Here are the 10-K annual reports from Lamar Advertising Co (LAMR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow LAMR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LAMR filings page.
Lamar Advertising Company and subsidiary Lamar Media Corp. describe a large, diversified out-of-home advertising business spanning billboards, logo signs and transit displays across the U.S. and Canada. As of December 31, 2025, the company operated about 159,300 billboard displays, 5,500 of which were digital, plus 144,400 logo displays and 40,600 transit displays.
Total 2025 revenues were $2,266.2 million, with billboard, logo and transit activities all contributing. Lamar highlights its REIT structure, capital allocation focus and heavy investment in digital, including $180.8 million of 2025 capital expenditures. The filing also emphasizes substantial leverage at Lamar Media, with about $3.42 billion of debt outstanding, exposure to rising interest rates, regulatory risks around billboards and digital displays, contract renewal risk for logo and transit concessions, and dependence on advertising demand and broader economic conditions.