TSR below peersNo
0 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashYes
56% of net income
Cash flow under 80% of net income
Dilutive SBCYes
212% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
18% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
5% of assets
Over 40% of assets
Shareholder dissentNo
93% lowest support
Any vote under 80% support
Buyer economics 0 of 4
Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AINo
2.5 per 10K words · 63rd pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
6.8× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$7.3B market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | — | $9M | $8M | $10M | $12M | ▲ 24% | |
|---|
| Operating income | — | $37M | $54M | $352M | $477M | ▲ 35% | |
|---|
| Net income | $370M | −$4.5B | $182M | $867M | $979M | ▲ 13% | |
|---|
| Operating cash flow | — | $127M | $268M | $355M | $546M | ▲ 54% | |
|---|
| Capex | — | $207M | $696M | $455M | $344M | ▼ 25% | |
|---|
| Stock-based comp | — | $17M | $27M | $28M | $25M | ▼ 9.0% | |
|---|
| Buybacks | — | $0 | $199M | $126M | $100M | ▼ 21% | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Aug 12, 2026 | OAK HILL ADVISORS LP | SCHEDULE 13D/A | 4.4% | Active |
| Jun 8, 2026 | OAK HILL ADVISORS LP | SCHEDULE 13D/A | 5.9% | Active |
| Feb 11, 2026 | OAK HILL ADVISORS LP | SCHEDULE 13D/A | 6.9% | Active |
| Feb 11, 2026 | Famatown Finance Ltd | SCHEDULE 13D/A | 11.2% | Active |
| Mar 5, 2025 | Famatown Finance Ltd | SCHEDULE 13D/A | 10.6% | Passive |
| Nov 29, 2024 | Famatown Finance Ltd | SC 13D/A | 9.4% | Active |
| Sep 26, 2024 | Famatown Finance Ltd | SC 13D/A | 8.2% | Active |
| Aug 9, 2023 | OAK HILL ADVISORS LP | SC 13D/A | 6.5% | Active |
| Jun 8, 2023 | Famatown Finance Ltd | SC 13D/A | 7.2% | Active |
| Jan 27, 2023 | Famatown Finance Ltd | SC 13D/A | 7.2% | Active |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|
| FY2025 | — | — | 213 | 167 |
| FY2024 | — | — | 289 | 168 |
| FY2023 | — | — | 285 | 161 |
| FY2022 | — | — | 152 | 97 |
| FY2021 | — | — | 187 | 155 |