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iHeartMedia
(NASDAQ:IHRT)
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Rating:47Neutral
Price Target:
$3.50
▼(-1.13% Downside)
Action:Reiterated
Date:08/11/26
The score is held down primarily by weak financial fundamentals—persistent losses and a highly leveraged, negative-equity balance sheet—despite positive operating/free cash flow. The earnings call provides a partial offset with strong digital momentum, improved free cash flow, and reaffirmed targets, but reliance on political/macro conditions and multiplatform weakness temper confidence. Technically, the stock remains below major moving averages with negative MACD, reinforcing a cautious overall view.
Positive Factors
Digital Audio & Podcast Growth
Sustained double-digit digital audio and podcast growth reflects a structural shift in revenue mix toward higher-growth, higher-margin digital formats. Podcasts' scale and local sales integration improve monetization durability and reduce dependency on cyclical broadcast ad spend.
Negative Factors
Highly Levered Balance Sheet
A very high debt load and negative equity are persistent constraints that raise refinancing, covenant and interest-rate sensitivity. Even with improving cash flow, the capital structure limits strategic flexibility and makes sustained deleveraging essential for long-term stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Digital Audio & Podcast Growth
Sustained double-digit digital audio and podcast growth reflects a structural shift in revenue mix toward higher-growth, higher-margin digital formats. Podcasts' scale and local sales integration improve monetization durability and reduce dependency on cyclical broadcast ad spend.
Read all positive factors
iHeartMedia (IHRT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$471.42M
Dividend YieldN/A
Average Volume (3M)830.16K
Price to Earnings (P/E)―
Beta (1Y)1.88
Revenue Growth3.06%
EPS Growth24.95%
CountryUS
Employees8,500
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)-1.83
Shares Outstanding133,699,130
10 Day Avg. Volume594,073
30 Day Avg. Volume830,165
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)-0.35
Price to Sales (P/S)0.17
P/FCF Ratio59.17
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$2.25Price Target Upside-36.44% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)-0.14
Revenue Forecast (FY)$4.15B
iHeartMedia Business Overview & Revenue Model
Company Description
iHeartMedia, Inc. operates as an audio media company in the United States. It operates in three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations; ...
How the Company Makes Money
iHeartMedia primarily makes money by selling advertising and sponsorships across its broadcast and digital audio inventory, with additional revenue from events and other ancillary activities.
1) Broadcast advertising (radio): A significant portio...
iHeartMedia Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call presented strong momentum in the company’s digital businesses—particularly podcasting and programmatic initiatives—with above‑guidance consolidated revenue (+4.7%), robust Digital Audio growth (+12.4% revenue, +14.5% EBITDA) and a swing to positive free cash flow ($46M). Management reaffirmed full‑year targets and outlined clear growth levers (video podcast distribution, programmatic, DSP integrations). Offsetting these positives, the multiplatform group showed a marked EBITDA decline (from $96M to $59M), SG&A rose due to co‑marketing partnerships, and results and guidance remain meaningfully dependent on a strong political ad season and macro stabilization. Overall, the strengths in digital growth, cash flow improvement, and clear strategic actions outweigh the near‑term multiplatform pressures and reliance on political revenue.Positive Updates
Consolidated Revenue Beat
Consolidated revenue of $977M in Q2, up 4.7% year-over-year and above guidance (up low-single digits); excluding political revenue consolidated revenue was up 3.5%.
Negative Updates
Multiplatform Group Revenue and EBITDA Weakness
Multiplatform group revenue was $536M, down 1.6% YoY (down 2.8% excluding political) and slightly below guidance. Multiplatform adjusted EBITDA fell to $59M from $96M a year ago (a decline of roughly 37.5%), driven largely by noncash marketing expenses and weaker ad demand.
Read all updates
Q2-2026 Updates
Positive
Negative
Consolidated Revenue Beat
Consolidated revenue of $977M in Q2, up 4.7% year-over-year and above guidance (up low-single digits); excluding political revenue consolidated revenue was up 3.5%.
Read all positive updates
Company Guidance
Management guided Q3 adjusted EBITDA of $180–$220 million and consolidated revenue up mid‑single digits (with July expected up low‑single digits), calling for Digital Audio Group revenue up low‑teens (podcast revenue ≈+20%, digital ex‑podcast mid‑single digits), Multiplatform revenue ~flat, and Audio & Media Services revenue ≈+20%; for the full year they reaffirmed adjusted EBITDA of $800 million and free cash flow of $200 million, expect ~ $200 million of programmatic revenue in 2026 (≈+50% vs. $135M in 2025), assume interest expense of ~ $440 million, capex ≈ $90 million, cash restructuring ≈ $50 million, minimal cash taxes, and target year‑end net leverage in the mid‑5s; quarter‑end balance sheet/lift metrics cited: net debt ≈ $4.7 billion, cash $174 million (including $125M borrowed on the ABL), total liquidity $457 million, and a $450M ABL facility extended to Jan 30, 2029 (expected ABL repayment by end‑2026).iHeartMedia Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
18
Very Negative
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.99B | 3.86B | 3.85B | 3.75B | 3.91B | 3.56B |
| Gross Profit | 2.26B | 2.25B | 2.27B | 2.26B | 2.43B | 2.23B |
| EBITDA | 641.59M | 288.90M | 569.15M | 599.46M | 529.39M | 682.01M |
| Net Income | -285.77M | -472.87M | -1.01B | -1.10B | -264.66M | -159.20M |
Balance Sheet | ||||||
| Total Assets | 4.85B | 5.60B | 5.57B | 6.95B | 8.34B | 8.88B |
| Cash, Cash Equivalents and Short-Term Investments | 174.44M | 270.92M | 259.58M | 346.38M | 336.24M | 352.13M |
| Total Debt | 5.76B | 5.79B | 5.86B | 6.05B | 6.33B | 6.57B |
| Total Liabilities | 6.86B | 7.43B | 6.94B | 7.34B | 7.65B | 7.97B |
| Stockholders Equity | -2.01B | -1.83B | -1.38B | -394.15M | 674.90M | 907.36M |
Cash Flow | ||||||
| Free Cash Flow | 36.26M | 10.91M | -26.16M | 110.39M | 259.11M | 147.20M |
| Operating Cash Flow | 119.05M | 92.58M | 71.43M | 213.06M | 420.07M | 330.57M |
| Investing Cash Flow | -70.17M | -66.24M | 508.00K | -51.33M | -129.23M | -346.79M |
| Financing Cash Flow | -110.02M | -15.31M | -158.34M | -152.16M | -306.11M | -352.12M |
iHeartMedia Technical Analysis
Negative
3.54
Price Trends
3.74
Negative
4.12
Negative
3.90
Negative
Market Momentum
-0.27
Positive
31.11
Neutral
19.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IHRT, the sentiment is Negative. The current price of 3.54 is above the 20-day moving average (MA) of 3.37, below the 50-day MA of 3.74, and below the 200-day MA of 3.90, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 31.11 is Neutral, neither overbought nor oversold. The STOCH value of 19.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IHRT.
iHeartMedia Risk Analysis
iHeartMedia disclosed 30 risk factors in its most recent earnings report. iHeartMedia 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
iHeartMedia Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $741.08M | 201.75 | 6.98% | 1.83% | 71.38% | ― | |
69 Neutral | $9.57B | 10.99 | 7.53% | 3.62% | 0.44% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | $58.37M | -6.55 | -5.57% | 11.66% | -5.31% | -514.49% | |
53 Neutral | $105.01M | -2.07 | 94.89% | 12.68% | -4.89% | -226.50% | |
47 Neutral | $471.42M | -1.52 | 15.12% | ― | 3.06% | 24.95% | |
47 Neutral | $37.50M | -0.19 | -401.05% | ― | -16.12% | -1061.96% |
* Communication Services Sector Average
IHRT
iHeartMedia
2.79
0.42
17.72%
BBGI
Beasley Broadcast Group
20.23
15.69
345.59%
EVC
Entravision
8.07
5.72
243.40%
SGA
Saga Communications
9.15
-3.07
-25.10%
SIRI
Sirius XM Holdings
28.69
6.26
27.91%
TSQ
Townsquare Media
5.93
-0.15
-2.40%
iHeartMedia Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
iHeartMedia Shareholders Expand Equity Plan, Elect Directors
Positive
Jun 4, 2026
At its annual meeting of stockholders held on June 4, 2026, iHeartMedia shareholders approved a second amendment to the company’s 2021 Long-Term Incentive Award Plan, significantly expanding its equity compensation capacity. The amendment in...
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.