PLGOPelagos Insurance Capital Ltd
Fire, Marine & Casualty Insurance
- Revenue
- $2.5B
- 3.3% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $2.2B
- Employees
- —
- Net debt / EBITDA
- —
- $276M net debt
- AI in 10-K
- —
Takeover score 2 of 13
Fixable underperformance 1 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 cashYes-360% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-64% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo—Any vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo—Bottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.5B | $3.6B | $2.4B | $2.5B | 3.3% |
| Net income | $68M | $53M | $2.1B | $113M | — | |
| Operating cash flow | $346M | $741M | $495M | $618M | −$408M | 166% |
| Capex | $7M | $19M | $6M | $5M | $1M | 74% |
| Stock-based comp | $10M | $11M | $28M | $8M | $8M | 1.3% |
| Buybacks | $321M | $0 | $0 | $106M | $261M | 148% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.