Entravision SOTP - ATS revenue multiple, spectrum and media

Entravision Communications Corporation (EVC)
By@hypertonx
Assumptions as of 2026-08-11
USD
Updated Aug 26, 2026 · Revised 5 times
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Entravision SOTP - ATS revenue multiple, spectrum and media

as of 2026-08-11

SOTP fair value per share
$14.51
Implied equity value ($M)
$1,493
Implied ATS enterprise value ($M)
$1,350
Normalized ATS comparable net revenue ($M)
$270
Q2 annualized ATS comparable net revenue ($M)
$284
Q2 ATS comparable net revenue growth
223%
Spectrum proceeds after leakage ($M)
$150
Legacy media enterprise value ($M)
$225
Capitalized corporate drag ($M)
$158
Net debt ($M)
$74
Current enterprise value ($M)
$896
Upside/downside to current price
82%

ATS

270.00$M
5.00x

Capital structure

102.86M
73.89$M

Corporate

6.00x
26.39$M

Liabilities

0.00$M

Market

7.99$/sh
Latest EVC quote · updated Aug 26, 2026 2:00 PM MDT

Media

225.00$M

Spectrum

200.00$M
25%

Sources

  1. Q2 2026 ATS gross revenue was $182.821M and cost of revenue was $111.870M, producing $70.951M of comparable net revenue. Corporate expense was $6.597M. — sec.gov (accessed 2026-08-11)
  2. At June 30, 2026, cash and marketable securities were $83.381M, debt was $157.270M, and Q2 diluted weighted-average shares were 102.858M. — sec.gov (accessed 2026-08-11)
  3. Q1 2026 ATS revenue was $154.550M and ATS cost of revenue was $96.589M, producing $57.961M of comparable net revenue versus $20.668M in Q1 2025. — sec.gov
  4. At March 31, 2026, cash and marketable securities were $71.144M, debt was $162.195M, and diluted shares were 96.420181M. — sec.gov
  5. Liftoff reported Q1 2026 Core Advertising revenue of $204.7M, up 37%, and reports publisher consideration net because it acts as agent. — sec.gov
  6. Entravision generated $6.170M of spectrum usage rights revenue in 2025 and $0.797M in Q1 2026. — sec.gov
  7. Entravision announced approximately $264M of anticipated proceeds from the 2017 FCC broadcast spectrum auction. — investor.entravision.com
  8. Historical EVC prices used to frame a conservative legacy media stub include approximately $3.96 in August 2023 and approximately $2.19 in July 2024. — financecharts.com

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