TakeoverPE & activists

EVGOEVgo Inc.

Services-Automotive Repair, Services & Parking · $218M market cap · 376 employees

1.6×

More likely than average to be taken private

Top 8% 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.

0of 15 firedHow well they predict deals →

No signals fired.

15 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
    7% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    0% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    3% of assets
    Over 40% of assets
  • Shareholder dissentNo
    89% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $1M per employee
    Bottom quartile of its SIC industry
  • Quiet on AINo
    1.2 per 10K words · 38th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Buyout-sizedNo
    $218M market cap
    Market cap $500M–$5B
  • Recurring revenueNo
    5 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    $0 net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
May 27, 2021DEFM14A—$10.000%
Feb 12, 2021PREM14ALS Power Equity Partners IV, L.P.$10.00100%

Key numbers

Revenue
$384MFY2021: $22MFY2022: $55MFY2023: $161MFY2024: $257MFY2025: $384M
50% YoY
Operating margin
-28.8%FY2021: -414.9%FY2022: -273.9%FY2023: -95.3%FY2024: -51.2%FY2025: -28.8%
44% YoY
EBITDA
−$111MFY2021: −$90MFY2022: −$150MFY2023: −$153MFY2024: −$132MFY2025: −$111M
16% YoY
Net debt / EBITDA
—
$175M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$22M$55M$161M$257M$384M 50% FY2021: $22MFY2022: $55MFY2023: $161MFY2024: $257MFY2025: $384M
Operating income−$90M−$150M−$153M−$132M−$111M 16% FY2021: −$90MFY2022: −$150MFY2023: −$153MFY2024: −$132MFY2025: −$111M
Net income−$6M−$28M−$42M−$44M−$42M 6.2% FY2021: −$6MFY2022: −$28MFY2023: −$42MFY2024: −$44MFY2025: −$42M
Operating cash flow−$30M−$59M−$37M−$7M−$8M 6.5% FY2021: −$30MFY2022: −$59MFY2023: −$37MFY2024: −$7MFY2025: −$8M
Capex$65M$200M$159M$95M$117M 23% FY2021: $65MFY2022: $200MFY2023: $159MFY2024: $95MFY2025: $117M
Stock-based comp$11M$25M$30M$22M$27M 23% FY2021: $11MFY2022: $25MFY2023: $30MFY2024: $22MFY2025: $27M

13D filers

FiledFilerFormStakeIntent
Nov 2, 2026EVgo Member Holdings, LLCSCHEDULE 13D/A56.8%Passive
Dec 18, 2024EVgo Member Holdings, LLCSCHEDULE 13D/A90.4%Active
Oct 18, 2024EVgo Member Holdings, LLCSC 13D—Passive

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

No pay-versus-performance disclosure yet.