MARKETS / NASDAQ / LAMR

NASDAQ · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Lamar Advertising Co/new LAMR

18 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$2.3B

▲ 2.7% YoY

Net income

$587.2M

▲ 62.3% YoY

Free cash flow

$683.2M

▼ 8.7% YoY

In brief

What this company does

It manages its business through three operating segments: billboard, logo and transit advertising. As of December 31, 2025, it owned and operated approximately 159,300 billboard advertising displays in 45 states and Canada, including approximately 5,500 digital billboard advertising displays in 43 states and Canada. As of December 31, 2025, it operated over 144,400 logo sign advertising displays in 24 states and the province of Ontario, Canada. As of December 31, 2025, it operated approximately 40,600 transit advertising displays in 23 states and Canada. It has operated under the Lamar name since its founding in 1902 and has been publicly traded on NASDAQ under the symbol "LAMR" since 1996. During 2014, it completed a reorganization to qualify as a real estate investment trust for federal income tax purposes.

Written from the business description in LAMAR ADVERTISING CO/NEW's annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth

USD 2.3B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 2.3 · Net income 0.6

Compound annual growth

Revenue

+3.7%

+7.6%

Net income

+10.2%

+19.3%

+8.4%

EPS, diluted

+10.2%

+19.1%

+7.8%

Dividend / share

+8.9%

+20.9%

+8.9%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +7.6% a year over five years — but profit grew faster: net income at +19.3%, earnings per share at +19.1%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

26 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 34.2% · Net 26.2%

ROE

FY2023 · ROE 41.5%

Gross margin67.0%

Operating margin34.2%

Net margin26.2%

Return on assets8.8%

EBITDAUSD 1.1B

Cash & shareholders

USD 140.2M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 683.2

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 140.2

Dividends paid—

Net buybacksUSD 140.2M

Share of profit23.9%

Consecutive raises2 years

USD 140.2M in buybacks — 24% of the year's profit went back to shareholders.

Total assetsUSD 6.9B

CashUSD 64.8M

Gross debtUSD 3.4B

Net debtUSD 3.4B

Current ratio0.58×

Not available: we don't have the shareholders' equity figure for this period.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	2.3	2.2	2.1	2.0	1.8	1.6	1.8	1.6	1.5	1.5	·	·	·	·	·	·	·	·
Operating income $B	0.8	0.5	0.7	0.6	0.5	0.4	0.5	0.5	0.5	0.4	0.4	0.3	0.2	0.2	0.2	0.1	0.1	0.2
EBITDA $B	1.1	1.0	1.0	0.9	0.8	0.7	0.8	0.7	0.7	0.6	0.6	0.5	0.5	0.5	0.5	0.5	0.4	0.5
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	−0.1	0.0	0.0	0.0	−0.0	−0.0	0.0
Net income $B	0.6	0.4	0.5	0.4	0.4	0.2	0.4	0.3	0.3	0.3	0.3	0.3	0.0	0.0	0.0	−0.0	−0.1	0.0
Free cash flow $B	0.7	0.7	0.6	0.6	0.6	0.5	0.5	0.4	0.4	0.4	0.4	0.3	0.3	0.3	0.2	0.3	0.3	0.1
EPS, diluted $	5.77	3.52	4.85	4.31	3.83	2.41	3.71	3.08	3.23	3.05	2.72	2.66	0.42	0.08	0.07	−0.44	−0.64	0.02
Dividend / sh $	6.45	5.65	5.00	5.00	4.00	2.50	3.84	3.65	3.32	3.02	2.75	2.50	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	·	·	41.5	36.4	32.1	20.4	32.2	27.3	29.2	28.6	26.2	26.5	4.5	0.9	0.8	−4.9	−6.8	0.2

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 15 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityReal Estate Investment Trusts

Listed onNASDAQ

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2008