ITTITT INC.

Pumps & Pumping Equipment

Revenue: $3.9B; 8.5% YoY
Operating margin: 17.4%; 6.9% YoY
EBITDA: $828M; 1.5% YoY
Market cap: $17.7B
Employees: 11,600; $340K revenue each
Net debt / EBITDA: 2.9×; $2.4B net debt
AI in 10-K: 4.7; mentions per 10K words

Takeover score 1 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
137% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
94% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
35% of assets
Over 40% of assets
Shareholder dissentNo
97% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$340K · 33rd pct
Bottom quartile of its SIC industry
Quiet on AINo
4.7 per 10K words · 81st pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
2.9× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$17.7B market cap
Market cap $500M–$5B

Catalysts 1 of 2

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

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$2.8B	$3.0B	$3.3B	$3.6B	$3.9B	8.5%
Operating income	$504M	$468M	$531M	$678M	$685M	0.9%
Net income	$316M	$367M	$412M	$520M	$488M	6.1%
Operating cash flow	−$8M	$278M	$538M	$563M	$669M	19%
Capex	$88M	$104M	$108M	$124M	$121M	2.1%
Stock-based comp	$17M	$18M	$20M	$26M	$36M	40%
Buybacks	$105M	$245M	$60M	$105M	$521M	399%
Dividends	$76M	$88M	$96M	$105M	$111M	6.0%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $1M · 1
Open-market sells, 12 mo: $14M · 14
Net: −$13M

Pay vs performance

No pay-versus-performance disclosure yet.