PKEPARK AEROSPACE CORP
Aircraft Parts & Auxiliary Equipment, NEC
- Revenue
- $73M
- 18% YoY
- Operating margin
- 18.4%
- 22% YoY
- EBITDA
- $15M
- 37% YoY
- Market cap
- $538M
- Employees
- 125
- $586K revenue each
- Net debt / EBITDA
- -1.7×
- −$26M net debt
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 2 of 7
- TSR below peersYes3 of 3 years3+ of last 5 years
- High CEO pay despite TSRNo$303K medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo1020× net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowYes105% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo6% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 3 of 4
- Low revenue per employeeNo$586K · 74th pctBottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 1.7× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$538M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$10M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $54M | $54M | $56M | $62M | $73M | 18% |
| Operating income | $11M | $10M | $8M | $9M | $14M | 44% |
| Net income | $8M | $11M | $7M | $6K | $11K | 92% |
| Operating cash flow | $8M | $6M | $4M | $5M | $11M | 144% |
| Capex | $4M | $1M | $645K | $889K | $2M | 129% |
| Stock-based comp | $285K | $369K | $529K | $402K | $401K | 0.2% |
| Buybacks | $0 | $0 | $3M | $4M | $2M | 49% |
| Dividends | $8M | $8M | $31M | $10M | $10M | 1.0% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Mar 18, 2021 | GAMCO INVESTORS, INC. ET AL | SC 13D/A | 3.8% | Passive |
| Aug 14, 2020 | Raging Capital Management, LLC | SC 13D/A | 4.8% | Passive |
| Mar 30, 2020 | Raging Capital Management, LLC | SC 13D | 6.2% | Passive |
| Dec 13, 2019 | SHORE BRIAN E | SC 13D/A | 5.7% | Passive |
| Jan 24, 2019 | GAMCO INVESTORS, INC. ET AL | SC 13D/A | 4.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $10M · 8
- Net
- −$10M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $332K | $1M | 240 | 317 |
| FY2025 | $303K | $167K | 126 | 192 |
| FY2024 | $296K | −$39K | 114 | 130 |