Latest Ratios: P/E Ratio -7.0x · EV/EBITDA 13.2x · ROE -5.0%. (1996–2025 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 | $57M | $70M | $67M | $135M | $141M | $143M | $141M | $177M | $194M | $235M | $290M |
| Enterprise Value | $40M | $53M | $60M | $105M | $104M | $88M | $100M | $143M | $169M | $207M | $300M |
| P/E Ratio → | -7.00 | — | 20.05 | 14.36 | 15.53 | 13.07 | — | 13.63 | 14.14 | 4.36 | 16.28 |
| P/S Ratio | 0.53 | 0.66 | 0.59 | 1.19 | 1.23 | 1.32 | 1.47 | 1.44 | 1.55 | 1.99 | 2.04 |
| P/B Ratio | 0.36 | 0.47 | 0.40 | 0.79 | 0.79 | 0.73 | 0.74 | 0.92 | 1.05 | 1.31 | 2.15 |
| P/FCF | 23.56 | 29.07 | 15.60 | 12.21 | 12.73 | 9.55 | 14.71 | 9.41 | 18.72 | — | 24.96 |
| P/OCF | 10.45 | 12.89 | 4.87 | 8.75 | 8.23 | 7.49 | 11.67 | 7.00 | 7.58 | 43.71 | 9.90 |
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 | — | 0.49 | 0.54 | 0.93 | 0.91 | 0.82 | 1.04 | 1.16 | 1.35 | 1.75 | 2.10 |
| EV / EBITDA | 13.16 | 17.59 | 7.91 | 6.35 | 5.71 | 4.25 | 18.89 | 5.57 | 6.38 | 8.81 | 8.03 |
| EV / EBIT | — | — | 12.28 | 8.05 | 7.37 | 5.62 | — | 7.37 | 8.58 | 11.08 | 14.21 |
| EV / FCF | — | 21.85 | 14.07 | 9.52 | 9.41 | 5.89 | 10.40 | 7.61 | 16.33 | — | 25.79 |
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 | 9.5% | 9.5% | 14.2% | 20.0% | 23.8% | 23.2% | 14.8% | 24.7% | 24.9% | 25.7% | 28.8% |
| Operating Margin | -2.0% | -2.0% | 2.1% | 10.2% | 11.4% | 13.9% | -1.3% | 15.3% | 15.8% | 14.6% | 22.1% |
| Net Profit Margin | -7.4% | -7.4% | 3.1% | 8.4% | 8.0% | 10.3% | -2.0% | 10.8% | 11.0% | 46.3% | 12.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -5.0% | -5.0% | 2.1% | 5.4% | 4.9% | 5.8% | -1.0% | 7.0% | 7.5% | 34.8% | 14.1% |
| ROA | -3.7% | -3.7% | 1.5% | 4.0% | 3.8% | 4.5% | -0.8% | 5.3% | 5.5% | 23.3% | 8.5% |
| ROIC | -1.1% | -1.1% | 1.2% | 6.1% | 6.9% | 7.7% | -0.6% | 8.9% | 9.5% | 8.7% | 16.7% |
| ROCE | -1.1% | -1.1% | 1.2% | 5.5% | 5.9% | 6.5% | -0.5% | 8.2% | 8.7% | 8.0% | 15.9% |
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 | 0.03 | 0.03 | 0.07 | — | — | — | 0.05 | 0.05 | 0.11 | 0.14 | 0.27 |
| Debt / EBITDA | 1.66 | 1.66 | 1.61 | — | — | — | 1.90 | 0.39 | 0.76 | 1.06 | 0.97 |
| Net Debt / Equity | — | -0.12 | -0.04 | -0.17 | -0.21 | -0.28 | -0.22 | -0.18 | -0.13 | -0.16 | 0.07 |
| Net Debt / EBITDA | -5.82 | -5.82 | -0.86 | -1.79 | -2.02 | -2.63 | -7.84 | -1.32 | -0.93 | -1.19 | 0.26 |
| Debt / FCF | — | -7.22 | -1.54 | -2.68 | -3.32 | -3.65 | -4.31 | -1.81 | -2.39 | — | 0.84 |
| Interest Coverage | -5.00 | -5.00 | 14.13 | 75.42 | 108.71 | 55.29 | -2.55 | 26.44 | 20.81 | 20.68 | 28.38 |
Net cash position: cash ($23M) exceeds total debt ($5M)
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 | 3.04 | 3.04 | 2.84 | 2.16 | 2.31 | 3.88 | 5.09 | 3.81 | 2.96 | 3.64 | 3.35 |
| Quick Ratio | 3.04 | 3.04 | 2.84 | 2.16 | 2.31 | 3.88 | 5.09 | 3.81 | 2.96 | 3.64 | 3.29 |
| Cash Ratio | 1.97 | 1.97 | 1.68 | 1.43 | 1.60 | 2.85 | 3.69 | 2.52 | 1.93 | 2.54 | 1.66 |
| Asset Turnover | — | 0.53 | 0.51 | 0.49 | 0.48 | 0.44 | 0.39 | 0.49 | 0.50 | 0.47 | 0.65 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 99.36 |
| Days Sales Outstanding | — | 50.22 | 53.96 | 58.31 | 58.63 | 58.08 | 63.34 | 59.93 | 62.31 | 63.72 | 48.77 |
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 | 11.7% | 9.1% | 33.6% | 14.8% | 14.0% | 1.3% | 2.6% | 4.9% | 6.1% | 2.3% | 2.6% |
| Payout Ratio | — | — | 650.9% | 209.2% | 215.0% | 17.2% | — | 64.9% | 86.7% | 9.7% | 42.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 5.0% | 7.0% | 6.4% | 7.7% | — | 7.3% | 7.1% | 22.9% | 6.1% |
| FCF Yield | 4.2% | 3.4% | 6.4% | 8.2% | 7.9% | 10.5% | 6.8% | 10.6% | 5.3% | — | 4.0% |
| Buyback Yield | 4.4% | 3.6% | 0.4% | 0.2% | 0.1% | 0.3% | 0.3% | 0.7% | 1.0% | 0.4% | 0.3% |
| Total Shareholder Yield | 16.1% | 12.7% | 34.0% | 14.9% | 14.1% | 1.6% | 3.0% | 5.5% | 7.2% | 2.7% | 2.9% |
| Shares Outstanding | — | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M |
Secular Terrestrial Radio Decline
According to current market data, Saga trades at a P/S of 0.52 and a P/B of 0.35, suggesting that investors are pricing the company as a liquidation play rather than a growth entity, despite the company's historical ability to maintain a debt-free balance sheet.
The absence of meaningful P/E or EV/EBITDA multiples indicates that the market is struggling to assign value to a business with negative earnings and contracting revenue. This valuation suggests that the market is heavily discounting the company's future cash flows, likely due to the secular decline in terrestrial radio listenership and the lack of a clear digital growth strategy.
Based on reported financial figures, Saga's ROIC has deteriorated from 1.4% in 2023Q4 to -1.8% in 2026Q1, indicating that the company is currently failing to generate returns on invested capital that exceed the cost of maintaining its legacy broadcasting infrastructure.
The consistent decline in ROIC reflects the company's inability to optimize its asset base as revenue contracts. This trend suggests that the capital invested in station clusters is becoming increasingly unproductive, warranting further investigation into whether management should divest underperforming assets to preserve shareholder value.
As reported in quarterly filings, Saga's asset turnover has remained consistently low, hovering around 0.11 to 0.14 over the last ten quarters, which highlights the inherent difficulty in generating revenue growth from a fixed, capital-intensive broadcasting asset base in a declining market.
The stability of the DSO around 50-60 days suggests that while the company is maintaining its collection cycles, it is not gaining any operational leverage from its customer base. This lack of efficiency improvement implies that the company is essentially treading water, unable to accelerate its cash conversion cycle to offset the broader industry headwinds.
Based on financial statements, Saga maintains a negligible debt-to-equity ratio of 0.03%, which provides a significant structural advantage over highly leveraged peers like Cumulus Media, allowing the company to avoid the insolvency risks that typically plague the broadcasting sector during economic downturns.
While the company's lack of leverage is a clear defensive strength, it also raises questions about whether management is being too conservative by not utilizing its balance sheet to fund a pivot toward digital platforms. Investors should monitor whether this 'fortress' balance sheet remains a strategic asset or becomes a capital trap as operational losses continue to mount.
The 12.0% dividend yield is frequently misapplied by retail investors as a signal of financial health, when in reality, it may obscure the underlying operational cash burn and the unsustainable nature of returning capital while the core business is experiencing persistent revenue contraction.
Investors should focus on the FCF margin rather than the dividend yield, as the former reveals the true ability of the business to fund its own operations. Relying on the yield ignores the fact that the company is currently paying out capital that it may need to modernize its delivery platforms or cover future operating deficits.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SGA stock.
Saga Communications, Inc.'s current P/E ratio is -7.0x. The historical average is 21.8x.
Saga Communications, Inc.'s current EV/EBITDA is 13.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Saga Communications, Inc.'s return on equity (ROE) is -5.0%. The historical average is 8.5%.
Based on historical data, Saga Communications, Inc. is trading at a P/E of -7.0x. Compare with industry peers and growth rates for a complete picture.
Saga Communications, Inc.'s current dividend yield is 11.67%.
Saga Communications, Inc. has 9.5% gross margin and -2.0% operating margin.
Saga Communications, Inc.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.