Lamar Advertising Co.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.27B | $2.21B | $2.11B | $2.03B | $1.79B | $1.57B | $1.75B | $1.63B |
| Cost of Revenue | $746.9M | $727.9M | $696.8M | $667.3M | $576.5M | $557.7M | $590.1M | $561.8M |
| Gross Profit | $1.52B | $1.48B | $1.41B | $1.36B | $1.21B | $1.01B | $1.16B | $1.07B |
| Gross Margin | 67.0% | 67.0% | 67.0% | 67.2% | 67.7% | 64.5% | 66.4% | 65.5% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $368.7M | $361.1M | $344.8M | $350.6M | $327.0M | $287.9M | $318.4M | $289.4M |
| Operating Income | $774.1M | $532.0M | $675.4M | $578.0M | $521.2M | $410.1M | $517.7M | $460.6M |
| Operating Margin | 34.2% | 24.1% | 32.0% | 28.4% | 29.2% | 26.1% | 29.5% | 28.3% |
| Interest Expense | — | — | $174.5M | $127.5M | $106.4M | $137.6M | $150.6M | $129.7M |
| Pretax Income | $614.4M | $367.5M | $506.6M | $456.1M | $397.3M | $248.0M | $367.9M | $315.9M |
| Income Tax Expense | $21.3M | $4.5M | $9.8M | $17.5M | $9.3M | $4.7M | $-4.2M | $10.7M |
| Net Income | $587.2M | $361.9M | $495.8M | $438.6M | $388.1M | $243.4M | $372.1M | $305.2M |
| Net Margin | 25.9% | 16.4% | 23.5% | 21.6% | 21.7% | 15.5% | 21.2% | 18.8% |
| EPS (Basic) | $5.78 | $3.54 | $4.86 | $4.32 | $3.83 | $2.41 | $3.71 | $3.09 |
| EPS (Diluted) | $5.77 | $3.52 | $4.85 | $4.31 | $3.83 | $2.41 | $3.71 | $3.08 |
| Shares Outstanding (Basic) | 101.6M | 102.3M | 101.9M | 101.5M | 101.1M | 100.8M | 100.1M | 98.8M |
| Shares Outstanding (Diluted) | 101.6M | 102.6M | 102.1M | 101.6M | 101.3M | 100.9M | 100.3M | 99.1M |
| Dividends Per Share | $6.45 | $5.65 | $5.00 | $5.00 | $4.00 | $2.50 | $3.84 | $3.65 |