DVDoubleVerify Holdings, Inc.
Services-Computer Programming, Data Processing, Etc. · $2.1B market cap · 362 employees
2.9×
More likely than average to be taken private
Top 3% 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.
5of 15 firedHow well they predict deals →
- TSR below peersYes5 of 5 years3+ of last 5 years
- Dilutive SBCYes14% of revenueOver 10% of revenue
- Net cashYesNet cash · 1.7× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$2.1B market capMarket cap $500M–$5B
- Recurring revenueYes7 of 1010-K business scored 7+ of 10 for recurring revenue
10 other checks
- High CEO pay despite TSRNo$9M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo417% of net incomeCash flow under 80% of net income
- Payouts exceed cash flowNo63% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo38% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
- Low revenue per employeeNo$2M · 93rd pctBottom quartile of its SIC industry
- Quiet on AINo9.4 per 10K words · 92nd pctBottom quartile of AI mentions in 10-Ks
- AI-rollup shapedNo1 of 1010-K business scored 5+ of 10 as an AI-rollup target
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$76K netNet sales over $10M in 12 months
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Sep 29, 2026 | DEFM14A | Neptune BidCo US Inc. (affiliated with Elliott and Brookfield funds) | $14.00 | 21.93% |
| Sep 11, 2026 | PREM14A | Neptune BidCo US Inc. (affiliate of Elliott and Brookfield funds) | $13.60 | 20.13% |
| Aug 10, 2026 | 8-K | Neptune BidCo US Inc. (parent of Nielsen Company (US), with Elliott equity backing) | — | — |
Key numbers
- Revenue
- $748M
- 14% YoY
- Operating margin
- 10.6%
- 16% YoY
- EBITDA
- $136M
- 6.4% YoY
- Net debt / EBITDA
- -1.7×
- −$229M net debt
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $333M | $452M | $573M | $657M | $748M | 14% |
| Operating income | $27M | $59M | $86M | $82M | $79M | 3.9% |
| Net income | $29M | $43M | $71M | $56M | $51M | 9.9% |
| Operating cash flow | $83M | $95M | $120M | $160M | $211M | 32% |
| Capex | $9M | $40M | $17M | $27M | $39M | 42% |
| Stock-based comp | $22M | $42M | $59M | $91M | $104M | 15% |
| Buybacks | $2M | $10M | $5M | $128M | $132M | 3.4% |
13D filers
None on file.
Insider trading
−$76Knet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $76K · 5 trades
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $12M | $7M | 32 | 173 |
| FY2024 | $1M | −$18M | 53 | 142 |
| FY2023 | $11M | $31M | 102 | 110 |
| FY2022 | $9M | −$9M | 61 | 76 |
| FY2021 | $7M | $47M | 92 | 113 |