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REITs · Real Estate · Fiscal year ends Dec 31
OUTFRONT Media reported revenue of $1.8B in the fiscal year ended Dec 2025, up 0.0% from the year before. Operating income was $294M, an operating margin of 16.0%, and net income was $147M. Operating cash flow of $308M less capital expenditure of $89M left free cash flow of $219M. Net debt was $2.5B.
Ranks among the 75 reits companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,464 | 1,772 | 1,821 | 1,831 | 1,832 |
| Selling, general & admin | 368 | 422 | 430 | 448 | 442 |
| Operating income | 168 | 283 | −253 | 426 | 294 |
| Interest expense | 130 | 132 | 158 | – | – |
| Pre-tax income | 31.6 | 151 | −419 | 269 | 147 |
| Income tax | −3.4 | 9.4 | 4.0 | 11.0 | 2.0 |
| Net income | 35.6 | 143 | −425 | 258 | 147 |
| Diluted EPS | 0.05 | 0.83 | −2.70 | 1.51 | 0.82 |
| Diluted shares | 146 | 158 | 161 | 171 | 169 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 425 | 40.4 | 36.0 | 46.9 | 99.9 |
| Receivables | 311 | 316 | 288 | 305 | 366 |
| Current assets | 777 | 390 | 398 | 386 | 504 |
| Net PP&E | 648 | 700 | 658 | 649 | 644 |
| Goodwill | 2,078 | 2,076 | 2,006 | 2,006 | 2,006 |
| Total assets | 5,925 | 5,990 | 5,583 | 5,215 | 5,312 |
| Payables | 64.9 | 65.4 | 55.5 | 51.4 | 50.2 |
| Deferred revenue | 30.9 | 35.3 | 37.7 | 42.8 | 57.7 |
| Current liabilities | 508 | 552 | 593 | 521 | 545 |
| Short-term debt | 0.0 | 30.0 | 65.0 | 10.0 | 0.0 |
| Long-term debt | 2,621 | 2,626 | 2,677 | 2,483 | 2,583 |
| Total liabilities | 4,534 | 4,641 | 4,853 | 4,431 | 4,578 |
| Shareholders' equity | 972 | 1,195 | 577 | 649 | 710 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 98.8 | 254 | 254 | 299 | 308 |
| Capital expenditure | 73.8 | 89.8 | 86.8 | 78.1 | 88.8 |
| Free cash flow | 25.0 | 164 | 167 | 221 | 219 |
| Depreciation & amortisation | 145 | 151 | 161 | 152 | 160 |
| Stock-based compensation | 28.6 | 33.8 | 28.4 | 30.8 | 30.0 |
| Acquisitions | 137 | 354 | 33.7 | 19.5 | 13.1 |
| Dividends paid | 57.5 | 206 | 207 | 208 | 210 |
| Dividend per share | 0.20 | 1.20 | 1.20 | 1.65 | 1.20 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 21.1% | 2.7% | 0.6% | 0.0% |
| Operating income growth (YoY) | – | 67.9% | −189.6% | – | −31.0% |
| EPS growth (YoY) | – | 1560.0% | −425.3% | – | −45.7% |
| Operating margin | 11.5% | 15.9% | −13.9% | 23.2% | 16.0% |
| Net margin | 2.4% | 8.1% | −23.4% | 14.1% | 8.0% |
| Return on equityBlank when equity is negative | 3.7% | 11.9% | −73.7% | 39.8% | 20.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 3.1% | 5.2% | −5.1% | 9.1% | 6.2% |
| Free cash flow margin | 1.7% | 9.3% | 9.2% | 12.1% | 11.9% |
| Cash conversion (CFO ÷ net income) | 2.78x | 1.78x | −0.60x | 1.16x | 2.09x |
| Receivable days | 77 | 65 | 58 | 61 | 73 |
| Interest cover | 1.29x | 2.14x | −1.60x | – | – |
| Debt ÷ equity | 2.70x | 2.22x | 4.75x | 3.84x | 3.64x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,196 | 2,616 | 2,706 | 2,446 | 2,484 |
| Current ratio | 1.53x | 0.71x | 0.67x | 0.74x | 0.92x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.