ITICINVESTORS TITLE CO
Title Insurance
- Revenue
- $41M
- 16% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $507M
- Employees
- 548
- $75K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 1.3
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo2 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$953K medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo88% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo64% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo3% of assetsOver 40% of assets
- Shareholder dissentYes73% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$75K · 8th pctBottom quartile of its SIC industry
- Quiet on AINo1.3 per 10K words · 41st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$507M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$235K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $23M | $36M | $36M | $35M | $41M | 16% |
| Net income | $67M | $24M | $22M | $31M | $35M | 13% |
| Operating cash flow | $52M | $36M | $7M | $30M | $31M | 3.7% |
| Capex | $7M | $6M | $9M | $7M | $6M | 25% |
| Stock-based comp | $299K | $362K | $425K | $394K | $543K | 38% |
| Buybacks | $0 | $133K | $959K | $1M | $0 | 100% |
| Dividends | $38M | $9M | $11M | $30M | $20M | 33% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $235K · 2
- Open-market sells, 12 mo
- $0 · 0
- Net
- $235K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $953K | $953K | 211 | 169 |
| FY2024 | $929K | $929K | 193 | 163 |
| FY2023 | $731K | $731K | 124 | 148 |
| FY2022 | $2M | $2M | 109 | 107 |
| FY2021 | $2M | $2M | 141 | 146 |