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olivLaw · US equity research

OUTFRONT Media Inc. OUT

Real Estate Investment Trusts · SIC 6798 · Vertical: Real Estate Investment Trusts (SIC 6798)

32.48USD+0.37% · 1 dayClose 04 Nov 2026

OUTFRONT Media is a REIT that sells advertising space on out-of-home display structures across the U.S., focused on highways and urban transit. The business grew in the second quarter of 2026, helped by the FIFA World Cup, with quarterly revenue reaching $522.5 million.

At the close of 04 Nov 2026, OUTFRONT Media Inc. (OUT) stock was 32.48 USD (+0.37% on the day), with market capitalisation 5.7 bn USD, P/E 23.2 on diluted EPS of 1.40 USD over the last 12 months, dividend yield 3.69%, beta 1.07, 52-week range 17.59–33.90 USD. Latest reported quarter (Q2 2026): revenue of 522.5 m USD (+13.5% YoY), net income of 77.5 m USD (+297.4% YoY), diluted EPS 0.44 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
5.7 bn USD
shares as of 05 Aug 2026
P/E (TTM)
23.2
Diluted EPS TTM 1.40 · TTM to 30 Jun 2026
E/P (TTM)
4.31%
TTM to 30 Jun 2026
Dividend yield
3.69%
DPS 12m 1.20
Beta (2y)
1.07
Volatility (1y) 29%
52-week range
17.5933.90

Price history

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Technical reading

RSI (14)
68.6
strong (55–70)
Bollinger (20, 2)
29.18 – 32.91
in the upper half of the band · %B 0.88 · band width 12.0%
SMA 50 / 200
29.62 / 29.71
mixed trend
MACD (12, 26, 9)
0.82 / 0.70
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+12.4%−2.0%+14.4 pp—
3 months+1.5%−2.2%+3.6 pp—
6 months+2.3%+4.3%−2.0 pp—
Year to date+34.8%+10.6%+24.2 pp—
1 year+85.3%+10.5%+74.8 pp+0.5%
3 years+164.2%+73.7%+90.5 pp+8.1%
5 years+11.6%+61.7%−50.1 pp—
Max drawdown (1y)
−18.4%
08 May 2026 → 25 Sept 2026
Max drawdown (5y)
−71.2%
29 Mar 2022 → 06 Oct 2023
Compound annual growth (5y)
+2.2%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
522.5 m USD
+13.5% YoY
Net income
77.5 m USD
+297.4% YoY
Diluted EPS
0.44
+340.0% YoY
net / operating
14.8% / 22.2%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue451.9 m493.2 m390.7 m460.2 m467.5 m513.3 m429.6 m522.5 m
SG&A108.7 m109.6 m114.7 m110.6 m105.2 m111.2 m107.3 m123.0 m
Operating income71.3 m111.1 m13.9 m56.2 m89.9 m133.5 m55.9 m116.1 m
Depreciation & amortisation37.3 m42.4 m40.7 m41.0 m ≈40.0 m ≈38.5 m37.9 m37.0 m ≈
Pre-tax income34.1 m74.5 m-22.1 m19.7 m52.3 m96.6 m19.9 m78.5 m
Income tax-200.0 k600.0 k500.0 k200.0 k1.2 m100.0 k400.0 k900.0 k
Net income34.6 m74.0 m-20.6 m19.5 m51.3 m96.8 m19.1 m77.5 m
Diluted EPS0.200.43-0.140.100.290.56 ≈0.110.44
Operating cash flow73.1 m ≈124.5 m33.6 m67.1 m ≈88.8 m ≈118.1 m75.3 m108.4 m ≈
Capex17.6 m ≈18.2 m17.2 m25.7 m ≈21.1 m ≈24.8 m24.1 m17.2 m ≈
Dividends paid52.0 m ≈52.0 m53.0 m52.3 m ≈52.4 m ≈52.6 m53.4 m52.9 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 30 percentile of its own 30-quarter history (min 10.5, median 26.6, max 309.2; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue1.6 bn1.8 bn1.2 bn1.5 bn1.8 bn1.8 bn1.8 bn1.8 bn
Revenue YoY+5.6%+11.0%−30.6%+18.4%+21.1%+2.7%+0.6%+0.0%
Net income107.9 m140.1 m-61.0 m35.6 m142.7 m-425.2 m258.2 m147.0 m
Net income YoY−14.2%+29.8%−143.5%unavailable+300.8%−398.0%unavailable−43.1%
Diluted EPS0.750.97-0.560.050.83-2.701.510.82
Diluted EPS YoY−16.7%+29.3%−157.7%unavailable+1,560.0%−425.3%unavailable−45.7%
net %6.7%7.9%-4.9%2.4%8.1%-23.4%14.1%8.0%
Free cash flow132.0 m187.0 m77.1 m25.0 m164.3 m167.4 m221.1 m218.8 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
99.9 m USD
Financial debt
2.6 bn USD
Net debt
2.5 bn USD
Equity
710.4 m USD
Total assets
5.3 bn USD
Debt / equity
3.64x
Current ratio
0.92x
ROE
21.6%
ROA
2.8%
FCF margin
11.9%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
1.8 bn
2024
1.8 bn
2025
1.8 bn

SEC (XBRL)· 26 Feb 2026verified

SG&A
2023
429.7 m
2024
447.9 m
2025
441.7 m

SEC (XBRL)· 26 Feb 2026verified

Operating income
2023
-253.2 m
2024
425.5 m
2025
293.5 m

SEC (XBRL)· 26 Feb 2026verified

Depreciation & amortisation
2023
160.5 m
2024
151.5 m
2025
160.2 m

SEC (XBRL)· 26 Feb 2026verified

EBITDA
2023
-92.7 m ≈
2024
577.0 m ≈
2025
453.7 m ≈

SEC (XBRL)· 26 Feb 2026derived

Interest expense
2023
158.4 m
2024
—
2025
—

SEC (XBRL)· 22 Feb 2024verified

Pre-tax income
2023
-419.4 m
2024
269.1 m
2025
146.5 m

SEC (XBRL)· 26 Feb 2026verified

Income tax
2023
4.0 m
2024
11.0 m
2025
2.0 m

SEC (XBRL)· 26 Feb 2026verified

Net income
2023
-425.2 m
2024
258.2 m
2025
147.0 m

SEC (XBRL)· 26 Feb 2026verified

Diluted EPS
2023
-2.70
2024
1.51
2025
0.82

SEC (XBRL)· 26 Feb 2026verified

Weighted average diluted shares
2023
161.0 m
2024
170.8 m
2025
169.2 m

SEC (XBRL)· 26 Feb 2026verified

Dividend per share
2023
1.20
2024
1.65
2025
1.20

SEC (XBRL)· 26 Feb 2026verified

Balance sheet · USD

Cash
2023
36.0 m
2024
46.9 m
2025
99.9 m

SEC (XBRL)· 26 Feb 2026verified

Receivables
2023
287.6 m
2024
305.3 m
2025
365.7 m

SEC (XBRL)· 26 Feb 2026verified

Current assets
2023
397.6 m
2024
385.8 m
2025
503.7 m

SEC (XBRL)· 26 Feb 2026verified

Property, plant & equipment, net
2023
657.8 m
2024
648.9 m
2025
643.8 m

SEC (XBRL)· 26 Feb 2026verified

Goodwill
2023
2.0 bn
2024
2.0 bn
2025
2.0 bn

SEC (XBRL)· 26 Feb 2026verified

Intangibles (excl. goodwill)
2023
695.4 m
2024
652.0 m
2025
612.0 m

SEC (XBRL)· 26 Feb 2026verified

Total assets
2023
5.6 bn
2024
5.2 bn
2025
5.3 bn

SEC (XBRL)· 26 Feb 2026verified

Accounts payable
2023
55.5 m
2024
51.4 m
2025
50.2 m

SEC (XBRL)· 26 Feb 2026verified

Short-term debt
2023
65.0 m
2024
10.0 m
2025
0

SEC (XBRL)· 26 Feb 2026verified

Long-term debt
2023
2.7 bn
2024
2.5 bn
2025
2.6 bn

SEC (XBRL)· 26 Feb 2026verified

Current liabilities
2023
593.0 m
2024
520.8 m
2025
545.3 m

SEC (XBRL)· 26 Feb 2026verified

Total liabilities
2023
4.9 bn
2024
4.4 bn
2025
4.6 bn

SEC (XBRL)· 26 Feb 2026verified

Equity
2023
577.3 m †
2024
649.0 m †
2025
710.4 m †

SEC (XBRL)· 26 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
254.2 m
2024
299.2 m
2025
307.6 m

SEC (XBRL)· 26 Feb 2026verified

Capex
2023
86.8 m
2024
78.1 m
2025
88.8 m

SEC (XBRL)· 26 Feb 2026verified

Free cash flow
2023
167.4 m ≈
2024
221.1 m ≈
2025
218.8 m ≈

SEC (XBRL)· 26 Feb 2026derived

Investing cash flow
2023
-107.5 m
2024
207.5 m
2025
-113.7 m

SEC (XBRL)· 26 Feb 2026verified

Financing cash flow
2023
-151.5 m
2024
-495.4 m
2025
-140.9 m

SEC (XBRL)· 26 Feb 2026verified

Dividends paid
2023
207.0 m
2024
208.4 m
2025
210.3 m

SEC (XBRL)· 26 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
0.0%
computed by olivLawFY 2025
Revenue CAGR 3Y
1.1%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
8.2%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
-31.0%
computed by olivLawFY 2025
Net income growth (YoY)
-43.1%
computed by olivLawFY 2025
Net income CAGR 3Y
1.0%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
-45.7%
computed by olivLawFY 2025
EPS CAGR 3Y
-0.4%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
-1.0%
computed by olivLawFY 2025

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
28.4%
computed by olivLawTTM to 30 Jun 2026
EBIT margin
20.5%
computed by olivLawTTM to 30 Jun 2026
Net margin
12.7%
computed by olivLawTTM to 30 Jun 2026
FCF margin
15.7%
computed by olivLawTTM to 30 Jun 2026

Returns

ROE
39.7%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROA
4.7%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
12.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROCE
8.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
85.6%
computed by olivLawTTM to 30 Jun 2026
Payout ratio (FCF)
69.6%
computed by olivLawTTM to 30 Jun 2026

Balance sheet

Net debt
2.5 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Net debt / EBITDA
4.6x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Debt / equity
3.6x
computed by olivLawbalance sheet at 30 Jun 2026
Interest coverage
unavailable
the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used

Liquidity

Current ratio
0.7x
computed by olivLawbalance sheet at 30 Jun 2026
Cash ratio
0.1x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
390.6 m USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
87.2 m USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
303.4 m USD
computed by olivLawTTM to 30 Jun 2026
Cash conversion
71.2%
computed by olivLawTTM to 30 Jun 2026

Market and valuation

Market capitalisation
5.7 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
8.2 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Market cap / net income TTM
23.4x
computed by olivLawTTM to 30 Jun 2026
P/E (TTM)
23.2x
computed by olivLawTTM to 30 Jun 2026
Earnings yield
4.3%
computed by olivLawTTM to 30 Jun 2026
P/B
8.3x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
3.0x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
15.0x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/EBIT
20.8x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/Sales
4.3x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Dividend yield
3.7%
computed by olivLawTTM to 30 Jun 2026
Shareholder yield (distributions)
3.7%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026

9 indicators that do not apply to the sector.

Valuation

olivLaw classification

Unattractive profile

Score: 37 / 100

A scoring methodology on indicators and valuation, not investment advice.

score < 40

Closing price

32.48 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 5.7 bn USD

Key indicators

Market capitalisation
5.7 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
23.2x
computed by olivLawTTM to 30 Jun 2026
P/B
8.3x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
15.0x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROE
39.7%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Net margin
12.7%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
0.0%
computed by olivLawFY 2025
Dividend yield
3.7%
computed by olivLawTTM to 30 Jun 2026

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 05 Aug 2026
Source: SEC (XBRL)published 06 Aug 2026
verified 1997derived 117

Score by group

  • Valuation27
  • Balance sheet67
  • Quality40
  • Growth11
  • Returns38

Estimated value range

Low
9.71
USD per share
Mid
12.22
USD per share
High
15.94
USD per share
Price: 32.48 USD
The price is above the range
Potential to the central value: -62.4% (value / price − 1)
Margin of safety: -165.8% (1 − price / value)
Agreement between methods: low · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 3.65 – 21.21 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • Net asset value (NAV)unavailable · input data missing
  • Dividend discount (DDM)15.77 – 21.21 (Mid 18.09)
  • Peers: P/B3.65 – 10.67 (Mid 6.35)
    29 companies used · median multiple 1.6x · quartiles 0.9x – 2.7x
    CUZ, DEA, DLR, EGP, ESS, EXR, HR, HST, ICR-PA, KIM, LAND, MKZR, NYC, O, OHI, PECO, PINE, PLD, PSA, RITM, RYN, SELF, SLG, SVC, VICI, VMRK, VTR, WELL, WY
Multiple comparisons use the SIC vertical: Real Estate Investment Trusts (SIC 6798)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Unattractive profile · Score 37/100

FactorValueScoreWeight used
ROE · Quality39.7%94 (vs peers)8%
EBITDA margin · Quality28.4%0 (on a fixed band)10%
Revenue CAGR 3Y · Growth1.1%11 (on a fixed band)10%
Net debt / EBITDA · Balance sheet4.6x67 (vs peers)18%
Interest coverage · Balance sheetunavailableunavailable—
P/B · Valuation8.3x6 (vs peers)23%
P/E (TTM) · Valuation23.2x73 (vs peers)10%
Dividend yield · Returns3.7%34 (vs peers)18%
Payout ratio (EPS) · Returns85.6%49 (on a fixed band)5%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial67/100 · 1/2 factors with a value
  • Growth11/100 · 1/1 factors with a value
  • Quality40/100 · 2/2 factors with a value
  • Returns38/100 · 2/2 factors with a value
  • Valuation27/100 · 2/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

OUTFRONT Media Inc. (OUT). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 1.8 bn USD in 2025; YoY growth 0.0%; net margin 12.7%; ROE 39.7%; net debt/EBITDA 4.6x.

The estimated value range is 9.71–15.94 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 12.22 USD, the price of 32.48 USD leaves a potential of -62.4% (value / price − 1) and a margin of safety of -165.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 37/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • ROE: 39.7%
  • P/E (TTM): 23.2x

What contradicts it

  • EBITDA margin: 28.4%
  • Revenue CAGR 3Y: 1.1%
  • P/B: 8.3x
  • The price is above the estimated value range
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): Interest coverage.

Versus the vertical median

Real Estate Investment Trusts (SIC 6798) · same industry (4-digit SIC) · compared with 39 companies

Multiples and returns vs the median

P/E
23.2x
vertical median 32.1x
below median (−27.9%)
EV/EBITDA
15.0x
vertical median 14.9x
at median
P/S
3.0x
vertical median 6.5x
below median (−54.3%)
P/B
8.3x
vertical median 1.7x
above median (+394.1%)
ROE
39.7%
vertical median 6.2%
above median (+543.6%)
Net margin
12.7%
vertical median 16.5%
below median (−23.3%)
EBIT margin
20.5%
vertical median 26.1%
below median (−21.7%)
Revenue YoY
0.0%
vertical median 5.1%
below median (−99.1%)
Net debt/EBITDA
4.6x
vertical median 4.9x
below median (−6.2%)
Dividend yield
3.7%
vertical median 4.4%
below median (−15.2%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
WELLWelltower Inc.176.9 bn103.24.0%12.7%+35.6%+16% / +171%
PLDPrologis, Inc.120.3 bn32.57.1%42.5%+7.2%+0% / +12%
EQIXEquinix Inc100.4 bn60.911.5%16.4%+5.4%+35% / +24%
AMTAmerican Tower Corporation86.9 bn26.390.6%30.7%+5.1%+3% / −10%
DLRDigital Realty Trust, Inc.63.3 bn47.16.2%21.7%+10.0%+13% / +30%
PSAPublic Storage62.3 bn33.916.0%37.8%+2.7%+21% / +29%
ORealty Income Corporation54.7 bn39.63.6%22.9%+9.1%−0% / +7%
VTRVentas, Inc.46.0 bn163.71.9%4.0%+18.5%+8% / +90%
CCICrown Castle Inc.36.8 bn44.0—20.7%−4.4%−5% / −26%
IRMIron Mountain Inc34.7 bn82.6—5.7%+12.2%+35% / +82%
EXRExtra Space Storage Inc.32.6 bn31.87.9%29.9%+3.7%+17% / +20%
VICIVICI Properties Inc.26.9 bn11.28.3%56.5%+4.1%−15% / −18%
VMRKVivmark Residential23.3 bn27.28.1%—+4.8%+0% / +9%
SBACSba Communications Corporation19.6 bn19.9—34.5%+5.1%−5% / −25%
HSTHost Hotels & Resorts, Inc.17.7 bn17.215.8%16.5%+7.6%+46% / +48%
ESSEssex Property Trust, Inc.17.0 bn40.78.0%22.7%+6.4%+0% / +24%
KIMKimco Realty Corporation16.8 bn27.65.8%27.8%+5.1%+21% / +29%
WYWeyerhaeuser Company15.7 bn34.44.8%6.5%−3.1%−2% / −31%
OHIOmega Healthcare Investors, Inc.14.9 bn17.716.5%67.0%+13.2%+7% / +55%
ELSEquity Lifestyle Properties, Inc.12.2 bn30.823.1%25.6%+0.3%−1% / −12%
EGPEastgroup Properties, Inc.10.8 bn34.18.9%41.0%+12.7%+11% / +16%
HRHealthcare Realty Trust Incorporated6.6 bn—-1.0%-4.0%−6.9%+7% / +27%
RYNRayonier Inc.6.1 bn6.712.8%68.6%−51.0%−9% / −34%
OUTOUTFRONT Media Inc.5.7 bn23.239.7%12.7%+0.0%+85% / +164%
PECOPhillips Edison & Company, Inc.5.3 bn29.37.8%23.9%+9.9%+16% / +17%

1- and 3-year price returns: for OUT from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
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Estimated price (USD)

Estimated priceBearBaseBull
1 years
18.39
Total return -41% · Per year -41%
32.56
Total return 4% · Per year 4%
49.12
Total return 56% · Per year 56%
3 years
16.65
Total return -41% · Per year -16%
33.28
Total return 14% · Per year 4%
55.30
Total return 85% · Per year 23%
5 years
15.07
Total return -41% · Per year -10%
34.03
Total return 24% · Per year 4%
62.26
Total return 117% · Per year 17%
What moves the 3-year price the most
  • Exit P/E± 8.32
  • Net margin± 5.82
  • Annual revenue growth± 4.94
  • Annual dilution± 0.49

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

OUTFRONT Media is a REIT that sells advertising space on out-of-home display structures across the U.S., focused on highways and urban transit. The business grew in the second quarter of 2026, helped by the FIFA World Cup, with quarterly revenue reaching $522.5 million 3.

SWOT

Strengths

  • A large portfolio of locations and many legal nonconforming structures that are hard to replicate 1.
  • Visible organic growth in the second quarter of 2026 3.
  • Broad diversification of customers across industries with no single sector dominating 1.

Weaknesses

  • Significant debt, with a weighted average cost of debt around 5.5% 23.
  • Heavy reliance on the New York and Los Angeles markets 1.
  • Recovery of MTA equipment deployment costs is uncertain 3.

Opportunities

  • Further digitization and programmatic sales could raise yield per display 1.
  • Industry consolidation could open acquisition opportunities 1.
  • Outdoor advertising could attract budgets shifted from other media 1.

Threats

  • Advertising spending could fall in an economic downturn 1.
  • Regulatory changes could limit new displays 1.
  • Loss of municipal contracts in competitive bidding 1.

Risks

  • Advertising sensitivityhigh

    Advertising spending can decline in difficult economic periods 1.

  • Intense competitionmedium

    Competitors could offer lower rates and pressure margins 1.

  • Regulationmedium

    Local restrictions could limit installation of new displays 1.

  • MTA costsmedium

    Recovery of MTA equipment deployment costs is not assured and could lead to impairment 3.

  • Indebtednesslow

    Total debt could limit financial flexibility if rates rise 2.

Investment thesis

What would need to be true (bull case)

  • Organic growth in the second quarter, combined with rising AFFO, could support the increased dividend 3.
  • Digitization of the portfolio could raise revenue per display over time 1.
  • Legal nonconforming structures could protect its market position 1.

What would break the thesis

  • The FIFA World Cup effect could be temporary and mask weaker underlying growth 3.
  • Significant debt and a high cost of borrowing could limit investment 2.
  • MTA costs could remain high if recovery stays partial 3.

What to watch

  • Revenue and AFFO trend after the FIFA effectQ3 2026
  • Transit segment results and municipal contract renewals2027
  • Recovery of MTA equipment deployment costsnext 10-K
  • Cost of debt and refinancing2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

The company generally owns the display structures and holds advertising permits, while leasing the underlying sites; about 75% of its U.S. billboard structures are 'legal nonconforming' 1, which enhances their value. The portfolio covers roughly 120 U.S. markets 1, and fiscal 2025 revenue was $1,831.7 million 1. Alongside static displays, OUTFRONT is digitizing its inventory to offer richer audience targeting, though this requires significant capital spending.

Segments

Billboard

The Billboard segment sells space on heavily traveled highways and roadways in top markets, and reported higher second-quarter 2026 revenue driven by higher yield and FIFA World Cup revenue 3.

Transit

The Transit segment operates displays under exclusive multi-year municipal contracts, with New York and Los Angeles as key markets 1; second-quarter 2026 revenue rose 32.3% 3, but contracts must be renewed through competitive bidding 1.

Market context

The U.S. out-of-home advertising market is fragmented, with a few national operators and hundreds of regional and local companies 1. Outdoor advertising competes with online, social, television and other media, and demand depends on advertising spending and urban traffic 1.

Trends

  • Digitization of displaystailwind

    Digital displays generally earn higher revenue than static ones but also cost more; if programmatic demand grows, growth could continue 1.

  • Major sporting eventsmixed

    The 2026 FIFA World Cup contributed to second-quarter revenue 3, an effect that may not repeat to the same degree.

  • Local regulationheadwind

    Changes in outdoor advertising rules could restrict new display installations 1.

Competitive position

The company competes with other national operators and hundreds of regional firms for customers and locations 1. Competitors named in the source are Lamar, Clear Channel Outdoor, JCDecaux and Intersection 1.

  • Lamar AdvertisingLAMR

    National outdoor advertising operator named as a principal competitor 1.

  • Clear Channel OutdoorCCO

    National competitor in out-of-home advertising named in the annual report 1.

  • JCDecaux

    International outdoor advertising group named as a competitor 1.

  • Intersection

    Digital display operator named as a direct competitor in the source 1.

News & filings

In the press

No news in our archive over the last 180 days.

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / OUTFRONT Media Inc. · 26 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / OUTFRONT Media Inc. · 06 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / OUTFRONT Media Inc. · 05 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.

OUTFRONT Media Inc. (OUT): stock, results, valuation and forecast · olivLaw