HT&E Ltd (A1N) AI Stock Analysis

• Market Cap: AU$115.43M
• Dividend Yield: N/A
• Average Volume (3M): 66.57K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Communication Services
• Sector Strength: 97
• Industry: Broadcasting
• EPS (TTM): <0.01
• Shares Outstanding: 313,050,380
• 10 Day Avg. Volume: 51,071
• 30 Day Avg. Volume: 66,566
• PEG Ratio: -0.41
• Price to Book (P/B): 0.88
• Price to Sales (P/S): 0.61
• P/FCF Ratio: 6.19
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$0.37
• Price Target Upside: -9.76% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: AU$0.35 ▼(-13.66% Downside)

The score is held back primarily by elevated balance-sheet risk (materially higher leverage) and multi-year earnings volatility despite a 2024 rebound and positive free cash flow. Technicals remain weak with the price below key moving averages and a negative MACD. A supportive dividend yield helps, but the negative P/E and uneven profitability limit the valuation upside.

HT&E Ltd Business Overview & Revenue Model

Company Description

ARN Media Limited, together with its subsidiaries, operates as a media and entertainment company in Australia and Hong Kong. The company operates through Australian Radio Network, HK Outdoor, and Investments segments. It owns and operates Australian Radio Network under the KIIS, Pure Gold, iHeart Podcast, and CADA brands. The company engages in audio and digital businesses. In addition, it operates iHeartRadio, a music, streaming, and podcasting distribution platform. Further, the company offers billboard; and transit and other outdoor advertising services. The company was formerly known as HT&E Limited and changed its name to ARN Media Limited in May 2023. ARN Media Limited was incorporated in 1988 and is based in North Sydney, Australia.

How the Company Makes Money

HT&E Ltd Financial Statement Overview

Summary

2024 shows a rebound (revenue up and a small profit) and free cash flow improved to positive. However, results have been highly volatile across years, leverage stepped up sharply in 2024 (debt ~1.78x equity), and cash flow quality is harder to assess given the $0 operating cash flow reporting across periods.

Income Statement

Revenue recovered in 2024 ($365.6m vs $334.3m in 2023), but profitability remains thin and volatile. After large losses in 2022 and a smaller loss in 2023, 2024 returned to a small profit ($3.9m) with modest operating profitability (about 6.0% operating margin and 19.6% EBITDA margin). The key weakness is the multi-year earnings instability—swinging from healthy profit in 2021 to heavy losses in 2022—suggesting the earnings base is not yet consistently durable.

Balance Sheet

Leverage increased materially in 2024: total debt rose to $454.5m and debt relative to equity moved to ~1.78x (from ~0.59x in 2023). Equity also stepped down versus prior years ($255.1m in 2024 vs $458.7m in 2021), and returns on equity are low (about 1.5% in 2024) after negative returns in 2022–2023. The primary strength is a still sizable asset base ($907.0m), but the sharp rise in leverage meaningfully raises financial risk.

Cash Flow

Free cash flow was positive in 2024 ($36.3m) and improved versus 2023 (slightly negative), which is a clear positive. However, operating cash flow is reported as $0 across all periods provided, limiting confidence in cash generation quality and making cash flow coverage comparisons uninformative. Overall, cash performance looks uneven (positive in 2021, 2022, and 2024; near-zero/negative in 2023) and the operating cash flow reporting gap is a notable concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	339.93M	365.65M	334.29M	344.89M	224.62M
Gross Profit	121.30M	365.65M	334.29M	344.89M	224.62M
EBITDA	66.45M	71.79M	-1.20M	-166.01M	69.95M
Net Income	-13.47M	3.86M	-9.77M	-176.34M	14.83M
Balance Sheet
Total Assets	835.29M	907.04M	655.66M	674.47M	783.57M
Cash, Cash Equivalents and Short-Term Investments	15.48M	18.76M	18.86M	23.85M	257.07M
Total Debt	160.67M	454.52M	163.19M	122.77M	98.87M
Total Liabilities	562.50M	615.65M	322.41M	315.07M	288.23M
Stockholders Equity	237.98M	255.14M	276.33M	323.63M	458.69M
Cash Flow
Free Cash Flow	68.32M	36.25M	-197.00K	11.63M	35.34M
Operating Cash Flow	74.43M	0.00	0.00	0.00	0.00
Investing Cash Flow	-5.16M	-10.82M	8.35M	-221.35M	120.61M
Financing Cash Flow	-63.36M	-40.69M	-33.98M	-31.87M	32.70M

HT&E Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
OML	58 Neutral	AU$670.78M	34.49	2.70%	4.29%	9.25%	-42.79%
GTN	52 Neutral	AU$54.34M	-9.19	-2.90%	86.34%	-2.19%	-210.32%
A1N	44 Neutral	AU$115.43M	-8.41	-0.27%	―	―	―

HT&E Ltd Corporate Events

ARN Media Sells Down Southern Cross Stake, Exits as Substantial Shareholder

ARN Media Limited and its associated entities have ceased to be substantial shareholders in Southern Cross Media Group after disposing of 7,196,974 fully paid ordinary shares on-market on 22 January 2026 for approximately $4.79 million. The sale, executed through subsidiary Gulgong Pty Limited, reduces ARN Media’s voting power in Southern Cross Media below the substantial holder threshold, signalling a strategic retreat from its previous investment position in the rival broadcaster and potentially reshaping competitive and ownership dynamics in Australia’s commercial radio sector.

The most recent analyst rating on (AU:A1N) stock is a Sell with a A$0.37 price target. To see the full list of analyst forecasts on HT&E Ltd stock, see the AU:A1N Stock Forecast page.

HT&E Ltd Ceases to be a Substantial Holder in ARN Media

HT&E Ltd has announced that it is no longer a substantial holder of ARN Media Limited, as indicated in the recent notice of ceasing to be a substantial holder. This change involves the sale of 40,803,132 ordinary shares at $0.44 per share, impacting the company’s stake and voting power in ARN Media Limited.

The most recent analyst rating on (AU:A1N) stock is a Sell with a A$0.40 price target. To see the full list of analyst forecasts on HT&E Ltd stock, see the AU:A1N Stock Forecast page.

ARN Media Faces Revenue Decline Amid Market Challenges, Implements Strategic Transformation

ARN Media Limited has reported a decline in revenue due to significant softness in the Australian advertising market, influenced by economic uncertainty and cautious client sentiment. Despite these challenges, ARN is implementing a transformation program aimed at cost reduction and operational improvements, with a focus on long-term sustainable growth. The company has already actioned $35 million of a planned $40 million in cost-saving initiatives and expects a full-year EBITDA decline of 25%-27% compared to the previous year. ARN is also evolving its strategy to better align with market dynamics, including leadership improvements, digital capability enhancements, and significant product upgrades.

The most recent analyst rating on (AU:A1N) stock is a Sell with a A$0.40 price target. To see the full list of analyst forecasts on HT&E Ltd stock, see the AU:A1N Stock Forecast page.