Q3 2026 Revenue up 9% year over year to $511M · 13¢ of every $1 of revenue kept as net profit · operating margin 20.1%
Outfront Media made $511M in Q3 2026 (+9% Y/Y). Operating margin 20.1%, net earnings $65.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Revenue$511M
Year over year+9%
Operating margin20.1%
Net earnings$65.1M
Operating cash flow$128M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $511.1M in Q3 2026, up 9% year over year and down 2% from the previous quarter.
Operating profit was $102.8M, a 20.1% margin (up 0.9 points year over year). Of the extra revenue versus Q3 2025, 30% reached operating profit, above the 19% margin then. Total costs grew 8% against revenue growth of 9%. The fastest-growing cost line was SG&A (+23%). Net earnings were $64.8M, up 26% year over year. The effective tax rate was 2.0%.
Operating cash flow was $127.9M (up 44% year over year), 196% of net earnings. Non-cash charges added back $37.8M of depreciation and amortization and $6.6M of share-based compensation. Working capital and other items added $18.4M. Capital expenditures of $19.4M left free cash flow of $108.5M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 6, 2026
$511M
+9%
20.1%
$65.1M
$128M
Q2 2026
10-Q
Aug 6, 2026
$522M
+14%
22.2%
$77.7M
$108M
Q1 2026
10-Q
May 8, 2026
$430M
+10%
13.0%
$19.3M
$75.3M
Q4 2025
10-K
Feb 26, 2026
$513M
+4%
26.0%
$96.8M
$118M
Q3 2025
10-Q
Nov 7, 2025
$468M
+4%
19.2%
$51.4M
$88.8M
Q2 2025
10-Q
Aug 6, 2025
$460M
-4%
12.2%
$19.5M
$67.1M
Q1 2025
10-Q
May 9, 2025
$391M
-4%
3.6%
−$20.7M
$33.6M
Charts
Latest (Q3 2026): Y/Y +9%, Q/Q -2%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income $65.1M, Operating cash flow $128M.+17.3% since FY2020: more shares outstanding (issuance, stock pay).Cash $99.9M, short-term investments —, long-term debt — at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
OUTFRONT Media is a real estate investment trust (“REIT”) that provides advertising space (“displays”) on out-of-home advertising structures and sites in the United States (the “U.S.”), enabling advertisers to engage with audiences in high-impact in-real-life (“IRL”) moments and environments. We are one of the largest providers of advertising space on out-of-home advertising structures and sites across the U.S. Our inventory consists of billboard displays primarily located on the most heavily traveled highways and roadways in top Nielsen Designated Market Areas (“DMAs”), and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S. In total, we have displays in approximately 120 markets across the U.S., including the 25 largest markets in the U.S.
In its own words, from its 10-K, filed Feb 26, 2026.
Outfront Media against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +9% against the peers' median +11%. Operating margin: 20.1% against the peers' median 20.1%.