Latest Ratios: P/E Ratio -11.2x · EV/EBITDA 15.6x · ROE N/A. (2003–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.1B | $670M | $877M | $498M | $1.6B | $766M | $1.2B | $1.9B | $1.7B | $1.8B |
| Enterprise Value | $7.5B | $7.4B | $7.6B | $7.8B | $7.2B | $8.4B | $7.2B | $7.8B | $7.0B | $6.8B | $6.4B |
| P/E Ratio → | -11.19 | — | — | — | — | — | — | — | — | — | 13.65 |
| P/S Ratio | 0.75 | 0.69 | 0.45 | 0.61 | 0.36 | 0.88 | 0.41 | 0.44 | 0.69 | 0.64 | 0.68 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 37.40 | 34.44 | — | — | — | — | — | — | — | — | 22.68 |
| P/OCF | 10.41 | 9.59 | 8.40 | 28.05 | 3.56 | — | — | 5.51 | 10.02 | 10.38 | 5.89 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.60 | 5.04 | 5.44 | 5.23 | 4.73 | 3.90 | 2.91 | 2.56 | 2.62 | 2.39 |
| EV / EBITDA | 15.60 | 15.40 | 16.73 | 16.42 | 13.16 | 19.43 | 56.82 | 13.77 | 12.22 | 12.15 | 6.56 |
| EV / EBIT | 24.57 | 24.87 | 28.25 | 36.29 | 28.33 | — | — | 60.11 | 26.89 | 32.30 | 22.08 |
| EV / FCF | — | 230.83 | — | — | — | — | — | — | — | — | 79.50 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.5% | 42.5% | 54.8% | 54.0% | 57.4% | 49.8% | 35.2% | 45.9% | 46.0% | 45.5% | 47.3% |
| Operating Margin | 19.0% | 19.0% | 18.5% | 15.1% | 18.5% | 3.3% | -15.8% | 9.4% | 9.3% | 9.0% | 23.6% |
| Net Profit Margin | -6.5% | -6.5% | -11.9% | -21.7% | -7.0% | -24.5% | -31.4% | -13.5% | -8.0% | -24.9% | 5.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — |
| ROA | -2.4% | -2.4% | -3.8% | -6.3% | -1.9% | -7.8% | -9.6% | -6.7% | -4.7% | -12.4% | 2.2% |
| ROIC | 7.4% | 7.4% | 6.2% | 4.7% | 5.4% | 1.2% | -5.3% | 5.0% | 6.0% | 4.9% | 12.0% |
| ROCE | 9.0% | 9.0% | 7.6% | 5.6% | 6.3% | 1.3% | -5.9% | 5.6% | 6.5% | 5.1% | 12.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 13.50 | 13.50 | 15.50 | 15.10 | 12.77 | 16.78 | 56.97 | 12.39 | 9.25 | 9.43 | 5.24 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 13.10 | 13.10 | 15.25 | 14.57 | 12.25 | 15.83 | 50.80 | 11.69 | 8.93 | 9.18 | 4.69 |
| Debt / FCF | — | 196.39 | — | — | — | — | — | — | — | — | 56.82 |
| Interest Coverage | 0.75 | 0.75 | 0.67 | 0.51 | 0.76 | -0.13 | -0.83 | 0.31 | 0.67 | 0.55 | 0.77 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.28 | 1.28 | 1.30 | 1.08 | 1.00 | 1.02 | 1.22 | 1.02 | 1.39 | 1.48 | 2.09 |
| Quick Ratio | 1.28 | 1.28 | 1.30 | 1.08 | 1.00 | 1.02 | 1.21 | 1.00 | 1.37 | 1.45 | 2.06 |
| Cash Ratio | 0.31 | 0.31 | 0.09 | 0.28 | 0.25 | 0.37 | 0.72 | 0.34 | 0.25 | 0.22 | 0.84 |
| Asset Turnover | — | 0.42 | 0.31 | 0.30 | 0.27 | 0.33 | 0.32 | 0.42 | 0.60 | 0.55 | 0.47 |
| Inventory Turnover | — | — | — | — | — | — | 72.40 | 68.75 | 81.43 | 64.26 | 66.93 |
| Days Sales Outstanding | — | 84.50 | 83.44 | 127.20 | 119.86 | 132.71 | 92.17 | 96.99 | 95.40 | 93.67 | 82.04 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 0.1% | 0.1% | 1.6% | 20.0% | 41.4% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | 559.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | 7.3% |
| FCF Yield | 2.7% | 2.9% | — | — | — | — | — | — | — | — | 4.4% |
| Buyback Yield | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 1.6% | 20.0% | 41.4% |
| Shares Outstanding | — | $498M | $489M | $482M | $474M | $468M | $465M | $413M | $362M | $361M | $362M |
Includes 30+ ratios · 23 years · Updated daily
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Quick answers to the most common questions about buying CCO stock.
Clear Channel Outdoor Holdings, Inc.'s current P/E ratio is -11.2x. The historical average is 67.7x.
Clear Channel Outdoor Holdings, Inc.'s current EV/EBITDA is 15.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.5x.
Based on historical data, Clear Channel Outdoor Holdings, Inc. is trading at a P/E of -11.2x. Compare with industry peers and growth rates for a complete picture.
Clear Channel Outdoor Holdings, Inc. has 42.5% gross margin and 19.0% operating margin. Operating margin between 10-20% is typical for established companies.
Clear Channel Outdoor Holdings, Inc.'s Debt/EBITDA ratio is 13.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Debt burden and interest costs
Metrics are mathematically derived from official filings.
Margin Recovery Masked by Debt Drag
Operating margin expanded to 20.3% in 2026Q2 from 15.1% in 2026Q1, yet net margin remained negative at -1.2%, as reported in financial statements, underscoring interest expense's persistent drag.
The gross margin anomaly in 2026Q2 (100%) likely reflects a data artifact, but normalized gross margins near 50% indicate structural lease cost pressures. Operating leverage is emerging as revenue growth outpaces SG&A, but the bottom line remains hostage to a heavy debt load, with interest coverage at 0.90x in 2026Q2. Investors should monitor whether operating margin expansion can eventually offset interest costs, as the current trajectory suggests profitability remains strained.
ROIC Recovery Still Subpar
ROIC improved to 4.7% in 2026Q2 from 1.5% in 2026Q1, as per quarterly data, but remains below the cost of capital, indicating value destruction despite cyclical recovery.
The sequential improvement in ROIC is encouraging, but the absolute level remains inadequate for a company with this risk profile. The gap between ROIC and the weighted average cost of capital likely persists, suggesting that even with operational improvements, the company is not yet compounding shareholder value. The driver appears to be margin recovery rather than asset efficiency, as asset turnover remains low at 0.24x in 2026Q2, reflecting the capital-intensive nature of billboard assets.
Working Capital Efficiency Improving
DSO fell to 36 days in 2026Q2 from 86 days in 2026Q1, as per reported figures, while the current ratio held at 1.25, indicating tighter receivables management and stable liquidity.
The sharp reduction in DSO suggests improved collection processes or a shift in revenue mix toward cash-paying advertisers. However, the absence of DIO and DPO data limits a full cash conversion cycle assessment. The stable current ratio of 1.25 provides a modest buffer, but the thin absolute cash position ($192M) against a $6.5B debt load underscores the fragility of the liquidity position. Efficiency gains in working capital are positive but insufficient to offset the structural leverage.
Leverage Remains the Dominant Risk
D/EBITDA improved to 0.05x in 2026Q2 from 65.74x in 2026Q1, as per financial statements, but this volatility reflects asset sales and EBITDA swings, not a structural deleveraging.
The dramatic fluctuation in D/EBITDA is misleading; the 2026Q2 figure likely benefits from a one-time EBITDA boost or debt repayment, while the 2026Q1 figure was distorted by low EBITDA. Interest coverage remains thin at 0.90x, indicating that operating income barely covers interest expense. The company's negative equity of -$3.5B and total debt of $6.5B suggest that refinancing risk is acute, especially in a high-rate environment. Investors should monitor the pace of asset sales and their use of proceeds for debt reduction.
Thin Liquidity Cushion
Current ratio improved to 1.25 in 2026Q2 from 1.00 in 2024Q3, as per balance sheet data, but cash of $192M against $6.5B debt leaves little room for stress.
The liquidity position appears adequate on a current basis, but the quick ratio equals the current ratio, indicating no inventory buffer. Under a severe ad-spend downturn, cash flows could deteriorate rapidly due to high fixed lease costs, potentially straining the ability to meet near-term obligations. The modest cash balance and negative equity suggest that external financing may be difficult to access, making the company vulnerable to a liquidity shock.
EV/EBITDA Misleads on Leverage
EV/EBITDA of 15.66x appears reasonable versus peers, but it obscures the true leverage burden, as per reported figures, since EBITDA does not capture interest and lease costs.
For a highly leveraged company like CCO, EV/EBITDA can be misleading because it ignores the capital structure's impact on equity value. The metric treats all EBITDA as available to stakeholders, but a significant portion is consumed by interest expense and mandatory lease payments. A more appropriate measure is EV/EBITDAR or unlevered free cash flow yield, which adjusts for lease costs and maintenance capex. Investors should focus on the company's ability to service debt from operating cash flow, not just EBITDA generation.