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This stock no longer trades (delisted July 14, 2026)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

Emerald Holding logo

Emerald Holding

EEX
40
Advertising Agencies · Communication Services
Price
$5.04
+0.00 (+0.00%)
Market Cap
$997.5M
Winston Score
40
Historical score — this stock no longer trades, so the score is frozen at the last available data.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Good
Growth
Mixed
Cash Flow
Mixed
Stability
Mixed
Valuation
Data not available
Dividends
Weak

Share count rising — dilution

+178.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 71.3M (2021) → 198.7M (2025)

Winston Score History

The full picture

Emerald Holding, Inc. runs trade shows and business events across the United States. It brings together buyers and sellers in specific industries — like jewelry, outdoor sports, and home design — so they can meet, network, and do deals in person. The company owns and operates over 140 events each year, making it one of the larger trade show organizers in the country.

Emerald makes money by charging exhibitors for booth space and attendees for tickets or registration fees. It operates almost entirely in the U.S. and generates additional revenue through digital media and online marketplaces connected to its events. The business has a natural moat because well-established trade shows tend to attract the same buyers and sellers year after year, making them hard to replace. The main risk is that virtual alternatives and tighter corporate travel budgets could reduce demand for in-person events over time.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+5.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-47.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

91.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$121M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Emerald Holding is growing revenue at 5% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Profit per sale
Gross Margin
64.0%
Premium pricing power — 64.0% gross margin
Profit after running costs
Operating Margin
12.5%
Healthy — 12.5% operating margin
Return on the money invested
ROCE
5.2%
Weak — 5.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+14.0%
Fast-growing sales (+14.0% YoY)
Profit growth
EPS YoY
<−1,000%
Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
12.1%
Converts sales into free cash efficiently (12.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
1.49
Elevated debt (1.49)
Covers its interest
Interest Cover
1.08x
Dangerous — barely covers interest (1.1x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
1.19%
Small dividend — 1.19% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+0.0%
Dividend flat

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