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Cumulus Media
(OTC:CMLSQ)
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Rating:41Neutral
Price Target:
$0.01
▲(10.00% Upside)
Action:Reiterated
Date:08/18/26
The score is primarily held down by weak financial performance—sustained losses, declining revenue, and negative operating/free cash flow—alongside balance-sheet instability across periods. With limited technical indicators and no meaningful P/E or dividend yield data to support valuation, there are few offsetting positives in the provided dataset.
Positive Factors
Diversified audio monetization
Cumulus monetizes multiple audio channels rather than relying on one product. Broadcast, national networks, syndication and digital inventory can support cross-selling and provide structural avenues for revenue diversification.
Negative Factors
Declining revenue and sustained losses
Persistent revenue contraction combined with deeply negative operating and net margins signals weakening demand, monetization or cost control. Without a reversal, the business may struggle to cover its fixed station, content and corporate expenses.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified audio monetization
Cumulus monetizes multiple audio channels rather than relying on one product. Broadcast, national networks, syndication and digital inventory can support cross-selling and provide structural avenues for revenue diversification.
Read all positive factors
Cumulus Media (CMLSQ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$78.46K
Dividend YieldN/A
Average Volume (3M)29.57K
Price to Earnings (P/E)―
Beta (1Y)2.11
Revenue Growth-11.92%
EPS Growth38.09%
CountryUS
Employees2,862
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)-10.42
Shares Outstanding17,436,335
10 Day Avg. Volume22,326
30 Day Avg. Volume29,570
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)>-0.01
Price to Sales (P/S)0.00183
P/FCF Ratio-0.03
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-3.23
Revenue Forecast (FY)$729.30M
Cumulus Media Business Overview & Revenue Model
Company Description
Cumulus Media Inc. is a leading audio media enterprise, established in 2002 and headquartered in Atlanta, Georgia. The company manages an extensive network of radio broadcasting outlets throughout the United States, reaching diverse markets direct...
How the Company Makes Money
Cumulus Media primarily makes money by selling advertising and marketing services across its audio platforms. The largest revenue stream is typically broadcast radio advertising sold to local and national advertisers, where brands pay for on-air c...
Cumulus Media Earnings Call Summary
Earnings Call Date:Aug 07, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a company facing significant revenue challenges due to macroeconomic pressures and weak national advertising, partially offset by strong digital growth and effective cost management. While there are positive strategic initiatives and engagement from employees and shareholders, the revenue decline and high leverage present ongoing challenges.Positive Updates
Digital Marketing Services Growth
Digital marketing services business was up 38% year-over-year, with an expected surpass of $100 million run rate early next year. This reflects a strategic growth area for the company with a significant contribution to digital revenue.
Negative Updates
Total Revenue Decline
Total revenue down 9.2%, with broadcast revenue particularly impacted by macroeconomic pressures and a weak national advertising environment.
Read all updates
Q2-2025 Updates
Positive
Negative
Digital Marketing Services Growth
Digital marketing services business was up 38% year-over-year, with an expected surpass of $100 million run rate early next year. This reflects a strategic growth area for the company with a significant contribution to digital revenue.
Read all positive updates
Company Guidance
In the call, Cumulus Media provided guidance reflecting a challenging fiscal environment but highlighted several key performance metrics. The company reported a 9.2% decline in total revenue for Q2 2025, slightly better than previous guidance, with a significant decline attributed to macroeconomic pressures. Despite these challenges, Cumulus Media noted a 38% year-over-year increase in their local digital marketing services business, contributing to a 20% rise in total digital revenue. The company achieved over $175 million in fixed cost reductions over five years, including $5 million in Q2, and ended the quarter with $97 million in cash, partly due to a $55 million draw on their ABL revolver. Additionally, the company's broadcast segment faced headwinds, with a 20% decline in network revenue partly due to the discontinuation of certain programs. Looking ahead to Q3, Cumulus Media anticipates revenue pacing down in the low double digits but remains optimistic about digital growth, projecting their digital marketing services business to surpass a $100 million run rate early next year.Cumulus Media Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
35
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 700.68M | 741.70M | 827.08M | 844.55M | 953.51M | 916.47M |
| Gross Profit | 434.28M | 470.35M | 502.83M | 511.19M | 596.03M | 557.78M |
| EBITDA | -73.55M | -78.07M | 59.20M | 81.83M | 158.40M | 138.13M |
| Net Income | -181.59M | -200.70M | -283.25M | -117.88M | 16.23M | 17.28M |
Balance Sheet | ||||||
| Total Assets | 894.74M | 940.96M | 1.12B | 1.44B | 1.61B | 1.72B |
| Cash, Cash Equivalents and Short-Term Investments | 61.11M | 81.98M | 63.84M | 80.66M | 107.43M | 177.03M |
| Total Debt | 3.49M | 842.24M | 794.71M | 813.08M | 862.35M | 988.00M |
| Total Liabilities | 67.85M | 1.13B | 1.11B | 1.15B | 1.20B | 1.30B |
| Stockholders Equity | -217.15M | -191.52M | 6.95M | 286.58M | 408.40M | 419.50M |
Cash Flow | ||||||
| Free Cash Flow | -43.01M | -41.57M | -22.58M | 6.85M | 47.42M | 39.43M |
| Operating Cash Flow | -26.75M | -21.34M | -3.12M | 31.66M | 78.48M | 68.52M |
| Investing Cash Flow | -3.44M | -7.86M | -4.23M | -6.82M | -26.24M | -1.54M |
| Financing Cash Flow | -5.44M | 47.34M | -9.47M | -51.61M | -121.84M | -161.71M |
Cumulus Media Risk Analysis
Cumulus Media disclosed 35 risk factors in its most recent earnings report. Cumulus Media reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cumulus Media Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $9.68B | 10.92 | 7.53% | 3.62% | 0.44% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | $57.54M | -6.54 | -5.57% | 11.66% | -5.31% | -514.49% | |
53 Neutral | $106.66M | -2.04 | 94.89% | 12.68% | -4.89% | -226.50% | |
47 Neutral | $442.67M | -1.46 | 15.12% | ― | 3.06% | 24.95% | |
46 Neutral | $38.02M | -0.18 | -401.05% | ― | -16.12% | -1061.96% | |
41 Neutral | $78.46K | ― | -329.89% | ― | -11.92% | 38.09% |
* Communication Services Sector Average
CMLSQ
Cumulus Media
0.01
-0.16
-94.12%
BBGI
Beasley Broadcast Group
18.51
13.91
302.39%
SGA
Saga Communications
9.13
-2.20
-19.40%
SIRI
Sirius XM Holdings
28.51
6.15
27.52%
TSQ
Townsquare Media
5.85
-0.31
-5.09%
IHRT
iHeartMedia
2.68
0.47
21.27%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.