Tearsheet

Clear Channel Outdoor (CCO)

Market Price (12/23/2025): $2.16 | Market Cap: $1.1 Bil
Sector: Communication Services | Industry: Advertising

Clear Channel Outdoor (CCO)

Market Price (12/23/2025): $2.16
Market Cap: $1.1 Bil
Sector: Communication Services
Industry: Advertising

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 54%	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 588%
1	Megatrend and thematic drivers Megatrends include Digital Advertising. Themes include Ad-Tech Platforms.	Weak multi-year price returns 2Y Excs Rtn is -17%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%
2			Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.7%
3			Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 81%
4			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.8%
5			Key risks CCO key risks include [1] a crushing and potentially existential debt burden that threatens the company's liquidity and ability to service its obligations.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 54%
1	Megatrend and thematic drivers Megatrends include Digital Advertising. Themes include Ad-Tech Platforms.
2	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%
3	Weak multi-year price returns 2Y Excs Rtn is -17%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 588%
5	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%
6	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.7%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 81%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.8%
9	Key risks CCO key risks include [1] a crushing and potentially existential debt burden that threatens the company's liquidity and ability to service its obligations.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$2.16	$1.37	$1.82	$1.05	$3.31
Market Cap CYE ($ Bil)	1.1	0.7	0.9	0.5	1.6
Total Debt ($ Bil)	6.5	7.0	6.8	7.0	7.2
Total Cash ($ Bil)	0.2	0.1	0.2	0.3	0.4
Enterprise Value ($ Bil)	7.4	7.7	7.7	7.5	8.8
Valuation Ratios
P/S TTM	0.7	0.4	0.6	0.4	0.9
P/EBIT TTM	3.7	2.5	4.1	2.0	-34.0
P/E TTM	-180.7	-3.7	-2.8	-5.2	-3.6
P/FCF TTM	-41.0	-10.7	-6.5	-11.1	-5.5
Sector Ratios
P/S TTM (Sector)	1.0	1.1	1.1	1.2	2.0
P/EBIT TTM (Sector)	1.6	1.7	0.6	1.1	4.7
P/E TTM (Sector)	-0.9	-0.9	-0.6	-0.3	4.3
P/FCF TTM (Sector)	6.6	7.5	6.5	3.1	5.8

	12/23/25	2024	2023
Share Price CYE	$2.16	$1.37	$1.82
Market Cap CYE ($ Bil)	1.1	0.7	0.9
Total Debt ($ Bil)	6.5	7.0	6.8
Total Cash ($ Bil)	0.2	0.1	0.2
Enterprise Value ($ Bil)	7.4	7.7	7.7
Valuation Ratios
P/S TTM	0.7	0.4	0.6
P/EBIT TTM	3.7	2.5	4.1
P/E TTM	-180.7	-3.7	-2.8
P/FCF TTM	-41.0	-10.7	-6.5
Sector Ratios
P/S TTM (Sector)	1.0	1.1	1.1
P/EBIT TTM (Sector)	1.6	1.7	0.6
P/E TTM (Sector)	-0.9	-0.9	-0.6
P/FCF TTM (Sector)	6.6	7.5	6.5

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Metric	Value	Date	Source
Total Displays - Americas	approximately 50,000	9092025	Link
Digital Displays - Americas	over 3,000	9092025	Link
Digital Billboard Displays - U.S.	over 1,900	7212020	Link
Airports Under Contract	over 260	9092025	Link
Programmatic Revenue Growth (YTD vs. prior year YTD)	approximately 80%	9092025	Link

Upcoming
2/23/2026	Earnings Release	Rev: - EPS: -

CCO Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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The requested time period of August 31, 2025, to December 23, 2025, is in the future. As an AI, I do not have access to real-time future market data or news, and therefore cannot provide an analysis of stock movements and their specific causes for this period. My knowledge cutoff is prior to the requested timeframe. Show more

Stock Movement Drivers

Fundamental Drivers

The 43.0% change in CCO stock from 9/22/2025 to 12/22/2025 was primarily driven by a 40.3% change in the company's P/S Multiple.

	9222025	12222025	Change
Stock Price ($)	1.51	2.16	43.05%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1538.89	1569.34	1.98%
P/S Multiple	0.49	0.68	40.34%
Shares Outstanding (Mil)	496.79	497.03	-0.05%
Cumulative Contribution			43.05%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
CCO	43.0%
Market (SPY)	2.7%	43.5%
Sector (XLC)	-1.6%	44.5%

Fundamental Drivers

The 86.2% change in CCO stock from 6/23/2025 to 12/22/2025 was primarily driven by a 81.9% change in the company's P/S Multiple.

	6232025	12222025	Change
Stock Price ($)	1.16	2.16	86.21%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1512.57	1569.34	3.75%
P/S Multiple	0.38	0.68	81.92%
Shares Outstanding (Mil)	490.33	497.03	-1.37%
Cumulative Contribution			86.17%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
CCO	86.2%
Market (SPY)	14.4%	40.2%
Sector (XLC)	12.7%	38.8%

Fundamental Drivers

The 56.5% change in CCO stock from 12/22/2024 to 12/22/2025 was primarily driven by a 54.2% change in the company's Total Revenues ($ Mil).

	12222024	12222025	Change
Stock Price ($)	1.38	2.16	56.52%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1017.67	1569.34	54.21%
P/S Multiple	0.66	0.68	3.18%
Shares Outstanding (Mil)	488.95	497.03	-1.65%
Cumulative Contribution			56.48%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
CCO	56.5%
Market (SPY)	16.9%	55.3%
Sector (XLC)	20.5%	54.4%

Fundamental Drivers

The 109.7% change in CCO stock from 12/23/2022 to 12/22/2025 was primarily driven by a 171.3% change in the company's P/S Multiple.

	12232022	12222025	Change
Stock Price ($)	1.03	2.16	109.71%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1942.76	1569.34	-19.22%
P/S Multiple	0.25	0.68	171.30%
Shares Outstanding (Mil)	475.61	497.03	-4.50%
Cumulative Contribution			109.28%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
CCO	18.0%
Market (SPY)	47.7%	50.0%
Sector (XLC)	63.9%	45.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CCO Return	-42%	101%	-68%	73%	-25%	49%	-29%
Peers Return	1%	31%	-20%	-10%	17%	13%	25%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
CCO Win Rate	50%	75%	33%	58%	33%	58%
Peers Win Rate	50%	67%	42%	36%	53%	53%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
CCO Max Drawdown	-85%	-15%	-71%	-2%	-27%	-38%
Peers Max Drawdown	-57%	-9%	-35%	-36%	-12%	-20%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: LAMR, OUT, BOC. See CCO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	CCO	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-76.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	318.0%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-86.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	613.3%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	590 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-64.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	179.0%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-91.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	1125.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1,480 days

Compare to NCMI, TTD, OMC, IPG, MGNI

In The Past

Clear Channel Outdoor's stock fell -76.1% during the 2022 Inflation Shock from a high on 2/24/2022. A -76.1% loss requires a 318.0% gain to breakeven.

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About Clear Channel Outdoor (CCO)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Clear Channel Outdoor Holdings, Inc. owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures. It also provides street furniture equipment, cleaning and maintenance services, operation of public bike programs, and production services; and a public bicycle rental program, which offers bicycles for rent to the general public in various municipalities. As of December 31, 2021, it owned or operated approximately 69,000 advertising displays in the Americas; and 430,000 advertising displays in Europe. The company was formerly known as Eller Media Company and changed its name to Clear Channel Outdoor Holdings, Inc. in August 2005. Clear Channel Outdoor Holdings, Inc. was founded in 1901 and is headquartered in San Antonio, Texas.

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Here are 1-3 brief analogies for Clear Channel Outdoor (CCO):

The Google of billboards and public advertising displays. (They sell ad space on physical structures rather than digital platforms.)
An advertising network similar to a major TV broadcaster, but for physical outdoor spaces. (They provide a widespread platform for companies to reach audiences through visual ads.)
A real estate company for prime advertising locations. (They own and manage high-visibility physical properties specifically for advertising purposes.)

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Billboards: Provides advertising space on large outdoor structures, including traditional static and modern digital displays.
Street Furniture: Offers advertising opportunities on amenities like bus shelters, newsstands, and city information panels in urban environments.
Transit Displays: Sells ad space on and within various modes of public transport, such as buses, subways, and airport terminals.
Spectaculars and Wallscapes: Features large, custom-built advertising displays, often integrated into buildings or prominent locations in major cities.

AI Analysis | Feedback

Clear Channel Outdoor Holdings, Inc. (symbol: CCO) operates primarily as a business-to-business (B2B) company, selling advertising space on its outdoor media platforms to other companies.

Due to the nature of the outdoor advertising industry, Clear Channel Outdoor serves a vast and highly diversified client base. The company typically does not have a small number of "major customers" that individually account for a significant portion of its revenues (e.g., 10% or more), nor does it publicly disclose the names of its specific advertisers. Instead, its revenue comes from thousands of businesses and their advertising agencies across numerous industries and geographies.

Therefore, instead of listing specific customer company names, we can describe the categories of businesses that are its primary customers:

National and International Brands: Large corporations across a wide range of sectors such as automotive, telecommunications, consumer packaged goods (CPG), technology, financial services, and entertainment. These companies utilize Clear Channel Outdoor's platforms for extensive brand awareness campaigns, product launches, and general market presence across multiple regions or nationally.
Regional and Local Businesses: Companies and organizations targeting specific geographic markets or communities. This category includes local retailers, restaurants, healthcare providers, real estate agencies, educational institutions, event promoters, and small service businesses that use outdoor advertising to reach nearby consumers and build local market share.
Advertising Agencies: While not the ultimate end-advertiser, these agencies act as intermediaries, purchasing media space on behalf of their diverse client portfolios. They represent a significant portion of Clear Channel Outdoor's direct transactional customers, facilitating campaigns for various businesses, from small local enterprises to large global brands.

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Scott Wells CEO, Clear Channel Outdoor Holdings & Clear Channel Outdoor Americas

Scott Wells joined Clear Channel Outdoor Americas as CEO in March 2015 and currently serves as CEO of Clear Channel Outdoor Holdings, Inc. and Clear Channel Outdoor Americas. Before joining Clear Channel Outdoor, he was an Operating Partner at Bain Capital, a private equity firm that was a part owner of iHeartMedia, Inc. At Bain Capital, he was responsible for leading operational improvement and transformation efforts across various investments, including Apple Leisure Group and CRC Health Group. His career also includes executive positions at AT&T, Bain & Company, and Dell. He also served on the Clear Channel Outdoor Holdings, Inc. Board of Directors for six years prior to his CEO appointment.

David Sailer EVP, Chief Financial Officer, Clear Channel Outdoor Holdings, Inc.

David Sailer is the Executive Vice President and Chief Financial Officer of Clear Channel Outdoor Holdings, Inc., a role he assumed effective March 1, 2024. Prior to this, he served as Executive Vice President, Chief Financial Officer of Clear Channel Outdoor America since 2014, and Head of Corporate Development of CCOH since 2022. Before joining Clear Channel Outdoor in 2013, Mr. Sailer spent thirteen years at NBCUniversal, where his final position was Chief Financial Officer of the NBC News Digital Portfolio. His tenure at NBCUniversal included various leadership roles across news and digital properties. He also previously served as Senior Vice President of FP&A for iHeartMedia.

Lynn Feldman EVP, Chief Legal Officer and Corporate Secretary of Clear Channel Outdoor Holdings, Inc.

Lynn Feldman serves as Executive Vice President, Chief Legal Officer and Corporate Secretary of Clear Channel Outdoor Holdings, Inc., advising the board and senior leadership on major transactions, litigation, and financial strategies. Before her time at Clear Channel Outdoor, Feldman held the position of Executive Vice President and General Counsel for Wyndham Hotel Group, a subsidiary of Wyndham Worldwide Corporation. She also served as Senior Vice President, Deputy General Counsel, and public company Corporate Secretary for the parent company, Wyndham Worldwide. Her earlier career involved corporate roles within Cendant Corporation and as a Corporate Associate at Lowenstein Sandler.

Jason Dilger SVP, Chief Accounting Officer, Clear Channel Outdoor Holdings, Inc.

Jason Dilger is the Senior Vice President, Chief Accounting Officer of Clear Channel Outdoor Holdings, Inc., a position he was appointed to in May 2019. In this role, he leads the company's global accounting functions, including financial and regulatory reporting, internal controls, and corporate and technical accounting. Before joining Clear Channel Outdoor Americas in 2011, Mr. Dilger was the Corporate Controller of Sinclair Broadcast Group from 2006 to 2011. He also held various accounting and finance roles at Municipal Mortgage & Equity from 2004 to 2006, and began his career in public accounting with Arthur Andersen and Ernst & Young.

Nichole Boatsman Chief Technology Officer, Clear Channel Outdoor Americas

Nichole Boatsman holds the title of Chief Technology Officer for Clear Channel Outdoor Americas.

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Key Risks to Clear Channel Outdoor (CCO)

Substantial Debt Burden and Liquidity/Financing Risks: Clear Channel Outdoor faces a crushing debt load, reported at approximately $5.7 billion as of December 31, 2024, and $5.293 billion as of March 31, 2025. This significant indebtedness is considered its largest existential threat and poses a risk to the company's ability to service its obligations and fund operations. The company requires a substantial amount of cash to manage its debt, and failure to refinance or generate sufficient cash flow could lead to liquidity issues.
Advertising Shifts to Digital Platforms and Economic Uncertainty: The out-of-home advertising sector faces challenges from a broader shift in advertising budgets towards digital platforms, which are siphoning funds from traditional billboards. Advertisers are increasingly prioritizing real-time targeting offered by digital solutions. Additionally, economic uncertainty, including high inflation and elevated interest rates, could negatively impact overall advertising spend and increase operational costs for CCO.
Regulatory Risks: The out-of-home advertising industry is heavily regulated, and Clear Channel Outdoor is exposed to risks from changes in laws or their enforcement. This includes new data privacy laws and permit requirements for digital billboards, which can add compliance costs. There are also restrictions on the advertising of certain products that could impact operations.

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The widespread adoption of hybrid and remote work models, leading to a sustained reduction in daily commutes and general urban foot traffic, poses a clear emerging threat. This trend directly impacts the fundamental value proposition of Clear Channel Outdoor's business, as the effectiveness of out-of-home advertising relies heavily on audience presence and movement in public spaces. Fewer people commuting or spending time in high-traffic urban areas diminishes the reach and frequency of exposure to billboards and other outdoor advertising assets, potentially reducing their perceived value to advertisers.

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Clear Channel Outdoor (CCO) operates primarily within the Out-of-Home (OOH) advertising market, which encompasses various formats including billboards (both printed and digital), street furniture advertising, and transit/airport advertising. A significant and growing component of this market is Digital Out-of-Home (DOOH) advertising.

The addressable market sizes for Clear Channel Outdoor's main products and services are as follows:

Global Out-of-Home (OOH) Advertising Market: Approximately USD 31.89 billion in 2024. This market is projected to reach USD 66.93 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.72% over the forecast period (2025-2032). Other estimates for the global OOH market in 2024 range from USD 28.48 billion to USD 33.9 billion.
U.S. Out-of-Home (OOH) Advertising Market: Approximately USD 9.1 billion in 2024. The U.S. OOH Advertising Market is further projected to reach USD 15.64 billion by 2032, with a CAGR of 8.97% from 2025-2032.
Global Digital Out-of-Home (DOOH) Advertising Market: (a major segment within OOH advertising) Approximately USD 20.74 billion in 2024. This market is projected to reach USD 39.12 billion by 2030, growing at a CAGR of 10.7% from 2025 to 2030. Other estimates for the global DOOH market in 2024 range from USD 21.5 billion to USD 27.53 billion.

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Clear Channel Outdoor (CCO) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and market trends:

Digital Out-of-Home (DOOH) Expansion and Technological Advancement: A primary driver of revenue growth for Clear Channel Outdoor is the continued expansion of its digital out-of-home (DOOH) inventory. This includes investing in premium digital displays, scaling programmatic buying capabilities, and leveraging analytics platforms such as RADAR to deliver measurable campaigns. The company's Airports segment, for instance, experienced a 37.4% surge in digital revenue in Q3 2025, highlighting the impact of these digital investments.
Focused U.S. Market Strategy and Customer Centricity: Clear Channel Outdoor is strategically streamlining its operations to become a U.S.-focused business, having divested several international assets. This pivot allows for the reallocation of capital towards high-growth domestic opportunities. The company's "Focus on Customer Centricity" pillar emphasizes understanding customer needs and aligning them with operational excellence and inventory to drive revenue.
Enhanced Sales Execution and Growth in Key Channels: The company plans to drive sales execution by targeting growth in key accounts and employing a segmented sales team approach to match market opportunities. Clear Channel Outdoor has observed growth in both national and local sales channels, particularly in major markets like New York and San Francisco. Additionally, efforts are underway to expand its presence in vertical markets such as auto and beverages.
Strong Performance in the Airports Segment: The Airports segment continues to be a significant contributor to revenue growth. In Q3 2025, this segment demonstrated a remarkable 16.1% year-over-year revenue increase, propelled by strong digital revenue and national sales performance. This segment is identified as a stable, high-margin business, indicating its ongoing potential for future growth.
Strategic Divestitures and Debt Reduction Enabling Reinvestment: While not a direct revenue driver, the successful divestiture of international businesses and the subsequent reduction in debt are critical enablers for future revenue growth. These actions strengthen the company's balance sheet and improve financial flexibility, allowing for targeted reinvestment into high-return U.S. growth initiatives. This strategy aims to create a "self-reinforcing cash flow flywheel" that combines revenue growth, margin expansion, and cash conversion to support long-term growth.

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Outbound Investments

  Clear Channel Outdoor has undertaken a strategy of divesting international operations, with completed sales totaling $745 million since 2023.
  The company agreed to sell its Europe-North segment for $625 million in January 2025, completing the transaction on March 31, 2025, and intending to use $375 million of the proceeds for debt repayment.
  Clear Channel also agreed to sell its business in Spain for approximately $135 million in September 2025, with plans to use the net proceeds to reduce outstanding debt.


Capital Expenditures

  Total capital expenditures for continuing operations were $122.6 million in 2021, $155.7 million in 2022, and $144.8 million in 2023.
  Capital expenditures are forecast to be between $60 million and $70 million for the full year 2025.
  The primary focus of capital expenditures is the construction of new advertising structures, including the continued deployment and expansion of digital displays, as well as investments in technology capabilities and the RADAR analytics platform.

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Trade Desk

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Higher Rev Chg LTM (Value for CCO: 54.2%)

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Telephone and Data Systems

EVER (57.8%)

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Higher Rev Chg 3Y Avg (Value for CCO: -0.3%)

META (17.3%)

Meta Platforms

NFLX (11.4%)

Netflix

GOOGL (11.0%)

Alphabet

DIS (4.5%)

Walt Disney

TMUS (2.4%)

T-Mobile US

Higher Op Mgn LTM (Value for CCO: 19.3%)

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

NFLX (29.1%)

Netflix

TMUS (22.6%)

T-Mobile US

T (19.5%)

AT&T

Higher CFO/Rev LTM (Value for CCO: 5.6%)

META (56.8%)

Meta Platforms

GOOGL (39.3%)

Alphabet

TMUS (31.3%)

T-Mobile US

NFLX (22.1%)

Netflix

DIS (19.2%)

Walt Disney

Higher FCF/Rev LTM (Value for CCO: -1.7%)

META (23.7%)

Meta Platforms

NFLX (20.7%)

Netflix

GOOGL (19.1%)

Alphabet

TMUS (16.1%)

T-Mobile US

DIS (10.7%)

Walt Disney

Higher Total Yield (Value for CCO: -0.6%)

TMUS (7.2%)

T-Mobile US

DIS (6.6%)

Walt Disney

META (3.8%)

Meta Platforms

GOOGL (3.6%)

Alphabet

NFLX (2.6%)

Netflix

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CCO: -0.3% | 0.7x)

UNH (11.4% | 0.7x)

UnitedHealth

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

GM (8.6% | 0.4x)

General Motors

ELV (8.4% | 0.4x)

Elevance Health

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CCO: -0.3% | 3.5x)

IBKR (48.1% | 3.5x)

Interactive Brokers

JEF (14.6% | 2.9x)

Jefferies Financial

BIPC (30.2% | 2.5x)

Brookfield Infrastructure

CZR (2.5% | 2.5x)

Caesars Entertainment

SNEX (29.6% | 2.5x)

StoneX

Higher Rev Chg LTM (Value for CCO: 54.2%)

APP (86.4%)

AppLovin

HOOD (74.6%)

Robinhood Markets

NVDA (65.2%)

NVIDIA

OKE (58.4%)

ONEOK

TFC (55.5%)

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Higher Rev Chg 3Y Avg (Value for CCO: -0.3%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for CCO: 19.3%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

LLY (43.0%)

Eli Lilly

AVGO (40.8%)

Broadcom

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for CCO: 5.6%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

AVGO (43.1%)

Broadcom

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for CCO: -1.7%)

AVGO (42.1%)

Broadcom

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

AAPL (23.5%)

Apple

AMZN (2.0%)

Amazon.com

Higher Total Yield (Value for CCO: -0.6%)

MSFT (3.6%)

Microsoft

AMZN (2.9%)

Amazon.com

AAPL (2.8%)

Apple

NVDA (2.2%)

NVIDIA

AVGO (1.4%)

Broadcom

		Best Bets In Communication Services Sector
	CCO	META	TTD	MTCH	PINS	CARG	NXST	TGNA	T	UPWK	FWONA
What You Pay
P/E	-180.7	28.4	41.5	14.0	9.0	25.1	11.7	9.1	7.8	11.4	10.6
P/EBIT	3.7	19.6	34.5	9.5	63.8	18.4	5.6	5.1	5.0	24.5	63.2
What You Get
Rev Chg Q	8.1%	26.2%	17.7%	2.1%	16.8%	3.2%	-12.3%	-19.3%	1.6%	4.1%	19.1%
Rev Chg LTM	54.2%	21.3%	20.8%	-0.5%	16.8%	4.2%	-1.4%	-2.7%	2.0%	2.5%	8.7%
Rev Chg 3Y Avg	-0.3%	17.3%	23.5%	2.7%	13.6%	-15.9%	1.2%	-2.8%	1.1%	9.7%	16.5%
FCF/Rev 3Y Avg	-5.9%	29.0%	26.6%	25.8%	22.9%	18.6%	17.6%	17.4%	16.3%	15.4%	14.7%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 12%, alpha of 0.5%, and sharpe of 0.56

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Clear Channel Outdoor Earnings Notes
2	null
3	Clear Channel Outdoor (CCO) Operating Cash Flow Comparison	Financials
4	Clear Channel Outdoor (CCO) Net Income Comparison	Financials
5	Clear Channel Outdoor (CCO) Debt Comparison	Financials
6	Clear Channel Outdoor (CCO) Operating Income Comparison	Financials
7	Clear Channel Outdoor (CCO) Revenue Comparison	Financials
8	Clear Channel Outdoor (CCO) EBITDA Comparison	Financials
9	Clear Channel Outdoor (CCO) Tax Expense Comparison	Financials
10	CCO Dip Buy Analysis
11	ARTICLES
12	Is Clear Channel Outdoor a Better Buy Than Omnicom?		December 12th, 2025

	Title
0	DASHBOARDS
1	Clear Channel Outdoor Earnings Notes
2	null
3	Clear Channel Outdoor (CCO) Operating Cash Flow Comparison
4	Clear Channel Outdoor (CCO) Net Income Comparison
5	Clear Channel Outdoor (CCO) Debt Comparison
6	Clear Channel Outdoor (CCO) Operating Income Comparison
7	Clear Channel Outdoor (CCO) Revenue Comparison
8	Clear Channel Outdoor (CCO) EBITDA Comparison
9	Clear Channel Outdoor (CCO) Tax Expense Comparison
10	CCO Dip Buy Analysis
11	ARTICLES
12	Is Clear Channel Outdoor a Better Buy Than Omnicom?

Trade Ideas

Select ideas related to CCO. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper	11302025	PINS	Pinterest	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.0%	1.0%	-1.4%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	TMUS	T-Mobile US	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-6.1%	-6.1%	-6.4%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	Z	Zillow	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-3.5%	-3.5%	-5.1%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11072025	IRDM	Iridium Communications	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	8.7%	8.7%	-5.6%
TTD_10032025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10032025	TTD	Trade Desk	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-27.7%	-27.7%	-29.8%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Clear Channel Outdoor

Peers to compare with:

Financials

	CCO	LAMR	OUT	BOC	Median
Name	Clear Ch.	Lamar Ad.	Outfront.	Boston O.
Mkt Price	2.16	127.50	24.34	12.49	18.41
Mkt Cap	1.1	12.9	4.1	0.4	2.6
Rev LTM	1,569	2,250	1,812	113	1,690
Op Inc LTM	303	538	286	-3	295
FCF LTM	-26	711	211	-7	102
FCF 3Y Avg	-77	674	181	-20	80
CFO LTM	88	872	314	21	201
CFO 3Y Avg	65	832	274	18	170

Growth & Margins

	CCO	LAMR	OUT	BOC	Median
Name	Clear Ch.	Lamar Ad.	Outfront.	Boston O.
Rev Chg LTM	54.2%	3.0%	-1.5%	7.2%	5.1%
Rev Chg 3Y Avg	-0.3%	4.2%	1.3%	15.5%	2.8%
Rev Chg Q	8.1%	3.8%	3.5%	3.7%	3.8%
QoQ Delta Rev Chg LTM	2.0%	1.0%	0.9%	0.9%	0.9%
Op Mgn LTM	19.3%	23.9%	15.8%	-2.8%	17.6%
Op Mgn 3Y Avg	20.4%	27.5%	15.1%	-6.4%	17.8%
QoQ Delta Op Mgn LTM	0.5%	-0.1%	0.9%	-0.3%	0.2%
CFO/Rev LTM	5.6%	38.8%	17.3%	18.8%	18.1%
CFO/Rev 3Y Avg	5.2%	38.2%	15.0%	17.2%	16.1%
FCF/Rev LTM	-1.7%	31.6%	11.7%	-6.1%	5.0%
FCF/Rev 3Y Avg	-5.9%	31.0%	9.9%	-20.1%	2.0%

Valuation

	CCO	LAMR	OUT	BOC	Median
Name	Clear Ch.	Lamar Ad.	Outfront.	Boston O.
Mkt Cap	1.1	12.9	4.1	0.4	2.6
P/S	0.7	5.7	2.2	3.5	2.9
P/EBIT	3.7	20.9	10.0	1,410.7	15.4
P/E	-180.7	29.8	32.8	-1,698.6	-75.5
P/CFO	12.2	14.8	13.0	18.6	13.9
Total Yield	-0.6%	3.4%	5.6%	-0.1%	1.7%
Dividend Yield	0.0%	0.0%	2.6%	0.0%	0.0%
FCF Yield 3Y Avg	-10.0%	6.0%	7.2%	-4.1%	0.9%
D/E	6.0	0.4	1.0	0.3	0.7
Net D/E	5.9	0.4	1.0	0.1	0.7

Returns

	CCO	LAMR	OUT	BOC	Median
Name	Clear Ch.	Lamar Ad.	Outfront.	Boston O.
1M Rtn	18.0%	-1.5%	7.7%	-0.3%	3.7%
3M Rtn	43.0%	4.1%	31.2%	-5.5%	17.6%
6M Rtn	86.2%	8.3%	57.9%	-10.8%	33.1%
12M Rtn	56.5%	9.4%	39.4%	-12.8%	24.4%
3Y Rtn	109.7%	58.3%	84.3%	-51.3%	71.3%
1M Excs Rtn	20.4%	-4.0%	7.3%	-2.9%	2.2%
3M Excs Rtn	38.8%	0.7%	28.0%	-8.1%	14.3%
6M Excs Rtn	73.3%	-5.2%	42.1%	-25.3%	18.4%
12M Excs Rtn	39.4%	-6.8%	27.4%	-29.9%	10.3%
3Y Excs Rtn	25.3%	-21.1%	-1.6%	-128.5%	-11.4%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/24/2025	2/26/2024	2/28/2023	2/24/2022	2/25/2021	2/27/2020
Key Financials
Total Revenue	1,569	1,505	1,434	1,382	1,769	1,855	2,684
EBITDA	476	508	473	548	326	122	445
Operating Income	303	279	217	279	178	-142	258
Net Income	-6	-179	-311	-97	-434	-583	-363
EPS	-0.01	-0.37	-0.65	-0.20	-0.93	-1.25	-0.88
Growth Rates
Total Revenue Growth	54.2%	5.0%	3.8%	-21.9%	-4.6%	-30.9%	-1.4%
EBITDA Growth	-5.2%	7.3%	-13.7%	68.0%	168.0%	-72.6%	-17.1%
Operating Income Growth	7.1%	28.8%	-22.2%	56.7%	225.2%	-155.0%	-0.5%
Net Income Growth	95.7%	42.3%	-221.9%	77.7%	25.6%	-60.4%	-66.5%
Margins
EBITDA Margin	30.3%	33.7%	33.0%	39.7%	18.5%	6.6%	16.6%
Operating Income Margin	19.3%	18.5%	15.1%	20.2%	10.0%	-7.7%	9.6%
Net Income Margin	-0.4%	-11.9%	-21.7%	-7.0%	-24.5%	-31.4%	-13.5%
Cash & Debt
Total Cash	155	110	172	282	411	785	399
Total Debt	6,463	7,023	6,754	7,011	7,233	7,258	7,032
Net Debt / (Cash)	6,308	6,913	6,583	6,729	6,822	6,473	6,633
Cash Flows
Net Cash from Operations	88	80	31	140	-133	-138	215
Free Cash from Operations	-26	-63	-135	-45	-282	-262	-18
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	0	1
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/5/2025	5/1/2025	2/24/2025	10/31/2024	8/7/2024	5/9/2024	2/26/2024	11/8/2023	8/7/2023	5/9/2023	2/28/2023
Key Financials Quarterly
Total Revenue	406	403	334	427	375	376	327	-61	527	531	437	-70
Ebitda	81	150	88	157	123	141	87	151	114	136	72	239
Operating Income	81	77	45	100	67	68	44	104	70	52	-9	88
Net Income	-60	10	63	-18	-33	-39	-90	25	-263	-37	-35	99
EPS	-0.12	0.02	0.13	-0.04	-0.07	-0.08	-0.19	0.05	-0.55	-0.08	-0.07	0.21
Key Financials TTM
Total Revenue TTM	1,569	1,539	1,513	1,505	1,018	1,169	1,324	1,434	1,425	1,401	1,514	1,602
Ebitda TTM	476	519	509	508	502	493	488	473	562	559	550	529
Operating Income TTM	303	289	280	279	283	286	270	217	201	213	253	259
Net Income TTM	-6	22	-27	-179	-137	-368	-366	-311	-237	-13	-42	-97
Growth Rates Quarterly
Total Revenue Growth	8.1%	7.0%	2.2%	801.4%	-28.8%	-29.1%	-25.3%	13.4%	4.7%	-17.5%	-16.8%	-126.0%
EBITDA Growth	-34.5%	6.7%	1.5%	3.8%	8.2%	3.7%	20.1%	-36.9%	2.4%	6.9%	42.4%	-40.7%
Operating Income Growth	20.9%	13.1%	2.5%	-3.9%	-4.0%	30.5%	567.6%	18.3%	-14.7%	-43.5%	-159.9%	-60.2%
Net Income Growth	-84.7%	124.3%	169.7%	-172.2%	87.7%	-5.0%	-156.8%	-74.9%	-562.8%	43.2%	61.2%	54.3%
Margins Quarterly
EBITDA Margin	19.9%	37.3%	26.4%	36.7%	32.9%	37.4%	26.6%	-	21.7%	25.6%	16.5%	-
Operating Income Margin	19.9%	19.2%	13.5%	23.5%	17.8%	18.2%	13.4%	-	13.2%	9.9%	-2.1%	-
Net Income Margin	-14.8%	2.4%	18.7%	-4.2%	-8.7%	-10.4%	-27.4%	-	-50.0%	-7.0%	-8.0%	-
Cash & Debt
Total Cash	155	139	396	110	201	189	193	172	313	233	340	282
Total Debt	6,463	6,431	6,653	7,023	7,246	7,195	7,191	6,754	7,118	7,135	7,159	7,011
Net Debt / (Cash)	6,308	6,292	6,258	6,913	7,045	7,006	6,998	6,583	6,805	6,902	6,819	6,729
Cash Flows Quarterly
FCF from Operations	56	-13	15	29	54	31	-35	33	53	-65	11	26
Cash Flows TTM
FCF from Operations TTM	88	86	129	80	83	82	-14	31	24	66	101	140
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	2.6%	1.9%	1.9%	3.9%	2.1%	2.2%	1.7%	4.2%	2.8%	2.0%	-0.3%	3.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.9%	3.0%	2.7%	2.5%	2.2%	2.4%	2.4%	1.9%	0.3%	2.1%	0.3%	0.2%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
America	1,101	1,106
Airports	312	256
Other	22	86
Europe-North		566
Single segment			2,241	1,855	2,684
Total	1,434	2,014	2,241	1,855	2,684

Operating Income by Segment

$ Mil	2024	2023
America	468	499
Airports	68	61
Other operating income, net	4
Other	3	12
Impairment charges	0	-23
Restructuring and other costs	-1	-2
Corporate expenses	-129	-162
Depreciation and amortization	-197	-218
Europe-North		104
Other operating expense, net		-2
Total	217	270

Price Behavior

Price Behavior

Market Price	$2.16
Market Cap ($ Bil)	1.1
First Trading Date	11/14/2005
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$1.88	$1.35
DMA Trend	up	up
Distance from DMA	15.0%	59.6%
	3M	1YR
Volatility	62.7%	59.5%
Downside Capture	147.73	145.24
Upside Capture	304.61	167.76
Correlation (SPY)	43.1%	55.0%

CCO Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.35	2.41	2.34	2.56	1.68	1.76
Up Beta	2.01	2.83	3.09	3.82	2.02	1.98
Down Beta	1.53	1.68	1.99	1.96	1.24	1.30
Up Capture	342%	379%	414%	406%	248%	909%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	8	16	29	56	104	319
Down Capture	210%	193%	138%	174%	129%	110%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	20	27	55	117	351

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of CCO With Other Asset Classes (Last 1Y)
	CCO	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	49.0%	17.3%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	59.2%	18.8%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	0.89	0.72	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		54.7%	55.4%	13.9%	20.0%	45.8%	26.4%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of CCO With Other Asset Classes (Last 5Y)
	CCO	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.5%	12.9%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	69.4%	20.9%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.42	0.53	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		42.8%	44.8%	10.7%	15.6%	40.3%	27.7%

Based On 10-Year Data

		Comparison of CCO With Other Asset Classes (Last 10Y)
	CCO	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.1%	13.0%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	70.1%	22.6%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.28	0.53	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		41.3%	42.1%	5.2%	18.1%	39.8%	16.4%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	16,160,843
Short Interest: % Change Since 11152025	0.6%
Average Daily Volume	2,285,498
Days-to-Cover Short Interest	7.07
Basic Shares Quantity	497,030,000
Short % of Basic Shares	3.3%

Returns Analyses

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Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/6/2025	5.6%	6.7%	15.7%
7/21/2025	-2.5%	-5.1%	-0.8%
2/24/2025	-2.2%	-7.4%	-14.1%
10/31/2024	-1.4%	8.8%	6.8%
8/7/2024	-2.9%	0.7%	7.9%
5/9/2024	-2.5%	-2.5%	-14.3%
2/26/2024	5.3%	-4.8%	-17.0%
11/8/2023	-0.8%	8.5%	26.9%
...
SUMMARY STATS
# Positive	7	12	8
# Negative	15	10	14
Median Positive	5.6%	4.4%	18.8%
Median Negative	-3.2%	-6.2%	-12.3%
Max Positive	15.5%	32.7%	43.6%
Max Negative	-13.7%	-15.8%	-65.8%

	Forward Returns
11/6/2025	5.6%	6.7%	15.7%
7/21/2025	-2.5%	-5.1%	-0.8%
2/24/2025	-2.2%	-7.4%	-14.1%
10/31/2024	-1.4%	8.8%	6.8%
8/7/2024	-2.9%	0.7%	7.9%
5/9/2024	-2.5%	-2.5%	-14.3%
2/26/2024	5.3%	-4.8%	-17.0%
11/8/2023	-0.8%	8.5%	26.9%
8/7/2023	-3.6%	-8.9%	-17.3%
5/9/2023	-4.5%	-2.7%	21.8%
2/28/2023	-7.9%	-15.8%	-39.0%
11/8/2022	-11.2%	23.1%	-6.5%
8/9/2022	6.7%	32.7%	10.0%
5/10/2022	-5.7%	2.1%	-25.3%
2/24/2022	-7.2%	-8.7%	-8.5%
11/9/2021	-3.2%	0.9%	-10.6%
7/29/2021	11.7%	0.8%	-3.8%
5/10/2021	-13.7%	-15.6%	-7.0%
2/1/2021	0.5%	0.5%	-7.5%
11/9/2020	15.5%	26.5%	43.6%
7/21/2020	-1.1%	-1.7%	27.3%
2/27/2020	4.9%	0.5%	-65.8%
SUMMARY STATS
# Positive	7	12	8
# Negative	15	10	14
Median Positive	5.6%	4.4%	18.8%
Median Negative	-3.2%	-6.2%	-12.3%
Max Positive	15.5%	32.7%	43.6%
Max Negative	-13.7%	-15.8%	-65.8%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8052025	10-Q 6/30/2025
3312025	5012025	10-Q 3/31/2025
12312024	2242025	10-K 12/31/2024
9302024	10312024	10-Q 9/30/2024
6302024	8072024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	2262024	10-K 12/31/2023
9302023	11082023	10-Q 9/30/2023
6302023	8072023	10-Q 6/30/2023
3312023	5092023	10-Q 3/31/2023
12312022	2282023	10-K 12/31/2022
9302022	11082022	10-Q 9/30/2022
6302022	8092022	10-Q 6/30/2022
3312022	5102022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Clear Channel Outdoor (CCO)

Market Price (12/23/2025): $2.16 | Market Cap: $1.1 BilSector: Communication Services | Industry: Advertising

Clear Channel Outdoor (CCO)

Market Price (12/23/2025): $2.16Market Cap: $1.1 BilSector: Communication ServicesIndustry: Advertising

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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CCO Stock

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About Clear Channel Outdoor (CCO)

Key Risks to Clear Channel Outdoor (CCO)

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Better Bets than Clear Channel Outdoor (CCO)

INDUSTRY: Advertising

Higher Rev Chg 3Y Avg | Lower P/S (Values for CCO: -0.3% | 0.7x)

Higher Rev Chg 3Y Avg (Value for CCO: -0.3%)

Higher CFO/Rev LTM (Value for CCO: 5.6%)

Higher FCF/Rev LTM (Value for CCO: -1.7%)

Higher Total Yield (Value for CCO: -0.6%)

SECTOR: Communication Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for CCO: -0.3% | 0.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CCO: -0.3% | 3.5x)

Higher Rev Chg LTM (Value for CCO: 54.2%)

Higher Rev Chg 3Y Avg (Value for CCO: -0.3%)

Higher Op Mgn LTM (Value for CCO: 19.3%)

Higher CFO/Rev LTM (Value for CCO: 5.6%)

Higher FCF/Rev LTM (Value for CCO: -1.7%)

Higher Total Yield (Value for CCO: -0.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CCO: -0.3% | 0.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CCO: -0.3% | 3.5x)

Higher Rev Chg LTM (Value for CCO: 54.2%)

Higher Rev Chg 3Y Avg (Value for CCO: -0.3%)

Higher Op Mgn LTM (Value for CCO: 19.3%)

Higher CFO/Rev LTM (Value for CCO: 5.6%)

Higher FCF/Rev LTM (Value for CCO: -1.7%)

Higher Total Yield (Value for CCO: -0.6%)

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Financials

Market Price (12/23/2025): $2.16 | Market Cap: $1.1 Bil
Sector: Communication Services | Industry: Advertising

Market Price (12/23/2025): $2.16
Market Cap: $1.1 Bil
Sector: Communication Services
Industry: Advertising