Townsquare Media, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Townsquare Media, 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	516	507	408	431	371	418	463	454	451	427
Gross profit								125	124	109
General and administrative	25.4	25.8	27.1	28.6	26.9	24.5	24.4	25	23.8	21
Operating income	74.5	47.4	17.8	-37.1	-75	74.5	55.6	-19.1	21.7	44.2
Interest expense	34.1	32.8	34.3	33.9	31.4	39.8	39.8	37.2	36.2	47.9
Other non-operating income	0.23	-0.36	-0.81	-1.07	0.82	0.5	-2.04	5.98	4.96	-0.09
Pre-tax income	37	14.3	-17.1	-72.1	-104	29.1	13.8	-49.2	-9.62	-5.02
Income tax	16.1	-7.55	30.8	-14.6	-23.9	10.4	-0.56	-6.14	1.31	4.73
Income from continuing operations		21	-49.3	-59.6	-82.5
Net income to minority interests	0.27	0.88	1.36	2.11	1.92	2.05	2.05	1.94	1.78	1.77
Net income	23	-13.7	-98.7	-67.8	-82.5	16.7	12.3	-45	-12.7	-11.5
EBITDA	91.5	65.8	37.4	-11.3	-54.9	93.6	74.6	0.06	41.4	62.6
EPS, basic	1.28	-0.56						-2.68	-0.81
EPS, diluted	0.85	-0.56						-2.68	-0.81
Shares, basic (weighted)	18.3	27.4	27.5	27.5	27.6	18.6	17	16.8	15.6
Shares, diluted (weighted)	27.3	27.9	18.5	18.5	18.6	21.2	18.2	16.8	15.6	16.2
Dividend per share	0.00	0.00	0.30	0.30	0.08	0.00		0.75	0.79	0.80

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	47.1	61.2	60.5	84.7	83.2	50.5	43.4	61	33	4.76
Receivables	59.6	60.3	62.6	67.5	58.6	57.6	61.2	60.8	60.6	52
Other current assets	11.3	6.4	8.94	9.24	12.4	12.1	16	10.4	11.8	12.6
Total current assets	123	170	154	161	154	120	121	132	105	69.4
Property, plant and equipment	139	101	110	114	112	107	114	110	110	110
Lease right-of-use assets				49.5	48.3	43	51	46.9	48.3	45.1
Goodwill	252	216	227	158	158	158	161	157	153	148
Intangible assets	514	469	428	388	281	278	277	200	162	155
Other non-current assets	7.29	8.97	6.91	0.64	2.95	1.44	1.2	1.17	0.59	0.67
Total assets	1,081	1,034	937	880	769	726	745	652	580	529
Accounts payable	10.6	13.4	12.8	14.8	9.06	5.68	4.13	5.04	4.45	6.9
Accrued liabilities	12.5	10.6	15.7	10.7	12.5	14.4	14.8	13.1	12.9	11.5
Deferred revenue	17.2	9.34	7.92	8.09	8.85	10.2	10.7	9.06	9.9	8.74
Short-term debt	6.9	9.52	0.01	9.93	0				0	11.8
Total current liabilities	65.2	74.4	63.9	71.6	65.8	76	71.7	76.1	76.3	82.2
Long-term debt	564	556	555	547	543	542	524	500	466	421
Lease liabilities				45	44.7	38.7	45.1	41.4	44.2	42.1
Other non-current liabilities		8.38	7.59	0.35	3.58	0.43	15.4	13.1	10.2	7.27
Total liabilities	691	673	681	698	668	677	675	642	609	570
Total debt	579	572	560	560	543	542	531	504	466	433
Paid-in capital	365	367	366	368	370	303	310	311	307	320
Retained earnings	24.5	-6.48	-112	-188	-273	-257	-244	-302	-328	-353
Treasury stock						0	0	-2.18	-11.2	-11.2
Other comprehensive income	-0.72	-0.53	0
Minority interests	0.71	1.12	1.29	2.74	3.49	3.33	3.56	3.5	3.41	3.41
Total equity	390	361	256	182	101	49.6	69.1	9.91	-28.4	-41
Total liabilities and equity	1,081	1,034	937	880	769	726	745	652	580	529
Shares outstanding									16.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	23.3	-12.9	-97.3	-65.7	-80.6	18.8	14.4	-43	-10.9	-9.75
Depreciation and amortization	17.1	18.4	19.6	25.8	20.1	19.1	19	19.2	19.7	18.4
Stock-based compensation	4.25	0.72	1.63	2.59	2.08	3.72	3.8	8.03	17.2	13.8
Deferred income tax	15.2	-8.23	30.6	-15	-24.2	9.76	-1.33	-6.89	0.64	4.26
Change in receivables	3.83	-0.14	-2.28	-6.42	0.17	-3.07	-7.19	-3.9	-5	3.16
Change in payables	-2.11	-0.15	-5.02	2.39	-5.14	-3.35	-1.61	0.98	-0.75	2.5
Cash from operations	58.4	51.4	34.8	40	31.5	61.1	50.2	67.8	48.7	30.6
Capital expenditures	-15	-15.8	-18.1	-19.7	-14.9	-12.4	-15.8	-15	-17.4	-15.2
Acquisitions	-1.41	-5.51	-23.8	-0.79		0	-18.5	0
Purchases of investments	0	-0.86	0	0	-0.4	-0.28	0
Sales and maturities of investments		0	0	0.57	0	1.7	0.97	5.71	7.04	10.6
Cash from investing	-21	-28.8	-17.3	-5.88	-14	-10.6	-37.8	-3.57	-9.93	-4.46
Debt issued				0	50
Stock issued	0						0.79	6.75	7.89	0.85
Share buybacks		0	0	-0.4	0	-1.4	-0.23	-16.6	-23.6	0
Dividends paid	0	0	-6.18	-8.28	-4.2	-0.06	0	-9.34	-12.3	-13.2
Cash from financing	-19.7	-7.95	-18.1	-10.3	-18.9	-83.2	-19.5	-46.6	-67.4	-54.3
Exchange rate effect	-0.88	-0.05	-0.12	0
Net change in cash	16.8	14.5	-0.65	23.8	-1.44	-32.7	-7.09	17.6	-28.6	-28.2
Free cash flow	43.3	35.6	16.7	20.3	16.5	48.7	34.4	52.8	31.3	15.4
Interest paid	32.4	29.9	34	33.5	28.5	28.7	38.6	37.5	35.8	51.9
Income taxes paid	1.13	0.72	1.2	0.82	1.56	0.6	1.2	1.41	0.68	0.56

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 $4.98 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	24.8%	Gross profit / revenue.
Operating margin	0.6%	Operating income / revenue.
EBITDA margin	5.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-10.6%	Pre-tax income / revenue.
Net margin	-11.8%	Net income / revenue.
FCF margin	3.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.6%	Cash from operations / revenue.
Return on assets (ROA)	-10.2%	Net income / average total assets.
Stock-based pay / revenue	3.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.3%	Capital expenditures / revenue.
D&A / revenue	4.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-5.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-12.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y	103.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-7.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	51.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-5.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-37.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-15.2%	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	-0.6%	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	-50.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-23.5%	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	-1.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	1.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 5y	60.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-8.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-10.8%	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	-7.2%	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	3.7%	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	-3.8%	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	-2.8%	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	0.93x	Current assets / current liabilities.
Quick ratio	0.76x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.01x	(Cash + short-term investments) / current liabilities.
Debt / assets	88.9%	Total debt / total assets.
Liabilities / assets	116.0%	Total liabilities / total assets.
Net debt	$438.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	20.5x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$5.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	53.7%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.86x	Revenue / average total assets.
Fixed asset turnover	3.88x	Revenue / average property, plant and equipment.
Receivables turnover	7.05x	Revenue / average receivables.
Days sales outstanding	52 days	365 x average receivables / revenue.
Capex / operating cash flow	49.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.82	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	$23.87	Revenue / diluted weighted shares.
FCF per share	$0.80	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.59	Cash from operations / diluted weighted shares.
Cash per share	$0.07	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	97.4%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$90.8M	Share price x shares outstanding.
Enterprise value	$529.7M	Market cap + total debt - cash - short-term investments.
P/S	0.21x	Market cap / revenue.
P/FCF	6.37x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.21x	Market cap / cash from operations, when positive.
EV/Sales	1.25x	Enterprise value / revenue.
EV/EBIT	216x	Enterprise value / operating income, when both are positive.
EV/EBITDA	24.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	37.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	15.7%	Free cash flow / market cap.
Earnings yield	-55.4%	Net income / market cap (the inverse of P/E).
Dividend yield	15.3%	Dividends paid over the period / market cap.
Shareholder yield	15.3%	(Dividends paid + share buybacks) / market cap.

What was Townsquare Media, Inc.'s revenue in fiscal 2025?

Townsquare Media, Inc. reported revenue of $427.4M for fiscal 2025, 5.2% lower than the year before.

Was Townsquare Media, Inc. profitable in fiscal 2025?

No. It reported a net loss of $11.5M.

How much free cash flow did Townsquare Media, Inc. generate in fiscal 2025?

Cash from operations of $30.6M minus capital expenditures of $15.2M left free cash flow of $15.4M.

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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