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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Equity to Asset 0.34
SALM's Equity to Asset is ranked higher than
60% of the 456 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 0.45 vs. SALM: 0.34 )
SALM' s 10-Year Equity to Asset Range
Min: 0.03   Max: 0.55
Current: 0.34

0.03
0.55
Interest Coverage 2.04
SALM's Interest Coverage is ranked higher than
52% of the 277 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 9.19 vs. SALM: 2.04 )
SALM' s 10-Year Interest Coverage Range
Min: 0.12   Max: 2.19
Current: 2.04

0.12
2.19
F-Score: 6
Z-Score: 0.76
M-Score: -2.64
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 14.57
SALM's Operating margin (%) is ranked higher than
84% of the 464 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 9.95 vs. SALM: 14.57 )
SALM' s 10-Year Operating margin (%) Range
Min: -14.3   Max: 25.57
Current: 14.57

-14.3
25.57
Net-margin (%) -1.15
SALM's Net-margin (%) is ranked higher than
60% of the 464 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 6.43 vs. SALM: -1.15 )
SALM' s 10-Year Net-margin (%) Range
Min: -14.87   Max: 8.53
Current: -1.15

-14.87
8.53
ROE (%) -1.36
SALM's ROE (%) is ranked higher than
59% of the 445 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 7.41 vs. SALM: -1.36 )
SALM' s 10-Year ROE (%) Range
Min: -17.58   Max: 8.15
Current: -1.36

-17.58
8.15
ROA (%) -0.48
SALM's ROA (%) is ranked higher than
61% of the 464 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 3.65 vs. SALM: -0.48 )
SALM' s 10-Year ROA (%) Range
Min: -5.44   Max: 2.75
Current: -0.48

-5.44
2.75
ROC (Joel Greenblatt) (%) 28.48
SALM's ROC (Joel Greenblatt) (%) is ranked higher than
78% of the 461 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 26.79 vs. SALM: 28.48 )
SALM' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -20.96   Max: 40.26
Current: 28.48

-20.96
40.26
Revenue Growth (%) 4.30
SALM's Revenue Growth (%) is ranked higher than
80% of the 423 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 1.40 vs. SALM: 4.30 )
SALM' s 10-Year Revenue Growth (%) Range
Min: -4.9   Max: 14.4
Current: 4.3

-4.9
14.4
EBITDA Growth (%) -20.50
SALM's EBITDA Growth (%) is ranked higher than
62% of the 343 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 2.50 vs. SALM: -20.50 )
SALM' s 10-Year EBITDA Growth (%) Range
Min: -31   Max: 23.1
Current: -20.5

-31
23.1
» SALM's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2013

SALM Guru Trades in Q3 2013

Mario Gabelli 1,189,913 sh (+3.1%)
Jim Simons 181,400 sh (-14.85%)
» More
Q4 2013

SALM Guru Trades in Q4 2013

Mario Gabelli 1,247,913 sh (+4.87%)
Jim Simons 164,100 sh (-9.54%)
» More
Q1 2014

SALM Guru Trades in Q1 2014

Mario Gabelli 1,241,378 sh (-0.52%)
Jim Simons 156,600 sh (-4.57%)
» More
Q2 2014

SALM Guru Trades in Q2 2014

Mario Gabelli 1,228,378 sh (-1.05%)
Jim Simons 147,300 sh (-5.94%)
» More
» Details

Insider Trades

Latest Guru Trades with SALM

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)



No Insider Trades Found!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 16.50
SALM's P/E(ttm) is ranked higher than
83% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 31.20 vs. SALM: 16.50 )
SALM' s 10-Year P/E(ttm) Range
Min: 3.41   Max: 166.37
Current: 16.5

3.41
166.37
P/B 1.00
SALM's P/B is ranked higher than
86% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 2.79 vs. SALM: 1.00 )
SALM' s 10-Year P/B Range
Min: 0.04   Max: 4.48
Current: 1

0.04
4.48
P/S 0.82
SALM's P/S is ranked higher than
84% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 2.12 vs. SALM: 0.82 )
SALM' s 10-Year P/S Range
Min: 0.04   Max: 4.3
Current: 0.82

0.04
4.3
PFCF 9.87
SALM's PFCF is ranked higher than
89% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 73.40 vs. SALM: 9.87 )
SALM' s 10-Year PFCF Range
Min: 0.26   Max: 91.48
Current: 9.87

0.26
91.48
EV-to-EBIT 15.61
SALM's EV-to-EBIT is ranked higher than
81% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 21.78 vs. SALM: 15.61 )
SALM' s 10-Year EV-to-EBIT Range
Min: 7.6   Max: 63.2
Current: 15.61

7.6
63.2
Current Ratio 1.35
SALM's Current Ratio is ranked higher than
66% of the 332 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 1.67 vs. SALM: 1.35 )
SALM' s 10-Year Current Ratio Range
Min: 0.43   Max: 6.91
Current: 1.35

0.43
6.91
Quick Ratio 1.33
SALM's Quick Ratio is ranked higher than
68% of the 332 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 1.39 vs. SALM: 1.33 )
SALM' s 10-Year Quick Ratio Range
Min: 0.43   Max: 6.91
Current: 1.33

0.43
6.91

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.78
SALM's Dividend Yield is ranked higher than
59% of the 278 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 2.28 vs. SALM: 2.78 )
SALM' s 10-Year Dividend Yield Range
Min: 0.62   Max: 2.79
Current: 2.78

0.62
2.79
Dividend Payout 0.46
SALM's Dividend Payout is ranked higher than
84% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 9999.00 vs. SALM: 0.46 )
SALM' s 10-Year Dividend Payout Range
Min: 0.25   Max: 2.9
Current: 0.46

0.25
2.9
Yield on cost (5-Year) 2.80
SALM's Yield on cost (5-Year) is ranked higher than
54% of the 287 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 2.57 vs. SALM: 2.80 )
SALM' s 10-Year Yield on cost (5-Year) Range
Min: 0.62   Max: 2.78
Current: 2.8

0.62
2.78
Share Buyback Rate -0.40
SALM's Share Buyback Rate is ranked higher than
79% of the 337 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: -0.90 vs. SALM: -0.40 )
SALM' s 10-Year Share Buyback Rate Range
Min: 2.8   Max: -12.2
Current: -0.4

Valuation & Return

vs
industry
vs
history
Price/DCF (Projected) 0.55
SALM's Price/DCF (Projected) is ranked higher than
94% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 2.60 vs. SALM: 0.55 )
SALM' s 10-Year Price/DCF (Projected) Range
Min: 0.07   Max: 1.31
Current: 0.55

0.07
1.31
Price/Median PS Value 1.00
SALM's Price/Median PS Value is ranked higher than
81% of the 488 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 1.26 vs. SALM: 1.00 )
SALM' s 10-Year Price/Median PS Value Range
Min: 0.07   Max: 8.39
Current: 1

0.07
8.39
Earnings Yield (Greenblatt) 6.40
SALM's Earnings Yield (Greenblatt) is ranked higher than
72% of the 403 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 5.70 vs. SALM: 6.40 )
SALM' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.6   Max: 13.1
Current: 6.4

1.6
13.1
Forward Rate of Return (Yacktman) 8.78
SALM's Forward Rate of Return (Yacktman) is ranked higher than
79% of the 383 Companies
in the Global Broadcasting - Radio industry.

( Industry Median: 4.69 vs. SALM: 8.78 )
SALM' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -30.9   Max: 38.3
Current: 8.78

-30.9
38.3

Business Description

Industry: Entertainment » Broadcasting - Radio
Compare:SIRI, CJREF, P, CMLS, CCMO » details
Salem Communications Corporation was formed in 1986 as a California corporation and was reincorporated in Delaware in 1999. It is a holding Company, which was formed in 1986 as a California corporation and was reincorporated in Delaware in 1999. It is a domestic U.S. radio broadcast company, which has traditionally provided talk and music programming targeted at audiences interested in Christian and family issues. It also owns and operates Salem Radio Network (SRN), SRN News Network (SNN), Salem Music Network (SMN), Reach Satellite Network (RSN), Salem Radio Representatives (SRR) and Vista Radio Representatives (VRR). SRN, SNN, SMN and RSN are radio networks, which produce and distribute talk, news and music programming to radio stations in the U.S., including some of the company's stations. SRR and VRR sell commercial air time to national advertisers for Salem's radio stations and networks, and for independent radio station affiliates. Additionally, the company owns and operates Internet businesses, including Salem Web Network (SWN) and Townhall.com, and publishing businesses including Salem Publishing and Xulon Press. SWN and Townhall.com provide Christian and conservative editorial content on the Internet as well as on-demand audio streaming and related services. Salem Publishing and Xulon Press publish magazines and books that serve the Christian and conservative audiences. During 2011, it acquired WorshipHouse Media, an on-line church media and video ministry website, for $6.0 million. It competes in the advertising market with non-broadcast media as well, including broadcast television, cable television, newspapers, magazines, direct mail, Internet and billboard advertising, some of which might be controlled by horizontally-integrated companies.

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