Emerald Holding, Inc. (EEX) 10-Year Financial Performance & Capital Metrics

EEX • • Industrial / General

Communication ServicesAdvertising & MarketingPromotional & Event MarketingEvent Management & Production

AboutEmerald Holding, Inc. operates business-to-business (B2B) trade shows in the United States. The company operates trade shows in various industry sectors, including retail, design and construction, technology, equipment, and safety and security. It also operates content and content-marketing websites, and related digital products, as well as produce publications. In addition, the company operates Elastic Suite platform that streamlines the wholesale buying process for brands and retail buyers; and Flex platform. Emerald Expositions Events, Inc. was incorporated in 2013 and is based in New York, New York.Show more

Revenue $399M +4.2%
EBITDA $92M +35.2%
Net Income $2M +126.8%
EPS (Diluted) -0.07 +91.5%
Gross Margin 55.92% +6.9%
EBITDA Margin 23.09% +29.8%
Operating Margin 16% +165.1%
Net Margin 0.55% +125.8%
ROE 0.56% +112.6%
ROIC 7.85% +75.1%
Debt/Equity 1.07 +3.9%
Interest Coverage 1.33 +150.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Shares diluted 100.0% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y2.02%

3Y39.95%

TTM11.18%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM121.9%

EPS CAGR

10Y-

5Y-

3Y-

TTM104%

ROCE

10Y Avg2.64%

5Y Avg-1.81%

3Y Avg3.17%

Latest7.82%

Peer Comparison

Event Management & Production

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TDICDreamland Limited Class A Ordinary Shares	6.59M	0.18	0.87	124.08%	14.03%	112.46%		1.62
CPOPPop Culture Group Co., Ltd	34.18M	0.48	-0.11	155.52%	-30.56%	-102.2%		0.41
FTRKFast Track Group	16.62M	0.76	-29.42	-21.49%	-31.94%		2.56%
EEXEmerald Holding, Inc.	947.5M	4.79	-71.49	4.18%	1.05%	1.24%	4.8%	1.07

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	306.4M	323.75M	341.7M	380.7M	360.9M	127.4M	145.5M	325.9M	382.8M	398.8M
Revenue Growth %	-	0.06%	0.06%	0.11%	-0.05%	-0.65%	0.14%	1.24%	0.17%	0.04%
Cost of Goods Sold+	122.52M	124.42M	138.2M	158.9M	172.2M	106.2M	104.7M	176M	182.6M	175.8M
COGS % of Revenue	0.4%	0.38%	0.4%	0.42%	0.48%	0.83%	0.72%	0.54%	0.48%	0.44%
Gross Profit+	183.89M	199.33M	203.5M	221.8M	188.7M	21.2M	40.8M	149.9M	200.2M	223M
Gross Margin %	0.6%	0.62%	0.6%	0.58%	0.52%	0.17%	0.28%	0.46%	0.52%	0.56%
Gross Profit Growth %	-	0.08%	0.02%	0.09%	-0.15%	-0.89%	0.92%	2.67%	0.34%	0.11%
Operating Expenses+	87.95M	91.19M	98.4M	112.6M	127M	111.6M	133.6M	159M	177.1M	159.2M
OpEx % of Revenue	0.29%	0.28%	0.29%	0.3%	0.35%	0.88%	0.92%	0.49%	0.46%	0.4%
Selling, General & Admin	87.95M	91.19M	98.4M	112.6M	127M	111.6M	133.6M	159M	177.1M	159.2M
SG&A % of Revenue	0.29%	0.28%	0.29%	0.3%	0.35%	0.88%	0.92%	0.49%	0.46%	0.4%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	95.94M	108.14M	105.1M	109.2M	61.7M	-90.4M	-92.8M	-9.1M	23.1M	63.8M
Operating Margin %	0.31%	0.33%	0.31%	0.29%	0.17%	-0.71%	-0.64%	-0.03%	0.06%	0.16%
Operating Income Growth %	-	0.13%	-0.03%	0.04%	-0.43%	-2.47%	-0.03%	0.9%	3.54%	1.76%
EBITDA+	135.01M	148.19M	148.3M	156M	113.7M	-38.5M	-41.9M	53.8M	68.1M	92.1M
EBITDA Margin %	0.44%	0.46%	0.43%	0.41%	0.32%	-0.3%	-0.29%	0.17%	0.18%	0.23%
EBITDA Growth %	-	0.1%	0%	0.05%	-0.27%	-1.34%	-0.09%	2.28%	0.27%	0.35%
D&A (Non-Cash Add-back)	39.07M	40.05M	43.2M	46.8M	52M	51.9M	50.9M	62.9M	45M	28.3M
EBIT	80.39M	86.86M	85.1M	-4M	-24.7M	-670.6M	-65.1M	182.5M	40.4M	55.3M
Net Interest Income+	-50.5M	-50.6M	-38.3M	-29.4M	-30.3M	-20.5M	-15.8M	-21.8M	-35.1M	-39.3M
Interest Income	0	0	0	0	0	100K	100K	2.7M	8.2M	8.5M
Interest Expense	50.5M	50.63M	38.3M	29.4M	30.3M	20.6M	15.9M	24.5M	43.3M	47.8M
Other Income/Expense	-65.98M	-71.88M	-58.3M	-142.6M	-116.7M	-600.8M	11.8M	167.1M	-26M	-56.3M
Pretax Income+	29.95M	36.26M	46.8M	-33.4M	-55M	-691.2M	-81M	158M	-2.9M	7.5M
Pretax Margin %	0.1%	0.11%	0.14%	-0.09%	-0.15%	-5.43%	-0.56%	0.48%	-0.01%	0.02%
Income Tax+	10.33M	14.1M	-35M	-8.3M	-5M	-57.6M	-1.3M	27.2M	5.3M	5.3M
Effective Tax Rate %	0.66%	0.61%	1.75%	0.75%	0.91%	0.92%	0.98%	0.45%	2.83%	0.29%
Net Income+	19.62M	22.17M	81.8M	-25.1M	-50M	-633.6M	-79.7M	70.6M	-8.2M	2.2M
Net Margin %	0.06%	0.07%	0.24%	-0.07%	-0.14%	-4.97%	-0.55%	0.22%	-0.02%	0.01%
Net Income Growth %	-	0.13%	2.69%	-1.31%	-0.99%	-11.67%	0.87%	1.89%	-1.12%	1.27%
Net Income (Continuing)	19.62M	22.17M	81.8M	-25.1M	-50M	-633.6M	-79.7M	130.8M	-8.2M	2.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	39.24	43.78	1.13	-0.34	-0.70	-9.09	-1.62	0.46	-0.78	-0.07
EPS Growth %	-	0.12%	-0.97%	-1.3%	-1.02%	-12.04%	0.82%	1.28%	-2.71%	0.91%
EPS (Basic)	39.66	44.79	1.19	-0.34	-0.70	-9.09	-1.62	0.46	-0.78	-0.07
Diluted Shares Outstanding	500.13K	506.35K	72.12M	72.89M	71.72M	71.43M	71.31M	69.15M	63.96M	156.59M
Basic Shares Outstanding	494.77K	494.88K	68.91M	72.89M	71.72M	71.43M	71.31M	69M	63.96M	156.59M
Dividend Payout Ratio	-	-	0.19%	-	-	-	-	-	-	2.77%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	84.6M	95.56M	93.5M	103M	93.7M	352.3M	290.1M	331.8M	310.9M	306.9M
Cash & Short-Term Investments	16.26M	14.94M	10.9M	20.5M	9.6M	295.3M	231.2M	239.1M	204.2M	194.8M
Cash Only	16.26M	14.94M	10.9M	20.5M	9.6M	295.3M	231.2M	239.1M	204.2M	194.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	47.7M	57.58M	62.7M	62.7M	60.1M	48.5M	46.4M	74.9M	85.2M	82.5M
Days Sales Outstanding	56.83	64.91	66.98	60.11	60.78	138.95	116.4	83.89	81.24	75.51
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	0	0	17.8M	21.5M	29.6M
Total Non-Current Assets+	1.45B	1.48B	1.54B	1.48B	1.38B	702.1M	772.3M	766.6M	743M	741.8M
Property, Plant & Equipment	2.12M	3.78M	3.8M	3.7M	22.5M	19.9M	18.8M	12.8M	10.3M	8.2M
Fixed Asset Turnover	144.80x	85.69x	89.92x	102.89x	16.04x	6.40x	7.74x	25.46x	37.17x	48.63x
Goodwill	890.26M	930.32M	993.7M	1.04B	980.3M	404.3M	514.2M	545.5M	553.9M	573.8M
Intangible Assets	559.43M	541.17M	545M	435.3M	373.8M	275M	236.7M	204.8M	175.1M	155.9M
Long-Term Investments	-52.1M	-33.88M	-10.5M	-8.2M	-13.3M	-2.2M	-2.3M	-2.2M	0	0
Other Non-Current Assets	1.7M	1.69M	1.9M	1.5M	1.4M	2.9M	2.6M	3.5M	3.7M	3.9M
Total Assets+	1.54B	1.57B	1.64B	1.58B	1.47B	1.05B	1.06B	1.1B	1.05B	1.05B
Asset Turnover	0.20x	0.21x	0.21x	0.24x	0.25x	0.12x	0.14x	0.30x	0.36x	0.38x
Asset Growth %	-	0.02%	0.04%	-0.04%	-0.07%	-0.28%	0.01%	0.03%	-0.04%	-0%
Total Current Liabilities+	178.26M	208.62M	223.2M	268.6M	229.3M	115.6M	191.7M	222.2M	230.1M	241.3M
Accounts Payable	1.95M	3.8M	5.3M	3.4M	5.7M	3.8M	12M	20.4M	24.1M	17.3M
Days Payables Outstanding	5.81	11.15	14	7.81	12.08	13.06	41.83	42.31	48.17	35.92
Short-Term Debt	6.3M	10.3M	5.7M	45.7M	15.7M	10M	10.4M	0	4.2M	4.2M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	13.77M	187.56M	200.6M	16.4M	8.2M	40.5M	35.2M	33.2M	16.8M	17.9M
Current Ratio	0.47x	0.46x	0.42x	0.38x	0.41x	3.05x	1.51x	1.49x	1.35x	1.27x
Quick Ratio	0.47x	0.46x	0.42x	0.38x	0.41x	3.05x	1.51x	1.49x	1.35x	1.27x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	909.4M	870.01M	663.9M	611.3M	615.5M	942.6M	991.7M	909.3M	419.2M	421.5M
Long-Term Debt	725.3M	694.1M	548.5M	524.2M	519.7M	515.3M	510.9M	413.9M	398.7M	398.5M
Capital Lease Obligations	0	0	0	0	15.7M	13.4M	13.3M	10.4M	8.9M	5.5M
Deferred Tax Liabilities	181.75M	173.93M	110.7M	83.6M	73.3M	4.1M	1.5M	1.8M	3.1M	4.9M
Other Non-Current Liabilities	2.36M	2.76M	4.7M	3.5M	6.7M	412M	466M	483.2M	7.6M	12.4M
Total Liabilities	1.09B	1.08B	887.2M	879.9M	844.8M	1.06B	1.18B	1.13B	649.3M	662.8M
Total Debt+	731.6M	702.07M	554.2M	569.9M	555.2M	538.7M	534.6M	429.2M	415.8M	412.2M
Net Debt	715.34M	687.12M	543.3M	549.4M	545.6M	243.4M	303.4M	190.1M	211.6M	217.4M
Debt / Equity	1.46x	1.33x	0.73x	0.80x	0.87x	-	-	-	1.03x	1.07x
Debt / EBITDA	5.42x	4.74x	3.74x	3.65x	4.88x	-	-	7.98x	6.11x	4.48x
Net Debt / EBITDA	5.30x	4.64x	3.66x	3.52x	4.80x	-	-	3.53x	3.11x	2.36x
Interest Coverage	1.90x	2.14x	2.74x	3.71x	2.04x	-4.39x	-5.84x	-0.37x	0.53x	1.33x
Total Equity+	502.53M	527.77M	761.2M	708.3M	640.2M	-3.8M	-121M	-33.1M	404.6M	385.9M
Equity Growth %	-	0.05%	0.44%	-0.07%	-0.1%	-1.01%	-30.84%	0.73%	13.22%	-0.05%
Book Value per Share	1004.80	1042.29	10.56	9.72	8.93	-0.05	-1.70	-0.48	6.33	2.46
Total Shareholders' Equity	502.53M	527.77M	761.2M	708.3M	640.2M	-3.8M	-121M	-33.1M	404.6M	385.9M
Common Stock	618K	619K	700K	700K	700K	700K	700K	700K	600K	2M
Retained Earnings	-5.35M	16.82M	83.4M	17.9M	-61.6M	-695.2M	-774.9M	-644.1M	-652.3M	-650.1M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	87.78M	92.98M	110.8M	103.9M	67.8M	-37.1M	90M	174.7M	38.3M	46.8M
Operating CF Margin %	0.29%	0.29%	0.32%	0.27%	0.19%	-0.29%	0.62%	0.54%	0.1%	0.12%
Operating CF Growth %	-	0.06%	0.19%	-0.06%	-0.35%	-1.55%	3.43%	0.94%	-0.78%	0.22%
Net Income	19.62M	22.17M	81.8M	-25.1M	-50M	-633.6M	-79.7M	70.6M	-8.2M	2.2M
Depreciation & Amortization	39.07M	40.05M	43.2M	46.8M	52M	51.9M	50.9M	62.9M	45M	28.3M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	7.89M	10.41M	-39.9M	-24.8M	-15.4M	-58.1M	-400K	300K	1.3M	1.8M
Other Non-Cash Items	20.28M	12.19M	9.6M	112.3M	92.6M	690.6M	54.7M	45.3M	12.8M	19.2M
Working Capital Changes	915K	8.17M	16.1M	-5.3M	-11.4M	-87.9M	64.5M	-4.4M	-12.6M	-4.7M
Change in Receivables	4.39M	-10.62M	-700K	1M	3.4M	12.8M	2.2M	-24.9M	-8.6M	4M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	-2.22M	2.35M	3.3M	3.4M	-7.1M	5.7M	20.8M	6.2M	-11M	-7.9M
Cash from Investing+	-87.02M	-51.87M	-95.5M	-74.7M	-16.7M	-37.3M	-131.9M	-47.9M	-21M	-25M
Capital Expenditures	-2.76M	-3.43M	-3M	-3.5M	-3.9M	-4M	-6.6M	-10.3M	-11.5M	-9.8M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.03%	0.05%	0.03%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	-26.3M	-42.42M	-19.3M	-19.6M	-62M	360.1M	-22.2M	-118.9M	-52.2M	-31.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-15.2M	-21M	-21.3M	-5.4M	0	0	-17.2M	-14.7M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-4.53M	-12.6M	0	-1M	-800K	-4.2M	-4.4M	-3.7M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	86.81M	90.54M	109.9M	103.1M	66.2M	-38M	88.5M	172.9M	37.7M	45.5M
FCF Margin %	0.28%	0.28%	0.32%	0.27%	0.18%	-0.3%	0.61%	0.53%	0.1%	0.11%
FCF Growth %	-	0.04%	0.21%	-0.06%	-0.36%	-1.57%	3.33%	0.95%	-0.78%	0.21%
FCF per Share	173.57	178.80	1.52	1.41	0.92	-0.53	1.24	2.50	0.59	0.29
FCF Conversion (FCF/Net Income)	4.47x	4.19x	1.35x	-4.14x	-1.36x	0.06x	-1.13x	2.47x	-4.67x	21.27x
Interest Paid	49.9M	45.9M	34.7M	28.5M	28.8M	18.5M	13.8M	22.5M	38.1M	43.8M
Taxes Paid	1.2M	3.7M	3.9M	14.8M	11.9M	1.1M	200K	25.6M	6.9M	4.6M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.9%	4.3%	12.69%	-3.42%	-7.42%	-199.12%	-	-	-4.41%	0.56%
Return on Invested Capital (ROIC)	5.91%	6.67%	6.26%	6.39%	3.79%	-9.51%	-32.99%	-4.02%	4.48%	7.85%
Gross Margin	60.02%	61.57%	59.56%	58.26%	52.29%	16.64%	28.04%	46%	52.3%	55.92%
Net Margin	6.4%	6.85%	23.94%	-6.59%	-13.85%	-497.33%	-54.78%	21.66%	-2.14%	0.55%
Debt / Equity	1.46x	1.33x	0.73x	0.80x	0.87x	-	-	-	1.03x	1.07x
Interest Coverage	1.90x	2.14x	2.74x	3.71x	2.04x	-4.39x	-5.84x	-0.37x	0.53x	1.33x
FCF Conversion	4.47x	4.19x	1.35x	-4.14x	-1.36x	0.06x	-1.13x	2.47x	-4.67x	21.27x
Revenue Growth	-	5.66%	5.54%	11.41%	-5.2%	-64.7%	14.21%	123.99%	17.46%	4.18%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Connections	-	-	-	-	-	340.2M	355.1M
Connections Growth	-	-	-	-	-	-	4.38%
Other Operating	-	-	-	-	-	-	43.7M
Other Operating Growth	-	-	-	-	-	-	-
Commerce	-	184.7M	56.9M	57.3M	149.1M	19.1M	20.9M
Commerce Growth	-	-	-69.19%	0.70%	160.21%	-87.19%	9.42%
Content	-	-	-	-	-	23.5M	-
Content Growth	-	-	-	-	-	-	-
Design Creative And Technology	-	-	-	-	157.7M	-	-
Design Creative And Technology Growth	-	-	-	-	-	-	-
Others	-	-	-	-	19.1M	-	-
Others Growth	-	-	-	-	-	-	-
Design And Technology	-	139.9M	51.2M	55.4M	-	-	-
Design And Technology Growth	-	-	-63.40%	8.20%	-	-	-
All Others	-	36.3M	19.3M	32.8M	-	-	-
All Others Growth	-	-	-46.83%	69.95%	-	-	-
Trade Shows	318.9M	-	-	-	-	-	-
Trade Shows Growth	-	-	-	-	-	-	-
Other Events	34.9M	-	-	-	-	-	-
Other Events Growth	-	-	-	-	-	-	-
Other Marketing Services	26.9M	-	-	-	-	-	-
Other Marketing Services Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Emerald Holding, Inc. (EEX) reported $437.5M in revenue for fiscal year 2024. This represents a 43% increase from $306.4M in 2015.

Emerald Holding, Inc. (EEX) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Emerald Holding, Inc. (EEX) is profitable, generating $4.6M in net income for fiscal year 2024 (0.6% net margin).

Dividend & Returns

Yes, Emerald Holding, Inc. (EEX) pays a dividend with a yield of 0.81%. This makes it attractive for income-focused investors.

Emerald Holding, Inc. (EEX) has a return on equity (ROE) of 0.6%. This is below average, suggesting room for improvement.

Emerald Holding, Inc. (EEX) generated $47.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Emerald Holding, Inc. (EEX) 10-Year Financial Performance & Capital Metrics

EEX • • Industrial / General

Communication ServicesAdvertising & MarketingPromotional & Event MarketingEvent Management & Production

Revenue $399M +4.2%
EBITDA $92M +35.2%
Net Income $2M +126.8%
EPS (Diluted) -0.07 +91.5%
Gross Margin 55.92% +6.9%
EBITDA Margin 23.09% +29.8%
Operating Margin 16% +165.1%
Net Margin 0.55% +125.8%
ROE 0.56% +112.6%
ROIC 7.85% +75.1%
Debt/Equity 1.07 +3.9%
Interest Coverage 1.33 +150.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Shares diluted 100.0% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y2.02%

3Y39.95%

TTM11.18%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM121.9%

EPS CAGR

10Y-

5Y-

3Y-

TTM104%

ROCE

10Y Avg2.64%

5Y Avg-1.81%

3Y Avg3.17%

Latest7.82%

Peer Comparison

Event Management & Production

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TDICDreamland Limited Class A Ordinary Shares	6.59M	0.18	0.87	124.08%	14.03%	112.46%		1.62
CPOPPop Culture Group Co., Ltd	34.18M	0.48	-0.11	155.52%	-30.56%	-102.2%		0.41
FTRKFast Track Group	16.62M	0.76	-29.42	-21.49%	-31.94%		2.56%
EEXEmerald Holding, Inc.	947.5M	4.79	-71.49	4.18%	1.05%	1.24%	4.8%	1.07

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	306.4M	323.75M	341.7M	380.7M	360.9M	127.4M	145.5M	325.9M	382.8M	398.8M
Revenue Growth %	-	0.06%	0.06%	0.11%	-0.05%	-0.65%	0.14%	1.24%	0.17%	0.04%
Cost of Goods Sold+	122.52M	124.42M	138.2M	158.9M	172.2M	106.2M	104.7M	176M	182.6M	175.8M
COGS % of Revenue	0.4%	0.38%	0.4%	0.42%	0.48%	0.83%	0.72%	0.54%	0.48%	0.44%
Gross Profit+	183.89M	199.33M	203.5M	221.8M	188.7M	21.2M	40.8M	149.9M	200.2M	223M
Gross Margin %	0.6%	0.62%	0.6%	0.58%	0.52%	0.17%	0.28%	0.46%	0.52%	0.56%
Gross Profit Growth %	-	0.08%	0.02%	0.09%	-0.15%	-0.89%	0.92%	2.67%	0.34%	0.11%
Operating Expenses+	87.95M	91.19M	98.4M	112.6M	127M	111.6M	133.6M	159M	177.1M	159.2M
OpEx % of Revenue	0.29%	0.28%	0.29%	0.3%	0.35%	0.88%	0.92%	0.49%	0.46%	0.4%
Selling, General & Admin	87.95M	91.19M	98.4M	112.6M	127M	111.6M	133.6M	159M	177.1M	159.2M
SG&A % of Revenue	0.29%	0.28%	0.29%	0.3%	0.35%	0.88%	0.92%	0.49%	0.46%	0.4%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	95.94M	108.14M	105.1M	109.2M	61.7M	-90.4M	-92.8M	-9.1M	23.1M	63.8M
Operating Margin %	0.31%	0.33%	0.31%	0.29%	0.17%	-0.71%	-0.64%	-0.03%	0.06%	0.16%
Operating Income Growth %	-	0.13%	-0.03%	0.04%	-0.43%	-2.47%	-0.03%	0.9%	3.54%	1.76%
EBITDA+	135.01M	148.19M	148.3M	156M	113.7M	-38.5M	-41.9M	53.8M	68.1M	92.1M
EBITDA Margin %	0.44%	0.46%	0.43%	0.41%	0.32%	-0.3%	-0.29%	0.17%	0.18%	0.23%
EBITDA Growth %	-	0.1%	0%	0.05%	-0.27%	-1.34%	-0.09%	2.28%	0.27%	0.35%
D&A (Non-Cash Add-back)	39.07M	40.05M	43.2M	46.8M	52M	51.9M	50.9M	62.9M	45M	28.3M
EBIT	80.39M	86.86M	85.1M	-4M	-24.7M	-670.6M	-65.1M	182.5M	40.4M	55.3M
Net Interest Income+	-50.5M	-50.6M	-38.3M	-29.4M	-30.3M	-20.5M	-15.8M	-21.8M	-35.1M	-39.3M
Interest Income	0	0	0	0	0	100K	100K	2.7M	8.2M	8.5M
Interest Expense	50.5M	50.63M	38.3M	29.4M	30.3M	20.6M	15.9M	24.5M	43.3M	47.8M
Other Income/Expense	-65.98M	-71.88M	-58.3M	-142.6M	-116.7M	-600.8M	11.8M	167.1M	-26M	-56.3M
Pretax Income+	29.95M	36.26M	46.8M	-33.4M	-55M	-691.2M	-81M	158M	-2.9M	7.5M
Pretax Margin %	0.1%	0.11%	0.14%	-0.09%	-0.15%	-5.43%	-0.56%	0.48%	-0.01%	0.02%
Income Tax+	10.33M	14.1M	-35M	-8.3M	-5M	-57.6M	-1.3M	27.2M	5.3M	5.3M
Effective Tax Rate %	0.66%	0.61%	1.75%	0.75%	0.91%	0.92%	0.98%	0.45%	2.83%	0.29%
Net Income+	19.62M	22.17M	81.8M	-25.1M	-50M	-633.6M	-79.7M	70.6M	-8.2M	2.2M
Net Margin %	0.06%	0.07%	0.24%	-0.07%	-0.14%	-4.97%	-0.55%	0.22%	-0.02%	0.01%
Net Income Growth %	-	0.13%	2.69%	-1.31%	-0.99%	-11.67%	0.87%	1.89%	-1.12%	1.27%
Net Income (Continuing)	19.62M	22.17M	81.8M	-25.1M	-50M	-633.6M	-79.7M	130.8M	-8.2M	2.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	39.24	43.78	1.13	-0.34	-0.70	-9.09	-1.62	0.46	-0.78	-0.07
EPS Growth %	-	0.12%	-0.97%	-1.3%	-1.02%	-12.04%	0.82%	1.28%	-2.71%	0.91%
EPS (Basic)	39.66	44.79	1.19	-0.34	-0.70	-9.09	-1.62	0.46	-0.78	-0.07
Diluted Shares Outstanding	500.13K	506.35K	72.12M	72.89M	71.72M	71.43M	71.31M	69.15M	63.96M	156.59M
Basic Shares Outstanding	494.77K	494.88K	68.91M	72.89M	71.72M	71.43M	71.31M	69M	63.96M	156.59M
Dividend Payout Ratio	-	-	0.19%	-	-	-	-	-	-	2.77%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	84.6M	95.56M	93.5M	103M	93.7M	352.3M	290.1M	331.8M	310.9M	306.9M
Cash & Short-Term Investments	16.26M	14.94M	10.9M	20.5M	9.6M	295.3M	231.2M	239.1M	204.2M	194.8M
Cash Only	16.26M	14.94M	10.9M	20.5M	9.6M	295.3M	231.2M	239.1M	204.2M	194.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	47.7M	57.58M	62.7M	62.7M	60.1M	48.5M	46.4M	74.9M	85.2M	82.5M
Days Sales Outstanding	56.83	64.91	66.98	60.11	60.78	138.95	116.4	83.89	81.24	75.51
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	0	0	17.8M	21.5M	29.6M
Total Non-Current Assets+	1.45B	1.48B	1.54B	1.48B	1.38B	702.1M	772.3M	766.6M	743M	741.8M
Property, Plant & Equipment	2.12M	3.78M	3.8M	3.7M	22.5M	19.9M	18.8M	12.8M	10.3M	8.2M
Fixed Asset Turnover	144.80x	85.69x	89.92x	102.89x	16.04x	6.40x	7.74x	25.46x	37.17x	48.63x
Goodwill	890.26M	930.32M	993.7M	1.04B	980.3M	404.3M	514.2M	545.5M	553.9M	573.8M
Intangible Assets	559.43M	541.17M	545M	435.3M	373.8M	275M	236.7M	204.8M	175.1M	155.9M
Long-Term Investments	-52.1M	-33.88M	-10.5M	-8.2M	-13.3M	-2.2M	-2.3M	-2.2M	0	0
Other Non-Current Assets	1.7M	1.69M	1.9M	1.5M	1.4M	2.9M	2.6M	3.5M	3.7M	3.9M
Total Assets+	1.54B	1.57B	1.64B	1.58B	1.47B	1.05B	1.06B	1.1B	1.05B	1.05B
Asset Turnover	0.20x	0.21x	0.21x	0.24x	0.25x	0.12x	0.14x	0.30x	0.36x	0.38x
Asset Growth %	-	0.02%	0.04%	-0.04%	-0.07%	-0.28%	0.01%	0.03%	-0.04%	-0%
Total Current Liabilities+	178.26M	208.62M	223.2M	268.6M	229.3M	115.6M	191.7M	222.2M	230.1M	241.3M
Accounts Payable	1.95M	3.8M	5.3M	3.4M	5.7M	3.8M	12M	20.4M	24.1M	17.3M
Days Payables Outstanding	5.81	11.15	14	7.81	12.08	13.06	41.83	42.31	48.17	35.92
Short-Term Debt	6.3M	10.3M	5.7M	45.7M	15.7M	10M	10.4M	0	4.2M	4.2M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	13.77M	187.56M	200.6M	16.4M	8.2M	40.5M	35.2M	33.2M	16.8M	17.9M
Current Ratio	0.47x	0.46x	0.42x	0.38x	0.41x	3.05x	1.51x	1.49x	1.35x	1.27x
Quick Ratio	0.47x	0.46x	0.42x	0.38x	0.41x	3.05x	1.51x	1.49x	1.35x	1.27x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	909.4M	870.01M	663.9M	611.3M	615.5M	942.6M	991.7M	909.3M	419.2M	421.5M
Long-Term Debt	725.3M	694.1M	548.5M	524.2M	519.7M	515.3M	510.9M	413.9M	398.7M	398.5M
Capital Lease Obligations	0	0	0	0	15.7M	13.4M	13.3M	10.4M	8.9M	5.5M
Deferred Tax Liabilities	181.75M	173.93M	110.7M	83.6M	73.3M	4.1M	1.5M	1.8M	3.1M	4.9M
Other Non-Current Liabilities	2.36M	2.76M	4.7M	3.5M	6.7M	412M	466M	483.2M	7.6M	12.4M
Total Liabilities	1.09B	1.08B	887.2M	879.9M	844.8M	1.06B	1.18B	1.13B	649.3M	662.8M
Total Debt+	731.6M	702.07M	554.2M	569.9M	555.2M	538.7M	534.6M	429.2M	415.8M	412.2M
Net Debt	715.34M	687.12M	543.3M	549.4M	545.6M	243.4M	303.4M	190.1M	211.6M	217.4M
Debt / Equity	1.46x	1.33x	0.73x	0.80x	0.87x	-	-	-	1.03x	1.07x
Debt / EBITDA	5.42x	4.74x	3.74x	3.65x	4.88x	-	-	7.98x	6.11x	4.48x
Net Debt / EBITDA	5.30x	4.64x	3.66x	3.52x	4.80x	-	-	3.53x	3.11x	2.36x
Interest Coverage	1.90x	2.14x	2.74x	3.71x	2.04x	-4.39x	-5.84x	-0.37x	0.53x	1.33x
Total Equity+	502.53M	527.77M	761.2M	708.3M	640.2M	-3.8M	-121M	-33.1M	404.6M	385.9M
Equity Growth %	-	0.05%	0.44%	-0.07%	-0.1%	-1.01%	-30.84%	0.73%	13.22%	-0.05%
Book Value per Share	1004.80	1042.29	10.56	9.72	8.93	-0.05	-1.70	-0.48	6.33	2.46
Total Shareholders' Equity	502.53M	527.77M	761.2M	708.3M	640.2M	-3.8M	-121M	-33.1M	404.6M	385.9M
Common Stock	618K	619K	700K	700K	700K	700K	700K	700K	600K	2M
Retained Earnings	-5.35M	16.82M	83.4M	17.9M	-61.6M	-695.2M	-774.9M	-644.1M	-652.3M	-650.1M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	87.78M	92.98M	110.8M	103.9M	67.8M	-37.1M	90M	174.7M	38.3M	46.8M
Operating CF Margin %	0.29%	0.29%	0.32%	0.27%	0.19%	-0.29%	0.62%	0.54%	0.1%	0.12%
Operating CF Growth %	-	0.06%	0.19%	-0.06%	-0.35%	-1.55%	3.43%	0.94%	-0.78%	0.22%
Net Income	19.62M	22.17M	81.8M	-25.1M	-50M	-633.6M	-79.7M	70.6M	-8.2M	2.2M
Depreciation & Amortization	39.07M	40.05M	43.2M	46.8M	52M	51.9M	50.9M	62.9M	45M	28.3M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	7.89M	10.41M	-39.9M	-24.8M	-15.4M	-58.1M	-400K	300K	1.3M	1.8M
Other Non-Cash Items	20.28M	12.19M	9.6M	112.3M	92.6M	690.6M	54.7M	45.3M	12.8M	19.2M
Working Capital Changes	915K	8.17M	16.1M	-5.3M	-11.4M	-87.9M	64.5M	-4.4M	-12.6M	-4.7M
Change in Receivables	4.39M	-10.62M	-700K	1M	3.4M	12.8M	2.2M	-24.9M	-8.6M	4M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	-2.22M	2.35M	3.3M	3.4M	-7.1M	5.7M	20.8M	6.2M	-11M	-7.9M
Cash from Investing+	-87.02M	-51.87M	-95.5M	-74.7M	-16.7M	-37.3M	-131.9M	-47.9M	-21M	-25M
Capital Expenditures	-2.76M	-3.43M	-3M	-3.5M	-3.9M	-4M	-6.6M	-10.3M	-11.5M	-9.8M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.03%	0.05%	0.03%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	-26.3M	-42.42M	-19.3M	-19.6M	-62M	360.1M	-22.2M	-118.9M	-52.2M	-31.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-15.2M	-21M	-21.3M	-5.4M	0	0	-17.2M	-14.7M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-4.53M	-12.6M	0	-1M	-800K	-4.2M	-4.4M	-3.7M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	86.81M	90.54M	109.9M	103.1M	66.2M	-38M	88.5M	172.9M	37.7M	45.5M
FCF Margin %	0.28%	0.28%	0.32%	0.27%	0.18%	-0.3%	0.61%	0.53%	0.1%	0.11%
FCF Growth %	-	0.04%	0.21%	-0.06%	-0.36%	-1.57%	3.33%	0.95%	-0.78%	0.21%
FCF per Share	173.57	178.80	1.52	1.41	0.92	-0.53	1.24	2.50	0.59	0.29
FCF Conversion (FCF/Net Income)	4.47x	4.19x	1.35x	-4.14x	-1.36x	0.06x	-1.13x	2.47x	-4.67x	21.27x
Interest Paid	49.9M	45.9M	34.7M	28.5M	28.8M	18.5M	13.8M	22.5M	38.1M	43.8M
Taxes Paid	1.2M	3.7M	3.9M	14.8M	11.9M	1.1M	200K	25.6M	6.9M	4.6M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.9%	4.3%	12.69%	-3.42%	-7.42%	-199.12%	-	-	-4.41%	0.56%
Return on Invested Capital (ROIC)	5.91%	6.67%	6.26%	6.39%	3.79%	-9.51%	-32.99%	-4.02%	4.48%	7.85%
Gross Margin	60.02%	61.57%	59.56%	58.26%	52.29%	16.64%	28.04%	46%	52.3%	55.92%
Net Margin	6.4%	6.85%	23.94%	-6.59%	-13.85%	-497.33%	-54.78%	21.66%	-2.14%	0.55%
Debt / Equity	1.46x	1.33x	0.73x	0.80x	0.87x	-	-	-	1.03x	1.07x
Interest Coverage	1.90x	2.14x	2.74x	3.71x	2.04x	-4.39x	-5.84x	-0.37x	0.53x	1.33x
FCF Conversion	4.47x	4.19x	1.35x	-4.14x	-1.36x	0.06x	-1.13x	2.47x	-4.67x	21.27x
Revenue Growth	-	5.66%	5.54%	11.41%	-5.2%	-64.7%	14.21%	123.99%	17.46%	4.18%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Connections	-	-	-	-	-	340.2M	355.1M
Connections Growth	-	-	-	-	-	-	4.38%
Other Operating	-	-	-	-	-	-	43.7M
Other Operating Growth	-	-	-	-	-	-	-
Commerce	-	184.7M	56.9M	57.3M	149.1M	19.1M	20.9M
Commerce Growth	-	-	-69.19%	0.70%	160.21%	-87.19%	9.42%
Content	-	-	-	-	-	23.5M	-
Content Growth	-	-	-	-	-	-	-
Design Creative And Technology	-	-	-	-	157.7M	-	-
Design Creative And Technology Growth	-	-	-	-	-	-	-
Others	-	-	-	-	19.1M	-	-
Others Growth	-	-	-	-	-	-	-
Design And Technology	-	139.9M	51.2M	55.4M	-	-	-
Design And Technology Growth	-	-	-63.40%	8.20%	-	-	-
All Others	-	36.3M	19.3M	32.8M	-	-	-
All Others Growth	-	-	-46.83%	69.95%	-	-	-
Trade Shows	318.9M	-	-	-	-	-	-
Trade Shows Growth	-	-	-	-	-	-	-
Other Events	34.9M	-	-	-	-	-	-
Other Events Growth	-	-	-	-	-	-	-
Other Marketing Services	26.9M	-	-	-	-	-	-
Other Marketing Services Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Emerald Holding, Inc. (EEX) reported $437.5M in revenue for fiscal year 2024. This represents a 43% increase from $306.4M in 2015.

Emerald Holding, Inc. (EEX) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Emerald Holding, Inc. (EEX) is profitable, generating $4.6M in net income for fiscal year 2024 (0.6% net margin).

Dividend & Returns

Yes, Emerald Holding, Inc. (EEX) pays a dividend with a yield of 0.81%. This makes it attractive for income-focused investors.

Emerald Holding, Inc. (EEX) has a return on equity (ROE) of 0.6%. This is below average, suggesting room for improvement.

Emerald Holding, Inc. (EEX) generated $47.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.