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Clear Channel Outdoor Holdings, Inc.

CCOCIK 0001334978

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Operating performance

5 years of operating performance (2021 - 2025)

Revenue, profitability, and free cash flow are shown together so you can see scale, margin conversion, and cash generation on one screen.

Income statement Cash flow

Five-year trend

Revenue
Operating Income
Free Cash Flow

Revenue

+6.6% YoY

$1.6B

FY 2025+6.6%

Open

Operating Income

+11.3% YoY

$310.6M

FY 2025+11.3%

Open

Compound growth

Annualised change across the filed history.

Revenue CAGR 5Y

-2.9%

Operating Income CAGR 3Y

6.7%

Directional read

Filing-backed read on scale, margins, and cash flow.

Revenue compounded down 2.9% annually over the last five fiscal years.
Net margin expanded 13.2 pts versus the prior fiscal year.
Free cash flow was positive in 1 of the last 5 reported fiscal years.

Operating performance

5 years of operating performance (2021 - 2025)

Revenue, profitability, and free cash flow are shown together so you can see scale, margin conversion, and cash generation on one screen.

Income statement Cash flow

Five-year trend

Revenue
Operating Income
Free Cash Flow

Revenue

+6.6% YoY

$1.6B

FY 2025+6.6%

Open

Operating Income

+11.3% YoY

$310.6M

FY 2025+11.3%

Open

Compound growth

Annualised change across the filed history.

Revenue CAGR 5Y

-2.9%

Operating Income CAGR 3Y

6.7%

Directional read

Filing-backed read on scale, margins, and cash flow.

Revenue compounded down 2.9% annually over the last five fiscal years.
Net margin expanded 13.2 pts versus the prior fiscal year.
Free cash flow was positive in 1 of the last 5 reported fiscal years.

Valuation snapshot

Where the price sits against the anchors

A target is published only when both the filing-backed DCF and the peer fair value clear the confidence gate.

Current price

$2.38

Market cap $1.2B

Fair value estimate

Withheld

Filing-backed DCF failed the evidence gate.

Implied upside

—

DCF: At least 3 of the last 5 annual free-cash-flow observations must be positive.

Valuation anchors

Scale: $2.20 – $4.07

Current

$2.38

Peer

Evidence coverage

Medium · 60%

This score describes input coverage, not the probability that a valuation or investment return will be correct.

Live or stored price is available — met
Peer valuation meets at least fallback breadth — met
Filing-backed DCF qualifies — not met
EV bridge inputs are complete — not met
Five years of annual FCF history exist — met

Evidence gate detail

Filing-backed DCF failed the evidence gate.

DCF: At least 3 of the last 5 annual free-cash-flow observations must be positive.

Active DCF policy

Policy

Filing-Backed v2

Basis

Operating cash flow less capex (firm-value proxy)

Diluted shares

Bridge

Net debt + securities

Audit valuation details

Market context

Current price and fair-value anchors

Live quote snapshot · Sep 11, 2026

Current vs Fair Value

Current price stacked against the same public-equity anchors shown in the confidence-gated hero.

Current Price$2.38

Peer Fair ValueView math$3.89

How to read this

Only the peer fair value and the filing-backed DCF feed this section.
When both qualify, the confidence-gated target appears alongside them as the published overview read.
Open the math breakdown on any anchor for the underlying bridge.

Capital structure

Cash, debt, and carrying capacity

The overview keeps the capital structure bridge close to the cash-generation picture so fair value can be read in equity terms.

CCO enterprise value

Valuation snapshot

Where the price sits against the anchors

A target is published only when both the filing-backed DCF and the peer fair value clear the confidence gate.

Current price

$2.38

Market cap $1.2B

Fair value estimate

Withheld

Filing-backed DCF failed the evidence gate.

Implied upside

—

DCF: At least 3 of the last 5 annual free-cash-flow observations must be positive.

Valuation anchors

Scale: $2.20 – $4.07

Current

$2.38

Peer

Evidence coverage

Medium · 60%

This score describes input coverage, not the probability that a valuation or investment return will be correct.

Live or stored price is available — met
Peer valuation meets at least fallback breadth — met
Filing-backed DCF qualifies — not met
EV bridge inputs are complete — not met
Five years of annual FCF history exist — met

Evidence gate detail

Filing-backed DCF failed the evidence gate.

DCF: At least 3 of the last 5 annual free-cash-flow observations must be positive.

Active DCF policy

Policy

Filing-Backed v2

Basis

Operating cash flow less capex (firm-value proxy)

Diluted shares

Bridge

Net debt + securities

Audit valuation details

Market context

Current price and fair-value anchors

Live quote snapshot · Sep 11, 2026

Current vs Fair Value

Current price stacked against the same public-equity anchors shown in the confidence-gated hero.

Current Price$2.38

Peer Fair ValueView math$3.89

How to read this

Only the peer fair value and the filing-backed DCF feed this section.
When both qualify, the confidence-gated target appears alongside them as the published overview read.
Open the math breakdown on any anchor for the underlying bridge.

Capital structure

Cash, debt, and carrying capacity

The overview keeps the capital structure bridge close to the cash-generation picture so fair value can be read in equity terms.

CCO enterprise value

Cash & Securities

Cash, cash equivalents, and marketable securities.

$190M

Total Debt

Current and long-term debt.

—

Net Cash / Debt

Cash and securities less total debt.

—

Equity

Reported stockholders' equity.

$-3.4B

Tangible Equity

Equity less goodwill and other intangibles.

$-5.1B

Net cash or debt is unavailable because complete debt and cash evidence is required to bridge enterprise value into equity value.

Cash quality

Latest annual cash generation after capital spending.

Operating Cash Flow

Cash from operations.

$114.9M

Capital Expenditures

Capital Expenditures shown as an outflow.

$-82.9M

Free Cash Flow

Operating cash flow minus capital expenditures.

$32M

CFO Margin

7.2%

FCF Margin

2.0%

CFO / Net Income

5.76x

FCF / Net Income

1.60x

Operating cash flow covered 576% of net income in the latest annual filing.
Free cash flow converted 160% of net income after capital spending.
Latest annual free cash flow remained positive.

Quality and risk

Solvency, quality, and risk

Altman, Piotroski, liquidity, and leverage sit together so the valuation read can be judged against balance-sheet reality.

Altman Z-Score

Distress risk from the latest annual balance sheet.

-1.70Distress

0.0 distress1.8 grey3.0+ safe

Piotroski F-Score

Nine filing-backed checks on profitability, leverage, and efficiency.

5/ 9

neutral

Current Ratio

1.28x

Peer context

Saved comparables and what they imply

The overview keeps peer evidence concise here and sends detailed bridging to the relative-valuation tab.

Open relative valuation

Peer fair value

$3.89

Per-share fair value from the weighted peer set.

Average P/E

45.63x

Price to earnings across covered peers.

Average P/S

1.90x

Price to sales across covered peers.

Average EV/EBITDA

—

Enterprise multiple across covered peers.

Comparable companies

4 peers across 2 active peer methods

CompanyPriceCapP/EEV/EBITDA

OUTFRONT Media Inc.

OUT · CIK 0001579877

$28.62

$5B

34.29x

—

Cap $5BP/E 34.29xEV/EBITDA —

Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc.

5 years of operating performance (2021 - 2025)

Five-year trend

Compound growth

Directional read

5 years of operating performance (2021 - 2025)

Five-year trend

Compound growth

Directional read

Where the price sits against the anchors

Evidence coverage

Active DCF policy

Current price and fair-value anchors

Current vs Fair Value

Cash, debt, and carrying capacity

Where the price sits against the anchors

Evidence coverage

Active DCF policy

Current price and fair-value anchors

Current vs Fair Value

Cash, debt, and carrying capacity

Balance sheet

Cash quality

Solvency, quality, and risk

Altman Z-Score

Piotroski F-Score

Saved comparables and what they imply

Comparable companies

DCF range and implied growth

Filing and research context

Enterprise value