Lee Enterprises, Incorporated (LEE) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 25	-$0.58	-$2.07	-256.9%	—	$137.4M	—
Q1 25	-$0.4	-$2.8	-600.0%	—	$144.6M	—
Q4 24	$0.65	-$1.69	-360.0%	—	$158.6M	—
Q3 24	$0.68	-$0.73	-207.4%	—	$150.6M	—
Q2 24	-$0.22	-$2.06	-836.4%	—	$146.6M	—
Q4 23	$1.4	-$0.32	-122.9%	—	$164M	—
Q3 23	$0.93	$0.65	-30.1%	—	$171.3M	—
Q2 23	-$0.51	-$0.65	-27.5%	—	$170.7M	—
Q1 23	$0.9	-$0.08	-108.9%	—	$185.1M	—
Q4 22	$1.31	-$1.09	-183.2%	—	$193.6M	—
Q3 22	$0.48	$0.69	+43.7%	—	$195M	—
Q2 22	-$0.11	-$0.03	+72.7%	—	$190M	—
Q1 22	$0.54	$1.06	+96.3%	—	$202.3M	—
Q3 18	$1.1	$1.27	+15.5%	—	$132.6M	—
Q2 18	—	$0.4	—	—	$127.8M	—
Q3 17	$0.6	$0.5	-16.7%	—	$139.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$6.2	—	—	$562.3M	—
FY24	—	-$4.35	—	—	$611.4M	—
FY23	—	-$0.9	—	—	$691.1M	—
FY22	—	-$0.35	—	—	$781M	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$614.4M	$566.9M	$544M	$509.9M	$618M	$794.6M	$781M	$691.1M	$611.4M	$562.3M
YoY change	-5.27%	-7.72%	-4.05%	-6.27%	+21.2%	+28.6%	-1.72%	-11.5%	-11.5%	-8.02%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	614.4M	566.9M	544M	509.9M	618M	794.6M	781M	691.1M	611.4M	562.3M
Cost of revenue	26.1M	24.9M	24.9M	22.2M	24.2M	29.8M	30.1M	25.3M	16.8M	13M
Gross profit	588.3M	542M	519M	487.6M	593.8M	764.9M	750.9M	665.8M	594.6M	549.4M
Gross margin	95.8%	95.6%	95.4%	95.6%	96.1%	96.3%	96.1%	96.3%	97.2%	97.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	229.8M	213.1M	199.2M	182.9M	243M	330.9M	317.8M	266.9M	234.6M	216M
Operating expenses	448.5M	412.9M	398.8M	376.6M	502.4M	656.5M	662.7M	590M	536.5M	510.7M
Operating income	96.3M	87.9M	88.4M	81.7M	55.2M	65.5M	51.6M	45.2M	30.4M	19.9M
Operating margin	15.7%	15.5%	16.3%	16%	8.94%	8.25%	6.61%	6.54%	4.98%	3.53%
Non-operating income, net	32M	14.7M	550K	-3.2M	7.3M	11.3M	-9.1M	-6.8M	-20.4M	-22M
Pretax income	58.2M	40.2M	30.8M	23.8M	2.8M	32M	795K	-3.1M	-31.2M	-42.6M
Income tax	22.2M	11.6M	-16.2M	7.9M	3M	7.3M	698K	-349K	-7.6M	-6.9M
Net income	36M	28.6M	47M	15.9M	-130K	24.8M	97K	-2.7M	-23.6M	-35.7M
Net margin	5.86%	5.05%	8.65%	3.12%	-0.02%	3.12%	0.01%	-0.4%	-3.86%	-6.36%
EBITDA	166.7M	145.4M	127.4M	114.8M	95.1M	111.2M	111.5M	83.6M	68.1M	45.5M
EPS	6.6	5.1	8.4	2.6	-0.5	3.99	-0.35	-0.9	-4.35	-6.2
Diluted EPS	6.4	5	8.2	2.5	-0.5	3.91	-0.35	-0.9	-4.35	-6.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	164M	155.7M	146.6M	150.6M	158.6M	144.6M	137.4M	141.3M	139.1M	130.1M	122M	126M
Cost of revenue	5.1M	4.8M	4.2M	4.1M	3.7M	3.6M	3.1M	3.3M	3M	3M	2.5M	2.5M
Gross profit	158.9M	150.8M	142.4M	146.5M	154.9M	140.9M	134.3M	138M	136.1M	127.1M	119.4M	123.4M
Gross margin	96.9%	96.9%	97.2%	97.3%	97.7%	97.5%	97.7%	97.7%	97.9%	97.7%	97.9%	98%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	59M	59.7M	56.8M	59.3M	58.8M	60.3M	56.7M	47.4M	51.7M	49.4M	46.7M	44.8M
Operating expenses	132.8M	134.5M	129.1M	133.5M	139.5M	134.9M	128.1M	124.7M	122.9M	118.2M	109.5M	106.9M
Operating income	18.6M	9.1M	6M	6.2M	9.2M	-253K	984K	9.6M	9.6M	5.3M	6.4M	13M
Operating margin	11.4%	5.84%	4.09%	4.1%	5.77%	-0.18%	0.72%	6.76%	6.9%	4.05%	5.28%	10.3%
Non-operating income, net	-8.7M	2.5M	-10.3M	-635K	-12M	-2.4M	-4.8M	-3.8M	-10.9M	780K	2.9M	-905K
Pretax income	-438K	1.5M	-14.5M	-4.5M	-13.7M	-13M	-13.8M	-4.4M	-11.5M	-4.2M	1.7M	6.6M
Income tax	888K	248K	-2.8M	-849K	-4.2M	3.2M	-1.8M	-2.7M	-5.6M	931K	3.4M	1.4M
Net income	-1.3M	1.2M	-11.6M	-3.7M	-9.5M	-16.2M	-12M	-1.7M	-5.8M	-5.1M	-1.7M	5.2M
Net margin	-0.81%	0.79%	-7.94%	-2.45%	-5.98%	-11.2%	-8.75%	-1.19%	-4.19%	-3.94%	-1.4%	4.11%
EBITDA	28.1M	21.7M	14.8M	14.8M	20.4M	7.8M	8M	15.1M	14.7M	10.8M	11.8M	18.7M
EPS	-0.32	0.12	-2.06	-0.73	-1.69	-2.8	-2.07	-0.31	-1.06	-0.92	-0.16	0.21
Diluted EPS	-0.32	0.12	-2.06	-0.73	-1.69	-2.8	-2.07	-0.31	-1.06	-0.92	-0.16	0.21

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	199.5M	118.8M	145M	111.9M	—	129.3M	101.7M	62.8M	51.8M	33M	151.6M
Enterprise value	773.4M	634.7M	607.4M	535.6M	—	652.1M	601.9M	548.4M	526M	504.6M	569.5M
Shares outstanding	5.3M	5.4M	5.5M	5.5M	6.2M	5.7M	5.8M	5.9M	5.9M	6.1M	6.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	5.54	4.15	3.08	7.04	—	5.21	1K	—	—	—	-1.09
P/S	0.32	0.21	0.27	0.22	—	0.16	0.13	0.09	0.08	0.06	0.29
P/B	-1.56	-1.3	-4	-3.04	—	2.99	5.9	2.65	-7.06	-0.81	3.9K
EV/EBITDA	4.64	4.36	4.77	4.67	—	5.86	5.4	6.56	7.72	11.1	10.7
EV/Sales	1.26	1.12	1.12	1.05	—	0.82	0.77	0.79	0.86	0.9	1.1
Earnings yield	18.1%	24.1%	32.5%	14.2%	—	19.2%	0.1%	—	—	—	-91.6%
FCF yield	36.1%	57.4%	36.7%	46.2%	—	32.9%	-4.6%	-13.2%	-15.6%	-21.5%	17.4%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	95.8%	95.6%	95.4%	95.6%	96.1%	96.3%	96.1%	96.3%	97.2%	97.7%	98%
Operating margin	15.7%	15.5%	16.3%	16%	8.94%	8.25%	6.61%	6.54%	4.98%	3.53%	11.1%
Net margin	5.86%	5.05%	8.65%	3.12%	-0.02%	3.12%	0.01%	-0.4%	-3.86%	-6.36%	-1.84%
ROE	-28.2%	-31.4%	-129.8%	-43.2%	0.44%	57.3%	0.56%	-11.5%	321.4%	87.3%	91.8%
ROA	5.43%	4.61%	8.18%	2.87%	-0.02%	2.94%	0.01%	-0.38%	-3.63%	-5.94%	3.89%
ROIC	13.4%	14.7%	20.7%	14.1%	0%	8.96%	1.22%	8.88%	6.52%	4.62%	8.26%
Return on tangible assets	-25.5%	-19.8%	-30%	-9.93%	0.08%	-19%	-0.06%	1.99%	16%	23.9%	6.44%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.78	0.69	0.91	0.99	0.76	0.77	0.83	0.93	0.85	0.79	1.17
Quick ratio	0.74	0.65	0.82	0.93	0.7	0.72	0.77	0.87	0.8	0.75	1.11
Debt / equity	-4.63	-5.77	-12.9	-11.7	-20.6	12.7	30	21.1	-66	-11.8	12.2K
Debt / assets	0.89	0.85	0.81	0.78	0.71	0.65	0.69	0.7	0.75	0.8	0.76
Net debt / EBITDA	3.44	3.55	3.63	3.69	6.05	4.7	4.48	5.81	6.96	10.4	7.44
Interest coverage	1.91	1.7	1.58	1.5	1.06	1.72	1.02	0.93	0.24	-0.05	0.78
Effective tax rate	38.1%	28.9%	0%	33.3%	100%	22.6%	87.8%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	115.5	105	99.4	92.9	99.5	139.2	135.1	117.8	102.9	92.7	42.9
EPS (basic)	6.6	5.1	8.4	2.6	-0.5	3.99	-0.35	-0.9	-4.35	-6.2	-6.2
EPS (diluted)	6.4	5	8.2	2.5	-0.5	3.91	-0.35	-0.9	-4.35	-6.2	-1.26
Book value per share	-24	-16.9	-6.63	-6.71	-4.77	7.57	2.98	4.04	-1.23	-6.76	-0.1
FCF per share	13.6	12.6	9.74	9.43	6.72	7.46	-0.81	-1.41	-1.36	-1.17	-0.03
Cash per share	3.19	1.97	0.98	1.58	5.43	4.57	2.8	2.48	1.61	1.65	2.67
Capex per share	1.33	0.76	1.1	1.08	1.3	1.31	1.3	0.87	1.55	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.15%	0.72%	1.11%	1.16%	1.31%	0.94%	0.96%	0.74%	1.51%	—	—
Capex / operating cash flow	8.95%	5.64%	10.2%	10.7%	16.8%	20.8%	-53.3%	-43.2%	-43.1%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%
Dividend yield	—	—	—	—	—	—	—	—	—	—	11.2%

Yield

11.2%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.90

ex-dividend Aug 28, 2008

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 28, 2008	$1.90
May 29, 2008	$1.90
Feb 28, 2008	$1.90

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$164M	$155.7M	$146.6M	$150.6M	$158.6M	$144.6M	$137.4M	$141.3M	$139.1M	$130.1M	$122M	$126M
YoY change	-15.3%	-15.9%	-14.1%	-12.1%	-3.31%	-7.14%	-6.26%	-6.17%	-12.3%	-10%	-11.2%	-10.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	17M	10.6M	5.4M	8.6M	33.7M	26.1M	16.2M	14.5M	9.6M	10M
Receivables	51.3M	49.5M	43.7M	42.5M	52.6M	65.1M	69.5M	69.1M	60.6M	54.6M
Inventory	4.3M	3.6M	5.7M	3.8M	7.5M	6.3M	8.3M	7.5M	5.6M	4.7M
Total current assets	77.3M	67.8M	59.3M	60.3M	108.8M	108.8M	109.1M	106.5M	97.8M	89.4M
Property, plant & equipment	234.2M	220.9M	218.3M	170.8M	293.2M	42.1M	26.1M	18.9M	9.1M	-4.2M
Goodwill & intangibles	804.2M	765.5M	732M	715.4M	1B	973.8M	901.8M	849M	796.2M	751.6M
Total assets	662.9M	620.9M	575.4M	555.2M	864.1M	843.6M	744M	711.6M	649.2M	601.7M
Accounts payable	18.1M	17M	12.7M	16.8M	17.2M	20.4M	28.6M	36.3M	36.3M	41.7M
Short-term debt	25.1M	30.2M	7M	3M	22.3M	14.7M	7.9M	7.8M	8.1M	7.3M
Total current liabilities	99M	98.2M	65.3M	61M	144M	141.6M	131.1M	114.3M	115.4M	113.4M
Long-term debt	565.8M	496.4M	460.8M	429.4M	586.9M	534.2M	508.6M	492.3M	475.7M	474.3M
Total liabilities	790.4M	712.1M	611.7M	592M	893.7M	800.3M	726.8M	687.9M	656.5M	642.7M
Shareholders' equity	-127.5M	-91.2M	-36.3M	-36.8M	-29.6M	43.2M	17.2M	23.7M	-7.3M	-41M
Total debt	590.9M	526.6M	467.8M	432.3M	609.2M	548.9M	516.4M	500.1M	483.9M	481.6M
Net debt	573.9M	515.9M	462.4M	423.7M	575.5M	522.8M	500.2M	485.5M	474.3M	471.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	14.5M	15.4M	16.1M	13.4M	9.6M	6.1M	4.7M	14.1M	10M	12.6M	53.3M	59.4M
Receivables	69.1M	68.1M	59.2M	61.2M	60.6M	59.5M	62.3M	57.1M	54.6M	51.1M	45.6M	44.9M
Inventory	7.5M	7.6M	6.7M	6M	5.6M	6.2M	5.6M	5.3M	4.7M	4.8M	5.2M	5.9M
Total current assets	106.5M	105.9M	102M	101.9M	97.8M	92.3M	92.8M	96.9M	89.4M	82.9M	112.5M	121.1M
Property, plant & equipment	18.9M	14.6M	12.7M	16.3M	9.1M	4.9M	2.6M	715K	-4.2M	-6.8M	-10.2M	-12.2M
Goodwill & intangibles	849M	837.3M	812.9M	804.3M	796.2M	780.9M	774M	769.5M	751.6M	748M	744.5M	740.9M
Total assets	711.6M	702.5M	684.8M	677.5M	649.2M	633M	623.9M	622.7M	601.7M	592.6M	618.6M	624.6M
Accounts payable	36.3M	38.5M	31.7M	31.4M	36.3M	44.8M	44.3M	47.5M	41.7M	50.3M	40.9M	45.6M
Short-term debt	7.8M	7.6M	7.4M	10.6M	8.1M	7.8M	7.7M	7.8M	7.3M	7.2M	6.9M	6.6M
Total current liabilities	114.3M	112.6M	109M	110.5M	115.4M	119M	116.3M	117.9M	113.4M	112.3M	98.4M	103.8M
Long-term debt	492.3M	488.3M	486.4M	481.6M	475.7M	472.9M	478.1M	477.8M	474.3M	472.6M	470.6M	468.7M
Total liabilities	687.9M	680.3M	674.4M	671M	656.5M	657.1M	660M	660.8M	642.7M	639M	621.8M	624.6M
Shareholders' equity	23.7M	22.2M	10.4M	6.5M	-7.3M	-24.2M	-36.1M	-38.2M	-41M	-46.4M	-3.2M	39K
Total debt	500.1M	495.9M	493.9M	492.2M	483.9M	480.7M	485.8M	485.6M	481.6M	479.8M	477.5M	475.3M
Net debt	485.5M	480.6M	477.8M	478.8M	474.3M	474.6M	481.1M	471.5M	471.6M	467.2M	424.2M	415.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	36M	28.6M	47M	15.9M	-130K	24.8M	97K	-2.7M	-23.6M	-35.7M
Depreciation & amortization	43.4M	41.3M	31.8M	29.3M	36.1M	42.8M	36.5M	30.6M	27.6M	18.8M
Stock-based compensation	2.3M	2.1M	1.9M	1.6M	1.3M	854K	1.3M	1.8M	1.8M	1.8M
Change in working capital	-4.3M	-6.3M	-7.9M	4.2M	18.3M	-10.7M	-47M	-32M	-12M	-8.3M
Operating cash flow	79.2M	72.3M	59.3M	55.2M	48.1M	35.9M	-14.2M	-11.8M	-21.4M	-5.5M
Capital expenditure	-7.1M	-4.1M	-6M	-5.9M	-8.1M	-7.5M	-7.5M	-5.1M	-9.2M	—
Investing cash flow	32.9M	-9.4M	-1.3M	-10.9M	-117.8M	-3.3M	6.9M	8.6M	3.7M	9.3M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	0
Financing cash flow	-107.9M	-69.2M	-64M	-43M	94M	-55.7M	-20.1M	-6.8M	-9.8M	-1.8M
Net change in cash	4.2M	-6.3M	-5.9M	1.3M	24.3M	-23.1M	-27.3M	-10M	-27.4M	1.9M
Free cash flow	72.1M	68.2M	53.3M	51.8M	41.8M	42.6M	-4.7M	-8.3M	-8.1M	-7.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	-1.3M	1.2M	-11.6M	-3.7M	-9.5M	-16.2M	-12M	-1.7M	-5.8M	-5.1M	-1.7M	5.2M
Depreciation & amortization	7.5M	7.3M	7.3M	6.8M	6.2M	6.3M	5.2M	3.8M	3.6M	3.6M	3.5M	3.5M
Stock-based compensation	422K	214K	501K	474K	562K	430K	358K	540K	429K	328K	213K	181K
Change in working capital	-17.2M	-4M	4.7M	-15.3M	3.5M	216K	-5M	2.2M	-5.8M	4.8M	-10.3M	1.1M
Operating cash flow	-15.3M	-11K	-466K	-12.8M	-8.1M	-10.2M	-4.8M	8.9M	-6.3M	4.5M	-6.2M	7.9M
Capital expenditure	-1.3M	-1M	-1.9M	-3.6M	-2.7M	-1.6M	-1.4M	—	—	—	—	—
Investing cash flow	3.3M	2.1M	-1.9M	359K	3.2M	3.9M	-668K	2.6M	580K	3K	1M	73K
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-4.3M	-1.6M	-517K	-918K	-6.8M	0	0	-1.4M	-406K	-1.1M	-3.6M	-10K
Net change in cash	-16.2M	504K	-2.9M	-13.4M	-11.6M	-6.3M	-5.5M	10.1M	-6.1M	3.4M	-8.8M	8M
Free cash flow	-2.4M	-950K	1.3M	-5.5M	-2.9M	-8.9M	-2.2M	8.3M	-4.3M	3.7M	-6.8M	6.8M

Date	Ratio
Mar 15, 2021	1:10
Dec 11, 1995	2:1
Mar 4, 1986	2:1
Apr 5, 1983	2:1

Lee Enterprises, Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history