PEBOPEOPLES BANCORP INC

State Commercial Banks

Revenue: $87M; 2.3% YoY
Operating margin: 155.4%; 12% YoY
EBITDA: $143M; 9.3% YoY
Market cap: $1.4B
Employees: 16,772; $5K revenue each
Net debt / EBITDA: -1.0×; −$146M net debt
AI in 10-K: 0.1; mentions per 10K words

Takeover score 4 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
126% of net income
Cash flow under 80% of net income
Dilutive SBCNo
8% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
44% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
4% of assets
Over 40% of assets
Shareholder dissentNo
95% lowest support
Any vote under 80% support

Buyer economics 4 of 4

Low revenue per employeeYes
$5K · 5th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.1 per 10K words · 8th pct
Bottom quartile of AI mentions in 10-Ks
Net cashYes
Net cash · 1.0× EBITDA
More cash than debt, positive EBITDA
Buyout-sizedYes
$1.4B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$356K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$61M	$70M	$80M	$85M	$87M	2.3%
Operating income	$57M	$129M	$145M	$149M	$135M	9.8%
Net income	$48M	$101M	$113M	$117M	$107M	8.9%
Operating cash flow	$156M	$120M	$144M	$143M	$135M	5.9%
Capex	$7M	$7M	$13M	$7M	$6M	12%
Stock-based comp	$4M	$4M	$6M	$7M	$7M	5.7%
Buybacks	$0	$7M	$3M	$3M	$838K	72%
Dividends	$31M	$42M	$52M	$56M	$58M	3.2%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $182K · 9
Open-market sells, 12 mo: $538K · 10
Net: −$356K

Pay vs performance

No pay-versus-performance disclosure yet.