TakeoverPE & activists

PWPPerella Weinberg Partners

Finance Services · $1.5B market cap · 736 employees

0.2×

Less likely than average to be taken private

Top 48% 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
    2 of 4 years
    3+ of last 5 years
  • High CEO pay despite TSRNo
    $10M median
    Median CEO pay ≥ $15M while TSR trails
  • Payouts exceed cash flowNo
    66% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    17% of assets
    Over 40% of assets
  • Shareholder dissentNo
    87% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $1M · 70th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    0.8 per 10K words · 31st pct
    Bottom quartile of AI mentions in 10-Ks
  • Recurring revenueNo
    3 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    2 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
    −$8M net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
May 27, 2021DEFM14AFinTech Investor Holdings IV, LLC——
Feb 5, 2021PREM14AFinTech Masala Advisors, LLC$11.60100%

Key numbers

Revenue
$751MFY2021: $802MFY2022: $632MFY2023: $649MFY2024: $878MFY2025: $751M
14% YoY
Operating margin
6.4%FY2021: 8.3%FY2022: -7.6%FY2023: -17.7%FY2024: -8.9%FY2025: 6.4%
171% YoY
EBITDA
$69MFY2021: $81MFY2022: −$37MFY2023: −$100MFY2024: −$58MFY2025: $69M
218% YoY
Net debt / EBITDA
-2.2×
−$150M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$802M$632M$649M$878M$751M 14% FY2021: $802MFY2022: $632MFY2023: $649MFY2024: $878MFY2025: $751M
Operating income$67M−$48M−$115M−$79M$48M 161% FY2021: $67MFY2022: −$48MFY2023: −$115MFY2024: −$79MFY2025: $48M
Net income−$9M−$32M−$112M−$89M$48M 154% FY2021: −$9MFY2022: −$32MFY2023: −$112MFY2024: −$89MFY2025: $48M
Operating cash flow$235M−$18M$146M$223M$35M 84% FY2021: $235MFY2022: −$18MFY2023: $146MFY2024: $223MFY2025: $35M
Capex$1M$27M$58M$16M$4M 74% FY2021: $1MFY2022: $27MFY2023: $58MFY2024: $16MFY2025: $4M
Stock-based comp$97M$156M$184M$189M$110M 41% FY2021: $97MFY2022: $156MFY2023: $184MFY2024: $189MFY2025: $110M
Dividends$6M$13M$13M$20M$23M 13% FY2021: $6MFY2022: $13MFY2023: $13MFY2024: $20MFY2025: $23M

13D filers

None on file.

Insider trading

−$8Mnet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $8M · 7 trades

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025$5M−$16M147151
FY2024$27M$86M200131
FY2023$12M$25M101100
FY2022$7M−$9M7989