SOCSable Offshore Corp.
Crude Petroleum & Natural Gas
- Revenue
- $0
- Operating margin
- —
- EBITDA
- −$408M
- 332% YoY
- Market cap
- $425M
- Employees
- 200
- Net debt / EBITDA
- —
- $947M net debt
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 2 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—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo-65% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo84% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$425M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$19M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | — | — | $0 | $0 | |
| Operating income | −$2M | −$6M | −$94M | −$408M | 332% |
| Net income | $4M | −$3M | −$94M | −$410M | 338% |
| Operating cash flow | −$2M | −$2M | −$70M | −$352M | 402% |
| Capex | — | — | $0 | $418M | |
| Stock-based comp | — | — | $0 | $43M | |
| Buybacks | — | $0 | $230M | — |
Deal filings
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Oct 11, 2024 | Sarofim Christopher Binyon | SC 13D/A | 12.2% | Active |
| Oct 7, 2024 | FLORES JAMES C | SC 13D/A | 20.5% | Passive |
| Feb 22, 2024 | Sarofim Christopher Binyon | SC 13D | 11.4% | Active |
| Feb 22, 2024 | FLORES JAMES C | SC 13D | 25.5% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $19M · 11
- Net
- −$19M
Pay vs performance
No pay-versus-performance disclosure yet.