NYSE : EEX
Emerald Holding, Inc. — Financial statements
Communication Services · Advertising Agencies · United States
Last price 5.04 USD (Jul 14, 2026, 3:14 PM EDT) · Market cap 997.46M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Emerald Holding, Inc. (EEX) reported revenue of 471.10M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 471.10M | 463.40M | 398.80M | 382.80M | 325.90M | 145.50M |
| Cost of Revenue | 171.90M | 167.40M | 145.60M | 135.80M | 115.20M | 55.90M |
| Gross Profit | 299.20M | 296.00M | 253.20M | 247.00M | 210.70M | 89.60M |
| Selling, General & Admin | 184.60M | 180.20M | 158.10M | 159.10M | 160.50M | 134.70M |
| Operating Expenses | 217.30M | 211.20M | 186.40M | 204.10M | 220.00M | 182.30M |
| Operating Income | 81.90M | 84.80M | 66.80M | 42.90M | -9.30M | -92.70M |
| Interest Expense | -40.80M | -48.80M | -47.80M | -43.30M | -24.50M | -15.90M |
| Interest & Investment Income | 2.60M | 4.60M | 8.50M | 8.20M | 2.70M | 100.00K |
| Other Non Operating Income (Expenses) | 100.00K | 100.00K | -100.00K | |||
| EBT Excluding Unusual Items | 43.80M | 40.70M | 27.50M | 7.80M | -31.10M | -108.60M |
| Merger & Restructuring Charges | -11.10M | -12.50M | -11.70M | -8.70M | -9.70M | -4.50M |
| Impairment of Goodwill | -6.30M | -7.20M | ||||
| Gain (Loss) on Sale of Assets | -200.00K | -400.00K | ||||
| Asset Writedown | -7.30M | -1.60M | -32.70M | |||
| Legal Settlements | -7.90M | -1.00M | ||||
| Other Unusual Items | -64.60M | -49.80M | -2.50M | -4.60M | 31.80M | -4.00M |
| Pretax Income | -31.90M | -21.60M | 7.50M | -2.90M | 158.00M | -81.00M |
| Income Tax Expense | 6.90M | 9.10M | 5.30M | 5.30M | 27.20M | -1.30M |
| Net Income | -38.80M | -30.70M | 2.20M | -8.20M | 130.80M | -79.70M |
| Preferred Dividends & Other Adjustments | 12.70M | 42.00M | 99.00M | 35.60M | ||
| Net Income to Common | -38.80M | -30.70M | -10.50M | -50.20M | 31.80M | -115.30M |
| Shares Outstanding (Basic) | 198.03M | 198.73M | 156.59M | 63.96M | 69.00M | 71.31M |
| Shares Outstanding (Diluted) | 198.03M | 198.73M | 156.59M | 63.96M | 69.15M | 71.31M |
| EPS (Basic) | -0.20 | -0.15 | -0.07 | -0.78 | 0.46 | -1.62 |
| EPS (Diluted) | -0.20 | -0.15 | -0.07 | -0.78 | 0.46 | -1.62 |
| Free Cash Flow | 57.50M | 41.40M | 45.50M | 39.70M | 173.30M | 88.50M |
| Free Cash Flow Per Share | 0.29 | 0.21 | 0.29 | 0.62 | 2.51 | 1.24 |
| Dividend Per Share | 0.06 | 0.06 | 0.03 | |||
| Gross Margin | 63.51% | 63.88% | 63.49% | 64.53% | 64.65% | 61.58% |
| Operating Margin | 17.39% | 18.30% | 16.75% | 11.21% | -2.85% | -63.71% |
| Profit Margin | -8.24% | -6.62% | -2.63% | -13.11% | 9.76% | -79.24% |
| Free Cash Flow Margin | 12.21% | 8.93% | 11.41% | 10.37% | 53.18% | 60.82% |
| EBITDA | 114.60M | 115.80M | 95.10M | 87.90M | 50.20M | -45.10M |
| EBITDA Margin | 24.33% | 24.99% | 23.85% | 22.96% | 15.40% | -31.00% |
| D&A For EBITDA | 32.70M | 31.00M | 28.30M | 45.00M | 59.50M | 47.60M |
| EBIT | 81.90M | 84.80M | 66.80M | 42.90M | -9.30M | -92.70M |
| EBIT Margin | 17.39% | 18.30% | 16.75% | 11.21% | -2.85% | -63.71% |
| Effective Tax Rate | 70.67% | 17.21% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 121.10M | 100.90M | 194.80M | 204.20M | 239.10M | 231.20M |
| Cash & Short-Term Investments | 121.10M | 100.90M | 194.80M | 204.20M | 239.10M | 231.20M |
| Accounts Receivable | 130.00M | 99.00M | 82.50M | 85.20M | 74.90M | 46.40M |
| Receivables | 130.00M | 99.00M | 82.50M | 85.20M | 74.90M | 46.40M |
| Prepaid Expenses | 26.10M | 35.40M | 29.60M | 21.50M | 17.80M | 12.50M |
| Total Current Assets | 277.20M | 235.30M | 306.90M | 310.90M | 331.80M | 290.10M |
| Property, Plant & Equipment | 6.40M | 6.40M | 10.30M | 12.80M | 18.80M | |
| Goodwill | 780.30M | 783.60M | 573.80M | 553.90M | 545.50M | 514.20M |
| Other Intangible Assets | 174.70M | 181.40M | 155.90M | 175.10M | 204.80M | 236.70M |
| Other Long-Term Assets | 11.40M | 6.10M | 5.70M | 3.70M | 3.50M | 2.60M |
| Total Assets | 1.24B | 1.21B | 1.05B | 1.05B | 1.10B | 1.06B |
| Accounts Payable | 53.50M | 15.70M | 17.30M | 24.10M | 20.40M | 12.00M |
| Accrued Expenses | 18.50M | 12.10M | 13.20M | 23.00M | 25.50M | |
| Current Portion of Long-Term Debt | 5.20M | 5.20M | 4.20M | 4.20M | 5.70M | |
| Current Portion of Leases | 5.10M | 5.30M | 4.00M | 4.00M | 4.90M | 4.70M |
| Current Income Taxes Payable | 3.50M | 2.10M | 200.00K | 1.20M | ||
| Current Unearned Revenue | 224.30M | 219.20M | 190.50M | 174.30M | 151.20M | 118.10M |
| Other Current Liabilities | 12.40M | 22.70M | 13.20M | 10.10M | 21.50M | 25.70M |
| Total Current Liabilities | 304.00M | 288.70M | 241.30M | 230.10M | 222.20M | 191.70M |
| Long-Term Debt | 497.50M | 498.60M | 398.50M | 398.70M | 413.90M | 510.90M |
| Long-Term Leases | 3.20M | 5.50M | 8.90M | 10.40M | 13.30M | |
| Long-Term Unearned Revenue | 1.40M | 200.00K | 900.00K | 1.40M | 200.00K | |
| Long-Term Deferred Tax Liabilities | 17.50M | 17.60M | 4.90M | 3.10M | 1.80M | 1.50M |
| Other Long-Term Liabilities | 84.80M | 65.90M | 12.40M | 7.60M | 9.40M | 31.90M |
| Total Liabilities | 905.20M | 874.00M | 662.80M | 649.30M | 659.10M | 749.50M |
| Common Stock | 2.00M | 2.00M | 2.00M | 600.00K | 700.00K | 700.00K |
| Additional Paid-In Capital | 1.01B | 1.02B | 1.03B | 559.20M | 610.30M | 653.20M |
| Retained Earnings | -673.60M | -680.80M | -650.10M | -652.30M | -644.10M | -774.90M |
| Comprehensive Income & Other | -1.90M | 1.20M | ||||
| Total Common Equity | 338.40M | 338.80M | 385.90M | -92.50M | -33.10M | -121.00M |
| Shareholders' Equity | 338.40M | 338.80M | 385.90M | 404.60M | 439.30M | 312.90M |
| Total Liabilities & Equity | 1.24B | 1.21B | 1.05B | 1.05B | 1.10B | 1.06B |
| Total Debt | 507.80M | 512.30M | 412.20M | 415.80M | 429.20M | 534.60M |
| Net Cash (Debt) | -386.70M | -411.40M | -217.40M | -211.60M | -190.10M | -303.40M |
| Net Cash Per Share | -1.95 | -2.07 | -1.39 | -3.31 | -2.75 | -4.25 |
| Filing Date Shares Outstanding | 197.91M | 197.91M | 200.05M | 63.03M | 67.88M | 70.35M |
| Total Common Shares Outstanding | 197.91M | 197.70M | 201.45M | 62.91M | 67.59M | 70.03M |
| Working Capital | -26.80M | -53.40M | 65.60M | 80.80M | 109.60M | 98.40M |
| Book Value Per Share | 1.71 | 1.71 | 1.92 | -1.47 | -0.49 | -1.73 |
| Tangible Book Value | -616.60M | -626.20M | -343.80M | -821.50M | -783.40M | -871.90M |
| Tangible Book Value Per Share | -3.12 | -3.17 | -1.71 | -13.06 | -11.59 | -12.45 |
| Machinery | 5.20M | 4.80M | 6.50M | |||
| Leasehold Improvements | 1.00M | 1.00M | 3.10M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -38.80M | -30.70M | 2.20M | -8.20M | 130.80M | -79.70M |
| Depreciation & Amortization | 32.70M | 31.00M | 28.30M | 45.00M | 59.50M | 47.60M |
| Other Amortization | 1.00M | 1.40M | 4.30M | 3.00M | 1.70M | 1.50M |
| Loss (Gain) From Sale of Assets | 100.00K | 1.10M | 500.00K | |||
| Asset Writedown & Restructuring Costs | 7.30M | 7.90M | 39.90M | |||
| Stock-Based Compensation | 11.60M | 11.30M | 5.80M | 7.80M | 5.80M | 10.40M |
| Provision & Write-off of Bad Debts | 2.80M | 2.80M | 500.00K | 300.00K | 400.00K | 400.00K |
| Other Operating Activities | 68.80M | 52.70M | 3.00M | 3.90M | -26.60M | 4.90M |
| Change in Accounts Receivable | 8.70M | 5.70M | 4.50M | -8.60M | -24.90M | -15.60M |
| Change in Accounts Payable | -11.60M | -2.40M | -7.20M | -11.70M | 6.20M | 20.80M |
| Change in Unearned Revenue | -9.30M | -30.10M | 8.70M | 19.50M | 29.90M | 67.50M |
| Change in Income Taxes | -6.00M | -400.00K | -2.50M | -2.70M | 1.40M | 200.00K |
| Change in Other Net Operating Assets | -1.20M | 1.30M | -8.20M | -9.10M | -17.00M | -8.40M |
| Operating Cash Flow | 58.70M | 42.60M | 46.80M | 40.30M | 175.10M | 90.00M |
| Capital Expenditures | -1.20M | -1.20M | -1.30M | -600.00K | -1.80M | -1.50M |
| Cash Acquisitions | -175.30M | -194.90M | -16.20M | -9.50M | -37.60M | -125.30M |
| Sale (Purchase) of Intangibles | -7.10M | -7.10M | -8.50M | -10.90M | -8.50M | -5.10M |
| Other Investing Activities | 1.00M | |||||
| Investing Cash Flow | -183.60M | -203.20M | -25.00M | -21.00M | -47.90M | -131.90M |
| Long-Term Debt Issued | 275.40M | 239.40M | ||||
| Total Debt Issued | 275.40M | 239.40M | ||||
| Long-Term Debt Repaid | -172.10M | -4.20M | -241.50M | -104.20M | -5.70M | |
| Total Debt Repaid | -3.90M | -172.10M | -4.20M | -241.50M | -104.20M | -5.70M |
| Net Debt Issued (Repaid) | -3.90M | 103.30M | -4.20M | -2.10M | -104.20M | -5.70M |
| Issuance of Common Stock | 400.00K | 500.00K | 1.50M | 200.00K | 100.00K | 100.00K |
| Repurchase of Common Stock | -8.70M | -17.50M | -13.80M | -16.90M | -10.40M | -12.40M |
| Preferred Dividends Paid | -8.60M | -17.20M | ||||
| Common Dividends Paid | -8.90M | -11.90M | -6.10M | |||
| Dividends Paid | -8.90M | -11.90M | -14.70M | -17.20M | ||
| Other Financing Activities | -8.40M | -7.30M | -18.20M | -4.80M | -4.20M | |
| Financing Cash Flow | -29.50M | 67.10M | -31.20M | -54.20M | -119.30M | -22.20M |
| Foreign Exchange Rate Adjustments | -1.30M | -400.00K | ||||
| Net Cash Flow | -155.70M | -93.90M | -9.40M | -34.90M | 7.90M | -64.10M |
| Free Cash Flow | 57.50M | 41.40M | 45.50M | 39.70M | 173.30M | 88.50M |
| Free Cash Flow Margin | 12.21% | 8.93% | 11.41% | 10.37% | 53.18% | 60.82% |
| Free Cash Flow Per Share | 0.29 | 0.21 | 0.29 | 0.62 | 2.51 | 1.24 |
| Levered Free Cash Flow | 84.99M | 80.70M | 46.27M | 34.65M | 37.77M | 58.83M |
| Unlevered Free Cash Flow | 109.49M | 109.80M | 71.85M | 58.71M | 51.39M | 67.26M |
| Cash Interest Paid | 40.90M | 40.90M | 43.80M | 38.10M | 22.50M | 13.80M |
| Cash Income Tax Paid | 5.00M | 5.00M | 4.60M | 6.90M | 25.60M | 200.00K |
| Change in Working Capital | -19.40M | -25.90M | -4.70M | -12.60M | -4.40M | 64.50M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 997.46M | 884.20M | 978.39M | 376.10M | 239.34M | 278.43M |
| Enterprise Value | 1.38B | 1.30B | 1.20B | 1.09B | 865.34M | 935.63M |
| Last Close Price | 5.04 | 4.44 | 4.72 | 5.82 | 3.45 | 3.87 |
| PE Ratio | 7.53 | |||||
| Forward PE | 21.00 | 27.09 | 45.91 | 21.86 | 12.41 | 12.41 |
| PS Ratio | 2.12 | 1.91 | 2.45 | 0.98 | 0.73 | 1.91 |
| PB Ratio | 2.95 | 2.61 | 2.54 | 0.93 | 0.55 | 0.89 |
| P/FCF Ratio | 17.35 | 21.36 | 21.50 | 9.47 | 1.38 | 3.15 |
| P/OCF Ratio | 16.99 | 20.76 | 20.91 | 9.33 | 1.37 | 3.09 |
| PEG Ratio | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | |
| EV/Sales Ratio | 2.94 | 2.81 | 3.02 | 2.84 | 2.65 | 6.43 |
| EV/EBITDA Ratio | 12.08 | 11.26 | 12.64 | 12.38 | 17.24 | |
| EV/EBIT Ratio | 16.90 | 15.37 | 18.00 | 25.36 | ||
| EV/FCF Ratio | 24.07 | 31.48 | 26.43 | 27.40 | 4.99 | 10.57 |
| Debt / Equity Ratio | 1.50 | 1.51 | 1.07 | 1.03 | 0.98 | 1.71 |
| Debt / EBITDA Ratio | 4.28 | 4.28 | 4.19 | 4.51 | 7.44 | |
| Debt / FCF Ratio | 8.83 | 12.37 | 9.06 | 10.47 | 2.48 | 6.04 |
| Net Debt / Equity Ratio | 1.14 | 1.21 | 0.56 | 0.52 | 0.43 | 0.97 |
| Net Debt / EBITDA Ratio | 3.37 | 3.55 | 2.29 | 2.41 | 3.79 | -6.73 |
| Net Debt / FCF Ratio | 6.72 | 9.94 | 4.78 | 5.33 | 1.10 | 3.43 |
| Asset Turnover | 0.39 | 0.41 | 0.38 | 0.36 | 0.30 | 0.14 |
| Quick Ratio | 0.83 | 0.69 | 1.15 | 1.26 | 1.41 | 1.45 |
| Current Ratio | 0.91 | 0.81 | 1.27 | 1.35 | 1.49 | 1.51 |
| Return on Equity (ROE) | -10.62% | -8.47% | 0.56% | -1.94% | 34.78% | -22.53% |
| Return on Assets (ROA) | 4.22% | 4.69% | 3.97% | 2.49% | -0.54% | -5.47% |
| Return on Invested Capital (ROIC) | 11.10% | 12.53% | 3.21% | 6.89% | -1.24% | -14.78% |
| Return on Capital Employed (ROCE) | 8.70% | 9.20% | 8.30% | 5.20% | -1.10% | -10.60% |
| Earnings Yield | -3.89% | -3.47% | 0.22% | -2.18% | 54.65% | -28.62% |
| FCF Yield | 5.76% | 4.68% | 4.65% | 10.56% | 72.41% | 31.79% |
| Dividend Yield | 1.19% | 1.35% | 0.64% | |||
| Payout Ratio | 668.18% | |||||
| Buyback Yield / Dilution | -3.69% | -26.91% | -144.83% | 7.50% | 3.03% | 0.17% |
| Total Shareholder Return | -2.50% | -25.56% | -144.20% | 7.50% | 3.03% | 0.17% |