SHCSotera Health Co
Services-Misc Health & Allied Services, NEC
- Revenue
- $1.2B
- 5.7% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $5.2B
- Employees
- 3,000
- $388K revenue each
- Net debt / EBITDA
- —
- $1.8B net debt
- AI in 10-K
- 1.5
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$10M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo368% of net incomeCash flow under 80% of net income
- Dilutive SBCNo3% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo33% of assetsOver 40% of assets
- Shareholder dissentNo86% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$388K · 67th pctBottom quartile of its SIC industry
- Quiet on AINo1.5 per 10K words · 46th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo4.7× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$5.2B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$2.6B netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $931M | $1.0B | $1.0B | $1.1B | $1.2B | 5.7% |
| Operating income | $257M | $248M | $277M | $298M | — | |
| Net income | $116M | −$234M | $51M | $44M | $78M | 76% |
| Operating cash flow | $282M | $278M | −$148M | $224M | $287M | 28% |
| Capex | $102M | $182M | $215M | $179M | $138M | 23% |
| Stock-based comp | $14M | $21M | $32M | $37M | $31M | 16% |
| Buybacks | $0 | $0 | — | — | — | |
| Dividends | $0 | — | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2.6B · 18
- Net
- −$2.6B
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $11M | $17M | 64 | 148 |
| FY2024 | $10M | $5M | 54 | 136 |
| FY2023 | $10M | $31M | 67 | 132 |
| FY2022 | $17M | $6M | 33 | 130 |
| FY2021 | $2M | −$2M | 94 | 132 |