Revenue surged 126.2% YoY to $227.9M in Q2 2026, but TTM net margin is -17.5%, reflecting that the digital-led growth has not yet translated into consistent profitability.
Entravision Communications (EVC) annual income statement — 28-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 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Sales/Revenue | 785.56M | 447.59M | 364.95M | 297.04M | 323.99M | 760.19M | 344.03M | 273.57M | 297.81M | 536.03M | 258.51M | 254.13M | 242.04M | 223.92M | 223.25M | 194.4M | 200.48M | 189.23M | 232.34M | 250.05M | 291.75M | 280.96M | 259.05M | 237.96M | 238.47M | 208.91M | 154.02M | 59M | 44.82M |
| Revenue Growth % | 86.96% | 22.65% | 22.86% | -8.32% | -57.38% | 120.97% | 25.75% | -8.14% | -44.44% | 107.35% | 1.72% | 5% | 8.09% | 0.3% | 14.84% | -3.03% | 5.94% | -18.55% | -7.08% | -14.29% | 3.84% | 8.46% | 8.87% | -0.22% | 14.15% | 35.64% | 161.06% | 31.64% | - |
| Cost of Goods Sold | 484.21M | 353.26M | 238.46M | 190.44M | 179.91M | 582.97M | 211.84M | 156.17M | 170.34M | 163.83M | 122.97M | 117.56M | 110.27M | 103.69M | 92.26M | 88.59M | 84.8M | 83.9M | 100.8M | 99.61M | 123.8M | 120.28M | 112.57M | 106.96M | 113.93M | 100.35M | 56.21M | 24.44M | 15.79M |
| COGS % of Revenue | - | 78.92% | 65.34% | 64.11% | 55.53% | 76.69% | 61.58% | 57.08% | 57.2% | 30.56% | 47.57% | 46.26% | 45.56% | 46.31% | 41.32% | 45.57% | 42.3% | 44.34% | 43.39% | 39.84% | 42.43% | 42.81% | 43.46% | 44.95% | 47.78% | 48.03% | 36.49% | 41.43% | 35.24% |
| Gross Profit | 301.35M | 94.34M | 126.49M | 106.6M | 144.08M | 177.23M | 132.19M | 117.41M | 127.48M | 372.2M | 135.54M | 136.57M | 131.76M | 120.23M | 131M | 105.81M | 115.67M | 105.33M | 131.53M | 150.44M | 167.95M | 160.68M | 146.48M | 131M | 124.54M | 108.56M | 97.81M | 34.56M | 29.03M |
| Gross Margin % | 38.36% | 21.08% | 34.66% | 35.89% | 44.47% | 23.31% | 38.42% | 42.92% | 42.8% | 69.44% | 52.43% | 53.74% | 54.44% | 53.69% | 58.68% | 54.43% | 57.7% | 55.66% | 56.61% | 60.16% | 57.57% | 57.19% | 56.54% | 55.05% | 52.22% | 51.97% | 63.51% | 58.57% | 64.76% |
| Gross Profit Growth % | - | -25.42% | 18.66% | -26.02% | -18.7% | 34.07% | 12.59% | -7.9% | -65.75% | 174.61% | -0.75% | 3.65% | 9.59% | -8.22% | 23.81% | -8.53% | 9.82% | -19.92% | -12.57% | -10.43% | 4.53% | 9.69% | 11.82% | 5.18% | 14.72% | 10.99% | 183.04% | 19.06% | - |
| Operating Expenses | 185.02M | 93.8M | 178.47M | 133.09M | 113.51M | 116.75M | 125.58M | 119.06M | 93.49M | 93.46M | 86.68M | 81.32M | 71.36M | 66.28M | 72.22M | 70.83M | 75.69M | 74.23M | 694.69M | 84.19M | 279.04M | 115.9M | 105.99M | 110.2M | 109.98M | 181.38M | 129.18M | 62.55M | 40.07M |
| OpEx % of Revenue | - | 20.96% | 48.9% | 44.81% | 35.03% | 15.36% | 36.5% | 43.52% | 31.39% | 17.44% | 33.53% | 32% | 29.48% | 29.6% | 32.35% | 36.44% | 37.76% | 39.23% | 299.01% | 33.67% | 95.64% | 41.25% | 40.91% | 46.31% | 46.12% | 86.82% | 83.87% | 106.01% | 89.4% |
| Selling, General & Admin | 73.92M | 66.77M | 106.07M | 49.76M | 46.99M | 56.59M | 76.21M | 82.03M | 78.4M | 77.05M | 71.34M | 65.33M | 56.7M | 51.33M | 55.79M | 52.18M | 56.46M | 53.2M | 60.83M | 61.62M | 70.84M | 69.49M | 66.68M | 65.57M | 68.79M | 61.36M | 57.16M | 11.61M | 8.88M |
| SG&A % of Revenue | - | 14.92% | 29.06% | 16.75% | 14.5% | 7.44% | 22.15% | 29.99% | 26.33% | 14.37% | 27.6% | 25.71% | 23.43% | 22.92% | 24.99% | 26.84% | 28.16% | 28.11% | 26.18% | 24.64% | 24.28% | 24.73% | 25.74% | 27.56% | 28.85% | 29.37% | 37.11% | 19.68% | 19.81% |
| 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 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 27.03M | 72.4M | 83.33M | 66.52M | 60.17M | 49.37M | 37.03M | 15.09M | 262K | 15.34M | 15.99M | 14.66M | 14.95M | 16.43M | 18.65M | 19.23M | 21.03M | 633.87M | 22.57M | 208.19M | 46.41M | 39.31M | 44.63M | 41.19M | 120.02M | 72.02M | 50.93M | 31.19M |
| Operating Income | 85.55M | 542K | -51.98M | -26.5M | 30.58M | 60.47M | 6.61M | -1.65M | 33.58M | 278.39M | 48.86M | 55.24M | 59.67M | 53.95M | 58.78M | 34.97M | 3.87M | -19.55M | -563.16M | 66.25M | -111.08M | 44.78M | 40.49M | 20.8M | 14.56M | -72.82M | -31.37M | -27.99M | 4.75M |
| Operating Margin % | 10.89% | 0.12% | -14.24% | -8.92% | 9.44% | 7.95% | 1.92% | -0.6% | 11.27% | 51.94% | 18.9% | 21.74% | 24.65% | 24.09% | 26.33% | 17.99% | 1.93% | -10.33% | -242.39% | 26.5% | -38.07% | 15.94% | 15.63% | 8.74% | 6.1% | -34.86% | -20.37% | -47.44% | 10.6% |
| Operating Income Growth % | - | 101.04% | -96.18% | -186.65% | -49.43% | 815.12% | 499.76% | -104.92% | -87.94% | 469.82% | -11.56% | -7.41% | 10.6% | -8.21% | 68.06% | 802.76% | 119.82% | 96.53% | -950.01% | 159.64% | -348.08% | 10.59% | 94.71% | 42.86% | 119.99% | -132.15% | -12.08% | -688.95% | - |
| EBITDA | 97.69M | 12.88M | -35.16M | 1.51M | 56.27M | 82.89M | 23.89M | 14.99M | 49.85M | 294.8M | 64.2M | 71.23M | 74.33M | 68.9M | 75.2M | 53.63M | 23.1M | 1.49M | -539.75M | 91.02M | -65.9M | 93.15M | 86.48M | 67.14M | 61.06M | 49.6M | 40.65M | -12.26M | 15.69M |
| EBITDA Margin % | 12.44% | 2.88% | -9.63% | 0.51% | 17.37% | 10.9% | 6.94% | 5.48% | 16.74% | 55% | 24.83% | 28.03% | 30.71% | 30.77% | 33.69% | 27.59% | 11.52% | 0.78% | -232.31% | 36.4% | -22.59% | 33.15% | 33.38% | 28.21% | 25.6% | 23.74% | 26.39% | -20.79% | 35% |
| EBITDA Growth % | 209.91% | 136.64% | -2426.87% | -97.31% | -32.11% | 246.97% | 59.32% | -69.92% | -83.09% | 359.21% | -9.88% | -4.16% | 7.87% | -8.38% | 40.24% | 132.12% | 1455.76% | 100.28% | -693% | 238.12% | -170.75% | 7.71% | 28.81% | 9.96% | 23.09% | 22.03% | 431.46% | -178.18% | - |
| D&A (Non-Cash Add-back) | 12.14M | 12.34M | 16.82M | 28.01M | 25.7M | 22.42M | 17.28M | 16.65M | 16.27M | 16.41M | 15.34M | 15.99M | 14.66M | 14.95M | 16.43M | 18.65M | 19.23M | 21.03M | 23.41M | 24.77M | 45.18M | 48.37M | 45.99M | 46.34M | 46.5M | 122.42M | 72.02M | 15.72M | 10.93M |
| EBIT | 31.5M | -81.28M | -49.71M | -24.7M | 32.81M | 60.93M | 8.38M | 2.36M | 37.16M | 275.33M | 48.99M | 55.09M | 59.47M | 24.32M | 55.12M | 35.24M | 3.15M | -23.8M | -551.45M | 53.36M | -92.22M | 63.68M | 40.52M | 20.8M | 12.71M | -72.82M | -31.37M | -27.99M | -11.04M |
| Net Interest Income | -8.63M | -12.84M | -14.01M | -13.43M | -7.8M | -6.78M | -6.52M | -10.33M | -11.77M | -15.94M | -15.17M | -13M | -13.85M | -24.59M | -35.32M | -37.65M | -24.17M | -27.49M | -41.2M | -44.6M | -27.83M | -28.88M | -27.83M | -26.75M | -24.83M | -20.98M | -63.59M | 0 | -8.24M |
| Interest Income | 2.11M | 2.29M | 2.46M | 3.4M | 2.74M | 245K | 1.75M | 3.35M | 3.97M | 774K | 300K | 45K | 50K | 44K | 86K | 3K | 260K | 459K | 1.89M | 4.81M | 1.6M | 966K | 456K | 145K | 153K | 1.29M | 5.92M | 0 | 0 |
| Interest Expense | 7.02M | 15.12M | 16.47M | 16.83M | 10.54M | 7.02M | 8.27M | 13.68M | 15.74M | 16.71M | 15.47M | 13.05M | 13.9M | 24.63M | 35.41M | 37.65M | 24.43M | 27.95M | 43.09M | 49.41M | 29.43M | 29.85M | 28.28M | 26.89M | 24.98M | 22.27M | 69.51M | 0 | 8.24M |
| Other Income/Expense | -38.23M | -96.94M | -14.21M | -15.04M | -8.31M | -6.56M | -6.49M | -9.9M | -12.16M | -18.98M | -15.33M | -13.21M | -14.1M | -54.26M | -39.06M | -37.38M | -25.16M | -32.2M | -31.39M | -44.6M | -46.69M | -37.95M | -27.86M | -26.75M | -24.76M | -16M | -63.81M | -12.09M | -8.24M |
| Pretax Income | 47.32M | -96.4M | -66.19M | -41.54M | 22.27M | 53.91M | 119K | -11.55M | 21.41M | 259.41M | 33.53M | 42.04M | 45.57M | -312K | 19.71M | -2.41M | -21.28M | -51.75M | -594.55M | 21.66M | -138.91M | -12.07M | 12.66M | -5.95M | -10.98M | -88.82M | -95.17M | -40.08M | -3.49M |
| Pretax Margin % | 6.02% | -21.54% | -18.14% | -13.98% | 6.87% | 7.09% | 0.03% | -4.22% | 7.19% | 48.39% | 12.97% | 16.54% | 18.83% | -0.14% | 8.83% | -1.24% | -10.62% | -27.35% | -255.9% | 8.66% | -47.61% | -4.3% | 4.89% | -2.5% | -4.6% | -42.52% | -61.79% | -67.93% | -7.79% |
| Income Tax | -46K | -18M | 4.11M | -8.39M | 8.87M | 18.68M | 1.51M | 8.16M | 7.88M | 82.81M | 13.12M | 16.41M | 18.44M | 7.43M | 6.11M | 5.79M | -3.38M | 15.68M | -110.7M | -18.05M | -4.46M | -2.34M | 7.04M | 968K | -122K | -23M | -2.93M | -121K | 210K |
| Effective Tax Rate % | -0.1% | 18.67% | -6.2% | 20.2% | 39.83% | 34.65% | 1265.55% | -70.61% | 36.79% | 31.92% | 39.14% | 39.04% | 40.48% | -2383.01% | 31% | -240.25% | 15.86% | -30.3% | 18.62% | -83.33% | 3.21% | 19.36% | 55.63% | -16.26% | 1.11% | 25.89% | 3.08% | 0.3% | -6.01% |
| Net Income | 33.61M | -78.4M | -148.91M | -15.44M | 18.12M | 29.29M | -3.91M | -19.71M | 12.16M | 176.29M | 20.41M | 25.63M | 27.12M | -7.75M | 13.6M | -8.2M | -18.09M | -67.67M | -487.94M | -43.12M | -134.6M | -9.66M | 6.16M | 2.27M | -10.64M | -65.8M | -92.24M | -39.96M | -3.7M |
| Net Margin % | 4.28% | -17.52% | -40.8% | -5.2% | 5.59% | 3.85% | -1.14% | -7.21% | 4.08% | 32.89% | 7.89% | 10.08% | 11.21% | -3.46% | 6.09% | -4.22% | -9.02% | -35.76% | -210.01% | -17.24% | -46.13% | -3.44% | 2.38% | 0.95% | -4.46% | -31.49% | -59.89% | -67.72% | -8.26% |
| Net Income Growth % | 128.65% | 47.35% | -864.62% | -185.2% | -38.14% | 849.16% | 80.16% | -262.09% | -93.1% | 763.97% | -20.37% | -5.52% | 450.1% | -156.96% | 265.87% | 54.66% | 73.27% | 86.13% | -1031.66% | 67.97% | -1293.8% | -256.67% | 171.9% | 121.3% | 83.82% | 28.67% | -130.85% | -979.34% | - |
| Net Income (Continuing) | 33.61M | -78.4M | -70.29M | -33.15M | 13.4M | 35.23M | -1.39M | -19.71M | 13.54M | 175.7M | 20.41M | 25.63M | 27.12M | 133.82M | 13.6M | -8.2M | -17.91M | -49.84M | -524.63M | 39.7M | -134.45M | -9.8M | 5.62M | -6.6M | -11.72M | -65.8M | -92.24M | -39.96M | -3.7M |
| Discontinued Operations | 0 | 0 | -78.62M | 17.71M | 4.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 43.76M | 14.95M | 0 | 33.28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.32 | -0.86 | -1.66 | -0.18 | 0.21 | 0.33 | -0.05 | -0.23 | 0.13 | 1.91 | 0.22 | 0.28 | 0.30 | -0.09 | 0.16 | -0.10 | -0.21 | -0.81 | -5.39 | -0.42 | -1.27 | -0.08 | -0.09 | -0.08 | -0.09 | -0.57 | -0.80 | -0.35 | -0.03 |
| EPS Growth % | 123.85% | 48.19% | -822.22% | -185.71% | -36.36% | 760% | 78.26% | -276.92% | -93.19% | 768.18% | -21.43% | -6.67% | 438.6% | -155.38% | 265.98% | 54.1% | 74.07% | 84.97% | -1183.33% | 66.93% | -1536.6% | 15.56% | -14.88% | 10.51% | 84.32% | 28.75% | -128.57% | -990.34% | - |
| EPS (Basic) | - | -0.86 | -1.66 | -0.18 | 0.21 | 0.34 | -0.05 | -0.23 | 0.14 | 1.95 | 0.23 | 0.29 | 0.31 | -0.09 | 0.16 | -0.10 | -0.21 | -0.81 | -5.39 | -0.42 | -1.27 | -0.08 | -0.09 | -0.08 | -0.09 | -0.57 | -0.80 | -0.35 | -0.03 |
| Diluted Shares Outstanding | 104.45M | 91.14M | 89.88M | 87.9M | 87.77M | 87.91M | 84.23M | 86.22M | 90.33M | 91.89M | 91.3M | 90.3M | 90.94M | 87.4M | 86.31M | 85.05M | 84.49M | 83.97M | 90.56M | 103.02M | 106.08M | 124.48M | 106.11M | 112.61M | 119.11M | 115.22M | 115.29M | 115.29M | 115.29M |
| Basic Shares Outstanding | 92.28M | 91.14M | 89.88M | 87.9M | 85.39M | 85.3M | 84.23M | 85.11M | 89.12M | 90.27M | 89.34M | 87.92M | 88.68M | 87.4M | 85.88M | 85.05M | 84.49M | 83.97M | 90.56M | 102.38M | 106.08M | 124.29M | 105.76M | 112.61M | 119.11M | 115.22M | 115.29M | 115.29M | 115.29M |
| Dividend Payout Ratio | - | - | - | - | 47.13% | 29.12% | - | - | 146.22% | 8.32% | 54.78% | 36.49% | 32.69% | - | 75.83% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying EVC stock.
For fiscal year 2025, Entravision Communications (EVC) reported total revenue of $447.6M. This represents a 898.6% increase compared to $44.8M in 1998.
Entravision Communications (EVC) reported a net loss of $78.4M for the fiscal year ending 2025.
Entravision Communications (EVC) reported an operating income of $0.5M, resulting in an operating profit margin of 0.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Entravision Communications (EVC) generated $94.3M in gross profit for the year, representing a gross profit margin of 21.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Digital margin sustainability and platform risk
Metrics are mathematically derived from official filings.
Digital-Led Revenue Surge
Revenue accelerated sharply to $227.9M in Q2 2026, up 126.2% YoY, driven by digital segment expansion, though the low-margin mix raises sustainability questions.
The 126.2% YoY growth in Q2 2026, following 114.4% in Q1, indicates a dramatic acceleration, likely fueled by digital advertising and programmatic volumes. However, this surge appears concentrated in the low-margin digital reseller business, as gross margin fell to 48.3% from 24.0% in Q1, suggesting a mix shift toward higher-volume, lower-margin revenue. The sustainability of this growth is uncertain, given the cyclicality of political advertising and potential platform partner concentration.
Margin Compression from Digital Mix
Gross margin improved to 48.3% in Q2 2026 from 24.0% in Q1, but the TTM gross margin of 21.1% reflects a heavy digital weighting, compressing profitability versus peers.
The sharp sequential gross margin improvement in Q2 2026 suggests a favorable revenue mix shift, possibly toward higher-margin digital services or retransmission fees. However, the TTM gross margin of 21.1% remains well below broadcasting peers like Gray Media (96.6%) and Nexstar (39.0%), indicating that the digital segment's pass-through nature dilutes overall profitability. This structural margin gap implies that Entravision's earnings power is constrained unless it can scale proprietary ad-tech like Smadex to improve take rates.
Operating Leverage Recovering but Thin
Operating margin swung to 13.1% in Q2 2026 from -0.1% in Q3 2025, but TTM operating margin of 0.12% shows limited fixed-cost absorption, leaving little room for error.
The Q2 2026 operating income of $30.0M on $227.9M revenue demonstrates significant operating leverage, as SG&A remained relatively flat at $19.0M despite the revenue surge. However, the TTM operating margin of 0.12% indicates that over the past year, overhead has consumed nearly all gross profit, reflecting the high fixed costs of the legacy broadcast segments and integration costs from digital acquisitions. This suggests that the company's profitability is highly sensitive to revenue fluctuations, and any slowdown could quickly erode operating income.
Net Losses Cloud Earnings Quality
Despite Q2 2026 net income of $19.7M, the TTM net margin is -17.5%, with prior quarters showing large losses, suggesting impairments and non-operating charges distorting earnings.
The TTM net loss of -17.5% is heavily influenced by significant one-time charges, such as the -$52.8M operating loss in Q1 2025 and -$48.6M in Q4 2024, likely due to impairments of broadcast licenses or goodwill. These non-cash charges obscure the underlying operational performance, as evidenced by the positive operating income in recent quarters. Investors should adjust for these items to assess normalized earnings power, but the recurring nature of such impairments raises concerns about the carrying value of intangible assets.
COGS Dominates Cost Structure
COGS as a percentage of revenue fell to 51.7% in Q2 2026 from 76.0% in Q1, but TTM COGS of 78.9% reflects the high pass-through costs of digital reselling.
The cost structure is bifurcated: the digital segment incurs high variable costs for third-party media, while broadcast segments carry fixed costs like tower maintenance and programming. The TTM COGS ratio of 78.9% indicates that the majority of revenue is consumed by direct costs, leaving a thin gross profit to cover SG&A and other expenses. Management's expense discipline appears focused on controlling SG&A, which has remained relatively stable around $15-19M per quarter, but the high COGS is a structural challenge that limits margin expansion.
Digital Growth May Not Be Profitable
The 126% revenue surge in Q2 2026 may mask unsustainable digital margins, as TTM gross margin of 21.1% and net loss of -17.5% suggest the growth is not translating to profitability.
Short-sellers could argue that the revenue acceleration is driven by low-margin, pass-through digital advertising that fails to generate adequate returns, as evidenced by the TTM net loss and thin operating margins. The reliance on platform partners like Meta or Google poses a significant risk; if these partners alter their reseller programs, a large portion of revenue could disappear. Additionally, the elevated leverage (debt/equity of 3.85) and negative ROE of -77.8% indicate that the company is not generating sufficient returns to cover its cost of capital, making the current growth trajectory potentially value-destructive.