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Owns and operates outdoor billboards and other out-of-home advertising displays across the United States and Canada.
Owns and operates outdoor billboards and other out-of-home advertising displays across the United States and Canada.
Rents out space on billboards under mostly short contracts, and local advertisers account for most of its business, so income follows local advertising demand. Digital boards rotate several advertisers on one structure, raising income per board. It converted to a REIT in 2014, so most taxable income is paid out as dividends.
Moat: narrow (scale, regulatory licence, installed base). Permitted billboard locations are hard to replace given local zoning restrictions on new sign permits.
Headquarters: Baton Rouge, Louisiana, United States · Founded: 1902 · Employees: 3,500
Size Lamar Advertising (LAMR) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $15.8B, the 578th largest of 3,117 United States companies the cockpit tracks. Shares closed at $155.99 on 6 Nov 2026.
Performance Over six months the shares fell 1.2%, against -0.8% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 4.4% over the last twelve months (peer median +4.5%); the operating margin is 31.6% (peer median 34.6%).
Valuation It trades at 16.13× book value against a peer median of 1.79× (most expensive of 20).
Price implies The share price implies a return on equity of about 134.1%; Lamar Advertising delivers 58.9%, so the price asks more than the business earns today.
Credit Lamar Advertising has 4 bonds outstanding ($2.09B), rated BB by the agencies and trading like BBB- at a weighted spread of 117 bp.
Short interest Short interest is 3.6% of the free float (15 Oct 2026).
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.33B | $2.27B | $2.21B | $2.11B | $2.03B |
| Revenue growth | — | +3% | +5% | +4% | — |
| Gross profit | $1.25B | $1.19B | $1.02B | $1.13B | $1.02B |
| EBITDA | $1.07B | $1.04B | $1.00B | $978M | $922M |
| Net income | $556M | $587M | $362M | $496M | $439M |
| Free cash flow | $718M | $683M | $748M | $605M | $615M |
| Capital expenditure | $189M | $181M | $125M | $178M | $167M |
| Total debt | $4.98B | $4.92B | $4.56B | $4.64B | $4.57B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Lamar Advertising LAMR | $15.8B | -1% | +4% | 59% | 16.13× | 134.1% |
| OUTFRONT Media OUT | $5.42B | -9% | +8% | 36% | 7.82× | 77.8% |
| Clear Channel Outdoor CCO | n/a | +2% | n/a | n/a | n/a | n/a |
| JCDecaux DEC.PA | $6.40B | +42% | +1% | 15% | 2.46× | 20.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LAMR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.1% | +6.3% | 11th highest of 21 |
| 6-month return | -1.2% | -0.8% | 10th lowest of 21 |
| Return on equity | 58.9% | 7.3% | highest of 20 |
| Price / book | 16.13× | 1.79× | most expensive of 20 |
| Trailing P/E | 28.5× | 25.2× | 9th most expensive of 18 |
| ROE the price implies | 134.1% | 15.1% | most demanding of 20 |
| ROE delivered | 58.9% | 7.3% | highest of 20 |
| Bond spread | 117 bp | 93 bp | 2nd widest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Lamar Advertising LAMR | United States | $15.8B | -1% | +4% | 59% | 16.13× | 134.1% | 58.9% |
| Invitation Homes INVH | United States | $15.6B | -5% | +5% | 7% | 1.79× | 13.6% | 7.4% |
| Weyerhaeuser WY | United States | $15.1B | -10% | -1% | 5% | 1.61× | 13.6% | 4.8% |
| SEGRO SGRO.L | United Kingdom | $16.6B | +33% | +7% | 2% | 1.03× | 14.8% | 2.5% |
| W. P. Carey WPC | United States | $15.0B | -12% | +9% | 8% | 1.71× | 12.9% | 7.7% |
| Host Hotels & Resorts HST | United States | $16.9B | +15% | +5% | 16% | 2.64× | 22.6% | 15.8% |
| Kimco Realty KIM | United States | $17.0B | +10% | +3% | 7% | 1.67× | 13.9% | 7.2% |
| Annaly Capital Management NLY | United States | $14.8B | -17% | +23% | 7% | 1.05× | 11.8% | 7.3% |
| CapitaLand Integrated Commercial Trust C38U.SI | Singapore | $14.6B | +2% | +5% | 8% | 1.09× | 6.1% | 7.6% |
| Omega Healthcare Investors OHI | United States | $14.6B | +2% | +14% | 14% | 2.66× | 15.3% | 14.2% |
| Sun Communities SUI | United States | $14.4B | -4% | -19% | 5% | 2.76× | 18.4% | 5.3% |
| Essex Property Trust ESS | United States | $17.5B | +4% | +5% | 6% | 3.30× | 20.8% | 6.4% |
| Healthpeak Properties DOC | United States | $14.3B | +4% | +9% | 5% | 1.78× | 15.1% | 4.9% |
| Link REIT 0823.HK | Hong Kong | $13.8B | +3% | -3% | -5% | 0.71× | 5.9% | -4.7% |
| Mid-America Apartment Communities MAA | United States | $13.8B | -8% | +1% | 7% | 2.45× | 16.1% | 7.0% |
| Regency Centers REG | United States | $13.7B | -3% | +8% | 8% | 2.06× | 15.2% | 8.2% |
| Camden Property Trust CPT | United States | $13.4B | -3% | +1% | 8% | 2.68× | 18.2% | 7.8% |
| Scentre SCG.AX | Australia | $13.1B | -1% | -4% | 10% | 0.97× | 11.6% | 10.4% |
| American Healthcare REIT AHR | United States | $12.7B | +12% | +16% | 4% | 3.05× | 20.7% | 4.0% |
| SBA Communications SBAC | United States | $19.8B | -13% | +2% | n/a | n/a | n/a | n/a |
| Equity LifeStyle Properties ELS | United States | $12.3B | 0% | +3% | 22% | 6.99× | 37.4% | 22.3% |
Lamar Advertising has 4 bonds outstanding with $2.09B face value. The agencies rate it BB; its bonds trade like BBB-. Weighted yield 5.65%, a spread of 117 bp over government bonds.