SFSTIFEL FINANCIAL CORP
Security Brokers, Dealers & Flotation Companies
- Revenue
- $3.8B
- 14% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $4.6B
- Employees
- 9,000
- $419K revenue each
- Net debt / EBITDA
- —
- −$1.6B net debt
- AI in 10-K
- 5.7
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$14M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo173% of net incomeCash flow under 80% of net income
- Dilutive SBCNo4% of revenueOver 10% of revenue
- Payouts exceed cash flowNo22% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo3% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
Buyer economics 3 of 4
- Low revenue per employeeYes$419K · 4th pctBottom quartile of its SIC industry
- Quiet on AINo5.7 per 10K words · 85th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 1.7× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$4.6B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$423K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.6B | $3.0B | $2.7B | $3.3B | $3.8B | 14% |
| Operating income | — | $885M | $707M | $928M | — | |
| Net income | $789M | $625M | $485M | $694M | $646M | 6.9% |
| Operating cash flow | $872M | $1.2B | $499M | $490M | $1.1B | 128% |
| Capex | $188M | $82M | $52M | $74M | $62M | 16% |
| Stock-based comp | $119M | $136M | $140M | $154M | $164M | 6.7% |
| Buybacks | $173M | $106M | $444M | $144M | $245M | 70% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $423K · 4
- Net
- −$423K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $19M | $43M | 271 | 181 |
| FY2024 | $16M | $36M | 226 | 173 |
| FY2023 | $13M | $18M | 144 | 133 |
| FY2022 | $13M | $9M | 120 | 120 |
| FY2021 | $14M | $25M | 141 | 142 |