SIGSIGNET JEWELERS LTD
Retail-Jewelry Stores
- Revenue
- $6.8B
- 1.6% YoY
- Operating margin
- 5.8%
- 249% YoY
- EBITDA
- $541M
- 109% YoY
- Market cap
- $4.6B
- Employees
- —
- Net debt / EBITDA
- 0.2×
- $123M net debt
- AI in 10-K
- 4.2
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo231% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo38% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo8% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo4.2 per 10K words · 79th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo0.2× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$4.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingNo−$863K netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $7.8B | $7.8B | $7.2B | $6.7B | $6.8B | 1.6% |
| Operating income | $903M | $605M | $622M | $111M | $393M | 255% |
| Net income | $770M | $377M | $810M | $61M | $294M | 381% |
| Operating cash flow | $1.3B | $798M | $547M | $591M | $679M | 15% |
| Capex | $130M | $139M | $126M | $153M | $154M | 0.3% |
| Stock-based comp | $46M | $42M | $41M | $22M | $27M | 21% |
| Buybacks | $312M | $376M | $139M | $138M | $205M | 49% |
| Dividends | $19M | $37M | $40M | $49M | $52M | 6.8% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jan 6, 2026 | Select Equity Group, L.P. | SCHEDULE 13D/A | 8.7% | Active |
| Feb 27, 2025 | Select Equity Group, L.P. | SCHEDULE 13D | 9.7% | Active |
| May 22, 2024 | Green Equity Investors VI, L.P. | SC 13D/A | 1.3% | Passive |
| Apr 16, 2024 | Green Equity Investors VI, L.P. | SC 13D/A | 9.3% | Passive |
| Mar 13, 2023 | Green Equity Investors VI, L.P. | SC 13D/A | 15.3% | Active |
| Jun 16, 2020 | Green Equity Investors VI, L.P. | SC 13D/A | 12.9% | Active |
| Jun 18, 2019 | Green Equity Investors VI, L.P. | SC 13D/A | 12.2% | Active |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $863K · 3
- Net
- −$863K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | — | — | 236 | 181 |
| FY2025 | — | — | 149 | 175 |
| FY2024 | — | — | 248 | 148 |
| FY2023 | — | — | 186 | 129 |
| FY2022 | — | — | 207 | 133 |