How has Clear Channel Outdoor Holdings, Inc.'s invested capital changed year-over-year?

Clear Channel Outdoor Holdings, Inc.'s invested capital decreased by 9.5% year-over-year, from $3.46B to $3.13B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Clear Channel Outdoor Holdings, Inc. CCO Invested capital

Discontinued — last reported Q3 '23

Invested capital at other companies

Travel + LeisureTNL

18.8%+0.1pp

BeldenBDC

12.2%+0.5pp

Cabot CorporationCBT

14.7%-6.0pp

UnifirstUNF

6.2%-0.9pp

Envista Holdings CorporationNVST

3.4%+1.8pp

Liberty Broadband CorporationLBRDK

-0.3%-0.1pp

Other financials

Income statement

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Revenue$373.9M+11.9%

Operating income$39.5M-12.2%

Net income-$48.6M-178%

EPS (diluted)-$0.10-177%

Balance sheet

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Cash & equivalents$182.4M-53.9%

Total debt$6.4B-3.2%

Total equity-$3.7B-8.6%

Total assets$3.7B-6.7%

Cash flow

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Operating cash flow$3.2M-78.4%

CapEx$16.0M-37.3%

Free cash flow-$12.8M-20.5%

Valuation

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Market cap$1.22B+120%

Enterprise value$7.48B+9.8%

P/S0.7×+0.4×

Profitability

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Operating margin18.6%0.0pp

Net margin-5.5%-10.6pp

FCF margin1.8%—

Returns & leverage

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Current ratio1.3×-0.2×

Where this comes from

Calculated from Clear Channel Outdoor Holdings, Inc.’s reported figures.

$7.1Btotal debt−$3.7Btotal stockholders equity−$324.7Mcash and equivalents=$3.13B

The official record: Clear Channel Outdoor Holdings, Inc.’s 10-Q, filed November 8, 2023, on SEC EDGAR. View the filing →

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Questions, answered.

What is Clear Channel Outdoor Holdings, Inc.'s invested capital?: Clear Channel Outdoor Holdings, Inc. (CCO) reported invested capital of $3.13B in Q3 2023.
How has Clear Channel Outdoor Holdings, Inc.'s invested capital changed year-over-year?: Clear Channel Outdoor Holdings, Inc.'s invested capital decreased by 9.5% year-over-year, from $3.46B to $3.13B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).