SCSCSCANSOURCE, INC.
Wholesale-Computers & Peripheral Equipment & Software
- Revenue
- $3.2B
- 6.1% YoY
- Operating margin
- 3.1%
- 9.1% YoY
- EBITDA
- $122M
- 5.9% YoY
- Market cap
- $1.2B
- Employees
- 2,100
- $2M revenue each
- Net debt / EBITDA
- 0.1×
- $13M net debt
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$6M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo156% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo80% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo13% of assetsOver 40% of assets
- Shareholder dissentYes75% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$2M · 81st pctBottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 58th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo0.1× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$7M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.5B | $3.8B | $3.3B | $3.0B | $3.2B | 6.1% |
| Operating income | $122M | $136M | $90M | $85M | $99M | 16% |
| Net income | $89M | $90M | $77M | $72M | $79M | 10% |
| Operating cash flow | −$124M | −$36M | $372M | $112M | $123M | 9.6% |
| Capex | $7M | $10M | $9M | $8M | $9M | 12% |
| Stock-based comp | $12M | $11M | $10M | $11M | $14M | 27% |
| Buybacks | $18M | $16M | $43M | $107M | $98M | 8.1% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $211K · 2
- Open-market sells, 12 mo
- $7M · 19
- Net
- −$7M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $10M | $13M | 185 | 246 |
| FY2025 | $8M | $7M | 174 | 187 |
| FY2024 | $6M | $8M | 184 | 163 |
| FY2023 | $6M | $5M | 123 | 159 |
| FY2022 | $6M | $7M | 129 | 130 |