitalization	66	50	85	74	53	88	62	38	34	23	51
Book Value per Share	$3.50	$3.21	$1.29	$0.65	($1.60)	($4.31)	($6.29)	($6.51)	($6.91)	($7.78)	($0.25)
Tangible Book Value per Share	($66.41)	($64.93)	($64.87)	($64.82)	($65.91)	($67.38)	($68.80)	($68.37)	($66.92)	($67.51)	($16.98)
Total Capital	479	476	464	459	439	422	417	418	415	409	452
Total Debt	456	454	454	453	446	446	453	456	455	455	455
Total Long-Term Debt	456	454	454	450	446	446	453	455	455	455	455
Net Debt	408	405	404	406	402	406	415	407	412	409	369
Capital Expenditures (CapEx)	1.32	-2.12	1.94	3.57	2.66	1.55	1.37	0.62	-2.00	0.76	0.58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-22	-22	-23	-19	-27	-33	-28	-35	-34	-42	-39
Debt-free Net Working Capital (DFNWC)	-7.81	-6.78	-6.91	-5.97	-18	-27	-23	-21	-24	-29	14
Net Working Capital (NWC)	-7.81	-6.78	-6.91	-8.55	-18	-27	-23	-21	-24	-29	14
Net Nonoperating Expense (NNE)	9.44	4.01	7.61	6.35	6.42	13	8.05	4.46	3.89	8.77	-6.69
Net Nonoperating Obligations (NNO)	408	405	404	406	402	406	415	407	412	409	369
Total Depreciation and Amortization (D&A)	7.52	7.30	7.29	6.85	6.18	6.27	5.17	3.78	3.63	3.58	3.52
Debt-free, Cash-free Net Working Capital to Revenue	-3.23%	-3.35%	-3.61%	-3.14%	-4.45%	-5.47%	-4.76%	-5.97%	-6.03%	-7.67%	-7.35%
Debt-free Net Working Capital to Revenue	-1.13%	-1.03%	-1.08%	-0.97%	-2.88%	-4.45%	-3.97%	-3.54%	-4.25%	-5.36%	2.65%
Net Working Capital to Revenue	-1.13%	-1.03%	-1.08%	-1.39%	-2.88%	-4.45%	-3.97%	-3.61%	-4.25%	-5.36%	2.65%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.34)	$0.12	($2.06)	($0.73)	($1.68)	($2.80)	($2.07)	($0.31)	($1.02)	($0.92)	($0.16)
Adjusted Weighted Average Basic Shares Outstanding	6.06M	6.14M	6.14M	6.19M	6.19M	6.19M	6.22M	6.26M	6.26M	22.24M	22.23M
Adjusted Diluted Earnings per Share	($0.33)	$0.12	($2.06)	($0.73)	($1.68)	($2.80)	($2.07)	($0.31)	($1.02)	($0.92)	($0.16)
Adjusted Weighted Average Diluted Shares Outstanding	6.06M	6.14M	6.14M	6.19M	6.19M	6.19M	6.22M	6.26M	6.26M	22.24M	22.23M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	6.06M	6.14M	6.14M	6.19M	6.19M	6.19M	6.22M	6.26M	6.26M	22.24M	22.23M
Normalized Net Operating Profit after Tax (NOPAT)	16	7.57	4.20	4.32	1.88	-0.18	0.69	6.69	2.99	4.45	5.21
Normalized NOPAT Margin	9.51%	4.86%	2.87%	2.87%	1.19%	-0.12%	0.50%	4.73%	2.15%	3.42%	4.27%
Pre Tax Income Margin	-0.27%	0.95%	-9.88%	-3.02%	-8.61%	-8.98%	-10.04%	-3.13%	-8.23%	-3.23%	1.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.02	0.99	-0.54	0.44	-0.33	-0.37	-0.50	0.50	-0.26	0.59	1.23
NOPAT to Interest Expense	0.79	0.52	-0.39	0.26	-0.28	-0.30	-0.40	0.27	-0.19	0.36	-1.10
EBIT Less CapEx to Interest Expense	0.90	1.20	-0.72	0.08	-0.57	-0.52	-0.64	0.44	-0.06	0.52	1.15
NOPAT Less CapEx to Interest Expense	0.66	0.73	-0.58	-0.09	-0.53	-0.46	-0.54	0.21	0.01	0.28	-1.18
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-10.21%	3.31%	2.16%	0.00%	0.00%	-0.54%	-0.53%	0.00%	0.00%	-4.38%	-32.45%

Financials Breakdown Chart

Key Financial Trends

Lee Enterprises’ latest quarter shows a business that is still generating meaningful revenue, but profitability and balance-sheet health remain under pressure. In Q2 2026, revenue declined year over year, operating income narrowed sharply, and the company posted a net loss. At the same time, cash on hand improved significantly from the prior quarter, helped by financing activity and a better cash balance.

Cash balance improved sharply in Q2 2026. Cash and equivalents rose to $53.3 million from $12.6 million in Q1 2026, giving Lee more liquidity near term.
Operating cash flow turned less negative versus the prior quarter. Net cash from operations was -$6.2 million in Q2 2026 versus +$4.5 million in Q1 2026, but the company still showed it can swing closer to breakeven on a quarterly basis.
Gross profit remained substantial. Q2 2026 gross profit was $75.2 million on $122.0 million of revenue, showing the core business still generates a solid gross margin.
Q2 2026 financing boosted cash. Net cash from financing activities was $46.4 million, which helped lift the cash position materially.
Revenue remains fairly consistent, but with a downward trend. Revenue was $122.0 million in Q2 2026, down from $130.1 million in Q1 2026 and below year-ago levels.
Depreciation remains a recurring non-cash add-back. Depreciation was $3.5 million in Q2 2026, which helps cash flow but also reflects ongoing asset base needs.
Share count has been relatively stable in recent quarters. Weighted average diluted shares were about 22.2 million in Q2 and Q1 2026, limiting dilution concerns in the short run.
Lee reported a net loss in Q2 2026. Net income attributable to common shareholders was -$2.1 million, or -$0.16 per share, versus a larger loss of -$5.6 million, or -$0.92 per share, in Q1 2026.
Debt remains very heavy. Long-term debt was $455.5 million in Q2 2026, far larger than cash and total equity, creating a significant leverage burden.
Balance sheet equity remains negative. Total equity and noncontrolling interests were -$3.2 million in Q2 2026, indicating liabilities still exceed assets attributable to shareholders.

Looking at the multi-quarter trend, Lee Enterprises has not returned to consistent profitability. Revenue has generally drifted lower from the 2024 levels, while operating income has been volatile and often negative after special charges and interest expense. The company has also relied on adjustments and financing to support liquidity.

The clearest concern for investors is the combination of high debt, negative equity, and continued losses. The most encouraging sign is that cash improved materially in the latest quarter and losses narrowed versus Q1 2026, but the overall financial profile still looks stretched.

07/13/26 08:38 PM ETAI Generated. May Contain Errors.

Lee Enterprises Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Lee Enterprises' fiscal year ends in September. Their fiscal year 2025 ended on September 28, 2025.

Lee Enterprises' net income appears to be on a downward trend, with a most recent value of -$35.75 million in 2025, falling from $24.32 million in 2015. The previous period was -$23.57 million in 2024.

Lee Enterprises' total operating income in 2025 was -$8.93 million, based on the following breakdown:

Total Gross Profit: $346.32 million
Total Operating Expenses: $355.25 million

Over the last 10 years, Lee Enterprises' total revenue changed from $648.54 million in 2015 to $562.34 million in 2025, a change of -13.3%.

Lee Enterprises' total liabilities were at $642.69 million at the end of 2025, a 2.1% decrease from 2024, and a 29.1% decrease since 2015.

In the past 10 years, Lee Enterprises' cash and equivalents has ranged from $5.38 million in 2018 to $33.73 million in 2020, and is currently $9.99 million as of their latest financial filing in 2025.

Over the last 10 years, Lee Enterprises' book value per share changed from -2.93 in 2015 to -6.91 in 2025, a change of 135.8%.

Related Companies

Financial statements for NYSE:LEE last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Lee Enterprises (LEE) Financials

Financials Breakdown Chart

Key Financial Trends

Lee Enterprises Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Lee Enterprises (LEE) Financials

Annual Income Statements for Lee Enterprises

Quarterly Income Statements for Lee Enterprises

Annual Cash Flow Statements for Lee Enterprises

Quarterly Cash Flow Statements for Lee Enterprises

Annual Balance Sheets for Lee Enterprises

Quarterly Balance Sheets for Lee Enterprises

Annual Metrics And Ratios for Lee Enterprises

Quarterly Metrics And Ratios for Lee Enterprises

Financials Breakdown Chart

Key Financial Trends

Lee Enterprises Financials - Frequently Asked Questions

When does Lee Enterprises' financial year end?

How has Lee Enterprises' net income changed over the last 10 years?

What is Lee Enterprises' operating income?

How has Lee Enterprises' revenue changed over the last 10 years?

How much debt does Lee Enterprises have?

How much cash does Lee Enterprises have?

How has Lee Enterprises' book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools