TakeoverPE & activists

RGRSTURM RUGER & CO INC

Ordnance & Accessories, (no Vehicles/guided Missiles) · $783M market cap · 1,780 employees

1.3×

More 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

Other things in the 10-K that mattered in past deals

Not part of the score. How often companies whose 10-K read the same way went on to a take-private, against the average company (the tick).

  • Little recurring revenueAway from one
    0.4× as often
    Of 2,226 companies scoring low on "recurring revenue", a take-private came 0.4× as often as average

Takeover signals

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

6of 15 firedHow well they predict deals →
9 other checks
  • 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
    1% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    67% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    1% of assets
    Over 40% of assets
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    1.9 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    0.1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    $195K net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Oct 16, 2026SC TO-T/ABeretta Holding S.A.——
Sep 17, 2026SC TO-TBeretta Holding S.A.——

Key numbers

Revenue
$546MFY2021: $731MFY2022: $596MFY2023: $544MFY2024: $536MFY2025: $546M
1.9% YoY
Operating margin
-2.3%FY2021: 27.8%FY2022: 17.4%FY2023: 9.6%FY2024: 5.9%FY2025: -2.3%
138% YoY
EBITDA
$11MFY2021: $229MFY2022: $129MFY2023: $74MFY2024: $54MFY2025: $11M
80% YoY
Net debt / EBITDA
—

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$731M$596M$544M$536M$546M 1.9% FY2021: $731MFY2022: $596MFY2023: $544MFY2024: $536MFY2025: $546M
Operating income$203M$103M$52M$32M−$12M 139% FY2021: $203MFY2022: $103MFY2023: $52MFY2024: $32MFY2025: −$12M
Net income$156M$88M$48M$31M−$4M 114% FY2021: $156MFY2022: $88MFY2023: $48MFY2024: $31MFY2025: −$4M
Operating cash flow$172M$77M$34M$56M$54M 2.2% FY2021: $172MFY2022: $77MFY2023: $34MFY2024: $56MFY2025: $54M
Capex$29M$28M$16M$21M$16M 24% FY2021: $29MFY2022: $28MFY2023: $16MFY2024: $21MFY2025: $16M
Stock-based comp$8M$2M$4M$4M$5M 16% FY2021: $8MFY2022: $2MFY2023: $4MFY2024: $4MFY2025: $5M
Buybacks—$222K$12M$34M$26M 24% FY2022: $222KFY2023: $12MFY2024: $34MFY2025: $26M
Dividends$59M$43M$111M$12M$10M 14% FY2021: $59MFY2022: $43MFY2023: $111MFY2024: $12MFY2025: $10M

13D filers

FiledFilerFormStakeIntent
Oct 20, 2026Beretta Holding S.A.SCHEDULE 13D/A25.0%Passive
Sep 17, 2026Beretta Holding S.A.SCHEDULE 13D/A9.9%Passive
May 4, 2026Beretta Holding S.A.SCHEDULE 13D/A9.9%Active
Mar 31, 2026Beretta Holding S.A.SCHEDULE 13D/A9.9%Active
Mar 25, 2026Beretta Holding S.A.SCHEDULE 13D/A9.9%Active
Feb 26, 2026Beretta Holdings S.A.SCHEDULE 13D/A9.9%Active
Dec 1, 2025Beretta Holdings S.A.SCHEDULE 13D/A9.9%Active
Oct 2, 2025Beretta Holdings S.A.SCHEDULE 13D/A9.0%Passive
Sep 22, 2025Beretta Holdings S.A.SCHEDULE 13D7.7%Passive

Insider trading

+$195Knet buying by insiders, open market, last 12 months
Bought $289K · 3 tradesSold $93K · 4 trades

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025——6373
FY2024——6781
FY2023——85106
FY2022——9286
FY2021——109131