QNSTQUINSTREET, INC
Services-Business Services, NEC
- Revenue
- $1.3B
- 18% YoY
- Operating margin
- 2.7%
- 384% YoY
- EBITDA
- $61M
- 97% YoY
- Market cap
- $983M
- Employees
- 1,074
- $1M revenue each
- Net debt / EBITDA
- -1.0×
- −$58M net debt
- AI in 10-K
- 2.6
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 1 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$6M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo162% of net incomeCash flow under 80% of net income
- Dilutive SBCNo3% of revenueOver 10% of revenue
- Payouts exceed cash flowNo24% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo36% of assetsOver 40% of assets
- Shareholder dissentNo88% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$1M · 82nd pctBottom quartile of its SIC industry
- Quiet on AINo2.6 per 10K words · 64th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 1.0× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$983M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$17M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $582M | $581M | $614M | $1.1B | $1.3B | 18% |
| Operating income | −$5M | −$21M | −$28M | $6M | $35M | 472% |
| Net income | −$5M | −$69M | −$31M | $5M | $81M | 1626% |
| Operating cash flow | $29M | $12M | $12M | $85M | $131M | 55% |
| Capex | $3M | $3M | $5M | $2M | $3M | 64% |
| Stock-based comp | $19M | $19M | $24M | $32M | $37M | 18% |
| Buybacks | $15M | $6M | $2M | $0 | $31M |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $17M · 9
- Net
- −$17M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $7M | $5M | 79 | 118 |
| FY2025 | $8M | $7M | 87 | 109 |
| FY2024 | $6M | $12M | 89 | 95 |
| FY2023 | $5M | $3M | 48 | 70 |
| FY2022 | $4M | −$595K | 54 | 63 |