NasdaqGS:EMMS

Stock Analysis Report

Executive Summary

Emmis Communications Corporation, a diversified media company, engages in the radio broadcasting activities in the United States.


Snowflake Analysis

Mediocre balance sheet and overvalued.


Similar Companies

Share Price & News

How has Emmis Communications's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EMMS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

EMMS

-1.2%

US Media

-1.1%

US Market


1 Year Return

-3.8%

EMMS

17.4%

US Media

17.8%

US Market

Return vs Industry: EMMS underperformed the US Media industry which returned 17.4% over the past year.

Return vs Market: EMMS underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

EMMSIndustryMarket
7 Day0%-1.2%-1.1%
30 Day-3.1%2.1%1.5%
90 Day-16.3%5.3%6.6%
1 Year2.4%-3.8%18.9%17.4%20.2%17.8%
3 Year42.4%33.8%15.7%10.9%47.5%38.1%
5 Year-51.2%-54.1%32.7%22.2%71.2%52.4%

Price Volatility Vs. Market

How volatile is Emmis Communications's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Emmis Communications undervalued compared to its fair value and its price relative to the market?

0.37x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate EMMS's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate EMMS's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: EMMS is unprofitable, so we can't compare its PE Ratio to the Media industry average.

PE vs Market: EMMS is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EMMS's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EMMS is good value based on its PB Ratio (0.4x) compared to the US Media industry average (1.3x).


Next Steps

Future Growth

How is Emmis Communications forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.5%

Forecasted Media industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Emmis Communications has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Emmis Communications performed over the past 5 years?

47.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EMMS is currently unprofitable.

Growing Profit Margin: EMMS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: EMMS is unprofitable, but has reduced losses over the past 5 years at a rate of 47.6% per year.

Accelerating Growth: Unable to compare EMMS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: EMMS is unprofitable, making it difficult to compare its past year earnings growth to the Media industry (1%).


Return on Equity

High ROE: EMMS has a negative Return on Equity (0.79%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Emmis Communications's financial position?


Financial Position Analysis

Short Term Liabilities: EMMS's short term assets ($130.8M) exceed its short term liabilities ($41.3M).

Long Term Liabilities: EMMS's short term assets ($130.8M) exceed its long term liabilities ($85.6M).


Debt to Equity History and Analysis

Debt Level: EMMS's debt to equity ratio (55.4%) is considered high.

Reducing Debt: EMMS's debt to equity ratio has reduced from 281.8% to 55.4% over the past 5 years.


Balance Sheet

Inventory Level: EMMS has a low level of unsold assets or inventory.

Debt Coverage by Assets: EMMS's debt is covered by short term assets (assets are 2.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: EMMS has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: EMMS has been profitable on average in the past, therefore cash runway is not a concern.


Next Steps

Dividend

What is Emmis Communications's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate EMMS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate EMMS's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if EMMS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if EMMS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of EMMS's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.5yrs

Average management tenure


CEO

Jeff Smulyan (72yo)

39.1yrs

Tenure

US$2,559,160

Compensation

Mr. Jeffrey H. Smulyan, also known as Jeff, J.D., serves as an Operating Partner at Catalyst Investors. Mr. Smulyan founded Emmis Communications Corporation in 1979 and has been its Executive Chairman and  ...


CEO Compensation Analysis

Compensation vs Market: Jeff's total compensation ($USD2.56M) is above average for companies of similar size in the US market ($USD521.92K).

Compensation vs Earnings: Jeff's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Jeffrey Smulyan
Chairman of the Board39.1yrsUS$2.56m9.46% $4.8m
Patrick Walsh
President11.2yrsUS$653.36k1.57% $791.3k
Ryan Hornaday
Executive VP4.5yrsUS$737.14k0.74% $374.6k
Kate Snedeker
Media & Investor Relations Contact0yrsno datano data
J. Enright
Executive VP10.9yrsUS$592.97k0.51% $258.7k
Chase Rupe
Senior Vice President of Strategy & Corporate Development0.7yrsno datano data
Traci Thomson
Senior Vice President of Human Resources0yrsno datano data
Charlie Morgan
New York Market Manager & Senior VP2.3yrsno datano data
Gregory Loewen
President of Publishing Division & Chief Strategy Officer9.9yrsUS$677.73k0.87% $441.4k
Keith Phillips
Indianapolis Monthly Publisher & President2.3yrsno datano data

4.5yrs

Average Tenure

54yo

Average Age

Experienced Management: EMMS's management team is considered experienced (4.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jeffrey Smulyan
Chairman of the Board39.1yrsUS$2.56m9.46% $4.8m
Patrick Walsh
President11.2yrsUS$653.36k1.57% $791.3k
Lawrence Sorrel
Independent Director27.1yrsUS$109.82k1.04% $528.1k
Greg Nathanson
Independent Director22.1yrsUS$99.82k1.17% $589.2k
Gary Kaseff
Director26.1yrsUS$89.82k0.48% $243.2k
James Dubin
Independent Director7.3yrsUS$119.82k0.19% $96.9k
Peter Lund
Independent Director18.1yrsUS$114.82k1.03% $520.8k
Richard Leventhal
Lead Director8.9yrsUS$122.82k0.69% $347.2k
Susan Bayh
Independent Director26.1yrsUS$112.82k0.27% $137.5k

22.1yrs

Average Tenure

72yo

Average Age

Experienced Board: EMMS's board of directors are seasoned and experienced ( 22.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.3%.


Top Shareholders

Company Information

Emmis Communications Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Emmis Communications Corporation
  • Ticker: EMMS
  • Exchange: NasdaqGS
  • Founded: 1981
  • Industry: Broadcasting
  • Sector: Media
  • Market Cap: US$50.550m
  • Shares outstanding: 13.30m
  • Website: https://www.emmis.com

Number of Employees


Location

  • Emmis Communications Corporation
  • One Emmis Plaza
  • Suite 700
  • Indianapolis
  • Indiana
  • 46204
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EMMSNasdaqGS (Nasdaq Global Select)YesClass A Common StockUSUSDFeb 1994
EC21DB (Deutsche Boerse AG)YesClass A Common StockDEEURFeb 1994

Biography

Emmis Communications Corporation, a diversified media company, engages in the radio broadcasting activities in the United States. It operates 11 FM and 3 AM radio stations in New York, Indianapolis, and Austin, as well as publishes Indianapolis monthly magazine. The company also develops and licenses TagStation; NextRadio, a smartphone application that marries over-the-air FM radio broadcasts with visual and interactive features on smartphones; and DialReport, a data attribution platform for the radio industry, as well as offers dynamic pricing solutions. Emmis Communications Corporation was founded in 1981 and is headquartered in Indianapolis, Indiana. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 00:01
End of Day Share Price2020/02/21 00:00
Earnings2019/11/30
Annual Earnings2019/02/28


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.