IHRT iHeartMedia, Inc.

Overview and Growth

In fiscal 2025, iHeartMedia, Inc. recorded $3.86B of revenue, net loss of $472.87M, and an operating cash inflow of $92.58M. At $3.86B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $3.85B in fiscal 2024, revenue recorded a 0.3% year-over-year increase. Diluted earnings per share were -$3.06, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted shares averaged 154.29M; this is the reported share base over which the company’s diluted per-share earnings were spread. The company employed $5.13B of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.75x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The company recorded an operating loss of $20.64M after the reported operating expense base. An operating margin of -0.5% reflected costs exceeding revenue-level gross profit by 0.5% of sales. The company ended the period with a net loss of $472.87M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 12.2% after all recognized items. EBITDA was $339.41M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. The pretax result was a loss of $473.68M, establishing the deficit before tax effects. Pretax margin was -12.3%, reflecting a pre-tax loss equal to 12.3% of revenue. The reported tax benefit was $1.79M, favorably bridging the pretax and after-tax results. The loss-to-assets relationship was 9.2%, placing the bottom-line deficit against the company’s resource base. The bottom-line deficit decreased from $1.01B in fiscal 2024 to $472.87M.

Liquidity and Capital Structure

Total assets were $5.13B, supported by $6.95B of liabilities and -$1.83B of shareholder equity. The company reported negative equity of -$1.83B, a capital deficit that reduces its ability to absorb losses through book equity. Current assets were $1.46B against $967.42M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.51x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $270.92M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 28.0%, excluding receivables and other current assets. Total debt was $5.05B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-assets relationship was 98.6%, comparing borrowing with the total asset balance. The equity-to-assets relationship was -35.6%, placing book capital against the total resource base. The liabilities-to-assets relationship was 135.6%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 5.3% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $5.57B in fiscal 2024, the current asset base moved 8.0% and finished lower. Cash and equivalents were 4.4% higher than fiscal 2024 cash of $259.58M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $92.58M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Capital spending was $81.67M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 88.2% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $10.91M, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 0.3% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 0.2%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.