MARKETS / NASDAQ / SGA

NASDAQ · RADIO BROADCASTING STATIONS · SMALL CAP

Saga Communications Inc. SGA

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

Revenue

$107.1M

▼ 5.1% YoY

Net income

$-7.9M

▼ 328.3% YoY

Free cash flow

$2.4M

▼ 75.8% YoY

In brief

What this company does

It employs a variety of programming formats, including Classic Hits, Country, Classic Country, Hot/Soft/Urban Adult Contemporary, Oldies, Classic Rock, Active Rock, Top 40 and News/Talk, across its markets. To complement its broadcast platform, it offers digital advertising services typically integrated with radio campaigns, including paid search advertising, targeted digital display advertising, streaming advertising, social media advertising, online video advertising, website-based advertising, and on-line news services. Its primary source of revenue continues to be the sale of advertising to local and national businesses seeking to reach consumers in the markets it serves. As of February 28, 2026, it owned eighty-two FM and thirty AM radio stations and seventy-nine metro signals serving twenty-eight markets. As of December 31, 2025, it had approximately 580 full-time employees and 199 part-time employees, none of whom are represented by unions. Saga Communications, Inc. is a Florida corporation, reorganized in 2020, and was originally organized as a Delaware corporation in 1986.

Written from the business description in SAGA COMMUNICATIONS INC's annual report to the U.S. Securities and Exchange Commission, filed 14 April 2026. Every sentence was checked against that document before publication.

Growth

USD 107.1M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 107.1 · Net income -7.9

Compound annual growth

Revenue

−2.3%

+2.3%

−0.4%

−1.1%

Dividend / share

−41.0%

Returned to shareholders

−31.2%

+11.6%

+0.0%

+34.2%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +2.3% 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

−7 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating -10.3% · Net -7.4%

ROE

FY2025 · ROE -5.0%

Gross margin—

Operating margin-10.3%

Net margin-7.4%

Return on assets-3.7%

EBITDAUSD -5.9M

Each USD of equity lost 5 cents this year.

Cash & shareholders

USD 6.4M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 2.4

Net buybacks $M Dividends $M

FY2025 · Dividends 6.4 · Net buybacks —

Dividends paidUSD 6.4M

Net buybacks—

Share of profit-81.4%

Consecutive raises—

USD 6.4M in dividends went back to shareholders in a year without profit.

Total assetsUSD 201.3M

EquityUSD 151.5M

CashUSD 22.5M

Gross debtUSD 5.0M

Net debtUSD -17.5M

Current ratio3.04×

The company holds more cash than debt.

The 17-year record

17 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
Revenue $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Operating income $B	−0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EBITDA $B	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	0.0	0.0	0.0	0.0	0.0	−0.0
Net income $B	−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	0.0	−0.0
Free cash flow $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EPS, diluted $	−1.22	0.55	1.55	1.52	1.85	−0.32	2.23	2.30	9.27	3.09	2.29	2.55	2.64	3.16	2.23	2.68	−0.61
Dividend / sh $	1.00	1.60	3.00	4.86	0.98	0.32	1.20	1.45	2.00	1.30	1.10	1.80	1.80	1.24	0.00	0.00	·
Payout %	−81	651	209	215	17	−194	65	87	10	42	48	70	68	39	0	0	·
ROE %	−5.0	2.1	5.4	4.9	5.8	−1.0	7.0	7.5	34.8	14.1	11.3	13.3	14.3	18.2	14.6	21.0	−4.0
Shares out B	·	·	·	·	0.00	·	·	0.00	0.00	0.00	0.00	0.00	0.00	0.00	·	0.00	·

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 66 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityRadio Broadcasting Stations

Listed onNASDAQ

Incorporated inFlorida

Fiscal year endsDecember 31

SEC categorysmaller reporting company

Data on record since2009