Clear Channel Outdoor Holdings (CCO)
NYSE:CCO
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Clear Channel Outdoor
(NYSE:CCO)
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Rating:50Neutral
Price Target:
$2.50
▲(5.04% Upside)
Action:Reiterated
Date:05/19/26
The score is held down primarily by weak financial fundamentals—persistent net losses alongside a highly leveraged capital structure with negative equity and limited deleveraging capacity. Offsetting this, technical signals are mildly constructive and recent corporate events around the pending takeover and credit amendments reduce financing/transaction risk, while valuation remains constrained by negative earnings and no stated dividend.
Positive Factors
Revenue & Operating Margins
Sustained top-line growth together with healthy EBIT/EBITDA margins indicates durable demand for out‑of‑home advertising and operational leverage. Over a 2–6 month horizon this supports ongoing cash conversion, pricing power in key markets, and resilience versus cyclical ad spending.
Negative Factors
Heavy Leverage & Negative Equity
A very large debt load and deeply negative equity materially constrain financial flexibility. Over months this raises refinancing and covenant risks, limits strategic optionality (M&A, capex), and makes the company highly sensitive to cash‑flow shocks or rate moves despite operational improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Operating Margins
Sustained top-line growth together with healthy EBIT/EBITDA margins indicates durable demand for out‑of‑home advertising and operational leverage. Over a 2–6 month horizon this supports ongoing cash conversion, pricing power in key markets, and resilience versus cyclical ad spending.
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)1.64
Revenue Growth-12.49%
EPS Growth38.34%
CountryUS
Employees4,100
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)-0.41
Shares Outstanding508,983,520
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 Cap6.12
Enterprise Value/Revenue4.55
Enterprise Value/Gross Profit9.37
Enterprise Value/Ebitda16.52
Forecast
1Y Price Target
$2.43Price Target Upside2.10% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)-0.1
Revenue Forecast (FY)$1.69B
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:Aug 11, 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
44
Neutral
Balance Sheet
12
Very Negative
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.64B | 1.60B | 1.51B | 1.43B | 1.38B | 1.77B |
| Gross Profit | 798.08M | 681.28M | 824.65M | 773.85M | 792.78M | 881.72M |
| EBITDA | 452.86M | 471.80M | 442.41M | 473.27M | 548.42M | 326.50M |
| Net Income | -205.44M | -104.65M | -179.25M | -310.92M | -96.60M | -433.81M |
Balance Sheet | ||||||
| Total Assets | 3.72B | 3.83B | 4.80B | 4.72B | 5.09B | 5.30B |
| Cash, Cash Equivalents and Short-Term Investments | 182.42M | 190.02M | 109.71M | 251.65M | 282.23M | 410.77M |
| Total Debt | 6.44B | 6.47B | 7.02B | 7.17B | 7.01B | 7.23B |
| Total Liabilities | 7.16B | 7.22B | 8.44B | 8.17B | 8.35B | 8.49B |
| Stockholders Equity | -3.44B | -3.39B | -3.65B | -3.46B | -3.28B | -3.21B |
Cash Flow | ||||||
| Free Cash Flow | 28.60M | 31.98M | -62.65M | -135.34M | -44.69M | -281.50M |
| Operating Cash Flow | 103.16M | 114.86M | 79.75M | 31.25M | 139.99M | -133.50M |
| Investing Cash Flow | -85.90M | 523.26M | -155.94M | -119.57M | -221.70M | -152.70M |
| Financing Cash Flow | -221.92M | -598.29M | -8.18M | 45.64M | -32.72M | -85.24M |
Clear Channel Outdoor Technical Analysis
Positive
2.38
Price Trends
2.38
Positive
2.30
Positive
1.96
Positive
Market Momentum
<0.01
Positive
58.25
Neutral
66.67
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 below the 20-day moving average (MA) of 2.39, below the 50-day MA of 2.38, and above the 200-day MA of 1.96, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 58.25 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $445.77M | 8.73 | 5.19% | ― | 1.06% | -52.89% | |
62 Neutral | $1.08B | 8.90 | 15.49% | 5.41% | 0.55% | 82.53% | |
62 Neutral | $985.59M | 30.98 | -10.81% | 1.29% | 14.04% | -1310.49% | |
62 Neutral | $477.17M | -0.96 | -40.17% | ― | 1.81% | 42.29% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
56 Neutral | $279.47M | -2.44 | -2.31% | 3.05% | 1.72% | 52.08% | |
50 Neutral | $1.22B | -6.00 | 5.99% | ― | -12.49% | 38.34% |
* Communication Services Sector Average
CCO
Clear Channel Outdoor
2.40
1.28
114.29%
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Clear Channel Outdoor Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Clear Channel Outdoor amends credit facility for merger
Positive
May 18, 2026
On May 15, 2026, Clear Channel Outdoor Holdings amended its existing asset-based lending credit agreement, first established in 2019, by securing lender consents to modify the definition of Change of Control so that its planned merger with Madison...
M&A TransactionsShareholder Meetings
Clear Channel Shareholders Approve Mubadala-Led Takeover Deal
Positive
May 12, 2026
At a special meeting of stockholders held on May 12, 2026, Clear Channel Outdoor shareholders approved the company’s pending acquisition by an investor consortium led by Mubadala Capital, in partnership with TWG Global, with approximately 81...
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...
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.