SCISERVICE CORP INTERNATIONAL

Services-Personal Services

Revenue: $4.3B; 2.9% YoY
Operating margin: 22.7%; 2.4% YoY
EBITDA: $1.2B; 5.4% YoY
Market cap: $10.4B
Employees: 9,462; $455K revenue each
Net debt / EBITDA: 4.0×; $4.8B net debt
AI in 10-K: 3.6; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 0 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 cashNo
174% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
68% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
11% of assets
Over 40% of assets
Shareholder dissentNo
89% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$455K per employee
Bottom quartile of its SIC industry
Quiet on AINo
3.6 per 10K words · 75th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
4.0× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$10.4B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$39M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$4.1B	$4.1B	$4.1B	$4.2B	$4.3B	2.9%
Operating income	$1.2B	$927M	$944M	$928M	$978M	5.4%
Net income	$803M	$565M	$537M	$519M	$543M	4.6%
Operating cash flow	$921M	$826M	$869M	$945M	$943M	0.2%
Capex	$304M	$370M	$362M	$374M	$389M	4.0%
Stock-based comp	$14M	$15M	$17M	$19M	$18M	6.1%
Buybacks	$554M	$661M	$545M	$254M	$461M	82%
Dividends	$147M	$160M	$168M	$174M	$184M	5.3%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $39M · 9
Net: −$39M

Pay vs performance

No pay-versus-performance disclosure yet.