Latest Ratios: P/E Ratio -9.5x · EV/EBITDA 7.8x · ROE N/A. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $112M | $83M | $142M | $177M | $132M | $283M | $185M | $185M | $112M | $142M | $284M |
| Enterprise Value | $590M | $561M | $629M | $666M | $667M | $820M | $697M | $710M | $607M | $646M | $804M |
| P/E Ratio → | -9.48 | — | — | — | 10.66 | 16.87 | — | — | — | — | 12.25 |
| P/S Ratio | 0.26 | 0.19 | 0.31 | 0.39 | 0.29 | 0.68 | 0.50 | 0.43 | 0.26 | 0.28 | 0.55 |
| P/B Ratio | — | — | — | 17.86 | 1.91 | 5.71 | 1.83 | 1.01 | 0.44 | 0.37 | 0.73 |
| P/FCF | 7.28 | 5.41 | 4.53 | 3.35 | 4.50 | 5.82 | 11.32 | 9.47 | 6.06 | 5.12 | 7.32 |
| P/OCF | 3.66 | 2.72 | 2.91 | 2.61 | 2.63 | 4.64 | 5.86 | 4.62 | 3.06 | 2.80 | 4.75 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.31 | 1.40 | 1.47 | 1.44 | 1.96 | 1.88 | 1.64 | 1.41 | 1.27 | 1.56 |
| EV / EBITDA | 7.78 | 7.40 | 13.61 | 135.23 | 8.45 | 8.77 | — | — | 10.12 | 21.42 | 7.93 |
| EV / EBIT | 10.55 | 10.04 | 24.99 | — | 12.84 | 12.19 | — | — | 38.46 | 12.87 | 10.88 |
| EV / FCF | — | 36.49 | 20.10 | 12.61 | 22.72 | 16.86 | 42.77 | 36.34 | 32.79 | 23.30 | 20.69 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.2% | 21.2% | 27.5% | 27.5% | 29.8% | 31.0% | 24.0% | 30.4% | 28.7% | 24.2% | 25.6% |
| Operating Margin | 13.1% | 13.1% | 4.8% | -4.2% | 12.0% | 17.8% | -20.2% | -8.6% | 9.4% | 2.2% | 15.0% |
| Net Profit Margin | -2.7% | -2.7% | -2.8% | -9.9% | 2.7% | 4.0% | -22.2% | -15.7% | -7.6% | -2.2% | 4.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | -113.8% | 20.8% | 22.3% | -58.2% | -30.9% | -10.3% | -2.9% | 6.1% |
| ROA | -2.1% | -2.1% | -2.1% | -6.4% | 1.6% | 2.1% | -9.6% | -7.3% | -3.2% | -1.0% | 2.1% |
| ROIC | 9.4% | 9.4% | 3.4% | -2.6% | 7.0% | 9.3% | -8.5% | -3.8% | 3.7% | 0.9% | 6.4% |
| ROCE | 11.8% | 11.8% | 4.0% | -3.1% | 8.2% | 10.4% | -9.5% | -4.3% | 4.2% | 1.1% | 7.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 55.54 | 8.38 | 11.85 | 5.91 | 3.34 | 2.17 | 1.48 | 1.46 |
| Debt / EBITDA | 6.37 | 6.37 | 11.25 | 111.70 | 7.33 | 6.28 | — | — | 9.26 | 18.75 | 5.63 |
| Net Debt / Equity | — | — | — | 49.38 | 7.75 | 10.83 | 5.09 | 2.88 | 1.94 | 1.32 | 1.33 |
| Net Debt / EBITDA | 6.31 | 6.31 | 10.54 | 99.32 | 6.78 | 5.74 | — | — | 8.25 | 16.72 | 5.12 |
| Debt / FCF | — | 31.08 | 15.57 | 9.26 | 18.23 | 11.04 | 31.45 | 26.87 | 26.73 | 18.19 | 13.37 |
| Interest Coverage | 1.17 | 1.17 | 0.68 | -0.32 | 1.30 | 1.69 | -2.28 | -1.10 | 0.46 | 1.53 | 2.30 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.84 | 0.84 | 1.38 | 1.74 | 1.68 | 1.51 | 2.27 | 2.20 | 2.30 | 1.89 | 1.88 |
| Quick Ratio | 0.84 | 0.84 | 1.38 | 1.74 | 1.68 | 1.51 | 2.27 | 2.20 | 2.30 | 1.89 | 1.88 |
| Cash Ratio | 0.06 | 0.06 | 0.43 | 0.80 | 0.61 | 0.66 | 1.27 | 1.18 | 0.93 | 0.89 | 0.79 |
| Asset Turnover | — | 0.81 | 0.78 | 0.70 | 0.62 | 0.55 | 0.46 | 0.47 | 0.45 | 0.46 | 0.46 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 44.45 | 49.07 | 48.84 | 48.27 | 50.34 | 57.63 | 57.08 | 53.06 | 44.28 | 42.07 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 12.1% | 15.9% | 8.7% | 5.3% | — | 0.0% | 2.3% | 4.5% | 5.5% | — | — |
| Payout Ratio | — | — | — | — | — | 0.4% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 9.4% | 5.9% | — | — | — | — | 8.2% |
| FCF Yield | 13.7% | 18.5% | 22.1% | 29.9% | 22.2% | 17.2% | 8.8% | 10.6% | 16.5% | 19.5% | 13.7% |
| Buyback Yield | 0.0% | 0.0% | 16.6% | 9.4% | 0.2% | 0.5% | 0.0% | 0.2% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 12.1% | 15.9% | 25.3% | 14.7% | 0.2% | 0.5% | 2.3% | 4.7% | 5.5% | 0.0% | 0.0% |
| Shares Outstanding | — | $16M | $16M | $17M | $18M | $21M | $28M | $19M | $27M | $18M | $27M |
Liquidity and solvency pressure
According to recent market data, TSQ trades at a P/S ratio of 0.26, which suggests that investors are heavily discounting the company's future revenue potential compared to broader media sector averages and historical valuation levels for the firm.
The negative TTM P/E ratio highlights the disconnect between accounting losses and the company's ongoing operational pivot. While the forward P/E of 11.81 implies an expectation of earnings recovery, this valuation appears optimistic given the persistent revenue contraction and the high interest burden that continues to weigh on net profitability.
Based on reported financial statements, the company's ROIC has struggled to maintain positive momentum, fluctuating between -3.4% and 3.4% over the last ten quarters, which indicates a fundamental inability to consistently generate returns above the cost of capital in the current environment.
The volatility in ROIC suggests that the company's investments in digital transformation are not yet yielding the expected margin expansion. Investors should monitor whether the firm can stabilize these returns, as the current trend points toward a decay in capital efficiency that complicates the long-term deleveraging narrative.
As reported in quarterly filings, the company's asset turnover ratio has remained consistently low, hovering around 0.19, which indicates that the firm is struggling to generate sufficient revenue from its existing asset base compared to more efficient digital-native competitors.
The DSO metric, which has remained in the 44-52 day range, suggests that the company has limited leverage over its SMB customer base regarding payment terms. This lack of improvement in working capital efficiency limits the cash available for debt service and reinvestment, further constraining operational flexibility.
According to recent balance sheet data, the current ratio has declined to 0.75, signaling that the company's ability to cover short-term obligations is increasingly reliant on external financing or rapid cash conversion rather than existing liquid assets.
The sharp reduction in cash reserves leaves little margin for error should the local advertising cycle experience a further downturn. This liquidity position warrants close investigation, as it may force management to prioritize debt maintenance over the strategic investments required to sustain the digital pivot.
Market participants frequently misapply traditional EV/EBITDA radio multiples to TSQ, which obscures the value of its digital marketing segment and fails to account for the distinct growth profile of its subscription-based revenue streams compared to pure-play terrestrial broadcasters.
By valuing the entire entity as a legacy radio business, the market likely ignores the potential for a valuation re-rating if the digital segment were viewed as a standalone SMB-SaaS provider. Analysts should instead focus on the Digital Contribution Margin as a more accurate proxy for the company's true earning power.
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Quick answers to the most common questions about buying TSQ stock.
Townsquare Media, Inc.'s current P/E ratio is -9.5x. The historical average is 18.0x.
Townsquare Media, Inc.'s current EV/EBITDA is 7.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
Based on historical data, Townsquare Media, Inc. is trading at a P/E of -9.5x. Compare with industry peers and growth rates for a complete picture.
Townsquare Media, Inc.'s current dividend yield is 12.12%.
Townsquare Media, Inc. has 21.2% gross margin and 13.1% operating margin. Operating margin between 10-20% is typical for established companies.
Townsquare Media, Inc.'s Debt/EBITDA ratio is 6.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.