NPNeptune Insurance Holdings Inc.
Insurance Agents, Brokers & Service
- Revenue
- $160M
- 34% YoY
- Operating margin
- 44.5%
- 22% YoY
- EBITDA
- $71M
- 3.7% YoY
- Market cap
- $2.8B
- Employees
- —
- Net debt / EBITDA
- 3.2×
- $230M net debt
- AI in 10-K
- 8.4
- 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 cashNo138% of net incomeCash flow under 80% of net income
- Dilutive SBCNo7% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo99% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo8.4 per 10K words · 90th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo3.2× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$2.8B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$423M netNet sales over $10M in 12 months
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Revenue | $85M | $119M | $160M | 34% |
| Operating income | $45M | $68M | $71M | 3.7% |
| Net income | $18M | $35M | $37M | 8.2% |
| Operating cash flow | $19M | $50M | $52M | 3.5% |
| Stock-based comp | $41K | $296K | $11M | 3758% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $1M · 2
- Open-market sells, 12 mo
- $424M · 14
- Net
- −$423M
Pay vs performance
No pay-versus-performance disclosure yet.