iHeartMedia, Inc. (IHRTB) intrinsic value & 10-year financials
iHeartMedia, Inc. (IHRTB) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 2.6% a year to $3.9B, with an average return on invested capital of -10.2%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $3.9B
- Revenue growth (10-yr CAGR)
- -2.6%
- ROIC (10-yr avg)
- -10.2%
- Free cash flow (FY2025)
- $10.9M
IHRTB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.9B | -$472.9M | -$3.06 | $10.9M | -0.5% | -0.5% |
| FY2024 | $3.9B | -$1.0B | -$6.68 | -$26.2M | -19.8% | -14.0% |
| FY2023 | $3.7B | -$1.1B | -$7.39 | $110.4M | -21.3% | -12.7% |
| FY2022 | $3.9B | -$264.7M | -$1.79 | $259.1M | 1.5% | 0.8% |
| FY2021 | $3.6B | -$159.2M | -$1.09 | $147.2M | 4.4% | 2.2% |
| FY2020 | $2.9B | -$1.9B | -$13.12 | $130.7M | -59.0% | -19.6% |
| FY2019 | $76.5M | — | — | — | — | — |
| FY2018 | $5.0B | -$201.9M | -$2.36 | $670.3M | 19.6% | -68.4% |
| FY2017 | $4.9B | -$393.9M | -$4.64 | -$795.7M | 20.0% | 5.5% |
| FY2016 | $4.9B | -$296.3M | -$3.50 | -$328.7M | 30.8% | 14.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
iHeartMedia, Inc. is facing top-line stagnation, with revenue contracting over the decade.
iHeartMedia, Inc. has historically struggled to out-earn its cost of capital, averaging just -10.2% ROIC.
iHeartMedia, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, iHeartMedia, Inc. is modeled at -2.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-8.82 per share.