XPELXPEL, Inc.
Coating, Engraving & Allied Services
- Revenue
- $476M
- 13% YoY
- Operating margin
- 13.2%
- 6.5% YoY
- EBITDA
- $69M
- 6.1% YoY
- Market cap
- $1.3B
- Employees
- 1,337
- $356K revenue each
- Net debt / EBITDA
- -0.6×
- −$40M net debt
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 1 of 7
- TSR below peersNo0 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$2M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo131% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo4% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo13% of assetsOver 40% of assets
- Shareholder dissentYes65% lowest supportAny vote under 80% support
Buyer economics 3 of 4
- Low revenue per employeeNo$356K · 26th pctBottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.6× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.3B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $259M | $324M | $396M | $420M | $476M | 13% |
| Operating income | $40M | $54M | $67M | $59M | $63M | 5.9% |
| Net income | $32M | $41M | $53M | $45M | $51M | 13% |
| Operating cash flow | $18M | $12M | $37M | $48M | $67M | 40% |
| Capex | $7M | $8M | $6M | $7M | $4M | 40% |
| Stock-based comp | $169K | $522K | $2M | $3M | $3M | 14% |
| Buybacks | — | — | $0 | $0 | $3M |
Deal filings
None.
13D filers
None on file.
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 | $3M | $4M | 830 | 160 |
| FY2024 | $2M | $2M | 665 | 144 |
| FY2023 | $2M | $1M | 896 | 122 |
| FY2022 | $2M | $1M | 1011 | 114 |
| FY2021 | $1M | $1M | 1136 | 145 |