FUBOFuboTV Inc.

Services-Motion Picture & Video Tape Production

Revenue: $402M; 71% YoY
Operating margin: -48.7%; 130% YoY
EBITDA: −$157M; 38% YoY
Market cap: $2.6B
Employees: 590; $682K revenue each
Net debt / EBITDA: —; −$211M net debt
AI in 10-K: 5.8; mentions per 10K words

Takeover score 4 of 13

Fixable underperformance 3 of 7

TSR below peersYes
4 of 6 years
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCYes
11% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyYes
66% of assets
Over 40% of assets
Shareholder dissentNo
96% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$682K per employee
Bottom quartile of its SIC industry
Quiet on AINo
5.8 per 10K words · 85th 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
−$3M net
Net sales over $10M in 12 months

Financials

Metric	FY2020	FY2021	FY2022	FY2023	FY2024	YoY	Trend
Revenue	$218M	$638M	$1.0B	$1.4B	$402M	71%
Operating income	−$480M	−$328M	−$412M	−$289M	−$196M	32%
Net income	−$570M	−$383M	−$561M	−$287M	−$172M	40%
Operating cash flow	−$149M	−$196M	−$317M	−$178M	−$79M	55%
Capex	$166K	$3M	$1M	$1M	$3M	155%
Stock-based comp	$51M	$53M	$52M	$51M	$43M	17%

Deal filings

Filed	Form	Acquirer	Price	Premium
Aug 7, 2025	DEFM14A	The Walt Disney Company	$0.00	0%
Jul 28, 2025	PREM14A	The Walt Disney Company	$10.00	30%

13D filers

Filed	Filer	Form	Stake	Intent
Apr 6, 2021	NZ VIII (GP) Ltd	SC 13D/A	4.9%	Passive
Apr 1, 2021	NZ VIII (GP) Ltd	SC 13D	5.1%	Passive

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $3M · 5
Net: −$3M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	—	—	40	236
FY2024	—	—	12	190
FY2023	—	—	31	135
FY2022	—	—	17	81
FY2021	—	—	151	146