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Merger with IPG On November 26, 2025 (the Closing Date ), Omnicom completed its Merger with IPG (the Merger ). As previously reported, on December 8, 2024, Omnicom entered into an Agreement and Plan of Merger (the Merger Agreement ) with IPG and EXT Subsidiary Inc., a Delaware corporation and a direct wholly owned subsidiary of Omnicom ( Merger Sub ).
Operating margin is thin at 2.57%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 10.1%, still solid. Margins contracted 11.9pp, which offsets some of the top-line progress.
ROIC dropped from 15.63% to 2.01%, capital efficiency is deteriorating. Operating margin contracted 11.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$19.82B
▲ +10.1% YoY
Net Income (TTM)
$63M
▼ -103.7% YoY
Op. Margin
3.22%
▼ -11.9pp YoY
ROIC
2.14%
▼ -13.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.99B
▲ +75.1% YoY
Op. Cash Flow (TTM)
$3.17B
▲ +69.5% YoY
Net Debt
$7.23B
Cash & Equiv.
$4.29B
5Y CAGR: +5.6%
5Y CAGR: +11.1%
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