GEOGEO GROUP INC

General Bldg Contractors - Residential Bldgs

Revenue: $2.6B; 8.6% YoY
Operating margin: 9.8%; 23% YoY
EBITDA: $390M; 11% YoY
Market cap: $3.8B
Employees: 18,000; $146K revenue each
Net debt / EBITDA: 4.1×; $1.6B net debt
AI in 10-K: 0.8; mentions per 10K words

Takeover score 5 of 13

Fixable underperformance 3 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 cashYes
29% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowYes
167% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
20% of assets
Over 40% of assets
Shareholder dissentYes
72% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeYes
$146K · 0th pct
Bottom quartile of its SIC industry
Quiet on AINo
0.8 per 10K words · 29th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
4.1× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$3.8B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$1M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$2.3B	$2.4B	$2.4B	$2.4B	$2.6B	8.6%
Operating income	$288M	$384M	$352M	$310M	$257M	17%
Net income	$77M	$172M	$107M	$32M	$254M	696%
Operating cash flow	$283M	$288M	$278M	$242M	$73M	70%
Capex	$69M	$90M	$73M	$79M	$198M	151%
Stock-based comp	$19M	$16M	$15M	$18M	$24M	30%
Buybacks	—	—	—	—	$91M
Dividends	$30M	—	—	—	—

Deal filings

Filed	Form	Acquirer	Price	Premium
Apr 7, 2014	DEFM14A	—	—	—
Nov 8, 2013	PREM14A	—	$33.73	30%

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $1M · 5
Net: −$1M

Pay vs performance

No pay-versus-performance disclosure yet.