Latest Ratios: P/E Ratio -11.5x · EV/EBITDA 15.7x · ROE N/A. (2003–2025 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 | $1.2B | $1.1B | $670M | $877M | $498M | $1.6B | $766M | $1.2B | $1.9B | $1.7B | $1.8B |
| Enterprise Value | $7.5B | $7.4B | $7.6B | $7.8B | $7.2B | $8.4B | $7.2B | $7.8B | $7.0B | $6.8B | $6.4B |
| P/E Ratio → | -11.48 | — | — | — | — | — | — | — | — | — | 13.65 |
| P/S Ratio | 0.76 | 0.69 | 0.45 | 0.61 | 0.36 | 0.88 | 0.41 | 0.44 | 0.69 | 0.64 | 0.68 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 38.36 | 34.44 | — | — | — | — | — | — | — | — | 22.68 |
| P/OCF | 10.68 | 9.59 | 8.40 | 28.05 | 3.56 | — | — | 5.51 | 10.02 | 10.38 | 5.89 |
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 | — | 4.60 | 5.04 | 5.44 | 5.23 | 4.73 | 3.90 | 2.91 | 2.56 | 2.62 | 2.39 |
| EV / EBITDA | 15.66 | 15.40 | 16.73 | 16.42 | 13.16 | 19.43 | 56.82 | 13.77 | 12.22 | 12.15 | 6.56 |
| EV / EBIT | 24.67 | 24.87 | 28.25 | 36.29 | 28.33 | — | — | 60.11 | 26.89 | 32.30 | 22.08 |
| EV / FCF | — | 230.83 | — | — | — | — | — | — | — | — | 79.50 |
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 | 42.5% | 42.5% | 54.8% | 54.0% | 57.4% | 49.8% | 35.2% | 45.9% | 46.0% | 45.5% | 47.3% |
| Operating Margin | 19.0% | 19.0% | 18.5% | 15.1% | 18.5% | 3.3% | -15.8% | 9.4% | 9.3% | 9.0% | 23.6% |
| Net Profit Margin | -6.5% | -6.5% | -11.9% | -21.7% | -7.0% | -24.5% | -31.4% | -13.5% | -8.0% | -24.9% | 5.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — |
| ROA | -2.4% | -2.4% | -3.8% | -6.3% | -1.9% | -7.8% | -9.6% | -6.7% | -4.7% | -12.4% | 2.2% |
| ROIC | 7.4% | 7.4% | 6.2% | 4.7% | 5.4% | 1.2% | -5.3% | 5.0% | 6.0% | 4.9% | 12.0% |
| ROCE | 9.0% | 9.0% | 7.6% | 5.6% | 6.3% | 1.3% | -5.9% | 5.6% | 6.5% | 5.1% | 12.0% |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 13.50 | 13.50 | 15.50 | 15.10 | 12.77 | 16.78 | 56.97 | 12.39 | 9.25 | 9.43 | 5.24 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 13.10 | 13.10 | 15.25 | 14.57 | 12.25 | 15.83 | 50.80 | 11.69 | 8.93 | 9.18 | 4.69 |
| Debt / FCF | — | 196.39 | — | — | — | — | — | — | — | — | 56.82 |
| Interest Coverage | 0.75 | 0.75 | 0.67 | 0.51 | 0.76 | -0.13 | -0.83 | 0.31 | 0.67 | 0.55 | 0.77 |
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 | 1.28 | 1.28 | 1.30 | 1.08 | 1.00 | 1.02 | 1.22 | 1.02 | 1.39 | 1.48 | 2.09 |
| Quick Ratio | 1.28 | 1.28 | 1.30 | 1.08 | 1.00 | 1.02 | 1.21 | 1.00 | 1.37 | 1.45 | 2.06 |
| Cash Ratio | 0.31 | 0.31 | 0.09 | 0.28 | 0.25 | 0.37 | 0.72 | 0.34 | 0.25 | 0.22 | 0.84 |
| Asset Turnover | — | 0.42 | 0.31 | 0.30 | 0.27 | 0.33 | 0.32 | 0.42 | 0.60 | 0.55 | 0.47 |
| Inventory Turnover | — | — | — | — | — | — | 72.40 | 68.75 | 81.43 | 64.26 | 66.93 |
| Days Sales Outstanding | — | 84.50 | 83.44 | 127.20 | 119.86 | 132.71 | 92.17 | 96.99 | 95.40 | 93.67 | 82.04 |
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 | — | — | — | — | — | — | 0.1% | 0.1% | 1.6% | 20.0% | 41.4% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | 559.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | 7.3% |
| FCF Yield | 2.6% | 2.9% | — | — | — | — | — | — | — | — | 4.4% |
| Buyback Yield | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 1.6% | 20.0% | 41.4% |
| Shares Outstanding | — | $498M | $489M | $482M | $474M | $468M | $465M | $413M | $362M | $361M | $362M |
High Interest Expense Burden
According to current market data, CCO trades at an EV/EBITDA multiple of 15.68, which sits significantly below the peer group average, suggesting that investors are applying a substantial discount due to the company's persistent net losses and the heavy debt burden inherited from historical corporate spin-offs.
The valuation gap relative to peers like Lamar Advertising suggests the market views CCO as a deleveraging story rather than a growth-oriented asset. This pricing implies that any potential upside is contingent upon successful debt reduction and margin expansion through digital conversion, rather than immediate earnings growth.
Based on reported figures, CCO's ROIC has remained consistently low, fluctuating between 0.7% and 3.0% over the last ten quarters, which indicates that the company is struggling to generate returns on its invested capital that exceed the cost of its significant debt-heavy capital structure.
The inability to consistently drive ROIC above low single digits suggests that the company's capital-intensive billboard infrastructure is not yet yielding the expected efficiencies from digital upgrades. Investors should monitor whether the ongoing divestiture of international assets can improve these returns by focusing capital on higher-margin domestic markets.
As reported in recent financial statements, CCO's DSO has shown significant volatility, ranging from 55 to 117 days, which highlights the company's inconsistent ability to collect receivables from advertising clients and suggests potential inefficiencies in managing its working capital cycle compared to industry standards.
This variability in collection cycles may indicate that the company is forced to offer extended payment terms to maintain market share in a competitive advertising environment. Such fluctuations complicate cash flow forecasting and may exacerbate the company's reliance on external financing during periods of cyclical revenue contraction.
Data from quarterly filings reveals that CCO's interest coverage ratio has frequently dipped below 1.0x, reaching as low as 0.18 in 2024Q1, which underscores the extreme pressure the company's $6.4B debt load places on its operational cash flow and overall financial stability.
The high interest expense burden appears to be the primary driver of the company's net losses, effectively neutralizing the operational gains from its core U.S. billboard business. This leverage profile warrants further investigation into the company's refinancing schedule, as rising interest rates could further restrict the capital available for necessary digital infrastructure investments.
Investors frequently misapply the P/E ratio to CCO, which is fundamentally flawed given the company's persistent net losses and the significant non-cash impairment charges that distort earnings, making EV/EBITDA a far more reliable metric for assessing the underlying cash-generating potential of its billboard assets.
Because CCO's bottom line is heavily impacted by interest expenses and accounting adjustments, the P/E ratio obscures the actual operational health of the business. Analysts should instead focus on OIBDAN or adjusted EBITDA to better understand the company's ability to service its debt and fund its digital transformation strategy.
Includes 30+ ratios · 23 years · Updated daily
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Quick answers to the most common questions about buying CCO stock.
Clear Channel Outdoor Holdings, Inc.'s current P/E ratio is -11.5x. The historical average is 67.7x.
Clear Channel Outdoor Holdings, Inc.'s current EV/EBITDA is 15.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.5x.
Based on historical data, Clear Channel Outdoor Holdings, Inc. is trading at a P/E of -11.5x. Compare with industry peers and growth rates for a complete picture.
Clear Channel Outdoor Holdings, Inc. has 42.5% gross margin and 19.0% operating margin. Operating margin between 10-20% is typical for established companies.
Clear Channel Outdoor Holdings, Inc.'s Debt/EBITDA ratio is 13.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.