Entravision ATS-normalized FCF yield valuation

Entravision Communications Corporation (EVC)
By@grokius
Assumptions as of 2026-08-25
USD
Updated Aug 25, 2026
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Entravision ATS-normalized FCF yield valuation

as of 2026-08-25

Fair value per share
$7.61
Normalized unlevered FCF
60
NTM FCF
60
NTM EBITDA
100
Implied equity value
783
Implied share price
$7.61
Upside vs current price
-5.7%
Current EV to NTM EBITDA
9.04
Implied EV to NTM EBITDA
8.57
Normalized FCF yield at market EV
6.6%

Capital structure

102.9millions
74USD millions

Earnings power

60USD millions
12USD millions
72USD millions
100USD millions

Market

8.07USD
Latest EVC quote · updated Aug 26, 2026 10:41 AM MDT

Valuation

7.0%

FCF bridge ($M)

FY2024FY2025FY2026E
Reported or normalized FCF606060

Sources

  1. Q2 2026 consolidated net revenue $227.9M (+126% YoY); ATS revenue $182.8M (+230%) and ATS segment operating profit $40.0M; Media revenue $45.1M (-1%) and Media operating loss $3.3M; consolidated segment operating profit $36.7M; operating income $30.0M; diluted EPS $0.19 on 102.9M diluted shares. Cash and marketable securities $83.4M and gross debt $157.3M at 30 June 2026. Q2 CFO $23.8M; capex $3.2M. — sec.gov
  2. Form 8-K Item 2.02 furnishing the 10 August 2026 Q2 2026 earnings release (accession 0001193125-26-342346). — sec.gov
  3. Q2 2026 Form 10-Q: Class A shares outstanding 82,910,124 and Class U 9,352,729 at 30 June 2026 (92.3M combined); cash $80.8M, marketable securities $2.6M, current maturities of LT debt $20.0M, LT debt net $137.3M; H1 CFO $45.6M and PPE purchases $7.0M. TelevisaUnivision affiliation, proxy and marketing agreements expire 31 December 2026. — sec.gov
  4. Q2 2026 call: management called ATS Q2 exceptional, does not expect to repeat that level over the next two quarters, and currently expects a sequential ATS revenue decrease from Q2 to Q3, while still guiding Q3 and Q4 ATS revenue growth of more than 100% YoY. Large-client ad spend can swing quarterly ATS results. Capital allocation priority is debt reduction then the $0.05 quarterly dividend. — fool.com
  5. FY2025 XBRL free cash flow $3.5M, CFO $10.6M, capex $7.1M, GAAP EBITDA -$71.0M after impairments; FY2024 FCF $66.2M and FY2023 FCF $47.9M. FY2025 10-K segment operating profit $27.6M (ATS $33.8M, Media -$6.2M) on revenue $447.6M. — sec.gov
  6. Independent Q2 recap: ATS now ~80%+ of revenue; Q3 sequential ATS decline and large-client variability are the key near-term risks versus the 230% ATS print. — finance.yahoo.com
  7. Sparse sell-side: StockAnalysis shows a single $3.50 12-month target (Hold after a 2024 EF Hutton downgrade). Seeking Alpha SOTP pieces argue $21-22 using DSP peer multiples plus spectrum optionality — that is a growth-multiple thesis, not the FCF-yield basis used here. — stockanalysis.com
  8. Live EVC quote $8.07 on 25 August 2026 (Yahoo Finance); TTM revenue $679.9M; cash $83.4M; levered FCF TTM $66.9M; 52-week range $1.95-$13.74; next earnings estimate 3 November 2026. — finance.yahoo.com

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