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
674% of net income
Cash flow under 80% of net income
Dilutive SBCNo
4% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
54% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentNo
87% lowest support
Any vote under 80% support
Buyer economics 2 of 4
Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AIYes
0.1 per 10K words · 10th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$771M market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $168M | $282M | $234M | $242M | $274M | ▲ 13% | |
|---|
| Operating income | $54M | $154M | $35M | $41M | $17M | ▼ 58% | |
|---|
| Net income | $18M | $119M | −$20M | $21M | $25M | ▲ 20% | |
|---|
| Operating cash flow | $87M | $147M | $142M | $155M | $170M | ▲ 9.9% | |
|---|
| Stock-based comp | $1M | −$11M | $32M | $8M | $10M | ▲ 26% | |
|---|
| Buybacks | $0 | $0 | $248K | $0 | $0 | | |
|---|
| Dividends | $12M | $36M | $58M | $64M | $92M | ▲ 45% | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Mar 14, 2025 | FR XIII PetroShale Holdings L.P. | SCHEDULE 13D | 7.6% | Passive |
| Mar 11, 2025 | STEINBERG JOSEPH S | SCHEDULE 13D/A | 7.4% | Passive |
| Dec 17, 2024 | STEINBERG JOSEPH S | SC 13D/A | 9.0% | Passive |
| Jan 23, 2023 | STEINBERG JOSEPH S | SC 13D | 9.2% | Passive |
Insider trading
- Open-market buys, 12 mo
- $2M · 5
- Open-market sells, 12 mo
- $9M · 17
- Net
- −$7M
Pay vs performance
No pay-versus-performance disclosure yet.