Stagwell (STGW)
Market Price (9/25/2026): $8.38 | Market Cap: $2.1 BilSector: Communication Services | Industry: Advertising
Stagwell (STGW)
Market Price (9/25/2026): $8.38Market Cap: $2.1 BilSector: Communication ServicesIndustry: Advertising
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 7.4% Megatrend and thematic driversMegatrends include Social Media & Creator Economy, and Digital Advertising. Themes include Creator Economy Monetization, and Ad-Tech Platforms. | Weak multi-year price returns2Y Excs Rtn is -21% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 78% Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 126x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2% Key risksSTGW key risks include [1] significant client concentration coupled with a lack of long-term contracts and [2] a high level of indebtedness that restricts financial flexibility. |
| Attractive yieldFCF Yield is 7.4% |
| Megatrend and thematic driversMegatrends include Social Media & Creator Economy, and Digital Advertising. Themes include Creator Economy Monetization, and Ad-Tech Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -21% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 78% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 126x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2% |
| Key risksSTGW key risks include [1] significant client concentration coupled with a lack of long-term contracts and [2] a high level of indebtedness that restricts financial flexibility. |
Qualitative Assessment
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Stagwell (STGW) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Stagwell reported robust financial performance in its fiscal Q2 2026, significantly beating analyst expectations. The company announced adjusted earnings per share (EPS) of $0.25, surpassing the Zacks Consensus Estimate of $0.17 per share by 47.06% and the broader consensus estimate of $0.19 by approximately 29%. Additionally, revenue reached $786.3 million, exceeding analyst forecasts of $754.56 million by about 4-5%. This quarter was highlighted as Stagwell's largest ever.
2. The company demonstrated strong organic growth, particularly in its Digital Transformation segment, and secured record new business wins. Stagwell achieved 10% organic net revenue growth in fiscal Q2 2026. Its Digital Transformation segment was a standout performer, posting 18% organic net revenue growth and a two-year organic growth stack of 29%, along with a 30% adjusted EBITDA margin. Furthermore, the company recorded a record $171 million in net new business during the quarter.
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Stagwell (STGW) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Stagwell reported robust financial performance in its fiscal Q2 2026, significantly beating analyst expectations. The company announced adjusted earnings per share (EPS) of $0.25, surpassing the Zacks Consensus Estimate of $0.17 per share by 47.06% and the broader consensus estimate of $0.19 by approximately 29%. Additionally, revenue reached $786.3 million, exceeding analyst forecasts of $754.56 million by about 4-5%. This quarter was highlighted as Stagwell's largest ever.
2. The company demonstrated strong organic growth, particularly in its Digital Transformation segment, and secured record new business wins. Stagwell achieved 10% organic net revenue growth in fiscal Q2 2026. Its Digital Transformation segment was a standout performer, posting 18% organic net revenue growth and a two-year organic growth stack of 29%, along with a 30% adjusted EBITDA margin. Furthermore, the company recorded a record $171 million in net new business during the quarter.
3. Management raised full-year adjusted EPS guidance, signaling confidence in sustained performance and reinforcing its AI-driven market positioning. Following the strong fiscal Q2 2026 results, Stagwell's management raised its full-year 2026 adjusted EPS guidance to a range of $1.03 to $1.17. Executives attributed the strong performance to demand for its AI-enabled software and services, reinforcing Stagwell's strategic positioning as a technology-driven marketing player benefiting from the industry's adoption of AI-based solutions. This aligns with broader marketing trends for 2026, where AI is a significant force reshaping the industry.
4. Positive analyst sentiment and increased price targets contributed to investor optimism. Post-earnings, B. Riley Financial increased its price target for Stagwell from $8.00 to $10.00. The stock currently holds a "Moderate Buy" consensus rating from analysts, with an average 12-month price target of $9.60, representing a forecasted upside of 18.23% from a recent trading price. Some estimates place the average price target at $9.86, suggesting a 20.76% upside.
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Stock Movement Drivers
Fundamental Drivers
The 18.5% change in STGW stock from 5/31/2026 to 9/24/2026 was primarily driven by a 36.7% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.01 | 8.31 | 18.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,961 | 3,041 | 2.7% |
| Net Income Margin (%) | 0.6% | 0.5% | -17.2% |
| P/E Multiple | 92.3 | 126.2 | 36.7% |
| Shares Outstanding (Mil) | 251 | 246 | 2.0% |
| Cumulative Contribution | 18.5% |
Market Drivers
5/31/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| STGW | 18.5% | |
| Market (SPY) | 1.7% | 24.4% |
| Sector (XLC) | -1.2% | 35.1% |
Fundamental Drivers
The 72.4% change in STGW stock from 2/28/2026 to 9/24/2026 was primarily driven by a 101.3% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.82 | 8.31 | 72.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,890 | 3,041 | 5.2% |
| Net Income Margin (%) | 0.7% | 0.5% | -21.8% |
| P/E Multiple | 62.7 | 126.2 | 101.3% |
| Shares Outstanding (Mil) | 256 | 246 | 4.1% |
| Cumulative Contribution | 72.4% |
Market Drivers
2/28/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| STGW | 72.4% | |
| Market (SPY) | 12.4% | 17.8% |
| Sector (XLC) | -2.9% | 24.4% |
Fundamental Drivers
The 47.3% change in STGW stock from 8/31/2025 to 9/24/2026 was primarily driven by a 30.6% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.64 | 8.31 | 47.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,859 | 3,041 | 6.4% |
| P/S Multiple | 0.5 | 0.7 | 30.6% |
| Shares Outstanding (Mil) | 261 | 246 | 6.0% |
| Cumulative Contribution | 47.3% |
Market Drivers
8/31/2025 to 9/24/2026| Return | Correlation | |
|---|---|---|
| STGW | 47.3% | |
| Market (SPY) | 20.3% | 19.9% |
| Sector (XLC) | 3.6% | 21.9% |
Fundamental Drivers
The 52.5% change in STGW stock from 8/31/2023 to 9/24/2026 was primarily driven by a 180.7% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.45 | 8.31 | 52.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,627 | 3,041 | 15.8% |
| P/S Multiple | 0.2 | 0.7 | 180.7% |
| Shares Outstanding (Mil) | 115 | 246 | -53.1% |
| Cumulative Contribution | 52.5% |
Market Drivers
8/31/2023 to 9/24/2026| Return | Correlation | |
|---|---|---|
| STGW | 52.5% | |
| Market (SPY) | 76.8% | 33.1% |
| Sector (XLC) | 74.1% | 29.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STGW Return | 245% | -28% | 7% | -1% | -26% | 73% | 238% |
| Peers Return | 31% | -18% | 26% | 3% | -5% | -20% | 5% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| STGW Win Rate | 75% | 50% | 42% | 33% | 33% | 67% | |
| Peers Win Rate | 58% | 44% | 61% | 58% | 47% | 41% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| STGW Max Drawdown | -29% | -44% | -56% | -26% | -38% | -37% | |
| Peers Max Drawdown | -16% | -37% | -20% | -21% | -29% | -43% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: OMC, ACN, CTSH.
[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 9/24/2026 (YTD)
How Low Can It Go
| Event | STGW | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.0% | -18.8% |
| % Gain to Breakeven | 49.3% | 23.1% |
| Time to Breakeven | 227 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -13.9% | -7.8% |
| % Gain to Breakeven | 16.1% | 8.5% |
| Time to Breakeven | 18 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.9% | -9.5% |
| % Gain to Breakeven | 58.5% | 10.5% |
| Time to Breakeven | 70 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.5% | -6.7% |
| % Gain to Breakeven | 25.9% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.5% | -24.5% |
| % Gain to Breakeven | 71.0% | 32.4% |
| Time to Breakeven | 235 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.8% | -33.7% |
| % Gain to Breakeven | 131.4% | 50.9% |
| Time to Breakeven | 241 days | 140 days |
In The Past
Stagwell's stock fell -33.0% during the 2025 US Tariff Shock. Such a loss loss requires a 49.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | STGW | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.0% | -18.8% |
| % Gain to Breakeven | 49.3% | 23.1% |
| Time to Breakeven | 227 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.9% | -9.5% |
| % Gain to Breakeven | 58.5% | 10.5% |
| Time to Breakeven | 70 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.5% | -6.7% |
| % Gain to Breakeven | 25.9% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.5% | -24.5% |
| % Gain to Breakeven | 71.0% | 32.4% |
| Time to Breakeven | 235 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.8% | -33.7% |
| % Gain to Breakeven | 131.4% | 50.9% |
| Time to Breakeven | 241 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -41.2% | -19.2% |
| % Gain to Breakeven | 70.0% | 23.8% |
| Time to Breakeven | 843 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -71.0% | -3.7% |
| % Gain to Breakeven | 245.1% | 3.9% |
| Time to Breakeven | 275 days | 6 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -23.4% | -6.8% |
| % Gain to Breakeven | 30.5% | 7.3% |
| Time to Breakeven | 75 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -32.7% | -17.9% |
| % Gain to Breakeven | 48.5% | 21.8% |
| Time to Breakeven | 622 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.1% | -15.4% |
| % Gain to Breakeven | 25.1% | 18.2% |
| Time to Breakeven | 57 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -76.0% | -53.4% |
| % Gain to Breakeven | 317.2% | 114.4% |
| Time to Breakeven | 466 days | 1085 days |
In The Past
Stagwell's stock fell -33.0% during the 2025 US Tariff Shock. Such a loss loss requires a 49.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Stagwell (STGW)
Stagwell Inc. (STGW) is a comprehensive marketing and digital services company that helps businesses navigate the modern commercial landscape. The company specializes in digital transformation, leveraging performance media and data, providing consumer insights, and delivering creative communication solutions. Stagwell organizes its operations across three main segments: an Integrated Agencies Network, a Media Network, and a Communications Network, offering a holistic suite of services to its clients.
The company's core services include designing and building sophisticated digital platforms, such as websites, mobile applications, and back-end systems, alongside developing and implementing technology and data strategies. Stagwell also creates proprietary software, including cookie-less data platforms for audience targeting, e-commerce tools, and consumer engagement applications. Furthermore, it offers robust media buying and planning services, coupled with strategic insights and guidance that help businesses shape their content, product, communication, and media strategies.
Stagwell also provides extensive creative and communications services, encompassing strategy development, advertising creation, live event production, and cross-platform engagement, including social media content. Its communication offerings extend to public relations, public affairs, leadership positioning, and executive visibility. The company serves a diverse clientele, including in-house marketers, by delivering tech-driven solutions like influencer marketing, brand insights, and augmented reality services, helping them enhance their brand presence and market reach.
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Stagwell is like a modern WPP or Omnicom.
It's similar to Publicis Groupe or IPG, but with a stronger focus on digital transformation and data-driven marketing.
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- Digital Transformation & Platform Development: Designing and building digital platforms and experiences, including websites, mobile applications, and content management systems.
- Technology & Data Strategy: Developing and implementing technology and data strategies, alongside specialized software products like cookie-less data platforms.
- Media Buying & Planning: Providing comprehensive services for the strategic planning and purchasing of media placements.
- Consumer Insights & Strategy: Offering strategic insights and guidance for business content, product, communications, and media strategies.
- Creative & Communications Services: Developing advertising, creating engaging content for various platforms including social media, and managing live events.
- Public Relations & Strategic Communications: Delivering services for public relations, executive positioning, strategic communication, and public affairs.
- Specialized Marketing Solutions: Offering advanced services such as influencer marketing, brand insights, communications technology, and augmented reality.
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Stagwell (STGW) primarily sells its services to other companies (B2B model).
Due to the nature of its business as a marketing, advertising, and digital transformation agency, Stagwell serves a diverse client base across numerous industries. The company's public filings indicate that no single client accounted for more than 5% of its net revenue during the years ended December 31, 2023, 2022, and 2021. Therefore, Stagwell does not have publicly identified "major customers" in the sense of specific companies that contribute a disproportionately large share of its revenue, nor does it publicly disclose the names of individual client companies.
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Mark Penn
Chairman & CEO
Mark Penn is the Chairman and CEO of Stagwell Inc., a company he formed by spearheading the combination of digital services leader The Stagwell Group, which he founded in 2015, and global creative network MDC Partners in 2021. The Stagwell Group was launched with a $250 million investment from former Microsoft CEO Steve Ballmer and later secured a $260 million investment from AlpInvest Partners. Prior to founding Stagwell, Penn co-founded and served as CEO of Penn Schoen Berland, a market research firm he built and later sold to WPP. He also served as CEO of Burson-Marsteller, one of the world's largest public relations companies, and as Executive Vice President and Chief Strategy Officer at Microsoft. Penn has a distinguished career spanning over 40 years in market research, advertising, public relations, polling, and consulting, advising top world leaders including President Bill Clinton, for whom he served as White House Pollster and chief strategist for his 1996 re-election campaign.
Ryan Greene
Chief Financial Officer
Ryan Greene was appointed Chief Financial Officer of Stagwell Inc. on July 2, 2025. Before this role, he served as the company's Chief Operating Officer since August 2021 and was the CFO of The Stagwell Group/Stagwell Media since 2015. Greene brings over 20 years of experience in finance and operations, having held roles across Omnicom agencies, MorganFranklin Consulting, Ernst & Young, B|Com3 (acquired by Publicis Groupe), and Arthur Andersen. He previously served as a Financial Management Consultant at MorganFranklin Consulting, providing strategic business and financial operations advice. His prior roles also include Chief Financial Officer of CLS Strategies and Vice President of Finance with C2 Creative, both firms owned by the Omnicom Group. As COO, Greene spearheaded $65 million in cost synergies for Stagwell and is now tasked with leading efforts to achieve $80-100 million in AI-led efficiencies.
Jay Leveton
President
Jay Leveton serves as the President of Stagwell Inc.
Frank Lanuto
EVP, Finance
Frank Lanuto transitioned to the role of Executive Vice President, Finance for Stagwell Inc. on July 2, 2025, after serving as Chief Financial Officer. He joined Stagwell Global in 2019, bringing extensive public company accounting and finance expertise from his prior work with Interpublic, Publicis, and Omnicom. His previous experience includes serving as Vice President, Corporate Controller at Movado Group, Inc., Chief Financial Officer at Randstad USA, Executive Vice President and Chief Financial Officer at Initiative Media Worldwide (a division of Interpublic Group), Chief Financial Officer at Publicis Healthcare Communications, and Chief Operating Officer and Chief Financial Officer of Rapp Collins Worldwide (part of the Omnicom Group).
Jason Reid
Chief Strategy Officer
Jason Reid was promoted to Chief Strategy Officer for Stagwell Inc. from his previous role as Chief Investment Officer. He has been instrumental in the company's merger and acquisition activities, having spearheaded the M&A area for The Stagwell Group and successfully completed over 50 deals in the past decade. In his current role, he is focused on defining the strategic direction of the company and evaluating new growth strategies and frontiers.
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Key Risks to Stagwell (STGW)
Rapid Technological Change and Evolving Digital Landscape: Stagwell's core business relies heavily on digital transformation, performance media, data, and technology-driven communication services. The rapid pace of technological innovation, changes in digital platforms, the development of new advertising technologies (such as AI in ad tech), and evolving consumer digital behaviors present a continuous challenge. Failure to anticipate, adapt to, and integrate these changes, or to effectively navigate shifts like the deprecation of third-party cookies, could lead to the obsolescence of their offerings, a loss of competitive advantage, and difficulty in attracting and retaining clients.
Data Privacy Regulations and Consumer Sentiment: Given Stagwell's significant involvement in performance media, data solutions, and consumer insights, the ever-evolving global landscape of data privacy regulations (e.g., GDPR, CCPA, and similar legislation) poses a substantial operational and compliance risk. Increasing consumer awareness and concerns regarding data usage further complicate the environment. Non-compliance with these regulations or any perceived mishandling of consumer data could result in significant fines, reputational damage, loss of client trust, and limitations on their ability to deliver effective data-driven campaigns.
Economic Sensitivity and Fluctuations in Client Spending: The advertising, marketing, public relations, and digital transformation services provided by Stagwell are often considered discretionary expenses by clients. During periods of economic downturn, recession, or general market uncertainty, businesses typically reduce or postpone their marketing and advertising budgets. Such reductions in client spending could directly and negatively impact Stagwell's revenue, profitability, and overall financial performance.
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The rapid advancements in generative artificial intelligence (AI) and automation tools pose a clear emerging threat to Stagwell's core business model. These technologies can automate and perform tasks traditionally provided by human teams within Stagwell's Creativity and Communications Network (e.g., content creation, ad copy, visual assets), Media Network (e.g., media planning and buying optimization), and aspects of its Digital Transformation services. This could lead to margin compression, reduced demand for human-led services, or direct disintermediation as clients increasingly leverage AI tools themselves or through specialized AI-first providers.
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Addressable Markets for Stagwell Inc.'s Main Products and Services
- Digital Transformation Services:
- Globally, the digital transformation market size was estimated at USD 1,070.43 billion in 2024 and is projected to reach USD 4,617.78 billion by 2030.
- In the U.S., the digital transformation market was valued at USD 0.66 trillion (USD 660 billion) in 2025 and is estimated to reach USD 1.96 trillion by 2031.
- Media Buying and Planning Services:
- The global media planning and buying market size was valued at USD 497.19 billion in 2025 and is projected to reach USD 735.96 billion by 2035.
- The global media buying agencies and representative firms market reached approximately USD 75,498.2 million in 2022 and is expected to reach USD 118,687.2 million by 2032.
- The Media Buying Agencies market in the Americas was USD 16.7 billion in 2025.
- Advertising and Creative Services:
- The global advertising service market is projected to grow from USD 907.04 billion in 2025 to USD 3865.5 billion by 2035.
- The North America advertising service market was valued at USD 407.2 billion in 2025.
- The global creative services market size is estimated at USD 3.61 billion in 2026 and is set to expand to USD 6.47 billion by 2035.
- Public Relations and Public Affairs Services:
- The global public relations services market size was valued at USD 102.38 billion in 2025 and is projected to grow to USD 165.11 billion by 2034.
- The Public Relations Firms market in the U.S. is projected to be USD 25.5 billion in 2026.
- Influencer Marketing:
- The global influencer marketing platform market was valued at USD 23.59 billion in 2025 and is projected to reach USD 89.90 billion by 2034.
- The U.S. influencer marketing platform market size reached USD 4.69 billion in 2024 and is expected to reach USD 21.78 billion in 2032.
- Marketing Technology (MarTech):
- The global marketing technology market size was estimated at USD 551.96 billion in 2025 and is projected to reach USD 2,380.49 billion by 2033.
- North America held over 33% of the global marketing technology market revenue share in 2025.
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Stagwell Inc. (STGW) is expected to drive future revenue growth over the next 2-3 years through several key areas:
- Digital Transformation: Stagwell is experiencing accelerated growth in its digital transformation services, which include designing and building digital platforms, implementing technology and data strategies, and developing software and related technology products. This segment has shown consistent strong performance and is a significant growth driver, particularly with the influx of AI projects.
- Stagwell Marketing Cloud and AI-based Solutions: The company's Marketing Cloud, offering a suite of SaaS marketing tools and subscription-based products, is gaining traction and contributing to revenue growth. Furthermore, Stagwell's focus on AI application development and the launch of new AI-based products, such as the agentic targeting system and marketing operations operating system, are anticipated to drive significant new revenue.
- Advocacy and Political "Super Cycle": Stagwell anticipates a significant tailwind from increased spending in its advocacy business, driven by a "three-year political super cycle" that includes mid-term elections and the lead-up to the 2028 presidential election. This cyclical increase in political advertising is expected to boost revenue in the coming years.
- New Business Wins and Client Expansion: The company consistently reports strong net new business wins and increased engagement with existing key clients. This continued ability to attract new customers and expand relationships with its top clients, which now represent a significant portion of its revenue, is a crucial driver of organic growth.
- International Growth and Strategic Acquisitions: Stagwell is expanding its global footprint, with notable growth in international net revenue, particularly in regions like EMEA. Strategic acquisitions have also played a role in expanding the company's presence in new markets such as APAC and MENA, along with enhancing its service capabilities in areas like experiential marketing, influencer marketing, and analytics.
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Share Repurchases
- Stagwell authorized a $125 million stock repurchase program on March 23, 2022, which expired on March 23, 2025.
- On March 10, 2026, the company announced a $350 million increase to its stock repurchase program, bringing the total authorization to $725 million, with approximately $400 million available. This program is set to expire on March 4, 2029.
- Over the last four years, Stagwell repurchased 55 million shares for a total of $323 million, with approximately 23 million shares repurchased during 2025.
Share Issuance
- In April 2025, approximately 152 million Class C shares were exchanged into Class A shares to simplify the capital structure.
- On December 20, 2024, Stagwell issued 3,390,788 shares of Class A common stock as part of an acquisition of a global media monitoring and analytics firm.
Outbound Investments
- Stagwell acquired Brand New Galaxy (BNG) on April 21, 2022, and PEP Group on July 13, 2022, expanding its commerce solutions and content production capabilities.
- The company completed a total of 11 acquisitions throughout 2024 and announced its intent to acquire ADK GLOBAL in January 2025, followed by the acquisition of Gold Rabbit Sports in February 2025.
- In 2025, Stagwell slowed down planned acquisitions to prioritize capital deployment towards AI application development.
Capital Expenditures
- Capital expenditures in 2025 were primarily focused on systems, platforms, and products to enhance efficiency, scalability, and future growth, including initiatives like "the machine," the Palantir partnership, and the Marketing Cloud offering.
- Stagwell anticipates capital expenditures in 2026 to be consistent with 2025 levels, continuing investments in products, systems, and platforms.
- The company expects capital expenditures to decline starting in 2027 as the focus shifts from investment to adoption and commercialization.
Peer Outperformance in Advertising
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -8.3% | 24.2% | 34.4% | ECHO 248% · TMUS 34% · SHEN -59% |
| Publishing | 5 | 11.2% | 27.5% | 18.2% | NYT 29% · NWSA 22% · SCHL 18% |
| Integrated Telecommunication Services | 23 | -5.9% | 6.7% | -23.4% | IQST 1508% · TIGO 283% · GSAT 227% |
| Movies & Entertainment | 25 | 5.5% | 62.2% | -37.3% | IMAX 209% · MSGS 119% · BATRA 117% |
| Alternative Carriers | 4 | 21.4% | 20.6% | -46.9% | IRDM 22% · UNIT -43% · LUMN -51% |
| Advertising ← | 20 | -18.7% | -5.8% | -65.4% | APP 293% · EVC 40% · OMC 20% |
| Broadcasting | 15 | -14.9% | -19.2% | -67.4% | FOXA 73% · WBD 22% · NXST 21% |
| Interactive Media & Services | 33 | -34.6% | -25.0% | -69.8% | GOOGL 143% · META 122% · SPOT 122% |
| Interactive Home Entertainment | 8 | -50.0% | -52.6% | -86.8% | TTWO 38% · RBLX -41% · PINS -65% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Stagwell Stock (+18%): Strong 2026 Guidance & Buyback Boosts Confidence | 03/11/2026 | |
| Stagwell Stock (+8.5%): OPPO Win Signals APAC Traction | 01/16/2026 | |
| Stagwell Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 65.94 |
| Mkt Cap | 23.8 |
| Rev LTM | 22,007 |
| Op Inc LTM | 2,350 |
| FCF LTM | 2,494 |
| FCF 3Y Avg | 1,999 |
| CFO LTM | 2,750 |
| CFO 3Y Avg | 2,225 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.6% |
| Rev Chg 3Y Avg | 4.9% |
| Rev Chg Q | 8.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 9.0% |
| Op Inc Chg 3Y Avg | -0.7% |
| Op Mgn LTM | 10.5% |
| Op Mgn 3Y Avg | 13.4% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 12.5% |
| CFO/Rev 3Y Avg | 11.5% |
| FCF/Rev LTM | 11.3% |
| FCF/Rev 3Y Avg | 10.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Marketing Services | 1,135 | 1,078 | 1,013 | ||
| Media & Commerce | 691 | 695 | 662 | ||
| Communications | 593 | 703 | 503 | ||
| Digital Transformation | 393 | 336 | 324 | ||
| The Marketing Cloud | 107 | 32 | 26 | ||
| Other business components and intercompany elimination | -9 | -3 | -1 | ||
| All Other | 20 | 26 | |||
| Brand Performance Network | 757 | 425 | |||
| Communications Network | 436 | 248 | |||
| Corporate, eliminations and other | 0 | ||||
| Integrated Agencies Network | 1,475 | 771 | |||
| Total | 2,909 | 2,841 | 2,527 | 2,688 | 1,469 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Marketing Services | 210 | 175 | 155 | ||
| Communications | 104 | 145 | 86 | ||
| Digital Transformation | 91 | 73 | 80 | ||
| Media & Commerce | 89 | 96 | 94 | ||
| Deferred acquisition consideration | 7 | -23 | -13 | 13 | -19 |
| Impairment and other losses | -0 | -2 | -11 | -122 | -16 |
| The Marketing Cloud | -2 | -12 | -5 | ||
| Other items, net | -45 | -56 | -51 | -19 | -21 |
| Stock-based compensation | -54 | -52 | -57 | -33 | -75 |
| Corporate, eliminations and other | -69 | -60 | -45 | -43 | -21 |
| Depreciation and amortization | -171 | -152 | -143 | -131 | -78 |
| All Other | -1 | -1 | |||
| Brand Performance Network | 116 | 66 | |||
| Communications Network | 87 | 44 | |||
| Integrated Agencies Network | 292 | 165 | |||
| Total | 159 | 133 | 91 | 159 | 45 |
Price Behavior
| Market Price | $8.31 | |
| Market Cap ($ Bil) | 2.0 | |
| First Trading Date | 04/17/1995 | |
| Distance from 52W High | -11.1% | |
| 50 Days | 200 Days | |
| DMA Price | $8.49 | $6.70 |
| DMA Trend | up | up |
| Distance from DMA | -2.1% | 24.0% |
| 3M | 1YR | |
| Volatility | 37.4% | 55.6% |
| Downside Capture | 93.06 | 65.13 |
| Upside Capture | 173.16 | 102.80 |
| Correlation (SPY) | 30.9% | 20.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.78 | 1.08 | 0.67 | 0.56 | 0.83 | 1.16 |
| Up Beta | 2.59 | 1.60 | 0.77 | 0.43 | 0.85 | 1.33 |
| Down Beta | 1.50 | -1.01 | -0.10 | 0.58 | 0.91 | 1.17 |
| Up Capture | 130% | 187% | 148% | 126% | 99% | 105% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 22 | 34 | 69 | 125 | 366 |
| Down Capture | 146% | 92% | 46% | -4% | 70% | 102% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 19 | 28 | 53 | 117 | 361 |
[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 STGW | |
|---|---|---|---|---|
| STGW | 54.4% | 55.5% | 0.98 | - |
| Sector ETF (XLC) | -2.9% | 15.9% | -0.38 | 22.9% |
| Equity (SPY) | 16.7% | 13.0% | 0.92 | 20.1% |
| Gold (GLD) | 13.1% | 29.3% | 0.42 | 0.2% |
| Commodities (DBC) | 45.1% | 20.7% | 1.71 | -6.2% |
| Real Estate (VNQ) | 3.7% | 13.7% | 0.01 | 7.0% |
| Bitcoin (BTCUSD) | -24.8% | 44.8% | -0.51 | 11.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STGW | |
|---|---|---|---|---|
| STGW | 0.3% | 54.3% | 0.21 | - |
| Sector ETF (XLC) | 7.4% | 21.1% | 0.26 | 35.1% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 38.4% |
| Gold (GLD) | 19.0% | 18.8% | 0.82 | 2.1% |
| Commodities (DBC) | 10.6% | 19.6% | 0.42 | 5.0% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 31.0% |
| Bitcoin (BTCUSD) | 12.0% | 52.6% | 0.41 | 14.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STGW | |
|---|---|---|---|---|
| STGW | -3.4% | 71.9% | 0.27 | - |
| Sector ETF (XLC) | 9.5% | 22.1% | 0.47 | 29.2% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 31.2% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | -0.4% |
| Commodities (DBC) | 8.5% | 18.1% | 0.39 | 9.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 27.7% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 9.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 5.1% | 9.5% | 9.9% |
| 4/30/2026 | -6.3% | -4.3% | 4.8% |
| 3/10/2026 | 17.6% | 14.1% | 24.6% |
| 11/6/2025 | 16.8% | 7.3% | 16.6% |
| 7/31/2025 | 11.0% | 9.7% | 7.4% |
| 5/8/2025 | -14.0% | -7.9% | -22.7% |
| 2/27/2025 | -5.2% | -7.2% | -9.8% |
| 11/7/2024 | 2.9% | 7.7% | 7.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 14 |
| # Negative | 9 | 10 | 8 |
| Median Positive | 6.0% | 9.8% | 8.6% |
| Median Negative | -5.5% | -8.4% | -10.2% |
| Max Positive | 17.6% | 29.5% | 32.7% |
| Max Negative | -25.0% | -19.9% | -22.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 5.1% | 9.5% | 9.9% |
| 4/30/2026 | -6.3% | -4.3% | 4.8% |
| 3/10/2026 | 17.6% | 14.1% | 24.6% |
| 11/6/2025 | 16.8% | 7.3% | 16.6% |
| 7/31/2025 | 11.0% | 9.7% | 7.4% |
| 5/8/2025 | -14.0% | -7.9% | -22.7% |
| 2/27/2025 | -5.2% | -7.2% | -9.8% |
| 11/7/2024 | 2.9% | 7.7% | 7.0% |
| 8/1/2024 | -5.5% | -9.0% | 4.9% |
| 2/27/2024 | -25.0% | -19.9% | -18.7% |
| 11/2/2023 | 5.6% | 11.9% | 26.5% |
| 8/8/2023 | 1.3% | -11.1% | -11.0% |
| 5/9/2023 | -5.3% | -4.5% | 32.7% |
| 3/2/2023 | 11.6% | 29.5% | 5.3% |
| 11/3/2022 | -5.0% | -6.8% | 1.4% |
| 8/4/2022 | -9.7% | -11.2% | -7.9% |
| 5/6/2022 | 6.0% | 7.4% | 16.4% |
| 3/8/2022 | -0.7% | 3.8% | -2.8% |
| 11/3/2021 | 15.1% | 17.1% | -10.6% |
| 8/4/2021 | 3.1% | 15.3% | 31.7% |
| 5/5/2021 | 8.8% | 10.0% | 6.0% |
| 3/2/2021 | 0.0% | -11.1% | -1.5% |
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 14 |
| # Negative | 9 | 10 | 8 |
| Median Positive | 6.0% | 9.8% | 8.6% |
| Median Negative | -5.5% | -8.4% | -10.2% |
| Max Positive | 17.6% | 29.5% | 32.7% |
| Max Negative | -25.0% | -19.9% | -22.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 03/11/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/06/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 03/11/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/06/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/17/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
Recent Forward Guidance
Updated 7/31/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Net Revenue growth | Reported | 8.0% | 10.0% | 12.0% | 0 | Affirmed | Guidance: 10.0% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 475.00 Mil | 500.00 Mil | 525.00 Mil | 0 | Affirmed | Guidance: 500.00 Mil for 2026 | |
| 2026 Adjusted EPS | Reported | 1.03 | 1.1 | 1.17 | 4.8% | Raised | Guidance: 1.05 for 2026 | |
| 2026 Free Cash Flow Conversion | Reported | 0.5 | 0.55 | 0.6 | 0 | Affirmed | Guidance: 0.55 for 2026 | |
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Net Revenue Growth | Reported | 8.0% | 10.0% | 12.0% | 0.0% | Affirmed | Guidance: 10.0% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 475.00 Mil | 500.00 Mil | 525.00 Mil | 0.0% | Affirmed | Guidance: 500.00 Mil for 2026 | |
| 2026 Adjusted EPS | Reported | 0.98 | 1.05 | 1.12 | 0.0% | Affirmed | Guidance: 1.05 for 2026 | |
| 2026 Free Cash Flow Conversion | Reported | 0.5 | 0.55 | 0.6 | 0.0% | Affirmed | Guidance: 0.55 for 2026 | |
Q4 2025 Earnings Reported 3/10/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Net Revenue Growth | Reported | 8.0% | 10.0% | 12.0% | 2.0% | Higher New | Actual: 8.0% for 2025 | |
| 2026 Adjusted EBITDA | Reported | 475.00 Mil | 500.00 Mil | 525.00 Mil | 14.9% | Higher New | Actual: 435.00 Mil for 2025 | |
| 2026 Adjusted EPS | Reported | 0.98 | 1.05 | 1.12 | 28.8% | Higher New | Actual: 0.81 for 2025 | |
| 2026 Free Cash Flow Conversion | Reported | 0.5 | 0.55 | 0.6 | 10.0% | Higher New | Actual: 0.45 for 2025 | |
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Total Net Revenue Growth | Reported | 8.0% | 0.0% | Affirmed | Guidance: 8.0% for 2025 | |||
| 2025 Adjusted EBITDA | Reported | 410.00 Mil | 435.00 Mil | 460.00 Mil | 0.0% | Affirmed | Guidance: 435.00 Mil for 2025 | |
| 2025 Adjusted EPS | Reported | 0.75 | 0.81 | 0.88 | 0.0% | Affirmed | Guidance: 0.81 for 2025 | |
| 2025 Free Cash Flow Conversion | Reported | 0.45 | 0.0% | Affirmed | Guidance: 0.45 for 2025 | |||
Insider Activity
Updated 8/13/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lanuto, Frank P | See Remarks | Direct | Sell | 8042026 | 8.46 | 62,000 | 524,520 | 4,162,125 | Form |
| 2 | Penn, Mark Jeffery | Chief Executive Officer | Direct | Buy | 5132026 | 5.88 | 20,000 | 117,600 | 135,445,741 | Form |
| 3 | Gross, Bradley J | See Footnotes | Sell | 5052026 | 6.04 | 2,163,790 | 13,073,619 | 53,103 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lanuto, Frank P | See Remarks | Direct | Sell | 8042026 | 8.46 | 62,000 | 524,520 | 4,162,125 | Form |
| 2 | Penn, Mark Jeffery | Chief Executive Officer | Direct | Buy | 5132026 | 5.88 | 20,000 | 117,600 | 135,445,741 | Form |
| 3 | Gross, Bradley J | See Footnotes | Sell | 5052026 | 6.04 | 2,163,790 | 13,073,619 | 53,103 | Form |
Investor Activity (13F)
Updated Sep 25, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
| Active Manager |
|---|
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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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