Outfront Media Inc. (OUT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-32.2%

$21.69

vs $32.00 price

Levered DCF

$10.63

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.81

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	27.39×	11.81×	-5.11×	19.74×	111.75×	-47.71×	27.65×	23.53×
P/B	5.69×	3.83×	3.22×	1.99×	2.83×	2.08×	3.49×	2.29×
P/S	2.21×	1.61×	1.23×	1.51×	2.66×	2.28×	2.14×	1.57×
EV / EBITDA	17.72×	11.98×	-65.18×	15.81×	24.7×	28.58×	15.98×	11.49×
Gross margin	32.1%	48.2%	47.1%	48.3%	46.4%	42.5%	46.2%	46.5%
Operating margin	16.8%	23.2%	-13.9%	15.9%	11.5%	5.9%	17.3%	14.6%
Net margin	8.0%	14.1%	-23.4%	8.1%	2.4%	-4.9%	7.9%	6.7%
Current ratio	2.69×	0.74×	0.67×	0.71×	1.53×	1.82×	0.67×	1.07×
Debt / equity	5.82×	5.22×	6.23×	3.13×	2.99×	3.04×	3.54×	2.09×
Interest coverage	2.11×	2.72×	-1.6×	2.14×	1.29×	0.55×	2.29×	1.87×
Dividend yield	5.2%	7.1%	9.2%	7.7%	1.5%	2.7%	5.4%	8.1%
Payout ratio	143.1%	80.7%	-48.7%	144.2%	161.5%	-123.1%	148.5%	189.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	20.7%	33.6%	-61.0%	10.6%	2.6%	-4.5%	12.8%	9.8%
Return on invested capital	5.7%	8.4%	-4.8%	4.7%	3.0%	1.3%	5.6%	6.3%
Return on assets	2.8%	5.0%	-7.6%	2.4%	0.6%	-1.0%	2.6%	2.8%
Free cash flow yield	4.9%	7.1%	7.5%	5.9%	0.2%	1.9%	4.3%	4.7%
Earnings yield	3.6%	8.8%	-18.9%	5.3%	0.9%	-2.2%	3.7%	4.3%
Enterprise value	$8.1B	$6.9B	$6.6B	$6.8B	$7.6B	$6.2B	$7.6B	$4.8B
Net debt / EBITDA	8.85×	6.88×	-42.82×	9.64×	12.01×	15.65×	7.98×	5.42×
Cash conversion cycle (days)	73	41	37	39	47	28	34	80