Beasley Broadcast Group, Inc. (BBGI) is a Communication Services stock trading at $15.69 (as of 2026-09-11), with a market capitalization of $28.78M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Understand Beasley Broadcast Group, Inc.: how it makes money
Beasley Broadcast Group owns and operates AM and FM radio stations across the southeastern US, making money by selling local and national advertising time. Revenue leans heavily on local advertiser relationships, with national and political ad revenue as smaller, more cyclical add-ons.
The profit model is local media landlording: revenue tracks local advertiser budgets in each station's radio market, and with a 3% operating margin the business has very little cushion if those local budgets continue to shift toward digital platforms.
Business quality (Weak): Weak: a 3% operating margin, negative 274% return on equity, and double-digit revenue decline signal a business whose cost structure has not kept pace with the erosion of traditional radio ad demand.
Bull case
Local renewals are stabilizing: Management reported local direct revenue grew 9% as client churn declined and existing relationships expanded, suggesting the core local ad base is holding up even as broader markets soften.
Political pipeline already loaded: Political bookings exceeded 25% of the full-year budget before the peak election period, providing a near-term revenue cushion while core ad revenue remains under pressure.
Digital revenue is compounding: Owned digital revenue increased 10% in Q2 and 18% in the first half, giving the company a growing non-traditional line that could eventually fund margin expansion.
Bear case
National and agency budgets eroding: National ex-political revenue fell 21% year over year and local agency revenue fell 12%, indicating advertisers are structurally shifting spend away from the station portfolio toward digital channels.
Digital growth without profit: Management acknowledged digital profitability remained below expectations despite audience and revenue growth, meaning the digital transition is diluting the already thin 3% operating margin rather than replacing it.
Same-station decline persists: Management guided that third-quarter same-station revenue would decline mid-single digits, confirming the revenue erosion is ongoing rather than reversing on a one-quarter quirk.
Valuation — source: SEC EDGAR (first-party)
Price
$15.69
Market Cap
$28.78M
Price / Book
0.74
Price / Sales
0.15
FCF Yield
-98.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)
$205.94M
Net Margin
-95.4%
Return on Equity
-273.5%
Debt / Equity
3.73
Current Ratio
1.23
Revenue Growth (YoY)
-16.7%
EPS Growth (YoY)
-51733.3%
FCF Growth (YoY)
-606.4%
Financial Health — source: SEC EDGAR
Altman Z-Score
-2.62 (distress)
Valuation vs Sector & Industry
Sector P/E (Communication Services)
20.5
Industry P/E (Communication)
15.1
Company
Sector
Communication Services
Industry
Communication
Beasley Broadcast Group, Inc. earnings call transcripts