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SALEM MEDIA GROUP INC (SALM) Stock Fundamental Analysis

USA - NASDAQ:SALM - US7940931048 - Common Stock

0.2609 USD
-0.04 (-13.06%)
Last: 1/18/2024, 8:22:51 PM
0.26 USD
0 (-0.34%)
After Hours: 1/18/2024, 8:22:51 PM
Fundamental Rating

1

We assign a fundamental rating of 1 out of 10 to SALM. SALM was compared to 100 industry peers in the Media industry. Both the profitability and financial health of SALM have multiple concerns. SALM has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

SALM had negative earnings in the past year.
SALM had a negative operating cash flow in the past year.
In the past 5 years SALM reported 4 times negative net income.
SALM had a positive operating cash flow in each of the past 5 years.
SALM Yearly Net Income VS EBIT VS OCF VS FCFSALM Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 20M -20M 40M -40M

1.2 Ratios

With a Return On Assets value of -9.71%, SALM is not doing good in the industry: 74.74% of the companies in the same industry are doing better.
SALM's Return On Equity of -34.61% is on the low side compared to the rest of the industry. SALM is outperformed by 73.68% of its industry peers.
Looking at the Return On Invested Capital, with a value of 0.02%, SALM is doing worse than 67.37% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for SALM is significantly below the industry average of 8.87%.
Industry RankSector Rank
ROA -9.71%
ROE -34.61%
ROIC 0.02%
ROA(3y)-0.97%
ROA(5y)-1.69%
ROE(3y)-6.17%
ROE(5y)-6.92%
ROIC(3y)3.01%
ROIC(5y)3.18%
SALM Yearly ROA, ROE, ROICSALM Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 0 20 -20

1.3 Margins

With a Operating Margin value of 0.04%, SALM is not doing good in the industry: 67.37% of the companies in the same industry are doing better.
In the last couple of years the Operating Margin of SALM has declined.
Looking at the Gross Margin, with a value of 12.12%, SALM is doing worse than 86.32% of the companies in the same industry.
In the last couple of years the Gross Margin of SALM has declined.
Industry RankSector Rank
OM 0.04%
PM (TTM) N/A
GM 12.12%
OM growth 3Y-8.13%
OM growth 5Y-10.21%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.42%
GM growth 5Y-4.99%
SALM Yearly Profit, Operating, Gross MarginsSALM Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 0 10 -10 20 -20

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1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SALM is destroying value.
SALM has about the same amout of shares outstanding than it did 1 year ago.
Compared to 1 year ago, SALM has an improved debt to assets ratio.
SALM Yearly Shares OutstandingSALM Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 5M 10M 15M 20M 25M
SALM Yearly Total Debt VS Total AssetsSALM Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 100M 200M 300M 400M 500M

2.2 Solvency

SALM has an Altman-Z score of 0.25. This is a bad value and indicates that SALM is not financially healthy and even has some risk of bankruptcy.
SALM's Altman-Z score of 0.25 is on the low side compared to the rest of the industry. SALM is outperformed by 73.68% of its industry peers.
A Debt/Equity ratio of 1.15 is on the high side and indicates that SALM has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.15, SALM is doing worse than 68.42% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.15
Debt/FCF N/A
Altman-Z 0.25
ROIC/WACC0
WACC6.08%
SALM Yearly LT Debt VS Equity VS FCFSALM Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 50M 100M 150M 200M 250M

2.3 Liquidity

A Current Ratio of 0.66 indicates that SALM may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.66, SALM is doing worse than 91.58% of the companies in the same industry.
A Quick Ratio of 0.64 indicates that SALM may have some problems paying its short term obligations.
SALM has a worse Quick ratio (0.64) than 91.58% of its industry peers.
Industry RankSector Rank
Current Ratio 0.66
Quick Ratio 0.64
SALM Yearly Current Assets VS Current LiabilitesSALM Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M

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3

3. Growth

3.1 Past

SALM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -400.00%.
The Revenue has decreased by -2.14% in the past year.
Measured over the past years, SALM shows a small growth in Revenue. The Revenue has been growing by 0.25% on average per year.
EPS 1Y (TTM)-400%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-161.36%
Revenue 1Y (TTM)-2.14%
Revenue growth 3Y1.69%
Revenue growth 5Y0.25%
Sales Q2Q%-5.03%

3.2 Future

The Earnings Per Share is expected to grow by 38.62% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 3.05% on average over the next years.
EPS Next Y-1178.92%
EPS Next 2Y38.62%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-3.18%
Revenue Next 2Y3.05%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
SALM Yearly Revenue VS EstimatesSALM Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
SALM Yearly EPS VS EstimatesSALM Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1 -1 -2

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1

4. Valuation

4.1 Price/Earnings Ratio

SALM reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for SALM. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
SALM Price Earnings VS Forward Price EarningsSALM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40

4.2 Price Multiples

SALM's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.36
SALM Per share dataSALM EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5

4.3 Compensation for Growth

A more expensive valuation may be justified as SALM's earnings are expected to grow with 38.62% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y38.62%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

SALM does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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SALEM MEDIA GROUP INC

NASDAQ:SALM (1/18/2024, 8:22:51 PM)

After market: 0.26 0 (-0.34%)

0.2609

-0.04 (-13.06%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)11-13 2023-11-13/amc
Earnings (Next)03-06 2024-03-06/amc
Inst Owners0.13%
Inst Owner Change-31.43%
Ins Owners1.34%
Ins Owner Change0%
Market Cap7.10M
Analysts85
Price Target4.34 (1563.47%)
Short Float %0.05%
Short Ratio0.03
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1274.11%
Min EPS beat(2)-2405.45%
Max EPS beat(2)-142.76%
EPS beat(4)0
Avg EPS beat(4)-683.64%
Min EPS beat(4)-2405.45%
Max EPS beat(4)-51.04%
EPS beat(8)3
Avg EPS beat(8)-219.72%
EPS beat(12)7
Avg EPS beat(12)-83.66%
EPS beat(16)9
Avg EPS beat(16)-578.39%
Revenue beat(2)0
Avg Revenue beat(2)-2.35%
Min Revenue beat(2)-4.57%
Max Revenue beat(2)-0.13%
Revenue beat(4)2
Avg Revenue beat(4)-0.82%
Min Revenue beat(4)-4.57%
Max Revenue beat(4)1.18%
Revenue beat(8)3
Avg Revenue beat(8)-0.96%
Revenue beat(12)7
Avg Revenue beat(12)0.16%
Revenue beat(16)8
Avg Revenue beat(16)-0.05%
PT rev (1m)25.93%
PT rev (3m)25.93%
EPS NQ rev (1m)13.04%
EPS NQ rev (3m)-400%
EPS NY rev (1m)2.98%
EPS NY rev (3m)-232.65%
Revenue NQ rev (1m)17.1%
Revenue NQ rev (3m)8.39%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)-2.38%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.03
P/FCF N/A
P/OCF N/A
P/B 0.05
P/tB N/A
EV/EBITDA 13.36
EPS(TTM)-1.68
EYN/A
EPS(NY)-0.01
Fwd EYN/A
FCF(TTM)-0.57
FCFYN/A
OCF(TTM)-0.14
OCFYN/A
SpS9.61
BVpS4.86
TBVpS-5.7
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -9.71%
ROE -34.61%
ROCE 0.03%
ROIC 0.02%
ROICexc 0.02%
ROICexgc 0.08%
OM 0.04%
PM (TTM) N/A
GM 12.12%
FCFM N/A
ROA(3y)-0.97%
ROA(5y)-1.69%
ROE(3y)-6.17%
ROE(5y)-6.92%
ROIC(3y)3.01%
ROIC(5y)3.18%
ROICexc(3y)3.03%
ROICexc(5y)3.19%
ROICexgc(3y)12%
ROICexgc(5y)13.7%
ROCE(3y)3.81%
ROCE(5y)4.03%
ROICexcg growth 3Y0.14%
ROICexcg growth 5Y-10.06%
ROICexc growth 3Y-2.2%
ROICexc growth 5Y-6.56%
OM growth 3Y-8.13%
OM growth 5Y-10.21%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.42%
GM growth 5Y-4.99%
F-Score2
Asset Turnover0.55
Health
Industry RankSector Rank
Debt/Equity 1.15
Debt/FCF N/A
Debt/EBITDA 11.3
Cap/Depr 87.01%
Cap/Sales 4.46%
Interest Coverage 0.01
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.66
Quick Ratio 0.64
Altman-Z 0.25
F-Score2
WACC6.08%
ROIC/WACC0
Cap/Depr(3y)77.42%
Cap/Depr(5y)66.48%
Cap/Sales(3y)3.87%
Cap/Sales(5y)3.64%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-400%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-161.36%
EPS Next Y-1178.92%
EPS Next 2Y38.62%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-2.14%
Revenue growth 3Y1.69%
Revenue growth 5Y0.25%
Sales Q2Q%-5.03%
Revenue Next Year-3.18%
Revenue Next 2Y3.05%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-99.46%
EBIT growth 3Y-6.58%
EBIT growth 5Y-9.98%
EBIT Next Year73.63%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-348.55%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-125.95%
OCF growth 3Y-23.08%
OCF growth 5Y-22.3%