Upside case
Bull case
$162+8.2%
LAMR would need investors to value it at roughly 27x earnings — about 2x more generous than today's 25x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Lamar Advertising Company (LAMR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
20
analysts
11 bullish · 2 bearish · 20 covering LAMR
Strong Buy
0
Buy
11
Hold
7
Sell
2
Strong Sell
0
Consensus Target
$155
+3.6% vs today
Scenario Range
$77 – $162
Model bear to bull value window
Coverage
20
Published analyst ratings
Valuation Context
25.3x
Forward P/E · Market cap $15.2B
LAMR price targets
Three scenarios for where LAMR stock could go
Current
~$150
Confidence
49 / 100
Updated
Jun 18, 2026
Where we are now
Current · $150
Bear
$77
Base
$123
Bull
$162
Market caseClosest to today
Base case
$123-17.9%
At 21x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$77-48.3%
If investor confidence fades or macro conditions deteriorate, a 12x multiple contraction could push LAMR down roughly 48% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Lamar Advertising Company
LAMR · NASDAQReal EstateREIT - SpecialtyDecember year-end
Lamar Advertising is one of North America's largest outdoor advertising companies, operating a vast network of billboards, transit displays, and airport advertising formats. It generates revenue primarily through advertising sales on its physical and digital displays — with digital billboards representing a growing segment of its portfolio — by charging advertisers for space based on location, visibility, and duration. The company's key advantage is its extensive, strategically located real estate portfolio — particularly along highways and in high-traffic urban areas — which creates significant barriers to entry for competitors.
Market Cap
$15.2B
Revenue TTM
$2.3B
Net Income TTM
$550M
Net Margin
24.0%
LAMR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+11.2%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$2.22/$2.15
Revenue
$579M/$584M
Q4 2025
EPS
$2.20/$2.14
Revenue
$586M/$592M
Q1 2026
EPS
$2.24/$1.58
Revenue
$596M/$593M
Q2 2026
EPS
$1.00/$0.82
Revenue
$528M/$523M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $2.22/$2.15 | +3.3% | $579M/$584M | -0.8% |
| Q4 2025 | $2.20/$2.14 | +2.8% | $586M/$592M | -1.1% |
| Q1 2026 | $2.24/$1.58 | +41.8% | $596M/$593M | +0.6% |
| Q2 2026 | $1.00/$0.82 | +21.4% | $528M/$523M | +1.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$2.4B
+6.1% YoY
FY2
$2.6B
+5.0% YoY
EPS Outlook
FY1
$7.66
-0.9% YoY
FY2
$7.68
+0.3% YoY
Trailing FCF (TTM)$736M
FCF Margin: 32.2%
Next Earnings
August 14, 2026
Expected EPS
$1.58
Expected Revenue
$607M
LAMR beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
LAMR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $252M
Product Mix
Latest annual revenue by segment or product family
Other Operating Segment
100.0%
+0.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Non Us
100.0%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Other Operating Segment is the largest disclosed segment at 100.0% of FY 2025 revenue, up 0.6% YoY.
Non Us is the largest reported region at 100.0%, with no year-over-year comparison yet.
LAMR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Slightly expensive versus peers
Fair value est. $132 — implies -11.5% from today's price.
Premium to Fair Value
11.5%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
LAMR
25.9x
vs
S&P 500
24.4x
+6% premium
vs Real Estate Trailing P/E
LAMR
25.9x
vs
Real Estate
24.1x
+8% premium
vs LAMR 5Y Avg P/E
Today
25.9x
vs
5Y Average
26.4x
In line with benchmark
Forward PE
25.3x
S&P 500
18.8x
+35%
Real Estate
25.1x
+1%
5Y Avg
—
—
Trailing PE
25.9x
S&P 500
24.4x
+6%
Real Estate
24.1x
+8%
5Y Avg
26.4x
-2%
PEG Ratio
1.36x
S&P 500
1.66x
-18%
Real Estate
1.34x
+1%
5Y Avg
—
—
EV/EBITDA
20.8x
S&P 500
15.2x
+37%
Real Estate
17.0x
+23%
5Y Avg
17.5x
+19%
Price/FCF
20.6x
S&P 500
20.7x
-0%
Real Estate
15.4x
+34%
5Y Avg
17.6x
+17%
Price/Sales
6.7x
S&P 500
3.1x
+117%
Real Estate
3.0x
+123%
5Y Avg
5.6x
+19%
Dividend Yield
4.31%
S&P 500
1.91%
+126%
Real Estate
4.62%
-7%
5Y Avg
4.61%
-6%
| Metric | LAMR | S&P 500 | Real Estate | 5Y Avg LAMR |
|---|---|---|---|---|
| Forward PE | 25.3x | 18.8x+35% | 25.1x | — |
| Trailing PE | 25.9x | 24.4x | 24.1x | 26.4x |
| PEG Ratio | 1.36x | 1.66x-18% | 1.34x | — |
| EV/EBITDA | 20.8x | 15.2x+37% | 17.0x+23% | 17.5x+19% |
| Price/FCF | 20.6x | 20.7x | 15.4x+34% | 17.6x+17% |
| Price/Sales | 6.7x | 3.1x+117% | 3.0x+123% | 5.6x+19% |
| Dividend Yield | 4.31% | 1.91% | 4.62% | 4.61% |
LAMR trades above S&P 500 benchmarks on 3 of 6 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolLAMR Financial Health
Verdict
Exceptional
LAMR pays 5.4% total shareholder yield with 28.0% operating margin. Leverage is structural for REITs — debt capacity matters more than absolute ratio.
Property Operations
Revenue, margins, and distribution coverage
Revenue (TTM)
Trailing-twelve-month sales base
$2.3B
Revenue Growth
TTM vs prior year
+3.4%
Gross Margin
Gross profit as a share of revenue
31.5%
Operating Margin
Operating income divided by revenue
28.0%
Net Margin
Net income divided by revenue
24.0%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$5.42
Operating Margin
NOI-equivalent margin — key for REIT property economics
28.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
8.2%
ROA
Return on assets, trailing twelve months
8.0%
Cash & Equivalents
Liquid assets on the balance sheet
$65M
Net Debt
Total debt minus cash
$6.1B
Leverage (Net Debt / FCF)
REITs carry structural leverage — higher ratios are expected
8.3× FCF
Asset-heavy model means debt/FCF above 10× is common and not a distress signal.
ROE *
Return on equity, trailing twelve months
55.5%
* Elevated by buyback-compressed equity — compare ROIC (8.2%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
5.4%
Dividend
4.3%
Buyback
1.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$158M
Dividend / Share
Annualized trailing dividend per share
$6.46
Payout Ratio
Share of earnings distributed as dividends
111.8%
Shares Outstanding
Declining as buybacks retire shares
101M
All figures from the trailing twelve months. REITs carry structural leverage — debt/FCF ratios above 10× are normal and do not indicate distress.
Open full ratios pageLAMR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Regulatory Environment
Lamar Advertising operates in a heavily regulated industry, with regulations at federal, state, and local levels that can significantly impact operations and profitability. Changes in these regulations could lead to increased compliance costs or restrictions on advertising practices.
High Risk
Economic Conditions
The company's performance is closely tied to economic conditions and financial markets, which directly influence advertising demand. A downturn in the economy could lead to reduced advertising budgets from clients, adversely affecting revenue.
High Risk
Indebtedness
Lamar Advertising carries significant indebtedness, which poses a financial risk, especially in a rising interest rate environment. High debt levels can limit financial flexibility and increase vulnerability to economic downturns.
Medium
Contract Renewals
The ability to renew expiring contracts at favorable rates is crucial for maintaining revenue streams. Failure to secure renewals could lead to revenue declines and impact overall financial performance.
Medium
Digital Deployment Strategy
The successful implementation of its digital advertising strategy is essential for growth. Any setbacks in this area could hinder the company's ability to compete effectively in the evolving advertising landscape.
Medium
Advertiser Demand
Uneven advertiser demand and potential contract losses can significantly affect revenue. Fluctuations in demand may arise from economic conditions or changes in client strategies, impacting overall performance.
Lower
Funding
The need for and ability to obtain additional funding are important considerations for Lamar Advertising. Limited access to capital could restrict growth initiatives and operational flexibility.
Lower
REIT Qualification
Maintaining its Real Estate Investment Trust (REIT) qualification is essential for tax advantages. Any changes in regulations or operational practices that jeopardize this status could have financial implications.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why LAMR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
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.
Capital Allocation and Shareholder Returns
The company has announced expanded share buybacks and has a solid dividend yield, making it an attractive option for income-growth investors. Its underleveraged balance sheet provides significant capacity for mergers and acquisitions (M&A).
Analyst Sentiment
The consensus rating among Wall Street analysts is generally positive, with a 'Moderate Buy' or 'Buy' rating. Some analysts see shares positioned for a 10%-15% total return potential into 2026.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
LAMR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$149.65
52W Range Position
80%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$113.66
+31.7% from the low
52-Week High
$158.69
-5.7% from the high
1 Month
+1.46%
3 Month
+14.67%
YTD
+20.6%
1 Year
+24.9%
3Y CAGR
+16.4%
5Y CAGR
+8.1%
10Y CAGR
+8.9%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
LAMR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
25.3x
vs 7.5x median
+239% above peer median
Revenue Growth
+6.1%
vs +2.7% median
+124% above peer median
Net Margin
24.0%
vs 2.0% median
+1093% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
LAM LAMR Lamar Advertising Company | $15.2B | 25.3x | +6.1% | 24.0% | Buy | +3.6% |
CCO CCO Clear Channel Outdoor Holdings, Inc. | $1.2B | — | +2.4% | -12.5% | Hold | +3.7% |
OUT OUT Outfront Media Inc. | $5.5B | 23.4x | +2.7% | 10.0% | Buy | +20.3% |
IPG IPG The Interpublic Group of Companies, Inc. | $8.9B | 7.8x | +1.9% | 5.4% | Hold | +48.8% |
OMC OMC Omnicom Group Inc. | $22.1B | 6.8x | +13.0% | 0.3% | Hold | +49.0% |
WPP WPP WPP plc | $3.9B | 7.1x | +3.4% | 2.0% | Hold | — |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
LAMR Dividend and Capital Return
LAMR returns 5.4% total yield, led by a 4.31% dividend. Buybacks add another 1.0%.
Dividend SustainableFCF Stretched
Total Shareholder Yield
5.4%
Dividend + buyback return per year
Buyback Yield
1.0%
Dividend Yield
4.31%
Payout Ratio
1.1%
How LAMR Splits Its Return
Div 4.31%
Dividend 4.31%Buybacks 1.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$6.46
Growth Streak
Consecutive years of dividend increases
4Y
3Y Div CAGR
8.9%
5Y Div CAGR
20.9%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$158M
Estimated Shares Retired
1M
Approx. Share Reduction
1.0%
Shares Outstanding
Current diluted share count from the screening snapshot
101M
At 1.0%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $3.20 | — | — | — |
| 2025 | $6.45 | +14.2% | 1.2% | 6.3% |
| 2024 | $5.65 | +13.0% | 0.0% | 4.7% |
| 2023 | $5.00 | 0.0% | 0.1% | 4.8% |
| 2022 | $5.00 | +25.0% | 0.1% | 5.4% |
FAQ
7 questionsLAMR Investor Questions
Common questions answered from live analyst data and company financials.
01Is Lamar Advertising Company (LAMR) stock a buy or sell in 2026?
Lamar Advertising Company (LAMR) is rated Buy by Wall Street analysts as of 2026. Of 20 analysts covering the stock, 11 rate it Buy or Strong Buy, 7 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $155, implying +3.6% from the current price of $150. The bear case scenario is $77 and the bull case is $162.
02What is the LAMR stock price target for 2026?
The Wall Street consensus price target for LAMR is $155 based on 20 analyst estimates. The high-end target is $160 (+6.9% from today), and the low-end target is $150 (+0.2%). The base case model target is $123.
03Is Lamar Advertising Company (LAMR) stock overvalued in 2026?
LAMR trades at 25.3x times forward earnings. The stock's valuation is broadly in line with the broader market. Based on current multiples versus the peer group, the relative model signals slightly expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Lamar Advertising Company (LAMR) stock in 2026?
The primary risks for LAMR in 2026 are: (1) Regulatory Environment — Lamar Advertising operates in a heavily regulated industry, with regulations at federal, state, and local levels that can significantly impact operations and profitability. (2) Economic Conditions — The company's performance is closely tied to economic conditions and financial markets, which directly influence advertising demand. (3) Indebtedness — Lamar Advertising carries significant indebtedness, which poses a financial risk, especially in a rising interest rate environment. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Lamar Advertising Company's revenue and earnings forecast?
Analyst consensus estimates LAMR will report consensus revenue of $2.4B (+6.1% year-over-year) and EPS of $7.66 (-0.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $2.6B in revenue.
06When does Lamar Advertising Company (LAMR) report its next earnings?
Lamar Advertising Company is expected to report its next earnings on approximately 2026-08-14. Consensus expects EPS of $1.58 and revenue of $607M. Over recent quarters, LAMR has beaten EPS estimates 83% of the time.
07How much free cash flow does Lamar Advertising Company generate?
Lamar Advertising Company (LAMR) generated $736M in free cash flow over the trailing twelve months — a free cash flow margin of 32.2%. LAMR returns capital to shareholders through dividends (4.3% yield) and share repurchases ($158M TTM).