National advertising spending trends (automotive, telecom, financial services categories represent 40%+ of national revenue)
Local advertising market health tied to small/medium business confidence and regional economic conditions
Digital audio revenue growth rate and iHeartRadio monthly active user (MAU) trends versus Spotify/Pandora competition
Debt refinancing announcements and covenant compliance given $5.3B+ debt burden with negative equity
high - Advertising spending is highly procyclical, with radio/outdoor budgets among first cut during recessions. Local advertising (50%+ of radio revenue) correlates directly with small business revenue and employment trends. Automotive advertising (largest category) tracks vehicle sales and dealer inventory levels. During 2008-2009 recession, radio ad revenue declined 20%+. Consumer discretionary spending drives retail/restaurant advertising demand. GDP growth above 2.5% typically supports mid-single-digit revenue growth; below 1% GDP triggers double-digit revenue declines.
Rising rates negatively impact iHeartMedia through multiple channels: (1) Higher debt service costs on floating-rate portions of $5.3B debt load reduce free cash flow available for operations/deleveraging, (2) Increased borrowing costs constrain M&A capacity for digital acquisitions or station upgrades, (3) Higher rates pressure small business advertising budgets as financing costs rise for local advertisers (auto dealers, home services), (4) Valuation multiple compression as investors demand higher equity risk premiums. However, rate increases driven by strong economic growth can offset through higher ad demand.
Secular decline in terrestrial radio listenership as consumers shift to streaming platforms (Spotify, Apple Music, podcasts), connected car adoption reduces AM/FM usage, and younger demographics (18-34) exhibit 40%+ lower radio consumption than older cohorts
Digital advertising market dominated by Google/Meta duopoly with superior targeting/attribution capabilities, limiting iHeartMedia's ability to capture programmatic budgets despite 250M+ reach
Regulatory risk from FCC ownership caps preventing consolidation, potential changes to public airwave licensing requirements, and content regulation debates
value/distressed - The stock attracts deep value investors and distressed debt specialists betting on operational turnaround, debt restructuring success, or digital transformation acceleration. Negative equity and high leverage deter institutional quality investors. Momentum traders capitalize on volatility around earnings, refinancing announcements, and advertising market sentiment shifts. Not suitable for income investors (no dividend) or growth investors (mature declining industry). High-risk/high-reward profile appeals to hedge funds with restructuring expertise.
Trend
+12.5% vs SMA 50 · +109.9% vs SMA 200
Momentum
Heavy distribution on elevated volume — institutions appear to be exiting. Squeeze setups unlikely while selling pressure persists.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
ANALYST ESTIMATES
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2023 | $3.7B $3.7B–$3.8B | — | -$6.01 | — | ±1% | Low2 |
FY2024 | $3.9B $3.9B–$3.9B | ▲ +4.4% | -$6.51 | — | ±0% | Moderate4 |
FY2025 | $3.8B $3.8B–$3.8B | ▼ -1.7% | -$2.69 | — | ±3% | Moderate3 |
INSTITUTIONAL OWNERSHIP
IHRT News
About
iHeartMedia, Inc. is the number one audio company in America based on consumer reach. The Company's leadership position in audio extends across multiple platforms, including through more than 850 live broadcast stations in over 160 markets nationwide; through its iHeartRadio service, which is available across more than 250 platforms and 2,000 devices including smart speakers, smartphones, TVs and gaming consoles; through its influencers; social; live events; podcasting; and other digital products and newsletters. The company uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners, and uses its proprietary SmartAudio suite of data targeting and analytics to provide unique advertising products across all its platforms.
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
IHRT◀ | $4.79 | +0.42% | $622M | — | +27.1% | -1223.5% | 1500 |
| $396.78 | -1.07% | $4.8T | 30.0 | +1512.6% | 3280.0% | 1523 | |
| $393.32 | -0.97% | $4.8T | 30.0 | +1512.6% | 3280.0% | 1522 | |
| $614.23 | -0.68% | $1.6T | 22.1 | +2216.7% | 3008.4% | 1501 | |
| $87.02 | +0.09% | $366.4B | 27.5 | +1585.1% | 2430.4% | 1479 | |
| $185.22 | -1.58% | $200.4B | 19.3 | +848.8% | 1244.7% | 1485 | |
| $46.37 | -1.47% | $193.6B | 11.2 | +252.5% | 1242.8% | 1505 | |
| Sector avg | — | -0.75% | — | 23.3 | +1136.5% | 1894.7% | 1502 |