GSHDGoosehead Insurance, Inc.
Insurance Agents, Brokers & Service
- Revenue
- $365M
- Operating margin
- 20.4%
- EBITDA
- $86M
- 20% YoY
- Market cap
- $1.0B
- Employees
- 1,000
- $365K revenue each
- Net debt / EBITDA
- 0.1×
- $13M net debt
- AI in 10-K
- 4.7
- 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 cashNo330% of net incomeCash flow under 80% of net income
- Dilutive SBCNo6% of revenueOver 10% of revenue
- Payouts exceed cash flowYes248% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentYes77% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$365K · 55th pctBottom quartile of its SIC industry
- Quiet on AINo4.7 per 10K words · 81st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo0.1× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.0B market capMarket cap $500M–$5B
Catalysts 2 of 2
- Active 13DYes1 filingActive-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 | $151M | $209M | $0 | $0 | $365M | |
| Operating income | $9M | $10M | $33M | $61M | $74M | 22% |
| Net income | $5M | $565K | $14M | $30M | $28M | 8.5% |
| Operating cash flow | $35M | $36M | $51M | $72M | $92M | 28% |
| Capex | $13M | $10M | $4M | $979K | $6M | 479% |
| Stock-based comp | $7M | $20M | $24M | $28M | $23M | 16% |
| Buybacks | — | $0 | $0 | $63M | $82M | 29% |
| Dividends | $60M | $0 | $0 | $0 | $146M |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 24, 2026 | Jones Mark Evan | SCHEDULE 13D/A | 34.2% | Passive |
| Feb 25, 2026 | Jones Mark Evan | SCHEDULE 13D/A | 35.1% | Passive |
| Aug 15, 2025 | Jones Mark Evan | SCHEDULE 13D/A | 33.8% | Active |
| Mar 26, 2025 | Jones Mark Evan | SCHEDULE 13D/A | 34.9% | Active |
| Nov 24, 2023 | Jones Mark Evan | SC 13D/A | 35.7% | Passive |
| Aug 31, 2023 | Jones Mark Evan | SC 13D/A | — | Passive |
| Jun 2, 2023 | Jones Mark Evan | SC 13D/A | 38.2% | Passive |
| Mar 9, 2023 | Jones Mark Evan | SC 13D/A | 39.1% | Passive |
| Nov 21, 2022 | Jones Mark Evan | SC 13D/A | 40.3% | Passive |
| Oct 21, 2022 | Jones Mark Evan | SC 13D/A | 40.3% | Passive |
Insider trading
- Open-market buys, 12 mo
- $20M · 19
- Open-market sells, 12 mo
- $34M · 36
- Net
- −$14M
Pay vs performance
No pay-versus-performance disclosure yet.