Clear Channel Outdoor (CCO) financial statements
Clear Channel Outdoor reported revenue of $1.6B in fiscal 2025, down 5.5% a year over 9 years.
Net income was $20M and the operating margin 19.4%, against 23.6% in 2016.
Free cash flow was $32M.
The diluted share count rose 37% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Clear Channel Outdoor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.7B | $2.6B | $2.7B | $2.7B | $1.9B | $1.8B | $1.4B | $1.4B | $1.5B | $1.6B |
| Selling, general and admin | $515M | $499M | $523M | $521M | $442M | $330M | $231M | $235M | $253M | $262M |
| Operating income | $632M | $232M | $252M | $253M | -$292M | $59M | $256M | $217M | $279M | $311M |
| Interest expense | $375M | $380M | $388M | $420M | $360M | $349M | $361M | $421M | $402M | $396M |
| Pre-tax income | $235M | -$906M | -$170M | -$290M | -$658M | -$395M | -$79M | -$183M | -$133M | -$99M |
| Income tax | $77M | -$280M | $33M | $72M | -$58M | -$36M | -$90M | -$24M | -$9M | $5M |
| Net income | $135M | -$644M | -$218M | -$363M | -$583M | -$434M | -$97M | -$311M | -$179M | $20M |
| EPS (diluted) | $0.37 | -$1.78 | -$0.60 | -$0.88 | -$1.25 | -$0.93 | -$0.20 | -$0.65 | -$0.37 | $0.04 |
| Diluted shares | 362M | 361M | 362M | 413M | 465M | 468M | 484M | 482M | 488M | 495M |
| Operating margin | 23.6% | 9.0% | 9.3% | 9.4% | -15.8% | 3.3% | 18.5% | 15.1% | 18.5% | 19.4% |
| Net margin | 5.0% | -24.9% | -8.0% | -13.5% | -31.4% | -24.5% | -7.0% | -21.7% | -11.9% | 1.2% |
Balance sheet
Fiscal years, from Clear Channel Outdoor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $542M | $144M | $182M | $399M | $785M | $411M | $282M | $172M | $110M | $190M |
| Receivables | $593M | $659M | $706M | $710M | $468M | $643M | $454M | $315M | $344M | $371M |
| Inventory | $21M | $22M | $18M | $21M | $17M | — | — | — | — | — |
| Total current assets | $1.3B | $974M | $1.0B | $1.2B | $1.3B | $1.1B | $1.1B | $957M | $1.7B | $793M |
| Property, plant and equipment | $1.4B | $1.4B | $1.3B | $1.2B | $889M | $827M | $672M | $490M | $480M | $442M |
| Goodwill | $696M | $714M | $706M | $704M | $710M | $660M | $651M | $508M | $508M | $508M |
| Total assets | $5.7B | $4.7B | $4.5B | $6.4B | $5.8B | $5.3B | $5.1B | $4.7B | $4.8B | $3.8B |
| Total current liabilities | $642M | $658M | $730M | $1.2B | $1.1B | $1.1B | $1.1B | $884M | $1.3B | $618M |
| Long-term debt | $5.1B | $5.3B | $5.3B | $5.1B | $5.6B | $5.6B | $5.5B | $5.6B | $5.7B | $5.1B |
| Total liabilities | $6.7B | $6.5B | $6.6B | $8.4B | $8.5B | $8.5B | $8.3B | $8.2B | $8.4B | $7.2B |
| Shareholders' equity | -$947M | -$1.9B | -$2.1B | -$2.1B | -$2.8B | -$3.2B | -$3.3B | -$3.5B | -$3.6B | -$3.4B |
| Net debt | $4.6B | $5.1B | $5.1B | $4.7B | $4.8B | $5.2B | $5.3B | $5.5B | $5.6B | $4.9B |
Cash flow
Fiscal years, from Clear Channel Outdoor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $309M | $160M | $187M | $215M | -$138M | -$133M | $140M | $31M | $80M | $115M |
| Capital spending | $230M | $224M | $211M | $232M | $124M | $148M | $185M | $167M | $142M | $83M |
| Free cash flow | $79M | -$64M | -$24M | -$18M | -$262M | -$282M | -$45M | -$135M | -$63M | $32M |
| Stock-based compensation | $10M | $10M | $9M | $16M | $13M | $19M | $21M | $20M | $26M | $26M |
| Dividends paid | $756M | $333M | $31M | $740,000 | $405,000 | — | — | — | — | — |
| Net borrowing | $5M | $155M | -$632,000 | -$241M | $300M | $75M | -$21M | $66M | $21M | -$561M |
| Free cash flow margin | 2.9% | -2.5% | -0.9% | -0.7% | -14.1% | -15.9% | -3.2% | -9.4% | -4.2% | 2.0% |
| Dividends per share | $2.09 | $0.92 | $0.08 | $0.00 | $0.00 | — | — | — | — | — |
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Open CCO in InvestinglyQuestions
What was Clear Channel Outdoor's revenue in 2025?
$1.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Clear Channel Outdoor generate?
$32M in fiscal 2025 (operating cash flow minus capital spending).
From Clear Channel Outdoor's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.