Lamar Advertising Company Financial Ratios — LAMR Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	5,929.68	6,809.95	35,671.75	243,416.35	271,715.03	306,096.41	323,786.73	307,946.46	369,896.52	240,614.85	381,995.07	429,688.24	485,684.31	352,684.88	569,696.12
Return on Assets (%)	0.19	0.23	1.16	7.54	7.86	8.23	7.83	6.97	7.1	4.15	6.56	7.01	7.6	5.5	8.69
Return on Capital (%)	6.36	5.75	9.65	- -	28.01	28.06	24.34	20.95	- -	10.94	14.32	15.46	17.54	14.44	20.03
Return on Invested Capital (%)	3.08	3.27	4.76	- -	11.95	12.86	12.41	11.8	- -	7.36	9.46	9.67	11.33	9.08	11.69
Gross Margin (%)	63.82	64.52	64.94	64.78	64.99	64.97	64.91	65.47	66.35	64.45	67.75	67.16	66.99	67.02	67.04
EBITDA Margin (%)	41.8	42.11	41.76	41.48	41.8	41.92	42.94	42.59	43.37	41.58	44.22	44.87	45.64	44.81	45.21
Operating Margin (%)	15.3	17.01	17.63	21.4	27.65	28.26	29.24	28.75	29.11	25.57	29.04	27.67	31.74	23.83	30.81
Incremental Operating Margin (%)	100.06	56.42	28.63	135.49	148.91	33.82	65.31	19.88	33.78	59.21	53.99	17.65	136.57	-149.8	291.21
Pretax Margin (%)	1.1	1.37	5.06	11.14	21.03	20.81	21.21	19.42	20.98	15.81	22.23	22.44	24	16.65	27.11
Profit Margin (%)	0.61	0.67	3.22	19.7	19.4	19.92	20.61	18.76	21.22	15.51	21.71	21.59	23.48	16.4	25.91
Net Income to Common Margin (%)	0.57	0.64	3.19	19.67	19.37	19.89	20.59	18.74	21.2	15.49	21.69	21.57	23.47	16.38	25.89
Effective Tax Rate (%)	44.69	51.09	36.27	- -	7.75	4.28	2.82	3.39	- -	1.88	2.33	3.83	1.93	1.23	3.47
Dvd Payout Ratio (%)	- -	- -	- -	94.19	101.12	98.38	76.84	145.22	103.52	103.67	104.41	115.96	102.55	159.18	109.56
Sustainable Growth Rate (%)	5,929.68	6,809.95	35,671.75	14,151.92	-3,046.63	4,968.21	74,974.49	-139,248.48	-13,005.97	-8,834.65	-16,831.53	-68,595.1	-12,404.11	-208,716.29	-54,471.54

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	2,159	2,161	1,939	1,900	1,891	2,349	2,557	2,889	4,245	4,096	4,226	4,572	4,643	4,558	4,919
ST Debt	17	33	56	16	17	34	18	204	423	319	374	457	462	469	484
LT Debt	2,141	2,128	1,883	1,884	1,875	2,315	2,539	2,685	3,822	3,776	3,851	4,115	4,181	4,089	4,435
Total Debt/EBITDA	4.57	4.35	3.73	3.56	3.34	3.74	3.86	4.17	5.58	6.28	5.35	5.01	4.82	4.61	4.8
Net Debt/EBITDA	4.5	4.23	3.66	3.51	3.3	3.68	3.69	4.14	3.88	4.24	3.69	3.58	3.42	3.2	3.27
Total Debt/EBIT	12.47	10.77	8.83	6.9	5.05	5.54	5.67	6.18	8.32	10.21	8.14	8.13	6.93	8.67	7.05
Net Debt/EBIT	12.28	10.47	8.68	6.8	4.99	5.46	5.42	6.13	5.79	6.89	5.61	5.8	4.92	6.01	4.8
EBITDA to Interest Expense	2.76	3.16	3.56	5.07	5.75	5.08	5.15	5.34	5.05	4.74	7.43	7.15	5.52	5.76	6.39
EBITDA-CapEx/Interest Expense	2.76	3.16	3.56	5.07	5.75	5.08	5.15	5.34	5.05	4.74	7.43	7.15	5.52	5.76	6.39
EBIT to Interest Expense	1.01	1.28	1.5	2.62	3.8	3.43	3.51	3.61	3.39	2.91	4.88	4.41	3.84	3.06	4.35
Interest Expense	171	157	146	105	98	124	128	130	151	138	106	128	175	172	160
Common Equity/Total Assets	-19.94	-19.56	-19.03	-19.07	-18.9	-16.18	-15.16	-15.3	-11.92	-12.38	-12.14	-12.42	-12.48	-15.74	-15.95
Long-Term Debt/Equity (%)	255.21	246.94	201.82	191.99	183.63	216.48	230.09	237.2	323.8	313.98	316.45	344.21	343.61	390.14	432.77
Long-Term Debt/Capital (%)	145.16	144.39	145.81	148.7	149.31	134.74	132.4	122.39	108.06	111.78	110.31	109.22	109.33	116.08	115.9
Long-Term Debt/Total Assets (%)	62.47	60.55	55.35	56.78	55.74	59.38	60.25	59.07	64.33	65.21	63.69	63.54	63.7	62.08	63.98
Total Debt/Equity (%)	257.27	250.79	207.82	193.58	185.24	219.65	231.69	255.23	359.66	340.52	347.21	382.44	381.57	434.91	479.98
Total Debt/Capital (%)	146.34	146.64	150.14	149.94	150.62	136.71	133.32	131.7	120.03	121.23	121.03	121.35	121.41	129.4	128.55
Total Debt/Total Assets (%)	62.98	61.49	57	57.25	56.23	60.25	60.67	63.56	71.45	70.72	69.88	70.6	70.74	69.2	70.96
Net Debt to Equity	253.28	243.95	204.26	190.92	183.06	216.32	221.23	253.33	250.27	229.88	239.41	272.73	270.92	301.65	327.3
Net Debt/Capital (%)	147.41	148.58	151.46	150.98	151.54	137.49	135.46	132.01	84.14	84.9	85.91	87.77	87.22	91.03	89.17
EBITDA	473	497	520	534	566	629	662	693	761	652	790	912	963	989	1,024
EBITDA-CapEx	473	497	520	534	566	629	662	693	761	652	790	912	963	989	1,024
Operating Income (Loss)	173	201	220	275	374	424	451	468	510	401	519	562	670	526	698

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.21	0.27	0.14	0.12	0.09	0.13	0.35	0.05	0.04	0.22	0.15	0.07	0.06	0.06	0.08
Current Ratio	1.59	1.37	1.15	1.21	1.19	1.13	1.29	0.8	0.46	0.69	0.59	0.5	0.52	0.55	0.58
Quick Ratio	1.12	1	0.79	0.87	0.83	0.81	0.97	0.56	0.42	0.66	0.56	0.47	0.48	0.49	0.51
CFO/Avg Current Liab	2.02	1.98	1.7	1.92	2.07	2.03	1.68	1.45	1.12	0.93	1.21	1.13	1.09	1.17	1.1
Common Equity/Total Assets	-19.94	-19.56	-19.03	-19.07	-18.9	-16.18	-15.16	-15.3	-11.92	-12.38	-12.14	-12.42	-12.48	-15.74	-15.95
Long-Term Debt/Equity (%)	255.21	246.94	201.82	191.99	183.63	216.48	230.09	237.2	323.8	313.98	316.45	344.21	343.61	390.14	432.77
Long-Term Debt/Capital (%)	145.16	144.39	145.81	148.7	149.31	134.74	132.4	122.39	108.06	111.78	110.31	109.22	109.33	116.08	115.9
Long-Term Debt/Total Assets (%)	62.47	60.55	55.35	56.78	55.74	59.38	60.25	59.07	64.33	65.21	63.69	63.54	63.7	62.08	63.98
Total Debt/Equity (%)	257.27	250.79	207.82	193.58	185.24	219.65	231.69	255.23	359.66	340.52	347.21	382.44	381.57	434.91	479.98
Total Debt/Capital (%)	146.34	146.64	150.14	149.94	150.62	136.71	133.32	131.7	120.03	121.23	121.03	121.35	121.41	129.4	128.55
Total Debt/Total Assets (%)	62.98	61.49	57	57.25	56.23	60.25	60.67	63.56	71.45	70.72	69.88	70.6	70.74	69.2	70.96
CFO/Total Liabilities	12.32	14.17	15.99	19.36	20.39	18.44	16.3	16.55	13.25	12.42	15.2	14.8	14.66	15.77	14.63
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.16	1.45	1.95	2.26	2.72	2.73	2.74	2.42	1.79	1.67	2.22	1.81	2.04	1.94	2.01

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	15.34	7.68	7.75	7.77	7.87	8.24	7.87	7.44	7.15	6.33	7	7.32	7.2	6.94	6.7
Days Sales Outstanding	23.8	47.53	47.11	46.98	46.39	44.32	46.37	49.04	51.05	57.67	52.15	49.84	50.68	52.59	54.44
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	31.62	31.95	32.5	30.51	28.02	29.94	30.37	28.66	32.58	41.32	40.53	37	36.79	36.55	39.25
Accounts Payable Turnover Days	11.54	11.43	11.23	11.96	13.03	12.19	12.02	12.74	11.2	8.83	9	9.87	9.92	9.99	9.3
Cash Conversion Cycle	12.25	36.11	35.88	35.02	33.36	32.13	34.36	36.31	39.84	48.84	43.15	39.97	40.76	42.6	45.14
Inventory to Cash Days	23.8	47.53	47.11	46.98	46.39	44.32	46.37	49.04	51.05	57.67	52.15	49.84	50.68	52.59	54.44
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	2,553	3,618	4,932	5,107	5,777	6,531	7,270	6,836	8,938	8,385	12,267	9,584	10,832	12,449	12,855
- Cash & Cash Equivalents	34	59	33	26	22	36	115	21	26	122	100	53	45	49	65
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	13
+ Total Debt	2,159	2,161	1,939	1,900	1,891	2,349	2,557	2,889	4,245	4,096	4,226	4,572	4,643	4,558	4,919
Enterprise Value	4,678	5,720	6,837	6,981	7,646	8,845	9,712	9,703	13,157	12,359	16,394	14,103	15,431	16,958	17,722
Total Capital	1,475	1,474	1,291	1,267	1,256	1,718	1,918	2,193	3,537	3,378	3,492	3,767	3,824	3,522	3,826
Total Debt/Capital (%)	146.34	146.64	150.14	149.94	150.62	136.71	133.32	131.7	120.03	121.23	121.03	121.35	121.41	129.4	128.55
Total Debt / EV	0.46	0.38	0.28	0.27	0.25	0.27	0.26	0.3	0.32	0.33	0.26	0.32	0.3	0.27	0.28
EV/Sales	4.14	4.85	5.49	5.42	5.65	5.9	6.3	5.96	7.5	7.88	9.17	6.94	7.31	7.68	7.82
EV/EBITDA	9.9	11.51	13.14	13.08	13.52	14.06	14.67	14	17.3	18.94	20.74	15.47	16.02	17.15	17.3
EV/EBIT	27.03	28.5	31.13	25.34	20.43	20.86	21.55	20.74	25.77	30.81	31.58	25.08	23.03	32.24	25.39
EV/Cash Flow to Firm	11.32	12.63	14.01	10.93	13.45	13.82	15.37	14.06	16.8	17.53	19.56	15.6	16.16	16.26	17.39
EV/Free Cash Flow to Firm	11.32	12.63	14.01	10.93	13.45	13.82	15.37	14.06	16.8	17.53	19.56	15.6	16.16	16.26	17.39
Diluted Market Cap	2,562	3,630	4,950	5,111	5,781	6,569	7,303	6,855	8,955	8,397	12,294	9,594	10,852	12,486	12,865
Diluted Enterprise Value	4,687	5,732	6,856	6,985	7,650	8,883	9,744	9,722	13,174	12,371	16,420	14,113	15,451	16,995	17,732
EV per Share	50.39	61.26	72.44	73.32	79.39	91.06	99.17	98.2	131.39	122.66	162.1	138.91	151.4	165.84	174.51
TTM Sales	1,131	1,180	1,246	1,287	1,353	1,500	1,541	1,627	1,754	1,569	1,787	2,032	2,111	2,207	2,266
TTM EBITDA	473	497	520	534	566	629	662	693	761	652	790	912	963	989	1,024
TTM Operating Income	173	201	220	275	374	424	451	468	510	401	519	562	670	526	698
TTM Cash Flow to Firm	413	453	488	639	568	640	632	690	783	705	838	904	955	1,043	1,019
TTM Free Cash Flow to Firm	413	453	488	639	568	640	632	690	783	705	838	904	955	1,043	1,019

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	8.04	9.66	12.54	11.29	12.1	12.59	14.4	12.14	14.19	14.74	16.74	12.28	13.85	14.29	14.89
EV/EBIT	27.03	28.5	31.13	25.34	20.43	20.86	21.55	20.74	25.77	30.81	31.58	25.08	23.03	32.24	25.39
Enterprise Value	4,678	5,720	6,837	6,981	7,646	8,845	9,712	9,703	13,157	12,359	16,394	14,103	15,431	16,958	17,722
Low Price	16.49	23.37	39.1	43.39	51.03	49.73	62.45	61.36	66.15	30.89	78.06	81.1	77.21	100.15	99.84
EV/Sales	4.14	4.85	5.49	5.42	5.65	5.9	6.3	5.96	7.5	7.88	9.17	6.94	7.31	7.68	7.82
EV/EBITDA	9.9	11.51	13.14	13.08	13.52	14.06	14.67	14	17.3	18.94	20.74	15.47	16.02	17.15	17.3
Price/Earnings	393.25	480.86	123.99	20.18	22.03	21.88	22.91	22.42	24.04	34.5	31.64	21.87	21.87	34.44	21.91
Price/Earnings Average	403.09	402.46	108.95	19.26	21.12	20.33	22.17	22.99	21.49	29.3	27.16	23.2	19.77	33.9	21.09
Price/Earnings High	598.89	514.86	124.18	20.74	22.68	22.57	24.43	26.15	24.17	40.14	32.32	28.8	23.11	39.57	23.3
Price/Earnings Low	235.81	290	92.79	16.32	18.75	16.18	19.27	19.89	17.82	12.81	20.36	18.79	15.88	28.33	17.28
Price/Book Value	-3.74	-5.27	-7.62	-8.07	-9.09	-10.35	-11.38	-9.83	-12.62	-11.69	-16.71	-11.92	-13.22	-12.01	-11.63
Price/Book Value Average	-3.83	-4.41	-6.69	-7.7	-8.71	-9.62	-11.01	-10.08	-11.28	-9.93	-14.34	-12.64	-11.95	-11.82	-11.19
Price/Book Value High	-5.69	-5.64	-7.63	-8.3	-9.35	-10.68	-12.13	-11.47	-12.68	-13.6	-17.07	-15.69	-13.98	-13.8	-12.37
Price/Book Value Low	-2.24	-3.18	-5.7	-6.53	-7.73	-7.66	-9.57	-8.72	-9.35	-4.34	-10.75	-10.24	-9.61	-9.88	-9.17
Price/Tangible Book Value	-2.4	-3.31	-4.98	-5.69	-6.22	-5.05	-5.07	-4.01	-5.18	-5.16	-6.95	-4.68	-5.44	-6.07	-5.84
Price/Tangible Book Value Average	-2.46	-2.77	-4.38	-5.43	-5.97	-4.69	-4.91	-4.12	-4.63	-4.38	-5.97	-4.97	-4.92	-5.98	-5.62
Price/Tangible Book Value High	-3.65	-3.55	-4.99	-5.84	-6.4	-5.21	-5.41	-4.68	-5.21	-6.01	-7.1	-6.17	-5.75	-6.98	-6.21
Price/Tangible Book Value Low	-1.44	-2	-3.73	-4.6	-5.29	-3.73	-4.27	-3.56	-3.84	-1.92	-4.47	-4.02	-3.95	-5	-4.61
Price/Sales	2.26	3.07	3.96	3.97	4.27	4.35	4.72	4.2	5.1	5.34	6.86	4.72	5.13	5.64	5.67
Price/Sales Average	2.31	2.57	3.48	3.79	4.09	4.04	4.56	4.31	4.56	4.54	5.89	5	4.64	5.55	5.46
Price/Sales High	3.44	3.28	3.96	4.08	4.39	4.49	5.03	4.9	5.12	6.22	7.01	6.21	5.42	6.48	6.03
Price/Sales Low	1.35	1.85	2.96	3.21	3.63	3.22	3.97	3.73	3.78	1.98	4.42	4.05	3.73	4.64	4.47
Price/Cash Flow	8.01	9.63	12.49	11.29	12.1	12.52	14.34	12.1	14.17	14.71	16.7	12.26	13.82	14.25	14.88
Price/Cash Flow Average	8.21	8.06	10.98	10.77	11.59	11.63	13.88	12.41	12.67	12.5	14.34	13.01	12.5	14.03	14.32
Price/Cash Flow High	12.2	10.31	12.51	11.6	12.45	12.91	15.29	14.11	14.24	17.12	17.06	16.15	14.61	16.37	15.82
Price/Cash Flow Low	4.8	5.81	9.35	9.13	10.29	9.26	12.06	10.73	10.5	5.46	10.75	10.53	10.04	11.72	11.73
Price/Free Cash Flow Average	8.24	8.08	11.02	10.78	11.6	11.69	13.94	12.44	12.69	12.51	14.37	13.02	12.52	14.07	14.33
Price/Free Cash Flow High	12.24	10.34	12.56	11.61	12.46	12.98	15.36	14.15	14.27	17.14	17.1	16.17	14.64	16.42	15.84
Price/Free Cash Flow Low	4.82	5.82	9.39	9.14	10.3	9.31	12.12	10.76	10.52	5.47	10.77	10.55	10.06	11.76	11.74
EV/Sales Average	4.19	4.35	5.01	5.24	5.47	5.59	6.15	6.07	6.96	7.07	8.2	7.23	6.82	7.6	7.61
EV/Sales High	5.32	5.07	5.49	5.54	5.77	6.03	6.61	6.66	7.53	8.75	9.32	8.43	7.6	8.52	8.18
EV/Sales Low	3.23	3.63	4.49	4.67	5.01	4.76	5.55	5.49	6.18	4.52	6.73	6.28	5.91	6.68	6.62
EV/EBITDA Average	10.03	10.33	11.99	12.64	13.09	13.33	14.32	14.25	16.05	17.01	18.55	16.11	14.94	16.95	16.83
EV/EBITDA High	12.72	12.03	13.16	13.34	13.81	14.39	15.4	15.64	17.36	21.05	21.08	18.8	16.66	19.02	18.1
EV/EBITDA Low	7.73	8.62	10.76	11.25	11.99	11.36	12.93	12.89	14.26	10.86	15.21	13.99	12.94	14.92	14.65
EV/EBIT Average	27.4	25.56	28.41	24.5	19.79	19.77	21.03	21.11	23.92	27.66	28.24	26.12	21.48	31.87	24.7
EV/EBIT High	34.75	29.78	31.17	25.86	20.88	21.35	22.62	23.17	25.86	34.23	32.09	30.48	23.95	35.77	26.56
EV/EBIT Low	21.13	21.35	25.48	21.8	18.13	16.85	18.99	19.09	21.24	17.67	23.16	22.68	18.61	28.04	21.5
Last Price	27.5	38.75	52.25	53.64	59.98	67.24	74.24	69.18	89.26	83.22	121.3	94.4	106.28	121.74	126.58
High Price	41.88	41.49	52.33	55.14	61.73	69.35	79.17	80.68	89.72	96.82	123.92	124.32	112.34	139.88	134.63
Enterprise Value Average	4,742	5,130	6,239	6,749	7,407	8,381	9,476	9,876	12,209	11,095	14,659	14,686	14,391	16,764	17,240
Enterprise Value High	6,014	5,976	6,845	7,124	7,815	9,050	10,194	10,840	13,203	13,729	16,658	17,141	16,048	18,813	18,539
Enterprise Value Low	3,656	4,284	5,596	6,005	6,784	7,144	8,557	8,931	10,843	7,086	12,021	12,753	12,468	14,751	15,006

Shares Outstanding	93	94	95	96	97	97	98	100	101	101	101	102	102	102	101
Diluted Weighted Avg Shares	93	94	95	95	96	98	98	99	100	101	101	102	102	103	102
Basic Weighted Avg Shares	93	93	94	95	96	97	98	99	100	101	101	102	102	102	102
Revenue per Share	12.18	12.63	13.2	13.52	14.05	15.45	15.74	16.47	17.51	15.57	17.67	20.02	20.71	21.58	22.32
EBITDA per Share	5.09	5.32	5.51	5.61	5.87	6.47	6.76	7.01	7.6	6.47	7.82	8.98	9.45	9.67	10.09
Operating Income per Share	1.86	2.15	2.33	2.89	3.89	4.36	4.6	4.73	5.1	3.98	5.13	5.54	6.57	5.14	6.87
Basic EPS, GAAP	0.07	0.08	0.42	2.66	2.72	3.07	3.24	3.09	3.71	2.41	3.83	4.32	4.86	3.54	5.78
Basic EPS from Cont Ops	0.07	0.08	0.43	2.66	2.73	3.08	3.24	3.09	3.72	2.42	3.84	4.32	4.87	3.55	5.84
Diluted EPS, GAAP	0.07	0.08	0.42	2.66	2.72	3.05	3.23	3.08	3.71	2.41	3.83	4.31	4.85	3.52	5.77
Diluted EPS from Cont Ops	0.07	0.08	0.42	2.66	2.72	3.06	3.23	3.08	3.71	2.41	3.83	4.32	4.87	3.54	5.84
Dividend per Share	- -	- -	- -	2.51	2.76	3.03	2.49	4.48	3.85	2.5	4.01	5.01	5.01	5.66	6.46
Cash Flow per Share	3.43	4.03	4.18	4.75	4.96	5.37	5.18	5.72	6.3	5.66	7.26	7.7	7.69	8.54	8.51
Free Cash Flow per Basic Share	3.43	4.03	4.18	4.75	4.96	5.37	5.18	5.72	6.3	5.66	7.26	7.7	7.69	8.54	8.51
Cash & Equivalents per Share	0.36	0.63	0.35	0.27	0.23	0.37	1.18	0.22	0.26	1.21	0.99	0.52	0.44	0.48	0.64
Book Value per Share	-7.36	-7.36	-6.86	-6.65	-6.6	-6.5	-6.53	-7.04	-7.07	-7.12	-7.26	-7.92	-8.04	-10.14	-10.89
Tangible Book Value per Share	-11.47	-11.69	-10.49	-9.43	-9.64	-13.32	-14.64	-17.23	-17.22	-16.12	-17.45	-20.16	-19.52	-20.04	-21.67

Lamar Advertising Company

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)