iHeartMedia Inc. Class A Common Stock (IHRT) : juste valeur

Thèse ACCE

iHeartMedia runs the largest radio broadcasting network in the US, combining a portfolio of local FM and AM stations with iHeartRadio, its digital audio platform, and a podcast and advertising business that sells across both. The main thing it has going for it is scale: a national reach of local stations that smaller operators and pure-digital rivals find hard to replicate for local advertisers. Revenue is growing at 4.7%, and a 58.8% gross margin shows the business is still profitable at the unit level, though the 3.6% operating margin is thin for a company carrying heavy debt, which is why the equity is so sensitive to any slip in ad spending. The stock screens expensive on forward earnings at 41.5 times, and the -2444% return on equity reflects a small equity base built up through years of losses rather than anything that should reassure a buyer. A score of 38/100 and no index membership at a $274M market cap make this a name for a deeper look at balance sheet and refinancing terms before anything else.