Emerald Holding, Inc. (EEX) Market Cap
Emerald Holding, Inc. has a market capitalization of $994.5M.
Price: $5.03
ā² 0.01 (0.10%)
Market Cap: 994.49M
NYSE Ā· time unavailable
CEO: Herve Sedky
Sector: Communication Services
Industry: Advertising Agencies
IPO Date: 2017-04-28
Website: https://www.emeraldx.com
Emerald Holding, Inc. (EEX) - Company Information
Market Cap: 994.49M|Sector: Communication Services
Company Profile
Emerald Holding, Inc. specializes in orchestrating business-to-business (B2B) industry exhibitions across the United States. These events span a diverse array of sectors, including retail, architecture and construction, technology, industrial equipment, and protective solutions. Beyond live expos, the company also maintains digital content and marketing platforms, along with related online offerings, and publishes various print materials. Furthermore, Emerald operates the Elastic Suite platform, designed to simplify the wholesale purchasing journey for both brands and their retail clients, as well as the Flex platform. Founded in 2013 as Emerald Expositions Events, Inc., the firm maintains its headquarters in New York City.
Analyst Sentiment
From 2 Active Polls
1Y Forecast: $7.90
ā² +57.2% Potential Upside
Consensus Target Metrics
Low Bound
$8
Median
$8
High Bound
$8
Average
$8
Price & Moving Averages
šÆ Wall Street Analyst Intelligence Report
1-Year structural target targets, chart projections, and sentiment maps.
Consensus Trend Projection
Trailing closures vs. 12-month metrics map.
Analyst Vote Distribution
Aggregate institutional coverage sentiment weights.
š Historical Valuation Multiples
Real-time Trailing Twelve Month (TTM) momentum side-by-side with discrete quarterly metrics.
| Fiscal Quarter | TTM | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Period Ending | Trailing 12M | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 |
| Market Cap ($M) | 994 | 892 | 884 | 1,008 | 963 | 788 | 976 | 1,017 | 858 |
| Enterprise Value ($M) | 1,381 | 1,279 | 1,389 | 1,427 | 1,322 | 1,027 | 1,193 | 1,242 | 1,078 |
| Price to Earnings Ratio (P/E) | -25.62 | 30.98 | -7.32 | -17.49 | -172.05 | 12.88 | 47.84 | -22.92 | -76.57 |
| Price/Earnings-to-Growth Ratio (PEG) | ā | 1.81 | -0.10 | ā | ā | 0.34 | 1.02 | ā | ā |
| Price to Sales Ratio (P/S) | 2.11 | 5.74 | 6.66 | 13.00 | 9.13 | 5.34 | 9.14 | 14.01 | 9.97 |
| Price to Book Ratio (P/B) | 2.94 | 2.64 | 2.61 | 2.73 | 2.47 | 2.01 | 2.53 | 2.60 | 2.10 |
| Price to Free Cash Flow Ratio (P/FCF) | 17.42 | 31.30 | 75.56 | 671.71 | 62.56 | 73.68 | 49.05 | 113.05 | 89.33 |
| Enterprise Value to Sales (EV/Sales) | ā | 8.23 | 10.47 | 18.41 | 12.54 | 6.95 | 11.17 | 17.10 | 12.54 |
| Enterprise Value to EBITDA (EV/EBITDA) | 33.20 | 45.84 | -201.32 | 951.24 | 69.24 | 23.08 | 40.05 | 269.92 | 69.57 |
| Debt to Equity Ratio | 9.30 | 1.50 | 1.51 | 1.39 | 1.32 | 1.31 | 1.07 | 1.06 | 1.02 |
ā” EEX Growth Runway Model
Standard long term linear growth fadeMulti-Stage Discounted Cash Flow Sandbox
Growth runway slowdown
This value provides a time window for the growth rate to decline beyond Stage 1 toward the terminal rate. Longer windows are most useful for companies with high growth starting conditions or strong competitive advantages. This option stretches out the growth rate slowdown across 5, 10, or 15-year steps. A high-growth starting condition (exceeding a 25% initial growth rate) automatically applies a curve decay to simulate realistic, rapid market saturation.Terminal growth rate
With long-term inflation between 3-5%, revenue must grow by that baseline to maintain flat real-world market share. This value sets the permanent terminal growth rate to factor into the valuation beyond the growth slowdown runway toward maturity.3-Stage Financial Runway Horizon
š§ Perpetuity Horizon Engine (Stage 3: Post-2035)
š Full Research Report
AI-Generated Research: This report is for informational purposes only.
š° Market News & Coverage
15 Stories AvailableReal-time institutional reporting and market updates for EEX.
Wiley Acquires Emerald, Expanding Research Scale and Deepening Proprietary Content Across the AI-Driven Knowledge Economy
HOBOKEN, N.J.--(BUSINESS WIRE)--Wiley (NYSE: WLY) today announced it has acquired Emerald Publishing Limited in an all-cash transaction valued at Ā£337 million, or USD 452 million.
$HAREHOLDER ALERT: The M&A Class Action Firm Continues to Investigate the Merger--CCRN, EEX, BLD, and QXO
$HAREHOLDER ALERT: The M&A Class Action Firm Continues to Investigate the Merger--CCRN, EEX, BLD, and QXO PR Newswire
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Stockholders of an Investigation into the Fairness of the Acquisition of Emerald Holding, Inc.
SHAREHOLDER ALERT: Levi and Korsinsky, LLP Notifies Stockholders of an Investigation into the Fairness of the Acquisition of Emerald Holding, Inc
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Stockholders of an Investigation into the Fairness of the Acquisition of Emerald Holding, Inc.
NEW YORK, May 19, 2026 /PRNewswire/ --Ā The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchasedĀ Emerald Holding, Inc. (" Emerald" or the "Company") (NYSE: EEX) stockĀ prior to May 9, 2026 . You are hereby notifiedĀ that Levi & Korsinsky, LLP has commenced anĀ investigationĀ into theĀ fairness of the acquisition of Emerald by funds managed by Apollo Global Management, Inc. As a result of the merger, Emerald stockholders are expected to receive only $5.03 per share in cash in exchange for each share of common stock.
Apex Resources Grants Option to Fortress Strategic Metals to Explore and Mine Tungsten Zones in The Jersey-Emerald Project in BC and Appointment of Officer
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Apex Resources Inc.Ā Ā (TSXV: APX) (OTCID: SLMLF)Ā ("Apex" or the "Company")Ā is pleased to announce that on May 15, 2026, it entered into a mining option agreement (the "Option Agreement") with Fortress Strategic Metals Corp. ("Fortress"), a private company at arm's length to the Company, pursuant to which the Company has agreed to grant to Fortress the exclusive option (the "Option") to earn, in stages, up to a one-hundred percent (100%) undivided interest (the "Interest") in and to eighteen (18) crown granted mineral claims, one (1) four post claim, one (1) two post claim and two (2) located mineral claims (the "Mineral Claims") forming part of the Company's "Jersey-Emerald Project" located near Salmo, British Columbia, solely for the purpose of conducting exploration and mining operations on the Tungsten Zones (as described below) within the Mineral Claims (the "Transaction"). Fortress' rights under the Option Agreement are limited exclusively to the Tungsten Zones, and the Company retains all rights to access, explore, develop, and mine the Non-Tungsten Areas (as that term is described in the Option Agreement) at all times.
$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Emerald Holding, Inc. (NYSE:Ā EEX)
NEW YORK, May 11, 2026 (GLOBE NEWSWIRE) -- Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the āM&A Class Action Firmā), has recovered millions of dollars for shareholders and is recognized as a Top 50Ā Firm in the 2025 ISS Securities Class Action Services Report. The firm is headquartered at theĀ Empire State BuildingĀ in New York City and is investigating Emerald Holding, Inc. (NYSE:Ā EEX )Ā related to its sale to affiliates of Apollo Global Management, Inc. Under the terms of the proposed transaction, Emerald shareholders are expected to receive $5.03 per share in cash. Is it a fair deal?
Shareholder Alert: Ademi LLP investigates whether Emerald Holding Inc. is obtaining a Fair Price for Public Shareholders
MILWAUKEE, May 11, 2026 /PRNewswire/ -- Ademi LLP is investigating Emerald (NYSE: EEX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Apollo-managed funds. Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995.
Onex Partners Announces the Sale of Emerald to Apollo Funds
TORONTO, May 11, 2026 (GLOBE NEWSWIRE) -- Onex Partners today announced the sale of Emerald Holding Inc. (NYSE:EEX) (āEmeraldā or the Companyā), of which it owns over 90% of the outstanding shares, to funds managed by Apollo (NYSE:APO) (the āApollo Fundsā). Upon completion of the transaction, Emerald will cease trading on the New York Stock Exchange and become a private company owned by the Apollo Funds.
Apollo Funds to Acquire Emerald and Questex to Create Leading North American B2B Events Platform
Combination Under Private Ownership Would Bring Together Two Complementary Portfolios, Creating a Scaled Platform Positioned for Growth Combination Under Private Ownership Would Bring Together Two Complementary Portfolios, Creating a Scaled Platform Positioned for Growth
Emerald Announces Date for First Quarter 2026 Financial Results
NEW YORK--(BUSINESS WIRE)--Emerald Holding, Inc. (NYSE: EEX) (āEmeraldā or the āCompanyā), today announced that it will release its financial results for the first quarter 2026 before the market open on Monday, May 11, 2026. The Company will hold a conference call to discuss the results at 8:30 am ET on the same day. The conference call can be accessed by dialing 1-800-715-9871 (domestic) or 1-646-307-1963 (international). A telephonic replay will be available beginning at 11:30 am ET by dialin.
Nvidia, Emerald AI Partner With Power Companies on New AI Factories
The facilities will operate as flexible energy assets, supporting power grids by modulating consumption and leveraging on-site generation and storage.
Monster Energy Flips Chicago River Green for St. Patrick's with Spectacular Jet Ski Show
Monster's Pro Riders Helped Churn the Emerald Waters ā Monster Style! Monster's Pro Riders Helped Churn the Emerald Waters ā Monster Style!
Emerald Holding: Selling The Buyout Rumor Paid Off (Rating Upgrade)
Emerald Holding is now rated 'Hold' as shares trade within my FY 2026 fair value range of $3.90ā$4.15. EEX's organic growth remains weak, with Q4 FY 2025 at 0.3%, and industry headwinds persist from a soft US economy and lower B2B event demand. Management's FY 2026 guidance targets modest revenue growth (5.7ā6.8%) and adjusted EBITDA of $137.5ā$142.5 million, with limited room for major M&A.
Emerald Holding, Inc. (EEX) Q4 2025 Earnings Call Transcript
Emerald Holding, Inc. (EEX) Q4 2025 Earnings Call Transcript
Emerald Reports Fourth Quarter and Full Year 2025 Financial Results
NEW YORK--(BUSINESS WIRE)--Emerald Holding, Inc. (NYSE: EEX) (āEmeraldā or the āCompanyā), America's largest producer of trade shows and their associated conferences, content and commerce, today reported financial results for the fourth quarter and fiscal year ended December 31, 2025. Full Year 2025 Financial Highlights Revenues of $463.4 million, an increase of $64.6 million, or 16.2%, over the prior year period, primarily due to revenues from acquisitions and higher Organic Revenues. Organic.
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š AI Financial Analysis
Powered by StockMarketInfo"Q1 2026 revenue was $155.4M (+17.1% QoQ, +5.1% YoY) while net income rebounded to $7.2M (from -$30.2M in Q4 2025 and -$14.4M in Q3 2025; +82.4% YoY vs. $15.3M down to a smaller baseānet income was higher than last yearās seasonally weak quarter). EPS was $0.04, up from -$0.15 in Q4 2025 and up from -$0.073 in Q3 2025, though below Q1 2025ās $0.076. Profitability improved materially: gross margin rose to 64.0% (vs. 55.0% in Q4 2025 and 56.1% in Q3 2025), and operating margin expanded to 12.5% (from 18.9% in Q4 2025 but turning positive vs. negative prior quarters). Net margin improved to 4.6% (vs. -22.8% in Q4 2025). Operating cash flow was $28.7M and free cash flow $28.5M, supporting a quarter of positive cash generation. Balance sheet resilience remains mixed: total assets were $1.24B and equity $338.4M, but retained earnings are deeply negative (-$673.6M). Shareholder returns appear constructive given strong momentum: the stock is up 32.8% over 1Y (and dividend yield is ~0.33%, with no dividends paid this quarter). Analyst consensus price target ($7.9) is well above the current price ($4.74), implying upside if execution sustains."
Revenue Growth
Revenue grew +17.1% QoQ (from $132.7M to $155.4M) and +5.1% YoY (vs. $147.7M). Growth improved vs the prior two quarters.
Profitability
Margins improved sharply vs Q4/Q3 2025: gross margin 64.0% vs 55.0% (Q4) and 56.1% (Q3); net margin turned positive to 4.6% (vs -22.8% in Q4). However, profitability is not yet back to Q1 2025 levels (net margin ~10.4%).
Cash Flow Quality
Q1 2026 generated strong operating cash flow of $28.7M and free cash flow of $28.5M, with no dividends paid. This supports earnings recovery, even though earlier quarters showed cash volatility.
Leverage & Balance Sheet
Total assets were stable at ~$1.24B, but retained earnings remain severely negative (-$673.6M). Equity is stable around $338M; net debt is favorable at -$110.8M (net cash).
Shareholder Returns
Total return momentum is strong: price is up 32.8% over 1Y. Dividend yield is low (~0.33%) and dividends were $0 in the quarter, so appreciation is the main driver.
Analyst Sentiment & Valuation
Consensus target is $7.9 vs current $4.74, indicating upside. Still, the trailing price/earnings and quarter-to-quarter earnings swings suggest valuation confidence depends on maintaining margin recovery.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Fundamentals Overview
EEX delivered strong FY 2025 growth, with total revenue up 16.2% to $463.4M and adjusted EBITDA up 25% to $127.1M, driven largely by newly acquired businesses (This is Beyond, Insurtech Insights, Generis) plus modest organic momentum (FY organic +1.1%; +4.8% pro-forma). Despite earnings improvement, reported free cash flow declined slightly to $34.3M, primarily due to acquisition timing (noted $30M OCF offset vs operating cash flow) and $6.5M of refinancing feesātogether cited as a $36.6M drag versus underlying operations. Management guides 2026 revenue of $490Mā$495M and adjusted EBITDA of $137.5Mā$142.5M, implying ~6% revenue and ~10% EBITDA growth at the midpoint, with expected free cash flow of $85Mā$90M (high EBITDA-to-FCF flow-through, subject to acquisition/integration spend). Operational upside centers on automation/AI agents and finance stack modernization for scalable margin expansion. Key near-term uncertainty is early-2026 integration costs and macro/tariff monitoring, while Middle East disruption appears immaterial (<1% revenue).
Growth Catalysts
- High rebooking activity and strong customer engagements supporting momentum entering 2026
- Operational efficiencies via automation, process optimization and scalable platforms aimed at margin expansion
- Expansion of Content monetization via launched lead generation business leveraging content (started sales in October 2025)
Business Development
- Acquisitions completed in 2025: This is Beyond, Insurtech Insights, Generis
- Ongoing M&A conversations / pipeline in high-growth sectors (no specific targets named)
Financial Highlights
- Q4 2025 revenue: $132.7M vs $106.8M prior year (+24.3% YoY reported); reported organic revenue +0.3% YoY; pro-forma organic revenue +5.3% YoY assuming 2024 includes newly acquired businesses
- FY 2025 revenue: $463.4M (+16.2% YoY); FY reported organic revenue +1.1% YoY; pro-forma organic revenue +4.8% YoY assuming acquisitions included in 2024
- Q4 2025 adjusted EBITDA: $36.3M vs $33.1M (+9.7% YoY)
- FY 2025 adjusted EBITDA: $127.1M vs $101.7M (+25% YoY)
- Expense pressure: SG&A FY $241.2M vs $170.4M, driven by contingent consideration remeasurement adjustments plus transaction/integration costs
- FCF: Q4 2025 $10.1M vs $18.4M; FY 2025 $34.3M vs $37.0M, impacted by acquisition timing (noted $30M of OCF generated if owned at start of year) and $6.5M refinancing fees; total FCF impact quantified at $36.6M for FY 2025
- Balance sheet: net debt to covenant EBITDA 2.86x (below sub-3.0x target)
- 2026 guidance: revenue $490Mā$495M; adjusted EBITDA $137.5Mā$142.5M (midpoint ~6% revenue growth and ~10% adjusted EBITDA growth YoY)
Capital Funding
- Q4 2025 share repurchases: 282,386 shares at avg $4.56
- FY 2025 share repurchases: 4,058,604 shares at avg $4.32
- Remaining authorization at Dec 31, 2025: $24.6M
- Quarterly dividend declared: $0.015 per share
- Cash at Dec 31, 2025: $100.9M (vs $95.4M Sep 30, 2025); total liquidity $210.4M including $110M available on revolver
- Debt refinancing fees: $6.5M (Jan and Aug 2025) cited as flowing through financials and impacting FY free cash flow
Strategy & Ops
- Portfolio reshaping: exit of underperforming brands post-COVID and increased exposure to higher-growth end markets
- Automation initiative: AI agents implemented across several events to improve exhibitor experience; expected to scale across more events
- AI scalability effects: expected reduction in calls into sales/customer success; modernization of finance stack in 2026 with automation to drive incremental flow-through
- Las Vegas Convention Center disruption: construction completed end of 2025; company expects to cycle past impacts in 2026; next event scheduled Monday/Tuesday next week
Market Outlook
- 2026 revenue guidance: $490Mā$495M
- 2026 adjusted EBITDA guidance: $137.5Mā$142.5M; midpoint implies ~10% YoY adjusted EBITDA growth
- Revenue contract level: >70% of the year's revenue already contracted; more to sell in back half for 1H vs 2H split
- Middle East exposure: less than 1% of revenue from exhibitors from Middle East/contiguous regions; no meaningful impact to travel/exhibitor willingness observed
Risks & Headwinds
- FCF volatility: acquisition timing and financing fees materially reduced reported free cash flow in 2025 (quantified $36.6M impact); potential for higher acquisition/integration expense in early 2026
- Las Vegas Convention Center construction impacted some brands in 2025; risk of carryover effects until cycling through in 2026
- SG&A elevated due to contingent consideration remeasurement adjustments and integration/transaction costs
- Tariff uncertainty: company monitors and incorporated potential impacts into 2026 planning (no numeric tariff basis stated)
Sentiment: MIXED
Note: This summary was synthesized by AI from the EEX Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.
š Official Regulatory 10-K / 10-Q SEC Filings
Direct authenticated documentation links to audited SEC database reports for EEX.