The balance sheet is highly leveraged with debt-to-equity at 5.75x and total debt of $4.1B against equity of $693M, while cash reserves are thin at $31.2M, suggesting elevated refinancing risk.
Outfront Media Inc. (OUT) balance sheet — 15-year assets, liabilities & shareholders' equity 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 |
|---|
| Total Assets | 5.27B | 5.31B | 5.22B | 5.58B | 5.99B | 5.92B | 5.9B | 5.38B | 3.83B | 3.81B | 3.74B | 3.85B | 4.02B | 3.36B | 3.46B | 3.6B |
| Asset Growth % | 6.4% | 1.85% | -6.59% | -6.8% | 1.1% | 0.47% | 9.56% | 40.58% | 0.54% | 1.86% | -2.77% | -4.43% | 19.91% | -3.16% | -3.83% | - |
| Real Estate & Other Assets | 32.3M | 53.3M | 9.7M | 233.8M | 39.1M | 41.5M | 241.4M | 189.3M | 68.8M | 61.2M | 60.6M | 81.7M | 98M | 52.8M | 44.8M | 49.4M |
| PP&E (Net) | 2.22B | 1.52B | 2.15B | 2.25B | 2.63B | 2.41B | 2.06B | 2.12B | 652.9M | 662.1M | 665M | 701.7M | 782.9M | 755.4M | 807.9M | 858.2M |
| Investment Securities | 0 | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 0 |
| Total Current Assets | 415.3M | 465.6M | 385.8M | 397.6M | 390.4M | 777.3M | 974.7M | 435.8M | 429.5M | 376M | 378.2M | 416.6M | 355.3M | 317.2M | 315M | 343.5M |
| Cash & Equivalents | 31.2M | 99.9M | 46.9M | 36M | 40.4M | 424.8M | 710.4M | 59.1M | 52.7M | 48.3M | 65.2M | 101.6M | 28.5M | 29.8M | 20.2M | 37.6M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 9.2M | 0 | 11.8M | 50.3M | 5.6M | 11.7M | 35.3M | 6.9M | 111.9M | 96.6M | 91M | 101.1M | 109.3M | 108.6M | 32.1M | 31.7M |
| Intangible Assets | 598.5M | 2.62B | 652M | 695.4M | 858.5M | 614.9M | 547.5M | 550.9M | 537.2M | 580.9M | 545.3M | 570.5M | 633.2M | 364.4M | 420M | 479.6M |
| Total Liabilities | 4.55B | 4.58B | 4.43B | 4.85B | 4.64B | 4.53B | 4.51B | 4.26B | 2.68B | 2.58B | 2.51B | 2.63B | 2.58B | 2.56B | 621M | 612.4M |
| Total Debt | 4.13B | 4.13B | 4.01B | 4.34B | 4.21B | 4.12B | 4.13B | 3.87B | 2.31B | 2.23B | 2.14B | 2.25B | 2.2B | 1.52B | 0 | 0 |
| Net Debt | 4.1B | 4.03B | 3.97B | 4.3B | 4.17B | 3.69B | 3.42B | 3.81B | 2.26B | 2.18B | 2.07B | 2.15B | 2.17B | 1.49B | -20.2M | -37.6M |
| Long-Term Debt | 2.43B | 2.58B | 2.48B | 2.68B | 2.63B | 2.62B | 2.62B | 2.22B | 2.15B | 2.15B | 2.14B | 2.22B | 2.2B | 1.52B | 0 | 0 |
| Short-Term Borrowings | 278.7M | 172.9M | 10M | 65M | 30M | 0 | 80M | 195M | 160M | 80M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 5.74B | 1.37B | 1.52B | 1.6B | 1.56B | 1.5B | 1.43B | 1.45B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 619.8M | 172.9M | 520.8M | 593M | 551.6M | 507.7M | 534.9M | 650M | 402.6M | 299.6M | 251.5M | 265.6M | 255.2M | 647M | 205.6M | 196.7M |
| Accounts Payable | 36M | 0 | 51.4M | 55.5M | 65.4M | 64.9M | 64.9M | 67.9M | 56.5M | 56.1M | 85.6M | 83.6M | 75.2M | 80M | 77.7M | 72.8M |
| Deferred Revenue | 54.7M | 57.7M | 42.8M | 37.7M | 35.3M | 30.9M | 29.5M | 29M | 29.8M | 21.3M | 20.2M | 20.7M | 18.6M | 22.9M | 15.9M | 15M |
| Other Liabilities | 76.3M | 389M | 76.1M | 165.9M | 79M | 80.3M | 90.9M | 80.7M | 114.2M | 117.1M | 108.7M | 104.4M | 107.4M | 68.7M | 101.6M | 93.7M |
| Total Equity | 719M | 733.9M | 784M | 730.1M | 1.35B | 1.39B | 1.38B | 1.13B | 1.15B | 1.23B | 1.23B | 1.21B | 1.45B | 799.6M | 2.84B | 2.99B |
| Equity Growth % | -12.42% | -6.39% | 7.38% | -45.89% | -2.97% | 0.49% | 22.84% | -1.65% | -6.63% | -0.52% | 1.68% | -16.11% | 80.78% | -71.88% | -4.91% | - |
| Shareholders Equity | 693.3M | 710.4M | 768.8M | 697.1M | 1.35B | 1.38B | 1.36B | 1.09B | 1.1B | 1.18B | 1.23B | 1.21B | 1.45B | 799.6M | 2.84B | 2.99B |
| Minority Interest | 25.7M | 23.5M | 15.2M | 33M | 4M | 13M | 26.5M | 32.6M | 42.5M | 45.5M | 100K | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 1.8M | 1.8M | 1.7M | 1.7M | 1.6M | 1.5M | 1.4M | 1.4M | 1.4M | 1.4M | 1.4M | 1.4M | 1.4M | 874.7M | 2.91B | 3.07B |
| Additional Paid-in Capital | 0 | 2.62B | 2.49B | 2.4B | 2.42B | 2.12B | 2.09B | 2.07B | 2B | 1.96B | 1.95B | 1.93B | 1.91B | 0 | 0 | 0 |
| Retained Earnings | 0 | -1.91B | -1.85B | -1.82B | -1.18B | -1.12B | -1.1B | -964.6M | -871.6M | -775.6M | -699.5M | -602.2M | -377M | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 119.8M | 119.8M | 119.8M | 383.4M | 383.4M | 0 | 0 | 0 | 0 | 0 | 100K | 0 | 0 | 0 |
| Return on Assets (ROA) | 4.65% | 2.79% | 4.78% | -7.35% | 2.4% | 0.6% | -1.08% | 3.04% | 2.83% | 3.33% | 2.4% | -0.75% | 8.32% | 4.21% | 3.21% | 2.97% |
| Return on Equity (ROE) | 34.66% | 19.37% | 34.11% | -40.9% | 10.42% | 2.57% | -4.86% | 12.33% | 9.1% | 10.23% | 7.43% | -2.21% | 27.34% | 7.88% | 3.89% | 3.58% |
| Debt / Assets | 78.41% | 77.77% | 76.95% | 77.73% | 70.34% | 69.48% | 70.02% | 71.91% | 60.32% | 58.43% | 57.16% | 58.56% | 54.64% | 45.3% | - | - |
| Debt / Equity | 5.75x | 5.63x | 5.12x | 5.94x | 3.12x | 2.96x | 2.98x | 3.44x | 2.02x | 1.81x | 1.73x | 1.86x | 1.52x | 1.90x | - | - |
| Net Debt / EBITDA | 7.71x | 8.55x | 6.87x | - | 9.63x | 11.77x | 15.66x | 8.37x | 1.44x | 1.42x | 1.37x | 6.81x | 5.63x | 3.43x | -0.05x | -0.09x |
| Book Value per Share | 4.05 | 4.34 | 4.70 | 4.43 | 8.34 | 9.52 | 9.59 | 7.87 | 8.20 | 8.83 | 8.91 | 8.83 | 12.59 | 6.66 | 23.70 | 24.92 |
Quick answers to the most common questions about buying OUT stock.
As of 2025, Outfront Media Inc. (OUT) had total assets of $5.31B including $465.6M in current assets.
Outfront Media Inc. (OUT) carries total debt of $4.13B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Outfront Media Inc. (OUT) has total shareholders' equity (book value) of $710.4M ($4.34 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Outfront Media Inc. (OUT) reported a current ratio of 2.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
High leverage and FFO volatility
Metrics are mathematically derived from official filings.
Balance Sheet Expansion Tempered by Debt
Total assets grew modestly to $5.3B in 2026Q2, but equity remains thin at $693M, with debt-to-equity at 5.75x, according to recent SEC filings.
The balance sheet has remained relatively stable in size, with total assets hovering around $5.2-5.3B over the past year. However, equity has not kept pace, fluctuating between $644M and $785M, indicating that growth is largely debt-funded. The slight uptick in equity in 2026Q2 suggests retained earnings, but the high leverage ratio underscores a reliance on debt financing.
Portfolio Value Stable, Occupancy Unclear
PP&E net remained around $2.2B in 2026Q2, but a dip to $1.5B in 2025Q4 suggests possible asset sales or impairments, as reported in financial statements.
The stability in property, plant, and equipment (PP&E) suggests a mature portfolio with limited new development. The temporary drop in 2025Q4 could indicate a one-time adjustment or disposal, but the recovery to $2.2B in subsequent quarters implies it was not a permanent reduction. Without explicit occupancy data, the portfolio's operational health is inferred from NOI volatility, which has ranged widely, indicating potential demand fluctuations.
High Leverage with Stable Debt Levels
Total debt remained near $4.1B in 2026Q2, with debt-to-equity at 5.75x, reflecting a highly leveraged capital structure, based on reported figures.
Debt levels have been remarkably stable, hovering around $4.0-4.2B over the past ten quarters, suggesting a fixed capital structure. However, the debt-to-equity ratio has been consistently above 5x, peaking at 6.77x in 2024Q1, indicating significant financial risk. The stability in debt may imply that the company is not aggressively expanding, but the high leverage leaves little room for additional borrowing without straining covenants.
Equity Base Thin and Volatile
Equity stood at $693M in 2026Q2, up from $662M in 2026Q1, but remains below the $769M seen in 2024Q4, as per SEC filings.
The equity base has been volatile, with swings of over $100M quarter-to-quarter, reflecting the impact of net income and dividend payments. The low equity relative to total assets (around 13%) indicates a highly leveraged balance sheet, which amplifies the impact of earnings fluctuations on book value. The modest increase in 2026Q2 suggests some earnings retention, but the overall trend is one of thin capitalization.
Liquidity Tight with Low Cash Reserves
Cash and equivalents were only $31.2M in 2026Q2, down from $99.9M in 2025Q4, indicating limited liquidity buffer, according to financial statements.
Cash reserves have been consistently low, never exceeding $100M over the past ten quarters, which is minimal relative to total debt of $4.1B. This suggests a reliance on operating cash flow and credit facilities for liquidity. The decline in cash from 2025Q4 to 2026Q2 may indicate cash used for debt repayment or capital expenditures, but the low absolute level raises concerns about the ability to cover unexpected obligations.
Debt Maturity Concentration Risk
With total debt at $4.1B and cash only $31M, refinancing risk is elevated if maturities cluster, as suggested by the high debt-to-equity ratio.
The balance sheet shows a high reliance on debt with minimal cash reserves, which could pose refinancing risk if a significant portion of debt matures in the near term. While the data does not provide a maturity schedule, the stable debt levels and low cash suggest that the company may need to refinance at potentially higher rates, especially given the volatile FFO. Investors should monitor upcoming debt maturities and the company's ability to access capital markets.