Newsmax, Inc. (NMAX) 10-Year Financial Performance & Capital Metrics

NMAX • • Industrial / General

Communication ServicesBroadcastingTelevision BroadcastingSpecialty TV Networks

AboutNewsmax Inc., through its subsidiaries, operates as television broadcaster and multi-platform content publisher. It operates in two segments broadcasting and digital. The company produces and licenses news, business news, and lifestyle content comprising Newsmax and Newsmax2 that offers 24/7 television news and informational programming channel. It also provides online advertising, including online display, email advertising, other online placements, print advertisements, subscriptions, including our collection of specialized health and financial newsletters, Newsmax Magazine and four online membership programs, and (3) e-commerce, primarily through our subsidiaries that sell nutraceuticals and nonfiction books on political, financial and health-related topics. The company was founded in 1998 and is based in Boca Raton, Florida. Newsmax Inc. operates as a subsidiary of Christopher Ruddy Revocable TrustShow more

Revenue $171M +26.4%
EBITDA -$64M -53.6%
Net Income -$72M -72.8%
EPS (Diluted) -0.62 -67.6%
Gross Margin 49.15% +19.1%
EBITDA Margin -37.21% -21.5%
Operating Margin -40.82% -22.5%
Net Margin -42.2% -36.7%
ROE -
ROIC -2.58% +99.5%
Debt/Equity -
Interest Coverage -762.60 +33.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 7 (bottom 7%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM11.76%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-60.56%

EPS CAGR

10Y-

5Y-

3Y-

TTM17.04%

ROCE

10Y Avg-184.82%

5Y Avg-184.82%

3Y Avg-184.82%

Latest-323.28%

Peer Comparison

Specialty TV Networks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
NMAXNewsmax, Inc.	699.34M	7.78	-12.55	26.42%	-57.42%	-98.95%
QVCDQVC, Inc. 6.375% Senior Secured		8.80		-4.78%	-40.5%	-275.3%	1.31
QVCCQVC, Inc. 6.250% Senior Secured		8.65		-4.78%	-39.74%	-270.12%	1.31

Profit & Loss

	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	135.31M	135.28M	171.02M
Revenue Growth %	-	-0%	0.26%
Cost of Goods Sold+	78.94M	79.46M	86.97M
COGS % of Revenue	0.58%	0.59%	0.51%
Gross Profit+	56.37M	55.82M	84.05M
Gross Margin %	0.42%	0.41%	0.49%
Gross Profit Growth %	-	-0.01%	0.51%
Operating Expenses+	75.85M	100.92M	153.86M
OpEx % of Revenue	0.56%	0.75%	0.9%
Selling, General & Admin	75.85M	73.82M	150.74M
SG&A % of Revenue	0.56%	0.55%	0.88%
Research & Development	0	0	0
R&D % of Revenue	-	-	-
Other Operating Expenses	0	27.09M	3.12M
Operating Income+	-19.47M	-45.1M	-69.81M
Operating Margin %	-0.14%	-0.33%	-0.41%
Operating Income Growth %	-	-1.32%	-0.55%
EBITDA+	-16.91M	-41.42M	-63.64M
EBITDA Margin %	-0.12%	-0.31%	-0.37%
EBITDA Growth %	-	-1.45%	-0.54%
D&A (Non-Cash Add-back)	2.56M	3.67M	6.17M
EBIT	-19.9M	-41.72M	-72.08M
Net Interest Income+	281.37K	104.3K	488.96K
Interest Income	281.37K	143.76K	580.5K
Interest Expense	0	39.46K	91.54K
Other Income/Expense	-442.89K	3.34M	-2.36M
Pretax Income+	-19.92M	-41.76M	-72.17M
Pretax Margin %	-0.15%	-0.31%	-0.42%
Income Tax+	19.21K	18.55K	0
Effective Tax Rate %	1%	1%	1%
Net Income+	-19.94M	-41.78M	-72.17M
Net Margin %	-0.15%	-0.31%	-0.42%
Net Income Growth %	-	-1.1%	-0.73%
Net Income (Continuing)	-19.94M	-41.78M	-72.17M
Discontinued Operations	0	0	0
Minority Interest	0	0	0
EPS (Diluted)+	-0.31	-0.37	-0.62
EPS Growth %	-	-0.19%	-0.68%
EPS (Basic)	-0.31	-0.37	-0.62
Diluted Shares Outstanding	82.13M	128.41M	128.41M
Basic Shares Outstanding	63.65M	128.41M	128.41M
Dividend Payout Ratio	-	-	-

Balance Sheet

	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	42.47M	35.42M	118.29M
Cash & Short-Term Investments	11.44M	7.26M	82.36M
Cash Only	4.05M	6.04M	24.05M
Short-Term Investments	7.39M	1.22M	58.31M
Accounts Receivable	18.74M	21.97M	28.27M
Days Sales Outstanding	50.54	59.28	60.33
Inventory	3.83M	3.83M	1.79M
Days Inventory Outstanding	17.73	17.62	7.52
Other Current Assets	0	1.63M	5.69M
Total Non-Current Assets+	24.4M	36.19M	27.78M
Property, Plant & Equipment	23.61M	18.6M	13.42M
Fixed Asset Turnover	5.73x	7.27x	12.75x
Goodwill	0	0	0
Intangible Assets	0	0	0
Long-Term Investments	0	0	0
Other Non-Current Assets	790.88K	17.6M	14.36M
Total Assets+	66.87M	71.61M	146.07M
Asset Turnover	2.02x	1.89x	1.17x
Asset Growth %	-	0.07%	1.04%
Total Current Liabilities+	34.11M	51.85M	122.65M
Accounts Payable	15.04M	19.61M	14.67M
Days Payables Outstanding	69.54	90.07	61.57
Short-Term Debt	0	500K	4.09B
Deferred Revenue (Current)	0	1000K	1000K
Other Current Liabilities	10.93M	7.28M	-4.02B
Current Ratio	1.24x	0.68x	0.96x
Quick Ratio	1.13x	0.61x	0.95x
Cash Conversion Cycle	-1.27	-13.17	6.28
Total Non-Current Liabilities+	14.66M	43.35M	32.49M
Long-Term Debt	0	0	0
Capital Lease Obligations	11.44M	8.07M	4.18M
Deferred Tax Liabilities	0	0	0
Other Non-Current Liabilities	3.22M	32.16M	25.48M
Total Liabilities	48.77M	95.19M	155.14M
Total Debt+	14.98M	12.41M	4.1B
Net Debt	10.93M	6.37M	4.08B
Debt / Equity	0.83x	-	-
Debt / EBITDA	-	-	-
Net Debt / EBITDA	-	-	-
Interest Coverage	-	-1142.78x	-762.60x
Total Equity+	18.1M	-23.58M	-9.07M
Equity Growth %	-	-2.3%	0.62%
Book Value per Share	0.22	-0.18	-0.07
Total Shareholders' Equity	18.1M	-23.58M	-9.07M
Common Stock	10	10	10
Retained Earnings	-108.71M	-153.04M	-227.77M
Treasury Stock	-14.62M	-14.62M	-14.62M
Accumulated OCI	-93.68K	0	-52.85K
Minority Interest	0	0	0

Cash Flow

	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-7.32M	-3.83M	-48.69M
Operating CF Margin %	-0.05%	-0.03%	-0.28%
Operating CF Growth %	-	0.48%	-11.71%
Net Income	-19.94M	-41.78M	-72.17M
Depreciation & Amortization	2.56M	3.67M	6.17M
Stock-Based Compensation	0	0	0
Deferred Taxes	0	0	0
Other Non-Cash Items	3.01M	29.73M	12.88M
Working Capital Changes	7.05M	4.55M	4.43M
Change in Receivables	3.13M	-5.79M	-6.55M
Change in Inventory	-1.3M	-873	2.04M
Change in Payables	6.82M	4.5M	-5.09M
Cash from Investing+	-5.6M	5.4M	-58.43M
Capital Expenditures	-5.88M	-916.99K	-996.29K
CapEx % of Revenue	0.04%	0.01%	0.01%
Acquisitions	-	-	-
Investments	-	-	-
Other Investing	0	0	0
Cash from Financing+	0	427.44K	125.13M
Debt Issued (Net)	-	-	-
Equity Issued (Net)	-	-	-
Dividends Paid	0	0	0
Share Repurchases	-	-	-
Other Financing	0	0	0
Net Change in Cash	-	-	-
Free Cash Flow+	-13.2M	-4.75M	-49.68M
FCF Margin %	-0.1%	-0.04%	-0.29%
FCF Growth %	-	0.64%	-9.46%
FCF per Share	-0.16	-0.04	-0.39
FCF Conversion (FCF/Net Income)	0.37x	0.09x	0.67x
Interest Paid	0	24.96K	42.3K
Taxes Paid	0	0	0

Key Ratios

Metric	2022	2023	2024
Return on Equity (ROE)	-110.15%	-	-
Return on Invested Capital (ROIC)	-50.31%	-572.61%	-2.58%
Gross Margin	41.66%	41.26%	49.15%
Net Margin	-14.73%	-30.88%	-42.2%
Debt / Equity	0.83x	-	-
Interest Coverage	-	-1142.78x	-762.60x
FCF Conversion	0.37x	0.09x	0.67x
Revenue Growth	-	-0.03%	26.42%

Frequently Asked Questions

Growth & Financials

Newsmax, Inc. (NMAX) reported $182.6M in revenue for fiscal year 2024. This represents a 35% increase from $135.3M in 2022.

Newsmax, Inc. (NMAX) grew revenue by 26.4% over the past year. This is strong growth.

Newsmax, Inc. (NMAX) reported a net loss of $104.9M for fiscal year 2024.

Dividend & Returns

Newsmax, Inc. (NMAX) had negative free cash flow of $89.9M in fiscal year 2024, likely due to heavy capital investments.

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