NIQNIQ Global Intelligence plc

Services-Computer Programming, Data Processing, Etc.

Revenue: $4.2B; 5.7% YoY
Operating margin: 2.0%; 181% YoY
EBITDA: $718M; 44% YoY
Market cap: $5.8B
Employees: 38,760; $108K revenue each
Net debt / EBITDA: 4.3×; $3.1B net debt
AI in 10-K: 20.4; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 0 of 7

TSR below peersNo
1 of 1 years
3+ of last 5 years
High CEO pay despite TSRNo
$3M median
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
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
36% of assets
Over 40% of assets
Shareholder dissentNo
99% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeYes
$108K · 5th pct
Bottom quartile of its SIC industry
Quiet on AINo
20.4 per 10K words · 99th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
4.3× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$5.8B 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	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$3.3B	$4.0B	$4.2B	5.7%
Operating income	−$109M	−$100M	$85M	186%
Net income	−$577M	−$798M	−$353M	56%
Operating cash flow	−$12M	$74M	$299M	304%
Capex	$24M	$35M	$35M	2.0%
Stock-based comp	$4M	$5M	$61M	1200%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $1M · 1
Open-market sells, 12 mo: $0 · 0
Net: $1M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	$3M	$2M	79	109