TakeoverPE & activists

LNTHLantheus Holdings, Inc.

In Vitro & In Vivo Diagnostic Substances · $6.6B market cap · 1,193 employees

0.6×

Less likely than average to be taken private

Top 30% 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.

1of 15 firedHow well they predict deals →
14 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
    167% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    6% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    77% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    10% of assets
    Over 40% of assets
  • Shareholder dissentNo
    —
    Any vote under 80% support
  • Low revenue per employeeNo
    $1M · 83rd pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    1.5 per 10K words · 46th pct
    Bottom quartile of AI mentions in 10-Ks
  • Buyout-sizedNo
    $6.6B market cap
    Market cap $500M–$5B
  • Recurring revenueNo
    —
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    —
    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
Sep 8, 2026DEFM14ACurium US Holdings LLC (CapVest Partners-controlled)$102.509%
Aug 26, 2026PREM14ACurium US Holdings LLC (CapVest-controlled)$102.509%
Aug 4, 20268-KCurium US Holdings LLC (CapVest-owned)——

Key numbers

Revenue
$1.5BFY2021: $425MFY2022: $935MFY2023: $1.3BFY2024: $1.5BFY2025: $1.5B
0.5% YoY
Operating margin
20.2%FY2021: -14.3%FY2022: 3.9%FY2023: 28.1%FY2024: 29.8%FY2025: 20.2%
32% YoY
EBITDA
$311MFY2021: −$61MFY2022: $36MFY2023: $365MFY2024: $457MFY2025: $311M
32% YoY
Net debt / EBITDA
-0.1×
−$23M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$425M$935M$1.3B$1.5B$1.5B 0.5% FY2021: $425MFY2022: $935MFY2023: $1.3BFY2024: $1.5BFY2025: $1.5B
Operating income−$61M$36M$365M$457M$311M 32% FY2021: −$61MFY2022: $36MFY2023: $365MFY2024: $457MFY2025: $311M
Net income−$71M$28M$327M$312M$234M 25% FY2021: −$71MFY2022: $28MFY2023: $327MFY2024: $312MFY2025: $234M
Operating cash flow$54M$282M$305M$545M$390M 28% FY2021: $54MFY2022: $282MFY2023: $305MFY2024: $545MFY2025: $390M
Capex$0$260M$45M——FY2021: $0FY2022: $260MFY2023: $45M
Stock-based comp$16M$29M$51M$76M$86M 12% FY2021: $16MFY2022: $29MFY2023: $51MFY2024: $76MFY2025: $86M
Buybacks$0$75M$0$100M$300M 200% FY2021: $0FY2022: $75MFY2023: $0FY2024: $100MFY2025: $300M

13D filers

None on file.

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

No pay-versus-performance disclosure yet.