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LAMRLamar Advertising Company
$144.22$14.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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LAMR logo

Lamar Advertising Company

LAMR
NASDAQ · Specialty REITs
$144.22
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$14.63B
P/E25.0x
52W High$166.33
Volume437K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Digital Growth Offsets Elevated Leverage Risks

Lamar Advertising's Q2 2026 results demonstrate resilient revenue growth of 6.5% year-over-year to $616.7M, driven by digital billboard conversions and stable same-store performance. However, the company's elevated leverage (D/E of 4.93) and thin cash position...

GrowthMixed
ProfitabilityStable
ValuationReview
TechnicalsMixed
Explore valuation models
MARKET ACTION

LAMR price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

4/12 Beats

EPS beat 4 of last 12 quarters

02

Valuation risk

-20% Peers

P/E is 20% below peer median

03

Market leadership

RS 54 · Avg

Average momentum (RS Rating: 54)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystEstimated earnings · Nov 6
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue grew 6.5% to $616.7M in Q2 2026, but FFO per share growth of 5.5% lagged, and NOI margin swung from 67.8% to 100% due to non-cash adjustments.

Analyst Consensus+11.3% target
Buy(20 analysts)
10 Buy8 Hold2 Sell

The Bull Case

Upside Catalysts

Financial Performance and Growth

Lamar Advertising has demonstrated robust financial performance, with notable increases in revenue and net income. In 2025, revenue was $2.27 billion, a 2.45% increase from the previous year, and earnings saw a significant jump of 62.32%. The company's net margin has improved to 25.9% from 16.3% a year earlier, challenging bearish views on profitability.

Digital Transformation

The company's focus on digital advertising is expected to drive future growth, capitalizing on the increasing demand for dynamic and high-impact ad solutions. Expansion of its digital billboard portfolio, with a projected addition of 325-350 new digital units in the current year, is a key driver for revenue growth and margin expansion through premium inventory and dynamic pricing.

Market Position and Strategy

Lamar operates as one of the largest outdoor advertising companies in North America, with an extensive network of over 360,000 displays. Its strong market positioning, regulatory barriers, and focus on acquisitions of digital and strategic assets are expected to drive future gains.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
LAMR+20.10%
S&P 500 (^GSPC)+12.39%
1-Year Return
LAMR+21.35%
S&P 500 (^GSPC)+15.77%
3-Year Return
LAMR+91.24%
S&P 500 (^GSPC)+75.14%
5-Year Return
LAMR+46.08%
S&P 500 (^GSPC)+70.66%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
25.0x
Forward P/EExpansion
24.4x
EV/EBITDA80th %ile
20.3x
FCF YieldCash Flow
5.0%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
25.0x
21.9x
60th· Fair
EV/EBITDA
20.3x
17.1x
80th· High
Price/FCF
19.9x
16.7x
80th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$120.15-16.7%
Base (Fair)$162.53+10.7%
Bull$205.50+42.5%
$120.15 Bear$162.53 Base$205.50 Bull
Current Market Price: $144.22
Trades at a 11.3% discount to Base DCF ($162.53)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$2.27B+2.7% YoY
Net income
$587M+62.3% YoY
Free cash flow
$736M-1.6% YoY
Operating margin
30.8%+6.7 pts YoY
ROIC (TTM)8.2%
Avg ROIC 5Y-
ROE (TTM)56.7%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate4/12 (33%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$1.58+0.0%
vs $1.58
$617M+1.7%
vs $607M
Q2 2026
May 7, 2026
$1.00+21.4%
vs $0.82
$528M+1.0%
vs $523M
Q1 2026
Feb 20, 2026
$1.51-4.4%
vs $1.58
$596M+0.6%
vs $593M
Q4 2025
Nov 6, 2025
$1.40-9.7%
vs $1.55
$586M+0.4%
vs $583M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·4d ago
The REIT Conundrum

REITs have evolved into a larger, more diversified, and better-capitalized asset class, now less sensitive to Treasury yields than in prior cycles. Modern REITs feature lower leverage (34.4% debt), predominantly fixed-rate, long-maturity debt, and strong liquidity, supporting resilience amid higher rates. Supply constraints and rising replacement costs create durable moats for select REIT sectors, especially those with HALO (Heavy Assets, Low Obsolescence) characteristics.

Defense World·Sep 14, 2026
VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Shares in Lamar Advertising Company $LAMR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Lamar Advertising Company (NASDAQ: LAMR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,700 shares of the real estate investment trust's stock, valued at approximately $889,000. Other institutional investors also recently

Seeking Alpha·Sep 13, 2026
Dividend Announcements: August 29 - September 4, 2026

In this article series, I summarize dividend announcements of the past week. This week, 5 stocks announced dividend increases, one announced a cut, and one announced a special. BRC and PECO are the only Investment Grade stocks among this week's dividend announcers, both trading near fair value with robust safety profiles. CPB's 35.90% dividend cut signals severe safety deterioration, while VICI and LAMR present high yields but carry notable safety and growth concerns.

247 Wallst·Sep 10, 2026
The Portfolio You Need to Generate $500 a Month in Dividend Income

Generating $500 a month from dividends sounds straightforward until you see how wildly the required capital swings depending on which stocks you pick and which trade-offs you are willing to accept.

Filtered for Lamar Advertising CompanyMore Headlines
04

Compare before deciding

Benchmark LAMR against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Lamar Advertising Company (LAMR)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
LAMR logoLAMRLamar Advertising CompanyCurrent
$144.22$14.63B24.992.68%25.91%56.65%4.47%
CCO logoCCOClear Channel Outdoor Holdings, Inc.
$2.35$1.2B-11.196.57%-13.12%——
OUT logoOUTOutfront Media Inc.
$28.21$4.97B32.430.04%12.66%34.66%—
IPG logoIPGThe Interpublic Group of Companies, Inc.
$24.57$8.93B13.43-1.81%5.4%14.61%—
OMC logoOMCOmnicom Group Inc.
$75.49$20.71B-279.5910.09%1.75%4.06%—
WPP logoWPPWPP plc
$25.12$5.42B-18.97-8.08%0.51%4.45%—

Compare LAMR vs Peers

Lamar Advertising Company (LAMR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CCO

Most directly comparable listed peer for LAMR.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare LAMR against a more recognizable public peer.

Peer Set

Compare Top 5

vs CCO, OUT, IPG, OMC

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

LAMR SEC Filings & Documents

Lamar Advertising Company (LAMR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

May 19, 2026·SEC

Material company update

May 14, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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LAMR Frequently Asked Questions

Lamar Advertising Company (LAMR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Lamar Advertising Company's revenue?

Lamar Advertising Company (LAMR) reported $2.33B in revenue for fiscal year 2025. This represents a 8390% increase from $27.4M in 1996.

How fast is Lamar Advertising Company growing?

Lamar Advertising Company (LAMR) grew revenue by 2.7% over the past year. Growth has been modest.

Is LAMR profitable?

Yes, Lamar Advertising Company (LAMR) is profitable, generating $556.1M in net income for fiscal year 2025 (25.9% net margin).

Dividend & Returns
Does LAMR pay dividends?

Yes, Lamar Advertising Company (LAMR) pays a dividend with a yield of 4.47%. This makes it attractive for income-focused investors.

What is LAMR's return on equity?

Lamar Advertising Company (LAMR) has a return on equity (ROE) of 56.7%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics
What is Lamar Advertising Company's FFO?

Lamar Advertising Company (LAMR) generated Funds From Operations (FFO) of $892.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is LAMR a good dividend stock?

Lamar Advertising Company (LAMR) offers a 4.47% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in LAMR back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →