EPACENERPAC TOOL GROUP CORP

Misc Industrial & Commercial Machinery & Equipment

Revenue: $652M; 5.7% YoY
Operating margin: 19.8%; 8.5% YoY
EBITDA: $147M; 1.7% YoY
Market cap: $2.8B
Employees: 340; $2M revenue each
Net debt / EBITDA: 0.2×; $29M net debt
AI in 10-K: 0.4; 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
2% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
64% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
34% of assets
Over 40% of assets
Shareholder dissentNo
96% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeNo
$2M · 93rd pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.4 per 10K words · 20th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.2× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$2.8B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$201K net
Net sales over $10M in 12 months

Financials

Metric	FY2022	FY2023	FY2024	FY2025	FY2026	YoY	Trend
Revenue	$571M	$598M	$590M	$617M	$652M	5.7%
Operating income	$31M	$84M	$122M	$134M	$129M	3.2%
Net income	$16M	$47M	$86M	$93M	$90M	3.2%
Operating cash flow	$52M	$78M	$81M	$111M	$130M	17%
Capex	$8M	$9M	$11M	$19M	$11M	45%
Stock-based comp	$14M	$9M	$11M	$13M	$12M	6.9%
Buybacks	$75M	$58M	$38M	$69M	$81M	18%
Dividends	$2M	$2M	$2M	$2M	$2M	4.5%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $201K · 2
Net: −$201K

Pay vs performance

No pay-versus-performance disclosure yet.