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Stock research / United States / LAMR · Real Estate Investment Trusts · Nasdaq

Lamar Advertising Co. (LAMR)

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Lamar Advertising Co. (LAMR) reported revenue of $617 million for Q2 FY2026, the quarter ended 30 June 2026, up 6.5% on the same quarter a year earlier. Net income was $161 million, up 4.1% on the year, and diluted earnings per share $1.58. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$617 millionup 6.5%
Net income$161 millionup 4.1%
Diluted EPS$1.58
QuarterQ2 FY2026ended 30 June 2026

Lamar Advertising (LAMR) in brief

Lamar Advertising (LAMR) reported revenue of $2.3 billion for fiscal 2025, the year ended 31 December 2025, up 2.7% on the year before.
Read moreNet income was $587 million and diluted earnings per share $5.77. Revenue was $2.2 billion in fiscal 2024, $2.1 billion in fiscal 2023, $2.0 billion in fiscal 2022 and $1.8 billion in fiscal 2021. Net income in the same years was $362 million, $496 million, $439 million and $388 million. Over the twelve months to 30 June 2026, Lamar Advertising reported revenue of $2.3 billion and net income of $556 million. Revenue grew 7.6% a year, compounded, over the five years to fiscal 2025. Lamar Advertising declared $6.45 a share in dividends over the last four quarters. At the close of 8 October 2026 the market cap of Lamar Advertising was $14.8 billion, 26.6 times its earnings over the last twelve months.

Ratios

From the filings

ROE55.9%
ROCE17.4%
Operating margin31.8%
Net margin23.9%
FCF margin30.9%
Interest cover4.53
Debt to equity3.28
Cash conversion1.63
Share count, 1 yearn/a
Sales CAGR, 3 years3.7%
Profit CAGR, 3 years10.2%
EPS, TTM$5.48

At the close of 8 October 2026

Price$145.70
Market cap$14.8 billion
Stock P/E26.59
Price to book14.87
EV / EBITDA16.73
Dividend yield4.4%
Market cap / sales6.36
52-week high$164.33
52-week low$116.11
Price, 1 year20.6%
Price CAGR, 3 years22.5%
Price CAGR, 5 years4.5%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Lamar Advertising Co. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
LAMRgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LAMR

Filings18 in twelve months: 10 current reports (8-K), about 4 other events; 4 results of operations; 1 material agreement; 1 new financial obligation; 1 officer or director change
Planned insider sales4 Form 144 notices in twelve months, $3.7 million; latest 14 September 2026
Options tapeput/call 0.27 by open interest at the 8 October 2026 close; the straddle prices a 2.3% move to 16 October 2026
13F holders7 of the followed funds hold it; largest FMR LLC; 6 Schedule 13D or 13G filings in twelve months
Insider trading4 sales and 0 purchases on Form 4 in twelve months
Congress4 House trades disclosed in six months
Short interest3.1 million shares short, 7.82 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue543556498565564580505579586596528617
Cost of revenue175181176183183186180187188192183194
Gross profit367375323382382393325393398404345423
Gross margin68%67%65%68%68%68%64%68%68%68%65%69%
Operating income18819212518418736.7191198189196146208
Operating margin35%34%25%33%33%6%38%34%32%33%28%34%
Interest expense45.144.344.544.342.939.938.340.741.240.240.541.1
Pre-tax income14415080.01401470.3154157147157106167
Tax rate3%1%2%2%-1%396%9%2%2%1%4%2%
Net income14014978.2137147-1.2139154142152101161
Net margin26%27%16%24%26%-0%27%27%24%26%19%26%
Diluted EPS$1.37$1.46$0.76$1.34$1.44-$0.02$1.35$1.52$1.40$1.50$1.00$1.58
Operating cash flow223254111256227279128229236271147252
Capital expenditure39.146.129.522.630.143.029.938.249.962.933.142.7
Free cash flow18320881.123419723697.9191186208114210
Buybacks0.00.05.30.00.0-0.026.41320.00.06.10.0
Dividends paid128n/a133133143n/a159157157n/a163163
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 10 fiscal years and the trailing twelve months

FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue1,5001,5411,6271,7541,5691,7872,0322,1112,2072,2662,326
Cost of revenue526541562590558577667697728747758
Gross profit9751,0001,0651,1641,0111,2111,3651,4141,4791,5191,569
Gross margin65.0%64.9%65.5%66.4%64.5%67.7%67.2%67.0%67.0%67.0%67.4%
Operating income439455461518410521578675532774739
Operating margin29.3%29.5%28.3%29.5%26.1%29.2%28.4%32.0%24.1%34.2%31.8%
Interest expense124128130151138106128175172160163
Pre-tax income312327316368248397456507367614576
Income tax13.49.210.7-4.24.79.317.59.84.521.311.2
Effective tax rate4.3%2.8%3.4%-1.1%1.9%2.3%3.8%1.9%1.2%3.5%1.9%
Net income299318305372243388439496362587556
Net margin19.9%20.6%18.8%21.2%15.5%21.7%21.6%23.5%16.4%25.9%23.9%
Diluted EPS$3.05$3.23$3.08$3.71$2.41$3.83$4.31$4.85$3.52$5.77$5.48
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Billboard1,8781,9562,01488.9%
Other23325125211.1%
BillboardOther
2,111FY20232,207FY20242,266FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow522507565631570734782784874864907
Capital expenditure10810911814162.3126167178125181189
Free cash flow414398447490508608615605748683718
Free cash flow margin27.6%25.8%27.5%27.9%32.4%34.0%30.2%28.7%33.9%30.1%30.9%
Cash from investing-681-400-584-362-96.9-462-619-310-165-245-373
Cash from financing172-28.6-73.6-264-378-295-209-482-703-604-521
Depreciation and amortisation205211225250251271349293463326337
Share-based compensation28.69.629.429.618.837.423.122.644.534.041.5
Buybacks6.29.04.18.910.56.110.56.05.31586.1
Dividend per share$3.02$3.32$3.65$3.84$2.50$4.00$5.00$5.00$5.65$6.45n/a
Diluted shares, weighted98m98m99m100m101m101m102m102m103m102m102m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,0701,1031,1321,1801,2031,2171,1951,2171,0481,025995
Non-controlling interestn/an/an/an/an/an/a0.0n/an/an/an/a
Debt2,3492,5572,8892,9802,7642,8393,0633,0912,9613,1693,264
Operating lease liabilitiesn/an/an/a1,0689949951,0361,0751,1141,2541,246
Finance lease liabilitiesn/an/an/an/a18.617.315.914.613.312.011.3
Other liabilities4825545247138129791,1651,1661,4501,4721,474
Total liabilities and equity3,9004,2144,5455,9415,7916,0476,4756,5646,5876,9326,992
Owned
Fixed assets1,1831,2141,2951,3491,2821,3371,5001,5661,6011,6791,694
Goodwill1,7261,7401,9191,9121,9121,9362,0352,0352,0352,1112,111
Intangible assets6377969159929141,0451,2071,1711,0631,1141,120
Cash and equivalents35.511521.526.212299.852.644.649.564.868.0
Receivables190202236255241270285301335341378
Other assets1291461581,4061,3201,3591,3961,4451,5041,6221,621
Total assets3,9004,2144,5455,9415,7916,0476,4756,5646,5876,9326,992
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a7.6%3.7%4.4%
Profit growth, compoundedn/a19.3%10.2%26.6%
Return on equity, average33.7%40.2%44.2%57.3%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Trading

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Welltower Inc. WELL$160.3 billion102.313.3%-2.4%37.6%0.381.3%
Prologis, Inc. PLD$120.6 billion28.807.8%54.7%7.3%0.680.0%
Equinix Inc. EQIX$99.8 billion65.1110.7%21.8%9.6%1.381.9%
American Tower Corp. AMT$77.7 billion22.9391.4%44.8%6.6%8.594.1%
Digital Realty Trust, Inc. DLR$66.8 billion88.472.9%14.6%17.4%0.68n/a
Simon Property Group Inc. SPG$64.7 billion14.08104.1%47.4%15.0%6.474.3%
Realty Income Corp. O$51.3 billion39.543.2%20.1%10.9%0.635.9%
Public Storage PSA$50.1 billion27.2422.2%39.0%3.0%1.114.2%
Ventas, Inc. VTR$41.9 billion151.411.8%3.3%21.5%0.872.3%
Iron Mountain Inc. IRM$33.6 billion80.69n/a18.8%17.4%n/a3.0%
Crown Castle Inc. CCI$29.3 billionn/an/an/an/an/a6.2%
Extra Space Storage Inc. EXR$28.1 billion29.397.2%40.9%4.2%1.034.9%
All 91 in Trading
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Morgan Stanley MS$294.6 billion15.1517.3%n/a18.0%3.372.1%
Goldman Sachs Group Inc. GS$257.2 billion13.6217.1%n/a17.8%3.571.9%
Charles Schwab Corp. SCHW$167.5 billion17.6120.1%n/a20.3%0.451.1%
BlackRock, Inc. BLK$165.8 billion25.5611.4%32.6%26.5%0.221.9%
Welltower Inc. WELL$160.3 billion102.313.3%-2.4%37.6%0.381.3%
Prologis, Inc. PLD$120.6 billion28.807.8%54.7%7.3%0.680.0%
CME Group Inc. CME$99.9 billion23.4516.3%65.1%5.1%0.131.8%
Equinix Inc. EQIX$99.8 billion65.1110.7%21.8%9.6%1.381.9%
Robinhood Markets, Inc. HOOD$97.6 billion47.1421.7%46.0%38.3%0.23n/a
Intercontinental Exchange, Inc. ICE$87.2 billion21.9413.7%40.7%6.9%0.671.3%
Blackstone Inc. BX$84.8 billion25.2139.0%47.2%17.2%1.484.2%
KKR & Co. Inc. KKR$80.4 billion28.5210.2%n/a31.1%1.721.5%
American Tower Corp. AMT$77.7 billion22.9391.4%44.8%6.6%8.594.1%
Brookfield Asset Management Ltd. BAM$72.8 billionn/an/a58.6%31.9%0.443.4%
Digital Realty Trust, Inc. DLR$66.8 billion88.472.9%14.6%17.4%0.68n/a
Apollo Global Management, Inc. APO$66.4 billion41.938.9%20.2%41.2%0.651.8%
Simon Property Group Inc. SPG$64.7 billion14.08104.1%47.4%15.0%6.474.3%
Nasdaq, Inc. NDAQ$51.9 billion26.9316.4%29.5%7.6%0.731.2%
Realty Income Corp. O$51.3 billion39.543.2%20.1%10.9%0.635.9%
Public Storage PSA$50.1 billion27.2422.2%39.0%3.0%1.114.2%
Ameriprise Financial Inc. AMP$44.1 billion12.0662.0%25.9%10.6%0.560.6%
Ventas, Inc. VTR$41.9 billion151.411.8%3.3%21.5%0.872.3%
Interactive Brokers Group, Inc. IBKR$38.9 billion34.5919.1%n/a21.3%0.000.0%
Ares Management Corp. ARES$36.2 billionn/a16.0%18.1%24.0%n/a4.3%
Iron Mountain Inc. IRM$33.6 billion80.69n/a18.8%17.4%n/a3.0%
Cboe Global Markets, Inc. CBOE$30.7 billion22.9224.1%34.7%11.7%0.260.9%
Raymond James Financial Inc. RJF$30.5 billion13.8318.2%n/a10.5%0.071.3%
Crown Castle Inc. CCI$29.3 billionn/an/an/an/an/a6.2%
Extra Space Storage Inc. EXR$28.1 billion29.397.2%40.9%4.2%1.034.9%
Nomura Holdings Inc. NMR *$27.7 billion12.659.8%n/a14.0%n/a4.3%
Vici Properties Inc. VICI$25.1 billion8.839.5%n/a4.4%0.587.9%
Texas Pacific Land Corp. TPL$24.7 billion45.6032.4%74.9%20.8%0.000.6%
T. Rowe Price Group, Inc. TROW$22.2 billion10.4520.2%30.8%7.0%0.004.9%
Vivmark Residential VMRK$22.2 billion25.678.3%28.2%2.8%0.574.7%
Royal Gold Inc. RGLD$19.6 billion25.249.7%61.4%93.5%0.050.8%
SBA Communications Corp. SBAC$18.0 billion18.32n/a47.6%5.4%n/an/a
Essex Property Trust, Inc. ESS$17.3 billion41.837.8%32.5%4.7%1.203.8%
Franklin Templeton Inc. BEN$16.4 billion22.046.9%9.7%7.9%0.204.0%
Host Hotels & Resorts, Inc. HST$15.4 billion15.0316.1%14.6%4.9%0.804.2%
Kimco Realty Corp. KIM$14.8 billion25.995.9%36.0%4.4%0.814.6%
Lamar Advertising Co. LAMR$14.8 billion26.5955.9%31.8%4.4%3.284.4%
W. P. Carey Inc. WPC$14.4 billion21.557.5%41.8%9.0%1.025.9%
Weyerhaeuser Co. WY$13.8 billion29.055.0%12.3%-2.6%0.564.4%
Annaly Capital Management Inc. NLY$13.7 billion4.4217.4%n/a27.5%2.0315.3%
SUN Communities Inc. SUI$13.7 billionn/an/an/an/a0.733.9%
Mid-America Apartment Communities, Inc. MAA$13.5 billion33.977.4%n/a0.8%1.055.2%
Carlyle Group Inc. CG$13.4 billion39.385.0%17.0%-41.9%1.913.7%
Invesco Ltd. IVZ$13.3 billionn/a-2.5%-7.1%12.2%0.132.8%
Omega Healthcare Investors Inc. OHI$13.2 billion15.7115.9%60.6%15.0%0.756.1%
Regency Centers Corp. REG$13.1 billion24.078.1%72.0%8.2%0.714.0%
Healthpeak Properties, Inc. DOC$12.8 billion52.913.1%5.1%5.5%1.286.6%
SEI Investments Co. SEIC$12.4 billion18.2128.3%28.9%11.1%0.011.0%
Equity Lifestyle Properties Inc. ELS$11.3 billion28.1223.6%26.2%2.5%1.883.6%
Stifel Financial Corp. SF$11.3 billion12.4315.9%n/a15.4%0.101.7%
Gaming & Leisure Properties, Inc. GLPI$11.1 billion11.2219.4%82.5%5.8%1.628.3%
American Homes 4 Rent AMH$11.0 billion24.206.8%14.8%4.3%0.753.9%
Evercore Inc. EVR$11.0 billion15.0840.1%21.4%45.4%0.291.2%
Udr, Inc. UDR$10.8 billion21.3817.8%40.8%1.5%1.985.1%
Eastgroup Properties Inc. EGP$10.5 billion34.238.5%40.5%11.0%0.453.0%
Affiliated Managers Group, Inc. AMG$10.0 billion13.5628.2%15.1%11.8%0.990.0%
American Healthcare Reit, Inc. AHR$9.8 billion74.183.3%19.2%16.4%0.242.0%
Camden Property Trust CPT$9.7 billion32.048.6%n/a0.5%1.284.3%
Bxp, Inc. BXP$9.5 billion31.895.8%28.3%1.9%3.035.1%
Federal Realty Investment Trust FRT$9.2 billion21.3113.0%47.9%8.0%1.424.2%
Jefferies Financial Group Inc. JEF$9.0 billionn/a7.8%n/a21.4%1.713.6%
Houlihan Lokey, Inc. HLI$8.5 billion21.1018.0%20.4%1.7%0.000.2%
InterDigital, Inc. IDCC$8.5 billion37.8725.1%43.8%-11.7%0.320.9%
CubeSmart CUBE$8.5 billion25.8713.0%39.8%3.9%1.355.6%
CareTrust Reit, Inc. CTRE$8.4 billion22.517.9%55.7%53.0%0.274.1%
Brixmor Property Group Inc. BRX$8.3 billion19.3414.3%n/a5.8%1.764.3%
Rexford Industrial Realty, Inc. REXR$8.3 billionn/a-5.2%39.3%0.5%0.434.6%
Agree Realty Corp. ADC$8.2 billion35.393.4%47.9%18.2%0.594.0%
Alexandria Real Estate Equities, Inc. ARE$7.9 billionn/a-6.6%-69.8%-8.4%0.8210.3%
First Industrial Realty Trust Inc. FR$7.9 billion21.6413.1%41.6%8.4%0.933.0%
NNN Reit, Inc. NNN$7.7 billion19.748.6%62.3%6.5%1.005.9%
Morningstar, Inc. MORN$7.6 billion19.2041.2%23.5%9.3%1.660.9%
Stag Industrial, Inc. STAG$6.9 billion27.606.8%37.6%9.6%0.954.2%
Vornado Realty Trust VNO$6.3 billion1,690.501.2%n/a1.4%1.292.2%
Healthcare Realty Trust Inc. HR$5.9 billionn/a-2.1%n/a-6.3%0.996.4%
Rayonier Inc. RYN$5.6 billionn/an/an/an/a0.3613.4%
Dolby Laboratories, Inc. DLB$5.5 billion24.878.8%17.7%0.6%0.002.4%
Kite Realty Group Trust KRG$4.8 billion14.8611.8%16.3%-5.9%0.995.2%
Sabra Health Care Reit, Inc. SBRA$4.8 billion72.462.4%n/a17.3%0.956.4%
Starwood Property Trust, Inc. STWD$4.7 billion21.983.5%1.5%11.8%2.9115.1%
Cousins Properties Inc. CUZ$4.6 billion693.000.1%68.0%11.9%0.834.6%
EPR Properties EPR$4.2 billion17.5011.4%55.1%4.5%1.436.5%
Federated Hermes, Inc. FHI$4.0 billion10.4232.9%27.1%15.0%0.282.4%
Kilroy Realty Corp. KRC$4.0 billion23.913.2%n/a-3.8%0.876.3%
Copt Defense Properties CDP$3.8 billion23.4110.7%30.3%4.5%1.703.6%
Independence Realty Trust, Inc. IRT$3.5 billion81.331.3%16.9%3.5%0.734.7%
Hamilton Lane Inc. HLNEn/an/a29.4%43.6%24.0%0.29n/a
55 companies share its SEC industry code (Real Estate Investment Trusts); the rest are the names nearest in size in its wider industry, Trading, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202520 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20258 August 2025EDGAR
10-Q31 March 20258 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 20248 November 2024EDGAR
10-Q30 June 20248 August 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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