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Companies / Real Estate / Lamar Advertising Company
LAMR

Lamar Advertising Company

Ticker LAMRBATON ROUGE, LAFiscal year ends DecemberBook value per share $9.67Diluted shares 101.5M

Lamar Advertising Company (Nasdaq: LAMR) sells outdoor advertising space on billboards, highway logo signs and transit displays, serving advertisers with placement, creative production and maintenance services. Its billboard inventory includes traditional and digital displays; logo signs direct motorists to nearby… From the company’s description.

In fiscal 2025, Lamar Advertising Company reported revenue of $2.27B, up 2.7% from fiscal 2024, and net income of $593.07M. Its operating margin was 34.2%, and operations generated $864.05M in cash. Over the twelve months to Jun 30, 2026, revenue was $2.33B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$2.27BFY2025
+2.7% year over year
Last 12 mo $2.33B
34.16%FY2025
+10.1 percentage points
Last 12 mo 31.78%
$593.07MFY2025
+63.4% year over year
Last 12 mo $565.31M
58.04%FY2025
+23.5 percentage points
Last 12 mo 56.62%
Cash & financing
$864.05MFY2025
−1.1% year over year
Last 12 mo $906.62M
$683.25MFY2025
−8.7% year over year
Last 12 mo $718.05M
3.39FY2025
Was 3.08× a year earlier
Last 12 mo 3.59
101.6MFY2025
−0.9% year over year
Last 12 mo 101.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Lamar Advertising Company does

In the company’s own words

Lamar Advertising Company (Nasdaq: LAMR) sells outdoor advertising space on billboards, highway logo signs and transit displays, serving advertisers with placement, creative production and maintenance services. Its billboard inventory includes traditional and digital displays; logo signs direct motorists to nearby services and attractions, while transit advertising appears on buses, shelters, benches and in airport terminals. The company operates through three reportable segments: billboard, logo and transit advertising. In 2025, it generated $2.27 billion in revenue, including $2.01 billion from billboards, $89.2 million from logo advertising and $163.2 million from transit advertising. At year-end, it operated approximately 159,300 billboard displays, including 5,500 digital billboards, more than 144,400 logo displays and 40,600 transit displays across the United States and Canada. Lamar has operated under its name since 1902 and became a real estate investment trust in 2014. Its website is www.lamar.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
BATON ROUGE, LA
Fiscal year end
December
CIK
1090425
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-232.62M$465.25M$1.16B$1.86B$2.56B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Lamar Advertising Company — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

492
funds hold it
2 of 35
superinvestors hold it
$6.32B
held by funds, at market
48.2%
of shares held by funds

Superinvestors in Lamar Advertising Company · what they did last quarter

Tom GaynerUNCHANGED
Markel Group (Markel-Gayner)
0.2%of 13F portfolio
Tom RussoUNCHANGED
Gardner Russo & Quinn
<0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Lamar Advertising Company’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.37%of fund net assets
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.02%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.16%of fund net assets
Victory Sycamore Established Value Fund
VETAX · Victory Portfolios
1.71%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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