HUBGHub Group, Inc.

Arrangement Of Transportation Of Freight & Cargo

Revenue: $3.9B; 6.1% YoY
Operating margin: 3.6%; 30% YoY
EBITDA: $333M; 16% YoY
Market cap: $997M
Employees: 6,500; $607K revenue each
Net debt / EBITDA: 0.4×; $135M 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
187% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
51% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
28% of assets
Over 40% of assets
Shareholder dissentNo
83% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeNo
$607K · 67th 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
0.4× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$997M 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	FY2020	FY2021	FY2022	FY2023	FY2024	YoY	Trend
Revenue	$3.5B	$4.2B	$5.3B	$4.2B	$3.9B	6.1%
Operating income	$106M	$238M	$475M	$212M	$140M	34%
Net income	$74M	$171M	$357M	$168M	$104M	38%
Operating cash flow	$175M	$253M	$458M	$422M	$194M	54%
Capex	$115M	$133M	$219M	$140M	$51M	64%
Stock-based comp	$17M	$20M	$20M	$21M	$19M	10%
Buybacks	$0	$0	$75M	$144M	$68M	53%
Dividends	—	—	$0	$0	$30M

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $200K · 1
Open-market sells, 12 mo: $1M · 1
Net: −$1M

Pay vs performance

No pay-versus-performance disclosure yet.