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iHeartMedia
(NASDAQ:IHRT)
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Rating:47Neutral
Price Target:
$4.50
▲(9.76% Upside)
Action:Reiterated
Date:06/23/26
The score is held down primarily by high leverage/negative equity and recently weaker cash generation despite improving operating performance. Technical signals also remain bearish (below key moving averages and negative MACD). These are partially offset by a cautiously constructive earnings outlook with reaffirmed EBITDA/FCF targets, digital/podcast growth, and announced cost savings/tax-related cash preservation.
Positive Factors
Podcast & Digital Audio Growth
Sustained double-digit podcast growth reflects structural audience and advertiser shifts to on-demand audio. A leading podcast footprint with local sales penetration (~50% local) supports diversified ad mixes, higher-yield formats, and multi-year monetization runway independent of broadcast cyclicality.
Negative Factors
Very High Leverage & Negative Equity
Negative equity and elevated debt create persistent refinancing and solvency risk. Interest and covenant sensitivity limit capital allocation, constrain strategic options, and raise the cost of incremental funding, making multi-year investment or M&A more difficult absent material deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Podcast & Digital Audio Growth
Sustained double-digit podcast growth reflects structural audience and advertiser shifts to on-demand audio. A leading podcast footprint with local sales penetration (~50% local) supports diversified ad mixes, higher-yield formats, and multi-year monetization runway independent of broadcast cyclicality.
Read all positive factors
iHeartMedia (IHRT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$654.03M
Dividend YieldN/A
Average Volume (3M)1.41M
Price to Earnings (P/E)―
Beta (1Y)1.77
Revenue Growth2.06%
EPS Growth77.93%
CountryUS
Employees9,875
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)-1.85
Shares Outstanding130,062,200
10 Day Avg. Volume1,187,062
30 Day Avg. Volume1,410,054
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 Cap9.35
Enterprise Value/Revenue1.55
Enterprise Value/Gross Profit2.74
Enterprise Value/Ebitda9.30
Forecast
1Y Price Target
$3.13Price Target Upside-23.78% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)-0.11
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:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call showed solid top-line growth led by digital and podcasting (double-digit revenue growth and strong programmatic targets), meaningful structural positives (additional cost saves and significant tax-driven cash preservation), and reaffirmed full-year EBITDA and free cash flow guidance. Offsetting these positives were a near-term EBITDA miss, Multiplatform Group EBITDA weakness, compressed DAG Q1 margins, negative Q1 free cash flow, and elevated net leverage. The company presented clear remediation actions (cost reductions, programmatic expansion, tapering of noncash marketing) and drivers for second-half recovery, leaving an overall cautiously optimistic tone.Positive Updates
Consolidated Revenue Growth
Q1 consolidated revenue of $884 million, up 9.6% year-over-year (9.3% ex-political), in line with guidance (high single digits).
Negative Updates
Adjusted EBITDA Miss and Margin Pressure
Q1 adjusted EBITDA of $93 million was below prior guide (~$100 million) and below prior year ($105 million); Digital Audio Group Q1 margin compressed to 26.5% from 31.4% YoY.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Q1 consolidated revenue of $884 million, up 9.6% year-over-year (9.3% ex-political), in line with guidance (high single digits).
Read all positive updates
Company Guidance
The company guided Q2 adjusted EBITDA of $140–$160 million with consolidated revenue up low single digits (DAG revenue ~+10% with podcasting up in the low-20s and Digital X Podcasting up low single digits; Multiplatform roughly flat; Audio & Media Services up low‑teens), and reaffirmed full‑year adjusted EBITDA of $800 million and free cash flow of $200 million. Management expects overall programmatic revenue of about $200 million in 2026 (≈+50% vs. $135 million in 2025), interest expense of roughly $440 million, minimal cash taxes (tax planning to preserve ~$150–$200 million of cash from 2026–2028), capital expenditures of ~ $90 million, and cash restructuring of ~ $50 million. They see net leverage improving to the mid‑5s at year end, with Q1 context including consolidated revenue of $884 million (+9.6% y/y), Q1 adjusted EBITDA of $93 million, Q1 free cash flow of -$114 million, quarter‑end net debt of ~ $4.7 billion, liquidity of $495 million, cash of $135 million (including $50 million ABL borrow), and a net debt/adjusted EBITDA ratio of 6.9x.iHeartMedia Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
18
Very Negative
Cash Flow
35
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.94B | 3.86B | 3.85B | 3.75B | 3.91B | 3.56B |
| Gross Profit | 2.23B | 2.25B | 2.27B | 2.26B | 2.43B | 2.23B |
| EBITDA | 658.06M | 288.90M | 569.15M | 599.46M | 529.39M | 682.01M |
| Net Income | -286.86M | -472.87M | -1.01B | -1.10B | -264.66M | -159.20M |
Balance Sheet | ||||||
| Total Assets | 4.89B | 5.60B | 5.57B | 6.95B | 8.34B | 8.88B |
| Cash, Cash Equivalents and Short-Term Investments | 135.05M | 270.92M | 259.58M | 346.38M | 336.24M | 352.13M |
| Total Debt | 5.77B | 5.79B | 5.86B | 6.05B | 6.33B | 6.57B |
| Total Liabilities | 6.81B | 7.43B | 6.94B | 7.34B | 7.65B | 7.97B |
| Stockholders Equity | -1.93B | -1.83B | -1.38B | -394.15M | 674.90M | 907.36M |
Cash Flow | ||||||
| Free Cash Flow | -22.87M | 10.91M | -26.16M | 110.39M | 259.11M | 147.20M |
| Operating Cash Flow | 60.99M | 92.58M | 71.43M | 213.06M | 420.07M | 330.57M |
| Investing Cash Flow | -69.70M | -66.24M | 508.00K | -51.33M | -129.23M | -346.79M |
| Financing Cash Flow | -23.87M | -15.31M | -158.34M | -152.16M | -306.11M | -352.12M |
iHeartMedia Technical Analysis
Positive
4.10
Price Trends
4.65
Negative
3.95
Positive
3.78
Positive
Market Momentum
-0.03
Negative
53.65
Neutral
74.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IHRT, the sentiment is Positive. The current price of 4.1 is above the 20-day moving average (MA) of 4.04, below the 50-day MA of 4.65, and above the 200-day MA of 3.78, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 53.65 is Neutral, neither overbought nor oversold. The STOCH value of 74.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $1.20B | -62.14 | -25.09% | 6.56% | 45.98% | 82.18% | |
50 Neutral | $50.96M | -0.24 | -401.05% | ― | -14.99% | -1938.45% | |
50 Neutral | $58.93M | -6.49 | -5.57% | 8.81% | -4.10% | -343.54% | |
47 Neutral | $654.03M | -2.37 | 15.76% | ― | 2.06% | 77.93% | |
46 Neutral | $285.61M | -1.69 | -7.87% | ― | -13.33% | -299.71% | |
46 Neutral | $80.68M | -1.18 | -103.24% | ― | 16.94% | -225.18% |
* Communication Services Sector Average
IHRT
iHeartMedia
4.38
2.40
121.21%
BBGI
Beasley Broadcast Group
25.35
21.36
535.34%
SSP
E. W. Scripps Company Class A
3.12
-0.20
-6.02%
EVC
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13.05
10.74
464.45%
SGA
Saga Communications
9.26
-2.87
-23.63%
MDIA
Mediaco Holding
0.98
-0.12
-10.91%
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.