STGWStagwell Inc
Services-Advertising Agencies
- Revenue
- $2.9B
- 2.4% YoY
- Operating margin
- 5.5%
- 17% YoY
- EBITDA
- $330M
- 16% YoY
- Market cap
- $2.6B
- Employees
- 10,951
- $266K revenue each
- Net debt / EBITDA
- 2.7×
- $882M net debt
- AI in 10-K
- 13.4
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 0 of 7
- TSR below peersNo0 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$7M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo950% of net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo46% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo38% of assetsOver 40% of assets
- Shareholder dissentNo94% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$266K · 18th pctBottom quartile of its SIC industry
- Quiet on AINo13.4 per 10K words · 96th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo2.7× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$2.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$13M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.5B | $2.7B | $2.5B | $2.8B | $2.9B | 2.4% |
| Operating income | $45M | $159M | $91M | $133M | $159M | 19% |
| Net income | $36M | $50M | $42M | $25M | $31M | 22% |
| Operating cash flow | $201M | $348M | $81M | $143M | $291M | 104% |
| Capex | $9M | $23M | $14M | $19M | $44M | 131% |
| Stock-based comp | $75M | $33M | $57M | $52M | $54M | 3.7% |
| Buybacks | $841K | $70M | $224M | $108M | $134M | 24% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jan 13, 2026 | Stagwell Group LLC | SCHEDULE 13D/A | 11.6% | Passive |
| Jul 21, 2025 | Stagwell Group LLC | SCHEDULE 13D/A | 11.6% | Passive |
| Apr 25, 2025 | BALLMER STEVEN A | SCHEDULE 13D | 43.5% | Active |
| Apr 18, 2025 | Stagwell Group LLC | SCHEDULE 13D/A | 11.7% | Passive |
| Apr 8, 2025 | Stagwell Group LLC | SCHEDULE 13D/A | 14.3% | Passive |
| Apr 8, 2025 | GOLDMAN SACHS GROUP INC | SCHEDULE 13D/A | 4.9% | Passive |
| Apr 2, 2025 | Stagwell Group LLC | SCHEDULE 13D/A | 57.9% | Passive |
| Jun 17, 2024 | GOLDMAN SACHS GROUP INC | SC 13D/A | 11.4% | Passive |
| Jun 13, 2023 | AlpInvest Partners B.V. | SC 13D/A | 0.0% | Passive |
| Jun 8, 2023 | GOLDMAN SACHS GROUP INC | SC 13D/A | 14.7% | Passive |
Insider trading
- Open-market buys, 12 mo
- $118K · 1
- Open-market sells, 12 mo
- $14M · 2
- Net
- −$13M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $7M | $4M | 191 | 162 |
| FY2024 | $7M | $7M | 257 | 130 |
| FY2023 | $8M | $7M | 259 | 99 |
| FY2022 | $7M | $3M | 243 | 69 |
| FY2021 | $12M | $18M | 339 | 114 |