TakeoverPE & activists

CLVTCLARIVATE PLC

Services-Computer Processing & Data Preparation · $1.1B market cap · 12,000 employees

5.1×

More likely than average to be taken private

Top 1% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

4of 15 firedHow well they predict deals →
11 other checks
  • 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
    —
    Cash flow under 80% of net income
  • Dilutive SBCNo
    3% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    0% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    14% of assets
    Over 40% of assets
  • Shareholder dissentNo
    93% lowest support
    Any vote under 80% support
  • Quiet on AINo
    16.9 per 10K words · 97th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    5.0× EBITDA net debt
    More cash than debt, positive EBITDA
  • AI-rollup shapedNo
    2 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    −$4M net
    Net sales over $10M in 12 months

Key numbers

Revenue
$2.5BFY2021: $1.9BFY2022: $2.7BFY2023: $2.6BFY2024: $2.6BFY2025: $2.5B
4.0% YoY
Operating margin
2.9%FY2021: -4.6%FY2022: -147.6%FY2023: -27.9%FY2024: -10.8%FY2025: 2.9%
127% YoY
EBITDA
$829MFY2021: $451MFY2022: −$3.2BFY2023: −$26MFY2024: $451MFY2025: $829M
84% YoY
Net debt / EBITDA
5.0×
$4.2B net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$1.9B$2.7B$2.6B$2.6B$2.5B 4.0% FY2021: $1.9BFY2022: $2.7BFY2023: $2.6BFY2024: $2.6BFY2025: $2.5B
Operating income−$87M−$3.9B−$735M−$276M$72M 126% FY2021: −$87MFY2022: −$3.9BFY2023: −$735MFY2024: −$276MFY2025: $72M
Net income−$271M−$4.0B−$911M−$637M−$201M 68% FY2021: −$271MFY2022: −$4.0BFY2023: −$911MFY2024: −$637MFY2025: −$201M
Operating cash flow$324M$509M$744M$647M$629M 2.8% FY2021: $324MFY2022: $509MFY2023: $744MFY2024: $647MFY2025: $629M
Capex$119M$203M$243M$289M$263M 9.0% FY2021: $119MFY2022: $203MFY2023: $243MFY2024: $289MFY2025: $263M
Stock-based comp$33M$94M$109M$60M$63M 5.3% FY2021: $33MFY2022: $94MFY2023: $109MFY2024: $60MFY2025: $63M
Dividends$19M$75M$76M$38M$0 100% FY2021: $19MFY2022: $75MFY2023: $76MFY2024: $38MFY2025: $0

13D filers

FiledFilerFormStakeIntent
Feb 6, 2026Impactive Capital LPSCHEDULE 13D/A3.5%Active
Mar 4, 2024Exor N.V.SC 13D/A10.1%Active
Dec 19, 2023Exor N.V.SC 13D/A9.6%Active
Dec 4, 2023Exor N.V.SC 13D/A8.6%Active
Nov 8, 2023Exor N.V.SC 13D/A7.4%Active
Oct 23, 2023Exor N.V.SC 13D6.3%Active
Oct 16, 2023Impactive Capital LPSC 13D5.3%Active
Jun 23, 2021Green Equity Investors VII, L.P.SC 13D/A16.8%Passive
Feb 16, 2021Selige Co-Investor Pooling S.C.SpSC 13D/A6.3%Passive
Oct 13, 2020Green Equity Investors VII, L.P.SC 13D19.2%Passive

Insider trading

−$4Mnet selling by insiders, open market, last 12 months
Bought $2M · 3 tradesSold $6M · 4 trades

Pay vs performance

No pay-versus-performance disclosure yet.