LAMRNasdaqReal Estate Investment TrustsFiscal year ends December 31
LAMAR ADVERTISING CO/NEW
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$150.92+0.82 (+0.55%)
Close on Oct 19, 2026
- Market cap
- $15.33B
- P/E (TTM)
- 27.5
- Dividend yield
- 4.27%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
67.0%+2.6 pts over 5 years
Operating margin
34.2%+8.0 pts over 5 years
Net margin
25.9%+10.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.7% | +3.7% | +7.6% | – | |
| Gross profit | +2.7% | +3.6% | +8.5% | – | |
| Operating income | +45.5% | +10.2% | +13.5% | +7.3% | |
| Net income | +62.3% | +10.2% | +19.3% | +8.4% | |
| EPS, diluted | +63.9% | +10.2% | +19.1% | +7.8% | |
| Free cash flow | -8.7% | +3.6% | +6.1% | +6.4% | |
| Dividend per share | +14.2% | +8.9% | +20.9% | +8.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 28.6% | 20.4% | – | |
| Return on assets | 8.2% | 4.1% | 8.7% | |
| Current ratio | 1.13 | 0.69 | 0.58 | |
| Debt to equity | 2.20 | 2.40 | – | |
| Net debt to EBITDA | 3.59× | 4.18× | 3.05× | |
| Interest coverage | 3.5× | 3.0× | 4.8× | |
| Capex to revenue | 7.2% | 4.0% | 8.0% | |
| Diluted shares | 98M | 101M | 102M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Lamar Advertising generated $4.04B from operations and spent $963.35M on capital expenditure, dividends and share buybacks. 81% of that went back into the business.
Generated
$4.04B
Used
$963.35M
Capital expenditure$777.52M81%Dividends$00%Share buybacks$185.82M19%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin21.6%
×Asset turnover0.32×
×Equity multiplier5.19×
=Return on equity, FY202236.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2022 | 21.6% | 0.32× | 5.19× | 36.4% |
| FY2021 | 21.7% | 0.30× | 4.89× | 32.1% |
| FY2020 | 15.5% | 0.27× | 4.92× | 20.4% |
| FY2019 | 21.2% | 0.33× | 4.54× | 32.2% |
| FY2018 | 18.8% | 0.37× | 3.92× | 27.3% |
| FY2017 | 20.6% | 0.38× | 3.73× | 29.2% |
| FY2016 | 19.9% | 0.41× | 3.47× | 28.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$587.15M
- Cash generatingOperating cash flow above zero$864.05M
- Return on assets improvedROA up on the prior year5.5% → 8.9%
- Earnings backed by cashOperating cash flow above net income$864.05M vs $587.15M
- Less leverageLong-term debt to assets fell45.0% → 45.7%
- Better liquidityCurrent ratio rose0.55 → 0.58
- No dilutionShare count did not rise103M → 102M
- Gross margin improvedGross margin up on the prior year67.02% → 67.04%
- More efficientAsset turnover rose0.34 → 0.34