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. In the quarter to June 2026, revenue fell 10.9%, EPS grew 167.7%, free cash flow fell 36.2% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.

6.42 0.31 −4.61%
Market cap
$150.0M
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

Insider Decisions trades per month

Total buys 13.89
Total sells 0.48
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — 5 5 — 5 3 — — — —
Sell — — — — 1 — — 1 — — — —
Insider Ownership 78.68%

Capital & Financial Ratios $m

Market Cap 150.03
Revenue 517.10
Net Income (7.49)
Free Cash Flow 1.13
Net Debt 395.29
Current Ratio 1.17
Debt/Equity 11,659.36 (above 2: weak)
P/E ratio 0.00
Fwd P/E (4.76) (negative: loss-making)
P/S ratio 0.28
P/B ratio 3,659.73 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 17.70% (at or above 15%: strong)
Next Y EPS Growth 51.68% (at or above 15%: strong)
Next Y revenue growth 4.44%
Next 5Y EPS Growth 3.00%

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

Valuation vs history

P/S against its own 10 years 89.35%
10-year low 10-year high
P/B against its own 10 years 90.84%
10-year low 10-year high
EV/Sales against its own 10 years 60.27%
10-year low 10-year high
EV/FCF against its own 10 years 97.00%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
special payouts not included in total or ratios

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%

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.

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) (0.21)
’21 2.80 (0.19) 0.55 0.75 3.91
’20 0.90 (0.90) (0.20) (0.30) (0.50)
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

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 11.50 17.50 18.40 12.00 7.10 12.30 15.70 7.56 7.57 3.34

Analyst estimates 2026–2028

Powerpack
High 39.20 33.00 33.00 36.90 30.90 41.00 44.43 23.51 19.63 15.15
People
People Employees 3,976 3,626 3,056 2,954 5,613 5,130 4,365 3,342 3,047 2,500
Revenue/emp, $m 0.15 0.16 0.18 0.17 0.11 0.15 0.18 0.21 0.20 0.22
Income, $m
Income, $m Revenue 614 567 544 510 618 795 781 691 611 562
Gross margin, % 58.35 58.02 58.80 59.77 56.75 54.61 55.45 57.71 58.88 59.28
EBT 58 40 31 24 3 32 1 (3) (31) (43)
EBT margin, % 9.47 7.09 5.67 4.68 0.46 4.03 0.10 (0.45) (5.10) (7.58)
Net income 36 29 47 16 0 25 0 (3) (24) (36)
Depreciation 43 41 38 29 36 43 37 38 35 26
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
Earnings 6.60 5.10 8.40 2.60 (0.50) 3.99 (0.21) (0.90) (4.35) (6.20)
Cash flow 14.89 13.39 10.84 10.38 8.82 8.76 0.49 (0.54) 0.19 (0.91)
Capex 0.52 (0.28) 0.11 (0.79) 2.41 (0.50) 1.26 1.17 0.71 1.27
Free cash flow 15.41 13.11 10.95 9.59 11.22 8.26 1.76 0.62 0.90 0.36
Book value (23.97) (16.89) (6.63) (6.63) (5.24) 7.56 2.98 4.04 (1.23) (6.75)
Shares, m 5 5 5 6 6 6 6 6 6 6
Valuation, ×
Valuation, × P/E 5.68 4.31 3.27 8.16 0.00 5.67 0.00 0.00 0.00 0.00
P/S 0.32 0.21 0.27 0.22 0.08 0.16 0.13 0.09 0.08 0.06
P/B 0.00 0.00 0.00 0.00 0.00 2.99 5.90 2.62 0.00 0.00
EV/Sales 1.26 1.12 1.12 1.05 0.89 0.74 0.71 0.74 0.80 0.85
EV/FCF 9.43 8.97 10.20 10.08 8.70 12.41 54.76 139.49 91.46 220.79
Cash, $m
Cash, $m Operating cash flow 79 72 59 58 50 50 3 (3) 1 (6)
Capex 3 (1) 1 (4) 14 (3) 7 7 4 8
Free cash flow 82 71 60 53 63 47 10 4 5 2
Balance, $m
Balance, $m Working capital (22) (30) (6) (1) (35) (33) (22) (8) (18) (24)
Total debt 591 527 468 432 538 483 463 456 446 455
Net debt 574 516 462 424 505 457 446 441 436 445
Shareholders’ equity (128) (91) (36) (37) (30) 43 17 24 (7) (41)
Returns, %
Returns, % ROA 4.96 4.28 7.65 2.52 (0.28) 2.66 (0.25) (0.72) (3.80) (6.01)
ROIC 14.56 13.12 12.57 12.07 6.62 7.07 3.35 5.00 0.66 (0.72)
ROE (24.44) (25.13) (71.81) (39.04) 5.94 334.56 (6.67) (25.73) (315.72) 155.69
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

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 $11.1B 28.0× 28.6× +11.17% (above 0%: growing) +13.73% (above 0%: growing) +78.27% (above 0%: growing) 51.76% 15.48% Compare
PSO Pearson, PLC $10.7B 18.8× — +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. $2.7B 13.7× 11.2× −2.63% (below 0%: shrinking) n/m +30.28% (above 0%: growing) 73.89% 0.76% Compare
WLYB John Wiley & Sons, Inc. $2.1B 13.7× — −2.63% (below 0%: shrinking) n/m +30.28% (above 0%: growing) 73.89% 0.76% Compare
TDAY USA TODAY Co., Inc. $1.1B — (loss-making) 26.6× −8.30% (below 0%: shrinking) −88.89% (below 0%: shrinking) +1.14% (above 0%: growing) 38.83% 3.73% Compare
SCHL Scholastic Corporation $711.5M 24.9× 16.2× −3.90% (below 0%: shrinking) n/m −18.41% (below 0%: shrinking) 45.53% (42.53%) Compare
LEE Lee Enterprises, Incorporated $150.0M — (loss-making) — (loss-making) −10.85% (below 0%: shrinking) n/m −36.16% (below 0%: shrinking) 62.43% 6.85%
EDUC Educational Development Corporation $9.3M 5.3× 10.4× −11.92% (below 0%: shrinking) n/m −61.99% (below 0%: shrinking) 59.73% (38.41%) Compare
TNMG TNL Mediagene $2.5M 13.1× — — +25.00% (above 0%: growing) −233.71% (below 0%: shrinking) — — Compare
Median of peers $1.6B 13.7× 16.2× −2.63% +19.37% +15.71% 51.76% 0.76%

All 9 Publishing stocks →

Lee Enterprises, Incorporated (LEE) key facts

  • Concern: Lee Enterprises, Incorporated’s revenue for fiscal 2025 (year ended September 2025) was $562.3 million, down 8.02% from fiscal 2024.
  • Lee Enterprises, Incorporated (LEE) is a Publishing company in the Communication Services sector, listed on Nasdaq.
  • As of October 16, 2026, LEE traded at $6.42, a market capitalization of $150.0 million.
  • Return on equity was 155.7% and debt-to-equity 11659.36.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 0.12 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Lee Enterprises, Incorporated (LEE) Latest News

20 Jun

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