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Lamar Advertising Cash Flow Statement

Operating, investing, and financing cash movements

Lamar Advertising generated $883.7M in operating cash flow over the trailing twelve months. After $184.1M in capital expenditures, free cash flow was $699.6M. Free cash flow decreased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$883.7MNet Cash From Investing (TTM)-$389.5MNet Cash From Financing (TTM)-$491.2MCapital Expenditures (TTM)$184.1MDepreciation And Amortization Cf (TTM)$330.5MNet Change In Cash (TTM)$3.2M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$15.5B
P/E Ratio28.13
ROE54.61%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$14.3M$22.1M$64.9M$46.8M$57.2M$58.6M
Capital expenditures$43M$29.9M$38.2M$49.9M$62.9M$33.1M
Proceeds from disposals of property, plant and equipment$464K$117.5M$3.9M$2.3M$3.5M$12.3M
Net cash from investing activities-$56.9M$65.4M-$99.2M-$94.3M-$116.6M-$79.4M
Proceeds from sale of property, plant and equipment$464K$117.5M$3.9M$2.3M$3.5M$12.3M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of debt issuance costs$1.5M$1.5M$1.5M$1.5M$1.7M$1.7M
Change in accounts payable$521K$2.3M——-$790K$4.2M
Change in accrued liabilities$16.9M-$6.9M-$1.1M$3.9M$12.3M-$21.1M
Change in other assets$4.6M$13M——$7.8M$9M
Change in other liabilities—$6.1M$24.1M-$28.4M-$12.1M$7.9M
Change in prepaid expenses$1M$6.3M—-$4.9M$3.3M$1.9M
Change in receivables—-$25.5M$39.5M$0$2.9M-$15.5M
Deferred income taxes-$679K-$8.3M-$51K-$157K—$1.8M
Depreciation and amortization$235.4M$77.8M$78.1M$86.3M$84.1M$81.9M
Net gains (losses) on investments$3M$380K-$174K$0$0$0
Gain (loss) on sale of assets$571K$69.8M$4.2M$2.2M$0$12.6M
Net cash from operating activities$279.3M$127.7M$229.5M$235.7M$271.2M$147.4M
Net income$0$139.2M$155M$144.1M$154.7M$101.8M
Amortization expense related to capitalized debt issuance costs$1.5M$1.5M$1.5M$1.5M$1.7M$1.7M
Gain (Loss) on Disposition of Assets$571K$69.8M$4.2M$2.2M$0$12.6M
Equity in earnings (losses) of equity method investees$3M$380K-$174K$0$0$0
Accounts payable$521K$2.3M——-$790K$4.2M
Operating lease liabilities$30.6M-$31.8M——$32.9M-$36.3M
Increase (Decrease) in Other Operating Assets$4.6M$13M——$7.8M$9M
Increase (Decrease) in Prepaid Expense$1M$6.3M—-$4.9M$3.3M$1.9M
Accounts Receivable, Credit Loss Expense (Reversal)$3.9M$1.2M$2.1M$3.6M$2.6M$2.2M
Provision for credit losses$3.9M$1.2M$2.1M$3.6M$2.6M$2.2M
Stock-based compensation$6.8M$10.6M$7.1M$7.6M$8.7M$11.2M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$0$0$442M——$494K
Repayments of debt$102K$103K$105K$105K$599.7M$133K
Dividends paid$169.3M$159.2M$157.2M$157.4M$182.5M$162.7M
Finance Lease, Principal Payments$333K$333K$333K$332K$333K$333K
Payments of Ordinary Dividends$169.3M$159.2M$157.2M$157.4M$182.5M$162.7M
Proceeds from trade receivable securitization facility, net$200K$0$29.4M$0$145M$67.1M
Proceeds from issuances of debt$0$0———$494K
Repayments Of Accounts Receivable Securitization$0$26.5M$2.9M$70M$75M$75M
Repayments of Senior Debt$87.5M$150M$150M$150M$150M—
Net cash from financing activities-$202.2M-$206.5M-$110.9M-$175M-$111.9M-$93.4M
Payments for finance leases$333K$333K$333K$332K$333K$333K
Proceeds from issuance of common stock$3.8M$4.5M$4.1M$4.3M$4.7M$5.8M
Repurchases of common stock—$26.4M$131.6M——$6.1M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$236.3M$97.9M$191.3M$185.8M$208.3M$114.3M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$299K$7K$271K—$105K-$108K
Net increase (decrease) in cash$20M-$13.3M$19.6M-$33.7M$42.8M-$25.5M
Payments Of Distributions To Affiliates$19K$553K$442K$3M$2.3M$2.6M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$1.4M$7M$7.6M$7.2M$7.2M$2.9M
Interest paid$38.6M$36.9M$39.1M$38.9M$33.4M$33.5M