GDDYGoDaddy Inc.
Services-Computer Integrated Systems Design
- Revenue
- $5.0B
- 8.3% YoY
- Operating margin
- 22.8%
- 17% YoY
- EBITDA
- $1.2B
- 21% YoY
- Market cap
- $14.3B
- Employees
- 5,845
- $847K revenue each
- Net debt / EBITDA
- 2.2×
- $2.8B net debt
- AI in 10-K
- 16.3
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$19M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo183% of net incomeCash flow under 80% of net income
- Dilutive SBCNo6% of revenueOver 10% of revenue
- Payouts exceed cash flowYes101% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes46% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$847K · 74th pctBottom quartile of its SIC industry
- Quiet on AINo16.3 per 10K words · 97th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo2.2× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$14.3B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$14M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.8B | $4.1B | $4.3B | $4.6B | $5.0B | 8.3% |
| Operating income | $382M | $499M | $547M | $894M | $1.1B | 26% |
| Net income | $242M | $352M | $1.4B | $937M | $875M | 6.6% |
| Operating cash flow | $829M | $980M | $1.0B | $1.3B | $1.6B | 24% |
| Capex | $51M | $60M | $42M | $27M | $24M | 10% |
| Stock-based comp | $208M | $264M | $296M | $300M | $318M | 6.0% |
| Buybacks | $526M | $1.3B | $1.3B | $677M | $1.6B | 137% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| May 2, 2024 | Starboard Value LP | SC 13D/A | 4.8% | Passive |
| Jan 31, 2024 | Starboard Value LP | SC 13D/A | 0.0% | Passive |
| Dec 8, 2023 | Starboard Value LP | SC 13D/A | — | Passive |
| Sep 12, 2023 | Starboard Value LP | SC 13D/A | 7.8% | Passive |
| Nov 7, 2022 | Starboard Value LP | SC 13D/A | 7.7% | Passive |
| Dec 27, 2021 | Starboard Value LP | SC 13D | — | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $14M · 46
- Net
- −$14M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $23M | −$22M | 150 | 118 |
| FY2024 | $19M | $73M | 291 | 165 |
| FY2023 | $16M | $31M | 156 | 128 |
| FY2022 | $19M | $12M | 110 | 79 |
| FY2021 | $15M | $15M | 125 | 152 |