oOh media Ltd OML

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A$1.63 −0.04 (2.11%)

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As of May 14, 2024 6:11am Delayed Price Closed

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Company Report

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OOh media's No-Moat Rating Reiterated

Brian Han Apr 23, 2024

OOh media is well-positioned to benefit from the favorable dynamics underpinning the Australian (and New Zealand) outdoor advertising market. This has seen outdoor's share of the total advertising pie lift from 3.5% in 2009 to 5.7% prior to covid-19. We see this trend continuing, especially as the Australian outdoor medium's share still lags other developed countries such as Canada and the United Kingdom.

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Price vs Fair Value

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OML is trading at a 762% premium.

Price

A$1.62

May 14, 2024

Fair Value

A$9.16

Feb 19, 2024

Uncertainty

High

1-Star Price: A$9.75
5-Star Price: A$8.99
Economic Moat: Jyk
Capital Allocation: Nmxvfybft

Bulls Say, Bears Say

Bulls

Outdoor advertising is a growth medium benefiting from structural tailwinds such as increasing audience, more reliable measurement, and conversion of inventory to digital.

Bears

Renewals are likely to be renegotiated at less favorable terms, as landlords seek to share in the attractive returns that oOh media generates from digital conversion or as competitors give away more benefits to landlords.

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Trading Information

Previous Close Price: A$1.66
Day Range: A$1.62–1.65
52-Week Range: A$1.12–1.87
Bid/Ask: A$1.61 / A$1.65
Market Cap: A$875.52 Mil
Volume/Avg: 337,890 / 961,301

Key Statistics

Price/Earnings (Normalized): 23.13
Price/Sales: 1.41
Dividend Yield (Trailing): 3.23%
Dividend Yield (Forward): 3.23%
Total Yield: 11.19%

Company Profile

OOh media operates a network of out-of-home advertising sites with a commanding approximately 40% share of the Australian market, and also has a big presence in New Zealand. It boasts a diverse portfolio of locations to service the needs of out-of-home marketers, and is particularly strong in the roadside billboard, street furniture and rail, and retail (shopping malls) segments. OOh!media offers these services by entering into space lease arrangements with owners of out-of-home sites, and extracting margins on those lease concessions from firms advertising on those sites. oOh!media is effectively an intermediary allowing site owners to monetize their visible space in high-traffic areas.

Sector: Communication Services
Industry: Advertising Agencies
Stock Style Box: Small Core
Total Number of Employees: 832
Website: https://www.oohmedia.com.au

Competitors

Valuation

Metric	OML	NEC	SXL
Price/Earnings (Normalized)	23.13	9.57	24.69
Price/Book Value	1.18	1.48	0.47
Price/Sales	1.41	0.95	0.42
Price/Cash Flow	4.25	6.34	4.77

Price/Earnings

OML

NEC

SXL

Financial Strength

Metric	OML	NEC	SXL
Quick Ratio	0.67	0.58	1.64
Current Ratio	0.75	1.09	1.67
Interest Coverage	2.15	3.66	1.52

Quick Ratio

OML

NEC

SXL

Profitability

Metric	OML	NEC	SXL
Return on Assets (Normalized)	3.26%	5.42%	0.64%
Return on Equity (Normalized)	7.26%	12.66%	1.52%
Return on Invested Capital (Normalized)	5.27%	11.28%	2.81%

Return on Assets

OML

NEC

SXL

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