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An industry chapter · Advertising & Marketing

Advertising & Marketing

23 members, 4324 to ZETA, A to Z by ticker.

Gross profitability: median 26% — gross profit as a share of total assets, each member's median across its readable years; read on 19 of 23 members
Capital intensity: median 1.8% — capital expenditure as a share of revenue, each member's median across its readable years; read on 20 of 23 members
Net cash: 13 of the 23 members with a readable debt line hold more cash and short-term investments than total debt

Figures describe the list as a group, from each member's own filed record; they name no member and form no rank. A member missing an input is absent from that median, never counted against the others.

From the latest filings · data as of August 17, 2026.

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4324 Dentsu Group

An asset-light business: the value sits in intellectual property and people, not plant, so the question is how durable the advantage is, not how high the margin.

Owner earnings not read

Retained capital not read

Balance sheet Net debt against an operating loss, ¥173.1B

APP AppLovin

We provide end-to-end artificial intelligence-powered advertising solutions for businesses to reach, monetize and grow their global audience.

Owner earnings 2019–2024 $195M$220M$360M$412M$1.1B$2.1B

Retained capital Paid out $703M more than it earned over 2019–2024; annual owner earnings grew $929M.

Balance sheet Modest net debt, $1.0B

CCO Clear Channel Outdoor Holdings Inc.

Clear Channel Outdoor Holdings Inc. is a leading provider of out-of-home advertising solutions, offering advertisers impactful and innovative opportunities to reach mass audiences across a variety of high-traffic public spaces.

Owner earnings 2016–2025 $79M($64M)($24M)($18M)($262M)($282M)($45M)($135M)($63M)$32M

Retained capital Paid out $3.8B more than it earned over 2016–2025; annual owner earnings fell $52M.

Balance sheet Heavy net debt, $5.0B · dividend paid 5 of 10 yrs, cut at least once

CRTO Criteo S.A.

We reach shoppers wherever they are with personalized advertising and deliver the outcomes that matter most to brands.

Owner earnings 2022–2025 $192M$108M$180M$208M

Retained capital Paid out $319M more than it earned over 2022–2025; annual owner earnings grew $5M.

Balance sheet Net cash, +$363M · buybacks at an average near $34.69

DSP Viant Technology Inc.

We are an advertising technology company.

Owner earnings 2019–2025 $13M$18M$28M($4M)$37M$49M$52M

Retained capital Paid out $3M more than it earned over 2019–2025; annual owner earnings grew $26M.

Balance sheet Cash equals debt, $0 · dividend paid 1 of 7 yrs, cut at least once

DV DoubleVerify

We are one of the industry's leading media effectiveness platforms that leverages artificial intelligence to drive superior outcomes for global brands.

Owner earnings 2019–2025 $23M$11M$73M$55M$103M$133M$173M

Retained capital Retained $18M of earnings over 2019–2025; annual owner earnings grew $100M.

Balance sheet Net cash, +$237M

EVER EverQuote Inc.

A software business, earning high margins on code once it is written.

Owner earnings 2017–2025 ($3M)($3M)$2M$7M$4M($20M)($7M)$62M$92M

Retained capital Paid out $31M more than it earned over 2017–2025; annual owner earnings grew $50M.

Balance sheet Net cash, +$167M · buybacks at an average near $6.88

IBTA Ibotta Inc.

We source digital promotions from our clients, which are primarily consumer packaged goods brands, and distribute these promotions to consumers via our network of publishers, which is enabled by our technology platform.

Owner earnings 2022–2025 ($57M)$22M$115M$87M

Retained capital Paid out $209M more than it earned over 2022–2025; annual owner earnings grew $48M.

Balance sheet Net cash, debt-free, +$187M

IPG Interpublic

We provide marketing, communications and business transformation services that help marketers and brands succeed in today's digital economy.

Owner earnings 2015–2024 $527M$353M$726M$388M$1.3B$1.7B$1.9B$464M$375M$913M

Retained capital Retained $1.4B of earnings over 2015–2024; annual owner earnings grew $49M, $0.04 per $1 retained.

Balance sheet Modest net debt, $734M · buybacks at an average near $25.86 · dividend paid 10 of 10 yrs, never cut

MGNI Magnite Inc.

A software business, earning high margins on code once it is written.

Owner earnings 2016–2025 $37M($11M)($34M)$21M($26M)$109M$162M$188M$202M$182M

Retained capital Paid out $518M more than it earned over 2016–2025; annual owner earnings grew $194M.

Balance sheet Modest net debt, $12M · buybacks at an average near $9.84

MNTN MNTN Inc.

An asset-light business: the value sits in intellectual property and people, not plant, so the question is how durable the advantage is, not how high the margin.

Owner earnings not read

Retained capital not read

Balance sheet Net cash, debt-free, +$210M

NCMI National CineMedia Inc.

National CineMedia is the largest cinema advertising platform in the U.S.

Owner earnings 2016–2025 $121M$127M$136M$130M$47M($101M)($50M)($10M)$55M$3M

Retained capital Retained $360M of earnings over 2016–2025; annual owner earnings fell $112M, $-0.31 per $1 retained.

Balance sheet Net cash, +$23M · buybacks at an average near $5.32 · dividend paid 10 of 10 yrs, cut at least once

NEXN Nexxen International Ltd.

Nexxen is a global, flexible advertising technology platform with deep expertise in data and advanced TV that provides advertisers, agencies, digital publishers, broadcasters, and others with technology and data solutions to plan, buy, manage, sell, and measure advertising across the digital advertising supply chain.

Owner earnings 2019–2025 $44M$35M$167M$77M$56M$143M$98M

Retained capital Paid out $156M more than it earned over 2019–2025; annual owner earnings grew $17M.

Balance sheet Net cash, debt-free, +$133M

OMC Omnicom

Omnicom's agencies integrate data, creativity, and technology to deliver coordinated marketing, communications, and commerce solutions.

Owner earnings 2016–2025 $1.8B$1.9B$1.5B$1.8B$1.6B$1.3B$848M$1.3B$1.6B$2.8B

Retained capital Retained $483M of earnings over 2016–2025; annual owner earnings grew $181M.

Balance sheet Heavy net debt, $2.9B · dividend paid 10 of 10 yrs, never cut

PERF Perfect Corp. Class A Ordinary Share

A software business, earning high margins on code once it is written.

Owner earnings 2020–2025 $2M$1M($3M)$13M$13M$13M

Retained capital Paid out $370M more than it earned over 2020–2025; annual owner earnings grew $13M.

Balance sheet Net cash, debt-free, +$126M

PUBM PubMatic Inc.

PubMatic Inc. is an independent, artificial intelligence-powered advertising technology company that delivers digital advertising performance.

Owner earnings 2019–2025 $28M$9M$73M$64M$71M$56M$67M

Retained capital Paid out $56M more than it earned over 2019–2025; annual owner earnings grew $28M.

Balance sheet Net cash, debt-free, +$146M

STGW Stagwell Inc.

Stagwell Inc. is the global challenger network transforming marketing through artificial intelligence.

Owner earnings 2016–2025 ($75M)$39M($3M)$68M$133M$192M$325M$67M$124M$247M

Retained capital Paid out $388M more than it earned over 2016–2025; annual owner earnings grew $159M.

Balance sheet Heavy net debt, $1.2B · buybacks at an average near $9.76 · dividend paid 4 of 10 yrs, cut at least once

TBLA Taboola.com Ltd.

Taboola is a technology company that helps businesses grow by placing ads on publisher sites, mobile apps, and devices, which we collectively refer to as digital properties.

Owner earnings 2020–2025 $121M$33M$26M$52M$149M$179M

Retained capital Paid out $456M more than it earned over 2020–2025; annual owner earnings grew $67M.

Balance sheet Net cash, +$19M

TJGC TJGC Group Limited

Revenue is led by Offline advertising and web banner (50%) and Online advertising (38%), with 2 more lines behind.

Owner earnings 2025–2026 (HK$27M)(HK$29M)

Retained capital not read

Balance sheet Net debt against an operating loss, HK$16M

TTD The Trade Desk Inc.

We are a global leader in advertising technology.

Owner earnings 2016–2025 $71M$24M$75M$39M$376M$336M$494M$552M$641M$877M

Retained capital Paid out $545M more than it earned over 2016–2025; annual owner earnings grew $633M.

Balance sheet Net cash, +$1.3B

U Unity Software

Unity is the leading platform to develop, deploy, and grow games and interactive experiences.

Owner earnings 2018–2025 ($102M)($95M)($20M)($153M)($117M)$179M$286M$404M

Retained capital Paid out $6.0B more than it earned over 2018–2025; annual owner earnings grew $362M.

Balance sheet Net cash, +$377M

WPP WPP plc

A diversified business; where the profit really comes from, and whether it is earned or bought, is what the segment detail settles.

Owner earnings 2016–2025 £1.5B£1.1B£1.4B£1.5B£1.8B£1.8B£492M£1.1B£1.2B£633M

Retained capital Paid out £4.4B more than it earned over 2016–2025; annual owner earnings fell £369M.

Balance sheet Heavy net debt, £2.2B · dividend paid 10 of 10 yrs, cut at least once

ZETA Zeta Global Holdings Corp.

Zeta is a leading AI-powered omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software.

Owner earnings 2019–2025 $27M$33M$35M$56M$70M$108M$185M

Retained capital Paid out $909M more than it earned over 2019–2025; annual owner earnings grew $89M.

Balance sheet Net cash, +$123M

The same shelf as one comparative table, every member a row and every column sortable: the Advertising & Marketing table →

The same four lines for every member, in strict ticker order; a figure that could not be read renders as "not read," never as a mark against the record beside it. The header describes the list and names no member; the entries carry no ranking and form no score. What a chapter cannot carry — understanding of the business, and a price — is yours.