NASDAQ : LAMR
Lamar Advertising Company — Financial statements
Real Estate · REIT - Specialty · United States
Last price 157.53 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 16.00B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 2.33B | 2.27B | 2.21B | 2.11B | 2.03B | 1.79B |
| Other Revenue | 206.00K | 5.09M | 3.70M | 4.32M | 3.38M | |
| Total Revenue | 2.33B | 2.27B | 2.21B | 2.11B | 2.04B | 1.79B |
| Property Expenses | 757.62M | 746.86M | 727.88M | 696.80M | 667.29M | 576.51M |
| Selling, General & Administrative | 509.92M | 494.91M | 490.28M | 450.81M | 453.12M | 420.53M |
| Depreciation & Amortization | 336.79M | 326.33M | 462.97M | 293.42M | 349.45M | 271.29M |
| Total Operating Expenses | 1.60B | 1.57B | 1.68B | 1.44B | 1.47B | 1.27B |
| Operating Income | 721.90M | 698.32M | 531.08M | 673.66M | 566.60M | 522.46M |
| Interest Expense | -163.05M | -160.44M | -171.71M | -174.51M | -127.51M | -106.38M |
| Interest & Investment Income | 2.39M | 2.58M | 2.31M | 2.12M | 1.29M | 763.00K |
| EBT Excluding Unusual Items | 561.24M | 540.47M | 361.68M | 501.26M | 440.38M | 416.83M |
| Gain (Loss) on Sale of Assets | 17.27M | 75.94M | 6.06M | 5.47M | 15.72M | 2.12M |
| Other Unusual Items | -2.01M | -2.01M | -270.00K | -115.00K | -21.60M | |
| Pretax Income | 576.50M | 614.39M | 367.47M | 506.62M | 456.10M | 397.35M |
| Income Tax Expense | 11.19M | 21.33M | 4.53M | 9.78M | 17.45M | 9.26M |
| Earnings From Continuing Operations | 565.31M | 593.07M | 362.94M | 496.84M | 438.65M | 388.09M |
| Minority Interest in Earnings | -9.23M | -5.92M | -1.07M | -1.07M | ||
| Net Income | 556.08M | 587.15M | 361.87M | 495.76M | 438.65M | 388.09M |
| Preferred Dividends & Other Adjustments | 365.00K | 365.00K | 365.00K | 365.00K | 365.00K | 365.00K |
| Net Income to Common | 555.71M | 586.79M | 361.50M | 495.40M | 438.28M | 387.73M |
| Basic Shares Outstanding | 101.35M | 101.55M | 102.26M | 101.92M | 101.53M | 101.13M |
| Diluted Shares Outstanding | 101.35M | 101.63M | 102.56M | 102.11M | 101.63M | 101.35M |
| EPS (Basic) | 5.48 | 5.78 | 3.54 | 4.86 | 4.32 | 3.83 |
| EPS (Diluted) | 5.48 | 5.77 | 3.52 | 4.85 | 4.31 | 3.83 |
| Dividend Per Share | 6.30 | 6.20 | 5.40 | 5.00 | 4.70 | 3.50 |
| Operating Margin | 31.03% | 30.81% | 24.01% | 31.86% | 27.82% | 29.18% |
| Profit Margin | 23.89% | 25.89% | 16.34% | 23.43% | 21.52% | 21.65% |
| EBITDA | 1.06B | 1.02B | 994.04M | 967.08M | 916.04M | 793.75M |
| EBITDA Margin | 45.51% | 45.21% | 44.94% | 45.73% | 44.98% | 44.32% |
| D&A For Ebitda | 336.79M | 326.33M | 462.97M | 293.42M | 349.45M | 271.29M |
| EBIT | 721.90M | 698.32M | 531.08M | 673.66M | 566.60M | 522.46M |
| EBIT Margin | 31.03% | 30.81% | 24.01% | 31.86% | 27.82% | 29.18% |
| Funds From Operations (FFO) | 850.40M | 827.33M | 798.42M | 767.89M | 756.99M | 643.40M |
| FFO Per Share | 8.26 | 8.07 | 7.78 | 7.52 | 7.45 | |
| Adjusted Funds From Operations (AFFO) | 882.55M | 846.68M | 818.99M | 762.27M | 749.73M | 667.74M |
| AFFO Per Share | 8.60 | 8.26 | 7.99 | 7.47 | 7.38 | |
| FFO Payout Ratio | 78.22% | 79.27% | 72.50% | 66.45% | 67.14% | 55.05% |
| Effective Tax Rate | 1.94% | 3.47% | 1.23% | 1.93% | 3.83% | 2.33% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 3.20B | 3.19B | 2.96B | 2.89B | 2.79B | 2.58B |
| Cash & Equivalents | 67.95M | 64.81M | 49.46M | 44.60M | 52.62M | 99.79M |
| Accounts Receivable | 377.54M | 341.22M | 334.80M | 301.19M | 285.04M | 269.92M |
| Other Receivables | 1.33M | 2.10M | ||||
| Goodwill | 2.11B | 2.11B | 2.04B | 2.04B | 2.04B | 1.94B |
| Other Intangible Assets | 1.12B | 1.11B | 1.06B | 1.17B | 1.21B | 1.05B |
| Other Current Assets | 48.22M | 52.36M | 38.91M | 27.39M | 26.89M | 18.90M |
| Other Long-Term Assets | 63.23M | 58.60M | 99.23M | 90.64M | 83.40M | 98.45M |
| Total Assets | 6.99B | 6.93B | 6.59B | 6.56B | 6.48B | 6.05B |
| Current Portion of Long-Term Debt | 250.16M | 250.04M | 249.81M | 250.02M | 249.78M | 174.78M |
| Current Portion of Leases | 206.61M | 233.79M | 219.44M | 211.90M | 207.17M | 199.62M |
| Long-Term Debt | 3.26B | 3.17B | 2.96B | 3.09B | 3.06B | 2.84B |
| Long-Term Leases | 1.26B | 1.27B | 1.13B | 1.09B | 1.05B | 1.01B |
| Accounts Payable | 16.87M | 16.47M | 21.59M | 18.24M | 19.64M | 16.43M |
| Accrued Expenses | 122.15M | 138.68M | 133.94M | 107.19M | 117.59M | 135.04M |
| Current Unearned Revenue | 191.33M | 155.07M | 153.70M | 126.55M | 131.85M | 137.10M |
| Long-Term Deferred Tax Liabilities | 2.00M | 749.00K | 8.01M | 12.05M | 9.65M | 6.42M |
| Other Long-Term Liabilities | 685.29M | 677.49M | 663.30M | 439.88M | 429.53M | 309.57M |
| Total Liabilities | 6.00B | 5.91B | 5.54B | 5.35B | 5.28B | 4.83B |
| Common Stock | 104.00K | 103.00K | 103.00K | 102.00K | 102.00K | 102.00K |
| Additional Paid-In Capital | 2.39B | 2.35B | 2.16B | 2.10B | 2.06B | 2.00B |
| Retained Earnings | -1.17B | -1.11B | -1.04B | -819.24M | -804.38M | -734.41M |
| Treasury Stock | -236.69M | -230.61M | -72.69M | -67.35M | -61.36M | -50.85M |
| Comprehensive Income & Other | -3.66M | -2.80M | -2.95M | -428.00K | -659.00K | 855.00K |
| Total Common Equity | 982.11M | 1.01B | 1.05B | 1.22B | 1.20B | 1.22B |
| Minority Interest | 13.36M | 13.19M | 849.00K | 414.00K | ||
| Shareholders' Equity | 995.47M | 1.02B | 1.05B | 1.22B | 1.20B | 1.22B |
| Total Liabilities & Equity | 6.99B | 6.93B | 6.59B | 6.56B | 6.48B | 6.05B |
| Total Debt | 4.98B | 4.92B | 4.56B | 4.64B | 4.57B | 4.23B |
| Net Cash (Debt) | -4.91B | -4.85B | -4.51B | -4.60B | -4.52B | -4.13B |
| Net Cash Per Share | -48.45 | -47.76 | -43.96 | -45.03 | -44.46 | -40.71 |
| Filing Date Shares Outstanding | 101.55M | 101.33M | 102.40M | 102.07M | 101.75M | 101.27M |
| Total Common Shares Outstanding | 101.55M | 101.33M | 102.40M | 102.07M | 101.75M | 101.27M |
| Book Value Per Share | 9.67 | 9.98 | 10.23 | 11.92 | 11.75 | 12.02 |
| Tangible Book Value | -2.25B | -2.21B | -2.05B | -1.99B | -2.05B | -1.76B |
| Tangible Book Value Per Share | -22.14 | -21.84 | -20.03 | -19.50 | -20.11 | -17.42 |
| Land | 529.47M | 490.37M | 482.42M | 459.37M | 428.85M | |
| Buildings | 258.60M | 247.23M | 235.86M | 220.47M | 206.87M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 556.08M | 587.15M | 361.87M | 495.76M | 438.65M | 388.09M |
| Depreciation & Amortization | 336.79M | 326.33M | 462.97M | 293.42M | 349.45M | 271.29M |
| Other Amortization | 6.61M | 6.28M | 6.33M | 6.54M | 6.16M | 5.88M |
| Gain (Loss) on Sale of Assets | -17.27M | -75.94M | -6.06M | -5.47M | -15.72M | -2.12M |
| Stock-Based Compensation | 41.50M | 33.96M | 44.52M | 22.65M | 23.14M | 37.37M |
| Income (Loss) on Equity Investments | -206.00K | -5.09M | -3.70M | -4.32M | -3.38M | |
| Change in Accounts Receivable | -42.70M | -15.51M | -43.00M | -28.74M | -22.51M | -24.68M |
| Change in Accounts Payable | -2.02M | -773.00K | 3.26M | -307.00K | 1.18M | 1.31M |
| Change in Other Net Operating Assets | 3.20M | -6.96M | 42.73M | -12.85M | -6.63M | 32.96M |
| Other Operating Activities | 13.50M | 305.00K | -2.69M | 3.57M | 3.21M | 23.18M |
| Operating Cash Flow | 906.62M | 864.05M | 873.61M | 783.61M | 781.61M | 734.42M |
| Acquisition of Real Estate Assets | -166.28M | -161.91M | -113.91M | -166.23M | -167.08M | -126.09M |
| Sale of Real Estate Assets | 21.04M | 127.18M | 5.71M | 7.05M | 15.65M | 6.48M |
| Net Sale / Acq. of Real Estate Assets | -145.24M | -34.74M | -108.21M | -159.18M | -151.43M | -119.61M |
| Cash Acquisition | -205.93M | -191.08M | -45.39M | -138.96M | -479.77M | -312.26M |
| Investment in Marketable & Equity Securities | -30.00M | |||||
| Other Investing Activities | 69.00K | 69.00K | 65.00K | 62.00K | 12.12M | 107.00K |
| Investing Cash Flow | -373.40M | -244.63M | -164.91M | -310.12M | -619.07M | -461.76M |
| Short-Term Debt Issued | 174.40M | 86.40M | 114.90M | |||
| Long-Term Debt Issued | 1.54B | 783.00M | 403.00M | 1.06B | 930.00M | |
| Total Debt Issued | 1.55B | 1.71B | 869.40M | 517.90M | 1.06B | 930.00M |
| Short-Term Debt Repaid | -174.40M | -86.40M | -114.90M | |||
| Long-Term Debt Repaid | -1.33B | -920.73M | -379.71M | -766.70M | -822.90M | |
| Total Debt Repaid | -1.40B | -1.50B | -1.01B | -494.61M | -766.70M | -822.90M |
| Net Debt Issued (Repaid) | 152.46M | 212.50M | -137.73M | 23.29M | 293.30M | 107.10M |
| Issuance of Common Stock | 22.19M | 17.69M | 20.98M | 15.69M | 18.89M | 19.04M |
| Repurchase of Common Stock | -6.08M | -157.92M | -5.34M | -5.99M | -10.51M | -6.07M |
| Common Dividends Paid | -665.15M | -655.86M | -578.85M | -510.25M | -508.25M | -404.81M |
| Preferred Dividends Paid | -365.00K | -365.00K | -365.00K | -365.00K | -365.00K | -365.00K |
| Total Dividends Paid | -665.51M | -656.22M | -579.21M | -510.62M | -508.61M | -405.17M |
| Other Financing Activities | -23.88M | -20.36M | -2.12M | -4.01M | -2.40M | -9.42M |
| Foreign Exchange Rate Adjustments | -174.00K | 252.00K | -423.00K | 127.00K | -391.00K | 81.00K |
| Net Cash Flow | 12.22M | 15.35M | 4.86M | -8.01M | -47.17M | -21.78M |
| Levered Free Cash Flow | 558.69M | 537.70M | 645.27M | 454.69M | 443.49M | 478.58M |
| Unlevered Free Cash Flow | 653.99M | 631.69M | 746.25M | 557.22M | 517.03M | 539.19M |
| Cash Interest Paid | 153.08M | 148.33M | 165.83M | 168.01M | 120.00M | 112.08M |
| Cash Income Tax Paid | 20.25M | 29.10M | 8.51M | 11.43M | 16.32M | 8.39M |
| Change in Working Capital | -41.52M | -23.25M | 2.99M | -41.90M | -27.97M | 9.58M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.91B | 12.82B | 12.46B | 10.84B | 9.60B | 12.28B |
| Enterprise Value | 20.82B | 17.60B | 16.98B | 15.48B | 13.94B | 16.20B |
| Last Close Price | 157.53 | 122.38 | 111.53 | 92.96 | 78.41 | 95.67 |
| Price/FFO Ratio | 18.68 | 15.17 | 14.33 | 12.36 | 10.53 | |
| Price/AFFO Ratio | 17.94 | 14.82 | 13.96 | 12.45 | 10.62 | |
| PE Ratio | 28.62 | 21.85 | 34.47 | 21.88 | 21.90 | 31.67 |
| PS Ratio | 6.88 | 5.66 | 5.63 | 5.13 | 4.71 | 6.86 |
| PB Ratio | 16.29 | 12.51 | 11.89 | 8.91 | 8.03 | 10.09 |
| P/OCF Ratio | 17.64 | 14.84 | 14.26 | 13.83 | 12.28 | 16.72 |
| EV/Sales Ratio | 8.99 | 7.76 | 7.67 | 7.32 | 6.85 | 9.05 |
| EV/EBITDA Ratio | 19.75 | 17.18 | 17.08 | 16.01 | 15.22 | 20.41 |
| EV/EBIT Ratio | 28.96 | 25.20 | 31.96 | 22.98 | 24.61 | 31.01 |
| Debt / Equity Ratio | 5.00 | 4.80 | 4.35 | 3.82 | 3.82 | 3.47 |
| Debt / EBITDA Ratio | 3.36 | 3.43 | 3.28 | 3.44 | 3.54 | 3.70 |
| Net Debt / Equity Ratio | 4.93 | 4.74 | 4.30 | 3.78 | 3.78 | 3.39 |
| Net Debt / EBITDA Ratio | 4.64 | 4.74 | 4.54 | 4.75 | 4.93 | 5.20 |
| Asset Turnover | 0.34 | 0.34 | 0.34 | 0.32 | 0.33 | 0.30 |
| Quick Ratio | 0.57 | 0.51 | 0.50 | 0.48 | 0.47 | 0.56 |
| Current Ratio | 0.63 | 0.58 | 0.55 | 0.52 | 0.50 | 0.59 |
| Return on Equity (ROE) | 59.43% | 57.22% | 32.05% | 41.19% | 36.36% | 32.07% |
| Return on Assets (ROA) | 6.60% | 6.46% | 5.05% | 6.46% | 5.66% | 5.52% |
| Return on Invested Capital (ROIC) | 11.89% | 11.67% | 9.15% | 11.36% | 9.72% | 9.50% |
| Earnings Yield | 3.49% | 4.58% | 2.90% | 4.57% | 4.57% | 3.16% |
| Dividend Yield | 4.23% | 4.90% | 4.44% | 4.71% | 4.98% | 2.89% |
| Payout Ratio | 121.44% | 111.76% | 160.06% | 103.00% | 115.95% | 104.40% |
| Buyback Yield / Dilution | 1.05% | 0.90% | -0.45% | -0.46% | -0.28% | -0.44% |
| Total Shareholder Return | 5.27% | 5.80% | 3.99% | 4.24% | 4.70% | 2.44% |