BBTBeacon Financial Corp

Savings Institutions, Not Federally Chartered

Revenue: $30M; 81% YoY
Operating margin: —
EBITDA: —
Market cap: $2.6B
Employees: 1,972; $15K revenue each
Net debt / EBITDA: —; −$328M net debt
AI in 10-K: 0.6; mentions per 10K words

Takeover score 5 of 13

Fixable underperformance 2 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
249% of net income
Cash flow under 80% of net income
Dilutive SBCYes
12% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
36% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
2% of assets
Over 40% of assets
Shareholder dissentYes
60% lowest support
Any vote under 80% support

Buyer economics 3 of 4

Low revenue per employeeYes
$15K · 14th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.6 per 10K words · 24th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$2.6B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$16K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$46M	$41M	$16M	$17M	$30M	81%
Net income	$119M	$93M	$75M	$69M	$90M	31%
Operating cash flow	$85M	$111M	$117M	$105M	$224M	114%
Capex	$2M	$1M	$12M	$5M	$12M	146%
Stock-based comp	$4M	$7M	$7M	$8M	$4M	58%
Buybacks	$69M	$125M	$24M	$18M	—
Dividends	$25M	$25M	$48M	$48M	$63M	31%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Mar 26, 2020	Massad Pamela	SC 13D/A	3.0%	Passive
Jan 22, 2020	Massad Pamela	SC 13D/A	8.7%	Passive
Mar 28, 2019	Massad Pamela	SC 13D	9.8%	Passive
Mar 28, 2019	Massad David G. Sr.	SC 13D/A	0.0%	Passive

Insider trading

Open-market buys, 12 mo: $541K · 10
Open-market sells, 12 mo: $558K · 2
Net: −$16K

Pay vs performance

No pay-versus-performance disclosure yet.