iHeartMedia, Inc.

IHRT
Country: United StatesPrice: $0.60Market Cap: $92.5M

Investment snapshot

18%positive consensus
Scored 1d ago

Positive

3

BUY / PASS

Neutral / negative

2 / 11

NEUTRAL / FAIL

Median fair value

$0.79

+32.3% vs price

Models with upside

2 / 17

Positive margin of safety

Strongest signal

IHRT undervalued: all 2 models price fair value above $0.60 (median $0.79)

Key risk

All 12 investors flag IHRT's debt & leverage

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe 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.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked 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.

MetricGraham

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

VerdictFAILFAILFAILFAIL · Rank #1243 (Top 40.1%)PASSFAILFAILFAILFAILFAILPASSFAILPASSNEUTRALFAILFAILNEUTRAL
Score
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Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/A+18.2%N/AN/AN/A+29.8%N/AN/AN/AN/AN/AN/A
Financial Basis

TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Annual history · FY 2025

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-02

Score computed: 2026-11-14

Annual history · FY 2025 · Balance sheet at 2026-09-30 · TTM ended 2026-09-30 vs 2025-09-30 · TTM ended 2026-09-30

Latest source filing: 2026-11-09

Score computed: 2026-11-14

TTM ended 2026-09-30

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-02

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-02

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment · TTM ended 2026-09-30 · Balance sheet at 2026-09-30

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-02

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 · Balance sheet at 2026-09-30

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-02

Score computed: 2026-11-14

TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-09-30

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025 · Balance sheet at 2026-09-30

Latest source filing: 2026-11-09

Score computed: 2026-11-14

TTM ended 2026-09-30 · Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Where It Passes

  • Valuation models100% pass✓ 2▾

    IHRT undervalued: all 2 models price fair value above $0.60 (median $0.79)

    Munger fair value$0.73
    ✓Munger+18.2% margin vs $0.60
    Ackman fair value$0.85
    ✓Ackman+29.8% margin vs $0.60
  • Cash Flow90% pass✓ 11✗ 1▾

    9 of 10 pass — Buffett objects

    Free Cash Flow Proxy$-194.5M
    ✗BuffettPositive and growing
    FCF Positive and Growing$58.7M
    ✓LynchPositive and growing
    Operating Cash Flow$92.6M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=1.81%, ROA=-9.22%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)1.0x
    ✓Dreman< 8x
    P/E or FCF YieldFCF Yield=11.8%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive9/16 years FCF positive
    ✓MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap63.7%
    ✓Ackman>= 4%
    Price / FCF per Share8.4x
    ✓Ackman<= 25
    Positive Operating Cash Flow frequency15/18 years positive
    ✓SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$58.7M
    ✓Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization+63.48%; #77/4519 (top 1.7%)
    ✓OshaughnessyTop 10% of eligible cross-section

Where It Falls Short

  • Debt & Leverage0% pass✗ 15▾

    All 12 investors flag IHRT's debt & leverage

    LT Debt vs Net Current AssetsLT Debt $4.9B vs NCA $375.8M
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: N/A (negative equity), IC: -0.1x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / EquityN/A (negative equity)
    ✗Lynch< 0.33
    Cash - Long-term Debt$-4.8B
    ✗LynchPositive preferred
    LT Debt / Total Assets Change90.62% -> 97.15%
    ✗PiotroskiDecreased YoY
    Current Assets / Current Liabilities1.40
    ✗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 < 1.00x
    Debt LevelsN/A (non-positive equity)
    ✗MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=-0.1x, D/EBITDA=14.9x
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity
    ✗Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)
    ✗AsnessTop 30% of eligible cross-section
  • Growth0% pass✓ 3✗ 10▾

    No clean pass — all 8 investors flag at least one growth criterion

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency3/19 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth0.3%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency3/5 years with positive EPS growth
    ✓AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendrevenue up, operating margin -21.3% -> -0.5%
    ✓SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR5.6%
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Profitability6% pass✓ 4✗ 31▾

    15 of 16 flag IHRT's profitability — Graham, Buffett, Lynch +12 more

    Positive EPS (10 years)0/22 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)3/22 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-48.9%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-0.5% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-194.5M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROEN/A (negative equity)
    ✗Lynch> 15%
    EBIT / Enterprise Value3.9%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=3.9%, ROC=27.5%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-9.22%
    ✗PiotroskiROA > 0
    ROA Change YoY-18.13% -> -9.22% (delta: +8.90%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=1.81%, ROA=-9.22%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-12.3%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity
    ✗Dreman> 12%
    Margin of Safety
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-79.4% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency3/19 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue4.9%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-21.3% (2023) -> -0.5% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendrevenue up, operating margin -21.3% -> -0.5%
    ✓SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-246.94%; #5728/6340 (top 90.3%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0655; #2916/5884 (top 49.6%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years0/9 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Efficiency13% pass✓ 2✗ 9▾

    7 of 8 flag IHRT's efficiency — Graham, Buffett, Piotroski +4 more

    Current Ratio1.40
    ✗Graham>= 2.0
    ROIC (3-5 yr avg)-5.9%
    ✗Buffett> 10%
    ROIC - WACC-15.9%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)27.5%
    ✓Greenblatt> 25%
    Current Ratio Change YoY1.56 -> 1.51
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.69x -> 0.75x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities1.40
    ✗Dreman> 1.5
    Return on Invested Capital5.1%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=-13.0%; FY2024: ROIC=-16.3%; FY2025: ROIC=-0.5%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/5 years above 12% (latest -0.5%)
    ✗SleepROIC > 12% in a majority of years
  • Valuation15% pass✓ 6✗ 22▾

    11 of 13 flag IHRT's valuation — Graham, Lynch, Greenblatt +8 more

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value3.9%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=3.9%, ROC=27.5%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)1.0x
    ✓Dreman< 8x
    Price / Book Value per ShareN/A (negative BVPS)
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=-211.1%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=11.8%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical Average
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share8.4x
    ✓Ackman<= 25
    Price vs. Trailing Low100% of trailing low ($0.60)
    ✓Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-246.94%; #5728/6340 (top 90.3%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization-21.7984; #6330/6449 (top 98.2%)
    ✗AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗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-264.7%
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+43.4630; #128/5247 (top 2.4%)
    ✓OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization+63.48%; #77/4519 (top 1.7%)
    ✓OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-86.15%; #5931/6202 (top 95.6%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Verdicts20% pass✓ 3✗ 12▾

    Split decision: 11 FAIL · 3 PASS · 2 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (2/7)✗GreenblattRank #1243✓PiotroskiPASS (F-Score 4)✗DremanFAIL (1/11)✗MungerFAIL (0/4)✗PabraiFAIL (1/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✓AckmanPASS (4/9)✗TempletonFAIL (3/8)✓SleepPASS (3/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (2/6)✗SchlossFAIL (0/7)•OshaughnessyNEUTRAL (Not ranked)

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Communication
SIC Sector: Communications
Size: Micro Cap($92.5M)
Revenue: $3.9B+0.3% YoY
Net Income: $472.9M+53.2% YoY

Financial Snapshot

Operating Margin-0.5%
Return on Equity25.9%
Debt / Equity-2.77
Current Ratio1.51
EPS (Diluted)$-3.06
Shares Retired−2.0% / −2.4% 2y

Shareholder Return

Fiscal 2025

Issued 2.0% of shares last year, 2.4% 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.

MetricTTM · 2026-09-30

2025-10-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: revenue, net income, operating income, ebit, operating cash flow, depreciation amortization, capex, buybacks.

Q3 FY 2026

2026-07-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, capex, buybacks.

Q2 FY 2026

2026-04-01 – 2026-06-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, capex.

Q1 FY 2026

2026-01-01 – 2026-03-31

Sources
FY 2025
Sources
  • 10-K · 2026-03-02
FY 2024
Sources
  • 10-K · 2025-02-27
FY 2023
Sources
  • 10-K · 2024-02-29
FY 2022
Sources
  • 10-K · 2023-02-28
FY 2021
Sources
  • 10-K · 2022-02-23
Market Cap$92.5Mcurrent------$499.9Mest.$335.8Mest.$408.5Mest.$1.2Best.$3.0Best.
Revenue$4.0B↑4%$1.0B↑3%$977.2M↑5%$884.2M↑10%$3.9B$3.9B↑3%$3.8B↓4%$3.9B↑10%$3.6B
Operating Income$195.7M↑11007%$73.0M↑163%$35.5M$1.5M↑106%-$20.6M↑97%-$763.1M↑4%-$797.3M↓1502%$56.9M↓63%$154.9M
Net Income-$228.3M↑43%-$8.8M↑87%-$82.4M↑1%-$95.2M↑66%-$472.9M↑53%-$1.0B↑8%-$1.1B↓317%-$264.7M↓66%-$159.2M
EPS (Diluted)--$-0.06↑86%$-0.52↑4%$-0.61↑67%$-3.06↑54%$-6.68↑10%$-7.39↓313%$-1.79↓64%$-1.09
Gross Margin—————————
Operating Margin4.9%↑10567%7.1%↑161%3.6%↓4%0.2%↑105%-0.5%↑97%-19.8%↑7%-21.3%↓1563%1.5%↓67%4.4%
ROE11.3%↓49%———25.9%↓65%73.6%↓74%286.6%↑841%-38.7%↓122%-17.4%
Total Debt$5.0B↓2%$5.0B↓2%$5.0B↓2%$5.0B$5.1B$5.1B↓3%$5.2B↓4%$5.4B↓6%$5.7B
Shareholders' Equity-$2.0B↓13%-$2.0B↓13%-$2.0B↓16%-$1.9B↓17%-$1.8B↓33%-$1.4B↓257%-$384.8M↓156%$684.5M↓25%$915.8M
Current Ratio1.40↓12%1.40↓12%1.41↓6%1.49↓6%1.51↓4%1.56↓12%1.781.77↑2%1.73
Debt / Equity-2.49↑13%-2.49↑13%-2.51↑16%-2.62↑15%-2.77↑25%-3.70↑73%-13.55↓271%7.91↑26%6.27
Operating Cash Flow$142.3M↑328%$13.7M↑244%$64.9M↑851%-$92.5M↓52%$92.6M↑30%$71.4M↓66%$213.1M↓49%$420.1M↑27%$330.6M
Free Cash Flow$58.7M↑139%-$10.4M↑68%$46.0M↑449%-$114.5M↓42%$10.9M↑142%-$26.2M↓124%$110.4M↓57%$259.1M↑76%$147.2M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Communication

IHRT vs Peers — Financial Grading

Revenue$3.9BBottom 25%
Net Income$472.9MBottom 25%
ROE25.9%Median
D/E-2.77Top 25%
Op. Margin-0.5%Bottom 25%
Curr. Ratio1.51Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
VERIZON COMMUNICATIONS INCVZ$192.1B$46.36$138.2B$17.2B16.2%1.5021.2%0.914/93/92/71/3F-Score 56/11
AT&T INC.T$149.4B$22.18$125.6B$22.0B17.4%1.0819.2%0.915/92/93/70/3F-Score 66/11
NIPPON TELEGRAPH & TELEPHONE CORPNTTYY$85.0B$26.32——————2/91/92/71/3F-Score 76/11
AMERICA MOVIL SAB DE CV/AMX$76.0B$25.47$42.1B$1.1B6.2%1.5420.7%0.721/95/91/71/3F-Score 62/11
VODAFONE GROUP PUBLIC LTD COVOD$35.6B$15.37$40.5B$4.5B-7.9%1.01-1.1%—1/92/90/70/3F-Score 52/11
CHARTER COMMUNICATIONS, INC. /MO/CHTR$24.8B$138.39$54.8B$5.0B31.1%5.9023.6%0.394/93/93/70/3F-Score 65/11
BCE INCBCE$20.0B$21.43$17.9B$4.8B28.3%1.52—0.584/91/95/71/3F-Score 69/11
ROGERS COMMUNICATIONS INCRCI$18.0B$33.24$15.9B$5.0B38.8%2.2545.2%0.615/95/95/71/3F-Score 48/11