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MARKETS / BALCAO / SALM
BALCAO · RADIO BROADCASTING STATIONS · SMALL CAP

Salem Media Group, Inc. SALM

14 fiscal years on record · USD · FY2022 reported · SEC filings only
$267.0M
▲ 3.4% YoY
$-3.2M
▼ 107.8% YoY
In brief

What this company does

Salem Media Group, Inc. is a domestic multimedia company specializing in Christian and conservative content, with media properties comprising radio broadcasting, digital media, and publishing. As of February 10, 2023, it employed 1,436 total employees, of whom 1,147 were full time and 289 were part time. It has three operating segments, Broadcast, Digital Media, and Publishing, which also qualify as reportable segments. As of the date of the annual report, it owned and/or operated 103 radio stations in 36 markets, including 63 radio stations in 23 of the top 25 markets in the United States, consisting of 33 FM radio stations and 70 AM radio stations. Its digital media segment provides Christian, conservative, investing content, retirement, e-commerce, audio and video streaming, and other resources digitally through the web. It publishes books for audiences interested in Christian and family-themed content as well as conservative news and opinion, and operates two businesses in its book publishing segment.

Written from the business description in SALEM MEDIA GROUP, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 13 March 2023. Every sentence was checked against that document before publication.

Growth
USD 267.0M
Revenue, FY2022 · full 14-year series below
Revenue $M Net income $M
FY2022 · Revenue 267.0 · Net income -3.2
100M200M-20M-40M20092011201320152017201920212022
Compound annual growth
+1.7%
+0.2%
+1.5%
+0.0%
+4.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +0.2% a year over five years.

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
−1 cents
lost on every revenue dollar
Operating margin Net margin
FY2022 · Operating 1.9% · Net -1.2%
5%10%15%-10%-20%20092011201320152017201920212022
ROE
FY2022 · ROE -1.8%
10%20%-10%-20%-30%20092011201320152017201920212022

Each USD of equity lost 2 cents this year.

Cash & shareholders
returned in FY2022 · dividends + net buybacks
Free cash flow $M
FY2014 · FCF 31.9
20M20092011201320152017201920212022
Net buybacks $M Dividends $M
FY2021 · Dividends 0.0 · Net buybacks —
2.5M5.0M201020132015201720192021

Total assetsUSD 505.1M
EquityUSD 175.4M
CashUSD 0.00
Gross debtUSD 159.3M
Net debtUSD 159.3M
Current ratio0.70×

Net debt stands at 91% of equity.

The 14-year record
14 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20222021202020192018201720162015201420132012201120102009
Revenue $B0.30.30.20.30.30.30.30.30.30.20.20.20.20.2
Operating income $B0.00.0−0.0−0.00.00.00.00.00.00.00.00.00.00.0
EBITDA $B0.00.10.00.00.00.00.00.10.00.00.00.10.10.0
Income tax $B−0.0−0.00.00.00.0−0.00.00.00.0−0.00.00.00.0−0.0
Net income $B−0.00.0−0.1−0.0−0.00.00.00.00.0−0.00.00.00.0−0.0
Free cash flow $B········0.00.00.00.00.00.0
EPS, diluted $−0.121.52−2.03−1.05−0.120.940.340.430.21−0.110.180.230.08−0.35
Dividend / sh $····0.260.260.070.260.240.210.14·0.20·
Payout %·0−1−21−213287559113−18977·251·
ROE %−1.826.5−33.3−13.5−1.411.14.25.52.7−1.32.22.81.0−4.2

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

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Provenance
Company facts, as filed
How we verify · 0 failures in 54 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 22 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRadio Broadcasting Stations
Listed onOTC market
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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