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Lamar Advertising Company

LAMR Real Estate Reit Specialty

Lamar Advertising Company’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 2.68% from fiscal 2024. In the quarter to June 2026, revenue grew 6.46%, EPS grew 3.95%, free cash flow grew 8.91% and total debt rose 4.43%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

150.10 2.03 +1.37%
Market cap
$15.0B
P/E
27.4×
Fwd P/E
25.6×
Dividend yield
3.23%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 3.72
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 2 — 1 — — — 1 —
Insider Ownership 14.87%

Capital & Financial Ratios $m

Market Cap 15,040.00
Revenue 2,326.23
Net Income 565.31
Free Cash Flow 739.09
Net Debt 3,457.88
Current Ratio 0.63
Debt/Equity 3.54
P/E ratio 27.39
Fwd P/E 25.60
P/S ratio 6.55
P/B ratio 15.30
Past 5Y EPS Growth 19.08% (at or above 15%: strong)
This Y EPS Growth 2.56%
Next Y EPS Growth 6.78%
Next Y revenue growth 5.77%
Next 5Y EPS Growth 7.65%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.0×, against a ten-year median of 6.6×; over the ten years it ranged from 4.6× in 2020 to 8.7× in 2021.
P/E against its own 10 years 74.79%
10-year low 10-year high
P/S against its own 10 years 91.26%
10-year low 10-year high
P/B against its own 10 years 97.12%
10-year low 10-year high
EV/Sales against its own 10 years 89.27%
10-year low 10-year high
EV/FCF against its own 10 years 96.79%
10-year low 10-year high

Dividends

Payout Ratio 0.89
Annual Dividend Rate 4.85
Annual Dividend Yield 3.23%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 6.58
1.60
1.60
1.65
2025 6.28
1.55
1.55
1.55
0.25
2024 5.40
1.30
1.30
1.40
1.40
2023 5.00
1.25
1.25
1.25
1.25
2022 3.50
1.10
1.20
1.20
0.30
2021 3.50
0.75
0.75
1.00
1.00
2020 2.50
1.00
0.50
0.50
0.50
2019 3.84
0.96
0.96
0.96
0.96
2018 3.65
0.91
0.91
0.91
0.92
2017 3.32
0.83
0.83
0.83
0.83
2016 3.02
0.75
0.75
0.76
0.76
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 45 49 65 68
Receivables 301 335 341 378
Inventory — — — —
Other 27 41 54 48
373 425 460 494
2023 2024 2025 Q'26
Payables 18 22 16 17
ST’ Debt 250 250 250 250
Other — — — —
714 778 794 787

Compound Annual Growth %

10y 5y 3y
Sales 5.29% 7.63% 3.70%
Cash Flow 6.11% 8.68% 3.40%
Earnings 8.39% 19.28% 10.22%
Book Value 0.04% (3.15%) (5.00%)

Revenue $m

Mar Jun Sep Dec Year
’26 528 617 — — —
’25 505 579 586 596 2,266
’24 498 565 564 580 2,207
’23 471 541 543 556 2,111
’22 451 518 527 536 2,032
’21 371 445 477 495 1,787
’20 407 348 386 429 1,569
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 147 252 — — —
’25 128 229 236 271 864
’24 111 256 227 279 874
’23 109 198 223 254 784
’22 102 211 224 245 782
’21 83 202 203 246 734
’20 63 148 151 208 570
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 127 213 — — —
’25 215 195 188 212 810
’24 84 235 199 237 754
’23 70 149 185 209 612
’22 74 165 184 208 630
’21 69 179 175 192 615
’20 41 138 143 196 519
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.00 1.58 — — —
’25 1.35 1.52 1.40 1.50 5.77
’24 0.76 1.34 1.44 (0.01) 3.52
’23 0.74 1.28 1.37 1.46 4.85
’22 0.91 1.32 1.44 0.65 4.31
’21 0.38 1.18 1.05 1.21 3.83
’20 0.40 0.31 0.62 1.08 2.41
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 49.73 62.45 61.36 66.15 30.89 78.06 81.10 77.21 100.15 99.84

Analyst estimates 2026–2028

Powerpack
High 69.35 79.17 80.68 89.72 96.82 123.92 124.32 112.34 139.88 134.63
People
People Employees 3,300 3,400 3,600 3,600 3,300 3,350 3,500 3,550 3,500 340
Revenue/emp, $m 0.45 0.45 0.45 0.49 0.48 0.53 0.58 0.59 0.63 6.67
Income, $m
Income, $m Revenue 1,500 1,541 1,627 1,754 1,569 1,787 2,032 2,111 2,207 2,266
Gross margin, % 64.97 64.91 65.47 66.35 64.45 67.75 67.16 66.99 67.02 67.04
EBT 312 327 316 368 248 397 456 507 367 614
EBT margin, % 20.81 21.21 19.42 20.98 15.81 22.23 22.44 24.00 16.65 27.11
Net income 299 318 305 372 243 388 439 497 363 593
Depreciation 210 216 230 255 257 277 356 300 469 333
Per share, $
Per share, $ Revenue 15.45 15.74 16.47 17.51 15.57 17.67 20.02 20.71 21.58 22.32
Earnings 3.07 3.24 3.09 3.71 2.41 3.83 4.32 4.86 3.54 5.78
Cash flow 5.37 5.18 5.72 6.30 5.66 7.26 7.70 7.69 8.54 8.51
Capex (0.99) (1.05) (1.12) (1.35) (0.51) (1.18) (1.49) (1.68) (1.17) (0.53)
Free cash flow 4.38 4.12 4.59 4.95 5.15 6.08 6.21 6.01 7.37 7.98
Book value 11.01 11.27 11.45 11.79 11.94 12.03 11.77 11.94 10.25 10.09
Shares, m 97 98 99 100 101 101 102 102 102 102
Valuation, ×
Valuation, × P/E 22.14 22.48 22.39 24.12 34.53 31.67 21.25 21.92 34.39 21.94
P/S 4.40 4.63 4.20 5.10 5.34 6.86 4.59 5.14 5.64 5.67
P/B 6.17 6.46 6.04 7.57 6.97 10.08 7.80 8.92 11.88 12.54
EV/Sales 5.94 6.21 5.96 6.78 7.12 8.50 6.20 6.71 7.08 7.16
EV/FCF 20.94 23.71 21.38 24.01 21.54 24.72 19.99 23.14 20.72 20.02
Cash, $m
Cash, $m Operating cash flow 522 507 565 631 570 734 782 784 874 864
Capex (96) (103) (111) (136) (51) (120) (151) (171) (120) (54)
Free cash flow 426 404 454 495 519 615 630 612 754 810
Balance, $m
Balance, $m Working capital 37 95 (91) (363) (167) (274) (361) (341) (353) (334)
Total debt 2,349 2,557 2,889 2,980 2,905 3,031 3,329 3,356 3,224 3,431
Net debt 2,314 2,441 2,867 2,954 2,784 2,931 3,276 3,311 3,175 3,366
Shareholders’ equity 1,070 1,103 1,132 1,180 1,203 1,217 1,195 1,217 1,048 1,025
Returns, %
Returns, % ROA 8.22 7.82 6.96 7.09 4.14 6.55 7.00 7.60 5.50 8.68
ROIC 8.11 8.03 7.20 7.83 6.43 7.85 8.08 9.32 7.87 11.02
ROE 28.55 29.20 27.28 32.16 20.40 32.05 36.33 41.08 31.92 56.62
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Lamar Advertising Company vs peers in Reit Specialty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CCI Crown Castle Inc. $34.0B 41.5× 46.8× −4.91% (below 0%: shrinking) −67.16% (below 0%: shrinking) −40.40% (below 0%: shrinking) 73.41% 46.63% Compare
IRM Iron Mountain Incorporated $33.6B 80.4× 64.9× +18.52% (above 0%: growing) n/m +58.56% (above 0%: growing) 52.76% 18.41% Compare
SBAC SBA Communications Corporation $19.5B 20.1× 27.6× +2.33% (above 0%: growing) −10.95% (below 0%: shrinking) +11.32% (above 0%: growing) 75.39% 49.19% Compare
LAMR Lamar Advertising Company $15.0B 27.4× 25.6× +6.46% (above 0%: growing) +3.95% (above 0%: growing) +8.91% (above 0%: growing) 68.51% 33.72%
WY Weyerhaeuser Company $14.0B 29.7× 56.6× −0.90% (below 0%: shrinking) +91.67% (above 0%: growing) +29.41% (above 0%: growing) 16.66% 11.94% Compare
GLPI Gaming and Leisure Properties, Inc. $11.4B 11.5× 14.4× +9.03% (above 0%: growing) +45.45% (above 0%: growing) −42.77% (below 0%: shrinking) 100.00% 77.21% Compare
RYN Rayonier Inc. $5.7B 41.3× 53.8× +272.15% (above 0%: growing) −97.72% (below 0%: shrinking) −88.66% (below 0%: shrinking) 19.08% 8.73% Compare
OUT OUTFRONT Media Inc. $5.3B 21.7× 23.1× +13.54% (above 0%: growing) +340.00% (above 0%: growing) +167.78% (above 0%: growing) 52.90% 22.22% Compare
EPR EPR Properties $4.2B 17.7× 19.0× +10.11% (above 0%: growing) −12.09% (below 0%: shrinking) −498.03% (below 0%: shrinking) 92.16% 54.59% Compare
Median of peers $12.7B 25.7× 37.2× +9.57% −10.95% −14.54% 63.16% 34.43%

All 18 Reit Specialty stocks →

Lamar Advertising Company (LAMR) key facts

  • Strength: Lamar Advertising Company’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 2.68% from fiscal 2024.
  • Strength: Net income was $593.1 million, or $5.78 per share (basic), a net margin of 25.9%.
  • Lamar Advertising Company (LAMR) is a Reit Specialty company in the Real Estate sector, listed on Nasdaq.
  • As of October 16, 2026, LAMR traded at $150.10, a market capitalization of $15.0 billion.
  • At that price the stock trades at 27.4× trailing-twelve-month earnings and 6.5× sales; its P/E is higher than 75% of its own readings over the past ten years.
  • Lamar Advertising Company pays an annual dividend of $4.85 per share, a yield of 3.23%, with a payout ratio of 88.5%.
  • Return on equity was 56.6% and debt-to-equity 3.54.
  • Its Piotroski F-score is 7 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/LAMR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com