Stagwell Inc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Stagwell Inc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,386	1,514	1,475	1,416	888	1,469	2,688	2,527	2,841	2,909
Cost of revenue	936	1,023	991	961	572	907	1,674	1,621	1,843	1,846
Gross profit	450	490	484	455	316	563	1,014	906	998	1,063
General and administrative	306	310	349	328	192	424	602	661	712	732
Operating income	48.4	132	1.43	79.5	83.7	44.7	159	90.5	133	159
Interest expense	56.5	62	64.4	62.2	59.1	31.9	76.1	90.6	92.3	96.4
Other non-operating income	-98.1	-44.9	-90.1	-58.6	-6.4	14.8	-83.6	0.54	-95.3	-90.2
Pre-tax income	-49.7	87.1	-88.7	20.9	77.3	59.6	75.6	91.1	37.7	68.8
Income tax	-9.4	-168	29.6	10.3	5.94	23.4	25.5	40.6	13.2	38.3
Income from continuing operations	-45.8	206	-138	-17.6	-243
Net income to minority interests	5.22	15.4	11.8	16.2	15.1	14.9	30.1	41.5	22.8	1.53
Net income	-45.8	242	-130	-5.25	56.4	21	19.9	0.13	2.26	29.1
EBITDA	94.9	175	47.6	118	125	122	291	233	285	330
EPS, basic	-0.89	3.72	-2.31
EPS, diluted	-0.89	3.71	-2.31
Shares, basic (weighted)	51.3	55.3	57.2	69.1	72.9	90.4	124	117	111	221
Shares, diluted (weighted)	51.3	55.5	57.2	69.1	72.9	90.4	297	122	116	265

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	27.9	46.2	30.9	107	92.5	184	221	120	131	105
Receivables	388	434	394	449	226	697	646	697	716	736
Other current assets	34.9	26.7	42.5	35.6	36.4	61.8	74	94.1	114	157
Total current assets	490	543	590	622	366	1,006	1,034	1,025	1,135	1,162
Property, plant and equipment	78.4	90.3	88.2	81.1	35.6	97.5	98.9	77.8	72.7	73.1
Lease right-of-use assets			0	224	57.8	312	274	254	219	214
Goodwill	845	836	733	325	352	1,653	1,567	1,499	1,554	1,595
Intangible assets	85.1	70.6	67.8	54.9	186	959	908	818	837	834
Other non-current assets	33.1	37.6	25.5	30.2	17	29.1	116	92.8	43.1	55.1
Total assets	1,577	1,699	1,601	1,828	1,014	4,056	3,997	3,767	3,908	4,215
Accounts payable	251	245	222	200	148	272	357	415	449	548
Short-term debt	0.23	0.31	0.36		0.99	0
Total current liabilities	803	776	743	820	337	1,294	1,370	1,374	1,367	1,480
Long-term debt	936	883	954	888	198	1,192	1,185	1,146	1,354	1,326
Lease liabilities			0	219	52.6	343	294	281	245	224
Other non-current liabilities	56	54.1	54.3	25.8	5.8	57.1	67.7	54.9	33.6	51.1
Total liabilities	2,027	1,792	1,807	1,982	615	3,133	3,029	2,931	3,123	3,413
Total debt	936	883	955	888	199	1,192	1,185	1,146	1,354	1,326
Paid-in capital		38.2	58.6
Retained earnings	-582	-340	-476	-481	0	-6.98	22.1	21.1	11.7	32.9
Other comprehensive income	-1.82	-1.95	4.72	-4.27	0	-5.28	-15.5	-13.1	-23.8	-19.3
Shareholders' equity	-575	-214	-311	-231	359	371	499	357	332	758
Minority interests	65.6	58	64.5	40.3	39.8	508	430	469	445	18
Total equity	-509	-160	-258	349	399	879	929	825	777	776
Total liabilities and equity	1,577	1,699	1,601	1,828	1,014	4,056	3,997	3,767	3,908	4,215

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-40.6	257	-118	10.9	74.6	21	50	41.6	25	30.6
Depreciation and amortization	46.4	43.5	46.2	38.3	41	77.5	131	143	152	171
Stock-based compensation	21	24.4	18.4	31	0	75	33.2	57.2	52.2	54.1
Deferred income tax	-10	-173	21.6	4.79	-5.46	-3.82	-18.2	19.4	-10.7	10.4
Change in receivables	-16.8	-50	31.3	-37.8	-26.8	-30.8	37.8	-58.7	8.47	28.8
Change in inventory	13	1.89	-11.2
Cash from operations	-45.9	71.8	17.3	86.5	138	201	348	81	143	291
Capital expenditures	-29.4	-33	-20.3	-18.6	-4.69	-8.8	-22.7	-14.2	-18.9	-43.7
Acquisitions	2.53	0	-32.7	-4.82	-14.7	150	-74.2	-23.3	-103	-6.18
Cash from investing	-25.2	-20.9	-50.4	0.12	-29	164	-116	156	-162	-114
Debt issued					0	1,100	0
Debt repaid	-0.51	-0.4	0	0	-22
Stock issued	0	0
Share buybacks	-3.35	-1.76	-0.78	-0.6	0	-0.84	-70.3	-224	-108	-134
Dividends paid	-32.9	-0.28	-0.2	-0.06
Cash from financing	35.7	-32.6	21.4	-11.7	-80.1	-273	-187	-340	36.9	-210
Exchange rate effect	2.13	-0.75	0.08	0	-0.32	0.16	-8	2.05	-5.72	5.87
Net change in cash	-33.3	17.5	-19.9	76.1	28.6	91.6	36.6	-101	11.6	-26.8
Free cash flow	-75.3	38.8	-2.98	67.9	133	192	325	66.8	124	247
Interest paid	64.7	62.9	64	62.2	9.29	23.5	70.9	87.1	91.1	94.4
Income taxes paid	2.9	8.1	3.84	2.3	10.7	58.6	41.2	45.5	23.9	23

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $8.32 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	35.8%	Gross profit / revenue.
Operating margin	4.6%	Operating income / revenue.
EBITDA margin	10.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.6%	Pre-tax income / revenue.
Net margin	0.5%	Net income / revenue.
FCF margin	8.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.9%	Cash from operations / revenue.
Effective tax rate	63.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	2.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.4%	Net income / average total assets.
Return on invested capital (ROIC)	5.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.6%	Capital expenditures / revenue.
D&A / revenue	5.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	26.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	27.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	19.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-0.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	13.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	16.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	21.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	1,188.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	13.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-12.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	103.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-5.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	99.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-8.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	13.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	128.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	16.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	33.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	128.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	29.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.81x	Current assets / current liabilities.
Quick ratio	0.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	2.17x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	34.5%	Total debt / total assets.
Liabilities / assets	83.2%	Total liabilities / total assets.
Net debt	$1.34B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.26x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.46x	Operating income / interest expense.
Working capital	-$285.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	57.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.74B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.72x	Revenue / average total assets.
Fixed asset turnover	42.5x	Revenue / average property, plant and equipment.
Receivables turnover	4.26x	Revenue / average receivables.
Days sales outstanding	86 days	365 x average receivables / revenue.
Days payables	96 days	365 x average accounts payable / cost of revenue.
FCF conversion	1,561.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	15.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.07	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$12.37	Revenue / diluted weighted shares.
FCF per share	$1.03	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.22	Cash from operations / diluted weighted shares.
Book value per share	$2.72	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$7.08	Tangible book value / shares outstanding.
Cash per share	$0.45	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	61.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.03B	Share price x shares outstanding.
Enterprise value	$3.37B	Market cap + total debt - cash - short-term investments.
P/E	126x	Market cap / net income. Only when net income is positive.
P/S	0.67x	Market cap / revenue.
P/B	3.04x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	8.05x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.78x	Market cap / cash from operations, when positive.
EV/Sales	1.11x	Enterprise value / revenue.
EV/EBIT	24.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.7x	Enterprise value / EBITDA, when both are positive.
EV/FCF	13.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	12.4%	Free cash flow / market cap.
Earnings yield	0.8%	Net income / market cap (the inverse of P/E).
Shareholder yield	7.6%	(Dividends paid + share buybacks) / market cap.

What was Stagwell Inc's revenue in fiscal 2025?

Stagwell Inc reported revenue of $2.91B for fiscal 2025, 2.4% higher than the year before.

Was Stagwell Inc profitable in fiscal 2025?

Yes. Net income was $29.1M, a net margin of 1%.

How much free cash flow did Stagwell Inc generate in fiscal 2025?

Cash from operations of $291.0M minus capital expenditures of $43.7M left free cash flow of $247.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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