TakeoverPE & activists

VRRMVERRA MOBILITY Corp

Transportation Services · $430M market cap · 1,901 employees

1.3×

More likely than average to be taken private

Top 13% 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.

2of 15 firedHow well they predict deals →
13 other checks
  • TSR below peersNo
    0 of 5 years
    3+ of last 5 years
  • High CEO pay despite TSRNo
    $6M median
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    187% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    3% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    52% of cash flow
    Buybacks + dividends over cash flow
  • Low revenue per employeeNo
    $515K · 50th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    4.5 per 10K words · 81st pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    2.5× EBITDA net debt
    More cash than debt, positive EBITDA
  • Buyout-sizedNo
    $430M 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
Oct 2, 2018DEFM14APE Greenlight Holdings, LLC$10.00100%
Jul 12, 2018PREM14AGreenlight Holding II Corporation$827.000%

Key numbers

Revenue
$979MFY2021: $551MFY2022: $742MFY2023: $817MFY2024: $879MFY2025: $979M
11% YoY
Operating margin
24.4%FY2021: 20.3%FY2022: 22.2%FY2023: 23.1%FY2024: 15.5%FY2025: 24.4%
57% YoY
EBITDA
$352MFY2021: $229MFY2022: $303MFY2023: $302MFY2024: $245MFY2025: $352M
44% YoY
Net debt / EBITDA
2.5×
$896M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$551M$742M$817M$879M$979M 11% FY2021: $551MFY2022: $742MFY2023: $817MFY2024: $879MFY2025: $979M
Operating income$112M$165M$189M$136M$238M 75% FY2021: $112MFY2022: $165MFY2023: $189MFY2024: $136MFY2025: $238M
Net income$41M$93M$57M$31M$137M 335% FY2021: $41MFY2022: $93MFY2023: $57MFY2024: $31MFY2025: $137M
Operating cash flow$193M$218M$206M$224M$256M 14% FY2021: $193MFY2022: $218MFY2023: $206MFY2024: $224MFY2025: $256M
Capex$25M$48M$57M$71M$119M 68% FY2021: $25MFY2022: $48MFY2023: $57MFY2024: $71MFY2025: $119M
Stock-based comp$14M$17M$17M$23M$25M 9.7% FY2021: $14MFY2022: $17MFY2023: $17MFY2024: $23MFY2025: $25M
Buybacks$100M$125M$100M$200M$133M 33% FY2021: $100MFY2022: $125MFY2023: $100MFY2024: $200MFY2025: $133M

13D filers

FiledFilerFormStakeIntent
Aug 11, 2023INCLUSIVE CAPITAL PARTNERS, L.P.SC 13D/A3.6%Passive
Oct 28, 2022SCOPIA CAPITAL MANAGEMENT LPSC 13D/A4.4%Active
Jul 14, 2022SCOPIA CAPITAL MANAGEMENT LPSC 13D/A5.3%Active
Feb 3, 2022SCOPIA CAPITAL MANAGEMENT LPSC 13D5.0%Passive
Jan 4, 2022INCLUSIVE CAPITAL PARTNERS, L.P.SC 13D/A6.7%Passive
Dec 10, 2021PLATINUM EQUITY LLCSC 13D/A0.0%Passive
Aug 30, 2021INCLUSIVE CAPITAL PARTNERS, L.P.SC 13D11.5%Active
Aug 27, 2021PLATINUM EQUITY LLCSC 13D/A8.7%Passive
Aug 24, 2021PLATINUM EQUITY LLCSC 13D/A5.8%Passive
Feb 4, 2020PLATINUM EQUITY LLCSC 13D/A15.0%Passive

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025$6M$1M167105
FY2024$6M$4M180101
FY2023$9M$17M17295
FY2022$4M$4M10380
FY2021$3M$5M11596