Lee Enterprises (LEE) financial statements
Lee Enterprises reported revenue of $562M in fiscal 2025, down 1.0% a year over 9 years.
Net income was -$38M and the operating margin -0.8%, against 16.9% in 2016.
Free cash flow was -$7M.
The diluted share count rose 12% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lee Enterprises's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $614M | $567M | $544M | $510M | $618M | $795M | $781M | $691M | $611M | $562M |
| Operating income | $104M | $89M | $86M | $75M | $50M | $57M | $25M | $37M | $5M | -$5M |
| Interest expense | $64M | $58M | $53M | $47M | $48M | $45M | $42M | $41M | $41M | $41M |
| Pre-tax income | $58M | $40M | $31M | $24M | $3M | $32M | $795,000 | -$3M | -$31M | -$43M |
| Income tax | $22M | $12M | -$16M | $8M | $3M | $7M | $698,000 | -$349,000 | -$8M | -$7M |
| Net income | $35M | $27M | $46M | $14M | -$2M | $23M | -$2M | -$5M | -$26M | -$38M |
| EPS (diluted) | $6.40 | $5.00 | $8.20 | $2.51 | -$0.35 | $3.90 | -$0.35 | -$0.90 | -$4.35 | -$6.20 |
| Diluted shares | 5M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M |
| Operating margin | 16.9% | 15.7% | 15.8% | 14.7% | 8.1% | 7.1% | 3.2% | 5.4% | 0.7% | -0.8% |
| Net margin | 5.7% | 4.8% | 8.4% | 2.8% | -0.3% | 2.9% | -0.3% | -0.8% | -4.2% | -6.7% |
Balance sheet
Fiscal years, from Lee Enterprises's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $17M | $11M | $5M | $9M | $34M | $26M | $16M | $15M | $10M | $10M |
| Receivables | — | — | $44M | $43M | $53M | $65M | $70M | $69M | $61M | $55M |
| Inventory | $4M | $4M | $6M | $4M | $8M | $6M | $8M | $8M | $6M | $5M |
| Total current assets | $77M | $68M | $59M | $60M | $109M | $109M | $109M | $107M | $98M | $89M |
| Property, plant and equipment | $129M | $114M | $92M | $82M | $106M | $83M | $74M | $61M | $44M | $36M |
| Goodwill | $244M | $246M | $246M | $250M | $328M | $330M | $330M | $330M | $328M | $324M |
| Total assets | $663M | $621M | $575M | $555M | $864M | $844M | $744M | $712M | $649M | $602M |
| Total current liabilities | $99M | $98M | $65M | $61M | $144M | $142M | $131M | $114M | $115M | $113M |
| Long-term debt | $566M | $496M | $461M | $429M | $525M | $477M | $463M | $456M | $446M | $455M |
| Total liabilities | $790M | $712M | $612M | $592M | $907M | $800M | $727M | $688M | $657M | $643M |
| Shareholders' equity | -$128M | -$92M | -$37M | -$38M | -$45M | $41M | $15M | $21M | -$10M | -$43M |
| Net debt | $574M | $516M | $462M | $424M | $505M | $457M | $446M | $441M | $436M | $445M |
Cash flow
Fiscal years, from Lee Enterprises's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $79M | $72M | $59M | $58M | $50M | $50M | $3M | -$3M | $1M | -$6M |
| Capital spending | $7M | $4M | $6M | $6M | $8M | $7M | $8M | $5M | $9M | $2M |
| Free cash flow | $72M | $68M | $53M | $52M | $42M | $43M | -$5M | -$8M | -$8M | -$7M |
| Stock-based compensation | $2M | $2M | $2M | $2M | $1M | $854,000 | $1M | $2M | $2M | $2M |
| Net borrowing | -$107M | -$69M | -$64M | -$41M | $132M | $0 | $0 | — | — | — |
| Free cash flow margin | 11.7% | 12.0% | 9.8% | 10.2% | 6.8% | 5.4% | -0.6% | -1.2% | -1.3% | -1.3% |
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Open LEE in InvestinglyQuestions
What was Lee Enterprises's revenue in 2025?
$562M in fiscal 2025, from its 10-K filing.
How much free cash flow does Lee Enterprises generate?
-$7M in fiscal 2025 (operating cash flow minus capital spending).
From Lee Enterprises's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.