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Clear Channel Outdoor Holdings, Inc. (CCO) 10-Year Financial Performance & Capital Metrics

CCO • • Industrial / General
Communication ServicesAdvertising & MarketingOut-of-Home AdvertisingOutdoor & Transit Advertising
AboutClear Channel Outdoor Holdings, Inc. owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures. It also provides street furniture equipment, cleaning and maintenance services, operation of public bike programs, and production services; and a public bicycle rental program, which offers bicycles for rent to the general public in various municipalities. As of December 31, 2021, it owned or operated approximately 69,000 advertising displays in the Americas; and 430,000 advertising displays in Europe. The company was formerly known as Eller Media Company and changed its name to Clear Channel Outdoor Holdings, Inc. in August 2005. Clear Channel Outdoor Holdings, Inc. was founded in 1901 and is headquartered in San Antonio, Texas.Show more
  • Revenue $1.51B +5.0%
  • EBITDA $453M -4.6%
  • Net Income -$179M +42.3%
  • EPS (Diluted) -0.37 +43.1%
  • Gross Margin 54.79% +1.5%
  • EBITDA Margin 30.11% -9.1%
  • Operating Margin 18.55% +22.7%
  • Net Margin -11.91% +45.1%
  • ROE -
  • ROIC 6.21% +32.5%
  • Debt/Equity -
  • Interest Coverage 0.70 +35.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Momentum leader: RS Rating 87 (top 13%)

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Sales declining 10.9% over 5 years

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-6.54%
5Y-10.92%
3Y-5.24%
TTM-15.88%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM95.65%

EPS CAGR

10Y-
5Y-
3Y-
TTM148.36%

ROCE

10Y Avg4.88%
5Y Avg2.96%
3Y Avg6.47%
Latest7.58%

Peer Comparison

Outdoor & Transit Advertising
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CCOClear Channel Outdoor Holdings, Inc.1.04B2.09-5.654.95%-0.38%
BOCBoston Omaha Corporation384.98M12.47-304.1512.49%-0.21%-0.04%0.18

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+2.81B2.7B2.59B2.72B2.68B1.85B1.77B1.38B1.43B1.51B
Revenue Growth %-0.05%-0.04%-0.04%0.05%-0.01%-0.31%-0.05%-0.22%0.04%0.05%
Cost of Goods Sold+1.49B1.44B1.41B1.47B1.45B1.2B887.03M588.78M660.34M680.58M
COGS % of Revenue0.53%0.53%0.54%0.54%0.54%0.65%0.5%0.43%0.46%0.45%
Gross Profit+1.31B1.27B1.18B1.25B1.23B653.4M881.72M792.78M773.85M824.65M
Gross Margin %0.47%0.47%0.46%0.46%0.46%0.35%0.5%0.57%0.54%0.55%
Gross Profit Growth %-0.04%-0.03%-0.07%0.06%-0.02%-0.47%0.35%-0.1%-0.02%0.07%
Operating Expenses+1.03B622.02M942.49M991.46M978.73M945.81M822.93M536.93M557.04M545.47M
OpEx % of Revenue0.37%0.23%0.36%0.36%0.36%0.51%0.47%0.39%0.39%0.36%
Selling, General & Admin647.88M632.59M642.89M675.01M665.27M579.61M487.87M231.23M235.47M373.03M
SG&A % of Revenue0.23%0.23%0.25%0.25%0.25%0.31%0.28%0.17%0.16%0.25%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses-2.4M-70.15M237K-1.72M313.46M366.21M335.06M305.7M321.57M172.44M
Operating Income+261M637.53M232.28M251.8M252.9M-292.41M58.79M255.85M216.81M279.18M
Operating Margin %0.09%0.24%0.09%0.09%0.09%-0.16%0.03%0.19%0.15%0.19%
Operating Income Growth %-0.08%1.44%-0.64%0.08%0%-2.16%1.2%3.35%-0.15%0.29%
EBITDA+636.96M981.65M558.28M570.75M567.53M127.41M430.9M549.21M475.15M453.18M
EBITDA Margin %0.23%0.36%0.22%0.21%0.21%0.07%0.24%0.4%0.33%0.3%
EBITDA Growth %-0.08%0.54%-0.43%0.02%-0.01%-0.78%2.38%0.27%-0.13%-0.05%
D&A (Non-Cash Add-back)375.96M344.12M325.99M318.95M314.62M419.82M372.11M293.36M258.34M174M
EBIT334.39M610.4M-595.6M217.41M130M-297.97M-45.61M255.07M214.93M268.41M
Net Interest Income+-294.23M-324.72M-310.83M-387.74M-419.52M-360.26M-349M-334.06M-421.43M-401.54M
Interest Income61.44M50.31M68.87M393K000000
Interest Expense355.67M374.89M379.7M388.13M419.52M360.26M349M334.06M421.43M401.54M
Other Income/Expense-281.99M-396.56M-1.14B-422.13M-542.42M-365.82M-453.39M-334.84M-399.93M-412.31M
Pretax Income+-21.13M241.11M-906.43M-170.33M-289.52M-658.23M-394.6M-78.99M-183.12M-133.13M
Pretax Margin %-0.01%0.09%-0.35%-0.06%-0.11%-0.35%-0.22%-0.06%-0.13%-0.09%
Income Tax+50.18M76.67M-280.22M32.52M72.25M-58.01M-36.46M-89.91M-23.68M-9.37M
Effective Tax Rate %4.55%0.59%0.71%1.28%1.25%0.89%1.1%1.22%1.7%1.35%
Net Income+-96.07M141.43M-644.35M-218.24M-363.3M-582.74M-433.81M-96.6M-310.92M-179.25M
Net Margin %-0.03%0.05%-0.25%-0.08%-0.14%-0.31%-0.25%-0.07%-0.22%-0.12%
Net Income Growth %-9.02%2.47%-5.56%0.66%-0.66%-0.6%0.26%0.78%-2.22%0.42%
Net Income (Continuing)-71.31M157.88M-626.21M-202.84M-361.78M-600.23M-358.14M10.92M-159.44M-123.76M
Discontinued Operations000000-74.98M-105.31M-149.37M-52.11M
Minority Interest187.78M149.89M157.04M160.36M152.81M10.86M11.06M12.86M12.3M11.67M
EPS (Diluted)+-0.270.37-1.78-0.60-0.88-1.29-0.92-0.20-0.65-0.37
EPS Growth %-9.11%2.37%-5.81%0.66%-0.47%-0.47%0.29%0.78%-2.25%0.43%
EPS (Basic)-0.270.37-1.78-0.60-0.88-1.29-0.92-0.20-0.65-0.37
Diluted Shares Outstanding359.51M361.61M361.14M361.74M413.09M464.52M468.49M474.36M481.73M488.95M
Basic Shares Outstanding355.49M360.29M361.14M361.74M413.09M464.52M468.49M474.36M481.73M488.95M
Dividend Payout Ratio-5.34%--------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.58B1.34B974.17M1.02B1.2B1.33B1.13B1.12B957.4M1.66B
Cash & Short-Term Investments412.74M542M144.12M182.46M398.86M785.31M410.77M282.23M251.65M109.71M
Cash Only412.74M542M144.12M182.46M398.86M785.31M410.77M282.23M251.65M109.71M
Short-Term Investments0000000000
Accounts Receivable699.86M602.37M664.37M711.4M713.14M468.33M643.12M453.68M499.81M344.1M
Days Sales Outstanding91.0381.3693.6795.496.9992.17132.71119.86127.283.44
Inventory23.51M21.19M21.94M18.06M21.12M16.59M0000
Days Inventory Outstanding5.745.395.684.485.315.04----
Other Current Assets303.85M63.63M5.77M3.93M7.3M15.02M26.46M340.01M156.54M1.18B
Total Non-Current Assets+4.78B4.38B3.7B3.51B5.19B4.42B4.16B3.97B3.77B3.15B
Property, Plant & Equipment1.63B1.41B1.4B1.29B3.1B2.52B2.39B2.08B2.16B1.8B
Fixed Asset Turnover1.72x1.91x1.86x2.11x0.87x0.74x0.74x0.67x0.66x0.84x
Goodwill758.58M696.26M714.04M706M704.16M709.64M698.7M650.64M656.56M507.82M
Intangible Assets1.31B1.26B1.25B1.22B1.29B1.12B989.11M974.01M904.87M831.77M
Long-Term Investments8.43M10.18M10.04M9.89M9.02M8.49M0000
Other Non-Current Assets4.63M30.7M31.1M45.27M89.05M61.61M82.3M264.06M45.99M10.11M
Total Assets+6.36B5.72B4.67B4.52B6.39B5.76B5.3B5.09B4.72B4.8B
Asset Turnover0.44x0.47x0.55x0.60x0.42x0.32x0.33x0.27x0.30x0.31x
Asset Growth %-0%-0.1%-0.18%-0.03%0.41%-0.1%-0.08%-0.04%-0.07%0.02%
Total Current Liabilities+920.61M634.7M657.51M729.82M1.18B1.09B1.11B1.12B883.73M1.27B
Accounts Payable100.21M86.87M87.96M113.71M94.59M101.16M108.57M73.43M63.59M38.77M
Days Payables Outstanding24.4722.0922.7728.2223.7730.7444.6745.5235.1520.79
Short-Term Debt4.31M6.97M573K227K20.29M21.4M21.16M21.2M612K348K
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities217.02M000171.46M85.93M144.8M442.77M384.7M816.93M
Current Ratio1.71x2.11x1.48x1.39x1.02x1.22x1.02x1.00x1.08x1.30x
Quick Ratio1.69x2.08x1.45x1.37x1.00x1.21x1.02x1.00x1.08x1.30x
Cash Conversion Cycle72.364.6676.5871.6678.5266.47----
Total Non-Current Liabilities+6.01B6.02B5.87B5.89B7.27B7.45B7.38B7.23B7.29B7.17B
Long-Term Debt5.11B5.11B5.27B5.28B5.06B5.55B5.58B5.54B5.63B5.66B
Capital Lease Obligations00001.56B1.34B1.31B1.24B1.33B1.23B
Deferred Tax Liabilities608.91M640.57M321.44M335.01M416.07M356.27M324.58M236.21M231.48M221.81M
Other Non-Current Liabilities290.83M898.02M605.41M262.61M226.93M198.75M161.1M212.84M100.58M60.95M
Total Liabilities6.93B6.65B6.53B6.62B8.45B8.54B8.49B8.35B8.17B8.44B
Total Debt+5.16B5.12B5.27B5.28B7.03B7.26B7.23B7.01B7.17B7.02B
Net Debt4.75B4.57B5.12B5.09B6.63B6.47B6.82B6.73B6.92B6.91B
Debt / Equity----------
Debt / EBITDA8.10x5.21x9.43x9.25x12.39x56.97x16.78x12.77x15.10x15.50x
Net Debt / EBITDA7.45x4.66x9.18x8.93x11.69x50.80x15.83x12.25x14.57x15.25x
Interest Coverage0.73x1.70x0.61x0.65x0.60x-0.81x0.17x0.77x0.51x0.70x
Total Equity+-569.67M-782.91M-1.86B-2.1B-2.05B-2.78B-3.19B-3.26B-3.45B-3.64B
Equity Growth %-10.12%-0.37%-1.37%-0.13%0.02%-0.35%-0.15%-0.02%-0.06%-0.05%
Book Value per Share-1.58-2.17-5.15-5.81-4.97-5.99-6.82-6.88-7.16-7.44
Total Shareholders' Equity-757.44M-932.8M-2.02B-2.26B-2.21B-2.79B-3.21B-3.28B-3.46B-3.65B
Common Stock3.62M3.63M3.65M3.67M4.67M4.69M4.75M4.84M4.94M5.03M
Retained Earnings-4.27B-4.13B-4.78B-5B-5.35B-5.94B-6.37B-6.47B-6.78B-6.96B
Treasury Stock-2.1M-4.11M-5.79M-6.58M-2.62M-3.08M-7.84M-18.79M-23.57M-28.45M
Accumulated OCI-451.83M-386.66M-340.09M-344.49M-349.55M-358.52M-350.95M-335.19M-227.34M-257.84M
Minority Interest187.78M149.89M157.04M160.36M152.81M10.86M11.06M12.86M12.3M11.67M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+298.93M310.29M160.12M187.28M214.53M-137.81M-133.5M139.99M31.25M79.75M
Operating CF Margin %0.11%0.11%0.06%0.07%0.08%-0.07%-0.08%0.1%0.02%0.05%
Operating CF Growth %-0.14%0.04%-0.48%0.17%0.15%-1.64%0.03%2.05%-0.78%1.55%
Net Income-71.31M164.43M-626.21M-202.84M-361.78M-600.23M-433.12M-94.39M-308.82M-175.88M
Depreciation & Amortization375.96M344.12M325.99M318.95M309.32M269.42M372.11M293.36M258.34M239.57M
Stock-Based Compensation8.36M10.24M9.59M8.52M15.77M13.23M19.4M21.15M20.49M26.21M
Deferred Taxes3.54M31.33M-311.08M14.39M24.07M-80.34M-31.58M-81.84M-12.24M-11.5M
Other Non-Cash Items25.17M-264.36M815.49M53.65M124.54M465.58M476.89M377.5M405.71M326.45M
Working Capital Changes-42.78M24.52M-53.66M-5.39M102.6M-205.48M-537.18M-375.79M-332.23M-325.12M
Change in Receivables-56.58M30.31M-39.79M-74.6M-12.55M109.01M-177.07M-20.53M-35.76M-23.89M
Change in Inventory-1.24M10.13M2.72M28.86M78.07M-331.44M0000
Change in Payables30.64M-3.8M-4.13M29.25M-13.52M9.97M94.69M638K6.82M-31.42M
Cash from Investing+-257.73M551.5M-154.52M-203.59M-220.04M94.52M-152.7M-221.7M-119.57M-155.94M
Capital Expenditures-218.33M-229.77M-224.24M-211.08M-232.46M-124.16M-148.01M-184.68M-166.59M-142.4M
CapEx % of Revenue0.08%0.09%0.09%0.08%0.09%0.07%0.08%0.13%0.12%0.09%
Acquisitions----------
Investments----------
Other Investing-14.69M780.49M69.72M7.49M8.02M253K-4.7M-2.12M-687K-618K
Cash from Financing+199.05M-726.5M-379.51M40.69M220.01M418.28M-85.24M-32.72M45.64M-8.18M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-30.87M-755.54M-332.82M-30.68M-740K-405K0000
Share Repurchases----------
Other Financing-19.82M26.62M-201.03M72M84.57M-11.35M-29.77M-11.34M-20.82M-24.74M
Net Change in Cash----------
Free Cash Flow+80.6M80.52M-64.12M-23.8M-17.94M-261.97M-281.5M-44.69M-135.34M-62.65M
FCF Margin %0.03%0.03%-0.02%-0.01%-0.01%-0.14%-0.16%-0.03%-0.09%-0.04%
FCF Growth %-0.31%-0%-1.8%0.63%0.25%-13.6%-0.07%0.84%-2.03%0.54%
FCF per Share0.220.22-0.18-0.07-0.04-0.56-0.60-0.09-0.28-0.13
FCF Conversion (FCF/Net Income)-3.11x2.19x-0.25x-0.86x-0.59x0.24x0.31x-1.45x-0.10x-0.44x
Interest Paid356.02M368.05M374.31M375.49M323.89M323.8M387.58M341.44M404.4M434.52M
Taxes Paid43.78M40.19M33.75M29M25.2M35.23M4.77M4.96M10.35M16.15M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Invested Capital (ROIC)4.36%12%4.94%6.04%5.01%-5.3%1.21%5.41%4.69%6.21%
Gross Margin46.73%46.88%45.54%45.97%45.89%35.23%49.85%57.38%53.96%54.79%
Net Margin-3.42%5.23%-24.89%-8.02%-13.54%-31.42%-24.53%-6.99%-21.68%-11.91%
Interest Coverage0.73x1.70x0.61x0.65x0.60x-0.81x0.17x0.77x0.51x0.70x
FCF Conversion-3.11x2.19x-0.25x-0.86x-0.59x0.24x0.31x-1.45x-0.10x-0.44x
Revenue Growth-5.24%-3.7%-4.21%5.14%-1.39%-30.9%-4.63%-21.89%3.81%4.95%

Revenue by Segment

2015201620172018201920202021202220232024
Americas1.35B--1.19B1.27B976.97M1.17B1.11B1.1B1.14B
Americas Growth----7.03%-23.26%20.13%-5.80%-0.43%3.88%
Airports-------256.4M311.61M361.49M
Airports Growth--------21.53%16.01%
Others-----73.24M---232K
Others Growth----------
Europe-North-------566.12M619.56M-
Europe-North Growth--------9.44%-
Europe-South-------467.11M--
Europe-South Growth----------
Europe-----804.39M1.01B---
Europe Growth------25.42%---
International Outdoor Advertising-1.42B1.33B-------
International Outdoor Advertising Growth---6.25%-------
Americas Outdoor Advertising-1.28B1.26B-------
Americas Outdoor Advertising Growth---1.73%-------
International1.46B---------
International Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
Americas1.35B----976.97M-1.36B1.41B1.5B
Americas Growth--------3.71%6.55%
SINGAPORE---------232K
SINGAPORE Growth----------
Europe---856.48M1.09B804.39M--619.56M-
Europe Growth----26.82%-25.94%----
Europe------1.01B1.03B--
Europe Growth-------2.41%--
Americas------1.17B---
Americas Growth----------
FRANCE--300M-284M215M----
FRANCE Growth------24.30%----
UNITED STATES-1.1B1.1B1.2B1.27B-----
UNITED STATES Growth--0.00%9.09%6.08%-----
Asia Pacific----235.02M-----
Asia Pacific Growth----------
CHINA----209M-----
CHINA Growth----------
OTHER AMERICAS---55.88M89.57M-----
OTHER AMERICAS Growth----60.30%-----
ASIA PACIFIC AND OTHER---11.94M------
ASIA PACIFIC AND OTHER Growth----------
Non-US-1.6B1.5B-------
Non-US Growth---6.25%-------
International1.46B---------
International Growth----------

Frequently Asked Questions

Growth & Financials

Clear Channel Outdoor Holdings, Inc. (CCO) reported $1.57B in revenue for fiscal year 2024. This represents a 48% decrease from $3.00B in 2011.

Clear Channel Outdoor Holdings, Inc. (CCO) grew revenue by 5.0% over the past year. Growth has been modest.

Clear Channel Outdoor Holdings, Inc. (CCO) reported a net loss of $5.9M for fiscal year 2024.

Dividend & Returns

Clear Channel Outdoor Holdings, Inc. (CCO) had negative free cash flow of $26.2M in fiscal year 2024, likely due to heavy capital investments.

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