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iHeartMedia, Inc. IHRT Direct operating expenses

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Other financials

Income statement

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Revenue$977.2M+4.7%
Operating income$35.5M+0.4%
Net income-$82.4M+1.3%
EPS (diluted)-$0.52+3.7%

Balance sheet

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Cash & equivalents$174.4M-26.1%
Total debt$5.8B-2.3%
Total assets$4.9B-9.8%

Cash flow

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Operating cash flow-$92.5M-51.8%
CapEx$18.9M-5.3%
Free cash flow-$114.5M-41.9%

Valuation

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Market cap$583.45M+133%
Enterprise value$6.17B+4.2%
P/S0.2×+0.1×

Profitability

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Operating margin-18.5%-18.7pp
Net margin-7.2%-1.7pp
FCF margin-0.6%

Returns & leverage

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Debt / equity2.4×
Current ratio1.4×-0.1×

Where this comes from

Reported directly by iHeartMedia, Inc. in its filing.

Tagged under the XBRL concept ihrt:DirectOperatingCostsNet.

The source filing: iHeartMedia, Inc.’s 10-K, filed March 2, 2026.

Filed
Mar 2, 2026, 4:14 PM EST
Fiscal year
FY2025
Accession
0001628280-26-013221
(In thousands)Segments / Multiplatform GroupSegments / Digital Audio GroupSegments / Audio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Year Ended December 31, 2025
Revenue$2,273,549$1,329,422$272,545$(10,525)$3,864,991
Direct operating expenses(1)914,503655,03529,523(4,328)1,594,733
Selling, general and administrative expenses(2)944,826217,696149,594278,572(6,197)1,584,491
Segment Adjusted EBITDA(3)$414,220$456,691$93,428$(278,572)$685,767
Depreciation and amortization(360,047)
Impairment charges(213,908)
Other operating expense, net(10,634)

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is iHeartMedia, Inc.'s direct operating expenses?
iHeartMedia, Inc. (IHRT) reported direct operating expenses of $398.68M in Q4 2025.
How has iHeartMedia, Inc.'s direct operating expenses changed year-over-year?
iHeartMedia, Inc.'s direct operating expenses increased by 1.8% year-over-year, from $391.49M to $398.68M.
What is the long-term trend for iHeartMedia, Inc.'s direct operating expenses?
Over 2 years (2023 to 2025), iHeartMedia, Inc.'s direct operating expenses has grown at a 3.9% compound annual growth rate (CAGR), from $1.48B to $1.59B.
What does direct operating expenses mean?
This metric represents the core costs directly attributable to the production and delivery of media content and advertising services. It encompasses expenses such as content acquisition, broadcast transmission, and production-related labor necessary to generate revenue across multiplatform and digital segments.

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