PJ Solomon on Out of Home Values based on 2019 estimated cashflow

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Yesterday, PJ Solomon published a calculation of the value of the public out of home companies as a multiple of estimated 2019 cashflow.

  • The public out of home companies are trading at 11 times 2019 estimated cashflow.
  • Focus Media (a chinese out of home company which trades on the Shenzhen Stock Exchange) has the highest multiple at 17.7 times estimated 2019 cashflow.  The UK’s Ocean Outdoor has the lowest multiple at 6.8 times cashflow.
  • Lamar, Outfront and Clear Channel Outdoor are at 14.2 times, 12.6 times and 11.0 times estimated 2019 cashflow.

Reprinted by permission of Mark Boidman, PJ Solomon

Source: PJ Solomon Media Monthly July 2019

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