Clear Channel Outdoor Holdings (CCO)
NYSE:CCO
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Clear Channel Outdoor
(NYSE:CCO)
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Rating:52Neutral
Price Target:
$2.50
▲(5.04% Upside)
Action:ReiteratedDate:04/14/26
The score is driven primarily by weak financial fundamentals (high leverage/negative equity and ongoing losses) despite a notable rebound in cash generation. Technicals are neutral-to-slightly supportive, while the buyout and debt amendments provide a meaningful positive catalyst that partially offsets valuation limitations from negative earnings.
Positive Factors
Improved cash generation
Sustained positive operating and free cash flow in 2025 represents a material inflection for a previously cash-negative company. Durable cash generation improves the firm’s ability to service debt, fund digital conversion, and execute deleveraging under private ownership, reducing refinancing dependence over the medium term.
Negative Factors
Highly leveraged balance sheet
Very large outstanding debt and negative equity materially constrain financial flexibility. Interest expense and principal maturities increase refinancing risk and limit room for capex or M&A, making long-term operational plans and investment in digital conversion more dependent on successful deleveraging execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
Sustained positive operating and free cash flow in 2025 represents a material inflection for a previously cash-negative company. Durable cash generation improves the firm’s ability to service debt, fund digital conversion, and execute deleveraging under private ownership, reducing refinancing dependence over the medium term.
Read all positive factors
Clear Channel Outdoor (CCO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.22B
Dividend YieldN/A
Average Volume (3M)2.09M
Price to Earnings (P/E)―
Beta (1Y)1.66
Revenue Growth-20.82%
EPS Growth23.43%
CountryUS
Employees4,100
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)0.02
Shares Outstanding506,416,350
10 Day Avg. Volume2,733,082
30 Day Avg. Volume2,086,430
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)-0.32
Price to Sales (P/S)0.68
P/FCF Ratio34.33
Enterprise Value/Market Cap6.15
Enterprise Value/Revenue4.66
Enterprise Value/Gross Profit9.21
Enterprise Value/Ebitda16.87
Forecast
1Y Price Target
$2.43Price Target Upside2.10% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)-0.1
Revenue Forecast (FY)$1.68B
Clear Channel Outdoor Business Overview & Revenue Model
Company Description
Clear Channel Outdoor Holdings, Inc. owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, includ...
How the Company Makes Money
CCO primarily makes money by selling advertising placements on its out-of-home inventory. Its core revenue stream is advertising sales to local, regional, and national advertisers (directly and through advertising agencies) who pay for the right t...
Clear Channel Outdoor Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook for Clear Channel Outdoor Holdings, with strong revenue growth, successful international divestitures, and effective debt management. The company highlighted its strategic focus on the U.S. market and digital capabilities, while acknowledging challenges in specific markets like Los Angeles and potential impacts from government shutdowns.Positive Updates
Record Revenue Growth
Clear Channel Outdoor Holdings reported a consolidated revenue of $405.6 million, marking an 8.1% year-over-year increase. This growth was driven by the Americas segment, which grew 5.9%, and the Airports segment, which grew 16.1%.
Negative Updates
Challenges in Los Angeles Market
The Los Angeles market faced challenges due to disruptions in the entertainment industry and natural disasters. The entertainment vertical has been a laggard for the year.
Read all updates
Q3-2025 Updates
Positive
Negative
Record Revenue Growth
Clear Channel Outdoor Holdings reported a consolidated revenue of $405.6 million, marking an 8.1% year-over-year increase. This growth was driven by the Americas segment, which grew 5.9%, and the Airports segment, which grew 16.1%.
Read all positive updates
Company Guidance
During the third quarter 2025 earnings call for Clear Channel Outdoor Holdings, Inc., it was reported that the company achieved a consolidated revenue of $405.6 million, marking an 8.1% year-over-year increase. The Americas segment grew by 5.9%, while the Airports segment saw a 16.1% increase in revenue. Adjusted EBITDA for the quarter was $132.5 million, up 9.5%, and AFFO rose by 62.5% to $30.5 million. The company reaffirmed its full-year guidance, expecting consolidated revenue between $1.584 billion and $1.599 billion, with adjusted EBITDA anticipated at $490 million to $505 million. Additionally, Clear Channel highlighted its financial strategy of reducing debt, aiming for an adjusted EBITDA growth of 6% to 8% and achieving $200 million in AFFO with a net leverage of 7 to 8x by the end of 2028. The company also noted the successful completion of several international divestitures, contributing to nearly $900 million in proceeds, and emphasized its ongoing efforts to enhance digital capabilities and customer-centric strategies to drive revenue growth.Clear Channel Outdoor Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
12
Very Negative
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.60B | 1.51B | 1.43B | 1.38B | 1.77B |
| Gross Profit | 681.28M | 824.65M | 773.85M | 792.78M | 881.72M |
| EBITDA | 471.80M | 442.41M | 473.27M | 548.42M | 326.50M |
| Net Income | -104.65M | -179.25M | -310.92M | -96.60M | -433.81M |
Balance Sheet | |||||
| Total Assets | 3.83B | 4.80B | 4.72B | 5.09B | 5.30B |
| Cash, Cash Equivalents and Short-Term Investments | 190.02M | 109.71M | 251.65M | 282.23M | 410.77M |
| Total Debt | 6.47B | 7.02B | 7.17B | 7.01B | 7.23B |
| Total Liabilities | 7.22B | 8.44B | 8.17B | 8.35B | 8.49B |
| Stockholders Equity | -3.39B | -3.65B | -3.46B | -3.28B | -3.21B |
Cash Flow | |||||
| Free Cash Flow | 31.98M | -62.65M | -135.34M | -44.69M | -281.50M |
| Operating Cash Flow | 114.86M | 79.75M | 31.25M | 139.99M | -133.50M |
| Investing Cash Flow | 523.26M | -155.94M | -119.57M | -221.70M | -152.70M |
| Financing Cash Flow | -598.29M | -8.18M | 45.64M | -32.72M | -85.24M |
Clear Channel Outdoor Technical Analysis
Positive
2.38
Price Trends
2.37
Positive
2.22
Positive
1.82
Positive
Market Momentum
<0.01
Positive
52.60
Neutral
58.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CCO, the sentiment is Positive. The current price of 2.38 is above the 20-day moving average (MA) of 2.38, above the 50-day MA of 2.37, and above the 200-day MA of 1.82, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.60 is Neutral, neither overbought nor oversold. The STOCH value of 58.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CCO.
Clear Channel Outdoor Risk Analysis
Clear Channel Outdoor disclosed 31 risk factors in its most recent earnings report. Clear Channel Outdoor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clear Channel Outdoor Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $411.22M | 15.61 | 5.19% | ― | -0.19% | -19.52% | |
69 Neutral | $1.36B | 11.93 | 13.07% | 5.41% | 0.55% | 53.33% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | $932.15M | -28.94 | -8.24% | 1.29% | 16.20% | -167.47% | |
56 Neutral | $434.40M | -1.25 | -34.48% | ― | -1.15% | 46.59% | |
52 Neutral | $1.22B | -10.49 | 2.74% | ― | -20.82% | 23.43% | |
50 Neutral | $333.01M | -34.56 | -2.86% | 3.05% | 1.04% | 53.10% |
* Communication Services Sector Average
CCO
Clear Channel Outdoor
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1.42
143.90%
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Clear Channel Outdoor Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Clear Channel Amends Debt Terms Ahead of Madison Merger
Positive
Apr 13, 2026
On April 9–10, 2026, Clear Channel Outdoor Holdings, Inc. executed supplemental indentures for its 2030, 2031 and 2033 senior secured notes and a Seventh Amendment to its credit agreement, after securing requisite consents from noteholders a...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Clear Channel Outdoor Launches Consent Solicitation Ahead of Merger
Neutral
Apr 6, 2026
On April 6, 2026, Clear Channel Outdoor launched a consent solicitation for three series of senior secured notes maturing in 2030, 2031 and 2033, seeking bondholder approval for amendments to their indentures tied to its planned merger with Madiso...
M&A Transactions
Clear Channel Go-Shop Period Ends, Merger Path Solidifies
Neutral
Mar 27, 2026
On March 26, 2026, the 45-day go-shop period under Clear Channel Outdoor’s merger agreement with Madison Parent Inc. and its subsidiary expired, following outreach by financial advisors to 46 potential buyers. Seven parties signed non-disclo...
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsPrivate Placements and Financing
Clear Channel Outdoor Agrees to Mubadala-Led Buyout Deal
Positive
Feb 9, 2026
On February 9, 2026, Clear Channel Outdoor agreed to be acquired by an investor consortium led by Mubadala Capital in partnership with TWG Global, in an all-cash transaction valuing the company at an enterprise value of $6.2 billion. The deal, una...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.