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Lamar Advertising Co cash flow statement

In fiscal 2025, Lamar Advertising Co's operations generated $864m of cash; it spent $181m on capital projects, leaving free cash flow of $683m. It returned $656m in dividends and $158m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations522507565631570734782784874864907
Depreciation and amortisation205211225250251271349293463326337
Stock-based pay2910293019372323453430
Capital spending10810911814162126167178125181189
Free cash flow414398447490508608615605748683718
Free cash flow after stock pay386388418460489571591583704649688
Dividends paid294244443385252405509511579656666
Share buybacks694910611651586
Shares issued2327634411191916211822

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Lamar Advertising Co's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lamar Advertising Co.