| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 47 | 20.3x | 17.8x | Around median | |
Growth | 67 | 7.6% | 7.1% | Top tier | |
Quality | 74 | 8.3% | 4.5% | Top tier | |
Safety | 23 | 7.5x | 2.6x | Bottom tier | |
Capital Return | 46 | 4.19% | 2.12% | Around median | |
Momentum | 65 | 66.8% | 2.9% | Around median | |
Sentiment | 72 | 4 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Outfront Media sells out-of-home advertising space across roadside billboards and transit networks, in static and digital formats. The company generates revenue from commercial advertisers and major institutions, while expanding automated and programmatic sales channels for digital assets. In Q2 fiscal 2026, digital revenue represented approximately 37% of total revenue, compared with 34% in the comparable period, while programmatic and direct automated sales accounted for 20% of digital revenue versus approximately 17%.
Revenue in Q2 fiscal 2026 reached approximately $522.5 million, up 13.5%, and net income rose to $77.5 million from $19.5 million, equivalent to a net income margin of approximately 14.8%. Adjusted OIBDA reached approximately $160 million, up 29% and equivalent to a margin of approximately 30.6%, while AFFO increased 45% to $121 million. This performance exceeded management's previous expectations, supported by strong demand and FIFA revenue that exceeded $35 million during the quarter.
At the operating mix level, billboard revenue grew 8%, or 9.4% excluding the Los Angeles billboard contract that the company exited, while transit revenue jumped 32%, led by New York MTA, which achieved growth of 48%. Digital billboard revenue rose 17.6%, or more than 21% excluding the aforementioned contract, and digital transit revenue increased approximately 36% to approximately $68 million. Commercial revenue also grew 15% and institutional revenue approximately 12%, indicating broad-based growth across multiple advertiser categories.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $37.5, within a narrow range of $37 to $38, with a consensus rating of “Buy”; the average is above the top of the 52-week range of $34.96, while the bottom of the range is $16.97. The displayed P/E ratio does not provide a comparable valuation anchor, so the valuation thesis depends mainly on continued AFFO growth and digitalization versus the risks of a declining FIFA impact, accelerating SG&A, and interest expense of approximately $145 million in fiscal 2026.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Revenue reached $522.5 million, up 13.5%, and net income jumped to $77.5 million from $19.5 million. Transit revenue grew 32% and billboard revenue 8%, while FIFA campaigns contributed more than $35 million during the quarter. Adjusted OIBDA rose 29% to $160 million, while AFFO grew 45% to $121 million.
New York MTA led growth in the transit segment, with its revenue rising 48% in Q2 fiscal 2026, compared with 32% growth for the segment as a whole. In contrast, the contract's annual minimum guarantee is $161 million in fiscal 2026, which the company recognizes evenly at approximately $40 million each quarter. Management explained that it does not expect to recover the full cost of the digital investment over the life of the contract, following the impairment it recorded in 2023.
The company generated more than $50 million of FIFA revenue in total, including more than $35 million in Q2 fiscal 2026, and estimated that approximately half of the total was incremental to normal business. It expects another benefit of $16 million in Q3 fiscal 2026, split between $9 million for billboards and $7 million for transit. Management aims to retain advertisers that began or expanded their spending during the tournament, but it did not disclose the amount of revenue that came specifically from new customers.
Digital revenue grew by more than 23% in Q2 fiscal 2026 and represented approximately 37% of total revenue, compared with 34% in the comparable period. Programmatic and direct automated sales rose approximately 50%, but remained at 20% of digital revenue, leaving room for expansion in management's view. The company is supporting this path through its investment in AdQuick, strengthening the programmatic sales team, and expanding analytics and measurement under the leadership of Hugh Griffiths.
Net leverage was approximately 4 times as of June 30, 2026, at the low end of the target range of 4 to 5 times, with committed liquidity of approximately $600 million. The company refinanced $650 million of 5% notes due in 2027 through $500 million of new 6% notes due in 2034, in addition to the accounts receivable facility and cash. On August 5, 2026, a 10% increase in the quarterly cash distribution to $0.33 per share was announced, while expected interest expense remained near $145 million in fiscal 2026.
The company announced a five-year partnership in August 2026 that makes it the official media partner and exclusive out-of-home advertising partner within New York Jets sponsorship packages. The partnership allows Outfront Media's inventory to be integrated into the offerings the team presents to sponsors across the stadium, digital channels, and outdoor advertising. The company did not disclose a specific financial value for the contract, so its investment impact depends on its actual ability to attract additional sponsorship and advertising budgets.
