ATRAPTARGROUP, INC.

Plastics Products, NEC

Revenue: $3.8B; 5.4% YoY
Operating margin: 13.3%; 4.3% YoY
EBITDA: $788M; 3.7% YoY
Market cap: $8.7B
Employees: 14,000; $270K revenue each
Net debt / EBITDA: 1.0×; $821M net debt
AI in 10-K: 0.1; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
145% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
85% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
21% of assets
Over 40% of assets
Shareholder dissentNo
98% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeYes
$270K · 8th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.1 per 10K words · 10th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
1.0× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$8.7B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$8M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$3.2B	$3.3B	$3.5B	$3.6B	$3.8B	5.4%
Operating income	$347M	$379M	$404M	$496M	$501M	0.9%
Net income	$244M	$239M	$284M	$375M	$393M	4.9%
Operating cash flow	$363M	$479M	$575M	$643M	$570M	11%
Capex	$308M	$310M	$312M	$276M	$270M	2.2%
Stock-based comp	$39M	$41M	$41M	$48M	$44M	7.8%
Buybacks	$78M	$92M	$48M	$69M	$365M	432%
Dividends	$99M	$99M	$104M	$114M	$121M	5.9%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $8M · 18
Net: −$8M

Pay vs performance

No pay-versus-performance disclosure yet.