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SALEM MEDIA GROUP INC (SALM) Stock Fundamental Analysis

NASDAQ:SALM - Nasdaq - US7940931048 - Common Stock - Currency: USD

0.2609  -0.04 (-13.06%)

After market: 0.26 0 (-0.34%)

Fundamental Rating

1

We assign a fundamental rating of 1 out of 10 to SALM. SALM was compared to 97 industry peers in the Media industry. SALM may be in some trouble as it scores bad on both profitability and health. SALM does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year SALM has reported negative net income.
SALM had a negative operating cash flow in the past year.
SALM had negative earnings in 4 of the past 5 years.
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

The Return On Assets of SALM (-9.71%) is worse than 74.74% of its industry peers.
Looking at the Return On Equity, with a value of -34.61%, SALM is doing worse than 73.68% of the companies in the same industry.
The Return On Invested Capital of SALM (0.02%) is worse than 67.37% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SALM is below the industry average of 7.56%.
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

The Operating Margin of SALM (0.04%) is worse than 67.37% of its industry peers.
SALM's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 12.12%, SALM is not doing good in the industry: 86.32% of the companies in the same industry are doing better.
SALM's Gross Margin has declined in the last couple of years.
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.
Compared to 1 year ago, SALM has about the same amount of shares outstanding.
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.
SALM has a Debt/Equity ratio of 1.15. This is a high value indicating a heavy dependency on external financing.
SALM has a worse Debt to Equity ratio (1.15) than 68.42% of its industry peers.
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

SALM has a Current Ratio of 0.66. This is a bad value and indicates that SALM is not financially healthy enough and could expect problems in meeting 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.
SALM has a Quick Ratio of 0.66. This is a bad value and indicates that SALM is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of SALM (0.64) is worse 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%.
SALM shows a decrease in Revenue. In the last year, the revenue decreased by -2.14%.
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

SALM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 38.62% yearly.
SALM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.05% yearly.
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

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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.
Also next year SALM is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SALM is on the same level as its industry peers.
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 SectorCommunication Services
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-5.05%
Ins Owners1.34%
Ins Owner Change0%
Market Cap7.10M
Analysts85
Price Target4.34 (1563.47%)
Short Float %0.14%
Short Ratio0.07
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%