MEIMETHODE ELECTRONICS INC

Electronic Connectors

Revenue: $1.0B; 2.8% YoY
Operating margin: 0.9%; 138% YoY
EBITDA: $68M; 95% YoY
Market cap: $561M
Employees: 6,650; $153K revenue each
Net debt / EBITDA: 2.6×; $176M net debt
AI in 10-K: 1.2; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 1 of 7

TSR below peersYes
4 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
22% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
14% of assets
Over 40% of assets
Shareholder dissentNo
88% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeYes
$153K · 11th pct
Bottom quartile of its SIC industry
Quiet on AINo
1.2 per 10K words · 39th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
2.6× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$561M market cap
Market cap $500M–$5B

Catalysts 0 of 2

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

Financials

Metric	FY2022	FY2023	FY2024	FY2025	FY2026	YoY	Trend
Revenue	$1.2B	$1.2B	$1.1B	$1.0B	$1.0B	2.8%
Operating income	$112M	$90M	−$112M	−$24M	$9M	137%
Net income	$102M	$77M	−$123M	−$63M	−$36M	43%
Operating cash flow	$99M	$133M	$48M	$26M	$38M	44%
Capex	$38M	$42M	$50M	$42M	$22M	46%
Stock-based comp	$12M	$12M	$4M	$7M	$9M	15%
Buybacks	$65M	$48M	$14M	$2M	$0	100%
Dividends	$20M	$20M	$20M	$20M	$8M	59%

Deal filings

None.

13D filers

None on file.

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2026	—	—	22	304
FY2025	—	—	17	128
FY2024	—	—	29	125
FY2023	—	—	94	100
FY2022	—	—	101	96