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Lee Enterprises, Incorporated

LEE Communication Services Publishing

Lee Enterprises, Incorporated’s revenue for fiscal 2025 (year ended September 2025) was $562.3 million, down 8.02% from fiscal 2024.

Revenue
−10.9%
EPS
+167.7%
Free cash flow
−36.2%
Total debt
−0.25%

Quarter to June 2026, against a year earlier

7.07 0.48 +7.28%
Market cap
$156.0M
P/E
0.0×
Fwd P/E
−4.8×
Dividend yield
—
F-score
3/9
Altman Z
0.12
Beneish M
−2.83
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 13.89
Sold, $m 0.48
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 5 5 — 5 3 — — — — —
Sell — — — 1 — — 1 — — — — —
Insider Ownership 78.68%

Capital & Financial Ratios $m

Size
Market Cap 156.04
Revenue ttm 517.10
Net income ttm (7.49)
Free cash flow ttm 1.13
Net debt Q 395.29
Valuation
P/E 0.00
Forward P/E (4.76) (negative: loss-making)
Price / sales 0.30
Forward P/S Powerpack
Price / FCF 139.59
Price / book 4,030.26 (above 6: high)
Financial health
Current ratio Q 1.17
Debt / equity Q 11,659.36 (above 2: weak)
Interest coverage Q 1.55
Growth
Revenue growth Q −10.85% (below 0%: shrinking)
Operating income growth Q +85.16% (above 0%: growing)
EPS, this year +17.70% (at or above 15%: strong)
EPS, next year A +51.68% (at or above 15%: strong)
Revenue, next year A +4.44%
EPS, past 5 yrs —
EPS, next 5 yrs A +3.00%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 0.9×; over the ten years it ranged from 0.7× in 2023 to 1.3× in 2016.
P/S against its own 10 years 94.54%
10-year low 10-year high
P/B against its own 10 years 92.42%
10-year low 10-year high
EV/Sales against its own 10 years 63.84%
10-year low 10-year high
EV/FCF against its own 10 years 97.48%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 15 10 10 59
Receivables 69 61 55 45
Inventory 8 6 5 6
Other 15 22 20 11
107 98 89 121
2023 2024 2025 Q'26
Payables 36 36 42 46
ST’ Debt — — — —
Other — — — —
114 115 113 104

Compound Annual Growth %

10y 5y 3y
Sales (1.42%) (1.87%) (10.37%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY25 Estimate −0.13 Actual −0.31

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY24 0.65 −1.69 Miss by 2.34
Q1 FY25 −0.40 −2.80 Miss by 2.40
Q2 FY25 −0.58 −2.07 Miss by 1.49
Q3 FY25 −0.13 −0.31 Miss by 0.18

EPS $

Dec Mar Jun Sep Year
’26 (0.92) (0.16) 0.21 — —
’25 (2.80) (2.07) (0.31) (1.06) (6.20)
’24 0.12 (2.06) (0.73) (1.69) (4.35)
’23 0.19 (1.01) 0.25 (0.32) (0.90)
’22 2.17 (1.26) (0.05) (1.09) (0.35)
’21 2.80 (0.19) 0.55 0.75 3.91
’20 0.90 (0.90) (0.20) (0.30) (0.35)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 130 122 126 — —
’25 145 137 141 139 562
’24 156 147 151 159 611
’23 185 171 171 164 691
’22 202 190 195 194 781
’21 212 192 196 194 795
’20 122 121 183 192 618
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 4 (6) 8 — —
’25 (7) (1) 9 (6) (6)
’24 0 3 (2) 0 1
’23 (2) 3 (3) (1) (3)
’22 1 (1) 1 2 3
’21 19 20 4 7 50
’20 10 0 27 12 50
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 4 (6) 7 — —
’25 (3) (1) 11 (4) 2
’24 2 1 (2) 3 5
’23 1 3 (2) 2 4
’22 13 (4) 0 0 10
’21 19 20 1 7 47
’20 8 15 26 15 63
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 614 567 544 510 618 795 781 691 611 562 517 (1.0%) 587 — — +4.4%
Gross margin, % 58.35 58.02 58.80 59.77 56.75 54.61 55.45 57.71 58.88 59.28 60.62 +0.9 pt
EBT 58 40 31 24 3 32 1 (3) (31) (43) (7) n/m
EBT margin, % 9.47 7.09 5.67 4.68 0.46 4.03 0.10 (0.45) (5.10) (7.58) (1.42) (17.0) pt
Net income 36 29 47 16 0 25 0 (3) (24) (36) (7) n/m
Per share, $
Per share, $ Revenue 115.49 105.01 99.44 91.75 109.25 139.00 135.14 117.80 102.86 92.70 23.26 (2.4%)
Earnings 6.60 5.10 8.40 2.60 (0.35) 3.99 (0.35) (0.90) (4.35) (6.20) (1.93) n/m
Cash flow 14.89 13.39 10.84 10.38 8.82 8.76 0.49 (0.54) 0.19 (0.91) (0.01) n/m
Capex 0.52 (0.28) 0.11 (0.79) 2.41 (0.50) 1.26 1.17 0.71 1.27 0.06 +10.3%
Free cash flow 15.41 13.11 10.95 9.59 11.22 8.26 1.76 0.62 0.90 0.36 0.05 (34.2%)
Book value (23.97) (16.89) (6.63) (6.63) (5.24) 7.56 2.98 4.04 (1.23) (6.75) 0.00 (13.1%)
Shares, m 5 5 5 6 6 6 6 6 6 6 12 +1.5%
Valuation, ×
Valuation, × P/E 5.68 4.31 3.27 8.16 0.00 5.67 0.00 0.00 0.00 0.00 0.00 2.7
P/S 0.32 0.21 0.27 0.22 0.08 0.16 0.13 0.09 0.08 0.06 0.30 0.2
P/B 0.00 0.00 0.00 0.00 0.00 2.99 5.90 2.62 0.00 0.00 4,030.26 1.2
EV/Sales 1.26 1.12 1.12 1.05 0.89 0.74 0.71 0.74 0.80 0.85 1.07 0.9
EV/FCF 9.43 8.97 10.20 10.08 8.70 12.41 54.76 139.49 91.46 220.79 491.01 56.6
Cash, $m
Cash, $m Operating cash flow 79 72 59 58 50 50 3 (3) 1 (6) 0 n/m
Capex 3 (1) 1 (4) 14 (3) 7 7 4 8 1 +12.0%
Free cash flow 82 71 60 53 63 47 10 4 5 2 1 (33.2%)
Balance, $m
Balance, $m Working capital (22) (30) (6) (1) (35) (33) (22) (8) (18) (24) 17 +1.1%
Net debt 574 516 462 424 505 457 446 441 436 445 395 (2.8%)
Shareholders’ equity (128) (91) (36) (37) (30) 43 17 24 (7) (41) 0 (11.9%)
Returns, %
Returns, % ROA 4.96 4.28 7.65 2.52 (0.28) 2.66 (0.25) (0.72) (3.80) (6.01) (1.52) (11.0) pt
ROIC 14.56 13.12 12.57 12.07 6.62 7.07 3.35 5.00 0.66 (0.72) 3.31 (15.3) pt
ROE (24.44) (25.13) (71.81) (39.04) 5.94 334.56 (6.67) (25.73) (315.72) 155.69 49.78 +180.1 pt
People
People Employees 3,976 3,626 3,056 2,954 5,613 5,130 4,365 3,342 3,047 2,500 — (5.0%)
Revenue/emp, $m 0.15 0.16 0.18 0.17 0.11 0.15 0.18 0.21 0.20 0.22 — +4.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Lee Enterprises, Incorporated vs peers in Publishing (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
NYT The New York Times Company $10.6B 25.8× 27.1× +9.66% (above 0%: growing) +20.70% (above 0%: growing) −14.82% (below 0%: shrinking) 51.41% 15.87% Compare
PSO Pearson, PLC $10.5B 18.0× — +7.23% (above 0%: growing) +1,083.81% (above 0%: growing) +1,102.06% (above 0%: growing) 48.91% 0.00% Compare
WLY John Wiley & Sons, Inc. $2.6B 13.1× 15.7× −2.63% (below 0%: shrinking) n/m +30.28% (above 0%: growing) 73.89% 0.76% Compare
WLYB John Wiley & Sons, Inc. $2.1B 13.2× — −2.63% (below 0%: shrinking) n/m +30.28% (above 0%: growing) 73.89% 0.76% Compare
TDAY USA TODAY Co., Inc. $898.5M — (loss-making) 21.0× −7.41% (below 0%: shrinking) n/m −28.17% (below 0%: shrinking) 35.06% 0.00% Compare
SCHL Scholastic Corporation $678.6M 24.4× 30.9× −3.90% (below 0%: shrinking) n/m −18.41% (below 0%: shrinking) 45.53% (42.53%) Compare
LEE Lee Enterprises, Incorporated $156.0M — (loss-making) — (loss-making) −10.85% (below 0%: shrinking) n/m −36.16% (below 0%: shrinking) 62.43% 6.85%
EDUC Educational Development Corporation $8.4M 5.2× 10.4× −11.92% (below 0%: shrinking) n/m −1,474.93% (below 0%: shrinking) 59.73% (38.41%) Compare
TNMG TNL Mediagene $2.2M 12.4× — — +25.00% (above 0%: growing) −233.71% (below 0%: shrinking) — — Compare
Median of peers $1.5B 13.2× 21.0× −2.63% +25.00% −16.62% 51.41% 0.00%

All 9 Publishing stocks →

Pay and ownership Proxy statement filed 5 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.15m 737.83k 64.85
2024 1.11m 834.60k 42.70
2023 1.33m 778.26k 40.42

Ownership

Directors and executive officers, together 54.20%
David Hoffmann 52.00%
Quint Digital Limited 14.00%
Solas Capital Management, LLC 8.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Lee Enterprises, Incorporated (LEE) Latest News

27 Oct

Impact 3 · · GlobeNewswire

20 Oct

Impact 4 · · GlobeNewswire

30 Sep

Impact 3 · · GlobeNewswire

28 Sep

Impact 4 ·
Impact 3 ·

7 Aug

Impact 3 · · Moby transcript
Impact 3 ·
Impact 3 ·

6 Aug

Impact 4 ·

22 Jun

Impact 3 · · MarketBeat

7 May

Impact 4 · · Moby
Impact 4 · · GlobeNewswire

24 Apr

Impact 4 · · GlobeNewswire

10 Feb

Impact 4 · · GuruFocus.com transcript
Impact 4 · · Moby transcript
Impact 4 ·
Impact 3 · · The Motley Fool transcript

9 Feb

Impact 3 · · GlobeNewswire

5 Feb

Impact 4 · · GlobeNewswire

30 Dec

Impact 4 · · Associated Press Finance
Impact 4 · · GlobeNewswire

26 Nov

Impact 4 · · GuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.com
Impact 4 · · GlobeNewswire

10 Nov

Impact 4 · · GlobeNewswire

20 Jun

Impact 3 ·

9 May

Impact 4 · · GuruFocus.com

8 May

Impact 4 · · GlobeNewswire

26 Mar

Impact 4 · · GlobeNewswire

20 Mar

Impact 4 ·

18 Mar

Impact 4 · · GlobeNewswire
stockrow.com/LEE · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com