Outfront Media (OUT)
Market Price (2/7/2026): $27.08 | Market Cap: $4.5 BilSector: Real Estate | Industry: Other Specialized REITs
Outfront Media (OUT)
Market Price (2/7/2026): $27.08Market Cap: $4.5 BilSector: Real EstateIndustry: Other Specialized REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.1%, Dividend Yield is 2.3% | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 90% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% | Weak multi-year price returns3Y Excs Rtn is -1.8% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.5% |
| Low stock price volatilityVol 12M is 39% | Key risksOUT key risks include [1] a significant revenue dependence on key municipal transit contracts that are subject to non-renewal or termination. | |
| Megatrend and thematic driversMegatrends include Digital Advertising. Themes include Ad-Tech Platforms. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.1%, Dividend Yield is 2.3% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 39% |
| Megatrend and thematic driversMegatrends include Digital Advertising. Themes include Ad-Tech Platforms. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns3Y Excs Rtn is -1.8% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 90% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.5% |
| Key risksOUT key risks include [1] a significant revenue dependence on key municipal transit contracts that are subject to non-renewal or termination. |
Qualitative Assessment
AI Analysis | Feedback
Outfront Media (OUT) stock has gained about 55% since 10/31/2025 because of the following key factors:
1. Multiple Analyst Upgrades and Favorable Price Target Revisions. Outfront Media (OUT) saw significant analyst attention, with JPMorgan upgrading its stock from Neutral to Overweight on November 12, 2025, and raising its price target from $19 to $25. This upgrade was driven by expectations of faster projected earnings growth, including adjusted EBITDA increases of 12% in Q4 2025 and 9% in 2026, which were anticipated to outpace a key competitor. Other firms like Morgan Stanley also upgraded OUT from Hold to Buy, increasing its price target to $28 by December 16, 2025, and Wells Fargo maintained a Buy rating, raising its target to $27 by December 18, 2025. The overall analyst consensus shifted to a "Strong Buy" rating with an average price target of $25.2 as of December 18, 2025.
2. Robust Third Quarter 2025 Financial Results. The company reported strong third-quarter 2025 earnings on November 6, 2025, exceeding analyst expectations with an earnings per share (EPS) of $0.29, surpassing the forecasted $0.25. This represented a 16% positive surprise. Consolidated revenue grew by 3.5% year-over-year, primarily fueled by a significant 24% increase in transit revenue. This strong performance also led to a 17% year-over-year rise in consolidated operating income before depreciation and amortization (OIBDA) and a 24% increase in Adjusted Funds From Operations (AFFO).
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1. Multiple Analyst Upgrades and Favorable Price Target Revisions. Outfront Media (OUT) saw significant analyst attention, with JPMorgan upgrading its stock from Neutral to Overweight on November 12, 2025, and raising its price target from $19 to $25. This upgrade was driven by expectations of faster projected earnings growth, including adjusted EBITDA increases of 12% in Q4 2025 and 9% in 2026, which were anticipated to outpace a key competitor. Other firms like Morgan Stanley also upgraded OUT from Hold to Buy, increasing its price target to $28 by December 16, 2025, and Wells Fargo maintained a Buy rating, raising its target to $27 by December 18, 2025. The overall analyst consensus shifted to a "Strong Buy" rating with an average price target of $25.2 as of December 18, 2025.
2. Robust Third Quarter 2025 Financial Results. The company reported strong third-quarter 2025 earnings on November 6, 2025, exceeding analyst expectations with an earnings per share (EPS) of $0.29, surpassing the forecasted $0.25. This represented a 16% positive surprise. Consolidated revenue grew by 3.5% year-over-year, primarily fueled by a significant 24% increase in transit revenue. This strong performance also led to a 17% year-over-year rise in consolidated operating income before depreciation and amortization (OIBDA) and a 24% increase in Adjusted Funds From Operations (AFFO).
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Stock Movement Drivers
Fundamental Drivers
The 54.0% change in OUT stock from 10/31/2025 to 2/6/2026 was primarily driven by a 33.4% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.46 | 26.89 | 54.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,796 | 1,812 | 0.9% |
| Net Income Margin (%) | 6.0% | 6.9% | 14.5% |
| P/E Multiple | 27.1 | 36.2 | 33.4% |
| Shares Outstanding (Mil) | 167 | 167 | -0.1% |
| Cumulative Contribution | 54.0% |
Market Drivers
10/31/2025 to 2/6/2026| Return | Correlation | |
|---|---|---|
| OUT | 54.0% | |
| Market (SPY) | 1.3% | 11.8% |
| Sector (XLRE) | 2.7% | 37.9% |
Fundamental Drivers
The 57.9% change in OUT stock from 7/31/2025 to 2/6/2026 was primarily driven by a 238.4% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.03 | 26.89 | 57.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,813 | 1,812 | -0.1% |
| Net Income Margin (%) | 14.6% | 6.9% | -53.1% |
| P/E Multiple | 10.7 | 36.2 | 238.4% |
| Shares Outstanding (Mil) | 166 | 167 | -0.5% |
| Cumulative Contribution | 57.9% |
Market Drivers
7/31/2025 to 2/6/2026| Return | Correlation | |
|---|---|---|
| OUT | 57.9% | |
| Market (SPY) | 9.6% | 18.1% |
| Sector (XLRE) | 2.2% | 43.5% |
Fundamental Drivers
The 55.9% change in OUT stock from 1/31/2025 to 2/6/2026 was primarily driven by a 216.9% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.25 | 26.89 | 55.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,839 | 1,812 | -1.5% |
| Net Income Margin (%) | 13.3% | 6.9% | -48.5% |
| P/E Multiple | 11.4 | 36.2 | 216.9% |
| Shares Outstanding (Mil) | 162 | 167 | -3.1% |
| Cumulative Contribution | 55.9% |
Market Drivers
1/31/2025 to 2/6/2026| Return | Correlation | |
|---|---|---|
| OUT | 55.9% | |
| Market (SPY) | 15.8% | 61.6% |
| Sector (XLRE) | 3.7% | 59.7% |
Fundamental Drivers
The 69.9% change in OUT stock from 1/31/2023 to 2/6/2026 was primarily driven by a 128.4% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.82 | 26.89 | 69.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,742 | 1,812 | 4.0% |
| Net Income Margin (%) | 9.2% | 6.9% | -25.3% |
| P/E Multiple | 15.8 | 36.2 | 128.4% |
| Shares Outstanding (Mil) | 160 | 167 | -4.3% |
| Cumulative Contribution | 69.9% |
Market Drivers
1/31/2023 to 2/6/2026| Return | Correlation | |
|---|---|---|
| OUT | 69.9% | |
| Market (SPY) | 76.2% | 53.5% |
| Sector (XLRE) | 13.5% | 55.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| OUT Return | 38% | -34% | -8% | 41% | 41% | 11% | 84% |
| Peers Return | 52% | -31% | 17% | -5% | 19% | -1% | 38% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 81% |
Monthly Win Rates [3] | |||||||
| OUT Win Rate | 67% | 42% | 42% | 58% | 67% | 100% | |
| Peers Win Rate | 69% | 39% | 42% | 44% | 47% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| OUT Max Drawdown | -12% | -41% | -46% | -11% | -26% | -2% | |
| Peers Max Drawdown | -10% | -45% | -21% | -17% | -24% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LAMR, CCO, BOC.
[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] 2026 data is for the year up to 2/6/2026 (YTD)
How Low Can It Go
| Event | OUT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -71.2% | -25.4% |
| % Gain to Breakeven | 247.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -74.2% | -33.9% |
| % Gain to Breakeven | 287.5% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -39.2% | -19.8% |
| % Gain to Breakeven | 64.4% | 24.7% |
| Time to Breakeven | 227 days | 120 days |
Compare to LAMR, CCO, BOC
In The Past
Outfront Media's stock fell -71.2% during the 2022 Inflation Shock from a high on 3/29/2022. A -71.2% loss requires a 247.4% gain to breakeven.
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About Outfront Media (OUT)
Outfront Media Inc. leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, Outfront Media Inc. will fundamentally change the ways advertisers engage audiences on-the-go.
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Here are 1-3 brief analogies for Outfront Media:
- American Tower for outdoor advertising infrastructure.
- The Google or Facebook of physical advertising, like billboards and transit ads.
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* **Billboards (Static & Digital)**: Providing advertising space on large, prominent structures along highways and roadways. * **Transit Advertising**: Offering advertising placements on and within public transportation vehicles and at transit hubs. * **Street Furniture Advertising**: Delivering advertising opportunities on urban amenities like bus shelters, benches, and kiosks. * **Digital Out-of-Home (DOOH) Solutions**: Deploying dynamic digital screens across various formats for flexible and targeted advertising campaigns. * **Experiential Marketing Platforms**: Facilitating brand activations and immersive consumer experiences in high-visibility locations.AI Analysis | Feedback
Outfront Media (symbol: OUT) primarily sells its advertising inventory and services to **other companies**. As an out-of-home (OOH) advertising company, Outfront Media's customers are businesses and organizations that purchase advertising space on its billboards, transit displays, and other OOH assets to reach consumers. Due to the nature of the advertising industry, Outfront Media serves a broad and diverse client base, and no single customer or a small group of customers typically constitutes a "major customer" in terms of revenue concentration that would require specific disclosure in their financial filings. Therefore, rather than specific customer names, it's more appropriate to describe the categories of companies that utilize Outfront Media's services: 1. **Advertising Agencies:** These agencies represent various brands and are often the direct contractual clients of Outfront Media, purchasing media space on behalf of their clients. They act as intermediaries for a multitude of national, regional, and local advertisers. 2. **National and Regional Brands:** Businesses from a wide range of industries directly (or through their agencies) buy advertising space to promote their products, services, or brands. This includes companies in sectors such as: * Technology and Telecommunications (e.g., wireless carriers, streaming services) * Automotive (e.g., car manufacturers and dealerships) * Consumer Packaged Goods (CPG) (e.g., food and beverage companies) * Retail (e.g., department stores, e-commerce brands) * Financial Services (e.g., banks, credit card companies) * Entertainment and Media (e.g., movie studios, TV networks, music labels) * Healthcare (e.g., hospitals, pharmaceutical companies) 3. **Local Businesses and Public Service Advertisers:** Smaller, local businesses target specific geographic markets where Outfront Media has inventory. Additionally, government entities, non-profit organizations, and political campaigns often use OOH advertising for public service announcements, awareness campaigns, or voter outreach. Since Outfront Media serves a vast array of advertisers and agencies, there are no specific "major customer companies" that account for a significant portion of its revenue, and thus no individual company symbols to list as their major customers.AI Analysis | Feedback
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Nick Brien, Chief Executive Officer
Nick Brien was appointed Chief Executive Officer of OUTFRONT Media in August 2025, after serving as Interim CEO since February 2025. With over four decades of global experience, he has held senior leadership roles in advertising, media, and digital marketing, including CEO positions at Amobee and Enthusiast Gaming Holdings Inc. Brien has also served in leadership capacities at Publicis, Dentsu, McCann Worldgroup, IPG Mediabrands, Hearst, iCrossing, Leo Burnett, Arc Worldwide, and Starcom Mediavest Group, where he was recognized for transforming organizations and leading them through periods of rapid expansion and change. He has been a member of OUTFRONT Media's Board of Directors since October 2014.
Matthew Siegel, Executive Vice President, Chief Financial Officer
Matthew Siegel has served as OUTFRONT Media's Executive Vice President and Chief Financial Officer since June 2018. Prior to joining OUTFRONT, he was Executive Vice President and Chief Financial Officer of CBS Radio Inc. from November 2016 to November 2017, where he managed all financial functions before its merger with Entercom Communications Corp. He also held senior finance roles at Time Warner Cable Inc., including Acting Co-Chief Financial Officer, Senior Vice President, and Treasurer, and served as Vice President and Assistant Treasurer at Time Warner Inc. His earlier career included finance positions at Insight Communications Company, Inc. and Joseph E. Seagram & Sons, Inc. During his tenure at OUTFRONT Media, the company secured $400 million in convertible preferred stock from Providence Equity and Ares Management to strengthen its balance sheet.
Jodi Senese, Executive Vice President, Chief Marketing Officer
Jodi Senese has been OUTFRONT Media's Executive Vice President, Chief Marketing Officer since April 2013, overseeing all aspects of marketing, including research, advertising, creative services, and new business strategies. She previously served as Executive Vice President, Marketing at OUTFRONT Media from 2001 to 2013. Her extensive experience in the out-of-home advertising industry includes roles as Executive Vice President, Marketing at TDI Worldwide Inc. (acquired by OUTFRONT Media's predecessor) from 1990 to 2001, and Vice President, Marketing at Gannett Outdoor (also acquired by OUTFRONT Media's predecessor) from 1988 to 1990. Senese began her career in sales at New York Subways Advertising Company (later acquired by OUTFRONT Media's predecessor) in 1981.
Andrew R. Sriubas, Chief Commercial Officer
Andrew R. Sriubas serves as OUTFRONT Media's Chief Commercial Officer. He joined the company in 2014 as Executive Vice President of Strategy & Development and was later promoted to his current role, where he is responsible for partnerships, product, digital operations, technology platform, client experience, and corporate & business development. Before OUTFRONT, Sriubas was Chief of Strategy and Corporate Development for Sonifi Solutions. He has over two decades of experience in investment banking, having held Managing Director positions at JPMorgan, UBS, and Donaldson, Lufkin & Jenrette, where he provided strategic advice and raised capital for Technology, Media & Telecommunications companies. He also played a key role in developing digital distribution networks for the U.S. movie theatre industry and satellite-deployed entertainment systems for the hospitality industry. He advises several emerging technology companies and serves on the board of Palisades Growth, a venture and growth fund.
Richard H. Sauer, Executive Vice President, General Counsel
Richard H. Sauer serves as Executive Vice President and General Counsel for OUTFRONT Media. In this role, he is responsible for legal affairs, including corporate governance, compliance, litigation, and transactional matters.
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Outfront Media (OUT) faces several key business risks, primarily stemming from the dynamic nature of the advertising industry and its operational dependencies. The most significant risks include: 1.Dependence on Economic Conditions and Advertising Budgets
Outfront Media's financial performance is highly sensitive to the overall health of the economy and the corresponding fluctuations in advertising expenditures. Economic downturns can lead to reduced advertising budgets from clients, directly impacting the company's revenue streams. 2.Reliance on Key Municipal Contracts
A substantial portion of Outfront Media's transit advertising business relies on securing and renewing contracts with municipalities and other governmental entities. These contracts typically have fixed terms and can often be terminated for convenience by the governmental entity, except for certain agreements like those with the MTA. The inability to obtain or renew these critical contracts on favorable terms could result in a significant loss of revenue. 3.Intense Competition and Digital Disruption
The advertising industry is highly competitive, with Outfront Media vying for market share against both direct competitors like Lamar Advertising Company and Clear Channel Outdoor, as well as indirect competitors such as digital advertising platforms (e.g., Google and Meta), television, radio, and print media. To maintain its competitive edge, the company must continuously innovate and adapt to technological advancements and evolving advertiser demands, including the ongoing need for investment in digital infrastructure and data analytics for targeted and timely campaigns.AI Analysis | Feedback
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Outfront Media (symbol: OUT) operates primarily within the out-of-home (OOH) advertising market, with its main products and services encompassing billboard advertising and transit advertising. The addressable markets for these services are predominantly within the United States and Canada.
U.S. Out-of-Home (OOH) Advertising Market
- The U.S. billboard and outdoor advertising market generated revenues of approximately $7.35 billion in 2023.
- In 2024, the U.S. OOH advertising market size was estimated at $9.1 billion to $10.34 billion. Another source reported $9.2 billion in 2024 and $7.87 billion.
- Projections indicate the U.S. billboard and outdoor advertising market is expected to reach approximately $13.35 billion by 2030, and the broader outdoor advertising market is forecasted to reach $16.72 billion by 2030. The U.S. OOH advertising market is also projected to reach $15.64 billion by 2032.
- The digital out-of-home (DOOH) segment within the U.S. OOH market accounted for 34% of total OOH ad spend in 2024. The U.S. digital billboards market was valued at approximately $13.6 billion in 2024 and is predicted to increase to around $30.5 billion by 2034.
Transit Advertising Market
- Globally, the transit advertising market was valued at $5.53 billion in 2023 and $24.5 billion in 2024. It is estimated to reach $35.2 billion by 2035.
- In North America, the transit advertising market was valued at $10 billion in 2024 and is projected to grow to $13 billion by 2035.
- Transit advertising was the highest revenue-generating segment within outdoor advertising in the U.S. in 2024 and is expected to remain the fastest-growing type through the forecast period.
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Outfront Media (OUT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Continued Growth in Transit Advertising: The transit segment, particularly significant operations like the New York MTA, has been a strong performer and is anticipated to continue driving revenue. Outfront Media reported a 24% growth in transit revenue in Q3 2025 and anticipates mid-teens growth in transit revenue for Q4. This growth is attributed to successful campaigns with major brands across various sectors, including technology, finance, consumer packaged goods (CPG), pharma, and health, supported by a dedicated transit growth team and focused product marketing.
- Expansion and Monetization of Digital Out-of-Home (DOOH) Assets: Digital transformation remains a central strategy for Outfront Media. The company has seen significant increases in digital revenues across both billboard and transit segments. Digital transit revenues, for example, surged over 50% in Q3 2025. The growth in programmatic and digital direct automated sales, which represented nearly 17% of total digital revenues in Q4 2024 and nearly 20% in Q3 2025, further underscores this driver.
- Strategic Partnerships and Technological Innovation: Outfront Media's strategic partnership with AWS is aimed at enhancing media planning, buying, and measurement capabilities. This initiative is expected to create new sales opportunities by allowing agencies and brands to access, interact, transact, and measure their media in more efficient ways.
- Optimized Billboard Portfolio and Improved Yields: While Outfront Media has strategically exited some marginally profitable billboard contracts, leading to temporary declines in reported billboard revenues, this move is intended to improve billboard adjusted OIBDA margins. The company expects billboard revenues to show low single-digit growth when excluding the impact of these exited contracts, indicating a focus on a higher-yielding, more efficient billboard portfolio. Billboard yield growth has also been driven by digital conversions and higher automated transaction revenue.
- Targeting New Advertising Demand and High-Spending Categories: Outfront Media is focused on optimizing its sales strategies to drive new demand, particularly from non-out-of-home advertisers in high-spending industry categories. The company has noted that local sales have been a primary driver of growth in its U.S. media business. Additionally, Outfront Media expresses optimism about advertising opportunities related to major events such as the entertainment sector in 2026 and the upcoming World Cup.
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Capital Allocation Decisions of Outfront Media (OUT) (Last 3-5 Years)
Share Issuance
- As of September 30, 2025, June 30, 2025, and March 31, 2025, Outfront Media had an at-the-market (ATM) equity offering program with $232.5 million remaining available. No shares were sold under this program during the first three quarters of 2025.
- Approximately 7.8 million shares of common stock could be required to be issued upon conversion of the outstanding Series A Convertible Perpetual Preferred Stock as of September 30, 2025, June 30, 2025, and March 31, 2025.
- A reverse stock split of the company's common stock was effected on January 17, 2025, impacting the diluted weighted average shares outstanding, which were 176.3 million for Q3 2025, 168.0 million for Q2 2025, and 166.4 million for Q1 2025.
Inbound Investments
- On April 16, 2020, Providence Equity Partners agreed to invest in Outfront Media.
- Outfront Media received $400 million in a Post IPO funding round on April 16, 2020.
Outbound Investments
- Outfront Media acquired 21 large format wall displays (18 static and 3 digital) in Detroit, Michigan, from Total Outdoor on December 22, 2021.
- The company completed the sale of all its equity interests in its Canadian outdoor advertising business on June 7, 2024, with the deal closing in 2024 for $410 million.
Capital Expenditures
- For the nine months ended September 30, 2025, capital expenditures totaled $64.0 million, marking a 6.8% increase compared to the same period in the prior year.
- Expected capital expenditures for the full year 2025 are approximately $85.0 million, with a primary focus on new and replacement digital displays, renovation of office facilities, and software. Approximately $35.0 million is allocated for maintenance.
- Capital expenditures in 2024 decreased by $8.7 million (10%) compared to 2023, mainly due to reduced spending on office facilities, software, and technology, partially offset by increased investment in digital displays and billboard upgrades.
Latest Trefis Analyses
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 19.71 |
| Mkt Cap | 2.8 |
| Rev LTM | 1,690 |
| Op Inc LTM | 295 |
| FCF LTM | 102 |
| FCF 3Y Avg | 80 |
| CFO LTM | 201 |
| CFO 3Y Avg | 170 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 2.8% |
| Rev Chg Q | 3.8% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Mgn LTM | 17.6% |
| Op Mgn 3Y Avg | 17.8% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 18.1% |
| CFO/Rev 3Y Avg | 16.1% |
| FCF/Rev LTM | 5.0% |
| FCF/Rev 3Y Avg | 2.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.8 |
| P/S | 3.0 |
| P/EBIT | 16.4 |
| P/E | -75.2 |
| P/CFO | 14.9 |
| Total Yield | 1.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 0.7% |
| D/E | 0.6 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 4.3% |
| 3M Rtn | 11.2% |
| 6M Rtn | 41.9% |
| 12M Rtn | 31.6% |
| 3Y Rtn | 28.2% |
| 1M Excs Rtn | 4.1% |
| 3M Excs Rtn | 15.0% |
| 6M Excs Rtn | 23.6% |
| 12M Excs Rtn | 16.9% |
| 3Y Excs Rtn | -39.4% |
Price Behavior
Price Behavior
| Market Price | $26.89 | |
| Market Cap ($ Bil) | 4.5 | |
| First Trading Date | 03/28/2014 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $24.24 | $18.98 |
| DMA Trend | up | up |
| Distance from DMA | 10.9% | 41.7% |
| 3M | 1YR | |
| Volatility | 26.6% | 38.6% |
| Downside Capture | -70.13 | 96.83 |
| Upside Capture | 100.62 | 125.79 |
| Correlation (SPY) | 10.9% | 61.7% |
OUT Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.11 | 0.49 | 0.50 | 0.62 | 1.25 | 1.40 |
| Up Beta | 3.17 | 2.11 | -0.44 | 0.45 | 1.35 | 1.42 |
| Down Beta | 1.45 | 1.06 | 0.77 | 0.62 | 1.23 | 1.29 |
| Up Capture | 34% | 5% | 175% | 111% | 146% | 282% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 8 | 19 | 31 | 64 | 124 | 375 |
| Down Capture | 24% | -50% | -35% | 18% | 104% | 109% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 12 | 22 | 30 | 60 | 126 | 371 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OUT | |
|---|---|---|---|---|
| OUT | 51.6% | 38.5% | 1.15 | - |
| Sector ETF (XLRE) | 2.3% | 16.4% | -0.04 | 59.5% |
| Equity (SPY) | 15.4% | 19.4% | 0.61 | 61.5% |
| Gold (GLD) | 73.9% | 24.8% | 2.19 | 1.2% |
| Commodities (DBC) | 8.9% | 16.6% | 0.34 | 19.5% |
| Real Estate (VNQ) | 4.6% | 16.5% | 0.10 | 64.0% |
| Bitcoin (BTCUSD) | -33.5% | 42.9% | -0.83 | 18.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OUT | |
|---|---|---|---|---|
| OUT | 14.5% | 39.9% | 0.45 | - |
| Sector ETF (XLRE) | 5.5% | 19.0% | 0.20 | 56.4% |
| Equity (SPY) | 14.4% | 17.0% | 0.68 | 57.9% |
| Gold (GLD) | 21.4% | 16.9% | 1.03 | 10.2% |
| Commodities (DBC) | 11.5% | 18.9% | 0.49 | 17.6% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 61.4% |
| Bitcoin (BTCUSD) | 13.9% | 57.8% | 0.46 | 22.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OUT | |
|---|---|---|---|---|
| OUT | 8.1% | 45.0% | 0.34 | - |
| Sector ETF (XLRE) | 7.2% | 20.5% | 0.31 | 61.1% |
| Equity (SPY) | 15.4% | 17.9% | 0.74 | 60.1% |
| Gold (GLD) | 15.7% | 15.5% | 0.84 | 6.1% |
| Commodities (DBC) | 8.0% | 17.6% | 0.37 | 25.1% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.25 | 66.0% |
| Bitcoin (BTCUSD) | 67.1% | 66.6% | 1.07 | 17.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | 14.4% | 23.2% | 34.8% |
| 8/5/2025 | -3.4% | -4.9% | 1.8% |
| 5/8/2025 | -2.5% | 6.4% | 8.9% |
| 2/25/2025 | 0.6% | -2.8% | -8.1% |
| 11/12/2024 | 1.6% | 5.7% | 8.3% |
| 8/6/2024 | 6.3% | 10.7% | 19.4% |
| 5/2/2024 | -5.9% | -5.4% | -10.7% |
| 2/21/2024 | 18.5% | 15.2% | 34.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 14 |
| # Negative | 9 | 8 | 8 |
| Median Positive | 6.3% | 6.0% | 16.5% |
| Median Negative | -3.9% | -6.8% | -9.4% |
| Max Positive | 18.5% | 23.2% | 39.4% |
| Max Negative | -16.3% | -18.1% | -54.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mathes, Peter | Direct | Sell | 11252025 | 22.88 | 20,000 | 457,600 | 1,175,986 | Form | |
| 2 | Diaz, Manuel A | Direct | Sell | 11212025 | 22.18 | 11,270 | 249,969 | 1,303,873 | Form | |
| 3 | Pep, Viii Gp Llc | See Notes | Sell | 9052025 | 18.06 | 8,400,000 | 151,704,000 | 160,983,463 | Form | |
| 4 | Pep, Viii Gp Llc | See Notes | Sell | 9052025 | 18.06 | 8,400,000 | 151,704,000 | 160,983,463 | Form | |
| 5 | Bonanni, Mark Emilio | EVP, CRO, Commercial | Direct | Sell | 8262025 | 19.38 | 4,126 | 79,962 | 80,815 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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