iHeartMedia, Inc. IHRT

Communication ServicesMedia & PublishingUnited States of America

Last close 1.84 USD on Nov 1, 2026, −55.8% year to date

Quant rating

Quant rating C Rank 80 of 135 in Communication Services

Growth B 34 of 135
Valuation A 9 of 135
Quality C 83 of 135
Revisions B 34 of 135
Momentum D 128 of 135

Wall Street consensus Hold (3.50)Average target 3.62 USD +97.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 285M
Enterprise value: 5.2B
52-week range: 1.39 – 6.55
3-year range: 0.86 – 6.55
Dividend yield: –
Beta (5 years): 2.47
Shares outstanding: 155M
Next earnings: Nov 9, 2026

About the company

iHeartMedia, Inc. is an audio company in the United States. The Company's segments include Multiplatform Group, Digital Audio Group and Audio & Media Services Group. The Multiplatform Group segment includes its Markets Group, which includes its 860+ broadcast radio stations in approximately 160 markets; its Events business, which includes both live and virtual events; its SmartAudio suite of data targeting and attribution products; Premiere Networks, which includes the Premiere Networks syndication business and Total Traffic and Weather Network; Black Information Network (BIN) and its National Sales Organization. The Digital Audio Group segment includes all of the Company's digital businesses, including podcasting, the iHeartRadio digital service, its digital advertising technology companies, its websites, newsletters and digital services and programs and its audio social media footprint. The Audio & Media Services Group segment includes Katz Media Group, and RCS Sound Software.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,865	3,855	3,751	3,912	3,558	–
Revenue growth	0.3%	2.8%	−4.1%	9.9%	20.7%	5.6%
EPS (basic, normalized)	−3.06	−6.68	−7.39	−1.79	−1.09	–
EPS growth	–	–	–	–	–	–
Gross margin	58.3%	58.8%	60.2%	62.2%	62.8%	60.4%
Net margin	−12.8%	−26.2%	−29.4%	−6.8%	−4.5%	−15.9%
ROE	–	–	−785.5%	−33.5%	−16.3%	−278.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	174
Current ratio	1.41x
Long-term debt (mil)	4,947
Net debt (mil)	4,871
Total equity (mil)	−2,011
Net debt / equity	−2.42x
Net debt / EBITDA	7.10x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	3,865	+0.3%	1.3x	686	−8.6%	7.5x	−3.06	+54.2%	−0.6x
2026	4,146	+7.3%	1.2x	779	+13.6%	6.6x	−0.49	+84.0%	−3.8x
2027	4,145	0.0%	1.2x	758	−2.7%	6.8x	0.05	+110.7%	35.0x
2028	4,348	+4.9%	1.2x	857	+13.0%	6.0x	0.76	+1,341.3%	2.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	4,146	0.0%	−0.2%	−0.5%	−0.49	0.0%	−256.4%	−366.7%
2027	4,145	0.0%	−0.2%	−0.3%	0.05	0.0%	+31.2%	+172.4%
2028	4,348	0.0%	+0.4%	+0.4%	0.76	0.0%	−10.5%	+5.1%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	799	929	1,008	1,118	807	934	997	1,127	884	977
Sales mean (mil)	806	916	1,001	1,166	787	912	980	1,099	871	970
Surprise	−0.8%	+1.4%	+0.8%	−4.1%	+2.5%	+2.3%	+1.7%	+2.5%	+1.5%	+0.7%
EPS reported	−0.12	−6.50	−0.27	0.22	−1.84	−0.54	−0.43	−0.26	−0.61	−0.55
EPS mean	−0.56	−0.31	0.03	0.37	−0.52	−0.27	−0.01	0.13	−0.54	−0.28
Surprise	+78.6%	−1,983.3%	−1,180.0%	−40.5%	−255.2%	−98.2%	−4,200.0%	−295.0%	−13.5%	−98.2%

Peer comparison Media & Publishing

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
IHRT iHeartMedia, Inc.	285M	7.10x	−12.8%	−0.14x	−3.8x	35.0x	6.6x	6.8x
FOXA Fox Corporation	25.1B	0.66x	9.8%	2.28x	10.7x	10.8x	6.8x	7.2x
WMG Warner Music Group Corp.	16.0B	3.00x	5.4%	18.76x	21.8x	17.2x	11.9x	10.7x
NYT The New York Times Company	11.3B	−1.20x	12.2%	5.54x	24.3x	22.4x	16.5x	14.8x
SIRI Sirius XM Holdings Inc.	9.8B	3.42x	9.4%	0.80x	9.8x	8.9x	7.2x	7.2x
SKYD Skydance Corporation	8.9B	4.74x	−2.1%	0.76x	−52.6x	42.1x	2.0x	1.7x
Mean		2.95x	3.6%	4.67x	1.7x	22.8x	8.5x	8.1x
Median		3.21x	7.4%	1.54x	10.3x	19.8x	7.0x	7.2x

Technical analysis

1M−17.1%
3M−48.2%
1Y−42.5%
3Y−14.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, iHeartMedia, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	3,865	3,855	3,751	3,912	3,558	2,948
Cost of revenue	1,613	1,589	1,494	1,480	1,325	1,163
Gross profit	2,252	2,266	2,257	2,432	2,234	1,785
Selling, general & administrative expenses	1,688	1,694	1,656	1,593	1,519	1,370
Research & development	–	–	–	–	–	–
Depreciation/amortization	360	410	428	446	469	403
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	215	1,020	908	281	57.7	1,739
Other operating expenses	10.6	2.8	4.4	25.0	32.3	11.3
Operating income	−22.2	−860	−741	87.1	155	−1,738
Net interest income (expense)	−453	−307	−421	−343	−290	−353
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	1.1	−0.9	−0.7	−2.3	−15.0	−7.8
Net income before taxes	−474	−1,168	−1,163	−258	−150	−2,099
Provision for taxes	21.5	−158	−62.3	4.7	8.4	−184
Minority interest	−1.0	−0.4	−2.3	−2.0	−0.8	0.5
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−496	−1,010	−1,103	−265	−159	−1,915
Extraordinary items	23.3	–	–	–	0	0
Net income	−473	−1,010	−1,103	−265	−159	−1,915
EBIT, normalized	271	261	228	444	286	1.1
EBITDA, normalized	631	671	657	890	755	404
Basic EPS, normalized	−3.06	−6.68	−7.39	−1.79	−1.09	–

Balance sheet in millions of USD, fiscal years

Balance sheet, iHeartMedia, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	271	260	346	336	352	721
Receivables	959	993	1,041	1,038	1,048	813
Total inventory	–	–	–	–	3.2	1.2
Prepaid expenses	190	97.3	93.1	79.1	65.9	79.5
Other current assets	38.6	11.6	26.2	19.6	3.9	4.4
Total current assets	1,459	1,362	1,507	1,473	1,473	1,619
Property, plant & equipment	1,024	1,158	1,264	1,483	1,524	1,638
Goodwill	1,105	1,105	1,721	2,313	2,314	2,146
Intangibles	1,315	1,738	2,287	2,896	3,445	3,695
Long-term investments	182	168	134	125	85.9	70.6
Note receivable	–	–	–	–	–	–
Other long-term assets	39.9	40.7	38.9	45.8	40.8	35.0
Total assets	5,126	5,572	6,953	8,336	8,881	9,203
Liabilities
Accounts payable	271	253	236	240	206	149
Payable/accrued	–	–	–	–	–	–
Accrued expenses	432	440	453	460	510	410
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	73.4	22.5	0.3	0.7	0.7	34.8
Other current liabilities	190	154	159	131	133	123
Total current liabilities	967	870	848	832	849	718
Long-term debt	4,980	5,049	5,215	5,414	5,738	6,042
Minority interest	4.6	5.3	9.4	9.6	8.4	8.3
Other liabilities	1,006	1,024	1,274	1,406	1,378	1,392
Total liabilities	6,958	6,949	7,347	7,661	7,974	8,160
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	0.2	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	2,995	2,976	2,947	2,912	2,877	2,849
Retained earnings (accumulated deficit)	−4,813	−4,340	−3,330	−2,227	−1,963	−1,804
Treasury stock	−12.2	−11.0	−10.1	−8.9	−6.3	−3.2
Other equity	−1.9	−1.9	−1.1	−1.3	−0.3	0.2
Total equity	−1,832	−1,377	−394	675	907	1,042
Total liabilities & shareholders' equity	5,126	5,572	6,953	8,336	8,881	9,203

Cash flow statement in millions of USD, fiscal years

Cash flow statement, iHeartMedia, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−472	−1,009	−1,100	−263	−158	−1,915
Depreciation, depletion & amortization	360	410	428	446	469	403
Deferred taxes	−16.2	−237	−145	−74.4	−10.9	−184
Non-cash items	173	851	980	322	71.9	1,811
Changes in working capital	47.4	56.8	49.3	−10.1	−41.5	101
Cash from operations	92.6	71.4	213	420	331	216
Investing activities
Capital expenditures	−81.7	−97.6	−103	−161	−183	−85.2
Other investing cash flows	15.4	98.1	51.3	31.7	−163	−62.6
Cash from investing	−66.2	0.5	−51.3	−129	−347	−148
Financing activities
Financing cash flow items	−3.0	−7.0	−3.7	−6.0	0.3	−6.2
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−12.4	−151	−148	−300	−352	247
Cash from financing	−15.3	−158	−152	−306	−352	241
Foreign exchange effects	0.3	−0.4	0.2	−0.6	−0.3	0.3
Net change in cash	11.3	−86.8	9.7	−15.9	−369	310
Free cash flow	10.9	−26.2	110	259	147	131

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.