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Lamar Advertising LAMR Billboard — Adjusted EBITDA

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Other financials

Income statement

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Revenue$528.0M+4.5%
Gross profit$344.7M+5.9%
Operating income$146.1M-23.6%
Net income$101.3M-27.0%
EPS (diluted)$1.00-25.9%

Balance sheet

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Cash & equivalents$39.3M+8.7%
Total debt$5.0B+8.9%
Total equity$981.7M-4.8%
Total assets$6.9B+5.6%

Cash flow

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Operating cash flow$147.4M+15.4%
CapEx$33.1M+10.9%
Free cash flow$114.3M+16.8%

Valuation

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Market cap$16.23B+26.3%
Enterprise value$21.15B+20.3%
P/E29.5×+0.4×
P/S7.1×+1.3×

Profitability

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Gross margin67.2%+0.3pp
Operating margin31.8%+4.8pp
Net margin24%+4.9pp
FCF margin30.6%-4.0pp

Returns & leverage

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Return on equity54.6%+16.4pp
Debt / equity+0.6×
Current ratio0.6×0.0×

Where this comes from

Reported directly by Lamar Advertising in its filing.

Tagged under the XBRL concept lamr:EarningsBeforeInterestTaxDepreciationAndAmortizationAdjusted.

The source filing: Lamar Advertising’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 10:24 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001090425-26-000017
Line itemThree Months Ended March 31, 20262025
Billboard$227,510$216,931
Other47,57251,892
Total advertising expenses$275,082$268,823
Segmented adjusted EBITDA:
Billboard adjusted EBITDA$241,114$227,966
Other adjusted EBITDA11,8088,641
Corporate expenses (1)(26,594)(26,386)
Adjusted EBITDA$226,328$210,221

ITEM 1. — FINANCIAL STATEMENTS

FAQ

What is Lamar Advertising's billboard — adjusted EBITDA?
Lamar Advertising (LAMR) reported billboard — adjusted EBITDA of $241.11M in Q1 2026.
How has Lamar Advertising's billboard — adjusted EBITDA changed year-over-year?
Lamar Advertising's billboard — adjusted EBITDA increased by 5.8% year-over-year, from $227.97M to $241.11M.
What is the long-term trend for Lamar Advertising's billboard — adjusted EBITDA?
Over 3 years (2022 to 2025), Lamar Advertising's billboard — adjusted EBITDA has grown at a 4.3% compound annual growth rate (CAGR), from $984.71M to $1.12B.
What does billboard — adjusted EBITDA mean?
This metric measures the profitability of the billboard segment by excluding non-cash items like depreciation and amortization, as well as non-recurring or non-operational charges. It provides a standardized view of the segment's operational cash flow generation and core earnings power. This is a key performance indicator used to assess the segment's ability to contribute to the company's overall debt service and capital allocation.

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