RALRalliant Corp

Industrial Instruments For Measurement, Display, And Control

Revenue: $2.1B; 4.0% YoY
Operating margin: -57.2%; 368% YoY
EBITDA: −$1.1B; 286% YoY
Market cap: $7.4B
Employees: 7,000; $296K revenue each
Net debt / EBITDA: —; $878M net debt
AI in 10-K: 4.6; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 1 of 7

TSR below peersNo
1 of 1 years
3+ of last 5 years
High CEO pay despite TSRNo
$12M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
3% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
3% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyYes
44% of assets
Over 40% of assets
Shareholder dissentNo
98% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$296K · 29th pct
Bottom quartile of its SIC industry
Quiet on AINo
4.6 per 10K words · 81st pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$7.4B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$5M net
Net sales over $10M in 12 months

Financials

Metric	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$2.2B	$2.2B	$2.1B	4.0%
Operating income	$512M	$460M	−$1.2B	357%
Net income	$417M	$355M	−$1.2B	445%
Operating cash flow	$462M	$455M	$398M	13%
Capex	$29M	$34M	$39M	14%
Stock-based comp	$25M	$25M	$56M	129%
Dividends	$0	$0	$11M

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $512K · 6
Open-market sells, 12 mo: $5M · 7
Net: −$5M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	$12M	$13M	105	113