Clear Channel Outdoor Holdings, Inc.
CCOAbout the company
Clear Channel Outdoor Holdings, Inc. operates as an out-of-home advertising company in the United States and Singapore. The company operates in two segments, America and Airports.
Investment snapshot
Positive
3
BUY / PASS
Neutral / negative
2 / 11
NEUTRAL / FAIL
Median fair value
$1.88
-22.5% vs price
Models with upside
2 / 17
Positive margin of safety
Strongest signal
6 of 10 pass — Dreman, Pabrai, Ackman +1 more object
Key risk
All 12 investors flag CCO's debt & leverage
Framework analysis
| Verdict | Meaning |
|---|---|
| BUY | Positive purchase signal: the framework's buy requirements are met. |
| PASS | The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state. |
| NEUTRAL | Neither a positive nor negative conclusion. It does not mean to hold an existing position. |
| FAIL | The company does not clear the framework's requirements. |
| Ranked | Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL. |
Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.
| Metric | Graham Defensive Value | Buffett Quality Compounder | Lynch GARP | Greenblatt Magic Formula | Piotroski F-Score | Dreman Contrarian Value | Munger Quality Focus | Pabrai Dhandho Framework | Akre Three-Legged Stool | Marks Risk-Aware Value | Ackman Activist Value | Templeton Global Bargain Hunter | Sleep Scale Economies Shared | Asness Systematic Factors | Neff Low-P/E Total Return | Schloss Asset-Value Discipline | O'Shaughnessy Systematic Factor Composite |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Verdict | FAIL | FAIL | FAIL | BUY · Rank #516 (Top 16.7%) | PASS | FAIL | PASS | FAIL | FAIL | FAIL | PASS | FAIL | FAIL | NEUTRAL | FAIL | FAIL | NEUTRAL |
| Score | |||||||||||||||||
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| Intrinsic Value (annual) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||
| Margin of Safety | N/A | +9.0% | N/A | +43.3% | N/A | N/A | -290.3% | N/A | N/A | N/A | -122.0% | N/A | N/A | N/A | N/A | N/A | N/A |
| Financial Basis | TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Annual history · FY 2025 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-06-30 · TTM ended 2026-06-30 vs 2025-06-30 · TTM ended 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | TTM ended 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Market data at 2026-10-01 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-30 · Qualitative assessment Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Market data at 2026-10-01 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · Price history 2025-01-01–2026-10-01 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-02-26 Score computed: 2026-11-14 | TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Price history 2025-01-01–2026-10-01 · Annual history · FY 2025 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-05 Score computed: 2026-11-14 | TTM ended 2026-06-30 · Annual history · FY 2025 · Price history 2025-01-01–2026-10-01 Latest source filing: 2026-08-05 Score computed: 2026-11-14 |
Where It Passes
- Cash Flow60% pass✓ 8✗ 4▾
6 of 10 pass — Dreman, Pabrai, Ackman +1 more object
Free Cash Flow Proxy$112.0M✓BuffettPositive and growingFCF Positive and Growing$84.3M✓LynchPositive and growingOperating Cash Flow$114.9M✓PiotroskiCFO > 0(CFO / Total Assets) vs ROACFO/Assets=3.00%, ROA=0.52%✓PiotroskiCFO/Assets > ROAPrice / (CFO / Shares)10.5x✗Dreman< 8xP/E or FCF YieldP/E=60.5x, FCF Yield=2.6%✗PabraiP/E < 15 or FCF Yield > 10%FCF Positive9/17 years FCF positive✓MarksPositive FCF in majority of recent years(OCF - CapEx) / Market Cap7.0%✓Ackman>= 4%Price / FCF per Share37.7x✗Ackman<= 25Positive Operating Cash Flow frequency20/22 years positive✓SleepPositive OCF in >= 70% of available yearsOperating Cash Flow - Capital Expenditures$84.3M✓Neff> $0 (app proxy for a strong fundamental case)(Operating cash flow - capex) / market capitalization+6.84%; #1197/4519 (top 26.5%)✗OshaughnessyTop 10% of eligible cross-section
Where It Falls Short
- Debt & Leverage0% pass✗ 15▾
All 12 investors flag CCO's debt & leverage
LT Debt vs Net Current AssetsLT Debt $5.1B vs NCA $156.6M✗GrahamLT Debt <= Net Current AssetsDebt/Equity & Interest CoverageD/E: N/A (negative equity), IC: 0.8x✗BuffettD/E < 0.5 AND Interest Coverage > 5xTotal Debt / EquityN/A (negative equity)✗Lynch< 0.33Cash - Long-term Debt$-4.9B✗LynchPositive preferredLT Debt / Total Assets Change117.81% -> 133.27%✗PiotroskiDecreased YoYCurrent Assets / Current Liabilities1.25✗Dreman> 1.5✗SchlossCurrent ratio >= 1.50x (app cutoff)Total Debt / Shareholders' Equity✗Dreman< 0.8✗Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✗SchlossD/E < 1.00xDebt LevelsN/A (non-positive equity)✗MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3Interest Coverage & Debt/EBITDAIC=0.8x, D/EBITDA=10.5x✗MarksInterest Coverage > 3x; Debt/EBITDA < 4xTotal Debt / Shareholders Equity✗Ackman<= 1.0Negative debt-to-equity (higher means less debt)✗AsnessTop 30% of eligible cross-section - Profitability6% pass✓ 9✗ 26▾
15 of 16 flag CCO's profitability — Graham, Buffett, Lynch +12 more
Positive EPS (10 years)3/25 years positive✗GrahamPositive EPS every year for 10 yearsEPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthNet Income Positive (10+ years)7/25 years positive✗BuffettPositive every year for 10+ yearsROE (up to 5-year arithmetic mean)-20.9%✗Buffett> 15% arithmetic mean (app rule)Operating Margin (10-yr trend)19.4% (latest)✓BuffettStable or rising over 10 yearsFree Cash Flow Proxy$112.0M✓BuffettPositive and growingEarnings Variance (10-yr CoV)N/A (negative mean EPS)✗BuffettCoV < 0.3Retained Earnings Effectiveness✗Buffett$1 retained -> > $1 market value createdBasic earnings-growth PEG (dividends excluded)P/E 60.5x (growth N/A)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passROEN/A (negative equity)✗Lynch> 15%EBIT / Enterprise Value5.2%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=5.2%, ROC=80.5%✗GreenblattBoth EY > 10% and ROC > 25%Net Income / Total Assets0.52%✓PiotroskiROA > 0ROA Change YoY-3.73% -> 0.52% (delta: +4.25%)✓PiotroskiCurrent ROA > Prior ROA(CFO / Total Assets) vs ROACFO/Assets=3.00%, ROA=0.52%✓PiotroskiCFO/Assets > ROAGross Margin Change YoY✗PiotroskiImproved YoYPre-Tax Income / Revenue-7.4%✗Dreman>= 8%Net Income / Shareholders' Equity✗Dreman> 12%Margin of SafetyP/E=60.5x✗PabraiP/B < 1.5 or P/E < 15Return on Equity-23.2% (3-yr avg)✗AkreROE > 20% (3-year avg)Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePositive Net Income Frequency7/21 years positive✓MarksPositive net income in >= 7 of last 10 yearsOperating Income / Revenue18.9%✓Ackman>= 15%Net Income / Shareholders Equity✗Ackman>= 15%5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Operating Margin Trend15.1% (2023) -> 19.4% (2025)✓TempletonNon-negative operating-margin trend over 3 yearsRevenue growth vs. gross and operating margin trendrevenue up, operating margin 15.1% -> 19.4%✓SleepRevenue rising; gross margin flat or falling; operating margin holdingNet income / market capitalization-8.60%; #4105/6340 (top 64.7%)✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionGross profit / total assets✗AsnessTop 30% of eligible cross-sectionNet income / positive book equity✗AsnessTop 30% of eligible cross-sectionNegative 5-year standard deviation of ROA-0.0313; #1963/5884 (top 33.4%)✗AsnessTop 30% of eligible cross-section3-5 Year Diluted EPS CAGR28.8% over 5 years✗Neff7%-20% annualizedPositive Diluted-EPS Years2/10 years positive✗Schloss>= 70% positive over 5-10 observed years (app rule) - Valuation8% pass✓ 1✗ 27▾
12 of 13 flag CCO's valuation — Graham, Lynch, Greenblatt +9 more
Price / 3-yr avg EPS✗Graham<= 15xPrice-to-Book Ratio✗Graham<= 1.5xP/E x P/B✗Graham<= 22.5Basic earnings-growth PEG (dividends excluded)P/E 60.5x (growth N/A)✗Lynch< 1.0 (ideally < 0.5)EBIT / Enterprise Value5.2%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=5.2%, ROC=80.5%✗GreenblattBoth EY > 10% and ROC > 25%Price / EPS60.5x✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)Price / (CFO / Shares)10.5x✗Dreman< 8xPrice / Book Value per ShareN/A (negative BVPS)✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)Valuation ReasonablenessP/E=60.5x, OE Yield=9.3%✓MungerP/E < 25 or Owner Earnings Yield > 5%P/E or FCF YieldP/E=60.5x, FCF Yield=2.6%✗PabraiP/E < 15 or FCF Yield > 10%P/B or P/E vs. Historical AverageP/E=60.5x✗MarksP/E < 15 or P/B < 2.0Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePrice / FCF per Share37.7x✗Ackman<= 25Price vs. Trailing Low247% of trailing low ($0.98)✗Templeton<= 120% of trailing low (certified split-adjusted live window)Net income / market capitalization-8.60%; #4105/6340 (top 64.7%)✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionPositive book equity / market capitalization-2.8061; #6162/6449 (top 95.5%)✗AsnessTop 30% of eligible cross-sectionPrice / Diluted EPS60.5x✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)(EPS CAGR % + Dividend Yield %) / P/E✗Neff> 0.7 (Neff's published traditional edge)Price / Tangible Book Value per ShareN/A (non-positive TBVPS)✗SchlossP/TBV <= 1.00x (app cutoff)Book Value per Share Change✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)Revenue / market capitalization+1.3629; #1441/5247 (top 27.5%)✗OshaughnessyTop 10% of eligible cross-section(Operating cash flow - capex) / market capitalization+6.84%; #1197/4519 (top 26.5%)✗OshaughnessyTop 10% of eligible cross-sectionTrailing six-month price return through the evaluation date+0.83%; #2607/6202 (top 42.0%)✗OshaughnessyTop 10% of eligible cross-section - Growth13% pass✓ 5✗ 8▾
7 of 8 flag CCO's growth — Graham, Lynch, Dreman +4 more
EPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthBasic earnings-growth PEG (dividends excluded)P/E 60.5x (growth N/A)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passInventory Growth vs Revenue GrowthN/A (no inventory)✓LynchInventory growth < Revenue growthEPS Growth Direction$-2.46 (2009) -> $0.04 (2025)✓DremanPositive over recent yearsEPS CAGR-7.0% CAGR over 14 years✗Dreman> 5% annualizedPositive Net Income Frequency7/21 years positive✓MarksPositive net income in >= 7 of last 10 years3yr Median Revenue Growth5.0%✗Ackman>= 5%Positive EPS Growth Frequency4/5 years with positive EPS growth✓AckmanPositive EPS growth in >= 3 of last 5 years5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Revenue growth vs. gross and operating margin trendrevenue up, operating margin 15.1% -> 19.4%✓SleepRevenue rising; gross margin flat or falling; operating margin holding5-year Revenue CAGR-2.9%✗SleepCAGR > 7%3-5 Year Diluted EPS CAGR28.8% over 5 years✗Neff7%-20% annualized - Efficiency25% pass✓ 4✗ 7▾
6 of 8 flag CCO's efficiency — Graham, Buffett, Piotroski +3 more
Current Ratio1.25✗Graham>= 2.0ROIC (3-5 yr avg)9.7%✗Buffett> 10%ROIC - WACC-0.3%✗BuffettPositive (WACC = 10%)EBIT / (NWC + Net Fixed Assets)80.5%✓Greenblatt> 25%Current Ratio Change YoY1.30 -> 1.28✗PiotroskiIncreased YoYRevenue / Total Assets Change YoY0.31x -> 0.42x✓PiotroskiImproved YoYCurrent Assets / Current Liabilities1.25✗Dreman> 1.5Return on Invested Capital15.2%✓Munger> 15%ROIC (high and growing)FY2023: ROIC=7.9%; FY2024: ROIC=10.9%; FY2025: ROIC=14.4%✗AkreLatest 3 consecutive FYs: ROIC > 15% in eachReinvestment Rate x ROIC14.4% (RR=100% x ROIC=14.4%)✓AkreReinvestment Rate * ROIC > 10%ROIC (5-year)1/5 years above 12% (latest 14.4%)✗SleepROIC > 12% in a majority of years - Verdicts27% pass✓ 4✗ 11▾
Split decision: 11 FAIL · 3 PASS · 2 NEUTRAL
Overall verdict✗GrahamFAIL (1/9)✗BuffettFAIL (2/9)✗LynchFAIL (2/7)✓GreenblattRank #516✓PiotroskiPASS (F-Score 5)✗DremanFAIL (2/11)✓MungerPASS (2/4)✗PabraiFAIL (0/3)✗AkreFAIL (2/6)✗MarksFAIL (2/5)✓AckmanPASS (4/9)✗TempletonFAIL (2/8)✗SleepFAIL (2/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (1/6)✗SchlossFAIL (0/7)•OshaughnessyNEUTRAL (Not ranked) - Valuation models50% pass✓ 2✗ 2▾
Models split on CCO at $2.42 — fair values range $0.62–$4.27
Buffett fair value$2.66✓Buffett+9.0% margin vs $2.42Greenblatt fair value$4.27✓Greenblatt+43.3% margin vs $2.42Munger fair value$0.62✗Munger-290.3% margin vs $2.42Ackman fair value$1.09✗Ackman-122.0% margin vs $2.42
Business & financials
Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.
Company Profile
Financial Snapshot
Shareholder Return
Fiscal 2025
Issued 1.7% of shares last year, 3.0% issued over two.
- Buybacks
- —
- Dividends
- —
Company Financials
Latest TTM and quarters alongside annual years
TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.
The latest annual period end is unavailable. Showing the latest fiscal cycle’s quarters; quarter and annual columns may overlap. Quarterly shows the full quarter history.
| Metric | TTM · 2026-06-30 2025-07-01 – 2026-06-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, capex, revenue, net income, operating income, ebit, pre tax income, interest expense, depreciation amortization. | Q2 FY 2026 2026-04-01 – 2026-06-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, capex. | Q1 FY 2026 2026-01-01 – 2026-03-31 Sources | FY 2025Sources
| FY 2024Sources
| FY 2023Sources
| FY 2022Sources
| FY 2021Sources
|
|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2Bcurrent | -- | -- | $1.0Best. | $665.9Mest. | $831.4Mest. | $910.8Mest. | $1.4Best. |
| Revenue | $1.7B↓3% | $438.0M↑9% | $373.9M↑12% | $1.6B↑7% | $1.5B↑5% | $1.4B↑4% | $1.4B↓22% | $1.8B |
| Operating Income | $316.7M↑7% | $89.1M↑15% | $39.5M↓12% | $310.6M↑11% | $279.2M↑29% | $216.8M↓15% | $255.9M↑335% | $58.8M |
| Net Income | -$106.0M↓591% | -$5.3M↓156% | -$48.6M↓178% | $19.9M↑111% | -$179.3M↑42% | -$310.9M↓222% | -$96.6M↑78% | -$433.8M |
| EPS (Diluted) | -- | $-0.01↓150% | $-0.10↓177% | $0.04↑111% | $-0.37↑43% | $-0.65↓225% | $-0.20↑78% | $-0.93 |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Margin | 18.9%↑10% | 20.3%↑6% | 10.6%↓22% | 19.4%↑4% | 18.5%↑23% | 15.1%↓18% | 18.5%↑457% | 3.3% |
| ROE | 3.1%↑583% | — | — | -0.6%↓112% | 4.9%↓45% | 9.0%↑204% | 3.0%↓78% | 13.6% |
| Total Debt | $5.1B↑1% | $5.1B↑1% | $5.1B↓4% | $5.1B↓10% | $5.7B↑1% | $5.6B↑1% | $5.6B↓1% | $5.6B |
| Shareholders' Equity | -$3.5B↓2% | -$3.5B↓2% | -$3.4B↓1% | -$3.4B↑7% | -$3.6B↓5% | -$3.5B↓6% | -$3.3B↓2% | -$3.2B |
| Current Ratio | 1.25↑9% | 1.25↑9% | 1.25↓12% | 1.28↓2% | 1.30↑20% | 1.08↑8% | 1.00↓2% | 1.02 |
| Debt / Equity | -1.48↑1% | -1.48↑1% | -1.48↑4% | -1.50↑3% | -1.56↑5% | -1.63↑4% | -1.70↑3% | -1.75 |
| Operating Cash Flow | $160.4M↑86% | $44.6M↑454% | $3.2M↓78% | $114.9M↑44% | $79.7M↑155% | $31.3M↓78% | $140.0M↑205% | -$133.5M |
| Free Cash Flow | $84.3M↑281% | $25.3M↑187% | -$12.8M↓20% | $32.0M↑151% | -$62.6M↑54% | -$135.3M↓203% | -$44.7M↑84% | -$281.5M |
Score history
Historical Score Timeline
Industry peers
Industry Peers
Similar companies in Business Services
CCO vs Peers — Financial Grading
| Company | Market Cap | Price | Revenue | Net Income | ROE | D/E | Op. Margin | Curr. Ratio | Graham | Buffett | Lynch | Greenblatt | Piotroski | Dreman |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AUTOMATIC DATA PROCESSING INCADP | $122.3B | $309.93 | $21.9B | $4.4B | 73.2% | 0.82 | 24.2% | 1.05 | 4/9 | 5/9 | 3/7 | 0/3 | F-Score 6 | 5/11 |
| ELECTRONIC ARTS INC.EA | $52.9B | $209.70 | $7.5B | $887.0M | 13.1% | 0.22 | 15.4% | 1.05 | 1/9 | 4/9 | 4/7 | 0/3 | F-Score 6 | 6/11 |
| Rubrik, Inc.RBRK | $22.6B | $109.88 | $1.3B | $348.8M | 67.1% | — | -26.2% | 1.69 | 1/9 | 0/9 | 2/7 | 0/3 | F-Score 6 | 2/11 |
| AECOMACM | $9.1B | $70.50 | $16.1B | $561.8M | 22.5% | 1.09 | 6.4% | 1.14 | 1/9 | 3/9 | 3/7 | 1/3 | F-Score 8 | 2/11 |
| COMMVAULT SYSTEMS INCCVLT | $6.2B | $152.07 | $1.2B | $70.7M | 942.8% | — | 6.3% | 1.95 | 1/9 | 2/9 | 4/7 | 0/3 | F-Score 6 | 6/11 |
| WPP plcWPP | $6.0B | $27.79 | $18.2B | $289.5M | -8.5% | 1.94 | 2.8% | 0.89 | 1/9 | 2/9 | 1/7 | 0/3 | F-Score 3 | 2/11 |
| VARONIS SYSTEMS INCVRNS | $5.6B | $48.94 | $623.5M | $129.3M | -21.6% | 0.76 | -23.5% | 1.97 | 1/9 | 0/9 | 1/7 | 0/3 | F-Score 5 | 1/11 |
| ROBERT HALF INC.RHI | $4.3B | $42.00 | $5.4B | $133.0M | 10.4% | — | 1.4% | 1.53 | 2/9 | 5/9 | 1/7 | 0/3 | F-Score 5 | 2/11 |