Here’s a recent post I put up at www.billboardinsider.com about valuing billboard easements. I get asked what what billboard easements are worth all the time. I’m used to seeing a value of 6-10 times cashflow for billboard easements. 6 times cashflow for fast or distressed sales. 8-10 times cashflow for […]
Billboard Values
Outdoor Values June 2015
Public company valuations declined by about 4% during the second quarter of 2015 as can be seen in the Table Below. The three large public outdoor companies were valued at 4.3 times revenue and 13.6 times cash-flow at June 30, 2015. Clear Channel trades at a much lower valuation than […]
Outdoor Values March 2015
Public outdoor values have been increasing. The three US outdoor companies are valued at 4.4 times revenues and 14.2 times cashflow as the following table demonstrates. Enterprise Value/Revenue March 2015 Clear Channel Revenue Multiple 2.83 Lamar Revenue Multiple 5.84 Outfront Revenue Multiple 4.65 Average Revenue Multiple 4.44 […]
Outdoor Advertising Company Valuations January 2015
The rule of thumb is that an outdoor advertising company is worth 4-6 times gross revenue. My company has been involved in 18 sales of small, mostly rural billboard companies. The sales multiples varied from 3.2 times revenues to 13 times revenues. The median sales price was 4.9 times […]
Reuters says Dealmakers turn sights to US Billboards
Liana Baker of Reuters has writes here that the big four outdoor companies are flush with money and looking to roll up small operators. Billboard values are rising. Outfront Media paid 10.8 times cashflow (EBIDTA) for Van Wagner versus an 8-10 times cashflow norm for the industry.
What Are Billboard Easements Worth?
“How much is my billboard land lease worth?” I get asked that question by landowners wanting to sell their billboard leases and by investors and billboard companies who want to buy easements under billboards. The answer: 6 to 10 times the annual cashflow associated with the lease. In other words […]
Lamar Revenue up 3% first quarter 2014
Lamar announced that first quarter 2014 revenues increased 3% to $285 million for the first quarter of 2014. The 3% revenue growth was below market expectations and below the 4% growth for the us outdoor industry during 2013. At 5/8/14 Lamar had a gross value of $6.5 million which equates […]
Public Outdoor Company Valuations
CBS Outdoor is going public at an expected enterprise value of 3.6 times revenue or 11.5 times cashflow. Lamar is setting the industry standard with an enterprise value of 5.5 times revenue or 12.8 times cashflow. Clear Channel Outdoor is the industry laggard with an enterprise value of 2.66 times […]
Billboard financing and radio station financing powerpoints added to www.billboardloans.com website.
You can access a radio station financing powerpoint Dave Westburg presented to the NAB leadership Development Program in November 2013 by clicking this link You can access a Billboard financing powerpoint in which Dave Westburg discusses billboard industry issues and billboard financing trends by clicking this link.
Five Questions for Paul Wright of SignValue, Inc.
SignValue, Inc. is the leading valuation and advisory firm in the country located in Mesa, Arizona. They operate the signvalue.com website listing dozens of billboards for sale around the United States. Paul Wright is an expert on trends in the billboard industry and a certified appraiser. His book Billboard Appraisal: The Valuation of Off-Premise Advertising Signs is a must read for […]
