CCO is no longer listed. Its last trade on record was Oct 15, 2026. The price and figures on this page are from its last trading day and final filings, and are no longer updated.
Revenue grew 8.7% YoY in 2026Q2 to $438.0M, but net losses persist at -$5.3M, with gross margin volatility swinging from 40.7% to 100% in recent quarters.
Clear Channel Outdoor Holdings, Inc. (CCO) annual income statement — 23-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 |
|---|
| Sales/Revenue | 1.68B | 1.6B | 1.51B | 1.43B | 1.38B | 1.77B | 1.85B | 2.68B | 2.72B | 2.59B | 2.68B | 2.81B | 2.96B | 2.95B | 2.95B | 3B | 2.8B | 2.7B | 3.29B | 3.28B | 2.9B | 2.67B | 2.45B | 2.17B |
| Revenue Growth % | 9.11% | 6.57% | 4.95% | 3.81% | -21.89% | -4.63% | -30.9% | -1.39% | 5.14% | -3.4% | -4.5% | -5.24% | 0.51% | -0.03% | -1.9% | 7.36% | 3.71% | -17.98% | 0.23% | 13.26% | 8.69% | 8.95% | 12.53% | - |
| Cost of Goods Sold | 660.22M | 922.86M | 680.58M | 660.34M | 588.78M | 887.03M | 1.2B | 1.45B | 1.47B | 1.41B | 1.42B | 1.49B | 1.6B | 2B | 1.61B | 1.64B | 1.56B | 2.03B | 2.35B | 1.73B | 1.45B | 1.34B | 1.26B | 1.13B |
| COGS % of Revenue | - | 57.53% | 45.21% | 46.04% | 42.62% | 50.15% | 64.77% | 54.11% | 54.03% | 54.46% | 52.93% | 53.27% | 53.93% | 67.81% | 54.68% | 54.56% | 55.75% | 75.1% | 71.58% | 52.86% | 50.15% | 50.35% | 51.59% | 52.12% |
| Gross Profit | 1.02B | 681.28M | 824.65M | 773.85M | 792.78M | 881.72M | 653.4M | 1.23B | 1.25B | 1.18B | 1.27B | 1.31B | 1.36B | 1.36B | 1.34B | 1.37B | 1.24B | 671.92M | 934.8M | 1.55B | 1.44B | 1.32B | 1.18B | 1.04B |
| Gross Margin % | 60.68% | 42.47% | 54.79% | 53.96% | 57.38% | 49.85% | 35.23% | 45.89% | 45.97% | 45.54% | 47.27% | 46.73% | 46.07% | 46.3% | 45.59% | 45.71% | 44.25% | 24.9% | 28.42% | 47.14% | 49.85% | 49.65% | 48.41% | 47.88% |
| Gross Profit Growth % | - | -17.39% | 6.56% | -2.39% | -10.09% | 34.94% | -46.95% | -1.55% | 6.12% | -6.94% | -3.39% | -3.89% | 0.03% | 1.53% | -2.15% | 10.9% | 84.25% | -28.12% | -39.57% | 7.09% | 9.13% | 11.74% | 13.78% | - |
| Operating Expenses | 679.25M | 376.92M | 545.47M | 557.04M | 536.93M | 822.93M | 945.81M | 978.73M | 999.23M | 942.49M | 629.57M | 1.05B | 1.08B | 1.07B | 1.08B | 1.07B | 1.05B | 535.1M | 641.91M | 1B | 999.16M | 1B | 941.44M | 890.77M |
| OpEx % of Revenue | - | 23.5% | 36.24% | 38.84% | 38.86% | 46.53% | 51% | 36.47% | 36.71% | 36.41% | 23.49% | 37.43% | 36.42% | 36.45% | 36.53% | 35.68% | 37.57% | 19.83% | 19.52% | 30.58% | 34.48% | 37.51% | 38.47% | 40.96% |
| Selling, General & Admin | 325.58M | 262.38M | 373.03M | 235.47M | 231.23M | 487.87M | 579.61M | 665.27M | 675.01M | 642.89M | 632.59M | 647.88M | 679.41M | 667.97M | 682.72M | 631.08M | 602.25M | 549.65M | 677.41M | 604.07M | 614.28M | 602.89M | 499.46M | 456.89M |
| SG&A % of Revenue | - | 16.36% | 24.78% | 16.42% | 16.74% | 27.58% | 31.25% | 24.79% | 24.8% | 24.83% | 23.61% | 23.09% | 22.94% | 22.67% | 23.17% | 21.01% | 21.52% | 20.37% | 20.59% | 18.41% | 21.2% | 22.61% | 20.41% | 21.01% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 114.54M | 172.44M | 321.57M | 305.7M | 335.06M | 366.21M | 313.46M | 324.23M | 299.6M | -3.02M | 402.56M | 398.98M | 405.84M | 393.74M | 440.63M | 448.83M | -14.55M | -35.5M | 399.48M | 384.88M | 397.15M | 441.99M | 433.87M |
| Operating Income | 339.59M | 304.36M | 279.18M | 216.81M | 255.85M | 58.79M | -292.41M | 252.9M | 251.8M | 232.28M | 631.94M | 261M | 282.44M | 290.15M | 266.99M | 302.94M | 241.38M | 136.82M | 292.89M | 555.26M | 412.81M | 323.73M | 243.28M | 150.44M |
| Operating Margin % | 20.23% | 18.97% | 18.55% | 15.12% | 18.52% | 3.32% | -15.77% | 9.42% | 9.25% | 8.97% | 23.58% | 9.3% | 9.54% | 9.85% | 9.06% | 10.08% | 8.63% | 5.07% | 8.9% | 16.92% | 14.25% | 12.14% | 9.94% | 6.92% |
| Operating Income Growth % | - | 9.02% | 28.77% | -15.26% | 335.18% | 120.11% | -215.62% | 0.44% | 8.4% | -63.24% | 142.12% | -7.59% | -2.66% | 8.68% | -11.87% | 25.5% | 76.42% | -53.29% | -47.25% | 34.51% | 27.52% | 33.07% | 61.71% | - |
| EBITDA | 510.97M | 479.32M | 453.18M | 475.15M | 549.21M | 430.9M | 127.41M | 567.53M | 570.75M | 558.28M | 976.06M | 636.96M | 688.69M | 693.32M | 666.25M | 734.97M | 654.97M | 576.47M | 765.24M | 954.74M | 820.54M | 724.37M | 631.5M | 530.09M |
| EBITDA Margin % | 30.43% | 29.88% | 30.11% | 33.13% | 39.75% | 24.36% | 6.87% | 21.15% | 20.97% | 21.57% | 36.42% | 22.7% | 23.26% | 23.53% | 22.61% | 24.47% | 23.41% | 21.37% | 23.26% | 29.09% | 28.32% | 27.17% | 25.81% | 24.38% |
| EBITDA Growth % | 18.81% | 5.77% | -4.62% | -13.48% | 27.46% | 238.21% | -77.55% | -0.57% | 2.24% | -42.8% | 53.24% | -7.51% | -0.67% | 4.06% | -9.35% | 12.21% | 13.62% | -24.67% | -19.85% | 16.35% | 13.28% | 14.71% | 19.13% | - |
| D&A (Non-Cash Add-back) | 171.38M | 174.95M | 174M | 258.34M | 293.36M | 372.11M | 419.82M | 314.62M | 318.95M | 325.99M | 344.12M | 375.96M | 406.24M | 403.17M | 399.26M | 432.04M | 413.59M | 439.65M | 472.35M | 399.48M | 407.73M | 400.64M | 388.22M | 379.64M |
| EBIT | 77.28M | 296.85M | 268.41M | 214.93M | 255.07M | -45.61M | -297.97M | 130M | 259.32M | 210.05M | 289.91M | 297.32M | 308.37M | 316.72M | 107.58M | 348.95M | 184.63M | -866.73M | 292.89M | 543.43M | 412.81M | 320.24M | 237.46M | 150.44M |
| Net Interest Income | -200.79M | -395.65M | -401.54M | -421.43M | -334.06M | -349M | -360.26M | -419.52M | -387.74M | -310.83M | -324.72M | -294.23M | -293.09M | -298.57M | -310.12M | -196.98M | -219.99M | -154.19M | -161.65M | -157.88M | -162.58M | -198.35M | -159.83M | -159.85M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 393K | 68.87M | 50.31M | 61.44M | 60.18M | 54.21M | 63.76M | 45.46M | 19.46M | 724K | 3.45M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 200.79M | 395.65M | 401.54M | 421.43M | 334.06M | 349M | 360.26M | 419.52M | 388.13M | 379.7M | 374.89M | 355.67M | 353.26M | 352.78M | 373.88M | 242.44M | 239.45M | 154.19M | 165.1M | 157.88M | 162.58M | 198.35M | 159.83M | 159.85M |
| Other Income/Expense | -463.1M | -403.16M | -412.31M | -399.93M | -334.84M | -453.39M | -365.82M | -542.42M | -422.13M | -1.14B | -396.56M | -281.99M | -274.11M | -299.67M | -533.28M | -196.42M | -296.2M | -1.16B | -3.36B | -143.37M | -122.15M | -200.8M | -165.65M | -173.59M |
| Pretax Income | -123.51M | -98.8M | -133.13M | -183.12M | -78.99M | -394.6M | -658.23M | -289.52M | -170.33M | -906.43M | 235.38M | -21.13M | 8.33M | -9.52M | -266.3M | 106.52M | -54.82M | -1.02B | -3.07B | 411.89M | 290.67M | 122.93M | 77.63M | -23.14M |
| Pretax Margin % | -7.36% | -6.16% | -8.84% | -12.77% | -5.72% | -22.31% | -35.49% | -10.79% | -6.26% | -35.01% | 8.78% | -0.75% | 0.28% | -0.32% | -9.04% | 3.55% | -1.96% | -37.87% | -93.38% | 12.55% | 10.03% | 4.61% | 3.17% | -1.06% |
| Income Tax | -18.82M | 4.95M | -9.37M | -23.68M | -89.91M | -36.46M | -58.01M | 72.25M | 32.52M | -280.22M | 77.5M | 50.18M | -8.79M | 14.81M | -107.09M | 43.3M | 21.6M | -149.11M | -220.32M | 146.64M | 122.08M | 45.48M | 62.55M | 11.85M |
| Effective Tax Rate % | 15.24% | -5.01% | 7.03% | 12.93% | 113.83% | 9.24% | 8.81% | -24.96% | -19.09% | 30.91% | 32.93% | -237.46% | -105.46% | -155.61% | 40.21% | 40.65% | -39.4% | 14.6% | 7.17% | 35.6% | 42% | 37% | 80.58% | -51.22% |
| Net Income | -220.28M | -104.65M | -179.25M | -310.92M | -96.6M | -433.81M | -582.74M | -363.3M | -218.24M | -644.35M | 135.07M | -96.07M | -9.59M | -48.46M | -183.11M | 42.95M | -87.52M | -868.19M | -2.85B | 245.99M | 153.07M | 61.57M | -155.38M | -34.99M |
| Net Margin % | -13.12% | -6.52% | -11.91% | -21.68% | -6.99% | -24.53% | -31.42% | -13.54% | -8.02% | -24.89% | 5.04% | -3.42% | -0.32% | -1.64% | -6.21% | 1.43% | -3.13% | -32.18% | -86.68% | 7.5% | 5.28% | 2.31% | -6.35% | -1.61% |
| Net Income Growth % | -1119.26% | 41.62% | 42.35% | -221.85% | 77.73% | 25.56% | -60.4% | -66.47% | 66.13% | -577.05% | 240.59% | -901.79% | 80.21% | 73.54% | -526.38% | 149.07% | 89.92% | 69.55% | -1259.02% | 60.7% | 148.6% | 139.63% | -344.03% | - |
| Net Income (Continuing) | -104.69M | -103.75M | -123.76M | -159.44M | 10.92M | -358.14M | -600.23M | -361.78M | -202.84M | -626.21M | 157.88M | -71.31M | 17.12M | -24.33M | -159.21M | 63.22M | -76.42M | -872.53M | -2.85B | 265.25M | 168.59M | 77.44M | 7.48M | -34.99M |
| Discontinued Operations | -30K | 3.9M | -52.11M | -149.37M | -105.31M | -74.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.2M | 0 |
| Minority Interest | 6.4K | 11.58M | 11.67M | 12.3M | 12.86M | 11.06M | 10.86M | 152.81M | 160.36M | 157.04M | 149.89M | 187.78M | 203.33M | 202.05M | 247.93M | 289.38M | 209.79M | 193.73M | 211.81M | 215.86M | 181.9M | 167.28M | 63.3M | 54.64M |
| EPS (Diluted) | -0.43 | -0.21 | -0.37 | -0.65 | -0.20 | -0.92 | -1.29 | -0.88 | -0.60 | -1.78 | 0.37 | -0.27 | -0.03 | -0.14 | -0.54 | 0.11 | -0.26 | -2.44 | -8.03 | 0.69 | 0.43 | 0.19 | -0.49 | -0.10 |
| EPS Growth % | -381.07% | 43.24% | 43.08% | -225% | 78.26% | 28.68% | -46.59% | -46.67% | 66.29% | -581.08% | 237.04% | -911.24% | 80.93% | 74.07% | -590.91% | 142.31% | 89.34% | 69.61% | -1263.77% | 60.47% | 126.32% | 138.78% | -406.72% | - |
| EPS (Basic) | - | -0.21 | -0.37 | -0.65 | -0.20 | -0.92 | -1.29 | -0.88 | -0.60 | -1.78 | 0.37 | -0.27 | -0.03 | -0.14 | -0.54 | 0.11 | -0.26 | -2.44 | -8.03 | 0.69 | 0.43 | 0.19 | -0.49 | -0.10 |
| Diluted Shares Outstanding | 508.99M | 498.4M | 488.95M | 481.73M | 474.36M | 468.49M | 464.52M | 413.09M | 361.74M | 361.14M | 361.61M | 359.51M | 358.56M | 357.66M | 356.92M | 356.53M | 355.57M | 355.38M | 355.23M | 355.81M | 352.26M | 319.92M | 315M | 362.04M |
| Basic Shares Outstanding | 508.99M | 496.79M | 488.95M | 481.73M | 474.36M | 468.49M | 464.52M | 413.09M | 361.74M | 361.14M | 360.29M | 355.49M | 358.56M | 357.66M | 354.76M | 355.91M | 355.57M | 355.36M | 355.23M | 354.84M | 352.15M | 319.89M | 315M | 362.04M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | 559.37% | - | - | - | - | 1.64% | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CCO stock.
For fiscal year 2025, Clear Channel Outdoor Holdings, Inc. (CCO) reported total revenue of $1.60B. This represents a 26.2% decline compared to $2.17B in 2003.
Clear Channel Outdoor Holdings, Inc. (CCO) reported a net loss of $104.6M for the fiscal year ending 2025.
Clear Channel Outdoor Holdings, Inc. (CCO) reported an operating income of $304.4M, resulting in an operating profit margin of 19.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Clear Channel Outdoor Holdings, Inc. (CCO) generated $681.3M in gross profit for the year, representing a gross profit margin of 42.5%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Debt burden and interest costs
Metrics are mathematically derived from official filings.
Revenue Recovery Moderating
CCO's revenue grew 6.6% year-over-year in 2026Q2, but the pace is decelerating from earlier double-digit rebounds, as per recent financial statements. Growth appears driven by cyclical ad demand, not structural gains.
The 8.7% YoY growth in 2026Q2, while positive, is a slowdown from the 11.9% in 2026Q1, suggesting the post-pandemic recovery is maturing. The Americas segment likely benefits from digital conversions, but Europe's divestitures may temper overall growth. Investors should monitor whether mid-single-digit growth is sustainable as macro ad budgets remain sensitive.
Gross Margin Volatility Persists
Gross margin swung from 40.7% in 2026Q1 to 100% in 2026Q2, reflecting data anomalies, but normalized levels hover near 50%, as reported. This volatility underscores the impact of lease costs and revenue mix.
The 100% gross margin in 2026Q2 is likely a data artifact (COGS reported as zero), but even excluding that, margins have ranged from 40.7% to 55.6% over the past year. This instability suggests limited pricing power against rising lease expenses, especially in urban markets. The shift to digital displays may improve margins, but the pace is uncertain.
Operating Leverage Emerging
Operating margin expanded to 20.3% in 2026Q2 from 15.1% in 2026Q1, as per income statement data, indicating that revenue growth is outpacing SG&A growth. This suggests improving cost discipline, but sustainability is untested.
SG&A as a percentage of revenue declined to 16.0% in 2026Q2 from 17.8% in 2026Q1, while operating income grew 57.7% sequentially. This operating leverage is encouraging, but it may be partly due to seasonal factors. The high fixed-cost structure means any demand softening could reverse these gains quickly.
Net Losses Masked by One-Time Gains
CCO reported a net loss of $5.3M in 2026Q2, despite a $62.5M profit in 2025Q1, as per financial statements. The erratic EPS swings suggest non-operating items and tax effects distort underlying profitability.
The 2025Q1 net income of $62.5M appears anomalous given the company's persistent losses, likely due to a one-time gain or tax benefit. Excluding that, net margins have been consistently negative, driven by high interest expense. Stock-based compensation of $13.8M in 2026Q2 adds to dilution, but the core issue is the debt load.
SG&A Discipline Amidst Debt Drag
SG&A expenses rose only 4.5% YoY in 2026Q2, while revenue grew 8.7%, as per reported figures, indicating cost control. However, interest expense remains a significant burden, likely exceeding $100M annually.
The company's ability to keep SG&A growth below revenue growth is a positive sign, but the cost structure is dominated by lease expenses and interest. With net margin at -1.2% in 2026Q2, the interest burden is the primary obstacle to profitability. Any rate cuts could provide relief, but the timing is uncertain.
2025Q1 Profit Spike Anomaly
The $62.5M net income in 2025Q1 stands out as a clear inflection, but it appears non-recurring, as subsequent quarters returned to losses. This suggests a one-time event, not a sustainable turnaround.
The 18.7% net margin in 2025Q1 is inconsistent with the company's historical performance and likely reflects a tax benefit or asset sale gain. The following quarter's return to a $9.5M profit and then losses indicates the underlying business remains unprofitable. Investors should treat this quarter as an outlier, not a new trend.
Debt Overhang Undermines Recovery
Despite revenue growth and operating margin expansion, CCO's persistent net losses and negative equity suggest the debt burden may offset operational gains, as per financial statements. Interest costs could consume cash flow, limiting reinvestment.
The company's net margin has been negative in most quarters, with 2026Q2 at -1.2%, reflecting high interest expense. Even with operating income of $89.1M, net income remains negative, indicating that interest costs are a major drag. If rates stay high, the company may struggle to generate positive net income, and the market's focus on deleveraging could cap valuation. Additionally, the lack of forward guidance suggests management's uncertainty about near-term visibility, which could be a red flag for sustained growth.