Townsquare Media Inc. (TSQ) 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 26	$0.19	$0.21	+10.5%	—	$115.4M	—
Q1 26	-$0.13	-$0.16	-23.1%	—	$96.8M	—
Q4 25	$0.11	$0.05	-54.5%	—	$106.5M	—
Q3 25	$0.03	$0.05	+66.7%	—	$106.8M	—
Q2 25	$0.25	$0.22	-12.0%	—	$115.4M	—
Q1 25	-$0.07	-$0.05	+28.6%	—	$98.7M	—
Q4 24	$0.58	$0.6	+3.4%	—	$117.8M	—
Q3 24	$0.32	$0.35	+9.4%	—	$115.3M	—
Q2 24	$0.42	$0.14	-66.7%	—	$118.2M	—
Q1 24	$0.1	$0.03	-70.0%	—	$99.6M	—
Q4 23	$0.29	$0.34	+17.2%	—	$114.8M	—
Q3 23	$0.33	$0.46	+39.4%	—	$115.1M	—
Q2 23	$0.5	$0.18	-64.0%	—	$121.2M	—
Q1 23	$0.05	$0.08	+60.0%	—	$103.1M	—
Q4 22	$0.49	$0.66	+34.7%	—	$120.3M	—
Q3 22	$0.59	$0.47	-20.3%	—	$120.6M	—

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	—	-$0.71	—	—	$427.4M	—
FY24	—	-$0.81	—	—	$451M	—
FY23	—	-$2.68	—	—	$454.2M	—
FY22	—	$0.73	—	—	$463.1M

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	$421.6M	$389.6M	$407.9M	$431.4M	$371.3M	$418M	$463.1M	$454.2M	$451M	$427.4M
YoY change	-4.45%	-7.59%	+4.69%	+5.77%	-13.9%	+12.6%	+10.8%	-1.91%	-0.72%	-5.23%

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	421.6M	389.6M	407.9M	431.4M	371.3M	418M	463.1M	454.2M	451M	427.4M
Cost of revenue	299.3M	273.7M	286.1M	300.4M	282.3M	288.3M	324.9M	329.2M	326.8M	318.3M
Gross profit	122.2M	115.8M	121.7M	131M	89M	129.7M	138.1M	125M	124.2M	109.1M
Gross margin	29%	29.7%	29.8%	30.4%	24%	31%	29.8%	27.5%	27.5%	25.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4.3M	718K	1.6M	2.6M	2.1M	3.7M	3.8M	8M	17.2M	13.8M
Operating expenses	29.6M	26.5M	28.7M	31.2M	29M	28.3M	28.2M	33.1M	41M	34.8M
Operating income	75.6M	70.9M	73.5M	74M	39.9M	82.3M	90.9M	72.8M	63.5M	55.9M
Operating margin	17.9%	18.2%	18%	17.1%	10.7%	19.7%	19.6%	16%	14.1%	13.1%
Non-operating income, net	-4.5M	-23.9M	-56.3M	-112.2M	-112.9M	-13.3M	-37.2M	-84.7M	-36.9M	-13M
Pretax income	37M	14.3M	-17.1M	-72.1M	-104.4M	29.1M	13.8M	-49.2M	-9.6M	-5M
Income tax	16.1M	-7.5M	30.8M	-14.6M	-23.9M	10.4M	-564K	-6.1M	1.3M	4.7M
Net income	23.3M	-12.9M	-97.3M	-65.7M	-80.6M	18.8M	14.4M	-43M	-10.9M	-9.8M
Net margin	5.53%	-3.3%	-23.9%	-15.2%	-21.7%	4.49%	3.11%	-9.47%	-2.42%	-2.28%
EBITDA	90.9M	88.9M	90.9M	98.4M	60.8M	100.2M	110.5M	102.5M	91.6M	71.1M
EPS	1.27	-0.56	-1.71	-3.8	-4.46	0.9	0.73	-2.68	-0.81	-0.71
Diluted EPS	0.85	-0.56	-1.71	-3.8	-4.46	0.79	0.68	-2.68	-0.81	-0.71

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	115.1M	114.8M	99.6M	118.2M	115.3M	117.8M	98.7M	115.4M	106.8M	106.5M	96.8M	115.4M
Cost of revenue	81.3M	83.9M	76.9M	85.5M	83.8M	80.6M	75.8M	82.8M	78.8M	80.9M	75.6M	84.5M
Gross profit	33.8M	30.9M	22.7M	32.7M	31.5M	37.2M	22.9M	32.6M	28M	25.6M	21.2M	30.8M
Gross margin	29.3%	26.9%	22.8%	27.7%	27.3%	31.6%	23.2%	28.3%	26.2%	24.1%	21.9%	26.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.4M	1.8M	2.9M	8.3M	2.9M	3.1M	4.2M	3.8M	3.1M	2.7M	3.7M	3.3M
Operating expenses	9M	7.9M	8.1M	14.8M	8.9M	9.2M	8.9M	10M	9.1M	6.8M	8.6M	9.4M
Operating income	20.1M	18.3M	9.7M	12.9M	17.6M	23.3M	9.5M	18.1M	14.3M	14M	8M	16.7M
Operating margin	17.5%	15.9%	9.75%	10.9%	15.3%	19.8%	9.66%	15.7%	13.4%	13.2%	8.22%	14.5%
Non-operating income, net	-29.8M	-26.6M	1.1M	-33.7M	-2.3M	-2M	-3.8M	2.9M	-8.3M	-3.8M	-9.3M	-29M
Pretax income	-19M	-17.4M	1.8M	-30M	6.2M	12.4M	-4.5M	8.3M	-6.6M	-2.2M	-12.7M	-23.8M
Income tax	17.5M	-15.5M	207K	18.8M	-5.1M	-12.6M	-3M	6.3M	-1.1M	2.5M	-15.7M	18M
Net income	-36.5M	-1.9M	1.6M	-48.9M	11.3M	25M	-1.5M	2M	-5.5M	-4.8M	3M	-41.8M
Net margin	-31.7%	-1.64%	1.56%	-41.3%	9.83%	21.3%	-1.53%	1.74%	-5.15%	-4.46%	3.06%	-36.2%
EBITDA	26.4M	23.7M	20M	19.3M	23.5M	28.8M	13.6M	21.7M	17.9M	18M	11.8M	20.6M
EPS	-2.27	—	0.07	-3.26	0.71	1.59	-0.12	0.1	-0.36	-0.32	0.17	-2.36
Diluted EPS	-2.27	—	0.06	-3.26	0.63	1.42	-0.12	0.09	-0.36	-0.32	0.16	-2.36

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	190M	141.8M	75.4M	184.9M	124.2M	224.4M	123.2M	177M	141.8M	83.2M	84M
Enterprise value	709.7M	645.7M	570.2M	709.6M	636.6M	761.6M	658.3M	666.4M	627.8M	561.2M	580M
Shares outstanding	18.3M	18.5M	18.5M	18.5M	18.6M	16.8M	17M	16.8M	15.6M	16.2M	16.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	8.16	—	—	—	—	11.9	8.56	—	—	—	4.47
P/S	0.45	0.36	0.18	0.43	0.33	0.54	0.27	0.39	0.31	0.19	0.21
P/B	0.49	0.37	0.3	1.01	1.23	4.53	1.78	17.9	-4.99	-2.03	-1.05
EV/EBITDA	7.81	7.26	6.27	7.21	10.5	7.6	5.96	6.5	6.85	7.89	8.07
EV/Sales	1.68	1.66	1.4	1.64	1.71	1.82	1.42	1.47	1.39	1.31	1.36
Earnings yield	12.3%	—	—	—	—	8.37%	11.7%	—	—	—	22.3%
FCF yield	22.8%	25%	22.2%	10.6%	13.1%	21.7%	23.8%	29.9%	22.1%	18.5%	34.6%
PEG	—	—	—	—	—	—	—	—	—	—	-0

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	29%	29.7%	29.8%	30.4%	24%	31%	29.8%	27.5%	27.5%	25.5%	26.7%
Operating margin	17.9%	18.2%	18%	17.1%	10.7%	19.7%	19.6%	16%	14.1%	13.1%	14.5%
Net margin	5.53%	-3.3%	-23.9%	-15.2%	-21.7%	4.49%	3.11%	-9.47%	-2.42%	-2.28%	-11.8%
ROE	5.97%	-3.38%	-38.1%	-36%	-79.9%	37.9%	20.8%	-434.1%	38.4%	23.8%	28.1%
ROA	2.16%	-1.22%	-10.4%	-7.46%	-10.5%	2.59%	1.93%	-6.6%	-1.88%	-1.84%	6.37%
ROIC	4.68%	8.01%	9.79%	10.5%	6.51%	9.04%	15%	14.6%	13.9%	12.8%	13%
Return on tangible assets	-4.37%	3.08%	26.1%	31%	73.4%	-12.9%	-10.9%	68.2%	22%	12.7%	133.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.88	1.89	2.41	2.25	2.35	1.58	1.68	1.74	1.38	0.84	0.93
Quick ratio	1.88	1.89	2.41	2.25	2.35	1.58	1.68	1.74	1.38	0.84	0.93
Debt / equity	1.46	1.48	2.17	3.34	5.91	11.9	8.38	55.5	-18.2	-11.8	-0.06
Debt / assets	0.53	0.53	0.59	0.69	0.78	0.81	0.78	0.84	0.89	0.91	0.99
Net debt / EBITDA	5.72	5.67	5.45	5.33	8.42	5.36	4.84	4.78	5.3	6.72	7.13
Interest coverage	2.15	1.44	0.48	-1.15	-2.32	1.76	1.36	-0.33	0.72	0.88	-0.06
Effective tax rate	43.6%	0%	0%	0%	0%	35.5%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	23.1	21.1	22.1	23.3	19.9	24.8	27.3	27.1	28.9	26.4	25.3
EPS (basic)	1.27	-0.56	-1.71	-3.8	-4.46	0.9	0.73	-2.68	-0.81	-0.71	-0.71
EPS (diluted)	0.85	-0.56	-1.71	-3.8	-4.46	0.79	0.68	-2.68	-0.81	-0.71	-2.94
Book value per share	21.4	20.6	13.8	9.84	5.4	2.95	4.07	0.59	-1.82	-2.53	-2.25
FCF per share	2.37	1.92	0.9	1.05	0.87	2.89	1.73	3.15	2.01	0.95	0.8
Cash per share	2.82	3.32	3.28	4.56	4.46	3	2.56	3.64	2.11	0.29	0.06
Capex per share	0.82	0.85	0.98	1.06	0.8	0.74	0.93	0.89	1.12	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.57%	4.05%	4.44%	4.56%	4.03%	2.97%	3.42%	3.3%	3.87%	—	—
Capex / operating cash flow	30.6%	76%	-108.3%	-26.3%	-16.4%	44.7%	66%	-64.4%	81%	—	—
Payout ratio	0%	0%	-6.35%	-12.6%	-5.22%	0.32%	0%	-21.7%	-112.7%	-135.4%	67.4%
Dividend yield	0%	0%	8.2%	4.48%	3.38%	0.03%	0%	5.28%	8.68%	15.9%	17.2%

Yield

17.2%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.20

ex-dividend Jul 27, 2026

Payout ratio

67%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Jul 27, 2026	$0.20
Apr 27, 2026	$0.20
Jan 26, 2026	$0.20
Oct 27, 2025	$0.20
Jul 18, 2025	$0.20
Apr 17, 2025	$0.20
Jan 21, 2025	$0.1975
Oct 15, 2024	$0.1975

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$115.1M	$114.8M	$99.6M	$118.2M	$115.3M	$117.8M	$98.7M	$115.4M	$106.8M	$106.5M	$96.8M	$115.4M
YoY change	-4.58%	-4.56%	-3.37%	-2.48%	+0.18%	+2.64%	-0.96%	-2.35%	-7.42%	-9.6%	-1.92%	-0.08%

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	51.5M	61.2M	60.5M	84.7M	83.2M	50.5M	43.4M	61M	33M	4.8M
Receivables	59.6M	61.6M	62.6M	67.5M	58.6M	57.6M	61.2M	60.8M	60.6M	52M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	122.6M	138.4M	153.9M	161.4M	154.3M	120.2M	120.7M	132.2M	105.4M	69.4M
Property, plant & equipment	102.9M	63.5M	66.9M	112.6M	105.7M	94.5M	107.4M	98.8M	99.1M	94.4M
Goodwill & intangibles	1.6B	1.5B	1.3B	1.1B	878.2M	872.4M	876.4M	715.2M	630.1M	605.3M
Total assets	1.1B	1.1B	936.6M	880.4M	768.5M	726.3M	744.5M	652M	580.4M	528.6M
Accounts payable	10.6M	13.4M	12.8M	14.8M	9.1M	5.7M	4.1M	5M	4.5M	6.9M
Short-term debt	6.9M	9.5M	5K	17.6M	7.5M	7.4M	9M	9.4M	9M	19.4M
Total current liabilities	65.2M	73.3M	63.9M	71.6M	65.8M	76M	71.7M	76.1M	76.3M	82.2M
Long-term debt	564.3M	555.6M	555.3M	591.7M	588.1M	580.3M	569.5M	541.1M	509.9M	463.3M
Total liabilities	690.7M	675.3M	681.1M	698M	667.7M	676.7M	675.4M	642.1M	608.9M	569.6M
Shareholders' equity	390.1M	381.1M	255.5M	182.4M	100.8M	49.6M	69.1M	9.9M	-28.4M	-41M
Total debt	571.2M	565.1M	555.3M	609.3M	595.6M	587.7M	578.6M	550.5M	519M	482.8M
Net debt	519.7M	503.9M	494.8M	524.7M	512.4M	537.2M	535.1M	489.4M	486M	478M

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	38M	61M	56.6M	28.5M	21.8M	33M	5.5M	3.2M	3.2M	4.8M	2.2M	1.2M
Receivables	63.5M	60.8M	53.9M	60.5M	57.7M	60.6M	51.6M	59.8M	55.5M	52M	49.1M	60.3M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	113.3M	132.2M	121.3M	100.9M	92.2M	105.4M	70.9M	76.9M	72.2M	69.4M	66.1M	75M
Property, plant & equipment	100.4M	98.8M	97.7M	94.7M	93.5M	99.1M	98.1M	95.3M	96.5M	94.4M	93.8M	92M
Goodwill & intangibles	758.9M	715.2M	708.9M	643.1M	636.2M	630.1M	628.3M	623.5M	615.7M	605.3M	586.4M	531.4M
Total assets	657.3M	652M	636.7M	579.6M	565.4M	580.4M	544.5M	545.7M	539.2M	528.6M	516.1M	494.7M
Accounts payable	4.8M	5M	4.5M	4.7M	3.8M	4.5M	7.4M	9.9M	9M	6.9M	7.1M	9.4M
Short-term debt	9M	9.4M	9.5M	9.5M	9.5M	9M	20.3M	19.9M	20M	19.4M	19.5M	20.1M
Total current liabilities	64M	76.1M	69.3M	74.4M	66.9M	76.3M	72.6M	78.6M	81.7M	82.2M	80.1M	80.6M
Long-term debt	541.4M	541.1M	541.2M	527.1M	514.9M	509.9M	479.9M	470.2M	469.3M	463.3M	464.4M	468M
Total liabilities	644.9M	642.1M	634.9M	643.8M	617.9M	608.9M	571.3M	572.8M	573.2M	569.6M	552.3M	573.9M
Shareholders' equity	12.4M	9.9M	1.8M	-64.1M	-52.5M	-28.4M	-26.8M	-27.1M	-34M	-41M	-36.2M	-79.2M
Total debt	550.5M	550.5M	550.7M	536.6M	524.3M	519M	500.2M	490.1M	489.3M	482.8M	483.9M	488.2M
Net debt	512.5M	489.4M	494.1M	508.1M	502.6M	486M	494.7M	486.9M	486.1M	478M	481.7M	487M

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	20.8M	21.8M	-48M	-57.5M	-80.6M	18.8M	14.4M	-43M	-10.9M	-9.8M
Depreciation & amortization	17.1M	18.4M	19.6M	25.8M	20.1M	19.1M	23.4M	24.1M	24.6M	19.9M
Stock-based compensation	4.3M	718K	1.5M	2.6M	2.1M	3.7M	3.8M	8M	17.2M	13.8M
Change in working capital	-434K	-1.9M	-8.9M	-21.2M	-10K	-14.2M	-9.2M	-2.9M	-5.8M	5.8M
Operating cash flow	49.2M	20.8M	-16.7M	-74.9M	-90.9M	27.8M	24M	-23.3M	21.5M	30.6M
Capital expenditure	-15M	-15.8M	-18.1M	-19.7M	-14.9M	-12.4M	-15.8M	-15M	-17.4M	—
Investing cash flow	-14.4M	-21.2M	-41.1M	-17M	-13.8M	-9.9M	-32.8M	-6.5M	-9.9M	10.8M
Dividends paid	0	0	-6.2M	-8.3M	-4.2M	-60K	0	-9.3M	-12.3M	-13.2M
Share repurchases	—	0	0	-400K	0	-1.4M	-225K	-16.6M	-23.6M	0
Financing cash flow	-19.6M	-7.7M	-18M	-10.3M	-68.9M	-95.1M	-21.1M	-54.1M	-76M	-71.8M
Net change in cash	15.1M	-8.1M	-75.8M	-102.2M	-173.6M	-77.3M	-29.8M	-83.9M	-64.4M	-30.4M
Free cash flow	43.3M	35.4M	16.7M	19.5M	16.3M	48.7M	29.4M	52.8M	31.3M	15.4M

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	-1.9M	—	—	—	—	—	—	-5.5M	-4.8M	3M	-41.8M
Depreciation & amortization	—	5.9M	—	—	—	—	—	—	5M	5.2M	5.1M	5.2M
Stock-based compensation	—	1.8M	—	—	—	—	—	—	3.1M	2.7M	3.7M	3.3M
Change in working capital	—	-537K	—	—	—	—	—	—	2.8M	-1.8M	2.3M	-9.5M
Operating cash flow	—	-8.7M	—	—	—	—	—	—	7.9M	12.6M	4.2M	3.6M
Capital expenditure	—	-3.6M	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	-3.2M	—	—	—	—	—	—	2.1M	2.3M	746K	150K
Dividends paid	—	-3.1M	—	—	—	—	—	—	-3.3M	-3.4M	-3.7M	-3.6M
Share repurchases	—	0	—	—	—	—	—	—	0	0	-2.9M	—
Financing cash flow	—	-3.9M	—	—	—	—	—	—	-24.8M	-13.2M	-3.9M	-4.5M
Net change in cash	—	-15.7M	—	—	—	—	—	—	-14.9M	1.7M	1M	-801K
Free cash flow	—	25.3M	—	—	—	—	—	—	4.3M	9.2M	558K	184K

Townsquare Media Inc. 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