PWPPerella Weinberg Partners
Finance Services
- Revenue
- $751M
- 14% YoY
- Operating margin
- 6.4%
- 171% YoY
- EBITDA
- $69M
- 218% YoY
- Market cap
- $1.5B
- Employees
- 736
- $1M revenue each
- Net debt / EBITDA
- -2.2×
- −$150M net debt
- AI in 10-K
- 0.8
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 2 of 7
- TSR below peersNo2 of 4 years3+ of last 5 years
- High CEO pay despite TSRNo$10M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes72% of net incomeCash flow under 80% of net income
- Dilutive SBCYes15% of revenueOver 10% of revenue
- Payouts exceed cash flowNo66% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo17% of assetsOver 40% of assets
- Shareholder dissentNo87% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$1M · 70th pctBottom quartile of its SIC industry
- Quiet on AINo0.8 per 10K words · 31st pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 2.2× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$8M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $802M | $632M | $649M | $878M | $751M | 14% |
| Operating income | $67M | −$48M | −$115M | −$79M | $48M | 161% |
| Net income | −$9M | −$32M | −$112M | −$89M | $48M | 154% |
| Operating cash flow | $235M | −$18M | $146M | $223M | $35M | 84% |
| Capex | $1M | $27M | $58M | $16M | $4M | 74% |
| Stock-based comp | $97M | $156M | $184M | $189M | $110M | 41% |
| Dividends | $6M | $13M | $13M | $20M | $23M | 13% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| May 27, 2021 | DEFM14A | FinTech Investor Holdings IV, LLC | — | — |
| Feb 5, 2021 | PREM14A | FinTech Masala Advisors, LLC | $11.60 | 100% |
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $8M · 7
- Net
- −$8M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $5M | −$16M | 147 | 151 |
| FY2024 | $27M | $86M | 200 | 131 |
| FY2023 | $12M | $25M | 101 | 100 |
| FY2022 | $7M | −$9M | 79 | 89 |