# iHeartMedia, Inc. (IHRT)

> Source: Nexqual · https://nexqual.com/IHRT · data as of 2026-11-03 21:00 UTC · cite as "Nexqual, iHeartMedia, Inc. (IHRT), nexqual.com/IHRT" · informational, not investment advice.

## What changed for IHRT since Aug 31, 2025
The built-in knowledge of several widely used AI models ends around Aug 31, 2025. Everything below is newer, dated and sourced (as of Nov 3, 2026).

- iHeartMedia, Inc. (IHRT) stock went from USD 2.13 (close of the week of Aug 25, 2025, split-adjusted) to USD 2.09, a -1.9% price change; the S&P 500 (SPY) moved +18.5% over the same period.
- IHRT revenue over the last four reported quarters (through Jun 30, 2026) was $3.99B, +3.4% vs $3.85B in fiscal year 2024 (ended Dec 31, 2024), the last full year filed before September 2025; net income -$1.01B → -$286M (SEC 10-K / 10-Q).
- Analyst actions on IHRT in the last 120 days: 1 (0 upgrades or target raises, 1 downgrades or target cuts); most recent B of A Securities, Jul 7, 2026.

**Price:** USD 2.09 (+15.47% on the day) · last close of Nov 3, 2026; US market after hours, not a live price. Prev close 1.81 · day 1.81–2.17 · 52w 1.38–6.56 · market cap $324M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.99B, net income -$286M (-7.2% margin), free cash flow $36.3M (SEC filings).
- Analysts: Sell (mean 3.75 on a 1–5 scale) (4 analysts), mean target USD 3.63 (range 2.25–5).
- Total return with dividends: 1Y -47.6% vs S&P 500 +12.9%; 5Y -89.6% vs S&P 500 +72.1%.
- Next earnings: 2026-11-09, EPS estimate USD -0.03, revenue estimate $1.05B. All companies reporting that day: https://nexqual.com/earnings/2026-11-09
- Dividend: IHRT paid no cash dividend in the last five years.
- Short interest: 6.39% of float (as of 2026-10-15), 7.2 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.56B | $3.91B | $3.75B | $3.85B | $3.86B | $3.99B |
| Operating income | $155M | $56.9M | -$797M | -$763M | -$20.6M | $6.4M |
| Net income | -$159M | -$265M | -$1.10B | -$1.01B | -$473M | -$286M |
| EPS (diluted) | -$1.09 | -$1.79 | -$7.39 | -$6.68 | -$3.06 | — |
| Free cash flow | $147M | $259M | $110M | -$26.2M | $10.9M | $36.3M |
| Operating margin | 4.4% | 1.5% | -21.3% | -19.8% | -0.5% | 0.2% |
| Net margin | -4.5% | -6.8% | -29.4% | -26.2% | -12.2% | -7.2% |
| Revenue growth | +20.7% | +9.9% | -4.1% | +2.8% | +0.3% | — |
| Cash + short-term investments | $352M | $336M | $346M | $260M | $271M | — |
| Total debt | $5.74B | $5.41B | $5.22B | $5.07B | $5.05B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.1x · EV/EBITDA 15.1x · EV/Sales 1.3x · P/FCF 8.9x · FCF yield 11.21% · Earnings yield -88.34% · Net debt $4.87B · EV $5.19B

## Analysts
Consensus Sell (mean 3.75 on a 1–5 scale), 4 analysts; mean target USD 3.63 (low 2.25, high 5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-07 | B of A Securities | Target lowered | Neutral | $6 → $5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-11-04) | 5Y (from 2021-11-01) |
|---|---|---|
| Total return | -47.6% | -89.6% |
| S&P 500 (SPY) | +12.9% | +72.1% |
| Per year | -47.7% | -36.4% |
| Volatility (annualized) | 83.0% | 86.0% |
| Max drawdown | -76.3% (May 2026→Oct 2026) | -96.1% (Nov 2021→May 2024) |

## Dividends
IHRT paid no cash dividend in the last five years.

## Short interest
5,427,849 shares sold short, 6.39% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 6,365,360 shares (-14.7%). Days to cover: 7.2 (short shares ÷ average daily volume).

## Peers (Broadcasting)
GTN-A (Gray Media, Inc.) USD 7.05 -29.43% · SBGI (Sinclair, Inc.) USD 13.47 +3.86% · NMAX (Newsmax, Inc.) USD 8 +0.13% · NXST (Nexstar Media Group, Inc.) USD 178.56 +0.57%

## More
Full page: https://nexqual.com/IHRT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in IHRT's own 10-K filed 2026-03-02 (https://www.sec.gov/Archives/edgar/data/1400891/000162828026013221/ihrt-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Netflix (NFLX) | "•A video podcast partnership with Netflix, making Netflix the exclusive home for video versions of 15 top iHeart podcasts;" |
| Partner | ByteDance | "•A multiplatform partnership with TikTok that included the creation of the TikTok Podcast Network, new co-branded radio programming, and live-event integrations;" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Multiplatform Group | $535.7M | 54.8% | -1.6% |
| Digital Audio Group | $364.1M | 37.3% | +12.4% |
| Audio & Media Services Group | $80.5M | 8.2% | +18.8% |
| Total revenue | $977.2M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Broadcast Radio | $397.6M | 40.7% | +0.5% |
| Trade and Barter Transactions | $110.1M | 11.3% | +44.8% |
| Networks | $103.7M | 10.6% | -3.8% |
| Sponsorship and Events | $30.5M | 3.1% | -16.3% |
| Other | $3.8M | 0.4% | -14.3% |
| Total revenue | $977.2M | 100% | — |
The lines above cover 66.1% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.03 | $0.24 | −$0.26 | $1.05B | 4 |
| Next quarter (ends 2026-12-31) | $0.65 | $0.52 | +26.1% | $1.23B | 4 |
| Current fiscal year (ends 2026-12-31) | $-0.50 | $-0.21 | −$0.30 | $4.14B | 4 |
| Next fiscal year (ends 2027-12-31) | $0.01 | $0.04 | -67.6% | $4.14B | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-09): ±33.6%; last 8 reports averaged ±19%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 45 | 92.8% | ±33.6% |
| 2027-01-15 | 73 | 130.8% | ±47.5% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 10, 2026 | Quarter ended Jun 30, 2026 | −$0.52 | −$0.33 | Miss −57.6% | -24.0% |
| May 11, 2026 | Quarter ended Mar 31, 2026 | −$0.61 | −$0.54 | Miss −13.0% | -14.6% |
| Mar 2, 2026 | Quarter ended Dec 31, 2025 | −$0.26 | $0.13 | Miss −$0.39 | -9.9% |
| Nov 10, 2025 | Quarter ended Sep 30, 2025 | −$0.43 | −$0.01 | Miss −$0.42 | -7.1% |
| Aug 11, 2025 | — | — | — | — | +26.9% |
| Feb 27, 2025 | — | — | — | — | -22.0% |
| Nov 7, 2024 | — | — | — | — | +40.2% |
| Aug 8, 2024 | — | — | — | — | -7.0% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-13 | Schedule 13G/A | DEUTSCHE BANK AG\, Deutsche Bank Securities Inc\: 4.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1400891/000094804626000044/0000948046-26-000044-index.htm |
| 2026-08-10 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1400891/000162828026055252/0001628280-26-055252-index.htm |
| 2026-08-10 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1400891/000162828026055243/0001628280-26-055243-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.