STCSTEWART INFORMATION SERVICES CORP
Title Insurance
- Revenue
- $2.9B
- 17% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.4B
- Employees
- 7,800
- $375K revenue each
- Net debt / EBITDA
- —
- $385M net debt
- AI in 10-K
- 1.6
- 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 cashNo178% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo30% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo39% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$375K · 17th pctBottom quartile of its SIC industry
- Quiet on AINo1.6 per 10K words · 47th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.4B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$234K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.3B | $3.0B | $2.2B | $2.5B | $2.9B | 17% |
| Net income | $323M | $162M | $30M | $73M | $116M | 58% |
| Operating cash flow | $390M | $192M | $83M | $136M | $206M | 52% |
| Capex | $40M | $48M | $38M | $40M | $73M | 81% |
| Stock-based comp | $12M | $12M | $11M | $14M | $17M | 26% |
| Buybacks | $2M | $3M | $2M | $4M | $4M | 1.1% |
| Dividends | $37M | $45M | $51M | $54M | $58M | 8.5% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Aug 1, 2018 | DEFM14A | Fidelity National Financial, Inc. | $50.00 | 30.75% |
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $653K · 15
- Open-market sells, 12 mo
- $887K · 3
- Net
- −$234K
Pay vs performance
No pay-versus-performance disclosure yet.